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Applications Bulletin
District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Applications and notifications filed during the week ending March 19, 2011
| Type | Application | Ending date of comment period |
|---|---|---|
| CIC | Change in control notice by Gerald John Baack, Apple Valley, Minnesota, individually, and in concert with Sherri Lynn Baack, Apple Valley, Minnesota, to acquire and retain 10 percent or more of the shares of Bridgewater Bancshares, Inc., Bloomington, Minnesota, and thereby indirectly acquire and retain control of Bridgewater Bank, Bloomington, Minnesota. |
Newspaper: Not Available Federal Register: Not Available |
| CIC | Change in Control Notice by Najib G. Schlosstein, Arcadia, Wisconsin, to acquire 25 percent or more of the shares of GEBSCO, Mondovi, Wisconsin, and thereby indirectly gain control of Alliance Bank, Mondovi, Wisconsin. In addition, Castlerock Museum, Inc., Alma, Wisconsin, to retain shares of GEBSCO, Mondovi, Wisconsin, and thereby join the Schlosstein Family Group which controls 25 percent or more of GEBSCO, Mondovi, Wisconsin. |
Newspaper: Not Available Federal Register: Not Available |
| *3A1 | Western State Agency, Inc., Employee Stock Ownership Plan and Trust, Devils Lake, North Dakota, to become a bank holding company by acquiring over 25 percent of Western State Agency, Devils Lake, North Dakota and thereby indirectly acquire Western State Bank, Devils Lake, North Dakota. |
Newspaper: Not Available Federal Register: 03/24/2011 |
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 |
|---|---|---|---|---|---|
| None |
CRA examinations scheduled for Quarter
| Institution | Location |
|---|---|
| None |
* Subject to the provisions of the Community Reinvestment Act
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