Back in January in required reporting to the Minnesota Campaign Finance Board, State Representative Mary Kiffmeyer gave business information:
Occupation: RN Business Owner
Business Address:16160 201st Ave, Big Lake, MN 55309
Employer Name: RK Anesthesia Svcs
Then, in an online federal banking FAQ info (current as of Nov. 2, 2009) the FDIC wrote:
12. Shareholders: What about my shares of stock?
All shares of Riverview Community Bank were owned by its holding company, American Eagle Financial Corporation, Otsego, MN. The holding company was not included in the closing of the bank or the resulting receivership. If you are a shareholder of American Eagle Financial Corporation, please do not contact or file a claim with the Receiver. You may contact American Eagle Financial Corporation directly for information as follows:
American Eagle Financial Corporation
16160 201 Ave NW
Big Lake, MN 55309
Well, isn't that curious?
The Kiffmeyer Bank stock is all owned by the holding company, headquartered where but at the Ralph and Mary family anesthesia service - meaning, of course - when the bank had to take gas it couldn't have been at a more appropriate place.
_________UPDATE_________
But wait, there's more ...
All from one address. Talk about commingling. Holding the Bank stock, contracting anesthesia services, accepting contributions to the campaign and running the campaign, chamber of commerce - one stop service, like WalMart.
I hope they keep separate sets of Kiffmeyer books in this one Big Lake locale.
_________FURTHER UPDATE__________
Six years in operation and down the tubes. For a bank where just across the river there is Bank of Elk River, in operation since the 1880's.
Management is the failure story, not market, not locale. And those behind the "faith" bank lacked enough faith to put more of their own cash at risk and into the thing; or they had enough faith, but lacked any such massive amounts of cash as regulators required to be able to pretend it was not a lost, mismanaged, quickly-tanked mess.
Brought to you by ----
Let's just say, Big Lake entrepreneurs.