Bruce Nedegaard's lender, Community National Bank, croaks. Taken over by Iowans. The North Branch branch lent to Nedegaard, and closed before failure of the Lino Lakes operation.

The Sandisons and Martinson, and their pleas were mentioned; this link. The "failed Ramsey Town Center" was also mentioned. Bets are on, how long will it be before news reports mention "the failed Ramsey COR experiment." Whether the COR adventure will have its share of guilty pleas, and by whom, are questions time will answer.

____________UPDATE_____________
Parallel coverage, PiPress; Strib; and here and here. This excerpt from PiPress reporting:

The FDIC said in a statement this evening that customers can continue to use their existing branch, and can access their money by writing checks or using ATM or debit cards. Loan customers should continue to make their payments as usual.

Community National was the lead bank in a $35 million loan development deal involving 20 banks that would fund Ramsey Town Center, which was envisioned as a $1.3 billion mixed-use development but ran into trouble when the developer defaulted. The development has since been renamed COR, for City of Ramsey, and plans adjusted.

Three of the bank's former top officers were indicted on dozens of federal fraud charges in connection with the deal. William Sandison, the bank's former president, his son Ross Sandison, also a top officer, ended up pleading guilty to one count of conspiracy last year. Curtis Martinson, another top officer, also pleaded guilty in the case.

Community National, long based in North Branch, had been operating under new management and moved its headquarters to Lino Lakes. Although the bank had been shrinking its loan portfolio in the last couple of years and was losing money—it lost $1.9 million so far this year—it was well capitalized, unlike most banks closed by regulators.

Strib wrote its own story; the other two supplemental items carried PiPress reporting. Biz Journal, the original link above, originated its own reporting.