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

Bank Branches, Domestic
Opportunity Bank of Montana, Helena, Montana -- to establish a branch at 1005 North 27th Street, Billings.
- Approved, August 16, 2019
First Montana Bank Inc., Missoula, Montana -- to establish a branch at 1135 Euclid Avenue, Helena.
- Approved, June 3, 2019
Pioneer Bank, Mapleton, Minnesota -- to establish a branch at 1450 Adams Street, Mankato.
- Approved, February 22, 2019
Opportunity Bank of Montana, Helena, Montana -- to establish a branch at 21 3rd Street North, Great Falls.
- Approved, February 6, 2019
Bank Holding Companies
Plains Commerce Financial, Inc., Hoven, South Dakota -- to become a bank holding company by acquiring Plains Commerce Bank, Hoven.
- Approved, August 14, 2019
The Bridger Company, Bridger, Montana -- to acquire First Security Bank of Malta, Malta, and Valley Bank of Glasgow, Glasgow.
- Approved, August 8, 2019
Bank Forward Employee Stock Ownership Plan and Trust, Fargo, North Dakota -- to acquire shares of Security State Bank Holding Company, Fargo, and thereby indirectly increase control of Bank Forward, Hannaford.
- Approved, August 7, 2019
Financial Services of Lowry, Inc., Lowry, Minnesota -- to acquire The First National Bank of Osakis, Osakis.
- Approved, June 27, 2019
Merchants Financial Group, Inc., Winona, Minnesota -- to acquire The First National Bank of Northfield, Northfield.
- Approved, June 25, 2019
Walsh Financial, Inc., Minneapolis, Minnesota -- to become a bank holding company by acquiring The First National Bank of Buhl, Mountain Iron.
- Withdrawn, May 22, 2019
First Holding Company of Cavalier, Inc., Cavalier, North Dakota -- to acquire Northern Sky Bank, Crookston, Minnesota.
- Approved, May 6, 2019
Citizens Community Bancorp, Inc., Eau Claire, Wisconsin -- to acquire F. & M. Bancorp of Tomah, Inc., Tomah, and thereby indirectly acquire Farmers & Merchants Bank.
- Approved, April 26, 2019
Citizens Bank Group, Inc., St. James, Minnesota -- to acquire The Nicollet County Bank of Saint Peter, St. Peter.
- Approved, April 12, 2019
Security State Bancshares of Bemidji, Inc., Bemidji, Minnesota -- to engage de novo in extending credit and servicing loans.
- Approved, April 8, 2019
Great Western Bancorp, Inc., Sioux Falls, South Dakota -- relief from a commitment.
- Granted, February 26, 2019
GNI, LLC, Hamilton, North Dakota -- to become a bank holding company by acquiring Wall Street Holding Company, Hamilton, and thereby acquire control of Bank of Hamilton.
- Withdrawn, January 31, 2019
Orvet, Inc., Minneapolis, Minnesota; and Silver Springs Financial Corp -- to acquire Lake Country Community Bank, Morristown.
- Withdrawn, January 18, 2019
Bank Mergers
Pioneer Bank, Mapleton, Minnesota -- to merge with The Nicollet County Bank of St. Peter, St. Peter, and thereby establish a branch.
- Approved, August 9, 2019
Frandsen Bank & Trust, Lonsdale, Minnesota -- to purchase certain assets and assume certain liabilities of the Duluth branch of Alerus Financial, N.A., Grand Forks, North Dakota, and thereby establish a branch at 331 West Superior Street, Duluth.
- Approved, March 19, 2019
First Interstate Bank, Billings, Montana -- to merge with Community 1st Bank, Post Falls, Idaho, and thereby establish branches.
- Approved, January 10, 2019
Change In Bank Control
Guaranty Development Company, Livingston, Montana -- change in bank control of Guaranty Development Company, and its subsidiary, American Bank, Bozeman.
- Permitted, August 15, 2019
First Rushmore Bancorporation, Inc., Worthington, Minnesota -- change in bank control of First Rushmore Bancorporation, Inc., and its subsidiary, First State Bank Southwest, Pipestone.
- Permitted, July 23, 2019
First National Agency of Bagley, Inc., Bagley, Minnesota -- to retain control of First National Agency of Bagley, Inc., and its subsidiary, First National Bank, Bagley (two notices).
- Permitted, July 1, 2019
Draper Holding Company, Inc., Fort Pierre, South Dakota -- change in bank control of Draper Holding Company, Inc., and its subsidiary, Dakota Prairie Bank, Fort Pierre.
- Permitted, June 28, 2019
Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota -- change in bank control of Stearns Financial Services, Inc., Employee Stock Ownership Plan and its subsidiaries Stearns Financial Services, Inc., St. Cloud; Stearns Bank National Association; Stearns Bank of Upsala National Association, Upsala; and Stearns Bank of Holdingford National Association, Holdingford.
- Permitted, June 11, 2019
Krause Financial, Inc., Winnebago, Minnesota -- to retain control of Krause Financial, Inc., and its subsidiary, First Financial Bank in Winnebago, Winnebago.
- Permitted, June 10, 2019
First National Bancorp, Inc., Missoula, Montana -- to retain control of First National Bancorp, Inc., and its subsidiary, First Montana Bank, Inc., Missoula.
- Permitted, June 3, 2019
Republic Bancshares, Inc., Duluth, Minnesota -- to retain control of Republic Bancshares, Inc., and its subsidiary, Republic Bank, Inc., Duluth.
- Permitted, May 30, 2019
Bosshard Banco, Ltd., La Crosse, Wisconsin -- change in bank control of Bosshard Banco, Ltd., and its subsidiaries, First National Bank of Bangor, Bangor, and Intercity State Bank, Schofield.
- Permitted, May 17, 2019
Bosshard Banco, Ltd., La Crosse, Wisconsin -- change in bank control of Bosshard Banco, Ltd., and its subsidiaries, First National Bank of Bangor, Bangor, and Intercity State Bank, Schofield.
- Permitted, April 4, 2019
Bankshares of Hawley, Inc., Hawley, Minnesota -- to retain control of Bankshares of Hawley, Inc., and its subsidiary, Valley Premier Bank, Hawley.
- Permitted, April 3, 2019
NATCOM Bancshares, Inc., Superior, Wisconsin -- to retain control of NATCOM Bancshares, Inc., and its subsidiaries, National Bank of Commerce, Superior; Republic Bancshares, Inc., Duluth; and Republic Bank.
- Permitted, March 26, 2019
First Financial Corporation, Arthur, North Dakota -- change in bank control of First Financial Corporation and its subsidiary, Bank North, Arthur.
- Permitted, March 22, 2019
Gale Bank Holding Company, Inc., Galesville, Wisconsin -- to retain control of Gale Bank Holding Company, Inc., and its subsidiary, Bluff View Bank, Galesville.
- Permitted, March 21, 2019
PSB Financial Shares, Inc., Prinsburg, Minnesota -- change in bank control of PSB Financial Shares, Inc., and its subsidiary, PrinsBank, Prinsburg.
- Permitted, March 13, 2019
Savings and Loan Holding Companies
Ameriprise Financial, Inc., Minneapolis, Minnesota -- (1) to become a savings and loan holding company upon the conversion of its subsidiary, Ameriprise National Trust Bank, Minneapolis, into a federal savings bank to be named Ameriprise Bank, FSB; and (2) election to become a financial holding company.
- Approved, April 15, 2019
The Farrar Beresford Bancorporation Inc. Irrevocable Trust, Britton, South Dakota; and Beresford Bancorporation, Inc. (Applicants) -- (1) to become bank holding companies for a moment in time by acquiring Western Bancshares of Alamogordo, Inc., Carlsbad, New Mexico, and Western Bank, while retaining ownership of First Savings Bank, Beresford, a federal savings bank; and (2) to reconvert to savings and loan holding companies following the merger of Western Bank and First Savings Bank and for Applicants to retain their current operations.
- Approved, January 29, 2019

Last Update: August 22, 2019