Minnesota Bank Closed By The Feds

Regulators on Friday night shut down banks in California, Maryland and a bank in Minnesota. The FDIC took over the Mainstreet Bank, based in Forest Lake, Minnesota with assets of $459-Million dollars and deposits of $434-Million. The bank reopened on Saturday under the auspices of Central Bank of Stillwater, which is assuming the deposits and assets of Mainstreet Bank, whose eight branches are included in the deal.