Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending January 15, 2011

Type Application Ending date of
comment period
CIC

Retroactive notice by Russell James Gesell, Saint Paul, Minnesota, individually, and as co-trustee of the Charles R. Gesell Irrevocable Trust, Saint Paul, Minnesota, and the Peter J. Gesell Irrevocable Trust, Saint Paul, Minnesota, to retain 25 percent or more of the shares of Cherokee Bancshares, Inc., Saint Paul, Minnesota, and thereby indirectly retain control of BankCherokee, Saint Paul, Minnesota. In addition, retroactive notice by Rene J. Gesell, Saint Paul, Minnesota, individually, and as co-trustee of the Charles R. Gesell Irrevocable Trust, Saint Paul, Minnesota, and the Peter J. Gesell Irrevocable Trust, Saint Paul, Minnesota, and these two trusts, to retain shares of Cherokee Bancshares, Inc., Saint Paul, Minnesota, and thus join the Gesell Family Group, which controls 25% or more of Cherokee Bancshares, Inc., Saint Paul, Minnesota, and thereby indirectly controls BankCherokee, Saint Paul, Minnesota.

Newspaper: Not available

Federal Register: 01/21/2011

CIC

Notice by Karl J. Breyer, Minneapolis, Minnesota, to acquire 10 percent or more of the shares of First Advantage Bancshares, Inc., Coon Rapids, Minnesota, and thereby indirectly gain control of First Advantage Bank, Coon Rapids, Minnesota. In addition, notice by Richard M. Ihrig, and Colleen J. Cooper, both of Minneapolis, Minnesota, to jointly acquire 10 percent or more of the shares of First Advantage Bancshares, Inc., Coon Rapids, Minnesota, and thereby indirectly gain control of First Advantage Bank, Coon Rapids, Minnesota.

Newspaper: 01/02/2011

Federal Register: 01/04/2011

CIC

Change in Control Notice by Gregory R. Raymo, Worthington, Minnesota, individually and as a proposed Co-Trustee of the First State Bank Southwest 2010 Amended and Restated KSOP Plan and trust, to acquire 25 percent or more of the shares of First Rushmore Bancorporation, Inc., Worthington, Minnesota, and thereby indirectly gain control of First State Bank Southwest, Pipestone, Minnesota.

Newspaper: Not available

Federal Register: 02/03/2011

CIC

Change in control notice by Richard M. Connor, Jr., Laona, Wisconsin, to acquire and retain 25 percent or more of the shares of Northern Wisconsin Bank Holding Company, Inc., Laona, Wisconsin, and thereby indirectly acquire and retain control of Laona State Bank, Laona, Wisconsin.

Newspaper: 01/26/2011

Federal Register: 01/20/2011

CIC

Notice by Noah W. Wilcox, as an individual and as trustee of the Noah W. Wilcox Trust, Grand Rapids, Minnesota, to acquire 25 % or more of the shares of Wilcox Bancshares, Grand Rapids, Minnesota, and thereby indirectly control Grand Rapids State Bank, Grand Rapids, Minnesota. Additionally, the Noah W. Wilcox trust will acquire 10 % or more of Wilcox Bancshares, and thus join the Wilcox Family Group, and thereby indirectly control Grand Rapids State Bank, Grand Rapids, Minnesota.

Newspaper: Not available

Federal Register: 02/01/2011


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
258351 PENINSULA BK, ISHPEMING, MICHIGAN 09/13/2010 01/10/2011 S Small Bank


CRA examinations scheduled for Quarter

Institution Location
None  

* Subject to the provisions of the Community Reinvestment Act

 

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