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 January 7, 2012

Filer Filing Type Filing Proposal End of Comment Period
METRO NORTH BANCSHARES, INC. CIC Change in Control Notice by the Gladys E. Youse Trust, and its trustee, Madolyn Y. Babcock, both of Minneapolis, Minnesota, to acquire 25% or more of Metro North Bancshares, Inc. and thereby indirectly acquire control of The Bank of Elk River, both of Elk River, Minnesota. Additionally, the Gladys E. Youse Trust, and its trustee, Madolyn Y. Babcock, propose to join the Babcock family shareholder group, which controls 25% or more of Metro North Bancshares, Inc.
Newspaper: Not available
Federal Register: 01/18/2012
PERHAM STATE BANCSHARES, INC. * 3A3 Perham State Bancshares, Inc., Perham, Minnesota, to acquire 100 percent of Farmers State Bank of Dent, Dent Minnesota.
Newspaper: 01/30/2012
Federal Register: 02/06/2012


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
BELT VALLEY BK, BELT, MONTANA 223751 08/29/2011 12/13/2011 S Small Bank
COMMUNITY RESOURCE BK, NORTHFIELD, MINNESOTA 813853 08/01/2011 11/28/2011 S Small Bank
MERCHANTS ST BK, FREEMAN, SOUTH DAKOTA 289757 08/15/2011 11/28/2011 S Small Bank


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

* Subject to the provisions of the Community Reinvestment Act

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