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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 September 3, 2011
| Type | Application | Ending date of comment period |
|---|---|---|
4c8 |
Central Bancshares Inc., Golden Valley, Minnesota, to engage, de novo, in extending credit and servicing loans. |
Newspaper: Not applicable Federal Register: Not applicable |
CIC |
Retroactive change in control notice by Paul K. Steen, Edina, Minnesota, and James R. Steen, Fargo, North Dakota, to each retain 25% or more of the shares of Clinton Bancshares, Inc., Clinton, Minnesota, and thereby indirectly retain control of Clinton State Bank, Clinton, Minnesota. |
Newspaper: 08/26/2011 Federal Register: 09/13/2011 |
Premises |
First Montana Bank, Libby, Montana, to increase its investment in bank premises. |
Newspaper: Not applicable Federal Register: Not applicable |
| * Branch | Merchants State Bank, Freeman, South Dakota, to establish a de novo branch in Irene, South Dakota. |
Newspaper: 09/09/2011 Federal Register: Not applicable |
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 |
|---|---|---|---|---|---|
21359 |
American St Bk of Grygla |
05/10/2011 |
08/17/2011 |
S |
Small Bank |
CRA examinations scheduled for Quarter
| Institution | Location |
|---|---|
| None |
* Subject to the provisions of the Community Reinvestment Act
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