COMMUNITY NATIONAL BANK Failed 2010

LINO LAKES, MN · National commercial bank (OCC-chartered) · view on FDIC BankFind ↗

What happened

COMMUNITY NATIONAL BANK of LINO LAKES, MN was closed on 2010-12-17. The FDIC was named receiver.

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

Deposits were transferred to FARMERS & MERCHANTS SAVINGS BANK (MANCHESTER, IA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3886
FDIC Certificate
23306
FDIC FIN
10321
Bank name
COMMUNITY NATIONAL BANK
Location
LINO LAKES, MN
Failure date
2010-12-17
FDIC resolution date
2010-12-17
Charter type
National commercial bank (OCC-chartered)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$6M
Deposits at failure
$29M
Assets at failure
$32M
Acquiring bank
FARMERS & MERCHANTS SAVINGS BANK (MANCHESTER, IA)