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InterBank Fails; Lakeville Branch Will Reopen as Great Southern Bank

Maple Grove-based InterBank was closed by federal regulators on Friday. Customers continue to have access to their money by check, ATM and online this weekend.

Customers of Lakeville’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 Lakeville branch, 10880 175th Court—have been transferred to Great Southern Bank of Reeds Spring, MO. Other branches are in Edina, Maple Grove 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.

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