Bank failure · MN
St. Stephen State Bank (St. Stephen, MN) — failed January 15, 2010
St. Stephen State Bank of St. Stephen, Minnesota was closed on January 15, 2010 and resolved through a purchase and assumption. First State Bank of St. Joseph (MN) took over its insured deposits. At failure it held $22.9M in assets and $23.9M in deposits. The FDIC's estimated loss on the failure is $7.7M (33.7% of assets).
- Closing date
- January 15, 2010
- FDIC certificate #
- 17522
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First State Bank of St. Joseph
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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