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 May 4, 2019

Filer Filing Type Filing Proposal End of Comment Period
DRAPER HOLDING COMPANY, INC. CIC Notice by Stephen K. Hayes, Presho, South Dakota, individually and as trustee of the Margery I. Hayes Trust, Fort Pierre, South Dakota, to retain control of more than 25 percent of Draper Holding Company, Inc., Fort Pierre, South Dakota, and thereby indirectly retain control of Dakota Prairie Bank, Fort Pierre, South Dakota. Additionally, Stephen K. Hayes, Margery I. Hayes Trust, Mary A. Dott, Sioux Falls, South Dakota, and JoAnne M. Wingert, Benton City, Washington, as a group acting in concert, to retain control of 25 percent or more of Draper Holding Company, Inc., and thereby indirectly retain control of Dakota Prairie Bank, Fort Pierre, South Dakota.
Newspaper: Not available
Federal Register: Not available
FIRST NATIONAL AGENCY OF BAGLEY, INC. CIC Change in Control notice by Penelope K. Lee, Alexandria, Minnesota, individually and as co-trustee of the Eleanor Kaiser Trust A for the benefit of Penelope K. Lee, the Eleanor Kaiser Trust B for the benefit of Penelope K. Lee, and the Eleanor Kaiser Irrevocable Trust for the benefit of Penelope K. Lee (together, the "Trusts FBO Ms. Lee" trustees Lake Elmo Bank, Oakdale, Minnesota (branch of Lake Elmo Bank, Lake Elmo, Minnesota), and Penelope K. Lee), to retain control of the First National Agency of Bagley, Inc. ("Company") and thereby indirectly retain control of First National Bank ("Bank"), both of Bagley, Minnesota. Additionally, Penelope K. Lee; Trusts FBO Ms. Lee; Whitney Lee, Minneapolis, Minnesota; Tammy Lee Morell, San Diego, California; and Kyle Lee, Cave Creek, Arizona, as a group acting in concert, to retain control of Company and thereby indirectly retain control of Bank.
Newspaper: 05/07/2019
Federal Register: 05/08/2019
FIRST NATIONAL AGENCY OF BAGLEY, INC. CIC Change in control notice by William C. Rosacker, Burnsville, Minnesota; William C. Rosacker II, Minnetonka, Minnesota; and Stephanie L. Forbes, Prior Lake, Minnesota, as a group acting in concert, to retain control of the First National Agency of Bagley, Inc. and thereby indirectly retain control of First National Bank, both of Bagley, Minnesota.
Newspaper: 05/07/2019
Federal Register: 05/08/2019
KRAUSE FINANCIAL, INC. CIC Lana Krause, Winnebago, Minnesota, to retain voting shares of Krause Financial, Inc., Winnebago, Minnesota (Company), and thereby indirectly retain shares of First Financial Bank in Winnebago, Winnebago, Minnesota (Bank). Also, Amanda Hair, Sioux Falls, South Dakota, to join the Krause family shareholder group acting in concert, by retaining voting shares of Company and thereby indirectly retaining shares of Bank.
Newspaper: Not available
Federal Register: 05/21/2019
STEARNS FINANCIAL SERVICES, INC. EMPLOYEE STOCK OWNERSHIP PLAN CIC Heather M. Plumski, Avon, Minnesota, as a trustee of the Stearns Financial Services, Inc., Employee Stock Ownership Plan and Trust, Saint Cloud, Minnesota, (ESOP), to acquire control of the ESOP, and thereby indirectly gain control of Stearns Financial Services, Inc., Saint Cloud, Minnesota (Stearns). Stearns controls Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala National Association, Upsala, Minnesota, and Stearns Bank of Holdingford National Association, Holdingford, Minnesota.
Newspaper: 05/08/2019
Federal Register: 05/20/2019
WALSH FINANCIAL, INC. * 3A1 Walsh Financial, Inc., Minneapolis, Minnesota, to become a bank holding company by acquiring 100 percent of The First National Bank of Buhl, Mountain Iron, Minnesota.
Newspaper: Not available
Federal Register: 05/13/2019


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 Quarter
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