Bank failure · MN

Town & Country Bank of Almelund (Almelund, MN) — failed July 14, 2000

Town & Country Bank of Almelund of Almelund, Minnesota was closed on July 14, 2000 and resolved through a purchase and assumption (insured deposits). S&c Bank, Minnesota (MN) took over its insured deposits. At failure it held $25.9M in assets and $26.7M in deposits. The FDIC's estimated loss on the failure is $1.4M (5.3% of assets).