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Midwest Bank President Stephen Daggett says that local banks are doing well amidst the financial crisis that has led to the collapse of several prestigous financial institutions.

Local banks doing well

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The recent financial crisis was exacerbated over concerns that a $700 billion financial rescue package that would allow the federal government to buy mortgage-backed securities would not be passed by Congress.


Despite several large banks going under or being sold off, banks in Detroit Lakes are healthy, said one local bank president.

Midwest Bank's Stephen Daggett said that his institution has received calls from those worried about their deposits.

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