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Bank Failures

Bid Summary for BankFirst, Sioux Falls, SD

BankFirst, Sioux Falls, SD 
Closing Date: July 17, 2009

Failed Bank Information for BankFirst, Sioux Falls, SD

Winning Bidder:

Alerus Financial, National Association, Grand Forks, ND

Winning Bid:

All deposits P&A - Deposit Premium 0.325%.

There were no other bids for the deposits. There were other bids for optional loan pools.

Notes:

  • The winning bidder's acquisition of all the deposits and the sales of the optional loan pools was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: November 23, 2020