WASHINGTON (WKOW) -- Federal bank inspectors shut down a small bank in Minnesota.
That means the total number of banks seized this year rose to 73
The Federal Deposit Insurance Corp. on Friday took over Pinehurst Bank, based in St. Paul, Minn., with $61.2 million in assets and $58.3 million in deposits. Coulee Bank, based in La Crosse, Wis., agreed to assume the assets and deposits of the failed bank.
The failure of Pinehurst Bank is expected to cost the deposit insurance fund about $6 million.