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The Office of the Comptroller of the Currency closed Frontier Bank FSB in Palm Desert, Calif.
November 10 -
Regulators on Friday closed The National Republic Bank of Chicago, the 16th institution to fail this year.
October 24
Regulators on Friday closed Northern Star Bank in Mankato, Minn., the 18th institution to fail this year.
The bank, which had roughly $18.8 million in assets, was seized by the Minnesota Department of Commerce. The Federal Deposit Insurance Corp. was appointed receiver.
The FDIC announced a deal to sell the failed bank's operations to BankVista in Sartell, Minn. The acquirer will assume all of the failed bank's $18.2 million in deposits and take over essentially all of its assets.
The failure is estimated to cost the Deposit Insurance Fund $5.9 million. Northern Star was the first FDIC-insured institution to fail in the state since 1st Regents Bank was closed on Jan. 18, 2013.