Recent News

By David Hayes and Lindsey White Banks and politicians have ramped up criticism of regulators of late. But capital levels over the past few years suggest that regulators are perhaps being more patient when it comes to issuing enforcement actions and closing banks. SNL looked at the median risk-based capital ratios and the median leverage…

Horizon Bancorp entering new county with Heartland Bancshares deal By Umair Iqbal Michigan City, Ind.-based Horizon Bancorp ($1.55 billion) is acquiring Franklin, Ind.-based Heartland Bancshares Inc. and unit Heartland Community Bank ($245.3 million) in a deal valued by SNL at $21.3 million. Under the deal, Heartland Bancshares will merge into Horizon Bancorp and Heartland Community…

Originally published November 10, 2011 in SNL Financial by Lindsey White and Patrick Sims Industry observers agree that regulators are exercising great patience as Capitol Bancorp Ltd. continues to sell off its parts — and the company’s complexity may be the cause of this forbearance. Michael Moran, Capitol Bancorp’s director of affiliate divestitures, told SNL…

Originally published August 18, 2011 in SNL Financial by Lindsey White Middlefield, Ohio-based Middlefield Banc Corp. on Aug. 18 said Bank Opportunity Fund, an affiliate of Hovde Private Equity Advisors LLC, agreed to buy about $9.45 million of the bank’s common stock as part of a broader capital raise of about $11.4 million. Under the…

Originally published August 14, 2011 in Crain’s Detroit Business by Tom Henderson State and local banks continue to mend. A large majority are making money, and even the most troubled banks have improved the key metric eyed by state and federal regulators when considering which to shut down, according to reports for the second quarter…

Originally published July 10, 2011 in Crain’s Detroit Business by Tom Henderson With the rollout of four new bank branches in Southeast Michigan by the end of October and an additional six or so planned across the state over the next year and a half, Hantz Bank is about to become a much better-known member of the…

Originally published April 17, 2011 in Crain’s Detroit Business by Dustin Walsh And Chad Halcom Edward Walker’s plan was to grow the small Detroit automotive supplier his father founded in 1981 from a modest operation into a serious player for lucrative defense and aerospace contracts. For a while, it appeared to work: W Industries Inc. had attracted local…

Originally published March 27, 2011 in Crain’s Detroit Business by Tom Henderson Most of the local community bank executives who have survived the recent economic crisis — and the staggering losses fueled by defaults in commercial lending — think the worst is behind them. But as local banks start returning to profitability, there’s one thing…

Originally published February 25, 2011 in SNL Financial by Lindsey White After dropping its rights offering Feb. 23, Capitol Bancorp Ltd.’s options to raise much-needed capital appear limited. The Lansing, Mich.-based bank raised $7.5 million in capital in April 2010, but decided to try to raise funds again through a rights offering less than a…

Originally published February 20, 2011 in Crain’s Detroit Business by Tom Henderson Ten months ago, First Michigan Bancorp Inc. of Troy was a one-branch bank with 30 employees and $75 million in assets. Following three acquisitions, it has 50 branches, 750 employees and $2.1 billion in assets. The bank has even grander plans for the next year or so.…