Bank failure · MN
Community National Bank (Lino Lakes, MN) — failed December 17, 2010
Community National Bank of Lino Lakes, Minnesota was closed on December 17, 2010 and resolved through a purchase and assumption. Farmers & Merchants Savings Bank (IA) took over its insured deposits. At failure it held $31.6M in assets and $28.8M in deposits. The FDIC's estimated loss on the failure is $5.8M (18.5% of assets).
- Closing date
- December 17, 2010
- FDIC certificate #
- 23306
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Farmers & Merchants Savings Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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