District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending September 3, 2016
| Type | Application | Ending date of comment period |
|---|---|---|
| *Branch | First Western Bank & Trust, Minot, North Dakota to establish a branch facility to be located at 324 North 3rd Street, Bismarck, North Dakota. |
Newspaper: 09/04/2016 Federal Register: Not available |
| CIC | David Ryan Feriancek, Saint Joseph, Minnesota, as a trustee of the Stearns Financial Services, Inc., Employee Stock Ownership Plan and Trust, Saint Cloud, Minnesota, (ESOP), to acquire control of the ESOP, and thereby indirectly gain control of Stearns Financial Services, Inc., Saint Cloud, Minnesota (Stearns). Stearns controls Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala National Association, Upsala, Minnesota, and Stearns Bank of Holdingford National Association, Holdingford, Minnesota. |
Newspaper: 09/03/2016 Federal Register: 08/30/2016 |
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 institutionn’s application for deposit facilities.
A copy of an institutionn’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 Quarter of
| Institution | Location |
|---|---|
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NONE |
* Subject to the provisions of the Community Reinvestment Act