Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, January 12, 2008

Type Application Ending date of
comment period

* 3A5

BancMidwest Corporation, Saint Paul, Minnesota, to acquire 100 percent of Hiawatha Bancshares, Inc., Hager City, Wisconsin, and thereby indirectly acquire Hiawatha National Bank, Hager City, Wisconsin.

Newspaper - Not available

Fed Reg - 02/11/2008

Member

First Western Bank, Wall, South Dakota, proposes to become a member of the Federal Reserve System.

Newspaper - Not applicable

Fed Reg - Not applicable

Member

The First Western Bank Sturgis, Sturgis, South Dakota, proposes to become a member of the Federal Reserve System.

Newspaper - Not applicable

Fed Reg - Not applicable

* 3A3

Frandsen Financial Corporation, Arden Hills, Minnesota, to acquire 100% of The First National Bank of Montgomery, Montgomery, Minnesota.

Newspaper - Not available

Fed Reg - 01/28/2008

* 3A1

United Citizens 401(K) Savings Plan, Osseo, Wisconsin, to become a bank holding company by acquiring up to 56 percent of the Class A common stock of United Bancorporation, Osseo, Wisconsin, and thereby indirectly acquire United Bank, Osseo, Wisconsin; Cambridge State Bank, Cambridge, Wisconsin; Lincoln Community Bank, Merrill, Wisconsin; Bank of Poynette, Poynette, Wisconsin; Clark County State Bank, Osceola, Iowa; Farmers State Bank, Stickney, South Dakota; and Farmers & Merchants State Bank, Iroquois, South Dakota.

Newspaper - Not available

Fed Reg - 02/01/2008

*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
None          


CRA examinations scheduled for Quarter of

Institution Location
None  
 

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