FDIC shutters ninth Minnesota bank

by Bill Catlin, Minnesota Public Radio

St. Paul, Minn. — The FDIC has closed another Minnesota bank, this time Marshall Bank of Hallock in northwestern Minnesota.

United Valley Bank of Cavalier, North Dakota has assumed responsibility for all deposits. Marshall Bank is the second FDIC-insured institution in Minnesota to fail this year, and the 12th in the nation.

The FDIC closed St. Stephen State Bank on January 15, 2010. Nine Minnesota banks have been shut down since 2008.

List of Minneota bank closings:

Marshall Bank -- January 29, 2010

St. Stephen State Bank -- January 15, 2010

Prosperan Bank -- November, 6, 2009

Riverview Community Bank -- October 23, 2009

Jennings State Bank -- October 9, 2009

Brickwell Community Bank -- September 11, 2009

Mainstreet Bank -- August 28, 2009

Horizon Bank -- June 26, 2009

First Integrity Bank, N.A. -- May 30, 2009