Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending March 26, 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: 04/11/2011

Federal Register: 04/11/2011

CIC

Notice by Stuart James Sneer, Mankato, Minnesota, as a trustee of three Sneer Family trusts to individually acquire control of 25% or more of Farmers State Corporation, Mankato, Minnesota, and thereby indirectly acquire control of United Prairie Bank, Mountain Lake, Minnesota. Notice by Jeffrey Lee Weldon, Mankato, Minnesota, as a trustee of four Sneer Family trusts to individually acquire control of 25% or more of Farmers State Corporation, Mankato, Minnesota, and thereby indirectly acquire control of United Prairie Bank, Mountain Lake, Minnesota. Notices by Jennifer Susan Johnson, Chanhassen, Minnesota, as trustee of three Sneer Family trusts, the Stuart James Sneer Revocable Trust, the Stuart James Sneer Irrevocable Trust I, the Stuart James Sneer Irrevocable Trust II, the Jennifer Susan Johnson Revocable Trust, the Jennifer Susan Johnson Irrevocable Trust I, and the Jennifer Susan Johnson Irrevocable Trust II, all of Mankato, Minnesota, to join the James and Susan Sneer Family Group which controls 25% or more of Farmers State Corporation, Mankato, Minnesota, and thereby indirectly controls United Prairie Bank, Mountain Lake, 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: 04/11/2011

*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: 03/24/2011

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
595953 Farmers St Bk of Denton
Denton, Montana
12/06/2010 03/15/2011 S Small Bank
147857 First Bk Blue Earth
Blue Earth, Minnesota
11/29/2010 03/16/2011 S Small Bank


CRA examinations scheduled for Quarter

Institution Location
None  

* Subject to the provisions of the Community Reinvestment Act

 

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