District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending July 22, 2017
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
MACKINAC NATIONAL BANCORP, INC. | * 3A1 | Mackinac National Bancorp, Inc., Saint Ignace, Michigan, to become a bank holding company by acquiring 100 percent of First National Bank of Saint Ignace, Saint Ignace, Michigan. | Newspaper: 08/14/2017 Federal Register: 08/10/2017 |
ONE CORPORATION | CIC | Scott H. Soderberg, Eden Prairie, Minnesota, individually and as trustee of the Elizabeth Ann Soderberg Irrevocable Trust dated 12/20/12, New Richmond, Wisconsin, and Elizabeth A. Soderberg, Minnetonka, Minnesota, individually and as trustee of the Scott H. Soderberg Irrevocable Trust dated 12/20/12, New Richmond, Wisconsin, to acquire shares of One Corporation and thereby indirectly acquire control of First National Community Bank, both of New Richmond, Wisconsin. | Newspaper: Not available Federal Register: Not available |
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 |
---|---|---|---|---|---|
NORTHWESTERN BK, CHIPPEWA FALLS, WISCONSIN | 153054 | 02/13/2017 | 07/05/2017 | O | Int Sm Bank |
CRA Examinations scheduled for Quarter of
Institution | Location |
---|---|
NONE |
* Subject to the provisions of the Community Reinvestment Act