Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending January 18, 2014

Type Application Ending date of
comment period

CIC

The Ardath K. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, and The Glenn A. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, to each acquire 25% or more of the shares of Augusta Financial Corporation, Augusta, Wisconsin and thereby gain control of Unity Bank, Augusta, Wisconsin.

Newspaper: Not available

Federal Register: 02/06/2014

CIC

The Ardath K. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, and The Glenn A. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, to each acquire 25% or more of the shares of Caprice Corporation, Augusta, Wisconsin, and thereby gain control of Unity Bank North, Red Lake Falls, Minnesota.

Newspaper: Not available

Federal Register: 02/06/2014

* 3A3

Central Bancshares, Inc., Golden Valley, Minnesota, to acquire 100 percent of First Financial Holdings, Golden Valley, Minnesota, and thereby indirectly acquire First National Bank and Trust, Barron, Wisconsin.

Newspaper: 02/15/2014

Federal Register: 02/03/2014

* Branch

Dacotah Bank, Aberdeen, South Dakota, to establish a de novo branch facility to be located at 2510 8th Avenue Southwest, Jamestown, North Dakota.

Newspaper: 01/31/2014

Federal Register: Not applicable

CIC

Notice by Gloria S. Sundquist, Cut Bank, Montana, to retain control of 10% or more of the voting shares of Dutton Bancorporation, Inc., Dutton, Montana, and thereby indirectly retain control of Dutton State Bank, Dutton, Montana. In addition, Carl E. Sundquist, Cut Bank, Montana; Mary Lou Gordon, Great Falls, Montana; and Carrie L. Vollrath, Conrad, Montana, to retain voting shares of Dutton Bancorporation, Inc., and thereby remain members of the Sundquist Family Group, which contols 10% or more of Dutton Bancorporation, Inc., Dutton, Monana. Notice by Mark Stephens, Dutton, Montana; Chris Stephens, Great Falls, Montana; Andrea S. Swing, Manhattan, Montana; and Tyler Stephens, Augusta, Montana, as a group acting in concert with Robert E. Stephens and Robert Stephens, Jr., to retain voting shares of Dutton Bancorporation, Inc. The Stephens Family Group controls 10% or more of Dutton Bancorporation, Inc., Dutton, Montana, which owns Dutton State Bank, Dutton, Montana.

Newspaper: 02/05/2014

Federal Register: Not available

CIC

Change in Control notice by Mary Kathryn Fleming, Shorewood, Wisconsin, to acquire control of 10% or more of the shares of Headwaters Bancorp, Inc., Land O' Lakes, Wisconsin and thereby control Headwaters Bank, Land O' Lakes, Wisconsin. Also Jerry L. Olk, Land O' Lakes, Wisconsin, individually and as trustee, Jerry L. Olk Revocable Trust, Land O'Lakes, Wisconsin; Thomas L. Olk, Stevens Point, Wisconsin, individually and as trustee, and Elise E. Olk, Stevens Point, Wisconsin, individually and as trustee, Thomas L. & Elise E. Olk Revocable Trust, Stevens Point, Wisconsin; Susan Joanne Olk, San Francisco, California, individually and as trustee, Susan Joanne Olk Revocable Trust, San Francisco, California; R. Joseph Olk Irrevocable Trust, James Fogle, trustee, both of St. Louis, Missouri; Hillary Olk Dutcher, St. Louis, Missouri; Nathaniel Wood Olk, Chesterfield, Missouri; and Molly Wellborn Olk, Boulder, Colorado, to acquire or retain shares of Headwaters Bancorp., Inc., Land O' Lakes, Wisconsin, and thereby become or remain members of the Olk family control group, which controls 25% or more of the shares of Headwaters Bancorp., Inc., Land O' Lakes, Wisconsin.

Newspaper: Not available

Federal Register: 01/24/2014

CIC

Shirley R. Borgerding, Belgrade, Minnesota, individually and as part of the Borgerding Family Group acting in concert, to retain 25 percent or more of the shares and thereby control of NASB Shares, Inc., Belgrade, Minnesota, and thereby indirectly retain control of North American State Bank, Belgrade, Minnesota. In addition, the Shirley R. Borgerding Trust, the George N. Borgerding Trust, and Marjorie Borgerding as trustee of the James R. Borgerding Trust of 1994, intend to apply to the Federal Reserve Board for permission to join the Borgerding Family Group. The Borgerding Family Group includes Shirley R. Borgerding; George N. Borgerding, Belgrade, Minnesota; the Shirley R. Borgerding Trust and its co-trustees, George and Shirley Borgerding; the George N. Borgerding Trust and its co-trustees, George and Shirley Borgerding; Brian Borgerding, Belgrade, Minnesota; Paul Borgerding; Willmar, Minnesota; The James R. Borgerding Trust of 1994 and its trustee, Marjorie Borgerding, Fort Worth, Texas; Mary Gerding, Chicago, Illinois; and the Mark E. Borgerding Trust and its trustee, Mark E. Borgerding, Belgrade, Minnesota.

Newspaper: Not available

Federal Register: 01/28/2014


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

920854

PIONEER BK, MAPLETON, MINNESOTA

08/26/2013

12/09/2013

S

Small Bank


CRA examinations scheduled for Quarter of

Institution Location

NONE

 


* Subject to the provisions of the Community Reinvestment Act

 
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