Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending February 1, 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

* 3A1

Citizens Community Bancorp Inc., Eau Claire, Wisconsin, to become a bank holding company by acquiring 100 percent of Citizens Community Federal National Association, Altoona, Wisconsin. Citizens Community Federal intends to convert from a federal savings bank to a national charter and be renamed Citizens Community Federal National Association.

Newspaper: Not available

Federal Register: Not available

CIC

Notice by The Lantz Bank Stock Trust, Lake Crystal, Minnesota, and Mr. Matthew W. Lantz, as trustee, and individually, Lake Crystal, Minnesota, to retain 25% or more of the shares of Lake Crystal Bancorporation, Inc., Lake Crystal, Minnesota, and thereby indirectly retain control of MinnStar Bank National Association, Lake Crystal, Minnesota.

Newspaper: Not available

Federal Register: Not available

* 3A1

Minnesota Community Bancshares, Inc., Minneapolis, Minnesota, to become a bank holding company by acquiring 100 percent of Hartland Bancshares, Inc., Hartland, Minnesota, which owns Farmers State Bank of Hartland, Hartland, Minnesota.

Newspaper: Not available

Federal Register: Not available

CIC

Change in Control notice by Robert Kruse, Saint Clair, Minnesota, and William Miller, Saint Peter, Minnesota, to each acquire control of 25% or more of the shares of Saint Clair Agency, Inc., Saint Clair, Minnesota, and thereby control Saint Clair State Bank, Saint Clair, Minnesota.

Newspaper: 02/10/2014

Federal Register: 02/12/2014

* 3A3

Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota, to retain and acquire additional stock and increase its ownership interest up to a maximum of 26% of Stearns Financial Services, Inc., Saint Cloud, Minnesota, and thereby indirectly increase its control of Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala, National Association, Upsala, Minnesota, and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota.

Newspaper: Not available

Federal Register: 02/27/2014


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

657758

CITIZENS B&TC, BIG TIMBER, MONTANA

10/07/2013

01/17/2014

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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