Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending April 6, 2013

Type Application Ending date of
comment period

CIC

Change in Control Notice by William P. Von Holtum, Edina, Minnesota, individually and as trustee of the voting trust of the John E. Von Holtum Estate, Edina, Minnesota, to retain control of 25% or more of Central Trust Company, Edina, Minnesota, and thereby indirectly retain control of Central Bank and Trust, Lander, Wyoming; CenBank, Buffalo Lake, Minnesota; and VH Bancorporation, Inc., Edina, Minnesota, which owns Grand Marais State Bank, Grand Marais, Minnesota. In addition, Megan E. Von Holtum and Christopher J. Von Holtum, both of Edina, Minnesota, to join the Von Holtum Family Group, which owns 25% or more of the shares of Central Trust Company.

Newspaper: Not available

Federal Register: 04/22/2013

CIC

Post notice by Tina Pogatchnik Rabe, Hinckley, Minnesota, individually and as trustee of two Pogatchnik family trusts, to retain 25 percent or more of the shares of Finlayson Bancshares, Inc., Finlayson, Minnesota. Also, post notice by D.A. Pogatchnik Family Trust, Hinckley, Minnesota, Tina Pogatchnik Rabe, trustee; Dean L. Pogatchnik Grandchildren's Trust, Finlayson, Minnesota, Bruce A. Pogatchnik, trustee; and Bruce Pogatchnik Family Trust, Hinckley, Minnesota, Tina Pogatchnik Rabe, trustee, to join the Pogatchnik family group which controls 25 percent or more of Finlayson Bancshares, and thereby indirectly controls Northview Bank, Sandstone, Minnesota, and First Independent Bank, Russell, Minnesota.

Newspaper: Not available

Federal Register: 04/22/2013

CIC

Change in Control notice by Joseph Robert Dickson III, Citrus Heights, California, David W. Dickson, Northbrook, Illinois, and Samuel J. Dickson, Fairfax, Minnesota, to each retain 25 percent or more of the shares of Fort Ridgely National Bancorporation, Inc., Fairfax, Minnesota, and thereby indirectly retain control of First National Bank of Fairfax, Fairfax, Minnesota.

Newspaper: 04/15/2013

Federal Register: 04/01/2013

* 3A1

J & B Financial Holdings, Inc., Minneapolis, Minnesota, to become a bank holding company by acquiring 100% of Mills Resolute Bank, Sanborn, Minnesota.

Newspaper: 04/26/2013

Federal Register: 05/02/2013

CIC

The 2012 Jack W. Steele Irrevocable Trust and the 2012 Donna D. Steele Irrevocable Trust ("Trusts"), both of Huron, South Dakota; Preston B. Steele, individually and as trustee of Trusts, and Tasha J. Lee, individually and as trustee of Trusts, both of Huron, South Dakota; and American Bank & Trust, Wessington Springs, South Dakota, as trustee of Trusts, to retain and acquire control of Leackco Bank Holding Company, Inc., Wolsey, South Dakota, and thereby indirectly retain and acquire control of American Bank & Trust, Wessington Springs, South Dakota, and American State Bank of Pierre, Pierre, South Dakota.

Newspaper: Not available

Federal Register: 04/09/2013

4c8*
3A1

MidWest Bancorporation, Inc., Eden Prairie, Minnesota, to become a bank holding company as a result of the proposed conversion of its wholly-owned subsidiary, Star Bank, Bertha, Minnesota, from a federal savings bank to a Minnesota state-chartered commercial bank. Midwest Bancorporation, Inc., Eden Prairie, MN, through Todd County Agency, Inc., Eden Prairie, MN, and its subsidiary West Central Agency, Inc., Graceville, MN, to engage in general insurance agency activities under 225.28(b)(11)(iii)(A) of Regulation Y.

Newspaper: Not available

Federal Register: 04/29/2013

CIC

Post notice by the Elizabeth Ann Soderberg Irrevocable Trust, New Richmond, Wisconsin, Scott H, Soderberg, Eden Prairie, Minnesota, individually and as trustee, the Scott H. Soderberg Irrevocable Trust, New Richmond, Wisconsin, and Elizabeth Ann Soderberg, Minnetonka, Minnesota, individually and as trustee to join the Soderberg family control group which controls 25 percent or more of the shares of One Corporation, New Richmond, Wisconsin and thereby indirectly retain control of First National Community Bank, New Richmond, Wisconsin.

Newspaper: Not available

Federal Register: 04/23/2013

CIC

Change in Control Notice by Kevin Lee Mulder, Minneapolis, Minnesota, to acquire voting shares of PSB Financial Shares, Inc., Prinsburg, Minnesota, which owns PrinsBank, Prinsburg, Minnesota, and thereby join the Mulder Family Group, which controls 25% or more of PSB Financial Shares, Inc.

Newspaper: Not available

Federal Register: Not available


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

382050

CENTRAL SVG BK, SAULT SAINTE MARIE, MICHIGAN

11/05/2012

03/21/2013

O

Small Bank


CRA examinations scheduled for Quarter of

Institution Location

NONE

 


* Subject to the provisions of the Community Reinvestment Act

 

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Federal Reserve Financial Services

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