-Pinehurst Bank of St. Paul Minnesota
Today May 21, 2010, Pinehurst Bank of St. Paul Minnesota was closed by the Minnesota Department of Commerce, with the Federal Deposit Insurance Corporation appointed as receiver. All deposits of the bank were assumed by Coulee Bank of La Crosse, Wisconsin though a purchase and assumption agreement.
Pinehurst Bank was formed in 2003 and opened its doors on April 2, 2004. They had one location had one location in Highland Park, Saint Paul, MN and 18 employees according to information posted on the bank website.
The bank had approximately $61.2 million in total assets and $58.3 million in total deposits.