Federal Reserve Bank of Minneapolis
|Type||Application||Ending date of
Midwest Bancshares, Inc., Tyndall, South Dakota, to become a bank holding company by acquiring 100 percent of Security State Bank, Tyndall, South Dakota, and Midwest Bancshares, Inc., Tyndall, South Dakota, to acquire 100 percent of Dakota Heritage State Bank, Chancellor, South Dakota. In addition, Midwest Bancshares, Inc., Tyndall, South Dakota, to acquire 100 percent of Chancellor Insurance Agency, LLC, Chancellor, South Dakota, and thereby engage in insurance agency activities in a town with a population not exceeding 5,000.
Federal Register: 11/14/2011
Notice by Marilyn Senty Ivers, Great Falls, Montana, to retain 25 percent or more of the shares of Northern Financial Corporation, Independence, Wisconsin, and thereby indirectly retain control of Independence State Bank, Independence, Wisconsin.
Federal Register: 10/26/2011
Change in Control Notice by Mark E. Davis, St. Peter, Minnesota, to acquire 25 percent or more of the shares of Riverland Bancorporation, Jordan, Minnesota, and thereby indirectly gain control of Riverland Bank, Jordan, Minnesota.
Newspaper: Not available
Federal Register: 11/08/2011
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|
* Subject to the provisions of the Community Reinvestment Act