Federal regulators have told Vantus Bank, based in Sioux City, that its plan to increase capital was unacceptable.

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Vantus Bank Undercapitalized


Posted on Aug 25, 2009

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.

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Welcome to the Lombardi Law Firm website. Knowing your rights and how to protect yourself is important. Always be alert to risks that can cause you injury or get you killed.  Steve Lombardi provides commentary and insight on this blog, The Verdict and also writes for the Iowa Edict and on occasion on the Des Moines Register web site. Steve Lombardi has more than 30 years in civil litigation including death and injury cases for workers and their spouses for all types of accidents and injuries. Attorney Steve Lombardi is a personal injury lawyer. Join us in making the world a safer place. (515-222-1110 or sdlombardi@aol.com )
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