Data / Bank failures / 2009 / Mainstreet Bank
Mainstreet Bank, Forest Lake, MN: failed August 28, 2009
Mainstreet Bank in Forest Lake, Minnesota, failed on August 28, 2009. Central Bank of Stillwater, MN, took over its deposits. It held $458.5 million in assets and $432.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $89.9 million (19.6% of its assets). By assets it was the 58th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- August 28, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Central Bank, Stillwater, MN
- Total assets
- $458,533,000
- Total deposits
- $432,818,000
- Estimated cost to the FDIC
- $89,930,087 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 1909
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 Central Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Riverbank | Wyoming | MN | October 7, 2011 | $419.7 million | $384.1 million | $71.2 million | Central Bank |
| Rosemount National Bank | Rosemount | MN | April 15, 2011 | $21.5 million | $21 million | $5.4 million | Central Bank |
| Commerce Bank of Southwest Florida | Fort Myers | FL | November 20, 2009 | $71 million | $72.8 million | $32.2 million | Central Bank |
| Riverview Community Bank | Ostego | MN | October 23, 2009 | $99.1 million | $75 million | $23.5 million | Central Bank |
| Jennings State Bank | Spring Grove | MN | October 2, 2009 | $52.3 million | $50.8 million | $18.9 million | Central Bank |
| National Industrial Bank of Connecticut | Meriden | CT | November 9, 1989 | $46.5 million | $48.3 million | $5.3 million | Central Bank |
| Delta Pacific Bank | Pittsburg | CA | October 30, 1987 | $17.7 million | $17 million | $1.3 million | Central Bank |
| American City Bank | Los Angles | CA | February 25, 1983 | $319.4 million | $293.9 million | $25.3 million | Central Bank |
All bank failures in 2009 · All bank failures in Minnesota · Every failed bank Central Bank took over · 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.