Feds close Brickwell Community Bank in Woodbury

by Than Tibbetts, Minnesota Public Radio

St. Paul, Minn. — Federal regulators have shut down Brickwell Community Bank in Woodbury.

Bank regulators from the Federal Deposit Insurance Corporation closed the bank Friday. It's sole branch re-opened Saturday as an office of Mitchell, S.D.-based CorTrust Bank.

The FDIC said Brickwell had approximately $72 million in total assets at the end of July, and total deposits of $63 million. CorTrust will be assuming the bank's assets as well as the deposits.

Customers who have questions about the bank's closure can call the FDIC at 800-815-0268.

Brickwell becomes the third Minnesota bank to fail this year and the 91st to close nationwide. Mainstreet Bank in Forest Lake, Minn., was closed on Aug. 28.