Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending January 26, 2013

Type Application Ending date of
comment period

* 3A3

State Bankshares, Inc., Fargo, North Dakota, to acquire 100 percent of Business Bancorporation, Inc., Minnetonka, Minnesota, and thereby indirectly acquire The Business Bank, Minnetonka, Minnesota.

Newspaper: Not available

Federal Register: 02/21/2013

CIC

Thomas Winkels, individually and as trustee of six McNeilus Family Trusts, and Donna McNeilus, individually, all of Dodge Center, Minnesota, to acquire or retain control of 25 percent or more of the shares and thereby control of Sterling Financial Group, Inc., Rochester, Minnesota (SFG). SFG controls Sterling State Bank, Austin, Minnesota. In addition, Thomas Winkels; Myrlane Winkels, Dodge Center, Minnesota; Christopher Winkels, New Market, Minnesota; Sara Winkels, Dodge Center, Minnesota; and the six McNeilus Family Trusts, Dodge Center, Minnesota; comprise the Winkels and McNeilus Family Trust group, and Donna McNeilus; Justin McNeilus, Byron, Minnesota; Christina McNeilus, Dodge Center, Minnesota; and Kimberly McNeilus, Dodge Center, Minnesota; to join the McNeilus Family Shareholder group which both control 25% or more of the shares and thereby control SFG and indirectly control Sterling State Bank.

Newspaper: Not available

Federal Register: 02/05/2013

CIC

Retroactive change in control notice by Kellen M. Shebeck, Underwood, Minnesota, and Meegan S. Heidebrink, Adrian, Minnesota, each to retain 25 percent or more of the shares of Underwood Bancshares, Inc., Underwood, Minnesota, and thereby indirectly retain control of Farmers State Bank of Underwood, Underwood, Minnesota.

Newspaper: Not available

Federal Register: 02/11/2013


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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