District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending February 12, 2022
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| Luminate Capital Corporation | 3A1 | Luminate Capital Corp. to become a bank holding company by acquiring American Equity Bank, both of Minnetonka, Minnesota. | Newspaper: Not applicable Federal Register: Not applicable |
| MINNESOTA COMMUNITY BANCSHARES, INC | CIC | Daniel Otten, Hayward, Minnesota, to acquire voting shares of Minnesota Community Bancshares, Inc., Albert Lea, Minnesota (MCBI), and thereby indirectly acquire voting shares of Arcadian Bank, Hartland, Minnesota (Bank). Daniel M. Otten Revocable Trust, Daniel Otten and Kim Otten as trustees, all of Hayward, Minnesota; Magdalene E. Otten Revocable Trust, Wisner, Nebraska, Magdalene Otten, Wisner, Nebraska, and Daniel Otten as trustees; and Kim M. Otten Revocable Trust, Daniel Otten and Kim Otten as trustees, all of Hayward, Minnesota; to become members of the Otten Family Control Group, a group acting in concert, to acquire voting shares of MCBI, and thereby indirectly acquire voting shares of Bank. | Newspaper: Not available Federal Register: Not available |
| PLATINUM BANCORP, INC. | CIC | Notice of Change in Control for the shareholders of Platinum Bancorp, Inc., the parent company of Platinum Bank, both of Oakdale, Minnesota. | Newspaper: Not available Federal Register: Not available |
| SECURITY BANK SHARES, INC. | CIC | The Willard and Geraldine Ogren Revocable Trust (WGO Trust), Iron River, Wisconsin; Greg Ogren, individually and as trustee of the WGO Trust and the Greg Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Scott Ogren, individually and as trustee of the Scott Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Mark Ogren, Minnetrista, Minnesota, individually and as trustee of the Mark Ogren Separate Descendant's Trust, Iron River, Wisconsin; and Lori Ogren, Iron River, Wisconsin, as a group acting in concert, to retain voting shares of Security Bank Shares, Inc., Iron River, Wisconsin, and thereby indirectly retain voting shares of Security State Bank, Iron River, Wisconsin, and Security Bank, New Auburn, 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