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Spring Grove’s Jennings Bank closed by regulators October 2 Becomes a branch of Central Bank of Sti
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On Friday, Oct. 2 Jennings State Bank in Spring Grove became the 97th
Federal Deposit Insurance Corporation backed financial institution to
be closed this year. The bank was shut down at the end of the business
day by the Minnesota Department of Commerce. The FDIC was named as
receiver. On Saturday the bank re-opened as a branch of Central Bank of
Stillwater, Minnesota.
In an agreement worked out beforehand by the FDIC, Central Bank will
take over Jennings State Bank’s $52.4 million in deposits and
“essentially all the bank’s assets, which totaled $56.3 million on July
31,” (according to an Associated Press report).
The new owner has to agree to share in covering losses on approximately
$37.7 million of the former bank’s assets. The share of the losses that
the FDIC will pay are reported at $11.7 million.
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Interest rates for ‘phase one’ bonding of CJC $1.4 million less than consultants had anticipated
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Houston County received some very good news Sept. 29 when it was announced that due to the excellent credit rating the county has and low interest rates currently being offered, phase one financing for the criminal justice center (CJC) will be approximately $1.4 million less than originally thought.
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Caledonia Fire Department urges all to review fire safety practices during Fire Prevention Week
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The Caledonia Fire Department would like folks to think about fire safety all the time. Human nature dictates differently. During Fire Prevention Week, which is being observed Oct. 4 - 10, our local firefighters try to bring fire prevention awareness to the forefront.
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Warrior volleyball players, CC&R residents enjoy visitation program
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As a community service project, the Caledonia varsity volleyball players spend some time visiting with residents of Caledonia Care & Rehab before evening games. Warrior players, from left, Emma Lange, Amber Sorenson and Sadie Lange had a good time visiting with CC&R resident Tina Workman. Photo by Charlie Warner
“We just have to tell them ‘the girls are coming,’ and our residents are right there, ready to go. I think this is such a wonderful program.”
That’s the way Caledonia Care & Rehab Activities Director Marie Howard commented on a program the Caledonia Area High School volleyball team is participating in.
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Eitzen State Bank will celebrate 100 years with open house Oct. 9
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The new bank building, shown above, was built in 1974 and an addition, which doubled the floor space was completed in 2007.
Loyal customers who have a very good work ethic, as well as a very dedicated staff are reasons why both Ron Chamberlin and Don Meiners feel the Eitzen State Bank has been able to not only survive the ups and downs of the past century, but has been able to prosper. The Eitzen State Bank, with offices in both Eitzen and Caledonia, will be celebrating 100 years in the banking business this Friday, Oct. 9 from 3 to 6 p.m. at both locations.
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Puttin’ on the Ritz to be held at Camp Winnebago
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Back by popular demand, Camp Winnebago is hosting the second annual Puttin’ on the Ritz fundraising event on Saturday, Oct. 17.
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Small cities block grant program will be coming to Caledonia
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Caledonia residents may have an opportunity to improve their homes, making them more energy efficient through a small cities block grant program. Jane Schiltz and Michelle Vrieze of the Southeast Minnesota Development Corporation (SEMDC) and Wayne Stenberg from Semcac made a presentation at the Sept. 28 Caledonia City Council meeting.
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Residents receive more information on electric cable replacement project
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About 40 residents of the Foltz and Sunnyside subdivisions attended the Sept. 28 Caledonia City Council meeting to learn more about an underground electric cable replacement project. Representatives from EnergyPlus, a consulting firm from La Crosse the city has used for a number of years, were on hand to provide additional information about the proposed project and some of the cost estimates during a powerpoint presentation.
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