Prompt corrective action directive against Michigan Heritage Bank

The following press release was published by the Board of Governors of the Federal Reserve System on April 7, 2009. It is reproduced in full below.

The Federal Reserve Board on Tuesday announced the issuance of a consent Prompt Corrective Action Directive against Michigan Heritage Bank, Farmington Hills, Michigan, a state chartered member bank.

A copy of the Directive is attached.

Source: Board of Governors of the Federal Reserve System