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 November 7, 2020

Filer

Filing Type

Filing Proposal

End of Comment Period

FARMERS & MERCHANTS AGENCY, INC.

CIC

Todd J. Zaun, Sartell, Minnesota, individually and as trustee of the Todd J. Zaun Grantor Trust, as modified (TJZ Grantor Trust), and the Todd Zaun Revocable Trust, each of Sartell, Minnesota; and Steven M. Zaun, Pacific Palisades, California, individually and as trustee of the Steven M. Zaun Grantor Trust, as modified (SMZ Grantor Trust), and the SMZ Trust, each of Pacific Palisades, California; to retain or acquire 25 percent or more of the voting shares of Farmers & Merchants Agency, Inc., (Company) and thereby indirectly retain or acquire shares of Farmers & Merchants State Bank of Pierz (Bank), both of Pierz, Minnesota. Additionally, the TJZ Grantor Trust and SMZ Grantor Trust to acquire voting shares and thereby join the Zaun Family Group, a group acting in concert that owns voting shares of Company and thereby indirectly owns voting shares of Bank.

Newspaper:	Not available
Federal Register:	11/23/2020

LEACKCO BANK HOLDING COMPANY, INC.

CIC

Scott A. Erickson, Matthew P. Bock and Jamie L. Brown, all of Sioux Falls, South Dakota, intend to apply to the Federal Reserve Board for permission to: (1) retain individually, in the case of Scott A. Erickson; (2) acquire as investment trust advisor of the 2020 Jeffory A. Erickson Irrevocable Trust No. 1 ("Erickson Trust No. 1"), the 2020 Jeffory A. Erickson Irrevocable Trust No. 2 ("Erickson Trust No. 2"), the 2020 Jeffory A. Erickson Irrevocable Trust No. 3 ("Erickson Trust No. 3"), and the 2020 Jeffory A. Erickson Irrevocable Trust No. 4 ("Erickson Trust No. 4"), all of Sioux Falls, South Dakota, (collectively, the "Erickson Trusts"), in the case of Scott A. Erickson; (3) acquire as trust protector of the Erickson Trusts, in the case of Matthew P. Bock; (4) acquire as trustee of Erickson Trust No. 1, No. 2 and No. 4, in the case of Scott A. Erickson; and (5) acquire as trustee of Erickson Trust No. 3, in the case of Jamie L. Brown; control of 10 percent or more of the shares and thereby control of Leackco Bank Holding Company ("Leackco"), Wolsey, South Dakota. In addition, Scott A. Erickson, Matthew P. Bock, Jamie L. Brown and the Erickson Trusts intend to apply to the Federal Reserve Board for permission to join Jeffory A. Erickson in the Erickson family shareholder group that controls 25% or more of Leackco. Leackco controls American Bank & Trust, Wessington Springs, South Dakota.

Newspaper:	11/17/2020
Federal Register:	11/18/2020

PB BANCSHARES, INC.

* 3A1

PB Bancshares, Inc., Maplewood, Minnesota, to become a bank holding company by acquiring 100 percent of Premier Bank, Maplewood, Minnesota.

Newspaper:	11/07/2020
Federal Register:	11/20/2020

SECURITY BANCSHARES CO.

* 3A3

Security Bancshares Company, Glencoe, Minnesota, to acquire up to 15.27% of Flagship Financial Group, Inc., Eden Prairie, Minnesota, and thereby indirectly acquiring, Flagship Bank Minnesota, Wayzata, Minnesota.

Newspaper:	Not available
Federal Register:	12/04/2020

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 November 7, 2020

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 9
Federal Reserve Bank of: Minneapolis