The U.S. regulators shut down the two banks: Patriot Bank Minnesota headquartered in Minnesota, BankEast of Knoxville located in Tennessee, which means that the number of the United States bankrupt bankers in 2012 rose to seven.
U.S. Federal Deposit Insurance Corporation said that Resource Bank of Savage which is headquartered in Minnesota will take over all the deposits of First Patriot Bank Minnesota. Data shows, the Patriot Bank Minnesota’s total assets are $111.3 million and the total deposits are $108.3 million. The U.S. bank National Association of Cincinnati will take over all the deposits of BankEast. The BankEast’s total assets are $ 272.6 million and the total deposits are $268.8 million.
It is said that the closure of the two banks will result in the U.S. Federal Deposit Insurance Corporation’s deposit insurance costs increase $108.2 million.