Website: N/A
Stock Symbol: NASDAQ: DEAR
Market Value: N/A (in millions)
Dearborn Bancorp, Inc. (the “Corporation”), a Michigan corporation, is a bank
holding corporation owning all the common stock of the Community Bank of
Dearborn (the “Bank”), a Michigan banking corporation which commenced business
on February 28, 1994. The Bank is the only commercial bank headquartered in
Dearborn, Michigan and conducts business primarily in Wayne, Macomb, Oakland and
Washtenaw Counties, Michigan. On October 29, 2004, the Corporation acquired the
Bank of Washtenaw from Pavillion Bancorp for $15.1 million in cash. This
transaction is discussed in further detail in the Corporation’s 2004 Annual
Report to Stockholders.
Background
The liberalization of Michigan’s branch banking laws, together with the
expansion of interstate banking, has led to substantial consolidation of the
banking industry in Michigan, including within the county in which the Bank has
its executive offices.