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Failures by State

Bank Failures in Minnesota

70 FDIC-insured banks headquartered in Minnesota have failed since 1934. The most recent was Northern Star Bank on December 19, 2014. The worst year was 1987, with 10 failures. Failed banks held $7.36B in assets at closing.

70
Failures
1934 to 2014
$7.36B
Failed assets
At closing
$1.57B
Estimated DIF loss
FDIC estimate
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Largest bank failures in Minnesota

Date Bank City Assets Acquirer or resolution
Feb 13, 1989 Midwest Federal Savings Minneapolis $3.26B Branch sale
Apr 27, 2012 Inter Savings Bank, FSB D/b/a/ Interbank, FSB Maple Grove $463.8M Great Southern Bank
Aug 28, 2009 MainStreet Bank Forest Lake $458.5M Central Bank
Feb 24, 2012 Home Savings of America Little Falls $434.1M —
Oct 7, 2011 The Riverbank Wyoming $419.7M Central Bank
Sep 7, 2012 First Commercial Bank Bloomington $215.9M Republic Bank & Trust Company
Nov 6, 2009 Prosperan Bank Oakdale $197.4M Alerus Financial, N.A.
May 11, 1990 United Savings Bank, FSB Windom $161.5M Branch sale
Jan 27, 2012 Patriot Bank Minnesota Forest Lake $105.0M First Resource Bank
Jul 23, 2010 Community Security Bank New Prague $100.6M Roundbank

Minnesota bank failures by year

Year Failures Failed assets
2014 1 $18.8M
2013 1 $49.6M
2012 4 $1.22B
2011 2 $441.2M
2010 8 $353.2M
2009 6 $964.7M
2008 1 $52.9M
2000 1 $25.9M
1992 1 $30.3M
1991 1 $54.6M
1990 4 $300.5M
1989 2 $3.27B
1988 7 $103.4M
1987 10 $140.8M
1986 5 $114.9M
1985 6 $140.1M
1984 4 $70.0M
1983 1 $13.9M
1942 1 $91K
1939 1 $304K
1938 1 $135K
1937 1 $99K
1934 1 $91K

Every bank failure in Minnesota

Date Bank City Assets Acquirer or resolution
Dec 19, 2014 Northern Star Bank Mankato $18.8M Bankvista
Jan 18, 2013 1st Regents Bank Andover $49.6M First Minnesota Bank
Sep 7, 2012 First Commercial Bank Bloomington $215.9M Republic Bank & Trust Company
Apr 27, 2012 Inter Savings Bank, FSB D/b/a/ Interbank, FSB Maple Grove $463.8M Great Southern Bank
Feb 24, 2012 Home Savings of America Little Falls $434.1M —
Jan 27, 2012 Patriot Bank Minnesota Forest Lake $105.0M First Resource Bank
Oct 7, 2011 The Riverbank Wyoming $419.7M Central Bank
Apr 15, 2011 Rosemount National Bank Rosemount $21.5M Central Bank
Dec 17, 2010 Community National Bank Lino Lakes $31.6M Farmers & Merchants Savings Bank
Jul 23, 2010 Community Security Bank New Prague $100.6M Roundbank
May 21, 2010 Pinehurst Bank St. Paul $61.2M Coulee Bank
May 7, 2010 Access Bank Champlin $32.0M Prinsbank
Mar 19, 2010 State Bank of Aurora Aurora $28.2M Northern State Bank
Feb 5, 2010 1st American State Bank of Minnesota Hancock $18.2M Community Development Bank, FSB
Jan 29, 2010 Marshall Bank, N.A. Hallock $58.6M United Valley Bank
Jan 15, 2010 St. Stephen State Bank St. Stephen $22.9M First State Bank of St. Joseph
Nov 6, 2009 Prosperan Bank Oakdale $197.4M Alerus Financial, N.A.
Oct 23, 2009 Riverview Community Bank Ostego $99.1M Central Bank
Oct 2, 2009 Jennings State Bank Spring Grove $52.3M Central Bank
Sep 11, 2009 Brickwell Community Bank Woodbury $72.6M Cortrust Bank, N.A.
Aug 28, 2009 MainStreet Bank Forest Lake $458.5M Central Bank
Jun 26, 2009 Horizon Bank Pine City $84.8M Stearns Bank, N.A.
May 30, 2008 First Integrity Bank, N.A. Staples $52.9M First International Bank and Trust
Jul 14, 2000 Town & Country Bank of Almelund Almelund $25.9M S&C Bank, Minnesota
Jul 17, 1992 State Bank of Springfield Springfield $30.3M Southwest State Bank
Aug 9, 1991 First FS & La of Thief River Falls Thief River Falls $54.6M NO. State BK of Thief RIV.
Nov 30, 1990 Boundary Waters State Bank Ely $13.4M Stearns County National Ban
May 11, 1990 United Savings Bank, FSB Windom $161.5M Branch sale
Mar 16, 1990 Lakeland Savings Bank FSB Detroit Lakes $79.6M First Security State Bank
Feb 9, 1990 Fairmont Federal Savings Assoc. Fairmont $46.0M First Farmers & Merchant NB
Nov 9, 1989 The Lee State Bank Browerville $13.4M First National Bank of Long
Feb 13, 1989 Midwest Federal Savings Minneapolis $3.26B Branch sale
Sep 30, 1988 Watson State Bank Watson $13.7M Minnwest Bank Montevideo
Aug 26, 1988 Biwabik State Bank Biwabik $3.2M First National Bank
Jul 21, 1988 The First National Bank of Blooming Prairi Blooming Prairie $20.0M First Amn BK Blooming PR
Apr 29, 1988 Oak Park Bank Oak Park Heights $21.1M St Croix Valley Bank
Apr 8, 1988 Citizens State Bank of Eagle Bend Eagle Bend $10.0M Lake Country State Bank
Mar 18, 1988 State Bank of Morgan Morgan $20.3M Farmers&merchants STB SP
Mar 18, 1988 Citizens State BK of Gibbon Gibbon $15.1M Minnesota Valley Bank
Oct 2, 1987 State Bank of Greenwald Greenwald $23.3M Rural American BK Greenw
Oct 1, 1987 Clay County State Bank Dilworth $10.1M Northwestern STB of Ulen
Sep 11, 1987 First State Bank of Rollingstone Rollingstone $15.2M Eastwood Bank St Charles
Aug 21, 1987 People's State Bank of Mazeppa Mazeppa $21.6M First State Bank of Red
Jun 26, 1987 Lanesboro State Bank Lanesboro $11.4M Goodhue CNTY NB of Red W
May 29, 1987 First National Bank of Wilmont Wilmont $13.3M Farmers STB of Mountain
May 14, 1987 Todd County State Bank Long Prairie $15.4M First NB of Long Prairie
May 14, 1987 The First National Bank of Elbow Lake Elbow Lake $14.2M First NB of Fergus Falls
Mar 13, 1987 Beaver Creek State Bank Beaver Creek $7.3M Citizens STB of Silver L
Mar 5, 1987 First National Bank in West Concord West Concord $9.1M Farmers STB of West Conc
Dec 19, 1986 Lakeland State Bank Pequot Lakes $49.4M Northern NB of Bemidji

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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