Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending January 7, 2012

Type Application Ending date of
comment period
CIC

Change in Control Notice by the Gladys E. Youse Trust, and its trustee, Madolyn Y. Babcock, both of Minneapolis, Minnesota, to acquire 25% or more of Metro North Bancshares, Inc. and thereby indirectly acquire control of The Bank of Elk River, both of Elk River, Minnesota. Additionally, the Gladys E. Youse Trust, and its trustee, Madolyn Y. Babcock, propose to join the Babcock family shareholder group, which controls 25% or more of Metro North Bancshares, Inc.

Newspaper: Not available

Federal Register: 01/18/2012

*3A3

Perham State Bancshares, Inc., Perham, Minnesota, to acquire 100 percent of Farmers State Bank of Dent, Dent Minnesota.

Newspaper: 01/30/2012

Federal Register: 02/06/2012


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
223751 BELT VALLEY BK, BELT, MONTANA 08/29/2011 12/13/2011 S Small Bank
813853 COMMUNITY RESOURCE BK, NORTHFIELD, MINNESOTA 08/01/2011 11/28/2011 S Small Bank
289757 MERCHANTS ST BK, FREEMAN, SOUTH DAKOTA 08/15/2011 11/28/2011 S Small Bank


CRA examinations scheduled for Quarter

Institution Location
None  

* Subject to the provisions of the Community Reinvestment Act

 
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