Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, March 3, 2012

Type Application Ending date of
comment period

CIC

Change in Control Notice by MVC Private Equity Fund, L.P., Purchase, New York, to gain control of BNCCORP, Inc., Bismarck, North Dakota, and thereby indirectly gain control of BNC National Bank, Glendale, Arizona.

Newspaper: Not available

Federal Register: Not available

CIC

Change in Control Notice by the Erick A. Gandrud Irrevocable Trust, Glenwood, Minnesota (John R. Gandrud, Trustee), and The John R. Gandrud Irrevocable Trust, Glenwood, Minnesota (Erick A. Gandrud, Trustee), to retain 25% or more of the shares of Eagle Investment Company, Inc., Glenwood, Minnesota, and thereby indirectly retain control of Eagle Bank, Glenwood, Minnesota. Additionally, the Erick A. Gandrud Trust and Trustee, and the John R. Gandrud Trust and Trustee, propose to join the Gandrud Family Group which controls 25% or more of Eagle Investment Company, Glenwood, Minnesota.

Newspaper: Not available

Federal Register: Not available

CIC

Change in Control Notice by Daniel Eugene Bergee and Dale VanHavermaet, as proposed Co-Trustees, Hawley, Minnesota, to gain control of State Bank of Hawley Employee Stock Ownership Plan & Trust (ESOP), and thereby indirectly gain control of Bankshares of Hawley, Inc., and its wholly-owned subsidiary, State Bank of Hawley, Hawley, Minnesota, both of Hawley, Minnesota.

Newspaper: Not available

Federal Register: Not available

* 3A3

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: 03/08/2012

Federal Register: 03/09/2012


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
865450 PROFINIUM FNCL, TRUMAN, MINNESOTA 10/17/2011 02/14/2012 O Int Sm Bank


CRA examinations scheduled for Second Quarter of 2012 (April 1, 2012 - June 30, 2012)

Institution Location
None  

* Subject to the provisions of the Community Reinvestment Act

 
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