Data / Bank failures / 2009 / Horizon Bank
Horizon Bank, Pine City, MN: failed June 26, 2009
Horizon Bank in Pine City, Minnesota, failed on June 26, 2009. Stearns Bank, National Association of ST. Cloud, MN, took over its deposits. It held $84.8 million in assets and $69.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $24 million (28.3% of its assets). By assets it was the 126th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- June 26, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Stearns Bank, National Association, ST. Cloud, MN
- Total assets
- $84,763,000
- Total deposits
- $69,254,000
- Estimated cost to the FDIC
- $24,009,747 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 9744
Other bank failures in Minnesota, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Riverbank | Wyoming | October 7, 2011 | $419.7 million | $384.1 million | $71.2 million | Central Bank |
| Rosemount National Bank | Rosemount | April 15, 2011 | $21.5 million | $21 million | $5.4 million | Central Bank |
| Community National Bank | Lino Lakes | December 17, 2010 | $31.6 million | $28.8 million | $5.8 million | Farmers & Merchants Savings Bank |
| Community Security Bank | New Prague | July 23, 2010 | $100.6 million | $95.1 million | $18.5 million | Roundbank |
| Pinehurst Bank | ST. Paul | May 21, 2010 | $61.2 million | $58.3 million | $8.4 million | Coulee Bank |
| Access Bank | Champlin | May 7, 2010 | $32 million | $32 million | $7.9 million | Prinsbank |
| State Bank of Aurora | Aurora | March 19, 2010 | $28.2 million | $27.8 million | $7 million | Northern State Bank |
| 1ST American State Bank of Minnesota | Hancock | February 5, 2010 | $18.2 million | $16.3 million | $4.5 million | Community Development Bank, FSB |
Other failed banks Stearns Bank, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Convenant Bank & Trust | Rock Spring | GA | March 23, 2012 | $95.7 million | $90.6 million | $30.3 million | Stearns Bank, National Association |
| Copper Star Bank | Scottsdale | AZ | November 12, 2010 | $204 million | $190.2 million | $52.6 million | Stearns Bank, National Association |
| First State Bank | Sarasota | FL | August 7, 2009 | $447.7 million | $394.7 million | $119.5 million | Stearns Bank, National Association |
| Community National Bank of Sarasota County | Venice | FL | August 7, 2009 | $92.5 million | $92.4 million | $25.4 million | Stearns Bank, National Association |
All bank failures in 2009 · All bank failures in Minnesota · Every failed bank Stearns Bank, National Association took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.