Bank Failure
1st Regents Bank
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Closed January 18, 2013 · Andover, MN · FDIC Cert #57157.
- Closing date
- January 18, 2013
- Headquarters
- Andover, MN
- FDIC Certificate
- 57157
- Total assets at closing
- $49.6M
- Total deposits at closing
- $49.1M
- Estimated loss to the insurance fund
- $12.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Minnesota Bank
Context
On January 18, 2013, regulators closed 1st Regents Bank, headquartered in Andover, MN. At closing, the institution held approximately $49.6M in assets and $49.1M in deposits. The FDIC record names First Minnesota Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $12.2M.
By assets at closing this is the 1661st largest of the 3,526 bank failures in the FDIC record, and the 16th of 24 in 2013. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did 1st Regents Bank fail?
1st Regents Bank was closed by regulators on January 18, 2013.
Who acquired 1st Regents Bank?
The FDIC record names First Minnesota Bank as the acquiring institution in the resolution of 1st Regents Bank.
How big was 1st Regents Bank when it failed?
1st Regents Bank had approximately $49.6M in total assets and $49.1M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Oct 30, 2013 | Bank of Jackson County | $24.7M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Community South Bank | $386.9M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
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