March 18, 2009 (FinancialWire) -- Birmingham Bloomfield Bancshares, Inc. (OTCBB: BBBI) (Current Market Cap: US$3.60 Mil.) said that it has received preliminary approval from the U.S. Department of the Treasury for around $1.635 million under the Treasury's TARP Capital Purchase Program.

The preliminary approval is subject to the program's conditions and the execution of a definitive agreement and is expected to be finalized in April, according to BBBI.

Birmingham Bloomfield CEO Robert E. Farr said, "The injection of TARP funds will both strengthen our balance sheet and enable us to prudently increase lending."

He added that, "One especially important commercial-lending area for us is the area's small and medium companies, which have been virtually squeezed out of the credit markets."

Birmingham, Michigan-based Birmingham Bloomfield Bancshares is the holding company for Bank of Birmingham, a state-chartered bank with offices in Birmingham, and Bloomfield Township, Michigan. Bank of Birmingham serves the Oakland County communities of Birmingham, Franklin, Beverly Hills, and Bingham Farms.

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