District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending May 23, 2020
Filer | Filing Type | Filing Proposal | End of comment period |
---|---|---|---|
CITIZENS BANK HOLDING COMPANY | CIC | Notice by Susan Sayer, Grand Forks, North Dakota, to retain voting shares of Citizens Bank Holding Company, Finley, North Dakota ("Citizens BHC"). Citizens BHC controls Citizens State Bank of Finley, Finley, North Dakota. | Newspaper: Not available Federal Register: 05/28/2020 |
KRAUSE FINANCIAL, INC. | CIC | Retroactive notice by the Bank Holding Company Stock Trust Agreement of Steven R. Krause and Rebecca R. Krause and its trustees Steven R. Krause and Rebecca R. Krause, all of Winnebago, Minnesota; Erin Church, Canistota, South Dakota; Andrew Krause, Winnebago, Minnesota; and Emily Sebesta, Willmar, Minnesota, to retain shares of Krause Financial, Inc., Winnebago, Minnesota (KFI), and thereby join the Krause family shareholder group. KFI controls First Financial Bank in Winnebago, Winnebago, Minnesota. | Newspaper: Not available Federal Register: 06/11/2020 |
WESTBRAND, INC. | CIC | John Hoeven, IV, Bismarck, North Dakota; Marcela Samson, Minot, North Dakota; Marcela Samson and Jack Hoeven Irrevocable Trust, Bismarck, North Dakota, First Western Bank & Trust, Minot, North Dakota, trustee; Matthew John Elder, Minot, North Dakota; Alesha M. Bailey, Lakeland, Georgia; Adam Duffis, Long Beach, California; and Austin James Duffis, Huntington Beach, California; as members of the Hoeven Family Shareholder Group acting in concert to retain voting shares of Westbrand, Inc., and thereby indirectly retain voting shares of First Western Bank & Trust, both of Minot, North Dakota and BlackRidgeBANK, Fargo, North Dakota. | Newspaper: 05/29/2020 Federal Register: 05/28/2020 |
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 |
---|---|---|
DACOTAH BK | ABERDEEN, SOUTH DAKOTA | Third Quarter of 2020 |
FIRST BK BALDWIN | BALDWIN, WISCONSIN | Third Quarter of 2020 |
NORTHWESTERN BK | CHIPPEWA FALLS, WISCONSIN | Third Quarter of 2020 |
STATE SVG BK OF MANISTIQUE | MANISTIQUE, MICHIGAN | Third Quarter of 2020 |
WADENA ST BK | WADENA, MINNESOTA | Third Quarter of 2020 |
SECURITY FNCL BK | DURAND, WISCONSIN | Fourth Quarter of 2020 |
* Subject to the provisions of the Community Reinvestment Act