Bank Failure
St. Stephen State Bank
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Closed January 15, 2010 · St. Stephen, MN · FDIC Cert #17522.
- Closing date
- January 15, 2010
- Headquarters
- St. Stephen, MN
- FDIC Certificate
- 17522
- Total assets at closing
- $22.9M
- Total deposits at closing
- $23.9M
- Estimated loss to the insurance fund
- $7.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First State Bank of St. Joseph
Context
On January 15, 2010, regulators closed St. Stephen State Bank, headquartered in St. Stephen, MN. At closing, the institution held approximately $22.9M in assets and $23.9M in deposits. The FDIC record names First State Bank of St. Joseph as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $7.7M.
By assets at closing this is the 2237th largest of the 3,526 bank failures in the FDIC record, and the 152nd of 157 in 2010. 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 St. Stephen State Bank fail?
St. Stephen State Bank was closed by regulators on January 15, 2010.
Who acquired St. Stephen State Bank?
The FDIC record names First State Bank of St. Joseph as the acquiring institution in the resolution of St. Stephen State Bank.
How big was St. Stephen State Bank when it failed?
St. Stephen State Bank had approximately $22.9M in total assets and $23.9M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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