District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending February 20, 2016
| Type | Application | Ending date of comment period |
|---|---|---|
| * 3A3 | Mackinac Financial Corporation, Manistique, Michigan, to acquire 100 percent of The First National Bank of Eagle River, Eagle River, Wisconsin. |
Newspaper: Not available Federal Register: 03/11/2016 |
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 |
|---|---|---|---|---|---|
|
NONE |
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CRA examinations scheduled for Second Quarter of 2016 (April 1, 2016 - June 30, 2016)
| Institution | Location |
|---|---|
|
FIRST INTRST BK |
BILLINGS, MONTANA |
|
FIRST ST BK OF MALTA |
MALTA, MONTANA |
|
FRANDSEN B&T |
LONSDALE, MINNESOTA |
|
MONTANA ST BK |
PLENTYWOOD, MONTANA |
|
STATE SVG BK OF MANISTIQUE |
MANISTIQUE, MICHIGAN |
|
WADENA ST BK |
WADENA, MINNESOTA |
* Subject to the provisions of the Community Reinvestment Act