Bank failure · SD

Bankfirst (Sioux Falls, SD) — failed July 17, 2009

Bankfirst of Sioux Falls, South Dakota was closed on July 17, 2009 and resolved through a purchase and assumption. Alerus Financial, National Association (ND) took over its insured deposits. At failure it held $210.8M in assets and $232.2M in deposits. The FDIC's estimated loss on the failure is $110.2M (52.3% of assets).