District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending February 24, 2018
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| EQUITY BANK HOLDING COMPANY, INC. | CIC | Change in Control Notice by Todd Tyrell Ellestad, Andover, Minnesota, to acquire 100 percent of the shares of Equity Bank Holding Company, Inc., Minnetonka, Minnesota, and thereby indirectly controls Equity Bank, Minnetonka, Minnesota. | Newspaper: 03/08/2018 Federal Register: 03/12/2018 |
| MACKINAC FINANCIAL CORPORATION | * 4c8 | Mackinac Financial Corporation, Manistique, Michigan, with its wholly owned subsidiary, MFNC Acquisition, LLC, Manistique, Michigan, to acquire 100 percent of shares of First Federal of Northern Michigan Bancorp, Inc., Alpena, Michigan, and thereby indirectly acquire First Federal of Northern Michigan, Alpena, Michigan. | Newspaper: Not available Federal Register: 03/23/2018 |
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 Quarter of
| Institution | Location | Quarter |
|---|---|---|
| DAKOTA WESTERN BK | BOWMAN, NORTH DAKOTA | Second Quarter of 2018 |
| FRANDSEN B&T | LONSDALE, MINNESOTA | Second Quarter of 2018 |
| HEARTLAND ST BK | EDGELEY, NORTH DAKOTA | Second Quarter of 2018 |
| STATE BK FNCL | LA CROSSE, WISCONSIN | Second Quarter of 2018 |
* Subject to the provisions of the Community Reinvestment Act