BANKFIRST Failed 2009

SIOUX FALLS, SD · State commercial bank, Federal Reserve member · view on FDIC BankFind ↗

What happened

BANKFIRST of SIOUX FALLS, SD was closed on 2009-07-17. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to ALERUS FINANCIAL, NATIONAL ASSOCIATION (GRAND FORKS, ND). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID: 3648
FDIC Certificate: 34103
FDIC FIN: 10081
Bank name: BANKFIRST
Location: SIOUX FALLS, SD
Failure date: 2009-07-17
FDIC resolution date: 2009-07-17
Charter type: State commercial bank, Federal Reserve member
Resolution type: Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.): $110M
Deposits at failure: $232M
Assets at failure: $211M
Acquiring bank: ALERUS FINANCIAL, NATIONAL ASSOCIATION (GRAND FORKS, ND)