Edina’s InterBank Closed by Federal Regulators

Customers of Edina’s branch of InterBank will be doing business with another bank come Monday.

Maple Grove-based InterBank was closed by federal regulators with the Office of the Comptroller of the Currency on Friday, according to InterBank’s website and media reports.

Deposits at Interbank’s four branch locations—including the Edina branch at 3400 W 66th St—have been transferred to Great Southern Bank of Reeds Spring, MO. Other branches are in Maple Grove, Lakeville and Roseville.

The former InterBank branches will reopen as Great Southern Bank branches on Monday, says TwinCities.com.

InterBank customers can access their accounts online, InterBank’s website says.

Customers also can write checks and use their debit cards to access their money, according to the Federal Deposit Insurance Corporation.

InterBank’s failure didn’t come as a surprise, says TwinCities.com. The bank reportedly had been losing money for years, including $6 million last year.

InterBank customers can get additional information about how the bank closure impacts their deposits and other accounts by clicking here.

The Edina InterBank locatoin is the second oldest branch of the four in Minnesota, having opened in 1996. The Maple Grove branch was the first to open in 1965, followed by Lakeville in 2001 and Roseville in 2003 according to the FDIC.