Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

District: 9
Federal Reserve Bank of: Minneapolis

Filings received during the week ending January 18, 2020

Filer

Filing Type

Filing Proposal

End of Comment Period

METRO NORTH BANCSHARES, INC.

CIC

Change in Control Notice by John E. Babcock, Anoka, Minnesota, to retain control of 10 percent or more of the shares of Metro North Bancshares, Inc. and thereby indirectly retain control of The Bank of Elk River, both of Elk River, Minnesota.

Newspaper:	Not available
Federal Register:	01/17/2020

STEARNS FINANCIAL SERVICES, INC.

CIC

A Change in Control Notice by the following persons (collectively, the "Skalicky Family Group"): Kelly A. Skalicky, New York, New York, individually and as co-trustee and/or trustee of the following trusts: the Norman C. Skalicky 2019 Revocable Trust, St. Cloud, Minnesota; the Kelly A. Skalicky 2019 GRAT, New York, New York; and the 2019 Skalicky Family Gift Trust FBO Trenton Dean Skalicky, New York, New York; and Norman C. Skalicky, as co-trustee of the Norman C. Skalicky 2019 Revocable Trust, both of St. Cloud, Minnesota; to retain 25 percent or more of the shares and thereby control of Stearns Financial Services, Inc., ("SFSI BHC"), St. Cloud, Minnesota, and thereby indirectly control Stearns Bank NA, St Cloud, Minnesota; Stearns Bank Holdingford NA, Holdingford, Minnesota; and Stearns Bank NA, Upsala, Minnesota. In addition, Cheryl R. Ryan, individually and as trustee of the Cheryl R. Ryan 2019 GRAT, both of Elk River, Minnesota; Jeffery Dean Skalicky, individually and as trustee of the Jeffery D. Skalicky 2019 GRAT, both of Rosholt, South Dakota; Jan M. Hanson, Duvall, Washington; Johanna A. Ryan, Brooklyn, New York; and Barrett C. Skalicky Doss, as trustee of the 2012 Gift Trust FBO Barrett Chelsea Skalicky Doss, both of Brooklyn, New York; are participating in the change in control notice to retain voting shares of SFSI BHC and for retroactive approval to join the Skalicky Family Group, which controls 25% or more of SFSI.

Newspaper:	Not available
Federal Register:	Not available

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
NONE

CRA Examinations scheduled for Quarter of

Institution	Location	Quarter
NONE

* Subject to the provisions of the Community Reinvestment Act

District: 9 Federal Reserve Bank of: Minneapolis

Filings received during the week ending January 18, 2020

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 9
Federal Reserve Bank of: Minneapolis