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
Grygla, Minnesota

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

 

Contact Federal Reserve Consumer Help to file a complaint against a bank or obtain additional information on mortgages, deposit accounts and other banking-related topics - offsite.

Federal Reserve Financial Services

Partnership for Progress is a Federal Reserve System program created to preserve and promote minority-owned institutions and enhance their ability to thrive in an increasingly competitive banking environment - offsite