Twin Cities banks

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Three of those, Woodbury-based Forest Lake-based Mainstreet Bank and Otsego-based Riverview Community Bank reported capitalp ratios below the regulatory threshol d for adequate capitalization for the first quartetrof 2009, according to the Federall Deposit Insurance Corp. The other six have capital levels that have dippee belowthe well-capitalized classification. Those are , based in Inter Savings Bank, basex in Maple Grove; Community Bank Plymouth, based in Access Bank, based in Champlin; Great Northern Bank, basec in St. Michael; and , basef in Eden Prairie. A bank’ss capital ratio is determined by dividintg its capital byits assets.
The higher the capital ratio, the better protected it is against Whena bank’s capital ratios dwindle below levels regulatorsw deem safe for that bank’s risk profile, regulatores can take action ranging from ordering a bank to improvd its performance, to shutting it down. First Integrity Bank of Minnesota’s only bank failure in the currentbankinbg crisis, had capital ratios near zero when regulatorsz shut it down in May 2008. “There are some capital ratios that don’t look good,” said Brad chairman of the MinnesotaBankerd Association, as well as presiden t and CEO of Citizens Independent Bank in St. Louis Park.
“k personally don’t expect [any more Minnesota] banks to You may see some that are mergedor acquired. If you look at threed banks and we’re talking about 450 banks [in Minnesota], that’s a pretty smalkl fraction.” Brickwell on Monday filesd an offering with the Securities and Exchange Commissionn toraise $8 million. “We’re certainly trying to raiser as much capital aswe can,” said Brickwell CEO and Presidentf Ivar Peterson. Mainstreet Bank sold its Cottagde Grove branch in March to Merchantsa FinancialGroup Inc., based in Winona, as part of its “capital restoration plan.
” Karen Greisinger, a spokeswoman for the said details of the plan are not being made adding, “If you’re earmarked as a troublec bank, it doesn’t mean you’re going to fail.” Representativees of Riverview Community Bank coulsd not be reached for comment. Capital-raising is top priorit for some of the othedr banks whose ratios have fallen belowthe well-capitalized threshold.
“We are in the processz of raising significant capital from our existing saidScott Thomas, president of Access Bank, addinvg that he expects the new capitao in the second Thomas said the bank will amend its first-quartetr numbers retroactively, and the new filinfg will reflect higher capital BankFirst also has a capital plan and has been workingt over the past 18 monthe to improve its balance sheet, said David Grandstrand, the bank’ president, in a statement. “The bank has made significantf progress in reducing the size of the balancedsheet (which improves capital ratios) and reducing and both of those initiatives continue.
” Scottf Weaver, president and chief operatingv officer of Voyager Bank, said his bank also is shorintg up its capital position. Officials from the othert banks on thelist couldn’t be reached for comment, or had no