4 of 51 U.S. bank failures were in Minnesota - Bring Me The News

4 of 51 U.S. bank failures were in Minnesota


Banks generally had a good 2012 – financial institutions nationwide ended the year with their best profits since 2006 and fewer failures than at any time since the financial crisis struck in 2008, the Associated Press reported.

Banks are earning more, lending more freely, and bank failures have declined. In 2009, 140 banks failed. In 2010, that number climbed to 157, but then dropped to 92 last year and fell to just 51 in 2012. Of those, four were in Minnesota (with date of closure and bank assets):

Patriot Bank Minnesota, Forest Lake, Jan. 27, $105 million

Home Savings of America, Little Falls, Feb. 24, $434.1 million

Inter Savings Bank, Maple Grove, April 27, $481.6 million

First Commercial Bank, Bloomington, Sept. 7, $215.9 million

Here's the AP state-by-state list of bank failures in 2012.

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