User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


70° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Find local businesses
on the KELO Pages!

 

Banking Division Takes Over BANKFIRST

July 17, 2009, 5:48 PM

 
The South Dakota Revenue Department said the state has taken possession of BANKFIRST, Sioux Falls and
placed it under control and management of the FDIC.

State Banking Director Roger Novotny said the FDIC has made agreements with several other banks to assume certain assets and deposits and to service loans. 

Novotny said BANKFIRST focused on large, complex loans in high growth metropolitan or urban areas nationwide. When loan losses mounted, the bank's capital fell to an unsafe level.

Novotny said the closing is not a reflection of weakness in the state's banking system or economy and is the first time in more than 20 years that the Division of Banking has had to close a bank.

Previous Story

Next Story




Sponsored

 


You may also like

Two State Penitentiary Inmates On Escape Status

6/26/2015 7:22 PM

Two minimum-security inmates have been placed on escape status Friday.

Full Story
9-Year-Old Girl Drowns in Lake Oahe

6/28/2015 8:06 PM

A nine-year-old drowned in Lake Oahe Sunday afternoon near Selby.

Full Story
Man Dies After Attempting To Swim Across Dam

6/26/2015 11:05 AM

At around 10 p.m. Thursday, Flandreau Police said Kenneth Bursheim jumped in and tried to swim across the lower dam.

Full Story
Mitchell Teen Dies In Rollover Crash

6/25/2015 7:10 PM

A 14-year-old boy has died after a single-vehicle crash outside of Mitchell Thursday.

Full Story
Man Arrested In Suspicious Death Of Rapid City Infant

6/26/2015 6:46 PM

A man has been arrested regarding the suspicious death of an infant in Rapid City.

Full Story


Events