Management News Community Development Bank, FSB, Ogema, Minnesota, Assumes All of the Deposits of 1st American State Bank of Minnesota, Hancock, Minnesota
Community Development Bank, FSB, Ogema, Minnesota, Assumes All of the Deposits of 1st American State Bank of Minnesota, Hancock, Minnesota

Press Release

Community Development Bank, FSB, Ogema, Minnesota, Assumes All of the Deposits of 1st American State Bank of Minnesota, Hancock, Minnesota

FOR IMMEDIATE RELEASE
February 5, 2010
Media Contact:
LaJuan Williams-Young
Phone: (202) 898-3876
Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it '; document.write( '' ); document.write( addy_text70675 ); document.write( '<\/a>' ); //-->\n This e-mail address is being protected from spambots. You need JavaScript enabled to view it

1st American State Bank of Minnesota, Hancock, Minnesota was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Community Development Bank, FSB, Ogema, Minnesota, to assume all of the deposits of 1st American State Bank of Minnesota.

The two branches of 1st American State Bank of Minnesota will reopen on Monday as branches of Community Development
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