Failed Bank Report: Claim FDIC Insured Accounts at Failed Banks

Paramount Bank - Farmington Hills, MI

Michigan search for missing money or a lost bank account

MI missing money search

Unclaimed  bank account search - MI Paramount Bank

December 10, 2010: Paramount Bank, Farmington Hills, MI was closed by the Michigan Office of Financial and Insurance Regulation. The Federal Deposit Insurance Corporation was named receiver.

Successor Bank: All deposit accounts, excluding certain brokered deposits, have been transferred to Level One Bank, Farmington Hills, Michigan.

Level One Bank
30201 Orchard Lake Road
Farmington Hills, MI 48334

History:

Established in 1998 as Paramount Bank
Acquired Paramount Bank of Las Vegas, Nevada

Depositors must establish contact or the successor bank or the FDIC to reclaim their deposits. ► Not every depositor in a failed bank will receive notification from the FDIC, and there are time limits on claims of FDIC-insured bank accounts, CDs and safe deposit boxes. By law, accounts which go unclaimed for an extended period may be time barred, and safe deposit boxes can be drilled and the contents sold at auction. ► Additionally, accounts transferred to successor institutions may have lower interest rates and can lose insurance coverage.

It is important to understand you may have an account at a failed institution and not know it, either because you were a depositor at a bank acquired by an institution that subsequently failed, or if you or a deceased family member are the beneficial owner of a brokered fiduciary account.

For assistance tracing and reclaiming a lost bank account or safe deposit box go to: Abandoned Funds Search

 

 

 

2010 FDIC Insured Failed Banks
 
 
 
 
Paramount Bank
31000 Northwestern Highway
Farmington Hills, MI 48334
 

Established
as
Paramount Bank
 

 
 
 
 
Cost to FDIC: $90 million

 

 
 

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