District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending September 11, 2021
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| FARIBAULT BANCSHARES, INC. | CIC | John R. Carlander, Faribault, Minnesota, through individual ownership, as personal representative of an estate, and as co-trustee of two trusts, to retain voting shares of Faribault Bancshares, Inc., Faribault, Minnesota (Faribault Bancshares), and thereby indirectly retain voting shares of State Bank of Faribault, Faribault, Minnesota (Bank). Additionally, the Estate of Richard Carlander, Faribault, Minnesota (personal representative John R. Carlander); Chad R. Koepke, Lakeville, Minnesota; Madelyn L. Carlander, Prior Lake, Minnesota; John R. Carlander 1997 Trust, Faribault, Minnesota (co- trustees John R. Carlander and Madelyn L. Carlander); Kimberly A. Koepke 1997 Trust, Lakeville, Minnesota (co-trustees Kimberly A. Koepke, Lakeville, Minnesota and Chad R. Koepke); and Matthew C. Carlander 1997 Trust, Faribault, Minnesota (co- trustees Matthew C. Carlander, Faribault, Minnesota and John R. Carlander) to retain voting shares of Faribault Bancshares, and join the Carlander/Koepke Family Control Group, a group acting in concert, and thereby indirectly acquire voting shares of Bank. | Newspaper: Not available Federal Register: Not available |
| FIRST STATE BANK SOUTHWEST | * Branch | First State Bank Southwest, Pipestone, Minnesota, to establish a branch at the northeast corner of the intersection of East 57th Street and South Graystone Avenue, Sioux Falls, South Dakota. | Newspaper: Not available Federal Register: Not applicable |
| FIRST WESTERN BANK AND TRUST | * Branch | First Western Bank & Trust, Minot, North Dakota, to establish a branch at 320 S Phillip Ave, Suite 201, Sioux Falls, South Dakota 57104. | Newspaper: Not available Federal Register: Not applicable |
| 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: 09/20/2021 Federal Register: 09/14/2021 |
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 |
|---|---|---|---|---|---|
| NONE | |||||
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 |
|---|---|---|
| NONE | ||
* Subject to the provisions of the Community Reinvestment Act