Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 9: Federal Reserve Bank of Minneapolis PDF
Filings received during the week ending May 17, 2025
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| SAINT JOSEPH BANCSHARES ACQUISITIONS, INC. | Change in Bank Control | Nancy Ferche, individually, and as trustee of the Robert Ferche Revocable Trust, as amended (the "Ferche Trust") and Marital Trust governed by the Ferche Trust agreement, all of St. Stephen, Minnesota, to acquire voting shares of St. Joseph Bancshares Acquisitions, Inc., Saint Joseph, Minnesota ("Company"), and thereby indirectly acquire voting shares of Sentry Bank, Saint Joseph, Minnesota; and Sherburne State Bank, Becker, Minnesota (the "Banks"). Additionally, Kimberly M. Juelke Revocable Trust, with Kimberly Juelke as trustee, both of Little Falls, Minnesota; Jason R. Ferche 2006 Revocable Trust, as amended, with Jason Ferche as trustee, both of Rice, Minnesota; Tamara L. Layne Revocable Trust, with Tamara O'Hara as trustee (formerly known as Tamara L. Layne), both of Sartell, Minnesota; and Cheryl A. Lumley Revocable Trust, as amended, with Cheryl Ferche as trustee (formerly known as Cheryl A. Lumley), both of Sartell, Minnesota, to join the Ferche Family Control Group by acquiring voting shares of Company, and thereby indirectly acquiring voting shares of the Banks. | Not available | Not available |
| STATE BANK OF BOTTINEAU HOLDING COMPANY | Change in Bank Control | Clinton D. Gjellstad, Velva, North Dakota, to acquire voting shares of State Bank of Bottineau Holding Company, Bottineau, North Dakota, and thereby indirectly acquire shares of State Bank of Bottineau, Bottineau, North Dakota. | 06/03/2025 | 06/03/2025 |
* Subject to the provisions of the Community Reinvestment Act
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 |
|---|---|---|---|---|---|
| FIRST MT BK, MISSOULA, MONTANA | 613156 | 06/23/2024 | 09/11/2023 | S | Int Small Bank |
| OPPORTUNITY BK OF MT, HELENA, MONTANA | 685676 | 04/29/2024 | 10/24/2022 | O | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||