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Material Loss Review Of Prosperan Bank, Oakdale, Minnesota

Sunday, June 6, 2010 - 12:52 PM
Prosperan Bank in MN was closed on November 6, 2009. The FDIC Office of Inspector General completed its Material Loss Review last week. Below is an excerpt:

Prosperan’s failure can be primarily attributed to the institution’s poor risk management practices associated with concentrations in commercial real estate (CRE) and acquisition, development, and construction (ADC) loans, and with its commercial and industrial loan portfolio.

Link to Material Loss Review (PDF)

Link to review of the Prosperan Bank's closure
Ken TuminKen Tumin5,473 posts since
Nov 29, 2009
Rep Points: 125,800