Eye on the Bailout
Recipients from Michigan
This is a listing of the 18 bailout recipients in Michigan
The total bailout committed to Michigan-based institutions is $82.1 billion, which is 12.8% of the total bailout so far committed.
This list shows only institutions headquartered in this state. Most recipients are bank holding companies, which sometimes have subsidiaries in other states. Also, keep in mind that a bank holding company might have a name that differs significantly from its subsidiary banks.
See the nationwide view of recipients, or view another state list:
For our blog, resources and more, see our main bailout page.
| Name | City | Type | Bailout |
|---|---|---|---|
| United Bank Mortgage Corporation (Profile) | Grand Rapids | Mortgage Servicer | $430 thousand |
| Chrysler (Profile) | Auburn Hills | Auto Company | $12.8 billion |
| Chrysler Financial Services (Profile) | Farmington Hills | Financial Services Company | $1.5 billion |
| Citizens Republic Bancorp (Profile) | Flint | Bank | $300 million |
| Firstbank Corp (Profile) | Alma | Bank | $33 million |
| Flagstar Bancorp (Profile) | Troy | Bank | $266.7 million |
| General Motors (Profile) | Detroit | Auto Company | $50.7 billion |
| GMAC (Profile) | Detroit | Financial Services Company | $16.3 billion |
| Independent Bank Corporation (Profile) | Ionia | Bank | $72 million |
| Monarch Community Bancorp (Profile) | Coldwater | Bank | $6.8 million |
| United Bancorp (Profile) | Tecumseh | Bank | $20.6 million |
| Mackinac Financial Corporation (Profile) | Manistique | Bank | $11 million |
| Birmingham Bloomfield Bancshares (Profile) | Birmingham | Bank | $3.4 million |
| Mercantile Bank Corporation (Profile) | Grand Rapids | Bank | $21 million |
| Mortgage Center, LLC (Profile) | Southfield | Mortgage Servicer | $8.8 million |
| First Independence Corporation (Profile) | Detroit | Bank | $3.2 million |
| Hillsdale County National Bank (Profile) | Hillsdale | Mortgage Servicer | $1.8 million |
| Valley Financial Group, Ltd., 1st State Bank (Profile) | Saginaw | Bank | $1.3 million |
For our blog, resources and more, see our main bailout page.
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