District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending May 16, 2015
| Type | Application | Ending date of comment period |
|---|---|---|
|
CIC |
Christian David Heitzman, Minneapolis, Minnesota, to retain 25 percent or more of the shares of First BancShares, Inc., of Cold Spring, Cold Spring, Minnesota, and thereby indirectly retain control of Granite Community Bank, Cold Spring, Minnesota.
|
Newspaper: Not available Federal Register: 04/30/2015 |
|
* 18C |
First Interstate Bank, Billings, Montana, to merge with United Bank, Absarokee, Montana, and incident thereto, establish a branch.
|
Newspaper: Not available Federal Register: Not applicable |
|
CIC |
Change in Control notice by The Dennis Frandsen 2014 Children's Trust, North Branch, MN; and Marcia Wegleitner, Tower, MN, individually and as trustee, to retain 25% or more of Frandsen Financial Corporation, Arden Hills, MN, and thereby indirectly retain control of Frandsen Bank & Trust, Lonsdale, MN. The Dennis Frandsen 2014 Grandchildren's Trust, North Branch, MN, also intends to apply to join the group acting in concert with Marcia Wegleitner, as trustee, and The Dennis Frandsen 2014 Children's Trust. In addition, Gregory and Julie Frandsen, North Oaks, MN; Nick Frandsen, North Oaks, MN; Holly Frandsen, North Oaks, MN; and Paige Frandsen, North Oaks, MN, filed to join the Dennis Frandsen Family Group, which owns 25% or more of the shares of Frandsen Financial Corporation.
|
Newspaper: 05/20/2015 Federal Register: 05/27/2015 |
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 |
|---|---|---|---|---|---|
|
NONE |
|
|
|
|
|
CRA examinations scheduled for Quarter of
| Institution | Location |
|---|---|
|
NONE |
|
* Subject to the provisions of the Community Reinvestment Act