Minnesota bank is 83rd U.S. failure of 2009 Forest Lake, Minn.-based Mainstreet Bank was closed by regulators Friday, marking the second bank failure of the day and the 83rd of 2009. The Federal Deposit Insurance Corp. said Mainstreet Bank had $434 million in deposits as of June 30. Stillwater, Minn.-based Central Bank has agreed to assume the failed bank's deposits, the FDIC said. Mainstreet Bank is the second bank to fail in Minnesota this year.
Maryland bank is 82nd U.S. failure of 2009 --Bradford Bank's failure will cost the deposit-insurance fund $97 million. Baltimore-based Bradford Bank was closed by regulators Friday, marking the 82nd U.S. bank failure of 2009 as the credit crisis continues to claim victims. Bradford Bank, the second failure in Maryland this year, had $383 million in deposits as of June 30, according to the Federal Deposit Insurance Corp. Buffalo, N.Y.-based Manufacturers and Traders Trust Company has agreed to assume the failed bank's deposits, the FDIC said.
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