Temperatures will continue to fall over the next few days

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Federal regulators have shut down St. Paul-based Pinehurst Bank. The Federal Deposit Insurance Corp. took the bank over Friday, and Coulee Bank, based in La Crosse, Wisconsin, agreed to assume Pinehurst's assets and deposits. 

Pinehurst Bank had $61.2 million in assets and $58.3 million in deposits. 

Coulee Bank President Brad Sturm says the transition for customers will be seamless.

"From a customer's perspective nothing really changed," Sturm said.

Sturm said customers can withdraw money, write ?Pinehurst checks and use Pinehurst debit cards for transactions. 

The shut down brings the total number of U.S. bank failures this year to 73. That is more than double the pace of last year.

St. Paul-based Pinehurst Bank reopened today (Sat) under the ownership of Wisconsin bank after regulators shut it down late yesterday. 

Coulee Bank, based in La Crosse, Wisconsin, says depositors of Pinehurst will automatically become depositors of Coulee Bank. Checks and other withdrawals will continue to be processed. Loan customers should continue to make their payments as usual.

Coulee Bank President Brad Sturm says he is looking forward to meeting his Minnesota customers.

"We have gone to a great extent to make this transparent and seamless in the eyes of our customers, and that is very important to us because we pride ourselves on customer service," Sturm said.

The shut down brings the total number of U.S. bank failures this year to 73, more than double the pace of last year.

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Federal regulators have shut down St. Paul-based Pinehurst Bank. The Federal Deposit Insurance Corp. took the bank over Friday, and Coulee Bank, based in La Crosse, Wisconsin, agreed to assume Pinehurst's assets and deposits.

Federal regulators have shut down St. Paul-based Pinehurst Bank

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