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Live Updating

Brick

10/24/09 10:15 AM

Post #2

MNSB Bank failure

Regulators close Riverview bank in Twin Cities [Pioneer Press, St. Paul, Minn.]
Saturday, October 24 2009 - 4:49

MNSB $6.00 $0 (%0)

Oct. 24--Federal and state regulators closed another Minnesota bank -- this one in the west Twin Cities metro.

The two branches of Riverview Community Bank of Otsego, which had about $108 million in assets at the end of August, will reopen Saturday as branches of Stillwater-based Central Bank. Riverview is Central Bank's third failed bank buy.

Riverview brings the number of U.S. banks to fail this year to 105. It is the fifth bank in Minnesota to fail this year.

Horizon Bank in Pine City, Forest Lake-based Mainstreet Bank, Brickwell Bank in Woodbury and Jennings State Bank of Spring Grove have also been closed by regulators this year.