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 November 1, 2025
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| FNB BANSHARES, INC. | Change in Bank Control | Brian David Reichter, Hawkeye, Iowa, individually and as co-trustee of The Bank 1st Employee Stock Ownership Plan ("ESOP"), West Union, Iowa, intends to acquire 10 percent or more of the shares and thereby control of FNB BanShares, Inc., West Union, Iowa; and together with ESOP; Tobin Lee Britt, West Union, Iowa, individually and as co-trustee of ESOP; Shannon Sue Schissel, West Union, Iowa, as co-trustee of ESOP; Kimberly Kay Reichter, Hawkeye, Iowa; and Cheryl Ann Reichter, Elkader, Iowa, a group acting in concert to acquire 25 percent or more of the shares and thereby control of FNB BanShares, Inc. FNB BanShares, Inc., controls Bank 1st, West Union, Iowa. | Not available | Not available |
| MERCANTILE BANK CORPORATION | * 3A3 | Mercantile Bank Corporation, Grand Rapids, Michigan, to acquire Eastern Michigan Financial Corporation, and thereby indirectly acquire Eastern Michigan Bank, both of Croswell, Michigan. | 11/15/2025 | Not available |
* 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 | ||