Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, February 23, 2008

Type Application Ending date of
comment period

CIC

Notice by Lloyd O. Olson, Lake Park, Minnesota, to retain 10 percent or more of the shares of Lake Park Bancshares, Inc., Lake Park, Minnesota, and thereby indirectly retain control of State Bank of Lake Park, Lake Park, Minnesota.

Newspaper - Not available

Fed Reg - 03/04/2008

* 3A1

Mills Financial Services, Inc., Brainerd, Minnesota, to become a bank holding company by acquiring 100 percent of First Security Bank - Sanborn, Sanborn, Minnesota.

Newspaper - 2/29/2008

Fed Reg - 03/04/2008

*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 Second Quarter of 2008 (April 1, 2008 - June 30, 2008)

Institution Location

Bank of Glen Ullin

Glen Ullin, North Dakota

Citizens State Bank of Ontonagon

Ontonagon, Michigan

Dacotah Bank

Aberdeen, South Dakota

Farmers State Bank of Madelia

Madelia, Minnesota

First Bank MT

Lewistown, Montana

First Western B&T

Eden Prairie, Minnesota

First Western B&TC

Minot, North Dakota

Yellowstone Bank

Laurel, Montana

 
Latest

Narayana Kocherlakota

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