WASHINGTON (Reuters) - 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)
© 2009 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies. For additional information on other Reuters media services please visit http://about.reuters.com/media/.
