FDIC Alert: Level One Bank Acquires Michigan Heritage Bank
Friday was a busy day for the FDIC. On Friday, three other banks were taken over in addition to the one headlining this post. The notices can be found on the following links:
Here is one of the most recent FDIC bank closures which was achieved by Level One acquiring Michigan Heritage Bank on Friday, April, 24. The article posted below is rom PRNewsWire via Comtex and appears on foxbusiness.com.
FARMINGTON HILLS, Mich., April 24, 2009 /PRNewswire via COMTEX/ —-Level One Bank of Farmington Hills is pleased to announce the acquisition of all deposit accounts and select consumer loans of Michigan Heritage Bank, also of Farmington Hills, from the FDIC as Receiver following its closure on April 24, 2009. Level One Bank was selected by the FDIC, after a competitive bidding process, to assume these deposits and purchase these selected assets.
All Michigan Heritage Bank offices will open for business as branches of Level One Bank beginning Monday morning, April 27, 2009. Michigan Heritage Bank depositors will automatically become customers of Level One Bank and will have uninterrupted access to their funds, all of which will continue to be insured by the FDIC to the FDIC’s limits with no loss of any depositor money.
Level One Bank is a locally owned, full-service commercial and consumer bank which strives to exceed customer expectations at every point of contact. Level One Bank continues to take banking to a higher level with the most qualified and enthusiastic bankers in the market and the technology and infrastructure to make banking easier and more convenient.
“As a bank committed to the success of our local community – both its residents and businesses – we are thrilled to welcome the Michigan Heritage Bank customers into the Level One family. We pride ourselves on making a difference for each of our customers by providing a superior level of attention, treating each family like a business, and each business like family. We truly believe the transition will be a smooth, enjoyable experience for all our new customers. And we believe by keeping these deposits local, we’ll continue to positively support our communities and state,” said Patrick J. Fehring, President and CEO of Level One Bank.
Level One Bank’s Consumer Division offers personal savings and checking accounts including free checking and competitive interest-bearing accounts such as Money Markets, IRAs, and CDs. The bank also provides a complete array of consumer loan products including first mortgages, home equity, personal lines, auto, recreational vehicles and credit card services. The Commercial Division provides a complete menu of products including lines of credit, term loans, commercial mortgages, SBA loans and a full suite of Treasury Management Services.
Level One Bank locations will be: 30201 Orchard Lake Road, Farmington Hills 28300 Orchard Lake Road, Suite 200, Farmington Hills 21211 Haggerty Road, Novi 28345 Beck Road, Suite 102, Wixom
The official fdic.gov press release can be found here: PR09058.
