Mainstreet bank

Customers of now-defunct Mainstreet Bank, including its Woodbury location, should notice little change under the new ownership of Central Bank, that bank's CEO said today. Mainstreet Bank failed and was closed Friday by the Federal Insurance Deposit Corp.

Merchants Financial Group, Inc., plans to purchase the deposits and building of the Mainstreet Bank at 7200 East Point Douglas Road in Cottage Grove, according to a press release. The two banks announced they had reached an agreement on the sale of the bank for approximately $16...