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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Failed Bank Information for MainStreet Savings Bank, FSB, Hastings, MI

On Friday, July 16, 2010, MainStreet Savings Bank, FSB was closed by the Office of Thrift Supervision. The FDIC was named Receiver. Commercial Bank, Alma, MI acquired all deposit accounts.

The FDIC as Receiver for MainStreet Savings Bank, FSB, Hastings, MI has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on August 28, 2017 and has made all dividend distributions required by law.

Effective February 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: February 1, 2018


Notice of Intent to Terminate

Publication Date: August 28, 2017

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: COMMERCIAL BANK

About Commercial Bank

All deposit accounts were transferred to Commercial Bank, Alma, MI ("assuming institution"). Former MainStreet Savings Bank, FSB locations reopened as branches of Commercial Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Commercial Bank for at least six months after the failure of MainStreet Savings Bank, FSB.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Commercial Bank as long as the deposits are not pledged as collateral for loans.

Contacting Commercial Bank

You can contact Commercial Bank:

Commercial Bank
301 North State Street
Alma, MI 48801

Commercial Bank (www.commercial-bank.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (2Mb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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