##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
 QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended March 31, 2008
 Commission File Number 000-52584
 BIRMINGHAM BLOOMFIELD BANCSHARES, INC.
 
 Michigan
    
    20-1132959(State or other jurisdiction of 
incorporation or organization)
    
    (I.R.S. Employer
Identification No.)
 33583 Woodward Avenue, Birmingham, MI 48009
 (248) 723-7200
  þ o
  Large accelerated filer oAccelerated filer oNon-accelerated filer o(Do not check if a smaller reporting company)Smaller reporting company þ  o þ




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##### 



INDEX
 PART I  FINANCIAL INFORMATION
    
    
    3ITEM 1. FINANCIAL STATEMENTS
    
    
    3ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
    
    
    14ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
    
    
    22ITEM 4T. CONTROLS AND PROCEDURES
    
    
    22PART II. OTHER INFORMATION
    
    
    24ITEM 1. LEGAL PROCEEDINGS
    
    
    24ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
    
    
    24ITEM 3. DEFAULTS UPON SENIOR SECURITIES
    
    
    24ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
    
    
    24ITEM 5. OTHER INFORMATION
    
    
    24ITEM 6. EXHIBITS
    
    
    25Separation Agreement with Richard MillerCertification Pursuant to Rules 13a-15(f)Certification Pursuant to Rules 13a-15(f)Certification Pursuant to Rules 13a-14(b) or 15d-14(b)
  2




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PART I  FINANCIAL INFORMATION
 
 ITEM 1. FINANCIAL STATEMENTS
 BIRMINGHAM BLOOMFIELD BANCSHARES, INC
CONSOLIDATED BALANCE SHEETS
 March 31,
    
    
    December 31,2008
    
    
    2007(unaudited)AssetsCash and cash equivalentsCash
    
    $
    1,647,464
    
    
    $
    1,265,119Federal funds sold
    
    
    5,093,308
    
    
    
    3,874,007Total cash and cash equivalents
    
    
    6,740,772
    
    
    
    5,139,126Securities, available for sale (Note 3)
    
    
    1,892,506
    
    
    
    2,595,930Loans (Note 4)Total loans
    
    
    43,573,345
    
    
    
    37,106,976Less: allowance for loan losses
    
    
    (610,000
    )
    
    
    (560,000
    )Net loans
    
    
    42,963,345
    
    
    
    36,546,976Premises & equipment (Note 6)
    
    
    2,442,556
    
    
    
    2,519,701Interest receivable and other assets
    
    
    417,713
    
    
    
    458,157Total assets
    
    $
    54,456,892
    
    
    $
    47,259,890Liabilities and Shareholders EquityDeposits (Note 5)Non-interest bearing
    
    $
    5,578,611
    
    
    $
    5,385,200Interest bearing
    
    
    38,352,217
    
    
    
    30,877,148Total deposits
    
    
    43,930,828
    
    
    
    36,262,348Interest payable and other liabilities
    
    
    361,509
    
    
    
    237,903Total liabilities
    
    
    44,292,337
    
    
    
    36,500,251Shareholders equityCommon stock, no par valueAuthorized  4,500,000 shares
Issued and outstanding  1,800,000 shares
    
    
    17,034,330
    
    
    
    17,034,330Additional paid in capital  share based payments
    
    
    472,500
    
    
    
    462,000Accumulated deficit
    
    
    (7,423,861
    )
    
    
    (6,799,150
    )Accumulated other comprehensive income
    
    
    81,586
    
    
    
    62,459Total shareholders equity
    
    
    10,164,555
    
    
    
    10,759,639Total liabilities and shareholders equity
    
    $
    54,456,892
    
    
    $
    47,259,890
  3




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 For the Three Months EndedMarch 31,2008
    
    
    2007Interest incomeLoans, including fees
    
    $
    650,141
    
    
    $
    253,417Taxable securities
    
    
    29,145
    
    
    
    Federal funds sold
    
    
    48,300
    
    
    
    161,974Total interest income
    
    
    727,586
    
    
    
    415,391Interest expenseDeposits
    
    
    313,742
    
    
    
    169,643Total interest expense
    
    
    313,742
    
    
    
    169,643Net interest income
    
    
    413,844
    
    
    
    245,748Provision for loan losses
    
    
    50,000
    
    
    
    35,000Net interest income after
provision for loan losses
    
    
    363,844
    
    
    
    210,748Non-interest incomeService charges and other fees
    
    
    13,537
    
    
    
    5,075Other income
    
    
    24,448
    
    
    
    32,761Total non-interest income
    
    
    37,985
    
    
    
    37,836Non-interest expenseSalaries and benefits
    
    
    549,064
    
    
    
    434,692Occupancy & equipment
    
    
    218,960
    
    
    
    207,753Share based payments
    
    
    10,500Data processing
    
    
    43,727
    
    
    
    56,028Advertising and public relations
    
    
    23,216
    
    
    
    68,920Professional fees
    
    
    87,270
    
    
    
    60,901Printing and office supplies
    
    
    6,536
    
    
    
    11,884Other expense
    
    
    87,267
    
    
    
    59,751Total non-interest expense
    
    
    1,026,540
    
    
    
    899,929Net loss before taxes
    
    
    (624,711
    )
    
    
    (651,345
    )Income taxes
    
    
    
    
    
    
    Net loss
    
    $
    (624,711
    )
    
    $
    (651,345
    )Basic loss per share
    
    $
    (0.35
    )
    
    $
    (0.36
    )Diluted loss per share
    
    $
    (0.35
    )
    
    $
    (0.36
    )
  4




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC
CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY
January 1, 2008 to March 31, 2008
(Unaudited)
 Accumulated OtherAdditional Paid in
    
    
    
    
    
    
    ComprehensiveCommon Stock
    
    
    Capital
    
    
    Accumulated Deficit
    
    
    Income
    
    
    TotalBalance at January 1, 2008
    
    $
    17,034,330
    
    
    $
    462,000
    
    
    $
    (6,799,150
    )
    
    $
    62,459
    
    
    $
    10,759,639Share based payments
    
    
    
    
    
    
    10,500
    
    
    
    
    
    
    
    
    
    
    
    10,500Comprehensive loss:Net loss
    
    
    
    
    
    
    
    
    
    
    (624,711
    )
    
    
    
    
    
    
    (624,711
    )Unrealized gain on securities
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    19,127
    
    
    
    19,127Total comprehensive loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (605,584
    )Balance at March 31, 2008
    
    $
    17,034,330
    
    
    $
    472,500
    
    
    $
    (7,423,861
    )
    
    $
    81,586
    
    
    $
    10,164,555
  5




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 For the Three Months EndedMarch 31,2008
    
    
    2007Cash flows from operating activitiesNet loss
    
    $
    (624,711
    )
    
    $
    (651,345
    )Share based payments expense
    
    
    10,500
    
    
    
    Provision for loan losses
    
    
    50,000
    
    
    
    35,000Accretion of securities
    
    
    (3,600
    )
    
    
    Gain on calls of securities
    
    
    (6,473
    )
    
    
    Depreciation expense
    
    
    78,000
    
    
    
    82,500Net decrease (increase) in other assets
    
    
    40,444
    
    
    
    (36,949
    )Net increase in other liabilities
    
    
    123,606
    
    
    
    30,225Net cash used in operating activities
    
    
    (332,234
    )
    
    
    (540,569
    )Cash flows from investing activitiesIncrease in loans
    
    
    (6,466,369
    )
    
    
    (2,369,457
    )Proceeds from sales, calls or maturities of securities
    
    
    732,624
    
    
    
    Purchases of premises and equipment
    
    
    (855
    )
    
    
    (650,946
    )Net cash used in investing activities
    
    
    (5,734,600
    )
    
    
    (3,020,403
    )Cash flows from financing activitiesIncrease in deposits
    
    
    7,668,480
    
    
    
    13,109,621Net cash provided by financing activities
    
    
    7,668,480
    
    
    
    13,109,621Increase in cash and cash equivalents
    
    
    1,601,646
    
    
    
    9,548,649Cash and cash equivalents at the
beginning of the period
    
    
    5,139,126
    
    
    
    8,551,001Cash and cash equivalents at the
end of the period
    
    $
    6,740,772
    
    
    $
    18,099,650Supplemental cash flow information:Cash paid for interest:
    
    $
    252,215
    
    
    $
    155,334
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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 1  Summary of Significant Accounting Policies
 Basis of Statement Presentation
    Principles of Consolidation
  Recent Accounting Developments
 Establishing Standards on Measuring Fair Value
  The Fair Value Option for Financial Assets and Financial Liabilities
  Non-controlling Interest in Consolidated Financial Statements  an amendment to ARB No. 51
 Non-controlling Interest in Consolidated Financial
Statements  an amendment to ARB No. 51.
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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 1  Summary of Significant Accounting Policies  continued
  Staff Accounting Bulletin 109
 Accounting for Servicing of Financial Assets The Fair Value
Option of Financial Assets and Financial Liabilities
 Staff Accounting Bulletin 110
 Share-Based Payment
 Disclosures about Derivative Instruments and Hedging Activities  an amendment of SFAS 133
 Disclosures about Derivative Instruments and Hedging
Activities  an amendment of SFAS 133.
 Note 2  Fair Value Accounting
  8




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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 2  Fair Value Accounting  continued
 Valuation Hierarchy
  
    
    Level 1  inputs to the valuation methodology are quoted prices (unadjusted) for
identical assets or liabilities in active markets which the Corporation can participate.
    
    Level 2  inputs to the valuation methodology include quoted prices for similar assets
and liabilities in active markets, and inputs that are observable for the asset or
liability, either directly or indirectly, for substantially the full term of the financial
instrument.
    
    Level 3  inputs to the valuation methodology are unobservable and significant to the
fair value measurement, and include inputs that are available in situations where there is
little, if any, market activity for the related asset or liability.
   Assets
 Securities available for sale
    Quoted Prices in
    
    
    SignificantActive Markets
    
    
    Other
    
    
    Significantfor Identical
    
    
    Observable
    
    
    UnobservableAssets
    
    
    Inputs
    
    
    Inputs
    
    
    Balance at MarchLevel 1
    
    
    Level 2
    
    
    Level 3
    
    
    31, 2008Securities available for sale
    
    $
    1,893
    
    
    $
    
    
    
    $
    
    
    
    $
    1,893
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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 3  Securities
  Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    unrealized
    
    
    unrealized
    
    
    fairMarch 31, 2008 (unaudited)
    
    cost
    
    
    gains
    
    
    losses
    
    
    valueSecurities available for sale:Mortgage backed securities
    
    $
    1,811
    
    
    $
    82
    
    
    $
    
    
    
    $
    1,893Total securities available for sale
    
    $
    1,811
    
    
    $
    82
    
    
    $
    
    
    
    $
    1,893
 Gross
    
    
    Gross
    
    
    EstimatedAmortized
    
    
    unrealized
    
    
    unrealized
    
    
    fairDecember 31, 2007
    
    cost
    
    
    gains
    
    
    losses
    
    
    valueSecurities available for sale:U.S. Government agency securities
    
    $
    678
    
    
    $
    7
    
    
    $
    
    
    
    $
    685Mortgage backed securities
    
    
    1,855
    
    
    
    56
    
    
    
    
    
    
    
    1,911Total securities available for sale
    
    $
    2,533
    
    
    $
    63
    
    
    $
    
    
    
    $
    2,596
   EstimatedAmortized
    
    
    faircost
    
    
    valueMortgage backed securities,
due after 10 years
    
    $
    1,811
    
    
    $
    1,893
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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 4  Loans
  March 31,
    
    
    December 31,2008
    
    
    2007(unaudited)Mortgage loans on real estate:Residential 1 to 4 family
    
    $
    1,815
    
    
    $
    1,816Multifamily
    
    
    2,608
    
    
    
    1,864Commercial
    
    
    18,023
    
    
    
    13,601Construction
    
    
    2,690
    
    
    
    2,348Second mortgage
    
    
    772
    
    
    
    758Equity lines of credit
    
    
    10,104
    
    
    
    8,696Total mortgage loans on real estate
    
    
    36,012
    
    
    
    29,083Commercial loans
    
    
    7,428
    
    
    
    7,898Consumer installment loans
    
    
    192
    
    
    
    177Total loans
    
    
    43,632
    
    
    
    37,158Less:Allowance for loan losses
    
    
    610
    
    
    
    560Net deferred loan fees
    
    
    59
    
    
    
    51Net loans
    
    $
    42,963
    
    
    $
    36,547
  Three months endedMarch 31,(unaudited)
    
    2008
    
    
    2007Balance at beginning of period
    
    $
    560
    
    
    $
    195Charge-offs
    
    
    
    
    
    
    Recoveries
    
    
    
    
    
    
    Provision for loan losses
    
    
    50
    
    
    
    35Balance at end of period
    
    $
    610
    
    
    $
    230
  11




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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 5  Deposits
  March 31,
    
    
    December 31,2008
    
    
    2007(unaudited)Non-interest bearing deposits
    
    $
    5,579
    
    
    $
    5,385NOW accounts
    
    
    8,726
    
    
    
    9,727Savings and money market accounts
    
    
    11,910
    
    
    
    11,620Certificates of deposit <$100,000
    
    
    7,474
    
    
    
    2,008Certificates of deposit >$100,000
    
    
    10,242
    
    
    
    7,522Total
    
    $
    43,931
    
    
    $
    36,262
  <$100,000
    
    
    >$100,000
    
    
    TotalWithin 12 months
    
    $
    7,443
    
    
    $
    10,242
    
    
    $
    17,685> 12 months
    
    
    31
    
    
    
    
    
    
    
    31Total
    
    $
    7,474
    
    
    $
    10,242
    
    
    $
    17,716
 Note 6  Leases and Commitments
   2008
    
    $
    2062009
    
    
    2802010
    
    
    2862011
    
    
    2912012
    
    
    298Thereafter
    
    
    3,670Total
    
    $
    5,031
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BIRMINGHAM BLOOMFIELD BANCSHARES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 Note 7  Minimum Regulatory Capital Requirements
   For Capital
    
    To beActual
    
    Adequacy Purposes
    
    Well-CapitalizedAmount
    
    Ratio
    
    Amount
    
    Ratio
    
    Amount
    
    RatioAs of March 31, 2008Total risk-based capital
(to risk weighted assets)
Bank of Birmingham
    
    $
    10,042
    
    
    
    22.0
    %
    
    $
    3,648
    
    
    
    8.0
    %
    
    $
    4,560
    
    
    
    10.0
    %Tier I capital
(to risk weighted assets)
Bank of Birmingham
    
    $
    9,462
    
    
    
    20.8
    %
    
    $
    1,824
    
    
    
    4.0
    %
    
    $
    2,736
    
    
    
    6.0
    %Tier I capital
(to average assets)
Bank of Birmingham
    
    $
    9,462
    
    
    
    18.5
    %
    
    $
    2,050
    
    
    
    4.0
    %
    
    $
    2,563
    
    
    
    5.0
    %As of December 31, 2007Total risk-based capital
(to risk weighted assets)
Bank of Birmingham
    
    $
    10,553
    
    
    
    26.8
    %
    
    $
    3,152
    
    
    
    8.0
    %
    
    $
    3,940
    
    
    
    10.0
    %Tier I capital
(to risk weighted assets)
Bank of Birmingham
    
    $
    10,050
    
    
    
    25.5
    %
    
    $
    1,576
    
    
    
    4.0
    %
    
    $
    2,364
    
    
    
    6.0
    %Tier I capital
(to average assets)
Bank of Birmingham
    
    $
    10,050
    
    
    
    20.3
    %
    
    $
    1,984
    
    
    
    4.0
    %
    
    $
    2,480
    
    
    
    5.0
    %
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ITEM 2. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
 Disclosure Regarding Forward Looking Statements
   14




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
 OVERVIEW
      PLAN OF OPERATION
  15




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
    FINANCIAL OVERVIEW
  FINANCIAL CONDITION
 Cash and Cash Equivalents
  Investments
  Loans
  16




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
  Credit Quality
      Premises and Equipment
  Deposits
  17




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
  As of March 31,2008(000s omitted)
    
    Balance
    
    
    PercentageNoninterest bearing demand
    
    $
    5,579
    
    
    
    12.7
    %NOW accounts
    
    
    8,726
    
    
    
    19.9Money market
    
    
    11,548
    
    
    
    26.3Savings
    
    
    362
    
    
    
    0.8Time deposits under $100,000
    
    
    7,474
    
    
    
    17.0Time deposits over $100,000
    
    
    10,242
    
    
    
    23.3Total deposits
    
    $
    43,931
    
    
    
    100.0
    %
 18




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BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
 RESULTS OF OPERATIONS
 Net Interest Income
   Three Months Ended March 31,2008
    
    
    2007Average
    
    
    Interest
    
    
    
    
    
    
    Average
    
    
    InterestBalance
    
    
    Earned/
    
    
    Yield/
    
    
    Balance
    
    
    Earned/
    
    
    Yield/(000s)
    
    
    Paid
    
    
    Rate
    
    
    (000s)
    
    
    Paid
    
    
    RateInterest-earning assetsLoans
    
    $
    39,805
    
    
    $
    650,141
    
    
    
    6.53
    %
    
    $
    14,109
    
    
    $
    253,417
    
    
    
    7.18
    %Securities
    
    
    2,086
    
    
    
    29,145
    
    
    
    5.59
    %
    
    
    
    
    
    
    
    
    
    
    N/AFederal funds sold
    
    
    5,937
    
    
    
    48,300
    
    
    
    3.25
    %
    
    
    12,625
    
    
    
    161,974
    
    
    
    5.13
    %Total interest-earning assets
    
    
    47,828
    
    
    
    727,586
    
    
    
    6.09
    %
    
    
    26,734
    
    
    
    415,391
    
    
    
    6.22
    %Cash and due from banks
    
    
    1,258
    
    
    
    
    
    
    
    
    
    
    
    1,267All other assets
    
    
    2,175
    
    
    
    
    
    
    
    
    
    
    
    2,537Total assets
    
    $
    51,261
    
    
    
    
    
    
    
    
    
    
    $
    30,538Interest-bearing liabilitiesNOW accounts
    
    $
    8,909
    
    
    
    59,635
    
    
    
    2.68
    %
    
    $
    2,455
    
    
    
    22,714
    
    
    
    3.70
    %Money market
    
    
    11,640
    
    
    
    85,985
    
    
    
    2.95
    %
    
    
    5,717
    
    
    
    75,381
    
    
    
    5.27
    %Savings
    
    
    332
    
    
    
    1,318
    
    
    
    1.59
    %
    
    
    181
    
    
    
    670
    
    
    
    1.48
    %Time deposits
    
    
    13,930
    
    
    
    166,804
    
    
    
    4.79
    %
    
    
    5,486
    
    
    
    70,878
    
    
    
    5.17
    %Total interest-bearing liabilities
    
    
    34,811
    
    
    
    313,742
    
    
    
    3.61
    %
    
    
    13,839
    
    
    
    169,643
    
    
    
    4.90
    %Demand deposits
    
    
    5,683
    
    
    
    
    
    
    
    
    
    
    
    3,527All other liabilities
    
    
    206
    
    
    
    
    
    
    
    
    
    
    
    73Total liabilities
    
    
    40,700
    
    
    
    
    
    
    
    
    
    
    
    17,439Shareholders equity
    
    
    10,561
    
    
    
    
    
    
    
    
    
    
    
    13,099Total liabilities and shareholders
equity
    
    $
    51,261
    
    
    
    
    
    
    
    
    
    
    $
    30,538Net interest income
    
    
    
    
    
    $
    413,844
    
    
    
    
    
    
    
    
    
    
    $
    245,748Interest rate spread (1)
    
    
    
    
    
    
    
    
    
    
    2.48
    %
    
    
    
    
    
    
    
    
    
    
    1.32
    %Net interest margin (2)
    
    
    
    
    
    
    
    
    
    
    3.46
    %
    
    
    
    
    
    
    
    
    
    
    3.68
    %Ratio of interest-earning assets
to interest-bearing liabilities
    
    
    1.37
    
    
    
    
    
    
    
    
    
    
    
    1.93
 
 (1)
    
    Interest rate spread is the difference between rates of interest-earning assets and rates
of interest paid on interest-bearing liabilities(2)
    
    Net interest margin is the net interest income divided by average interest-earning assets. 19




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##### Table of Contents



BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
  Provision for Loans Losses
  Non-Interest Income
  Non-Interest Expense
  20




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##### Table of Contents



BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
 Income Taxes
  LIQUIDITY AND CAPITAL RESOURCES; ASSET/LIABILITY MANAGEMENT
     21




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##### Table of Contents



BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
  Off-Balance Sheet Arrangements
  
 ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
     
 ITEM 4T. CONTROLS AND PROCEDURES
   22




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##### Table of Contents



BIRMINGHAM BLOOMFIELD BANCSHARES, INC.  Managements Discussion and Analysis of Financial Condition and Results of Operations
   23




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##### Table of Contents



PART II. OTHER INFORMATION
 
 ITEM 1. LEGAL PROCEEDINGS.
  ITEM 1A. RISK FACTORS.
  
 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
  
 ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
  
 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
  
 ITEM 5. OTHER INFORMATION.
  24




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##### Table of Contents



ITEM 6. EXHIBITS.
 Exhibit Number
    
    Description of Exhibit10.1
    
    Separation Agreement with Richard Miller (filed herewith).31.1
    
    Rule 13a-14(a) Certification of Chief Executive Officer.31.2
    
    Rule 13a-14(a) Certification of Acting Chief Financial Officer.32
    
    Certification pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
 25




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##### Table of Contents



SIGNATURES
  BIRMINGHAM BLOOMFIELD BANCSHARES, INC.Date: May 15, 2008
    By:
    /s/ Robert E. FarrRobert E. FarrChief Executive OfficerDate: May 15, 2008
    By:
    /s/ Robert E. FarrRobert E. FarrActing Chief Financial Officer 26




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##### Table of Contents



EXHIBIT INDEX
 ExhibitNumber
    
    Description of Exhibit10.1
    
    Separation Agreement with Richard Miller (filed herewith)31.1
    
    Certification pursuant to Rules 13a-15(f) and 15d-15(f) of
the Securities Exchange Act31.2
    
    Certification pursuant to Rules 13a-15(f) and 15d-15(f) of
the Securities Exchange Act32
    
    Certification pursuant to Rules 13a-14(b) or Rule 15d-14(b)
of the Securities Exchange Act and 18 U.S.C. §1350
 27