Bank failure · MN
Horizon Bank (Pine City, MN) — failed June 26, 2009
Horizon Bank of Pine City, Minnesota was closed on June 26, 2009 and resolved through a purchase and assumption. Stearns Bank, National Association (MN) took over its insured deposits. At failure it held $84.8M in assets and $69.3M in deposits. The FDIC's estimated loss on the failure is $24.0M (28.3% of assets).
- Closing date
- June 26, 2009
- FDIC certificate #
- 9744
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Stearns Bank, National Association
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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