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Published February 01, 2010, 07:55 AM

Fed closes Hallock bank

(WDAY TV) - So far this year, 14 banks have failed in the United States, including one in Minnesota.

By: WDAY Staff Reports, WDAY

(WDAY TV) - So far this year, 14 banks have failed in the United States, including one in Minnesota.

Regulators shut down Marshall Bank in Hallock on Friday. According to the bank's website, all deposit accounts have been transferred to United Valley Bank out of Cavalier, North Dakota.

And, three branches of Marshall Bank will re-open this morning as branches of United Valley. The F-D-I-C says the cost will be about $4.1 million dollars in costs for the Deposit Insurance Fund.

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