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 March 28, 2020

Filer

Filing Type

Filing Proposal

End of Comment Period

STEARNS FINANCIAL SERVICES, INC. EMPLOYEE STOCK OWNERSHIP PLAN

* 3A3

Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota, to acquire additional stock and increase its ownership interest up to 20.66% of Stearns Financial Services, Inc., Saint Cloud, Minnesota, and thereby indirectly increase its control of Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala, National Association, Upsala, Minnesota, and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota.

Newspaper:	Not available
Federal Register:	04/29/2020

WESTERN BANCORPORATION, INC.

CIC

William S. Lewis, Hermantown, Minnesota, individually and as co-trustee of the Western National Bank and Affiliates Employee Stock Ownership Plan (co-trustee, Stephen Lewis), Duluth, Minnesota, to retain shares and join the Lewis family group, a group acting in concert, that controls Western Bancorporation, Inc., Duluth, Minnesota ("Company"). Company controls Cass Lake Company, Cass Lake, Minnesota, Western National Bank, Duluth, Minnesota, and Western National Bank of Cass Lake, Cass Lake, Minnesota.

Newspaper:	Not available
Federal Register:	04/06/2020

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 March 28, 2020

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 9
Federal Reserve Bank of: Minneapolis