Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, October 27, 2007

Type Application Ending date of
comment period


Change in control notice by Michael L. Frei, Pickstown, South Dakota to join a group acting in concert by acquiring shares of Commercial Holding Company, Wagner, South Dakota, and thereby indirectly acquiring control of Commercial State Bank, Wagner, South Dakota.

Newspaper – 10/23/2007

Fed Reg – 10/12/2007

* 3A5

Dairyland Bancorp, Inc., Bruce, Wisconsin, to acquire 100 percent of Gilman Corporation, Gilman, Wisconsin, and thereby indirectly acquire State Bank of Gilman, Gilman, Wisconsin.

Newspaper – 10/26/2007

Fed Reg – 11/05/2007

* 3A3

First Interstate BancSystem, Inc., Billings, Montana, to acquire 100 percent of First Western Bank, Wall, South Dakota, and The First Western Bank of Sturgis, Sturgis, South Dakota.

Newspaper – 11/04/2007

Fed Reg – 11/13/2007

* 3A3

Highland Bancshares, Saint Michael, Minnesota, to acquire 100 percent of Ridgedale State Bank, Minnetonka, Minnesota.

Newspaper – Not available

Fed Reg – 11/16/2007


State Bankshares Inc., Fargo, North Dakota, to acquire 91% of Lighthouse1, L.L.C., a limited liability company, Minneapolis, Minnesota, and thereby engage in a permissible nonbanking activity under section 225.28(b)(14) of Regulation Y.

Newspaper – Not applicable

Fed Reg – Not available

*Subject to the provisions of the Community Reinvestment Act.

Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community be evaluated periodically. That record is taken into account in considering an institution's application for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding
S = Satisfactory
NI = Needs to improve
SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD number Institution/Location Exam date CRA public date CRA rating Exam type



CRA examinations scheduled for Quarter of

Institution Location
Latest Articles

Contact Federal Reserve Consumer Help to file a complaint against a bank or obtain additional information on mortgages, deposit accounts and other banking-related topics - offsite.

Federal Reserve Financial Services

Partnership for Progress is a Federal Reserve System program created to preserve and promote minority-owned institutions and enhance their ability to thrive in an increasingly competitive banking environment - offsite