Bank Failure #2 in 2013: 1st Regents Bank, Andover, Minnesota

All the king’s horses
Nor all of First Regent’s men
Can save it again
by Soylent Green is People
From the FDIC: First Minnesota Bank, Minnetonka, Minnesota, Assumes All of the Deposits of 1st Regents Bank, Andover, Minnesota

As of September 30, 2012, 1st Regents Bank had approximately $50.2 million in total assets and $49.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.5 million. ... 1st Regents Bank is the second FDIC-insured institution to fail in the nation this year, and the first in Minnesota.

A Friday tradition continues ...