Bank Failure
Patriot Bank Minnesota
BankRegReports is independent of Patriot Bank Minnesota and never asks for online banking logins or passwords.
Closed January 27, 2012 · Forest Lake, MN · FDIC Cert #34823.
- Closing date
- January 27, 2012
- Headquarters
- Forest Lake, MN
- FDIC Certificate
- 34823
- Total assets at closing
- $105.0M
- Total deposits at closing
- $102.8M
- Estimated loss to the insurance fund
- $35.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Resource Bank
Context
On January 27, 2012, regulators closed Patriot Bank Minnesota, headquartered in Forest Lake, MN. At closing, the institution held approximately $105.0M in assets and $102.8M in deposits. The FDIC record names First Resource Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $35.3M.
By assets at closing this is the 1171st largest of the 3,526 bank failures in the FDIC record, and the 34th of 51 in 2012. 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 Patriot Bank Minnesota fail?
Patriot Bank Minnesota was closed by regulators on January 27, 2012.
Who acquired Patriot Bank Minnesota?
The FDIC record names First Resource Bank as the acquiring institution in the resolution of Patriot Bank Minnesota.
How big was Patriot Bank Minnesota when it failed?
Patriot Bank Minnesota had approximately $105.0M in total assets and $102.8M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
Explore: all failures · MN bank events · 2012 events · events hub