Michigan

Sterling in Michigan revises 2019 earnings to reflect mortgage woes

10/07/20

The company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.

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Michigan's CP Financial takes more steps to bolster growth

09/25/20

Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.

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Essential credit union employees in Mich. eligible for education perks

09/10/20

A new program will provide tuition-free schooling opportunities for those who stayed on the job during the state's lockdown earlier this year.

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NCUA bans former credit union teller for embezzlement

08/31/20

The National Credit Union Administration issued one prohibition notice for August.

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Park Financial in Minnesota to buy Mesaba Bancshares

07/01/20

Mesaba, which is also based in Minnesota, is the parent of American Bank of the North and Lake Bank.

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Coronavirus scuttles bank merger in Michigan

06/25/20

Arbor Bancorp and FNBH Bancorp said the pandemic had created uncertainty about the regulatory process for securing approval for the deal.

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Michigan bank hires turnaround expert to tackle long list of challenges

06/01/20

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

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Leader of Michigan community bank abruptly resigns

05/08/20

Thomas Lopp cited health reasons for leaving Sterling Bancorp less than six months after becoming CEO. Sterling has been dealing with revenue issues after shutting down its biggest lending program over underwriting concerns.

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Sterling in Michigan facing Justice Department probe of mortgage practices

03/09/20

The company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

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Arbor Bancorp to enter nearby market with FNBH acquisition

02/04/20

The Michigan company will pay $101 million for the parent of First National Bank in Howell, Mich.

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