Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

District: 9
Federal Reserve Bank of: Minneapolis

Filings received during the week ending November 4, 2006

Filer Filing Type Filing Proposal End of Comment Period
ALERUS FINANCIAL CORPORATION * 3A3 Alerus Financial Corporation, Grand Forks, North Dakota, to acquire 100 percent of Alerus Interim, National Association, Minnetonka, Minnesota, which will be merged with Stanton Trust Company, National Association, and the resulting institution will immediately thereafter be merged into Alerus Financial, National Association, Grand Forks, North Dakota.
Newspaper: Not available
Federal Register: 12/01/2006
B & E INVESTMENTS, INC., * 3A3 B & E Investments Inc., (State Bank of Arcadia) Employee Stock Ownership Plan & Trust, Arcadia, Wisconsin, and B & E Investments, Inc., Bloomer, Wisconsin, propose to acquire 100% of John O. Melby & Co. Bank, Whitehall, Wisconsin.
Newspaper: Not available
Federal Register: Not available
CHARTER BANKSHARES, INC. * 3A1 Charter Bankshares, Inc., Eau Claire, Wisconsin, to become a bank holding company by acquiring at least 90 percent of Charter Bank Eau Claire, Eau Claire, Wisconsin.
Newspaper: Not available
Federal Register: 11/27/2006
COMMERCIAL BANCSHARES, INC. CIC Eric W. Hilgenberg Living Trust, Eric W. Hilgenberg and Jennifer J. Hilgenberg, as individuals and trustees, Rosemount, Minnesota, Walter W. Hilgenberg, Prior Lake, Minnesota, as a group acting in concert; and Stuart A. Voigt, Apple Valley, Minnesota, as an individual, to gain control of Commercial Bancshares, Inc., Bloomington, Minnesota.
Newspaper: Not available
Federal Register: 11/01/2006
EDEN VALLEY BANCSHARES, INC. CIC Change in control notice by Karen K. Zaun, Saint Cloud, Minnesota, to acquire control of Eden Valley Bancshares, Inc., Eden Valley, Minnesota and thereby indirectly acquire control of State Bank in Eden Valley, Eden Valley, Minnesota.
Newspaper: 11/30/2006
Federal Register: 11/21/2006
FRANDSEN FINANCIAL CORPORATION * 3A5 Frandsen Financial Corporation, Forest Lake, Minnesota, to merge with Pine Bankshares, Inc., Pine City, Minnesota, and thereby indirectly acquire The First National Bank of Pine City, Pine City, Minnesota.
Newspaper: 12/04/2006
Federal Register: 11/17/2006
FULL SERVICE INSURANCE AGENCY, INC. CIC Change in control notice by Dennis Duane Haugen, Portland, North Dakota, to acquire 10 percent or more of the shares of Full Service Insurance Agency, Inc., Buxton, North Dakota and thereby indirectly acquire control of First State Bank, Buxton, North Dakota.
Newspaper: Not available
Federal Register: Not available
Heywood Bancshares, Inc. * 3A1 Heywood Bancshares, Inc., Northfield, Minnesota, to become a bank holding company by acquiring 100 percent of The First National Bank of Northfield, Northfield, Minnesota.
Newspaper: 11/13/2006
Federal Register: 11/09/2006
JOHN T. VUCUREVICH FOUNDATION * 3A1 John T. Vucurevich Foundation, Rapid City, South Dakota, to become a bank holding company by acquiring 100% of the voting shares of United Bancorporation, Osseo, Wisconsin, and Midwest Bancorporation, Billings, Montana.
Newspaper: Not available
Federal Register: 11/27/2006
KIESTER INVESTMENTS, INC. CIC Change in control notice by Edward Kent Christian, Kiester, Minnesota, to acquire 25 percent or more of the shares of Kiester Investments, Inc., Kiester, Minnesota and thereby indirectly acquire control of First State Bank of Kiester, Kiester, Minnesota.
Newspaper: Not available
Federal Register: 11/13/2006
PEREGRINE CORPORATION CIC Change in control notice by Jeffrey F. Burzinski, Chaska, Minnesota, as an individual, and as part of a group acting in concert with Jeffrey J. Burzinski, Chaska, Minnesota, Kathryn J. Burzinski, Chanhassen, Minnesota, Elizabeth Burzinski, Chaska, Minnesota, and Margene Burzinski, Chaska, Minnesota to acquire control of Peregrine Corporation, Chaska, Minnesota and thereby indirectly acquire control of Community Bank Corporation, Chaska, Minnesota.
Newspaper: Not available
Federal Register: 11/13/2006
UNITED BANCORPORATION * 3A5 United Bancorporation, Osseo, Wisconsin, to merge with Midwest Bancorporation, Billings, Montana.
Newspaper: Not available
Federal Register: 11/09/2006


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     Quarter of

Institution Location
NONE

Release dates | Full version (300 KB PDF)
Actions by the Board | Actions under delegated authority
Applications and reports:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco