District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending April 1, 2017
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
ALERUS FINANCIAL CORPORATION | CIC | Notice by Alerus Financial Employee Stock Ownership Plan, Grand Forks, North Dakota to increase its ownership to 10% or more of Alerus Financial Corporation, Grand Forks, North Dakota, and indirectly Alerus Financial, National Association, Grand Forks, North Dakota. | Newspaper: Not available Federal Register: 03/20/2017 |
FRANDSEN BANK & TRUST | * Branch | Frandsen Bank and Trust, Lonsdale, Minnesota to establish a branch facility to be located at 404 West Superior Street, Suite 210, Duluth, Minnesota. | Newspaper: 03/28/2017 Federal Register: Not applicable |
LEACKCO BANK HOLDING COMPANY, INC. | CIC | Change in Control Notice by Jeffory A. Erickson, Sioux Falls, South Dakota to retain and acquire 25 percent or more of the shares of Leackco Bank Holding Company, Inc., Wolsey, South Dakota, and thereby indirectly gain control of American Bank and Trust, Wessington Springs, South Dakota. | Newspaper: 03/08/2017 Federal Register: 03/13/2017 |
PLAINVIEW BANKSHARES, INC. | CIC | Change in control notice by Cassie Harrington, individually and as co-trustee of Foresight Bank Employee Stock Ownership Plan (ESOP), both of Plainview, Minnesota, to retain control of Plainview Bankshares, Inc., Plainview, Minnesota (PBI), and thereby indirectly retain control of Foresight Bank, Plainview, Minnesota. In addition, the following persons are filing to retain shares of PBI and thus remain members of the Harrington Family Shareholder Group, a group acting in concert, which controls 25% or more of PBI: Sally Harrington, Plainview, Minnesota; Amanda Raines; Issaquah, Washington; Daniel Broome-Raines, Issaquah, Washington; Anton Harrington, Plainview, Minnesota; Julia Harrington, Elgin, Minnesota; Mitchell Harrington, Plainview, Minnesota; Abigail Harrington, Plainview, Minnesota; Nathan Harrington, Plainview, Minnesota; David Harrington, Plainview, Minnesota; Beatrice Harrington, Plainview, Minnesota; Molly Harrington, St. Paul, Minnesota; Ryan Harrington, Lommatzsch, Saxony, Germany; the Harrington Living Trust and Van Harrington, trustee, both of Maiden Rock, Wisconsin; William Harrington, individually and as co-trustee of ESOP, Elgin, Minnesota; Community Presbyterian Church and Kent Harrington as session member, both of Plainview, Minnesota. | Newspaper: 04/14/2017 Federal Register: 04/21/2017 |
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 ID | Exam date | CRA public date | CRA rating | Exam method |
---|---|---|---|---|---|
CORNERSTONE ST BK, LE SUEUR, MINNESOTA | 914853 | 05/28/2002 | 11/26/2002 | S | Small Bank |
CRA Examinations scheduled for Quarter of
Institution | Location | ||||
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NONE |
* Subject to the provisions of the Community Reinvestment Act