Four Banks Fail – FDIC Losses Approach $1 Billion On YTD Bank Closings

Regulators closed four banks in Tennessee, Minnesota and Florida, bringing the total for the year to seven. Tennessee, with two bank closings, had previously not had a single bank failure since 2002.  The combined assets of the two failed banks in Tennessee totaled $1.5 billion.  Tennessee Commerce Bank of Franklin, TN, became the first billion […]

Patriot Bank Minnesota Closed By Regulators

Minnesota, which had only two banking failures during 2011, got off to a fast start for 2012 with the closing of a small locally owned community bank. Patriot Bank Minnesota, Forest Lake, Minnesota, was closed by state regulators who appointed the FDIC as receiver.  The failed bank was sold by the FDIC to First Resource […]