Data / Bank failures / 2009 / Prosperan Bank
Prosperan Bank, Oakdale, MN: failed November 6, 2009
Prosperan Bank in Oakdale, Minnesota, failed on November 6, 2009. Alerus Financial, N.A. of Grand Forks, ND, took over its deposits. It held $197.4 million in assets and $182.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $31.7 million (16% of its assets). By assets it was the 93rd largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- November 6, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Alerus Financial, N.A., Grand Forks, ND
- Total assets
- $197,442,000
- Total deposits
- $182,794,000
- Estimated cost to the FDIC
- $31,684,973 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 35074
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 |
All bank failures in 2009 · All bank failures in Minnesota · 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.