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Actions taken by the Federal Reserve Bank of Minneapolis under delegated authority

Bank Branches, Domestic

Security Financial Bank, Durand, Wisconsin -- to establish a branch at 1610 Princeton Crossing, Eau Claire, Wisconsin.
- Approved, March 25, 2026

Bank Holding Companies

PB Family Bancshares, Inc., Hastings, Minnesota -- to acquire Gateway Bank, Mendota Heights, Minnesota.
- Approved, March 6, 2026

PSB Financial, Inc., Deer Lodge, Montana -- to become a bank holding company by acquiring Pioneer State Bank, Deer Lodge, Montana, upon the conversion of Pioneer Federal Savings & Loan Association, from mutual to stock form.
- Approved, February 2, 2026

Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust, Saint Cloud, Minnesota -- to acquire voting shares of Stearns Financial Services, Inc., and thereby indirectly acquire voting shares of Stearns Bank National Association, Saint Cloud, Minnesota.
- Approved, January 13, 2026

Stearns Financial Services, Inc., Employee Stock Ownership Plan and Stearns Financial Services, Inc., both of St. Cloud, Minnesota -- to acquire One American Financial Corporation, Sioux Falls, South Dakota, and thereby indirectly acquire One American Bank, Centerville, South Dakota.
- Withdrawn, January 6, 2026

Change In Bank Control

Park Financial Group, Inc., Minneapolis, Minnesota -- the 2012 Revocable Trust of Lynne Singer Redleaf, Lynne Singer Redleaf, as trustee, and Benleaf, LLC, Andrew J. Redleaf, as manager, all of Minneapolis, Minnesota; as a group acting in concert, to acquire voting shares of Park Financial Group, Inc., and thereby indirectly acquire voting shares of Park State Bank, Duluth, Minnesota. Andrew J. Redleaf was previously permitted by the Federal Reserve System to acquire voting shares of Park Financial Group, Inc., in an individual capacity.
- Permitted, March 11, 2026

American Federal Corporation, Fargo, North Dakota -- Brianna Klegstad, Hallock, Minnesota, to retain voting shares, and together with John A. Schumacher, West Fargo, North Dakota, and Jeffrey A. Schumacher, Grand Forks, North Dakota, as a group acting in concert, to retain voting shares of American Federal Corporation, and thereby indirectly retain voting shares of American Federal Bank, Fargo, North Dakota.
- Permitted, February 3, 2026

American State Bank Holding Company, Inc., Williston, North Dakota -- Barrett W. Sogard, individually, as trustee of the Barrett W. Sogard 2020 Irrevocable GST (POS) Trust under agreement dtd [7-31-2020,] as trustee of the Barrett W. Sogard 2020 Irrevocable GST (TMS) Trust under agreement dtd [7-31-2020,]and as individual trustee of the Barrett W. Sogard Irrevocable Trust under agreement dtd [12-16-2015,] all of Gainesville, Florida; Isabella M. Sogard, individually, as trustee of the Isabella M. Sogard 2020 Irrevocable GST (POS) Trust under agreement dtd [7-31-2020,] as trustee of the Isabella M. Sogard 2020 Irrevocable GST (TMS) Trust under agreement dtd [7-31-2020,] and as individual trustee of the Isabella M. Sogard Irrevocable Trust under agreement dtd [12-16-2015,] all of Lake Oswego, Oregon; Oliver T. Sogard, individually, as trustee of the Oliver T. Sogard 2020 Irrevocable GST (POS) Trust under agreement dtd [7-31-2020,] as trustee of the Oliver T. Sogard 2020 Irrevocable GST (TMS) Trust under agreement dtd [7-31-2020,] and as individual trustee of the Oliver T. Sogard Irrevocable Trust under agreement dtd [12-16-2015,] all of Horseheads, New York; and Thomas P. Sogard, individually, as trustee of the Thomas P. Sogard 2020 Irrevocable GST (POS) Trust under agreement dtd [7-31-2020,] as trustee of the Thomas P. Sogard 2020 Irrevocable GST (TMS) Trust under agreement dtd [7-31-2020,] and as individual trustee of the Thomas P. Sogard Irrevocable Trust under agreement dtd [12-16-2015,] all of Charleston, South Carolina; to join the Sogard Family Shareholder Group, a group acting in concert, to retain voting shares of American State Bank Holding Company, Inc., and thereby indirectly retain voting shares of American State Bank & Trust Company of Williston, Williston, North Dakota.
- Permitted, January 30, 2026

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Last Update: April 2, 2026