District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending December 26, 2015
| Type | Application | Ending date of comment period |
|---|---|---|
|
* 3A3 |
First Bancshares Corporation, Gladstone, Michigan, to acquire 100 percent of Northern Michigan Bank & Trust, Escanaba, Michigan.
|
Newspaper: 01/10/2016 Federal Register: 01/14/2016 |
| CIC | Brooks F. Burgum, Fargo, North Dakota, individually, and as a trustee of the Frederick W. Burgum-Katherine J. Burgum 2008 FFC GRAT (Burgum GRAT), Fargo, North Dakota, to retain 25 percent or more of the shares of First Financial Corporation, Arthur, North Dakota. In addition, Burgum GRAT; Frederick W. Burgum, Arthur, North Dakota; and Katherine B. Itterman, Fargo, North Dakota, as members of the Burgum family control group, to retain 25 percent or more of the shares of First Financial Corporation, Arthur, North Dakota, and thereby indirectly retain control of First State Bank of North Dakota, Arthur, North Dakota. |
Newspaper: Not available Federal Register: 12/28/2015 |
| CIC | Retroactive change in control notice by Richard Pedersen, Everett, Washington, to retain control of 25 percent or more of the shares of Flathead Lake Bancorporation,Inc., Polson, Montana, and thereby indirectly retain control of First Citizens Bank of Polson, National Association, Polson, Montana. |
Newspaper: Not available Federal Register: 01/13/2016 |
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 |
|---|---|---|---|---|---|
|
642857 |
FIRST CMNTY BK, GLASGOW, MONTANA |
09/29/2014 |
12/14/2015 |
S |
Small Bank |
CRA examinations scheduled for Quarter of
| Institution | Location |
|---|---|
|
NONE |
|
* Subject to the provisions of the Community Reinvestment Act