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 October 7, 2023
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| BANK OF PONTIAC | * 18C * Branch (Domestic) | Bank of Pontiac, Pontiac, Illinois ("Bank of Pontiac") to purchase certain assets and assume certain liabilities of Farmers-Merchants Bank of Illinois, Joy, Illinois ("Farmers-Merchants"), pursuant to Section 18(c) of the Federal Deposit Insurance Act. In connection with the purchase and assumption, Farmers-Merchants' offices located at 101 North Taft Street, Paxton, Illinois; 100 East Main Street, Melvin Illinois; and 116 South Pine Street, Piper City, Illinois, will become branch offices of Bank of Pontiac, pursuant to Section 9 of the Federal Reserve Act. | 11/03/2023 | Not applicable |
| CBI BANK & TRUST | * 18C * Branch (Domestic) | CBI Bank & Trust, Muscatine, Iowa, to purchase certain assets and assume certain liabilities of Farmers Merchants Bank of Illinois, Joy, Illinois, and to thereby establish a branch located at 101 W Main Street, Joy, Illinois. | Not available | Not applicable |
| FIRST LACON CORP. | Change in Bank Control | Notice by Alyssa T. Kanive, Orono, Minnesota, John N. Kanive, Minnetonka, Minnesota, and Ryan J. Kanive, Orono, Minnesota, as a group acting in concert, to join the Nelson Family Control Group to retain voting shares of First Lacon Corp. and thereby indirectly acquire voting shares of The First National Bank of Lacon, both of Lacon, Illinois. In addition, The Louise N. Kanive Trust, Louise N. Kanive as trustee, both of Orono, Minnesota, to acquire voting shares of First Lacon Corp. and thereby indirectly control The First National Bank of Lacon. | 10/11/2023 | Not available |
| GRINNELL BANCSHARES, INC. | Change in Bank Control | Notice by F. Austin Jones, individually and as co-trustee of the David A. Jones Irrevocable Trust and the F. Austin Jones Irrevocable Trust, all of Grinnell, Iowa, to retain voting shares of Grinnell Bancshares, Inc. and thereby indirectly retain voting shares of Grinnell State Bank, both of Grinnell, Iowa. | Not available | 10/04/2023 |
| OXFORD BANK CORPORATION | Change in Bank Control | Richard K. Thompson, Sterling Heights, Michigan; Thomas J. Hinsberg, Rochester, Michigan; and Robert A. Clemente, West Bloomfield, Michigan, as individuals; Richard K. Thompson Irrevocable Trust 2022, Troy, Michigan, Thomas J. Hinsberg, Rochester, Michigan as trustee; OJT Irrevocable Trust, Troy, Michigan, Robert A. Clemente, West Bloomfield, Michigan as trustee to retain voting shares of Oxford Bank Corporation and thereby indirectly retain voting shares of Oxford Bank, both of Oxford, Michigan. | Not available | 10/19/2023 |
| PETEFISH, SKILES BANCSHARES, INC. | Change in Bank Control | Notice by George B. Bley II, Palm Harbor, FL, individually, and acting in concert with the Bley Family Control Group for approval to retain the voting shares of Petefish, Skiles Bancshares, Inc. and thereby indirectly retain voting shares of Petefish, Skiles & Company, both of Virginia, Illinois. | Not available | Not available |
| TERRE HAUTE SAVINGS MHC, INC. | * 3A3 | Terre Haute Savings MHC, Inc., Terre Haute, Indiana to acquire First Savings Bank, Danville, Illinois. | 08/17/2023 | Not available |
| TREYNOR BANCSHARES, INC. | * 3A3 | Treynor Bancshares, Inc., Treynor ("TBI"), Iowa, to acquire an additional 57,142.86 voting shares of TS Contrarian Bancshares Inc. ("CBI"), Treynor, Iowa, through a purchase of those shares from CBI shareholder, GGC, LLP, Council Bluffs, Iowa. In addition, the Joshua Guttau Generational Irrevocable Trust ("Josh Guttau Trust") and the Heidi A. Guttau Generational Irrevocable Trust ("Heidi Guttau Trust") are proposing to acquire 71,428.57 shares each of CBI and become a part of the Guttau Family Control Group , through a purchase of those CBI shares from GGC, LLP. Simultaneously with the previously described purchases of GGC LLP's CBI shares, CBI will be merged into TBI with TBI being the survivor. In the merger, TBI's investment in CBI will be eliminated and the Josh Guttau Trust and Heidi Guttau Trust shares of CBI and other minority shareholders will be exchanged for common voting shares in TBI. The Josh Guttau Trust and Heidi Guttau Trust will also need to be added to the Guttau Family Control Group through a Change in Bank Control | Not available | Not available |
| VILLAGE INVESTMENT COMPANY | Listed DeNovo * 3A1 | Notice by Libertyville Savings Bank Employee Stock Ownership Trust, Fairfield, Iowa to become a bank holding company by acquiring 27.02% of Village Investment Company and thereby indirectly acquiring The Libertyville Savings Bank, both of Fairfield, Iowa. In addition, Village Investment Company to engage de novo in the nonbanking activities of making, acquiring, brokering or servicing loans or other extensions of credit, pursuant to section 225.28(b)(1) of Regulation Y. | Not available | 10/21/2023 |
* 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 |
|---|---|---|---|---|---|
| CBI B&TC, MUSCATINE, IOWA | 830542 | 11/14/2022 | 07/18/2022 | S | Int Small Bank |
| NORTHSTAR BK, BAD AXE, MICHIGAN | 2958972 | 07/10/2023 | 02/06/2023 | S | Int Small Bank |
| ONE CMNTY BK, OREGON, WISCONSIN | 247140 | 04/28/2023 | 11/28/2022 | S | Int Small Bank |
| VISIONBANK OF IA, AMES, IOWA | 269049 | 05/21/2023 | 02/27/2023 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||
Last Update: October 12, 2023