News Topic: Michigan

The year's second-biggest bank merger created a Midwestern regional with nearly $50 billion in assets, and its CEO and executive vice chairman don't intend to stop there. ... Read full article

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity. ... Read full article

Northpointe Bancshares sold stock to an affiliate of Castle Creek Capital. ... Read full article

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed. ... Read full article

Credit Union Trust, a new credit union service organization, has obtained a bank charter that it will use in offering trust and investment-related services. ... Read full article

The Michigan company said the loan — made to a borrower that plans to shut down its reverse mortgage business — has collateral. ... Read full article

Consolidation activity was ho-hum for most of April before a burst of transactions — and notable ones at that — were announced in the month's final week. ... Read full article

The Indiana credit union agreed to pay $21.3 million in cash for New Bancorp, which was created when its savings bank converted to a stock-owned company in 2015. ... Read full article

The Dallas regional assured analysts that it has ample sources of liquidity to fund its expected loan growth. ... Read full article

MiCommunity Bancorp, which will be Michigan's first new bank since the financial crisis, raised $30 million in initial capital. ... Read full article

The companies had planned to make Chemical CEO David Provost the new leader before October's market gyrations led them to break off talks. When they revisited the deal, several things changed — including Provost's role. ... Read full article

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending. ... Read full article

Both banks' need for scale started the conversation and the lifting of the SIFI threshold helped seal the deal. Here are five takeaways from one of the industry's biggest recent mergers. ... Read full article

Chemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. The combined company will be headquartered in Detroit, Chemical's hometown, and operate under the TCF brand. ... Read full article

Balances from the 52 branches Flagstar bought from Wells Fargo fell by 22% between the deal's announcement and closing, forcing the Michigan company to adjust the math for earning back tangible book value. ... Read full article

Citizens Community Bancorp is selling its Rochester Hills, Mich., office to Lake Michigan Credit Union. ... Read full article

The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings. ... Read full article

The move allows the Michigan credit union to expand its operations in Illinois and southern Wisconsin. ... Read full article