Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Applications and notifications filed during the week ending Saturday, April 14, 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

* 18C
* Branch

Community Bank, Inc., Ronan, Montana, to merge with Community Bank-Missoula, Inc., Missoula, Montana, and incident thereto, establish three branches in Missoula.

Newspaper: Not available

Federal Register: Not available

* 3A1

Ipswich Community Bancshares, Inc., Ipswich, South Dakota, to become a bank holding company by acquiring 100% of Yellowstone Trail Bancorporation, Ipswich, South Dakota, which owns Ipswich State Bank, Ipswich, South Dakota.

Newspaper: 04/27/2012

Federal Register: 04/27/2012

CIC

Change in Control Notice by Sharon Bauman, Apple Valley, Minnesota, Virginia Bauman, Farmington, Minnesota, and Michael Murray, Irving, Texas, as individuals, to acquire and retain 10 percent or more of the voting shares of Kerkhoven Bancshares, Inc., Kerkhoven, Minnesota, and thereby indirectly acquire and retain control of Financial Security Bank, Kerkhoven, Minnesota. In addition, Sharon Bauman, Virginia Bauman, Michael Murray, Florence Bauman, and Russell Bauman, to join the Bauman family control group which controls Kerkhoven Bancshares, Inc., Kerkhoven, Minnesota, and thereby indirectly controls Financial Security Bank, Kerkhoven, Minnesota.

Newspaper: 04/10/2012

Federal Register: 04/10/2012

* 18C
* 3A3

Leackco Banking Holding Company, Inc., Wolsey, South Dakota, to acquire 100% of ASB Bank Holding Company, Pierre, South Dakota, and thereby indirectly acquire American State Bank of Pierre, Pierre, South Dakota. In addition, American State Bank of Pierre to merge with ASB Interim Bank, Wessington Springs, South Dakota, and to remain the resultant bank.

Newspaper: Not available

Federal Register: 04/30/2012

CIC

Change in Control Notice by Steinhardt Capital Investors, LLP, along with its general partner Steinhardt Capital Management, LLC, both of Manistique, Michigan, and David R. Steinhardt and Michael H. Steinhardt, both of New York, New York, to gain control of Mackinac Financial Corporation, Manistique, Michigan, and thereby indirectly gain control of mBank, Manistique, Michigan.

Newspaper: Not available

Federal Register: Not available

* 3A1

Wells Financial Corp., Wells, Minnesota, to become a bank holding company as a result of the proposed conversion of its wholly-owned subsidiary, Wells Federal Bank, Wells, Minnesota, from a federal savings bank to a Minnesota state-chartered commercial bank.

Newspaper: 04/28/2012

Federal Register: 04/27/2012


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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