Federal Reserve Bank of Minneapolis
|Type||Application||Ending date of
State Bankshares, Inc., Fargo, North Dakota, to acquire 100 percent of First Hawley Bancshares, Inc., Hawley, Minnesota, and thereby indirectly acquire First National Bank, Hawley, Minnesota.
Federal Register: 02/21/2012
Western State Agency, Inc. Employee Stock Ownership Plan and Trust, Devils Lake, North Dakota, to acquire additional shares and thereby increase its ownership of Western State Agency, Inc., Devils Lake, North Dakota, from 28.81% up to 43.25%. Western State Agency, Inc. owns Western State Bank, Devils Lake, North Dakota.
Newspaper: Not Available
Federal Register: 03/09/2012
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|
STATE BK OF TOWNSEND, TOWNSEND, MONTANA
* Subject to the provisions of the Community Reinvestment Act