District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
| Type | Application | Ending date of comment period |
|---|---|---|
| CIC | Change in Control Notice by Brian P. Short, St. Paul, Minnesota; Carolyn P. Short, Flourtown, Pennsylvania; and Marianne D. Short, St. Paul, Minnesota; individually and as trustees of fourteen Short family trusts, to retain 25 percent or more of the voting shares and thereby control of 215 Holding Company, Minneapolis, Minnesota. Kevin J. Short, Mahtomedi, Minnesota; Elizabeth J. Short, University Heights, Ohio; Colleen V. Short, Edina, Minnesota; and the trustees (Marion D. Short, Edina, Minnesota; Brian P. Short; Carolyn P. Short; and Marianne D. Short) on behalf of one or more of seventeen Short family trusts to join the Short Family Group, which controls 25 percent or more of the voting shares of 215 Holding Company, and thereby indirectly retain control of First Farmers & Merchants National Bank, Luverne, Minnesota; First Farmers & Merchants National Bank, Fairmont, Minnesota; First Farmers & Merchants State Bank, Brownsdale, Minnesota; First Farmers & Merchants State Bank of Grand Meadow, Grand Meadow, Minnesota; First Farmers & Merchants National Bank, Le Sueur, Minnesota; and White Rock Bank, Cannon Falls, Minnesota. |
Newspaper: Not available Federal Register: 05/17/2011 |
| CIC | Change in Control Notice by James Anton Senty, Onalaska, Wisconsin, to gain control of Northern Financial Corporation, Independence, Wisconsin, and thereby indirectly gain control of Independence State Bank, Independence, Wisconsin. |
Newspaper: Not available Federal Register: 05/12/2011 |
| *3A3 | Saint Joseph Bancshares Acquisitions, Inc., Saint Joseph, Minnesota, to acquire 100 percent of Financial Bancshares Company, Becker, Minnesota, and thereby indirectly acquire Sherburne State Bank, Becker, Minnesota. |
Newspaper: Not available Federal Register: 05/27/2011 |
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 |
|---|---|---|---|---|---|
| 648055 | Valley Bank of Helena Helena, Montana |
01/03/2011 | 04/22/2011 | O | Int Sm Bank |
| Institution | Location |
|---|---|
| None |
* Subject to the provisions of the Community Reinvestment Act