District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending March 31, 2018
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
CHOICE FINANCIAL HOLDINGS, INC. | * 3A3 | Choice Financial Holdings, Inc., Fargo, North Dakota, to acquire 100 percent of Venture Bank, Bloomington, Minnesota. | Newspaper: Not available Federal Register: 04/23/2018 |
META FINANCIAL GROUP, INC. | 4c8 SLHC Activity * SLHC Formation * 4c8 * 3A1 |
Meta Financial Group, Inc., Sioux Falls, South Dakota, a savings and loan holding company, to become a bank holding company by merging with Crestmark Bancorp, Inc., and thereby indirectly acquiring its subsidiary bank, Crestmark Bank, both of Troy, Michigan. In connection, Meta Financial Group, Inc., will retain ownership of its savings association subsidiary, MetaBank, Sioux Falls, South Dakota, for the time that it is a bank holding company and thereby engage in operating a savings association. In addition, Meta Financial Group, Inc., through MetaBank proposes to purchase 80 percent of the stock of each of the following CM Sterling, LLC; Capital Equipment Solutions, LLC; CM Help, LLC; CM Southgate, LLC; and CM TFS LLC, all of Troy Michigan (Crestmark Bank Subsidiaries) and thereby engage in lending activities. Finally, Meta Financial Group, Inc. will convert back to a savings and loan holding company after the merger of Crestmark Bank with and into MetaBank. In conjunction with its filing to convert back to a savings and loan holding company, Meta Financial Group, Inc. is filing pursuant to 12 CFR 238.54 for authority to engage in lending activity through its indirect acquisition of the Crestmark Bank Subsidiaries. | Newspaper: Not available Federal Register: 04/23/2018 |
VIKING FINANCIAL CORPORATION | * 4c8 * 3A1 |
Viking Financial Corporation, Alexandria, Minnesota, a savings and loan holding company, to become a bank holding company by acquiring 100% of First State Bank of Ashby, Ashby, Minnesota. In connection Viking Financial Corporation will retain ownership of its savings association subsidiary, Viking Bank, Alexandria, Minnesota and thereby engage in operating a savings association. | 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 |
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NONE |
CRA Examinations scheduled for Quarter of
Institution | Location | Quarter |
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NONE |
* Subject to the provisions of the Community Reinvestment Act