Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending August 24, 2013

Type Application Ending date of
comment period

CIC

Change in Control Notice by Jay Charles Erie, Rochester, Minnesota, John Kenneth Erie, Fargo, North Dakota, and Jane Kathryn Erie Moen, Eden Prairie, Minnesota, to retain voting shares of MEDR Bancshares, Inc., Erskine, Minnesota, and join the Erie Family Shareholder group which owns 25 percent or more of MEDR Bancshares, Inc., and thereby indirectly controls American State Bank of Erskine, Erskine, Minnesota.

Newspaper:09/09/2013

Federal Register: 09/03/2013

CIC

Change in Control notice by Krista B. Ryan, individually and as trustee of the KBR 2008 Irrevocable Trust, Byron, Minnesota, to acquire 25 percent or more of the voting shares of Olmsted Bancorporation, Inc., Byron, Minnesota, and thereby indirectly gain control of First Security Bank, Byron, Minnesota.

Newspaper: 09/05/2013

Federal Register: 09/06/2013


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

988658

FARMERS ST BK OF MADELIA, MADELIA, MINNESOTA

04/08/2013

08/14/2013

O

 

Small Bank


CRA examinations scheduled for Quarter of 2013 (October 1, 2013 - December 31, 2013)

Institution Location

CITIZENS B&TC

BIG TIMBER, MONTANA

DAKOTA WESTERN BK

BOWMAN, NORTH DAKOTA

FARMERS ST BK OF WEST CONCORD

WEST CONCORD, MINNESOTA

HEARTLAND ST BK

EDGELEY, NORTH DAKOTA

NORTHWESTERN BK

CHIPPEWA FALLS, WISCONSIN

PROFINIUM FNCL

TRUMAN, MINNESOTA

UNITED BKR BK

BLOOMINGTON, MINNESOTA


* Subject to the provisions of the Community Reinvestment Act

 
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