District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending June 6, 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, which controls 25% or more of the shares of KFI. KFI controls First Financial Bank in Winnebago, Winnebago, Minnesota. | Newspaper: Not available Federal Register: 06/11/2020 |
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 | |||
|---|---|---|---|---|---|
| NONE | |||||
* Subject to the provisions of the Community Reinvestment Act