= Subscriber content; or subscribe now to access all American Banker content.

Minnesota Bankruptcy Delivers a Trust-Preferred Reality Check

A group of investment firms has forced American Bancorp. into liquidation over unpaid trust-preferred debt. Creditors have threatened to go this route before but this is the first time any have followed through, serving as an ominous precedent for the up to 300 banks in danger of defaulting on the hybrid securities.

To continue, please sign in or subscribe
FREE 14-DAY
TRIAL
  • Full access to banking's most comprehensive daily report
  • Daily, weekly, and topic-based newsletters and alerts
  • Award-winning analysis and insight, focused on bankers' key concerns
No credit card needed
PREMIUM
SUBSCRIPTIONS
Core subscription content plus:
  • Bimonthly industry research reports
  • Morning Scan Plus (Premium e-newsletter)
  • American Banker mobile app
Have an account?
SIGN IN HERE
Remember me