Although Q4 is not out yet, you can see the interim reports for CBCR component banks such as Michigan Commerce at the FDIC web site. The report shows a 20 mil Q4 loss for Michigan Commerce (ouch) but an increase in capital levels at MI as the holding company injected 26 mil. I didn't check other component banks yet.
My guess is that Q4 is looking like a "cleanup quarter". CBCR raised some capital from bank sales and probably wrote down bad loans aggressively in Q4 in an effort to show a Q1 profit.
It's mixed news. Capital levels are off the 2% critical point a bit, but they still need to make progress on the earnings front. It's also possible IMO that they are cleaning up the MI balance sheet in preparation to sell it.
Here's the undercapitalized bank list from thestreet.com. This list shows Michigan Commerce with a Q4 loss of only 1.1 mil which would be pretty good. Maybe I misread the first call report? Their list shows Sunrise Bank of Arizona with a small 1.5 mil Q4 loss. Both kept tier 1 capital a little above the 2% critical level.
Still looking at the numbers. The summary report from thestreet.com seems to be correct. I think I mistook the annual loss for the quarterly loss on the first call report - which is a bit tough to read. Looks like a modest loss for CBCR in Q4. Tier 1 capital ratio should be flat to slightly higher I would guess due to a shrinking balance sheet.
Not a return to profitability, but enough stability to help them do a capital plan IMO.