District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending September 12, 2015
| Type | Application | Ending date of comment period |
|---|---|---|
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CIC |
Lee H. Pell, Saint Peter, Minnesota, individually and as co-trustee of the William C. Pell Testamentary Trust, Saint Peter, Minnesota, ("William Pell Trust"), to retain 10 percent or more of the shares of BanCommunity Service Corporation, Saint Peter, Minnesota. In addition, William Pell Trust, its other co-trustees Shari L. Brostrom, Kasota, Minnesota, and W. Benjamin Pell,Saint Peter, Minnesota, James Brostrom, Kasota, Minnesota, Matthew Brostrom, Saint Peter, Minnesota, Pell, Inc., Saint Peter, Minnesota, Brittany A. Pell, Saint Peter, Minnesota, Joanna L. Pell, Saint Peter, Minnesota; Kristina L. Pell, Minneapolis, Minnesota, the Sandra S. Pell Irrevocable Trust, Saint Peter, Minnesota, its trustee Paul H. Tanis, Jr., Saint Peter, Minnesota, Linda M. Pell, Saint Peter, Minnesota, Lola Grace Pell, Saint Peter, Minnesota, Samantha T. Pell, Saint Peter, Minnesota, Sandra S. Pell, Saint Peter, Minnesota, and Thomas C. Pell, Saint Peter, Minnesota, as a group acting in concert, to retain 10 percent or more of the shares and BanCommunity Service Corporation, Saint Peter Minnesota, and thereby retain control of First National Bank Minnesota, Saint Peter, Minnesota.
|
Newspaper: Not available Federal Register: Not available |
| 4c8 | Otto Bremer Foundation, and Bremer Financial Corporation, both of Saint Paul, Minnesota, through Bremer Insurance Agencies, Inc., a Minnesota Corporation wholly-owned by Bremer Financial Corporation to acquire the insurance agency business of Pendle-Hansen-Bagne, Inc., Rochester, Minnesota. |
Newspaper: Not applicable Federal Register: Not applicable |
| CIC | Marian Dahlgren, and Lee Dahlgren, both of Vergas, Minnesota, individually to acquire 25% or more of the shares of Vergas Bancorporation, Inc., Vergas, Minnesota. In addition, the Marian Dahlgren Trust, Vergas, Minnesota (co-trustees Greg Dahlgren, and Lee Dahlgren, both of Vergas, Minnesota), to acquire Vergas Bancorp shares and join the Dahlgren Family group that controls 25% or more of Vergas Bancorp, Vergas Minnesota, and thereby indirectly gain control of Vergas State Bank, Vergas, 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 |
|---|---|---|---|---|---|
|
NONE |
|
|
CRA examinations scheduled for Quarter of
| Institution | Location |
|---|---|
|
NONE |
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* Subject to the provisions of the Community Reinvestment Act