District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending October 29, 2016
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| BIG MUDDY BANCORP, INC. | * 3A3 | Big Muddy Bancorp, Inc., Dutton, Montana, to acquire 100 percent of S.B.T. Financial, Inc., Townsend, Montana, and thereby indirectly acquire The State Bank of Townsend, Townsend, Montana. | Newspaper: 11/05/2016 Federal Register: 11/11/2016 |
| CITIZENS STATE BANK OF ARLINGTON | CIC | Change in Control Notice by John R. Rice, Brookings, South Dakota, and Mary D. Rice, Boston, Massachusetts, individually and as a group acting concert, to retain 25 percent or more of the shares of Citizens State Bank of Arlington, Arlington, South Dakota. | Newspaper: Not available Federal Register: 10/18/2016 |
| KANDIYOHI BANCSHARES, INC. | CIC | Change in Control Notice by Alix E. Behm, Willmar, Minnesota, to acquire 25 percent or more of the shares of Kandiyohi Bancshares, Inc., Willmar, Minnesota, and thereby indirectly gain control of Home State Bank, Litchfield, Minnesota. | Newspaper: Not available Federal Register: 11/07/2016 |
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 method |
|---|---|---|---|---|---|
|
751656 |
FRANDSEN B&T, LONSDALE, MINNESOTA |
04/04/2016 |
10/13/2016 |
S |
Large Bank |
| 259956 | STATE SVG BK OF MANISTIQUE, MANISTIQUE, MICHIGAN | 06/28/2016 | 09/29/2016 | S | Large Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location |
|---|---|
|
NONE |
* Subject to the provisions of the Community Reinvestment Act