District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending August 21, 2021
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| FINANCIAL SERVICES OF LOWRY, INC. | CIC | The Peter J. Nelson Trust that is in formation - Kari A.M. Nelson, Trustee, both of Glenwood, Minnesota, to acquire shares of Financial Services of Lowry, Inc.("FSLI"), Lowry, Minnesota and thereby join the Nelson-Martinson family shareholder group acting in concert that collectively controls 25% or more of the shares and thereby controls FSLI. FSLI controls Lowry State Bank, Lowry, Minnesota and First National Bank of Osakis, Osakis, Minnesota. | Newspaper: Not available Federal Register: 09/07/2021 |
| MINNESOTA COMMUNITY BANCSHARES, INC. | CIC | Daniel Otten, Hayward, Minnesota, to retain voting shares of Minnesota Community Bancshares, Inc., Albert Lea, Minnesota (MCBI), and thereby indirectly retain voting shares of Arcadian Bank, Hartland, Minnesota (Bank). Additionally, Tony Kermes, Hayward, Minnesota, to acquire voting shares of MCBI, and join the Otten Family Control Group, a group acting in concert, and thereby indirectly acquire voting shares of Bank. | Newspaper: Not available Federal Register: 09/03/2021 |
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 |
|---|---|---|---|---|---|
| SECURITY FNCL BK, DURAND, WISCONSIN | 450959 | 03/29/2021 | 08/16/2021 | O | Int Small Bank |
CRA Examinations scheduled for Fourth Quarter of 2021 (October 1, 2021 - December 31, 2021) and First Quarter of 2022 (January 1, 2022 - March 31, 2022)
| Institution | Location | Quarter |
|---|---|---|
| CITIZENS B&TC | BIG TIMBER, MONTANA | Fourth Quarter of 2021 |
| WELCOME ST BK | WELCOME, MINNESOTA | Fourth Quarter of 2021 |
| CHARTER BK | EAU CLAIRE, WISCONSIN | First Quarter of 2022 |
| FIRST INTRST BK | BILLINGS, MONTANA | First Quarter of 2022 |
| FIRST WESTERN B&TC | MINOT, NORTH DAKOTA | First Quarter of 2022 |
| PROFINIUM | TRUMAN, MINNESOTA | First Quarter of 2022 |
| YELLOWSTONE BK | LAUREL, MONTANA | First Quarter of 2022 |
* Subject to the provisions of the Community Reinvestment Act