Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending February 15, 2014

Type Application Ending date of
comment period

* 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: 02/24/2014

Federal Register: 02/27/2014

CIC

Retroactive change in control notice by the Gordon H. Hoffner 2011 Irrevocable Family Trust, Hazen, North Dakota (the "Trust") and Wayne G. Hoffner, Hazen, North Dakota, individually, and as trustee of the Trust, to retain control of 25% or more of the shares of Union Holding Company, Halliday, North Dakota ("Union"), and thereby indirectly control The Union Bank, Beulah, North Dakota ("Bank"). In addition, Lynette Janelle Bjornson, Mandan, North Dakota, is filing retroactively to retain shares of Union and thereby join the Hoffner family shareholder group that controls 25% or more of Union.

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

777254

FARMERS ST BK OF WEST CONCORD, WEST CONCORD, MINNESOTA

10/28/2013

02/07/2014

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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