District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending March 21, 2015
Type | Application | Ending date of comment period |
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* 3A1 |
Beartooth Financial Corporation, Billings, Montana, to become a bank holding company by acquiring 100 percent of Beartooth Bank, Billings, Montana.
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Newspaper: 04/04/2015 Federal Register: 04/13/2015 |
CIC |
J. Scott Nelson, Redwood Falls MN, individually and as a trustee of the HomeTown Bank Employee Stock Ownership Plan, Redwood Falls MN (ESOP), to acquire and retain 10 percent or more of the shares and thereby control of Redwood Financial, Inc., Redwood Falls, MN (RFI) and thereby indirectly acquire and retain control of Hometown Bank, Redwood Falls, MN. In addition, J. Scott Nelson; John Nelson, Redwood Falls, MN; Sarah Hoyt, St Paul MN; and ESOP to acquire and retain 10 percent or more of the shares of RFI, and thereby indirectly acquire and retain control of Hometown Bank, Redwood Falls, MN, as members of the Nelson family shareholder group acting in concert. ESOP trustees are J. Scott Nelson, James Tersteeg, and Thomas Stotesbery, each of Redwood Falls, MN.
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Newspaper: Not available Federal Register: 04/08/2015 |
* 18C |
Valley Bank of Ronan, Ronan, Montana, to merge with Lake County Bank, Saint Ignatius, Montana, and incident thereto, establish a branch.
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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 |
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NONE |
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CRA examinations scheduled for Quarter of
Institution | Location |
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NONE |
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* Subject to the provisions of the Community Reinvestment Act