National News

Minnesota bank failsFirst Integrity Bank, N.A., a $54.7 million national bank in Staples, Minn., was closed by the Office of the Comptroller of the Currency on May 30. It was the fourth bank failure of the year and the first in Minnesota since 2000. First International Bank and Trust of Watford City, N.D., is purchasing about $35 million of the bank’s loans and took over its deposit accounts. The FDIC estimates the failure will cost the Deposit Insurance Fund about $2.3 million. First Integrity reported a loss of $3.6 . . .

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