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Article: Dearborn Bancorp, Inc. to Acquire Fidelity Financial Corporation of Michigan.
- Article from:
- PR Newswire
- Article date:
- September 14, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DEARBORN, Mich. and BIRMINGHAM, Mich., Sept. 14 /PRNewswire-FirstCall/ -- Dearborn Bancorp, Inc. , the holding company for Community Bank of Dearborn, and Fidelity Financial Corporation of Michigan, the holding company for Fidelity Bank headquartered in Birmingham, Michigan, today announced that they have signed a definitive agreement under which Dearborn Bancorp will acquire the Fidelity organization for approximately $70 million in an all-cash transaction.
Privately held Fidelity had total assets of $250 million, total deposits of $217 million and total loans of approximately $187 million as of June 30, 2006. The acquisition will expand Dearborn Bancorp's ...
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