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02/25/2021

Liberty Pulse

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Regulators close one bank; total for year is 73

1 min read

Regulators close one bank; total for year is 73

In a relatively quiet night, regulators closed the doors on just one bank Friday night – and a single-branch bank at that.

Tiny Pinehurst Bank in St. Paul, Minn., was shut down by the Minnesota Department of Commerce, marking the 73rd failure nationwide this year.

The Federal Deposit Insurance Corp. arranged for Coulee Bank of La Crosse, Wis., to absorb Pinehurst, which had $61.2 million in assets and $58.3 in deposits.

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