District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending April 11, 2020
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
DACOTAH BANK | * 18C * Branch |
Dacotah Bank, Aberdeen, South Dakota, to merge with First State Bank of Claremont, Groton, South Dakota, and incident thereto, establish branches. | Newspaper: Not available Federal Register: Not applicable |
KODA BANCOR, INC. | * 3A3 | Koda Bancor, Inc., Drayton, North Dakota, to acquire 100 percent of Wall Street Holding Company and thereby indirectly acquire Bank of Hamilton, both of Hamilton, North Dakota. | Newspaper: Not available Federal Register: Not available |
STEARNS FINANCIAL SERVICES, INC. EMPLOYEE STOCK OWNERSHIP PLAN | * 3A3 | Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota, to acquire additional stock and increase its ownership interest up to 20.66% of Stearns Financial Services, Inc., Saint Cloud, Minnesota, and thereby indirectly increase its control of Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala, National Association, Upsala, Minnesota, and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota. | Newspaper: Not available Federal Register: 04/29/2020 |
WAUMANDEE BANCSHARES, LTD. | * 3A3 | Waumandee Bancshares, Ltd., Waumandee, Wisconsin to acquire 100 percent of the voting shares of Union Bank of Blair, Blair, 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 |
---|---|---|---|---|---|
NONE |
CRA Examinations scheduled
Institution | Location | Quarter | |||
---|---|---|---|---|---|
NONE |
* Subject to the provisions of the Community Reinvestment Act