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 1, 2006

Filer Filing Type Filing Proposal End of Comment Period
CORNERSTONE HOLDING COMPANY, INC. * 3A1 Cornerstone Holding Company, Inc., Fargo, North Dakota, to acquire 100 percent of Citizens, Incorporated, Enderlin, North Dakota and thereby indirectly acquire Citizens State Bank, Enderlin, North Dakota.
Newspaper: Not available
Federal Register: 04/23/2006
EVERGREEN BANCSHARES, INC. 3A1 Evergreen Bancshares, Two Harbors, Minnesota to become a bank holding company by acquiring 100 percent of the voting shares of The Lake Bank, Two Harbors, Minnesota.
Newspaper: Not applicable
Federal Register: Not applicable
FORSTROM BANCORPORATION, INC. * 3A3 Forstrom Bancorporation, Inc., Clara City, Minnesota, to acquire 100 percent of the outstanding shares of Yellow Medicine Bancshares, Inc., Granite Falls, Minnesota, and thereby indirectly acquire Yellow Medicine County Bank, Granite Falls, Minnesota.
Newspaper: Not available
Federal Register: 04/17/2006
FSB BANCORP, INC. * 3A1 FSB Bancorp, Inc., Sioux Falls, South Dakota, to become a bank holding company by acquiring 100 percent of Farmers State Bank of Turton, South Dakota.
Newspaper: Not available
Federal Register: 04/21/2006
JAG FINANCIAL, INC. * 3A1 JAG Financial, Inc., St. Paul, Minnesota to become a bank holding company by acquiring 100 percent of The EastBank Corporation, Minneapolis, Minnesota, and thereby indirectly acquire 100 percent of EastBank, Minneapolis, Minnesota.
Newspaper: Not available
Federal Register: 04/23/2006
SALISH AND KOOTENAI BANCORPORATION * 3A1 Salish and Kootenai Bancorporation, Polson, Montana, to become a bank holding company by acquiring 100 percent of the capital stock of Eagle Bank, Polson, Montana, a de novo bank.
Newspaper: 03/11/2006
Federal Register: 03/03/2006


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
FLINT CREEK VALLEY BK, PHILIPSBURG, MONTANA 619457 12/13/2005 03/28/2006 S Small Bank


CRA Examinations scheduled for     Quarter of

Institution Location
NONE

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