Data / Bank failures / 2009 / Bankfirst
Bankfirst, Sioux Falls, SD: failed July 17, 2009
Bankfirst in Sioux Falls, South Dakota, failed on July 17, 2009. Alerus Financial, National Association of Grand Forks, ND, took over its deposits. It held $210.8 million in assets and $232.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $110.2 million (52.3% of its assets). By assets it was the 88th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- July 17, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Alerus Financial, National Association, Grand Forks, ND
- Total assets
- $210,844,000
- Total deposits
- $232,203,000
- Estimated cost to the FDIC
- $110,200,671 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 34103
Other bank failures in South Dakota, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Department Stores National Bank (assistance) | Sioux Falls | November 23, 2008 | $374.9 million | $300.9 million | ||
| Citibank (south Dakota), N.A. (assistance) | Sioux Falls | November 23, 2008 | $77.74 billion | $42.36 billion |
All bank failures in 2009 · All bank failures in South Dakota · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.