Forex and Stock Market information, MMO, SEO and IT guide

U.S. regulators close Gateway Bank, Prosperan Bank

Nov 7, 2009 Make Money Online

Bank regulators closed Gateway Bank of St. Louis, in St. Louis, Missouri, and Prosperan Bank, of Oakdale, Minnesota, on Friday, the 118th and 119th U.S. bank to fail this year.

The Federal Deposit Insurance Corp said Gateway Bank of St Louis had $27.7 million in assets and $27.9 million in deposits. The bank’s sole office will reopen on Saturday as a branch of Central Bank of Kansas City, Missouri, which assumed Gateway’s assets.

The FDIC entered into an agreement with Alerus Financial NA, of Grand Forks, North Dakota, to assume all of Prosperan’s $175.6 million in deposits and about $173.9 million of its $199.5 million in assets.

(Reporting by Charles Abbott; editing by Carol Bishopric)

Related Posts

• Three more U.S. banks closed, nearly 100 for year
• Big California bank fails, has China branches
• Five banks closed by U.S. regulators
• Forex Snapshots: China raises reserve ratio, economies risk slowing down – May 03, 2010 7:03 AM CEST
• FDIC concerned with swaps rules in Democrats’ bill – May 01, 2010
• Gold demand falls 34 percent in Q3: World Gold Council
• U.S. closes Home Federal Savings in Detroit
• Easy money fuels all markets, but not forever
• U.S. banks need to have higher capital: Greenspan
• FDIC problem bank list hits 416, but recovery eyed
• BIS remains concerned about economic prospects

Tags: central bank, FDIC, Gateway Bank, Prosperan Bank, the Federal Deposit Insurance Corp