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

Bank Branches, Domestic
First Premier Bank, Sioux Falls, South Dakota -- to establish a branch at 202 NW 2nd Street, Madison.
- Approved, January 21, 2020
Bank Holding Companies
L1 Holding Corporation, Minneapolis, Minnesota -- (1) to become a bank holding company by acquiring Eagle Community Bank, Maple Grove; and (2) to engage in mortgage lending activities by acquiring LeaderOne Financial Corporation, Overland Park, Kansas.
- Withdrawn, May 7, 2020
Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota -- to acquire additional shares of Stearns Financial Services, Inc., Saint Cloud, and thereby indirectly increase its control of Stearns Bank National Association; Stearns Bank of Upsala, National Association, Upsala; and Stearns Bank of Holdingford, National Association, Holdingford.
- Approved, May 6, 2020
Citizens Bancorporation of New Ulm, Inc., New Ulm, Minnesota -- to acquire Farmers State Agency of Watkins, Inc., Watkins.
- Approved, March 10, 2020
Bank Mergers
Dacotah Bank, Aberdeen, South Dakota -- to merge with First State Bank of Claremont, Groton, and thereby establish branches.
- Approved, May 11, 2020
Change In Bank Control
Western Bancorporation, Inc., Duluth, Minnesota -- to retain control of Western Bancorporation, Inc., and its subsidiaries, Cass Lake Company, Cass Lake; Western National Bank of Cass Lake; and Western National Bank, Duluth.
- Permitted, April 24, 2020
Lincoln Holding Company, Hankinson, North Dakota -- change in bank control of Lincoln Holding Company and its subsidiary, Lincoln State Bank, Hankinson.
- Permitted, April 17, 2020
Redwood Financial, Inc., Redwood Falls, Minnesota -- to retain control of Redwood Financial, Inc., and its subsidiary, HomeTown Bank, Redwood Falls.
- Permitted, April 3, 2020
Full Service Insurance Agency, Inc., Buxton, North Dakota -- to retain control of Full Service Insurance Agency, Inc., and its subsidiary, First State Bank, Buxton.
- Permitted, March 27, 2020
Citizens Bancshares, Inc., Ontonagon, Michigan -- change in bank control of Citizens Bancshares, Inc., and its subsidiary, The Citizens State Bank of Ontonagon, Ontonagon.
- Permitted, March 23, 2020
Stearns Financial Services, Inc., St. Cloud, Minnesota -- to retain control of Stearns Financial Services, Inc., and its subsidiaries, Stearns Bank National Association, St. Cloud; Stearns Bank of Holdingford, National Association, Holdingford; and Stearns Bank of Upsala, National Association, Upsala.
- Permitted, March 13, 2020
Metro North Bancshares, Inc., Elk River, Minnesota -- to retain control of Metro North Bancshares, Inc., and its subsidiary, The Bank of Elk River, Elk River.
- Permitted, February 21, 2020
McLean Bank Holding Company, Garrison, North Dakota -- change in bank control of McLean Bank Holding Company and its subsidiaries, Garrison State Bank & Trust, Garrison; Bank of Turtle Lake, Turtle Lake; and Farmers Security Bank, Washburn.
- Permitted, February 10, 2020
Bozeman Bancorp, Inc., Bozeman, Montana -- change in bank control of Bozeman Bancorp, Inc., and its subsidiary, Bank of Bozeman, Bozeman.
- Permitted, January 29, 2020
Extensions Of Time
Pioneer Bank, Mapleton, Minnesota -- extension to August 22, 2020, to establish a branch at 1450 Adams Street, Mankato.
- Granted, April 29, 2020
Meta Financial Group, Inc., Sioux Falls, South Dakota -- extension to April 15, 2020, to become a bank holding company on the conversion of its savings bank subsidiary, MetaBank, Sioux Falls, into a national bank (to be named MetaBank, National Association).
- Granted, February 21, 2020
Pioneer Bank, Mapleton, Minnesota -- extension to May 22, 2020, to establish a branch at 1450 Adams Street, Mankato.
- Granted, February 20, 2020
International Operations
USB European Holdings Company, Minneapolis, Minnesota -- to invest in Sage Pay Europe Limited, Newcastle Upon Tyne, United Kingdom.
- Approved, January 19, 2020
Savings and Loan Holding Companies
MidCountry Acquisition Corp., Minneapolis, Minnesota -- to engage in nonbanking activities through the formation of CB Shared Services, Inc., Minneapolis, to provide information technology, human resources, Call Report preparation, and compliance services to MidCountry Bank, Bloomington, and other subsidiary banks of holding company affiliates.
- Approved, April 6, 2020

Last Update: May 21, 2020