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 March 25, 2017

Filer Filing Type Filing Proposal End of Comment Period
ALERUS FINANCIAL CORPORATION CIC Notice by Alerus Financial Employee Stock Ownership Plan, Grand Forks, North Dakota to increase its ownership to 10% or more of Alerus Financial Corporation, Grand Forks, North Dakota, and indirectly Alerus Financial, National Association, Grand Forks, North Dakota.
Newspaper: Not available
Federal Register: 03/20/2017
FRANDSEN BANK & TRUST * Branch Frandsen Bank and Trust, Lonsdale, Minnesota to establish a branch facility to be located at 404 West Superior Street, Suite 210, Duluth, Minnesota.
Newspaper: Not available
Federal Register: Not applicable
LAKE ELMO BANCSHARES, INC. CIC Change in Control Notice by Rebecca R. Billingsley, Lake Elmo, Minnesota, Daniel D. Raleigh, Lake Elmo, Minnesota, and Elizabeth R. Landherr, Lake Elmo, Minnesota, individually, and as trustees of one or more of the following trusts: The Joseph Leo Raleigh Trust (trustee Daniel D. Raleigh), the Megan Snowell Raleigh Trust (trustee Daniel D. Raleigh), the Elizabeth Tian Landherr Trust (trustee Elizabeth R. Landherr), the Maria Snowell Landherr Trust (trustee Elizabeth R. Landherr), the Anna Keman Raleigh Landherr Trust (trustee Elizabeth R. Landherr), the John Daniel Billingsley Trust (trustee Rebecca R. Billingsley), the Kathleen Raleigh Billingsley Trust, (trustee Rebecca R. Billingsley), and the Rachel Elizabeth Billingsley Trust (trustee Rebecca R. Billingsley), and as the persons designated to vote the shares held by the Lake Elmo Bank Employee Stock Ownership Trust (all Trusts located in Lake Elmo, Minnesota), to retain control of 25 percent or more of Lake Elmo Bancshares, Inc., Lake Elmo, Minnesota, and thereby indirectly retain control of Lake Elmo Bank, Lake Elmo, Minnesota.
Newspaper: 03/15/2017
Federal Register: 03/14/2017
LEACKCO BANK HOLDING COMPANY, INC. CIC Change in Control Notice by Jeffory A. Erickson, Sioux Falls, South Dakota to retain and acquire 25 percent or more of the shares of Leackco Bank Holding Company, Inc., Wolsey, South Dakota, and thereby indirectly gain control of American Bank and Trust, Wessington Springs, South Dakota.
Newspaper: Not available
Federal Register: 03/13/2017
PLAINVIEW BANKSHARES, INC. CIC Change in control notice by Cassie Harrington, individually and as co-trustee of Foresight Bank Employee Stock Ownership Plan (ESOP), both of Plainview, Minnesota, to retain control of Plainview Bankshares, Inc., Plainview, Minnesota (PBI), and thereby indirectly retain control of Foresight Bank, Plainview, Minnesota. In addition, the following persons are filing to retain shares of PBI and thus remain members of the Harrington Family Shareholder Group, a group acting in concert, which controls 25% or more of PBI: Sally Harrington, Plainview, Minnesota; Amanda Raines; Issaquah, Washington; Daniel Broome-Raines, Issaquah, Washington; Anton Harrington, Plainview, Minnesota; Julia Harrington, Elgin, Minnesota; Mitchell Harrington, Plainview, Minnesota; Abigail Harrington, Plainview, Minnesota; Nathan Harrington, Plainview, Minnesota; David Harrington, Plainview, Minnesota; Beatrice Harrington, Plainview, Minnesota; Molly Harrington, St. Paul, Minnesota; Ryan Harrington, Lommatzsch, Saxony, Germany; the Harrington Living Trust and Van Harrington, trustee, both of Maiden Rock, Wisconsin; William Harrington, individually and as co-trustee of ESOP, Elgin, Minnesota; Community Presbyterian Church and Kent Harrington as session member, both of Plainview, Minnesota.
Newspaper: Not available
Federal Register: Not available


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

* 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