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Applications Bulletin
District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Applications and notifications filed during the week ending Saturday, March 10, 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: 03/23/2012 |
* Branch |
First Interstate Bank, Billings, Montana, to establish a branch facility to be located at 2850 Old Hardin Road, Billings, Montana. |
Newspaper: 03/20/2012 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: 03/20/2012 |
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 |
|---|---|---|---|---|---|
| None |
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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