Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, August 16, 2008

Type Application Ending date of
comment period
* Branch

American State Bank, Pierre, South Dakota, to establish a mobile branch facility to be located in Pierre, and Fort Pierre, South Dakota.

Newspaper - 07/20/2008

Fed Reg - Not applicable


David Schornack, Perham, Minnesota, individually and as a part of a group acting in concert with Denise Schornack, Perham, Minnesota; Daniel Welter, New York Mills, Minnesota; and Bonnie Welter, New York Mills, Minnesota, to acquire control of Quality Bankshares, Inc., Fingal, North Dakota, and thereby indirectly acquire control of Quality Bank, Fingal, North Dakota.

Newspaper - 08/11/2008

Fed Reg - 08/13/2008


Notice by John Richard Doherty, Oswego, Illinois, to retain 10 percent or more of the shares of West End Financial Corporation, Bessemer, Michigan, and thereby indirectly retain control of Gogebic Range Bank, Bessemer, Michigan.

Newspaper - 08/26/2008

Fed Reg - 08/06/2008

*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

CRA examinations scheduled for Quarter of

Institution Location
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