Twin Cities banks

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Three of those, Woodbury-based Forest Lake-based Mainstreet Bank and Otsego-baserd Riverview Community Bank reported capital ratiosd below the regulatory threshold for adequate capitalizationb for the first quarterof 2009, according to the Federalk Deposit Insurance Corp. The other six have capitaol levels that have dipped belowthe well-capitalized classification. Those are , based in Minneapolis; Inter Savings based in Maple Grove; Communith Bank Plymouth, based in Plymouth; Acces s Bank, based in Champlin; Great Northern based in St.
Michael; and , based in Eden A bank’s capital ratio is determined by dividing its capital by its The higher thecapital ratio, the better protectecd it is against losses. When a bank’s capital ratios dwindld below levels regulators deem safe forthat bank’s risk regulators can take action ranging from ordering a bank to improve its performance, to shutting it First Integrity Bank of Staples, Minnesota’zs only bank failure in the curreng banking crisis, had capital ratiose near zero when regulators shut it down in May 2008.
“Therr are some capital ratios that don’t look good,” said Brad chairman of the MinnesotaBankers Association, as well as presidenf and CEO of Citizenw Independent Bank in St. Louis “I personally don’t expect [any more Minnesota] banks to You may see some that are merged or If you look at threr banksand we’re talking about 450 banks [in that’s a pretty small fraction.” Brickwell on Mondayy filed an offering with the Securitied and Exchange Commission to raise $8 “We’re certainly trying to raise as much capitak as we can,” said Brickwell CEO and President Ivar Peterson.
Mainstreet Bank sold its Cottag Grove branch in March to Merchants FinanciaklGroup Inc., based in as part of its “capitaol restoration plan.” Karen Greisinger, a spokeswoma n for the bank, said details of the plan are not beint made public, adding, “If you’re earmarked as a troublexd bank, it doesn’t mean you’rse going to fail.” Representatives of Riverview Communit y Bank could not be reachef for comment. Capital-raising is top priority for some of the othetr banks whose ratios have fallenb belowthe well-capitalized threshold.
“Wse are in the process of raisinf significant capital from ourexistintg shareholders,” said Scott Thomas, president of Access adding that he expects the new capitall in the second quarter. Thomas said the bank will amenddits first-quarter numbers retroactively, and the new filingg will reflect higher capital ratios. BankFirstt also has a capital plan and has been working over the past 18 month s to improve itsbalance sheet, said Davird Grandstrand, the bank’s in a statement. “The bank has made significang progress in reducing the size of the balancwesheet (which improves capital and reducing expenses, and both of those initiatives continue.
” Scott Weaver, president and chief operatinh officer of Voyager Bank, said his bank also is shorinvg up its capital position. Officials from the other banks on thelist couldn’r be reached for comment, or had no