The Graveyard › Banks › 2010
1st American State Bank of Minnesota
Hancock, MN · failed February 5, 2010 · FDIC certificate 15448
1st American State Bank of Minnesota of Hancock, MN failed on February 5, 2010. It opened in 1936, 74 years before. At its last report before that it held $18.2 million in assets and $16.3 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 2007, it held $35.1 million. The FDIC estimates that the Deposit Insurance Fund lost $4.5 million on it.
1984-032009-12
Assets at the end$18.2 millionlast report before February 5, 2010
Deposits at the end$16.3 million
Estimated loss to the fund$4.5 millionDIF
Largest in the quarterly reports$35.1 millionSeptember 30, 2007
Equity to assets1.6%December 31, 2009
Loans not being repaid13.2%noncurrent, December 31, 2009
Return on assets-6.88%a year's rate, December 31, 2009
Staff6full time, December 31, 2009
Also ended in 2010
- Westernbank Puerto Rico · Mayaguez, PR · $10.8 billion in assets
- R-G Premier Bank of Puerto Rico · Hato Rey, PR · $5.7 billion in assets
- La Jolla Bank, FSB · La Jolla, CA · $3.6 billion in assets
- Riverside National Bank of Florida · Fort Pierce, FL · $3.4 billion in assets
- Frontier Bank · Everett, WA · $3.3 billion in assets
- Midwest Bank and Trust Company · Elmwood Park, IL · $3.2 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.