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 August 21, 2021

Filer Filing Type Filing Proposal End of Comment Period
BANK MICHIGAN FINANCIAL * 3A1 Bank Michigan Financial Corporation, Brooklyn, Michigan, to become a bank holding company by acquiring Bank Michigan, Brooklyn, Michigan.
Newspaper: Not available
Federal Register: 09/15/2021
BRADLEY BANCORP, INC. CIC Jeffrey T. Young, Centerville, Iowa, individually and as trustee of the John Bradley Young, Sr. Marital Non-Exempt Trust; the John Bradley Young, Sr. Family Exempt Trust; the John Bradley Young, Sr. Marital Exempt Trust; the Jeff Young 2021 Irrevocable Trust; and the J. Bradley Young, Jr., 2021 Irrevocable Trust, all of Centerville, Iowa, to retain voting shares of Bradley Bancorp, Inc. and thereby indirectly retain voting shares of Iowa Trust and Savings Bank, both of Centerville, Iowa. In addition, the J. Bradley Young, Jr., Trust, Iowa Trust and Savings Bank as trustee, and J. Bradley Young, Jr., as settlor with power to vote Holding Company shares to form the Young Family Control Group as a group acting in concert.
Newspaper: Not available
Federal Register: Not available
COMMUNITY FIRST FINANCIAL CORPORATION CIC Robert F. Hingst Kokomo, Indiana, along with Ann Hingst Vyas and Amit Vyas, Chicago, Illinois, to become members of the Hingst Family Control Group, a group acting in concert, to acquire 10 percent or more of the voting shares of Community First Financial Corporation and thereby indirectly acquire voting shares of Community First Bank of Indiana, both of Kokomo, Indiana.
Newspaper: 09/04/2021
Federal Register: 09/07/2021
FENTURA FINANCIAL, INC. * 3A3 Fentura Financial, Inc., Fenton, Michigan, to acquire 100 percent of Farmers State Bank of Munith, Munith, Michigan.
Newspaper: 09/17/2021
Federal Register: Not available
FOSTORIA BANKSHARES, INC. CIC The CAOS Family Irrevocable Trust, Teresa J. Simington and Bradley D. Simington, as co-trustees, and Bradley D. Simington, as an individual, all of Milford, IA to form the CAOS Family Irrevocable Trust control group, a group acting in concert, and to retain voting shares of Fostoria Bankshares, Inc., and thereby indirectly retain voting shares of Farm Savings Bank, both of Fostoria, Iowa.
Newspaper: 09/01/2021
Federal Register: 08/31/2021
MILLEDGEVILLE BANCORP, INC. CIC Cheryl Allen, Sterling, Illinois; Gregg DeVries, Byron, Illinois; and Sandra K. DeVries Trust, Sandra K. Devries, as trustee, and Roger P. DeVries Trust, Roger P. DeVries, as trustee, all of Milledgeville, Illinois; as the DeVries Family Control Group, a group acting in concert; and Edward M. Tyne, Kay F. Tyne, and Margaret A. Tyne, all of Polo, Illinois; and Courtney Tyne, Washington, D.C.; as the Tyne Family Control Group, a group acting in concert, to acquire additional voting shares of Milledgeville Bancorp, Inc., and thereby indirectly acquire voting shares of Milledgeville State Bank, both of Milledgeville, Illinois.
Newspaper: 08/25/2021
Federal Register: 08/25/2021
NORTH SHORE, MHC MHC Activity North Shore MHC, Waukegan, IL, is seeking the inclusion of non-interest bearing demand accounts in the offering priority for the upcoming MHC full conversion to be submitted in September 2021. By default, Regulation MM requires the exclusion of all non-interest bearing demand deposit accounts from the stock offering priority. North Shore MHC is requesting a review of their support for the request prior to submitting the full conversion application.
Newspaper: Not applicable
Federal Register: Not available
OLD SECOND BANCORP, INC. * 3A3 Old Second Bancorp, Inc., Aurora, Illinois to acquire 100 percent of West Suburban Bancorp, Inc., Lombard, Illinois and thereby indirectly acquire West Suburban Bank, both of Lombard, Illinois.
Newspaper: Not available
Federal Register: Not available
OTTAWA BANCORP, INC. * 3A1 Ottawa Bancorp, Inc., Ottawa, Illinois, to become a bank holding company as a result of the conversion of Ottawa Savings Bank, Ottawa, Illinois, from a federally chartered savings association to a state chartered bank.
Newspaper: Not available
Federal Register: Not available
WOODTRUST FINANCIAL CORPORATION CIC The Steven C. Bell 2021 Investment Trust, Paula Bell, as trustee, both of Wisconsin Rapids, Wisconsin; and the Linda J. Growney Investment Trust, Madison, Wisconsin, Chad Kane, Wausau, Wisconsin; to join the Bell Family Control Group, a group acting in concert, to acquire voting shares of WoodTrust Financial Corporation and thereby indirectly retain voting shares of WoodTrust Bank, both of Wisconsin Rapids, Wisconsin. Additionally, Paula Bell, a current member of the Bell Family Control Group, to individually, and as trustee of the Steven C. Bell 2021 Investment Trust, both of Wisconsin Rapids, Wisconsin; acquire control of 25 percent or more of the voting shares of WoodTrust Financial Corporation and thereby indirectly retain voting shares of WoodTrust Bank, both of Wisconsin Rapids, Wisconsin.
Newspaper: Not available
Federal Register: 08/23/2021


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 Fourth Quarter of 2021 (October 1, 2021 - December 31, 2021) and First Quarter of 2022 (January 1, 2022 - March 31, 2022)

Institution Location Quarter
CEDAR RAPIDS B&TC CEDAR RAPIDS, IOWAFourth Quarter of 2021
FIRST HERITAGE BK SHENANDOAH, IOWAFourth Quarter of 2021
GNB BK GRUNDY CENTER, IOWAFourth Quarter of 2021
GRUNDY BK MORRIS, ILLINOISFourth Quarter of 2021
LOGAN ST BK LOGAN, IOWAFourth Quarter of 2021
ROLLING HILLS B&T ATLANTIC, IOWAFourth Quarter of 2021
FIRST BK OF BERNE BERNE, INDIANAFirst Quarter of 2022
FIRST CMNTY BK HARBOR SPRINGS, MICHIGANFirst Quarter of 2022
FIRST EAGLE BK CHICAGO, ILLINOISFirst Quarter of 2022
FIRST ST BK EASTPOINTE, MICHIGANFirst Quarter of 2022
HARTSBURG ST BK HARTSBURG, ILLINOISFirst Quarter of 2022
SAINT ANSGAR ST BK SAINT ANSGAR, IOWAFirst Quarter of 2022
STATE BK SPENCER, IOWAFirst Quarter of 2022

* 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