American Bank closing 2 more branches
American Bank of St. Paul, one of the Twin Cities’ riskiest lenders in recent years, has shuttered a second branch this year and plans to close another, the Business Journal reports. American Bank closed its Highland branch this month and plans to close its Phalen branch in St. Paul next month. The bank has been under heightened regulatory scrutiny since the Federal Reserve ordered it to improve its loose lending standards in 2009.
American Bank of St. Paul, one of the Twin Cities’ riskiest lenders in recent years, has shuttered a second branch this year and plans to close another, the Business Journal reports. American Bank closed its Highland branch this month and plans to close its Phalen branch in St. Paul next month. The bank has been under heightened regulatory scrutiny since the Federal Reserve ordered it to improve its loose lending standards in 2009.
