Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending May 18, 2013

Type Application Ending date of
comment period

4c8

Northern Michigan Corporation, Escanaba, Michigan, proposes to indirectly acquire (through Northern Michigan Service Corporation, Escanaba, Michigan, a wholly-owned subsidiary of Northern Michigan Bank & Trust, Escanaba, Michigan, which is a wholly-owned subsidiary of notificant) 50 percent of the voting equity of LDC Acquisition, LLC, Marquette, Michigan, a Michigan limited liability company, which proposes to purchase all of the outstanding capital stock of Lasco Development Corporation, Marquette, Michigan.

Newspaper: Not applicable

Federal Register: 06/07/2013

4c8

Peoples State Bancorp, Inc., Munising, Michigan, proposes to acquire indirectly (through its wholly-owned subsidiary Peoples State Bank of Munising, Munising, Michigan), 50 percent of the voting equity of LDC Acquisition, LLC, Marquette, Michigan, which proposes to purchase all of the outstanding capital stock of Lasco Development Corporation, Marquette, Michigan.

Newspaper: Not applicable

Federal Register: 06/07/2013


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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