Feds trying to sell troubled South Dakota bank with Minneapolis Office
July 23, 2009
By MoneyAisle
The Pioneer Press reports that federal regulators are trying to sell off BankFirst, a financial institution based in Sioux Falls, SD with an office in Minneapolis.
“According to the FDIC document obtained by the Pioneer Press regarding the sale of BankFirst, it appears regulators would be willing to sell a buyer only the deposits and local loans, thus separating out-of-state deals on the bank’s books.”
In the middle of June, regulators warned BankFirst that it had one month to come up with either a buyer or additional capital. Bids for the bank must be submitted by July 10.