Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, October 10, 2009

Type Application Ending date of
comment period


Retroactive notice by Craig E. Scherber to acquire 10 percent or more of the shares of American Eagle Financial Corporation, Otsego, Minnesota, and thereby indirectly gain control of Riverview Community Bank, Otsego, Minnesota.

Newspaper: Not available

Federal Register: 10/21/2009


Earl E. Geiger, Bloomington, Minnesota, to acquire shares of Heritage Bancshares Group, Inc., Willmar, Minnesota, and thus to join the Geiger Family Group acting in concert which controls over 25 percent of Heritage Bancshares Group, Inc. Heritage Bancshares Group, Inc., owns Heritage Bank, NA, Spicer, Minnesota, and Heritage Bank, NA, Holstein, Iowa.

Newspaper: Not available

Federal Register: 10/19/2009


Notice by Darin J. Latterall, Kelliher, Minnesota, to acquire 25 percent or more of the shares of Kelliher Bancshares, Inc., Kelliher, Minnesota, and thereby indirectly gain control of Citizens State Bank of Kelliher, Kelliher, Minnesota.

Newspaper: 10/13/2009

Federal Register: 10/24/2009


Belva H. Rasmussen 2009 Grantor Retained Annuity Trust, Falcon Heights, Minnesota; and Eva B. Rasmussen, Edina, Minnesota; Pamela M. Harris, Falcon Heights, Minnesota; and Teresa J. Rasmussen Trangsrud, Orono, Minnesota, Trustees, to join a group acting in concert with Belva H. Rasmussen, individually, and with Belva H. Rasmussen, Teresa J. Rasmussen Trangsrud and Lyle Delwyche, trustees of the Walter C. Rasmussen Marital Trust Under Agreement dated December 26, 1985, and the Walter C. Rasmussen Family Trust Under Agreement dated December 26, 1985 (together, the "Rasmussen Family Group") to acquire 25 percent or more of Northeast Securities Corporation, Minneapolis, Minnesota. Northeast Securities Corporation controls Northeast Bank, Minneapolis, Minnesota.

Newspaper: Not available

Federal Register: 10/21/2009

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
651457 First Security Bank of Malta
Malta, Montana
05/11/2009 06/15/2009 O Small Bank

CRA examinations scheduled for Quarter of

Institution Location
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