Bank failure Friday

February 5, 2010

Just one small bank this week it appears…

#16

  • Failed bank: First American State Bank of Minnesota, Hancock MN
  • Acquiring bank: Community Development Bank, Ogema MN
  • Vitals: at 12/31/09, assets of $18.2 million, deposits of $16.3 million
  • Estimated DIF damage: $3.1 million
One comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

…it isn’t 5:00 on the West Coast yet. Patience, Grasshopper…

Posted by PDXDonSmith | Report as abusive

[...] into the new year, and only 16 banks have been put into receivership, with none this week and only one last week. At that rate, we’ll see 136 closures in 2010, short of the 140 that were closed [...]

[...] into the new year, and only 16 banks have been put into receivership, with none this week and only one last week. At that rate, we’ll see 136 closures in 2010, short of the 140 that were closed [...]