District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending December 3, 2016
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| COMMERCIAL HOLDING COMPANY | CIC | Retroactive change in control notice by Michael L. Frei, Wagner, South Dakota, individually and with power to vote the shares held in the Jill M. Frei Trust, to retain control of 25 percent or more of the shares of Commercial Holding Company, Wagner, South Dakota, and thereby indirectly retain control of Commercial State Bank of Wagner, Wagner, South Dakota. | Newspaper: Not available Federal Register: 11/29/2016 |
| HIGGINS BANCORPORATION, INC. | CIC | Change in Control Notice by Michael D. Toombs and Barbara A. Toombs, individually and as trustees of the David H. Toombs Family Trust (the Trust), all of Rosemount, Minnesota, to acquire control of 25 percent or more of Higgins Bancorporation, Inc., Rosemount, Minnesota (Higgins). In addition, the Trust; Michael D. Toombs; Barbara A. Toombs; Gregory J. Toombs, Clear Lake, Wisconsin; James P. Toombs, Rosemount, Minnesota; Mark E. Toombs, Lakeville, Minnesota; Amy M. Murphy, Farmington, Minnesota; and Sarah J. Peterson, Lakeville, Minnesota, to retain or acquire control of Higgins shares as part of the Toombs family shareholder group, and thereby indirectly retain or acquire control of First State Bank of Rosemount, Rosemount, Minnesota. | Newspaper: 12/10/2016 Federal Register: 12/19/2016 |
| NATCOM BANCSHARES,INC. | * 3A3 | NATCOM Bancshares, Inc., Superior, Wisconsin, to acquire 49 percent of the shares of Republic Bancshares, Inc., Duluth, Minnesota, and thereby indirectly acquire Republic Bank, Inc., Duluth, Minnesota. | Newspaper: Not available Federal Register: 12/22/2016 |
| SARGENT BANKSHARES, INC. | * 3A3 | Sargent Bankshares, Inc., Forman, North Dakota, to acquire 100 percent of First National Bank, Milnor, North Dakota. | Newspaper: Not available Federal Register: 12/30/2016 |
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 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.
| Institution/Location | RSSD number | Exam date | CRA public date | CRA rating | Exam method |
|---|---|---|---|---|---|
| FIRST WESTERN B&TC, MINOT, NORTH DAKOTA | 687951 | 07/18/2016 | 11/17/2016 | O | Int Sm Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location |
|---|---|
| NONE | |
* Subject to the provisions of the Community Reinvestment Act