Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending August 18, 2012

Type Application Ending date of
comment period

* 3A3

American Bancor, Ltd., Dickinson, North Dakota, to acquire 100 percent of North Country Bank, National Association, McClusky, North Dakota.

Newspaper: Not available

Federal Register: 09/06/2012

CIC

MVC Private Equity Fund, LP, Purchase, NY; MVC GP II, LLC, Purchase, NY; MVC Financial Services, Inc., Purchase, NY; MVC Partners LLC, Purchase, NY; MVC Capital, Inc., Purchase, NY; The Tokarz Group Advisors LLC, Purchase, NY; Michael Tokarz, Purchase, NY; and James Pinto, Greenwich, CT (collectively "MVC"), intend to apply to the Federal Reserve Board for permission to acquire 24.76 percent of the shares of BNCCORP, Inc., Bismarck, ND. Additionally, MVC; Prairie Petroleum Inc., Denver, CO; Eugene Nicholas, Cando, ND; Timothy Dodd, Ottertail, Minnesota; Jeffrey Topp, Grace City, ND; Janet Topp, Grace City, ND; Roger Kenner, Leeds, ND; Bradley Fay, Bismarck, ND; and William Coleman, Denver, CO, as a group acting in concert intend collectively to acquire more than 25 percent of BNCCORP, Inc., and thereby acquire BNC National Bank, Glendale, Arizona.

Newspaper: 08/22/2012

Federal Register: 08/28/2012

* 3A3

Frandsen Financial Corporation, Arden Hills, Minnesota, to acquire 100% of Clinton Bancshares, Inc., and thereby indirectly acquire Clinton State Bank, Clinton, Minnesota.

Newspaper: Not available

Federal Register: 09/07/2012


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 Quarter of

Institution Location

NONE

 


* Subject to the provisions of the Community Reinvestment Act

 
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