Failed Bank Information for Mainstreet Bank, Forest Lake, MN
On Friday, August 28, 2009, Mainstreet Bank 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 Mainstreet Bank, Forest Lake, MN has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on August 28, 2017 and has made all dividend distributions required by law.
Effective February 1, 2018, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Effective Date: February 1, 2018
Publication Date: August 28, 2017
Report on dividends paid
Official press release
Beware 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.
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, excluding certain brokered deposits, were transferred to Central Bank, Stillwater, MN ("assuming institution"). Former Mainstreet 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 Mainstreet 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.
Contacting Central Bank
On April 1, 2016, Central Bank merged with MidWestOne Bank.
You can contact MidWesOne Bank:
102 South Clinton Street
Iowa City, IA 52240
MidWestOne Bank (www.midwestone.com)
Purchase & Assumption Agreement - PDF (1Mb)
Agreement between FDIC and acquiring institution
Report on the bids to purchase the failed bank