District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending April 29, 2017
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
FIRST FINANCIAL CORPORATION | *3A3 | First Financial Corporation, Arthur, North Dakota, to acquire 100 percent of First State Bank of Warner, Warner, South Dakota. | Newspaper: Not available Federal Register: 05/22/2017 |
FRANKSON INVESTMENT CORPORATION | CIC | Change in Control Notice by James Richard Sankovitz, Chaska, Minnesota, individually and as trustee of the Irrevocable Trust Agreement for the Benefit of Katherine M. Buland ("Buland Trust") to acquire 10 percent or more of the shares of Frankson Investment Corporation, Waseca, Minnesota ("Frankson"), and thereby indirectly gain control of The First National Bank of Waseca, Waseca, Minnesota ("Bank"). In addition the Buland Trust (trustees James Sankovitz, Thomas Sankovitz, and Ann Gaytko), Waseca, Minnesota, and Bernard Gaytko, Waseca, Minnesota, to acquire/retain shares of Frankson and thereby join the Sankovitz family shareholder group, which controls Frankson and thus indirectly controls Bank. | Newspaper: Not available Federal Register: 05/09/2017 |
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 |
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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