First Integrity Bank

First Integrity Bank of Staples, MN failed late Friday, and its assets were sold to another bank. First Integrity was originally established in 1920, as Staples State Bank, and apparently survived the Great Depression of the 1930's.

Do not confuse this bank with Integrity Bancshares Inc., of Alpharetta, GA, which now trades on the Pink Sheets at $0.35, under the symbol ITYC.PK ITYC used to sell at $12.50 in May and voluntarily delisted from NASDAQ in May.

Anyway, here are the final stats for First Integrity Bank of Minnesota:

Assets in nonaccrual status - 9.34%.
Tier 1 risk-based capital ratio -(-0.38%). This was 5.23% three months earlier.
Total risk-based capital ratio - (-0.38%). This was 6.55% three months earlier.
All real estate loans - 33.99% (pct of total assets)

Press Release One and Two.

My previous posts on the failure of Hume Bank and ANB Financial.