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Bank Closure #16 for 2010: 1st American State Bank of Minnesota

Friday, February 5, 2010 - 5:49 PM
From the FDIC press release
To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community Development Bank, FSB, Ogema, Minnesota, to assume all of the deposits of 1st American State Bank of Minnesota.
I took a look at Community Development Bank's website, and I noticed some very competitive CD and money market rates. Unfortunately, it's located in a remote area of Minnesota.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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