Data / Bank failures / Minnesota
Bank failures in Minnesota: 70 banks since 1934
70 banks in Minnesota failed between 1934 and 2014, holding $7.36 billion in assets and $6.13 billion in deposits. The FDIC estimates the cost to its insurance fund at $1.57 billion. The FDIC also assisted 11 open banks without closing them. The largest: Midwest Federal Savings ($3.26 billion), Inter Savings Bank, FSB D/b/a/ Interbank, FSB ($463.8 million), Mainstreet Bank ($458.5 million). By decade: 1930s 4, 1940s 1, 1980s 46, 1990s 6, 2000s 8, 2010s 16.
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| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Northern Star Bank | Mankato | December 19, 2014 | $18.8 million | $18.2 million | $3.9 million | Bankvista |
| 1ST Regents Bank | Andover | January 18, 2013 | $49.6 million | $49.1 million | $12.2 million | First Minnesota Bank |
| First Commercial Bank | Bloomington | September 7, 2012 | $215.9 million | $206.8 million | $65.2 million | Republic Bank & Trust Company |
| Inter Savings Bank, FSB D/b/a/ Interbank, FSB | Maple Grove | April 27, 2012 | $463.8 million | $458.1 million | $79.7 million | Great Southern Bank |
| Home Savings of America | Little Falls | February 24, 2012 | $434.1 million | $432.2 million | $43 million | |
| Patriot Bank Minnesota | Forest Lake | January 27, 2012 | $105 million | $102.8 million | $35.3 million | First Resource Bank |
| 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 |
| Marshall Bank, National Association | Hallock | January 29, 2010 | $58.6 million | $55.7 million | $1.1 million | United Valley Bank |
| ST. Stephen State Bank | ST. Stephen | January 15, 2010 | $22.9 million | $23.9 million | $7.7 million | First State Bank of ST. Joseph |
| Prosperan Bank | Oakdale | November 6, 2009 | $197.4 million | $182.8 million | $31.7 million | Alerus Financial, N.A. |
| Riverview Community Bank | Ostego | October 23, 2009 | $99.1 million | $75 million | $23.5 million | Central Bank |
| Jennings State Bank | Spring Grove | October 2, 2009 | $52.3 million | $50.8 million | $18.9 million | Central Bank |
| Brickwell Community Bank | Woodbury | September 11, 2009 | $72.6 million | $65 million | $24.6 million | Cortrust Bank, N.A. |
| Mainstreet Bank | Forest Lake | August 28, 2009 | $458.5 million | $432.8 million | $89.9 million | Central Bank |
| Horizon Bank | Pine City | June 26, 2009 | $84.8 million | $69.3 million | $24 million | Stearns Bank, National Association |
| First Integrity Bank, N.A. | Staples | May 30, 2008 | $52.9 million | $50.2 million | $10.3 million | First International Bank and Trust |
| Town & Country Bank of Almelund | Almelund | July 14, 2000 | $25.9 million | $26.7 million | $1.4 million | S&C Bank, Minnesota |
| State Bank of Springfield | Springfield | July 17, 1992 | $30.3 million | $28.5 million | $127,067 | Southwest State Bank |
| First FS & La of Thief River Falls | Thief River Falls | August 9, 1991 | $54.6 million | $55.5 million | $2.6 million | No. State BK of Thief Riv. |
| Boundary Waters State Bank | Ely | November 30, 1990 | $13.4 million | $13.4 million | $1.5 million | Stearns County National Ban |
| United Savings Bank, FSB | Windom | May 11, 1990 | $161.5 million | $133.2 million | $43.8 million | |
| Lakeland Savings Bank FSB | Detroit Lakes | March 16, 1990 | $79.6 million | $80.6 million | $24.8 million | First Security State Bank |
| Fairmont Federal Savings Assoc. | Fairmont | February 9, 1990 | $46 million | $46.4 million | $1.3 million | First Farmers & Merchant NB |
| The Lee State Bank | Browerville | November 9, 1989 | $13.4 million | $13.5 million | $2.7 million | First National Bank of Long |
| Midwest Federal Savings | Minneapolis | February 13, 1989 | $3.26 billion | $2.24 billion | $754.8 million | |
| Watson State Bank | Watson | September 30, 1988 | $13.7 million | $12.9 million | $5.1 million | Minnwest Bank Montevideo |
| Peoples S&LA (assistance) | Owantonna | August 26, 1988 | $210.8 million | $203.7 million | $35.5 million | Metropolitan Fed BK FSB |
| First FS&LA of Grand Rapids (assistance) | Grand Rapids | August 26, 1988 | $105.9 million | $96.9 million | $44.6 million | First FS&LA of Brainerd |
| First FS&LA of Hibbing (assistance) | Hibbing | August 26, 1988 | $47.3 million | $67.2 million | $32.2 million | First FS&LA of Brainerd |
| First FS&LA of Brainerd (assistance) | Brainerd | August 26, 1988 | $86.6 million | $104.2 million | $54.4 million | First FS&LA of Brainerd |
| Washington FSB of Stillwater (assistance) | Stillwater | August 26, 1988 | $295.8 million | $319.4 million | $165.3 million | Pioneer FS&LA |
| Biwabik State Bank | Biwabik | August 26, 1988 | $3.2 million | $3.2 million | $450,634 | First National Bank |
| The First National Bank of Blooming Prairi | Blooming Prairie | July 21, 1988 | $20 million | $20 million | $2.1 million | First Amn BK Blooming PR |
| Oak Park Bank | Oak Park Heights | April 29, 1988 | $21.1 million | $19.7 million | $5.9 million | ST Croix Valley Bank |
| Citizens State Bank of Eagle Bend | Eagle Bend | April 8, 1988 | $10 million | $9.9 million | $1.7 million | Lake Country State Bank |
| Citizens State BK of Gibbon | Gibbon | March 18, 1988 | $15.1 million | $14.8 million | $4.1 million | Minnesota Valley Bank |
| State Bank of Morgan | Morgan | March 18, 1988 | $20.3 million | $20 million | $2.2 million | FARMERS&MERCHANTS STB SP |
| Citizens State Bank (assistance) | Hayfield | January 27, 1988 | $28 million | $28.7 million | $783,034 | Citizens State Bank |
| State Bank of Greenwald | Greenwald | October 2, 1987 | $23.3 million | $19.9 million | $4.3 million | Rural American BK Greenw |
| Clay County State Bank | Dilworth | October 1, 1987 | $10.1 million | $9.9 million | $1.1 million | Northwestern STB of Ulen |
| First State Bank of Rollingstone | Rollingstone | September 11, 1987 | $15.2 million | $14.4 million | $3 million | Eastwood Bank ST Charles |
| People's State Bank of Mazeppa | Mazeppa | August 21, 1987 | $21.6 million | $20.2 million | $4.9 million | First State Bank of Red |
| Lanesboro State Bank | Lanesboro | June 26, 1987 | $11.4 million | $11 million | $2.3 million | Goodhue Cnty NB of Red W |
| First National Bank of Wilmont | Wilmont | May 29, 1987 | $13.3 million | $11.8 million | $2 million | Farmers STB of Mountain |
| Todd County State Bank | Long Prairie | May 14, 1987 | $15.4 million | $15.2 million | $2.4 million | First NB of Long Prairie |
| The First National Bank of Elbow Lake | Elbow Lake | May 14, 1987 | $14.2 million | $15.7 million | $7.7 million | First NB of Fergus Falls |
| Beaver Creek State Bank | Beaver Creek | March 13, 1987 | $7.3 million | $7.1 million | $963,741 | Citizens STB of Silver L |
| First National Bank in West Concord | West Concord | March 5, 1987 | $9.1 million | $8.7 million | $1.4 million | Farmers STB of West Conc |
| Lakeland State Bank | Pequot Lakes | December 19, 1986 | $49.4 million | $49.1 million | $7 million | Northern NB of Bemidji |
| First National Bank of Stewartville | Stewartville | December 4, 1986 | $18.5 million | $18.3 million | $979,775 | Marquette Bank Rochester |
| Chokio State Bank | Chokio | November 7, 1986 | $11.9 million | $11 million | $4.9 million | First State Bank Chokio |
| Farmers State Bank of Clarissa | Clarissa | July 11, 1986 | $17.9 million | $16.8 million | $7.3 million | First STB of Rush City |
| Farmers & Merchants ST BK of Lamberton | Lamberton | March 14, 1986 | $17.1 million | $16.2 million | $3.6 million | American Bank Mankato |
| State Bank of Frost | Frost | December 20, 1985 | $7.7 million | $6.6 million | $2 million | Frost State Bank |
| Midland FS&LA (assistance) | Moorhead | December 2, 1985 | $38 million | $40.9 million | $48.9 million | Midland FS&LA |
| Farmers State Bank of Kanaranzi | Kanaranzi | October 18, 1985 | $3.9 million | $3.8 million | $997,195 | Citizens STB of Silver L |
| Farmers State Bank of Round Lake | Round Lake | August 2, 1985 | $23.2 million | $20.9 million | $7.5 million | Farmers STB of Mountain |
| Swift County Bank | Benson | June 14, 1985 | $41.6 million | $38 million | $8.4 million | First Security STB Sleep |
| First Trust Bank of Lakefield | Lakefield | May 31, 1985 | $24.3 million | $22.1 million | $9.4 million | Fulda State Bank |
| Citizens State Bank of Fulda | Fulda | February 15, 1985 | $39.4 million | $36.4 million | $12.8 million | Fulda State Bank |
| State Bank of Boyd | Boyd | October 24, 1984 | $7.1 million | $6.2 million | $2.8 million | State Bank of Madison |
| The Guaranty BK of Saint Paul | ST. Paul | July 19, 1984 | $28.6 million | $27.5 million | $5.9 million | Shelard National Bank |
| Windom FS&LA (assistance) | Windom | July 18, 1984 | $47.9 million | $45.3 million | $5.7 million | United Federal Savings Bank |
| First Nat BK of Prior Lake | Prior Lake | May 24, 1984 | $12.2 million | $11.5 million | $4.9 million | First NB of Shakopee |
| The First Nat BK of Rushford | Rushford | May 4, 1984 | $22 million | $21.4 million | $7.3 million | Goodhue Cnty NB of Red W |
| Northern FS&LA (assistance) | ST. Paul | June 24, 1983 | $267.3 million | $135.4 million | $1.8 million | Twin City FS&LA |
| State Bank of Barnum | Barnum | February 9, 1983 | $13.9 million | $13.1 million | $1.7 million | |
| Farmers & Mechanics Savings Bank of Minnea (assistance) | Minneapolis | February 20, 1982 | $1.01 billion | $842 million | $52.4 million | Farmers & Mechanics Savings |
| Home Sa (assistance) | Minneapolis | January 18, 1981 | $686.4 million | $492.6 million | $73.6 million | First FS&LA of Minneapolis |
| Palisade State Bank | Palisade | January 21, 1942 | $91,000 | $88,000 | ||
| The First National Bank of Preston | Preston | January 5, 1939 | $304,000 | $285,000 | ||
| First State Bank | Hewitt | September 2, 1938 | $135,000 | $112,000 | ||
| Farmers State Bank of Carlisle | Carlisle | October 7, 1937 | $99,000 | $82,000 | ||
| Farmers State Bank of Bongards | Bongards | September 13, 1934 | $91,000 | $73,000 |
Other states
- Alabama 39
- Alaska 13
- Arizona 44
- Arkansas 45
- California 265
- Colorado 103
- Connecticut 48
- Delaware 4
- District of Columbia 8
- Florida 199
- Georgia 135
- Guam 1
- Hawaii 6
- Idaho 8
- Illinois 229
- Indiana 52
- Iowa 83
- Kansas 124
- Kentucky 47
- Louisiana 167
- Maine 6
- Maryland 36
- Massachusetts 59
- Michigan 46
- Mississippi 38
- Missouri 136
- Montana 19
- Nebraska 54
- Nevada 17
- New Hampshire 20
- New Jersey 112
- New Mexico 32
- New York 104
- North Carolina 30
- North Dakota 43
- Ohio 61
- Oklahoma 183
- Oregon 38
- Pennsylvania 73
- Puerto Rico 17
- Rhode Island 7
- South Carolina 23
- South Dakota 44
- Tennessee 80
- Texas 911
- U.S. Virgin Islands 1
- Utah 30
- Vermont 5
- Virginia 54
- Washington 38
- West Virginia 19
- Wisconsin 51
- Wyoming 29
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.