District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending May 28, 2016
| Type | Application | Ending date of comment period |
|---|---|---|
| CIC | Change in Control Notice by Leslie Ann Bebee, Wakefield, Nebraska, to acquire 25 percent or more of the shares of Citizens Bank Group, Inc., Saint James, Minnesota, and thereby indirectly gain control of Pioneer Bank, Mapleton, Minnesota. |
Newspaper: 05/25/2016 Federal Register: 05/23/2016 |
| CIC | Duane Bowman, Bowman, North Dakota, intends to apply to the Federal Reserve Board for permission to retain shares of Dakota Western Bankshares, Inc., Bowman, North Dakota ("Dakota Western Bankshares"), and thereby join the group comprised of Susan Berglund, Bowman, North Dakota, Roger Berglund, Bowman, North Dakota, Gwenn Jones, Bowman, North Dakota, Wendy Jorgenson, Bismarck North Dakota, and Bruce Bowman, Rhame, North Dakota, that controls more than 25% of Dakota Western Bankshares. |
Newspaper: Not available Federal Register: Not available |
| * 18C *Branch * 3A3 |
First Interstate BancSystem, Inc., Billings, Montana, to acquire 100% of Flathead Bank of Bigfork, Bigfork, Montana. In addition, First Interstate Bank, Billings, Montana, to merge with Flathead Bank of Bigfork, Bigfork, Montana, and incident thereto, establish a branch. |
Newspaper: Not applicable Federal Register: 05/24/2016 |
| * 3A5 | Flagship Financial Group, Inc., Eden Prairie, Minnesota, to merge with Landmark Investor Group, Inc., Eden Prairie, Minnesota, and thereby indirectly acquire Landmark Community Bank, Isanti, Minnesota. |
Newspaper: Not available Federal Register: Not available |
| CIC | The Philip Ray Forstrom 2012 Irrevocable Trust [SLAT-1] under agreement dated December 6, 2012, Henderson, Nevada; Marsha Ann Forstrom, Henderson, Nevada, as co-trustee and individually, and Perry Forstrom, Henderson, Nevada, co-trustee; and the Marsha Ann Forstrom 2012 Irrevocable Trust [SLAT-1] under agreement dated December 26, 2012, Henderson, Nevada, Philip R. Forstrom, Henderson, Nevada, and John Forstrom, Independence, Minnesota, co-trustees, to retain voting shares of Forstrom Bancorporation, Inc., Clara City, Minnesota, and thereby join the Forstrom family shareholder group, which controls 100% of Forstrom Bancorporation, Inc. and thereby indirectly controls Citizens Alliance Bank, Clara City, Minnesota, and First Bank of Lincoln, Lincoln, Montana. |
Newspaper: 05/31/2016 Federal Register: 04/28/2016 |
| * 3A3 | J&B Financial Holdings, Inc., Minneapolis, to acquire 100 percent of 1st United Bank, Faribault, Minnesota. |
Newspaper: Not available Federal Register: 06/09/2016 |
| * 3A3 | Peoples Equity Corporation, Wells, Minnesota, to acquire 100 percent of Paragon Bank, Wells, Minnesota. |
Newspaper: Not available Federal Register: 06/06/2016 |
| * MHC Merger |
TCB Mutual Holding Company, Tomahawk, Wisconsin ("TCB Mutual"), and its wholly-owned SLHC subsidiary, TCB Financial, Inc., Tomahawk, Wisconsin ("TCB Financial"), propose to indirectly acquire Merrill Federal Savings & Loan Association, Merrill, Wisconsin ("Merrill"), a mutual institution, through the merger of Merrill with and into Tomahawk Community Bank S.S.B., Tomahawk, Wisconsin, a wholly-owned subsidiary of TCB Mutual and TCB Financial. |
Newspaper: Not available Federal Register: Not applicable |
| CIC | Change in Control Notice by Mark Saliterman, Minnetonka, Minnesota, Julianne Samuelson, Chanhassen, Minnesota, Michael Morton, Minnetonka, Minnesota, Lorilee Wright, Shorewood, Minnesota, to acquire 25 percent or more of the shares of Vision Bancshares, Inc., Saint Louis Park, Minnesota, and thereby indirectly gain control of Vision Bank, Saint Louis Park, Minnesota. |
Newspaper: 06/15/2016 Federal Register: 05/23/2016 |
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 |
|---|---|---|---|---|---|
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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