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: Des Moines Personal Injury Lawyer

Iowa's Vantus Bank Goes Under

By Steve Lombardi

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Another victim of the economic downturn and housing crisis seems to have hit a little closer to home today. Federal regulators have told Vantus Bank, based in Sioux City, that its plan to increase capital was unacceptable. According to a filing with the U.S. Securities and Exchange Commission it must be sold or liquidated by September 30th. The bank that was founded in 1923 had 13 locations in Iowa and was the 22nd largest bank in terms of total assets at the end of the first quarter. It's suffering from bad loans including those to Regency Homes which collapsed last year.

Originally posted at InjuryBoard by Steve Lombardi

Full post as published by Des Moines Personal Injury Lawyer on August 25, 2009 (boomark / email).

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