Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending November 16, 2013

Type Application Ending date of
comment period

* 3A3

Abdo Investments, Inc., Edina, Minnesota, to retain additional voting shares and acquire additional warrants on voting shares, thereby increasing its ownership interest to 28.00%, of Rivers Ridge Holding Company, Edina, Minnesota, which owns BankVista, Sartell, Minnesota.

Newspaper: 11/23/2013

Federal Register: 11/25/2013


CChange in Control Notice by Jay Abdo, Bloomington, Minnesota; Melody Borth, Mankato, Minnesota; Jill Hansen, Edina, Minnesota; Lynne Abdo, Norwalk, Connecticut; James Abdo, Edina, Minnesota; John Abdo, Saint Paul, Minnesota; and Paul Abdo, Edina, Minnesota, to retain 10% or more of the voting shares of Abdo Investments, Inc., Edina, Minnesota, and thereby indirectly retain control of Rivers Ridge Holding Company, Edina, Minnesota, which owns BankVista, Sartell, Minnesota.

Newspaper: 10/30/2013

Federal Register: 11/15/2013

* 3A3

Choice Financial Holdings, Inc., Grafton, North Dakota, to acquire 100% of Great Plains National Bank, Belfield, North Dakota. Choice Financial Holdings, Inc. also to acquire a 51% interest in Great Plains National Insurancy Agency, LLC, LaMoure, North Dakota, and thereby indirectly engage in general insurance agency activities in a community that has a population not exceeding 5,000.

Newspaper: Not available

Federal Register: 12/06/2013

* 3A3

Independent Bancshares, Inc., Clarkfield, Minnesota, to acquire 100 percent of The Citizens State Bank of Olivia, Olivia, Minnesota.

Newspaper: 11/30/2013

Federal Register: 11/29/2013


Retroactive change in control notice by Karen Neidhardt, Tampa, Florida, individually and as trustee, to retain 25% or more of the shares and thereby control of Jorgenson Holding Company, Inc., Kenmare, ND. Jorgenson Holding Company controls State Bank and Trust of Kenmare, Kenmare, ND, and The Citizens State Bank at Mohall, Mohall, ND. In addition, Ann Lenore Musser Irrevocable Trust, Kenmare, ND, Karen Neidhardt and Jane Farris, co-trustees and Jane Ellen Neidhardt Irrevocable Trust, Kenmare, ND, Karen Neidhardt and Ann Musser, co-trustees are filing notice to retain shares of Jorgenson Holding Company and thereby join the Jorgenson family group that controls 25% or more of Jorgenson Holding Company.

Newspaper: 11/12/2013

Federal Register: 10/31/2013


The James M. and Devon J. Goetz Family Trust Five, Mandan, North Dakota, to acquire 25 percent or more of the shares of Oliver Bancorporation, Inc., Center, North Dakota, and thereby indirectly gain control of Security First Bank of North Dakota, New Salem, North Dakota.

Newspaper: Not available

Federal Register: 11/26/2013

* 18C
* Branch

Peoples Bank of Wisconsin, Hayward, Wisconsin, to merge with Summit Community Bank, Maplewood, Minnesota, and incident thereto, establish a branch.

Newspaper: Not available

Federal Register: Not applicable

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






Small Bank

CRA examinations scheduled for Quarter of

Institution Location



* Subject to the provisions of the Community Reinvestment Act

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