Applications Bulletin

District 9
Federal Reserve Bank of Minneapolis

Instructions for commenting on applications

Filings received during the week ending August 6, 2016

Type Application Ending date of
comment period
* 3A3 American Heritage Holding Company, Saint Cloud, Minnesota, to acquire 100 percent of Avon Bancshares, Inc. Avon, Minnesota, and thereby indirectly acquire Avon State Bank, Avon, Minnesota.  

Newspaper: Not available

Federal Register: Not available

* 3A3 The Bridger Company, Bridger, Montana, proposes to acquire 100 percent of the voting shares of Montana State Bank, Plentywood, Montana.  

Newspaper: 08/13/2016

Federal Register: 08/22/2016

CIC Change in Control Notice by Theresa Dawley, Richfield, Minnesota, Kathryn Appold, Burnsville, Minnesota, and Delbert Dawley, Shakopee, Minnesota, as a group acting in concert, to retain and to acquire 25% or more of the shares of Munich Bancshares, Inc., Munich, North Dakota, and indirectly retain control of Horizon Financial Bank, Munich, North Dakota.  

Newspaper: Not available

Federal Register: 08/18/2016

* 3A5 Northern Interstate Financial, Inc., Norway, Michigan, to merge with C.F.C. Bancorp, Inc., Crystal Falls, Michigan, and thereby indirectly acquire First National Bank of Crystal Falls, Crystal Falls, Michigan.  

Newspaper: Not available

Federal Register: 09/02/2016

CIC David Ryan Feriancek, Saint Joseph, Minnesota, as a trustee of the Stearns Financial Services, Inc., Employee Stock Ownership Plan and Trust, Saint Cloud, Minnesota, (ESOP), to acquire control of the ESOP, and thereby indirectly gain control of Stearns Financial Services, Inc., Saint Cloud, Minnesota (Stearns). Stearns controls 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: Not available

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







CRA examinations scheduled for  Quarter of

Institution Location



* Subject to the provisions of the Community Reinvestment Act