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Michigan National Bank
From Wikipedia, the free encyclopedia
Michigan National Bank was established on 31 December 1940 when Howard J Stoddard consolidatied six Michigan banks: First National Bank and Trust Company of Grand Rapids, First National Trust and Savings Bank of Port Huron, Lansing National Bank, Battle Creek's Security National Bank, National Bank of Saginaw and First National Bank of Marshall. It purchased and absorbed the National Bank of Flint in 1942.
ABN AMRO announced on 22 November 2000, that it had signed a definitive agreement with National Australia Bank Ltd for the acquisition of Michigan National Corporation (MNC) for USD 2.75 billion in cash. MNC is a commercial bank holding company and since 1995, a wholly owned subsidiary of the National Australia Bank. At the time, it had total assets amounting to USD 11.6 billion. MNC's primary subsidiary is Michigan National Bank with 3,600 employees, 184 branches and 332 ATMs. On 2 April 2001, MNC was acquired by ABN AMRO North America, Inc.
The 2001 acquisition created the second largest bank in Michigan as ranked by assets. Because of the merger between Standard Federal Bank and Michigan National Bank the name of the bank was changed to Standard Federal Bank NA with effect from 9 October 2001. As a result of this merger, the Standard Federal Bank brand operated approximately 300 branches and 850 ATMs in the state of Michigan, more than any other financial institution.
As of 12 September 2005, Standard Federal Bank changed its name to LaSalle Bank Midwest N.A.
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