District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending January 7, 2017
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
ADAMS BANCSHARES, INC. | CIC | Change in Control Notice by Timothy Schneider, individually and as trustee of the Timothy Schneider Irrevocable Trust (the Trust), both of Adams, Minnesota to acquire control of 25 percent or more of Adams Banchsares, Inc., Adams, Minnesota (Adams). In addition, the Trust is filing to acquire control of Adams shares as part of the Schneider family shareholder group, and thereby indirectly acquire control of United Farmers State Bank, Adams, Minnesota. | Newspaper: Not available Federal Register: 01/24/2017 |
HERITAGE BANCSHARES GROUP, INC. | CIC | The Jane Salland Trust dated December 16, 2015, Jane Salland and Andrea Falconieri, trustees, and Andrea Falconieri, individually, all of Denver, Colorado, to acquire voting shares of Heritage Bancshares Group, Inc., Spicer, Minnesota (HBGI), and thereby join the Geiger family shareholder group, which controls 25% or more of HBGI and thus indirectly controls Heritage Bank, National Association, Spicer, Minnesota. | Newspaper: Not available Federal Register: 1/10/2017 |
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 |
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None |
CRA Examinations scheduled for Quarter of
Institution | Location |
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NONE |
* Subject to the provisions of the Community Reinvestment Act