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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Failed Bank Information for Jennings State Bank, Spring Grove, MN

On Friday, October 2, 2009, Jennings State Bank, Spring Grove, MN was closed by the Minnesota Department of Commerce. The FDIC was named Receiver. Central Bank, Stillwater, MN acquired all deposit accounts.

The FDIC as Receiver for Jennings State Bank, Spring Grove, MN has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on July 26, 2017 and has made all dividend distributions required by law.

Effective November 1, 2017, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: November 1, 2017


Notice of Intent to Terminate

Publication Date: July 26, 2017

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: CENTRAL BANK

About Central Bank

All deposit accounts have been transferred to Central Bank, Stillwater, MN ("assuming institution"). Former Jennings State Bank locations reopened as branches of Central Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Central Bank for at least six months after the failure of Jennings State Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Central Bank as long as the deposits are not pledged as collateral for loans.

On April 1, 2016 Central Bank merged with MidWestOne Bank

You can contact MidWestOne Bank:

MidWestOne Bank
102 South Clinton Street
Iowa City, IA 52240

MidWestOne Bank (www.midwestone.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF (717kb)
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

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