Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending January 14, 2012

Type Application Ending date of
comment period

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: 01/20/2012

Federal Register: 01/18/2012


MinnDak Bancshares, Inc., Park Rapids, Minnesota, to become a bank holding company by acquiring 100 percent of Kent Bancshares, Inc., Kent, Minnesota, and thereby indirectly acquire Kent State Bank, Kent, Minnesota.

Newspaper: Not available

Federal Register: Not available

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
566953 STATE BK OF TOWNSEND, TOWNSEND, MONTANA 06/27/2011 12/26/2011 O Small Bank

CRA examinations scheduled for Quarter

Institution Location

* Subject to the provisions of the Community Reinvestment Act

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