District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending May 18, 2019
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| DRAPER HOLDING COMPANY, INC. | CIC | Notice by Stephen K. Hayes, Presho, South Dakota, individually and as trustee of the Margery I. Hayes Trust, Fort Pierre, South Dakota, to retain control of more than 25 percent of Draper Holding Company, Inc., Fort Pierre, South Dakota, and thereby indirectly retain control of Dakota Prairie Bank, Fort Pierre, South Dakota. Additionally, Stephen K. Hayes, Margery I. Hayes Trust, Mary A. Dott, Sioux Falls, South Dakota, and JoAnne M. Wingert, Benton City, Washington, as a group acting in concert, to retain control of 25 percent or more of Draper Holding Company, Inc., and thereby indirectly retain control of Dakota Prairie Bank, Fort Pierre, South Dakota. | Newspaper: Not available Federal Register: 05/28/2019 |
| FINANCIAL SERVICES OF LOWRY, INC. | * 3A3 | Financial Services of Lowry, Inc., Lowry, Minnesota to acquire 100 percent of the voting shares of The First National Bank of Osakis, Osakis, Minnesota. | Newspaper: Not available Federal Register: Not available |
| FIRST MONTANA BANK, INC. | * Branch | First Montana Bank Inc., Missoula, Montana, to establish a branch facility located at 1135 Euclid Avenue, Helena, Montana. | Newspaper: 05/20/2019 Federal Register: Not applicable |
| KRAUSE FINANCIAL, INC. | CIC | Lana Krause, Winnebago, Minnesota, to retain voting shares of Krause Financial, Inc., Winnebago, Minnesota (Company), and thereby indirectly retain shares of First Financial Bank in Winnebago, Winnebago, Minnesota (Bank). Also, Amanda Hair, Sioux Falls, South Dakota, to join the Krause family shareholder group acting in concert, by retaining voting shares of Company and thereby indirectly retaining shares of Bank. | Newspaper: 05/25/2019 Federal Register: 05/21/2019 |
| MERCHANTS FINANCIAL GROUP, INC. | * 3A3 | Merchants Financial Group, Inc., Winona, MN, to acquire 100 percent of the stock of The First National Bank of Northfield, Northfield, Minnesota. | Newspaper: Not available Federal Register: Not available |
| META FINANCIAL GROUP, INC. | * 3A1 | Meta Financial Group, Inc., Sioux Falls, South Dakota, to become a bank holding company as a result of the proposed conversion of its federal savings bank subsidiary, MetaBank, Sioux Falls, South Dakota, into a national bank to be named MetaBank, National Association. | Newspaper: 06/17/2019 Federal Register: Not available |
| WALSH FINANCIAL, INC. | * 3A1 | Walsh Financial, Inc., Minneapolis, Minnesota, to become a bank holding company by acquiring 100 percent of The First National Bank of Buhl, Mountain Iron, Minnesota. | Newspaper: 05/12/2019 Federal Register: 05/13/2019 |
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
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||
* Subject to the provisions of the Community Reinvestment Act