District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending May 20, 2017
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| BANCOMMUNITY SERVICE CORPORATION | CIC | Change in Control Notice by Mark Edward Davis, Saint Peter, Minnesota, Stanley Martin Davis, Plymouth, Minnesota, Martin Edward Davis, Excelsior, Minnesota, Mark Mitchell, Davis, Excelsior, Minnesota, as a group acting in concert, to acquire 10% or more of the shares of Bancommunity Services Corporation, Saint Peter, Minnesota, and thereby indirectly gain control of First National Bank Minnesota, Saint Peter, Minnesota. | Newspaper: Not available Federal Register: Not available |
| ELYSIAN, INC. | CIC | Joel LaFrance, Elysian, Minnesota, to retroactively acquire shares of Elysian Inc., Elysian, Minnesota, and thereby join the group, comprised of Michael LaFrance and Judith LaFrance, both of Elysian, Minnesota, which controls 25% or more of Elysian Inc., Elysian, Minnesota and thereby indirectly controls Elysian Bank, Elysian, Minnesota. | Newspaper: Not available Federal Register: 06/07/2017 |
| 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: 06/01/2017 Federal Register: 05/09/2017 |
| UPTOWN BANCORPORATION, INC. | 4c8 | Uptown Bancorporation, Inc., Britton, South Dakota, proposes to acquire 25% of Performance Data Center, LLC, Pierre, South Dakota, indirectly through First American State Bank, Oldham, South Dakota, and thereby provide data processing services. | Newspaper: Not applicable
Federal Register: Not applicable |
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 |
|---|---|---|---|---|---|
| NONE | |||||
CRA Examinations scheduled for Third Quarter of 2017 (July 1, 2017 - September 30, 2017)
| Institution | Location |
|---|---|
| DACOTAH BK | ABERDEEN, SOUTH DAKOTA |
| FIRST ST BK OF WARNER | WARNER, SOUTH DAKOTA |
| SECURITY FNCL BK | DURAND, WISCONSIN |
* Subject to the provisions of the Community Reinvestment Act