Recent closings include two Midwestern banks
FDIC-insured institution failures rose to 84 in August. Two Midwestern banks were among the 20 that failed between July 31 and August 31. Regulators closed Mainstreet Bank, Forest Lake, Minn., on August 28. Central Bank, Stillwater, Minn., agreed to purchase the failed bank’s $434 million in deposits, as well as most of Mainstreet Bank’s $459 million in assets. The FDIC and Central Bank entered into a loss-share transaction on approximately $268 million of the failed bank’s assets. Illinois regulators closed Mutual . . .
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