Wyoming, Minn. bank fails, is acquired by Central Bank of Stillwater

The RiverBank had been losing money since 2009 and regulators considered it undercapitalized. Its six branches are now part of Central Bank, which has acquired several failed banks over the last two years.
Author:
Updated:
Original:

The RiverBank had been losing money since 2009 and regulators considered it undercapitalized. Its six branches are now part of Central Bank, which has acquired several failed banks over the last two years.

Next Up

Screen Shot 2021-04-12 at 8.54.21 PM

MN police leader on Daunte Wright: 'If he would've just complied'

Brian Peters is a former commander with the Brooklyn Center Police Department.

ATV

Women killed in ATV crash in Paul Bunyan State Forest

She wasn't wearing a helmet and alcohol was involved, officials say.

49920879552_ef6458affd_o2

As golf season approaches, book your round now at Dacotah Ridge GC

The stunning course is designed by world-renowned architect Rees Jones.

51113883716_68153add1b_k

Aggressive police response on third night of Daunte Wright protests

Law enforcement used armored vehicles, tear gas, and fired rubber bullets, but say officers were targeted with bricks and other projectiles.

st. paul police homicide april 13 2021

Woman found suffering from 'fatal wound' in St. Paul apartment

Her death marks the 10th homicide in the city this year.

Screen Shot 2021-04-14 at 6.40.37 AM

15-vehicle pileup closes Hwy. 169 near Maple Grove

The incident happened shortly before 5 a.m.

Grand casino

Grand Casino celebrates 30th anniversary with more than cake

Hundreds of thousands of winning dollars are on the table.

Brodd defense witness

As defense starts, expert argues Chauvin's use of force was reasonable

Use-of-force expert Barry Brodd testified on behalf of the defense.

Chet Holmgren

Chet Holmgren named Minnesota's Mr. Basketball

Minnehaha Academy produces back-to-back award winners for the second time in state history.

Byron Buxton

Red Sox out-slug Twins in chilly matinee

Bobby Dalbec hit two RBI doubles to hand the Twins their third straight loss.

Related

St. Cloud-based bank buys failed Georgia-based bank

Stearns Bank agreed to take over Covenant Bank & Trust after regulators shut it down Friday. The nationwide tally of bank failures is now 15 for the year, including two in Minnesota.

St. Cloud-based Stearns Bank buys Georgia banking company

St. Cloud-based Stearns Bank purchased all of the assets of the three-branch Jasper Banking Co. of Jasper, Ga., after regulators shut the bank down Friday, according to the Federal Deposit Insurance Corp. Since 2008, Stearns has purchased eight failed banks in government-assisted sales.

FDIC shutters another Minnesota bank

Maple Grove-based InterBank was among four banks in three states closed by federal regulators Friday. Great Southern Bank based in Missouri will taken over InterBanks's four branches in the Twin Cities metro starting Monday. The FDIC has now closed 21 failed U.S. banks this year.

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.

Feds close Minnesota bank

The FDIC shutdown Patriot Bank in Forest Lake Friday. First Resource Bank in Savage agreed to take over the assets and deposits from the failed Minnesota bank. There have been seven U.S. bank failures in 2012. Patriot Bank is the first to fail in Minnesota this year.

St. Paul's Western Bank acquired by Omaha company

Family-owned Western Bank was sold to a Nebraska holding company, according to the Pioneer Press. Western Bank President and CEO Tony Lemaire, "It's business as usual, except with more products, technology and capacity to provide our customers an even better banking experience."

Somalis protest by closing bank accounts

A group of Twin Cities Somalis are frustrated with banks no longer willing to transfer money to Somalia. In response, Somali-American customers are removing their money and closing bank accounts. They want banks to restore the wire service to Africa. Banks fear the money transfers could violate anti-terror regulations.

U.S. Bank closes U.C. Davis branch because of 'Occupy' protesters

The Minneapolis-based bank closed a branch at the University of California-Davis campus because of "several weeks of business interruption" that a spokeswoman said threatened the safety of employees and customers.