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: 7
Federal Reserve Bank of: Chicago

Filings received during the week ending May 8, 2021

Filer Filing Type Filing Proposal End of Comment Period
ALLY BANK PWI Ally Bank, Sandy, Utah, for prior approval to make up to $15 million public welfare investment, pursuant to section 208.22(b) of Regulation H.
Newspaper: Not applicable
Federal Register: Not applicable
CHEBELLE CORPORATION CIC Notice by Karlene M. Lindseth 2020 Chebelle Trust, Michael J. Lindseth, as trustee, both of Eden Prairie, Minnesota, to become a member of the Erusha Family Control Group (approved October 11, 2019), a group acting in concert, to retain voting shares of Chebelle Corporation and thereby indirectly control Chelsea Savings Bank, both of Belle Plaine, Iowa.
Newspaper: Not available
Federal Register: 05/07/2021
DRAKE HOLDING COMPANY CIC Notice by the Richard R. Drake Family Trust, Radcliffe, Iowa, with Cynthia A. Shirar, Marshalltown, Iowa, Edwin A. Drake, West Des Moines, Iowa, and Bryan S. Drake, Radcliffe, Iowa, all individually and as co trustees, to join the Drake Family Control Group, a group acting in concert, to retain voting shares of Drake Holding Company, and indirectly retain voting shares of Security State Bank, both of Radcliffe, Iowa.
Newspaper: Not available
Federal Register: 05/07/2021
FIRST NATIONAL BANCSHARES, INC. CIC Notice by the Foote family regarding their control of First National Bancshares, Inc., East Lansing, Michigan and indirect control of First National Bank of America, East Lansing, Michigan.
Newspaper: Not available
Federal Register: Not available
HIGH POINT FINANCIAL SERVICES, INC. * 3A3 High Point Financial Services, Inc., Forreston, Illinois to acquire Durand Bancorp, Inc., Durand, Illinois, and thereby indirectly acquire Durand State Bank, Durand, Illinois.
Newspaper: 05/27/2021
Federal Register: 06/07/2021
IOWA STATE BANK * 18C
* Branch
Iowa State Bank, Hull, Iowa to merge with Melvin Savings Bank, Melvin, Iowa and thereby establish branches at the following locations: 260 Main Street, Melvin, Iowa; and 721 2nd Avenue, Sibley, Iowa.
Newspaper: 06/04/2021
Federal Register: Not applicable
SOLON FINANCIAL, INC. CIC Notice by Karlene M. Lindseth 2020 Solon Trust, Michael J. Lindseth, as trustee, and the Michael J. Lindseth 2020 Solon Trust, Karlene M. Lindseth, as trustee, all of Eden Prairie, Minnesota, to become members of the Erusha Family Control Group (approved May 31, 2019), a group acting in concert, to retain voting shares of Solon Financial, Inc. and thereby indirectly Solon State Bank, both of Solon, Iowa.
Newspaper: Not available
Federal Register: 05/07/2021
VANGUARD GROUP, INC. CIC Notice by The Vanguard Group, Inc., Malvern, Pennsylvania, on behalf of itself, its subsidiaries and affiliates (together with The Vanguard Group, Inc., "Vanguard"), and the investment companies registered under the Investment Company Act of 1940, other pooled investment vehicles, and institutional accounts that are sponsored, managed, or advised by Vanguard, to acquire aggregate control of 15 percent or more of the voting shares of First Midwest Bancorp, Inc., parent of First Midwest Bank, both of Chicago, Illinois.
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

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