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Northwestern Bank
Northwestern Bank was a community bank based in Traverse City, Michigan that served northern Michigan. In 2014, it was acquired by Chemical Financial Corporation. History The bank was established in 1955. In September 2012, the bank entered into a consent order with the Federal Deposit Insurance Corporation (FDIC) to address concerns about oversight and lending controls. In January 2013, Harry “Scrub” Calcutt, the chief executive officer of the bank, retired. He was replaced by Daniel W. Terpsma. In August 2013, the FDIC banned Calcutt from the banking industry after he allegedly hid loan defaults. On October 31, 2014, the bank was acquired by Chemical Financial Corporation TCF Financial Corporation was a bank holding company based in Detroit, Michigan. The current incarnation of the company was formed by a 2019 merger between the former TCF, which was established in 1923 in Wayzata, Minnesota, and the Michigan-b ... for $121 million in cash. References {{Reflist, 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chemical Financial Corporation
TCF Financial Corporation was a bank holding company based in Detroit, Michigan. The current incarnation of the company was formed by a 2019 merger between the former TCF, which was established in 1923 in Wayzata, Minnesota, and the Michigan-based Chemical Financial Corporation. In December 2020, TCF announced a merger with Huntington Bancshares. It was announced on May 26, 2021, that TCF Bank will be required by the Department of Justice to sell off 13 branches in Michigan. These branches were purchased by Horizon Bank at the end of the third quarter. The final approval has been given for the merger and the merger was complete on June 9, 2021. The combined bank has $175 billion in assets. History The company traces its roots to both TCF Financial Corporation and Chemical Financial Corporation, which merged in 2019. Chemical Financial Corporation Chemical State Savings Bank was founded in 1917. In 1937, the headquarters of Chemical Bank was the site of the infamous bank rob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Traverse City, Michigan
Traverse City ( ) is a city in the U.S. state of Michigan. It is the county seat of Grand Traverse County, although a small portion extends into Leelanau County. It is the largest city in the 21-county Northern Michigan region. The population was 15,678 at the 2020 census, with 153,448 in the Traverse City micropolitan area. Traverse City is well-known for being a cherry production hotspot, as the area was the largest producer of tart cherries in the United States in 2010. The city hosts the National Cherry Festival, attracting approximately 500,000 visitors annually. The area is also known for its viticulture industry, and is one of the centers of wine production in the Midwest. Traverse City is located nearby the Sleeping Bear Dunes National Lakeshore, as well as a number of freshwater beaches, downhill skiing areas, and numerous forests. For these reasons, Traverse City is a year-round tourism hotspot, winning multiple accolades and awards. Traverse City has also been not ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Community Bank
A community bank is a depository institution that is typically locally owned and operated. Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people who understand the local needs of families, businesses and farmers. Employees often reside within the communities they serve. In the United States, community banks are not clearly defined. Most agencies base this term on aggregate assets size with varying definitions such as less than $1 billion (Office of the Comptroller of the Currency) up to less than $10 billion (Federal Reserve Board and Government Accountability Office). Beyond size (as measured by assets) The Federal Deposit Insurance Corporation (FDIC) imposes a number of additional requirements on institutions classified as community banks. From 1985 to 2004 community banks comprised roughly 94% of all commercial banks in the United States, but the proportion of total national depo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michigan
Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the largest by area east of the Mississippi River.''i.e.'', including water that is part of state territory. Georgia is the largest state by land area alone east of the Mississippi and Michigan the second-largest. Its capital is Lansing, and its largest city is Detroit. Metro Detroit is among the nation's most populous and largest metropolitan economies. Its name derives from a gallicized variant of the original Ojibwe word (), meaning "large water" or "large lake". Michigan consists of two peninsulas. The Lower Peninsula resembles the shape of a mitten, and comprises a majority of the state's land area. The Upper Peninsula (often called "the U.P.") is separated from the Lower Peninsula by the Straits of Mackinac, a channel that joins Lak ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Financial Institutions Examination Council
The Federal Financial Institutions Examination Council (FFIEC) is a formal U.S. government interagency body composed of five banking regulators that is "empowered to prescribe uniform principles, standards, and report forms to promote uniformity in the supervision of financial institutions". It also oversees real estate appraisal in the United States. Its regulations are contained in title 12 of the Code of Federal Regulations. Composition FFIEC includes five banking regulators—the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB). History FFIEC was established March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA). Housing and real estate The FFIEC was given additional statutory responsibilities by section 340 of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures credit unions. The FDIC is a United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was created by the Banking Act of 1933, enacted during the Great Depression to restore trust in the American banking system. More than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category, and this was increased several times over the years. Since the enactment of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2010, the FDIC insures deposits in member banks up to $250,000 per ownership category. FDIC insurance is backed by the full faith and credit of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Petoskey News-Review
The ''Petoskey News-Review'' is the daily newspaper of Petoskey, Michigan. History Started in 1878 as the ''Petoskey City Record'', after subsequent mergers it became ''The Petoskey Evening News''. In 1953, this paper merged with ''The Northern Michigan Review'' to become the ''Petoskey News-Review''. In 2006, the paper, along with its sister publications, was purchased by Schurz Communications of South Bend, Indiana South Bend is a city in and the county seat of St. Joseph County, Indiana, St. Joseph County, Indiana, on the St. Joseph River (Lake Michigan), St. Joseph River near its southernmost bend, from which it derives its name. As of the 2020 United S .... In 2019, it was sold to GateHouse Media. The paper publishes daily five days a week. References External links * Newspapers published in Michigan Emmet County, Michigan Publications established in 1878 1878 establishments in Michigan Gannett publications {{michigan-newspaper-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking offic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Traverse City Record-Eagle
The ''Traverse City Record-Eagle'' is a daily morning newspaper based in Traverse City, Michigan. It calls itself "Northern Michigan's Newspaper". and is the newspaper of record for Grand Traverse County. History The newspaper was owned by Dow Jones & Company, also publishers of the ''Wall Street Journal''. On August 28, 2006, Dow Jones announced they were putting the ''Record-Eagle'' up for sale, and the paper eventually was purchased by CNHI. The circulation area of the ''Record-Eagle'' covers much of northern Michigan, with a particular emphasis on counties adjacent to Greater Traverse City. In all it services 13 counties -- namely Antrim, Benzie, Charlevoix, Cheboygan, Crawford, Emmet, Grand Traverse, Kalkaska, Leelanau, Manistee, Missaukee, Otsego and Wexford counties, and limited portions of neighboring counties -- in the northwest lower peninsula. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WWTV
WWTV (channel 9) is a television station licensed to Cadillac, Michigan, United States, serving as the CBS affiliate for the northern Lower and eastern Upper peninsulas of Michigan. It is owned by locally based Heritage Broadcasting Group, which provides certain services to Cadillac-licensed dual Fox/ CW+ affiliate WFQX-TV, channel 32 (and its Vanderbilt-licensed full-time satellite, WFUP, channel 45) under a shared services agreement (SSA) with Cadillac Telecasting. Both stations share studios on Broadcast Way (near US 131) in Cadillac, while WWTV's transmitter is located on 130th Avenue in unincorporated Osceola County, just northeast of Tustin. Like other network affiliates serving this vast and mainly rural area, WWTV operates a full-time, full-power satellite in Sault Ste. Marie, WWUP-TV (channel 10), whose transmitter is located approximately south-southeast of Sault Ste. Marie near Goetzville in southeastern Chippewa County (on a tower shared with ABC affiliate W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
