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 April 3, 2021

Filer Filing Type Filing Proposal End of Comment Period
CHEROKEE BANCSHARES, INC. CIC Andrew J. Gesell, individually, and as co-trustee with Heidi R. Gesell, of the Bank Share Marital Trust under the R. James Gesell Declaration of Trust dated January 13, 2000, as amended (Bank Share Marital Trust), all of St. Paul, Minnesota, to retain and acquire additional voting shares of Cherokee Bancshares, Inc. (Cherokee), and thereby indirectly retain and acquire additional voting shares of BankCherokee (Bank), both of St. Paul, Minnesota. Additionally, Bank Share Marital Trust; Charles R. Gesell, individually, and as trustee of the Charles R. Gesell Trust Declaration under agreement dated December 30, 1999, both of Santa Rosa, California; and Peter J. Gesell, individually, and as trustee of the Peter J. Gesell Trust Declaration under agreement dated December 30, 1999, both of Duluth, Minnesota; to join the Gesell Family Shareholder Group, a group acting in concert, to retain and acquire additional voting shares of Cherokee, and thereby indirectly retain and acquire voting shares of Bank.
Newspaper: Not available
Federal Register: 04/20/2021
CITIZENS STATE BANK OF ONTONAGON, THE * Branch The Citizens State Bank of Ontonagon (Bank), Ontonagon, Michigan, proposes to establish branches at 32500 Woodward Avenue, Royal Oak, Michigan, and at 751 Greenland Road, Ontonagon, Michigan. In addition, Bank proposes a change to the general character of its business.
Newspaper: Not available
Federal Register: Not applicable
FARMERS STATE FINANCIAL CORP. CIC Steven Clevidence, Stevensville, Montana; the GC Heritage Trust and the MG Holdings Trust, Ryan Clevidence, trustee, all of Lolo, Montana; the Groff Heirloom Trust and the IW Holdings Trust, Sara Clevidence Waldbillig, trustee, all of Lolo, Montana; and Shane Reely, trust protector of each of the foregoing trusts, Missoula, Montana; to retain voting shares of Farmers State Financial Corp. and thereby indirectly retain voting shares of Farmers State Bank, both of Victor, Montana, and to join the previously approved Groff-Clevidence family control group acting in concert.
Newspaper: Not available
Federal Register: Not available
FRANDSEN BANK & TRUST * Branch Frandsen Bank & Trust, Lonsdale, Minnesota to establish a branch at 4803 Miller Trunk Highway, Hermantown, Minnesota.
Newspaper: Not available
Federal Register: Not applicable
LEACKCO BANK HOLDING COMPANY, INC. CIC DDS Trust, Preston B. Steele as trustee, both of Huron, South Dakota, to acquire voting shares of 25 percent or more of Leackco Bank Holding Company, Inc., Huron, South Dakota, and thereby indirectly acquire American Bank & Trust, Wessington Springs, South Dakota.
Newspaper: Not available
Federal Register: Not available
WASECA BANCSHARES, INC. CIC Michael P. Kampmeyer, Sunfish Lake, Minnesota, James C. Kron, Hudson, Wisconsin, the Kristi Erickson Kampmeyer Irrevocable Trust dated 2021 (Gary Vander Vorst, trustee), Sunfish Lake, Minnesota, Marilyn J. Kron Irrevocable Trust dated 2021 (Gary Vander Vorst, trustee), Hudson, Wisconsin, Michael Kampmeyer Irrevocable Trust dated 2021 (Kristi Erickson Kampmeyer, trustee), Sunfish Lake, Minnesota, James C. Kron Irrevocable Trust dated 2021 (Marilyn J. Kron, trustee), Hudson, Wisconsin, Claire L. Erickson Irrevocable Trust for the benefit of Kristi Erickson Kampmeyer and Descendants dated July 16, 2020 (Kristi Erickson Kampmeyer, co-trustee and Gary Vander Vorst, co-trustee), Sunfish Lake, Minnesota, and Claire L. Erickson Irrevocable Trust II for the benefit of Kristi Erickson Kampmeyer and Descendants dated July 16, 2020 (Kristi Erickson Kampmeyer, co-trustee and Gary Vander Vorst, co-trustee), Sunfish Lake, Minnesota, to acquire and/or retain voting shares of Waseca Bancshares, Inc., Waseca, Minnesota ("Waseca BHC"), and thereby join the Kampmeyer group acting in concert that collectively controls 25 percent or more of the shares and thereby controls Waseca BHC. Waseca BHC controls Lake Area Bank, Lindstrom, Minnesota, and Roundbank, Waseca, Minnesota.
Newspaper: Not available
Federal Register: Not available
WEST 12 BANCORPORATION, INC. CIC Debra Cheryl Connolly, Danvers, Minnesota; to retain voting shares of West 12 Bancorporation Inc., and thereby indirectly retain voting shares of State Bank of Danvers, both of Benson, Minnesota.
Newspaper: Not available
Federal Register: Not available
WNB HOLDING COMPANY CIC Notice of Change in Control by Kent A. Gernander, Rushford, Minnesota, individually, and as Trustee with Voting Power for the Elizabeth King Bach Trust under Agreement dated July 19, 2019, Winona, Minnesota, the E.L. King Jr. Marital Trust FBO E.L. King III, Winona, Minnesota, the David King Marital Trust created under the Will dated 3/6/95, Winona, Minnesota, the E.L. King Jr. Marital Trust FBO Elizabeth King Bach, Winona, Minnesota, the E.L. King, Jr. Generation Skip Trust FBO E.L. King III, Winona, Minnesota, and the E.L. King, Jr. Generation Skip Trust FBO Elizabeth King Bach, Winona, Minnesota, as a control group acting in concert, to retain 25% or more of the shares and thereby control of WNB Holding Company, Winona, Minnesota. WNB Holding Company, Winona, Minnesota controls WNB Financial, National Association, Winona, Minnesota.
Newspaper: Not available
Federal Register: Not available
WNB HOLDING COMPANY CIC Notice of Change in Control by Daniel C. King, North Plains, Oregon; E.L. King III and Sarah King, both of Henderson, Nevada; Heather A. Bach, LaCrosse, Wisconsin; Nicolle N. Jensen, Santa Fe, New Mexico; Sarah E. Bach-Lumsden, Winona, Minnesota; and Elizabeth King Bach, Winona, Minnesota, as trustee of the Frederick R. King Marital Trust U/W, Winona, Minnesota, and as trustee of the Frederick R. King Family Trust U/W, Winona, Minnesota, as a control group acting in concert, to retain 25% or more of the shares and thereby control of WNB Holding Company, Winona, Minnesota. WNB Holding Company, Winona, Minnesota controls WNB Financial, National Association, Winona, 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 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