Mainstreet Bank
Forest Lake, MN · Owner: Bancmidwest Corp
$459M
total assets, June 30, 2009
$459M
total assets, June 30, 2009
Mainstreet Bank was a state nonmember bank in Forest Lake, MN, owned by Bancmidwest Corp. It failed on Aug 28, 2009, and Central Bank took over its deposits. At its last report it held $458.5 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 2009
This bank failed
- Failed on
- Aug 28, 2009
- Assets
- $459M
- Deposits
- $433M
- Estimated cost
- $89.9M
- Deposits went to
- Central Bank, Stillwater, MN
Total assets
$459M
+5.4% in a year · -9.3% in a quarter
Deposits
$433M
+26.2% in a year · -6.3% in a quarter
Loans
$231M
-29.3% in a year · -16.8% in a quarter
Profit so far
-$23.9M
Jan 1 to Jun 30, 2009
Capital ratio
-0.99%
-7.95 pts in a year
Return on assets
-9.93%
-7.33 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 1650 South Lake Street, Forest Lake, MN, 55025
- County
- Washington
- Holding company
- Bancmidwest Corp
- Established
- Mar 15, 1903
- Failed
- Aug 28, 2009
- Employees
- 96
- Branches
- 8 in 2 states
- Id
- b1909
Quarter by quarter
March 31, 1984 to June 30, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Mainstreet Bank?
$458.5 million in total assets and $432.8 million in deposits as of June 30, 2009, with assets up 5.4% from a year before. Its loans were $230.5 million.
How many branches does Mainstreet Bank have?
8 branches in 2 states as of June 30, 2026.
Is Mainstreet Bank profitable?
No: it lost $23.9 million from January 1 to June 30, 2009. Its return on assets was -9.93% a year; about 1% is typical.
Who owns Mainstreet Bank?
Mainstreet Bank is owned by Bancmidwest Corp, its holding company.
When did Mainstreet Bank fail?
Aug 28, 2009. Central Bank of Stillwater, MN took over its deposits. The estimated cost of the failure was $89.9 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.