Failed Bank Report: Claim FDIC Insured Accounts at Failed Banks

Peoples State Bank - Hamtramck, MI

Michigan search for unclaimed money or a lost bank account

MI missing money search

Unclaimed  bank account search - MI Peoples State Bank

February 11, 2011: Peoples State Bank, Hamtramck, 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, including brokered deposits, have been transferred to First Michigan Bank, Troy, MI

First Michigan Bank
2301 West Big Beaver Road
Troy, MI 48084

History:

Established in 1909 as Peoples State Bank
Acquired The Madison National Bank - Madison Heights, Michigan
 

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: Unclaimed Money Search

 

 

 

2010 FDIC Insured Failed Banks
 
 
 
 
Peoples State Bank
9252 Jos. Campau Avenue
Hamtramck, MI 48212

 
 

Established
as
Peoples State Bank
 

 
 
 
 
Cost to FDIC: $87 million

 

 
 

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