Minnesota Community Bank Is Shut Down

Posted by Orb Staff on January 21, 2013 No Comments
Categories : Residential Mortgage

13133_closed Minnesota Community Bank Is Shut Down 1st Regents Bank, based in Andover, Minn., was closed by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corp. (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with First Minnesota Bank, based in Minnetonka, Minn., to assume all of the deposits of 1st Regents Bank.

As of Sept. 30, 2012, 1st Regents Bank had approximately $50.2 million in total assets and $49.1 million in total deposits.

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Minnesota Community Bank Is Shut Down

Posted by Orb Staff on September 10, 2012 No Comments
Categories : Residential Mortgage

12355_closed Minnesota Community Bank Is Shut Down First Commercial Bank, located in Bloomington, Minn., has become the 41st bank to fail this year.

First Commercial Bank was closed by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corp. (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Republic Bank & Trust Co., headquartered in Louisville, Ky., to assume all of the deposits of First Commercial Bank.

As of June 30, First Commercial Bank had approximately $215.9 million in total assets and $206.8 million in total deposits.

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