District 9 | Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
Filings received during the week ending September 24, 2022
| Filer | Filing Type | Filing Proposal | End of comment period |
|---|---|---|---|
| BERESFORD BANCORPORATION, INC. | CIC | The Frank Farrar Dynasty Trust II, and Robert Farrar, as trustee and individually, both of Britton, South Dakota; to acquire voting shares of Beresford Bancorporation, Inc., Britton, South Dakota, and thereby indirectly acquire First Savings Bank, Beresford, South Dakota, as part of a group acting in concert that includes the Frank L. Farrar & Patricia J. Farrar Irrevocable Trust, Britton, South Dakota, Robert Farrar, as trustee; Anne M. Farrar, St. Paul, Minnesota; Sally A. Farrar, Arkansaw, Wisconsin; Jeanne Farrar Orfield, Minneapolis, Minnesota; Mary S. Farrar Turner, Pierre, South Dakota; Samuel Farrar Orfield, Minneapolis, Minnesota; Arthur Turner, Lauderdale, Minnesota; Frank Turner, Hettinger, North Dakota; and Reid Turner, Iowa City, Iowa. | Newspaper: Not available Federal Register: Not available |
| CAPITOL BANCORPORATION, INC. | CIC | The Frank Farrar Dynasty Trust II, and Robert Farrar, as trustee and individually, both of Britton, South Dakota; to acquire voting shares of Capitol Bancorporation, Inc., Britton, South Dakota, and thereby indirectly acquire First National Bank, Ft. Pierre, South Dakota, as part of a group acting in concert that includes the Frank L. Farrar & Patricia J. Farrar Irrevocable Trust, Britton, South Dakota, Robert Farrar, as trustee; Anne M. Farrar, St. Paul, Minnesota; Sally A. Farrar, Arkansaw, Wisconsin; Jeanne Farrar Orfield, Minneapolis, Minnesota; Mary S. Farrar Turner, Pierre, South Dakota; Samuel Farrar Orfield, Minneapolis, Minnesota; Arthur Turner, Lauderdale, Minnesota; Frank Turner, Hettinger, North Dakota; and Reid Turner, Iowa City, Iowa. | Newspaper: Not available Federal Register: Not available |
| FIRST RUSHMORE BANCORPORATION, INC. | CIC | Change in Control Notice by the Mark Jon Vis, Worthington, Minnesota, as co- Trustee, to acquire control of First State Bank Southwest KSOP Plan and Trust, Worthington, Minnesota, which controls 25% or more of the shares of First Rushmore Bancorporation, Inc., Worthington, Minnesota. First Rushmore, Inc., controls First State Bank Southwest, Pipestone, Minnesota. | Newspaper: 10/12/2022 Federal Register: Not available |
| FULDA BANCORPORATION INC. | CIC | The Frank Farrar Dynasty Trust II, and Robert Farrar, as trustee and individually, both of Britton, South Dakota; to acquire voting shares of Fulda Bancorporation, Inc., Britton, South Dakota, and thereby indirectly acquire First National Bank, Oldham, South Dakota, as part of a group acting in concert that includes the Frank L. Farrar & Patricia J. Farrar Irrevocable Trust, Britton, South Dakota, Robert Farrar, as trustee. | Newspaper: Not available Federal Register: Not available |
| HIGHLAND BANCSHARES, INC. | * 3A3 | Highland Bancshares, Inc., Saint Michael, Minnesota, to acquire Boundary Waters Bank, Ely, Minnesota. | Newspaper: 10/08/2022 Federal Register: 10/24/2022 |
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