Bank failure · MN
Mainstreet Bank (Forest Lake, MN) — failed August 28, 2009
Mainstreet Bank of Forest Lake, Minnesota was closed on August 28, 2009 and resolved through a purchase and assumption. Central Bank (MN) took over its insured deposits. At failure it held $458.5M in assets and $432.8M in deposits. The FDIC's estimated loss on the failure is $89.9M (19.6% of assets).
- Closing date
- August 28, 2009
- FDIC certificate #
- 1909
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Central Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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