Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 7: Federal Reserve Bank of Chicago PDF
Filings received during the week ending July 26, 2025
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| DEVON BANCORP, INC. | Change in Bank Control | Donna Loundy, Glenview, Illinois, Joseph Loundy, Chicago, Illinois, Daniel Loundy, Ingleside, Illinois, David Loundy, Glencoe, Illinois, Alexander Loundy, Glencoe, Illinois, Samuel Loundy, Glencoe, Illinois, Ari Loundy, Chicago, Illinois, Ronen Loundy, Kenosha, Wisconsin, Elan Loundy, Boulder, Colorado, Irving Loundy, Chicago, Illinois and LFI Glenview, LLC, Glenview, Illinois a group acting in concert, to retain voting shares of Devon Bancorp, Inc. and thereby indirectly retain voting shares of Devon Bank, both of Chicago, Illinois. | Not available | Not available |
| GILMAN INVESTMENT CO. | Change in Bank Control | Notice by Donna Arendt, Oskaloosa, Iowa, as trustee of the Donald D. Arendt Qualified Terminable Interest Property Marital Trust I to acquire voting shares of Gilman Investment Company, Oskaloosa, Iowa, and thereby acquiring voting shares of Citizens Savings Bank, Marshalltown, Iowa. | Not available | Not available |
| UNITED COMMUNITY BANCORP, INC. | * 3A3 | United Community Bancorp, Inc., Chatham, Illinois to acquire 100 percent of Midland Bancshares, Inc., and thereby indirectly acquire Midland Community Bank, both of Kincaid, Illinois. | Not available | 08/21/2025 |
* 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 |
|---|---|---|---|---|---|
| BANK OF PONTIAC, PONTIAC, ILLINOIS | 930442 | 10/25/2024 | 07/15/2024 | S | Int Small Bank |
| CHELSEA ST BK, CHELSEA, MICHIGAN | 711548 | 06/10/2024 | 02/26/2024 | S | Int Small Bank |
| COMMUNITY ST BK, AVILLA, INDIANA | 502746 | 06/15/2024 | 03/04/2024 | S | Int Small Bank |
| GNB BK, GRUNDY CENTER, IOWA | 724744 | 02/08/2025 | 11/18/2024 | S | Int Small Bank |
| GUARANTY BK, SPRINGFIELD, MISSOURI | 3804535 | 03/31/2024 | 05/01/2023 | S | Int Small Bank |
| IOWA ST BK, HULL, IOWA | 982348 | 07/21/2024 | 04/01/2024 | S | Int Small Bank |
| TRI-COUNTY BK, BROWN CITY, MICHIGAN | 695349 | 04/06/2024 | 08/14/2023 | S | Int Small Bank |
| WASHINGTON ST BK, WASHINGTON, IOWA | 433943 | 05/05/2024 | 01/22/2024 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||