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Federal and Minnesota bank regulators closed six branch offices of The RiverBank late Friday. All assets have been purchased by Central Bank, Stillwater, Minn.

Regulators shutter The RiverBank; Central Bank assumes assets

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The RiverBank, with locations in North Hudson, Somerset, Osceola, St. Croix Falls and two Minnesota communities, was closed late Friday by the Minnesota Department of Commerce.

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The Federal Deposit Insurance Corp. was named receiver and all deposits have been transferred to Central Bank, Stillwater, Minn., according to an FDIC press release.

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