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 November 20, 2021

Filer Filing Type Filing Proposal End of Comment Period
AMERICAN BANCOR, LTD. * 3A3 American Bancor, Ltd., Dickinson, North Dakota, to acquire Financial Security Bank, Kerkhoven, Minnesota.
Newspaper: 11/26/2021
Federal Register: 12/01/2021
BITTERROOT HOLDING COMPANY * 3A3 Bitterroot Holding Company, Lolo, Montana, to acquire Antler Land Company and thereby indirectly acquire Little Horn State Bank, both of Hardin, Montana.
Newspaper: 12/18/2021
Federal Register: 12/22/2021
BOSSHARD BANCO, LTD. CIC Bosshard Bank Irrevocable Trust u/a/d October 21, 2021, South Dakota Trust Company, LLC., as trustee, both of Sioux Falls, South Dakota; and Andrew R. Bosshard, as trust protector, La Crosse, Wisconsin; to join a group acting in concert to acquire voting shares of Bosshard Banco, Ltd., La Crosse, Wisconsin, and indirectly acquire voting shares of Intercity State Bank, Schofield, Wisconsin, and The First National Bank of Bangor, Bangor, Wisconsin.
Newspaper: 12/03/2021
Federal Register: 11/30/2021
CLAYTON BANKSHARES, INC. CIC Bosshard Bank Irrevocable Trust u/a/d October 21, 2021, South Dakota Trust Company, LLC., as trustee, both of Sioux Falls, South Dakota; and Andrew R. Bosshard, as trust protector, La Crosse, Wisconsin; to join a group acting in concert to acquire voting shares of Clayton Bankshares, Inc., and indirectly acquire voting shares of Citizens State Bank-La Crosse, both of La Crosse, Wisconsin.
Newspaper: 11/24/2021
Federal Register: 11/30/2021
FIRST INTERSTATE BANCSYSTEM, INC. * 3A5
* 18C
* Branch
First Interstate BancSystem, Inc., Billings, Montana, to merge with Great Western Bancorp, Inc., and thereby indirectly acquire Great Western Bank, both of Sioux Falls, South Dakota. Additionally, First Interstate Bank, Billings, Montana, to merge with Great Western Bank, Sioux Falls, South Dakota and, incident thereto, establish branches.
Newspaper: Not available
Federal Register: 12/15/2021
HIGHLAND BANCSHARES, INC. CIC Richard M. Wall, Eden Prairie, Minnesota, Elizabeth Wall Lee, Sunfish Lake, Minnesota, and John K. Wall, Wayzata, Minnesota, to retain voting shares of Highland Bancshares, Inc., Saint Michael, Minnesota (HBI), and thereby indirectly retain voting shares of Highland Bank, Saint Michael, Minnesota (Bank). In addition, the 2012 Grantor Trust for Richard M. Wall and Family U/A dated 12/26/12, the Emilie Grace Wall 2020 Irrevocable Trust U/A dated 12/26/20, the Ericka Marie Wall 2020 Irrevocable Trust U/A dated 12/26/20, and the Julianna Karin Wall 2020 Irrevocable Trust U/A dated 12/26/20, all of Minneapolis, Minnesota (Richard M. Wall trustee); the 2012 Grantor Trust for John K. Wall and Family dated 12/26/12, the Lauren Wall 2020 Irrevocable Trust U/A dated 12/26/20, and the Jack Wall 2020 Irrevocable Trust U/A dated 12/26/20, all of Minneapolis, Minnesota (John K. Wall trustee); the 2012 Grantor Trust for Elizabeth W. Lee and Family U/A dated 12/26/12, the Kevin Connor Lee 2020 Irrevocable Trust U/A dated 12/26/20, and the Shannon Elizabeth Lee 2020 Irrevocable Trust U/A dated 12/26/20, all of Minneapolis, Minnesota (Elizabeth Wall Lee trustee); to join the Wall family control group acting in concert by acquiring shares of HBI and thereby indirectly acquiring shares of Bank.
Newspaper: Not available
Federal Register: 11/19/2021
MSB BANKSHARES, INC. CIC Gene R. Mottes, Iron River, Michigan, to acquire voting shares of MSB Bankshares, Inc. and thereby indirectly acquire voting shares of The Miners State Bank, both of Iron River, Michigan.
Newspaper: Not available
Federal Register: 11/24/2021
OPPORTUNITY BANK OF MONTANA * 18C
* Branch
Opportunity Bank of Montana, Helena, Montana, to merge with First Community Bank, Glasgow, Montana, and incident thereto, establish branches.
Newspaper: Not available
Federal Register: Not applicable
PB FAMILY BANCSHARES, INC. * 3A1 PB Family Bancshares, Inc., Hastings, Minnesota, to become a bank holding company by acquiring 100 percent of Premier Bank Minnesota, Farmington, Minnesota, and Premier Bank Rochester, Rochester, Minnesota.
Newspaper: Not available
Federal Register: Not available
PLAINS COMMERCE FINANCIAL, INC. CIC The Jerome Hageman Stock Trust 2020, Stephen Hageman, as trustee, both of Watertown, South Dakota, to join the Hageman Family Control Group, a group acting in concert, to retain voting shares of Plains Commerce Financial, Inc. and thereby indirectly retain shares of Plains Commerce Bank, both of Hoven, South Dakota.
Newspaper: 11/30/2021
Federal Register: 12/06/2021
SECURITY BANK SHARES, INC. CIC The Willard and Geraldine Ogren Revocable Trust (WGO Trust), Iron River, Wisconsin; Greg Ogren, individually and as trustee of the WGO Trust and the Greg Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Scott Ogren, individually and as trustee of the Scott Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Mark Ogren, Minnetrista, Minnesota, individually and as trustee of the Mark Ogren Separate Descendant's Trust, Iron River, Wisconsin; and Lori Ogren, Iron River, Wisconsin, as a group acting in concert, to retain voting shares of Security Bank Shares, Inc., Iron River, Wisconsin, and thereby indirectly retain voting shares of Security State Bank, Iron River, Wisconsin, and Security Bank, New Auburn, Wisconsin.
Newspaper: Not available
Federal Register: Not available
STEARNS FINANCIAL SERVICES, INC. EMPLOYEE STOCK OWNERSHIP PLAN CIC Pamela J. Bjerke, Rice, Minnesota; to acquire control of voting shares of Stearns Financial Services, Inc. (Stearns), by becoming a trustee of Stearns Financial Services, Inc. Employee Stock Ownership Plan and Trust, both of St. Cloud, Minnesota, which owns Stearns, and thereby indirectly owns Stearns Bank N.A., St. Cloud, Minnesota, Stearns Bank of Upsala, N.A., Upsala, Minnesota, and Stearns Bank of Holdingford, N.A., Holdingford, Minnesota.
Newspaper: Not available
Federal Register: 12/06/2021


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
NORTH AMER BKG CO, ROSEVILLE, MINNESOTA 2631846 06/07/2021 11/15/2021 S Int Small Bank


CRA Examinations scheduled for First Quarter of 2022 (January 1, 2022 - March 31, 2022) and Second Quarter of 2022 (April 1, 2022 - June 30, 2022)

Institution Location Quarter
FIRST INTRST BK BILLINGS, MONTANAFirst Quarter of 2022
FIRST WESTERN B&TC MINOT, NORTH DAKOTAFirst Quarter of 2022
PROFINIUM TRUMAN, MINNESOTAFirst Quarter of 2022
YELLOWSTONE BK LAUREL, MONTANAFirst Quarter of 2022
CHARTER BK EAU CLAIRE, WISCONSINSecond Quarter of 2022

* 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