Michigan Heritage Bank
Farmington Hills, MI · Owner: Michigan Heritage Bcorp Inc
$168M
total assets, March 31, 2009
$168M
total assets, March 31, 2009
Michigan Heritage Bank was a state member bank in Farmington Hills, MI, owned by Michigan Heritage Bcorp Inc. It failed on Apr 24, 2009, and Level One Bank took over its deposits. At its last report it held $167.7 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 2009
This bank failed
- Failed on
- Apr 24, 2009
- Assets
- $168M
- Deposits
- $149M
- Estimated cost
- $48.6M
- Deposits went to
- Level One Bank, Farmington Hills, MI
Total assets
$168M
-11.0% in a year · -6.6% in a quarter
Deposits
$149M
-6.3% in a year · -6.9% in a quarter
Loans
$120M
-18.7% in a year · -7.5% in a quarter
Profit so far
-$320K
Jan 1 to Mar 31, 2009
Capital ratio
1.39%
-6.11 pts in a year
Return on assets
-0.74%
-0.40 pts in a year
Facts
- Type
- State member bank
- Head office
- 28300 Orchard Lake Road, Farmington Hills, MI, 48334
- County
- Oakland
- Holding company
- Michigan Heritage Bcorp Inc
- Established
- Mar 10, 1997
- Failed
- Apr 24, 2009
- Employees
- 29
- Branches
- 4
- Id
- b34369
Quarter by quarter
March 31, 1997 to March 31, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Michigan Heritage Bank?
$167.7 million in total assets and $149.1 million in deposits as of March 31, 2009, with assets down 11.0% from a year before. Its loans were $120.1 million.
How many branches does Michigan Heritage Bank have?
4 branches in Michigan as of June 30, 2026.
Is Michigan Heritage Bank profitable?
No: it lost $320,000 from January 1 to March 31, 2009. Its return on assets was -0.74% a year; about 1% is typical.
Who owns Michigan Heritage Bank?
Michigan Heritage Bank is owned by Michigan Heritage Bcorp Inc, its holding company.
When did Michigan Heritage Bank fail?
Apr 24, 2009. Level One Bank of Farmington Hills, MI took over its deposits. The estimated cost of the failure was $48.6 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.