Failed Bank Information for Peoples State Bank, Hamtramck, MI
On Friday, February 11, 2011, Peoples State Bank was closed by the Michigan Office of Financial and Insurance Regulation. The FDIC was named Receiver. First Michigan Bank, Troy, MI acquired all deposit accounts.
The FDIC as Receiver for Peoples State Bank, Hamtramck, 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.
Effective Date: February 1, 2018
Publication Date: August 28, 2017
Report on dividends paid
Official press release
Beware 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.
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: FIRST MICHIGAN BANK
About First Michigan Bank
All deposit accounts, including brokered deposits, were transferred to First Michigan Bank, Troy, MI ("assuming institution"). Former Peoples State Bank locations reopened as branches of First Michigan Bank.
Your transferred deposits were separately insured from any accounts you may have already had at First Michigan Bank for at least six months after the failure of Peoples State Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with First Michigan Bank as long as the deposits are not pledged as collateral for loans.
Contacting First Michigan Bank
On August 1, 2019, First Michigan Bank merged with TCF National Bank.
You can contact TCF National Bank:
TCF National Bank
2508 South Louise Avenue
Sioux Falls, SD 57106
TCF National Bank (www.tcfbank.com)
Purchase & Assumption Agreement - PDF (11Mb)
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank