PROSPERAN BANK Failed 2009

OAKDALE, MN · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

PROSPERAN BANK of OAKDALE, MN was closed on 2009-11-06. The FDIC was named receiver.

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

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

Key facts

FDIC ID
3713
FDIC Certificate
35074
FDIC FIN
10143
Bank name
PROSPERAN BANK
Location
OAKDALE, MN
Failure date
2009-11-06
FDIC resolution date
2009-11-06
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$32M
Deposits at failure
$183M
Assets at failure
$197M
Acquiring bank
ALERUS FINANCIAL, N.A. (GRAND FORKS, ND)