I spoke with Community Resource Bank CEO Don Kuehnast on Thursday who confirmed that they’re intending to move their downtown branch to the Phoenix Building at 7th and Division. A…
Tag: <span>Don Kuehnast</span>
Federal regulators have ordered Community Resource Bank of Northfield, Minn., to strengthen its loan portfolio and ensure that it has adequate capital. The 132-year-old bank, which has $240 million in assets, must improve its loan review process and reduce its delinquent loans that have balances exceeding $500,000. The bank also was told to come up with a plan to "maintain sufficient capital."
Update: 01/27, 6:50 am: 15-page PDF: Written Agreement by and among NORTHFIELD BANCSHARES, INC. Northfield, Minnesota COMMUNITY RESOURCE BANK Northfield, Minnesota and FEDERAL RESERVE BANK OF MINNEAPOLIS Minneapolis, Minnesota