Michigan Heritage Bancorp, Inc.(fka MHBC)

[Estrella]

Michigan Heritage Bancorp, Inc. Capital Update

FARMINGTON HILLS, Mich., April 15, 2009 /PRNewswire-FirstCall via COMTEX/ -- Michigan Heritage Bancorp, Inc. (OTC: MHBC), the holding company for Michigan Heritage Bank (the "Bank"), announced today that it has signed a Letter of Intent with a Private Investor regarding a transaction that will bring the Bank's capital to a well capitalized level.

The Private Investor has been in discussions with the Bank's regulators and expects to file an application shortly with the Federal Reserve Bank of Chicago requesting its approval for the Private Investor's acquisition of shares of MHBC's stock and the infusion of the required additional capital. The Private Investor will deposit into escrow a portion of the new capital funds during the required regulatory approval process. In addition, the proposed transaction will be subject to the approval of MHBC's shareholders. UHY Advisors has acted as consultants to the Investor and the bank on this matter.

The Bank is headquartered in Farmington Hills, MI and has two additional offices in Novi and Wixom with deposits at year end 2008 totaling $160 million. As of this date virtually all customer deposits are FDIC insured.

Michigan Heritage Bank is a state chartered, full-service commercial bank and wholly owned subsidiary of Michigan Heritage Bancorp, Inc. A member of both the Federal Reserve System and the Federal Home Loan Bank, deposits are FDIC insured. Michigan Heritage Bancorp stock trades on the over-the-counter (OTC) market and quotations are reported on the OTC Bulletin Board under the symbol "MHBC."

Safe Harbor Statement. This press release contains "forward looking statements" within the meaning of the federal securities law regarding proposed developments and operations of the Company. These statements represent the Company's expectations of beliefs concerning future events. Statements containing expressions such as "believes", "anticipates" or "expects" are intended to identify such forward-looking statements. All forward-looking statements involve risks and uncertainties. Although the Company believes its expectations are based upon reasonable assumptions with the bounds of its knowledge of its business and operations, there can be no assurance with the bounds of its knowledge of its business and operations that actual results will not materially differ from expected results. The Company cautions that these and similar statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements, including regional and national economic conditions, substantial changes in levels of market interest rates, credit and other risks of lending and investment activities and competitive and regulatory factors. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statements, to reflect occurrences or unanticipated events of circumstances after the date of such statements.

SOURCE Michigan Heritage Bancorp, Inc.



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