On Friday, the Minnesota Department of Commerce closed Pinehurst Bank, headquartered in Saint Paul, Minnesota. As receiver, the FDIC entered into a purchase agreement with Coulee Bank, headquartered in LaCrosse, Wisconsin, to assume all of the deposits of Pinehurst Bank.
USA, Minnesota, Banking, Insolvency & Restructuring, Alston & Bird LLP, US Department of Commerce, Federal Deposit Insurance Corporation (USA)