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 April 22, 2023
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| A. M. SAYLOR, INCORPORATED | Change in Bank Control | David Oren Nelson Living Trust dated January 28, 2022, Memphis, Tennessee, David Oren Nelson, Somerville, Tennessee, as trustee, to acquire voting shares of A.M. Saylor, Incorporated, and thereby indirectly control First Hampton Bank, both of Hampton, Iowa. | Not available | 04/26/2023 |
| GRINNELL BANCSHARES, INC. | * 3A3 | Grinnell Bancshares, Inc., Grinnell, Iowa, to acquire The Colorado Bank & Trust Company of La Junta, La Junta, Colorado. | Not available | 05/05/2023 |
| Multi-Bank Services, Ltd. | * 3A1 Election (Domestic) | Multi-Bank Services, Ltd., Southfield, Michigan, to become a bank holding company by acquiring the voting shares of Florence Bancorporation, Inc., Florence, Wisconsin and thereby indirectly acquire Great North Bank, Florence, Wisconsin. | 05/27/2023 | Not available |
| SAVANNA-THOMSON INVESTMENT, INC. | Change in Bank Control | Notice by The First National Bank in Sioux Falls, Sioux Falls, South Dakota, as trustee of the Kehl Family 2009 Trust, Sioux Falls, South Dakota, the Ruth A. Kehl Grandchildrens' Trust Dated November 5, 1997, Sioux Falls, South Dakota, the Ruth A. Kehl Grandchildrens' Trust FBO Cody J. Kehl Dated November 5, 1997, Sioux Falls, South Dakota, the Ruth A. Kehl Grandchildrens' Trust FBO Jacob R. Winter Dated November 5, 1997, Sioux Falls, South Dakota, and the Ruth A. Kehl Grandchildrens' Trust FBO Tanner C. Kehl Dated November 5, 1997, Sioux Falls, South Dakota; Kevin A. Kehl, Dubuque, Iowa, as trustee of the Kevin A. Kehl Trust May 15, 2017, Dubuque, Iowa; and Krystina L. Moore, Tiffin, Iowa, as a group acting in concert, to join the Kehl Family Control Group to acquire voting shares of Savanna-Thomson Investment, Inc., Savanna, Illinois, and thereby indirectly acquire voting shares of Savanna-Thomson Bank, Thomas, Illinois. Additionally, Daniel J. Kehl, Solon, Iowa, to join the Kehl Family Control Group, to retain voting shares of Savanna-Thomson Investment, Inc., and thereby indirectly acquire voting shares of Savanna-Thomson State Bank. | Not available | 04/17/2023 |
| SERVBANC HOLDCO, INC. | Change in Bank Control | Notice by Stavros Papastavrou and Sofia Elizabeth Papastavrou, as co-trustees of the Jennifer Papastavrou 2023 Trust F/B/O Stavros Papastavrou, and Jennifer Papastavrou and Nicole Katerina Papastavrou, as co-trustees of the Stavros Papastavrou 2023 Trust F/B/O Jennifer Papastavrou, all of Old Westbury, New York, to join Stavros Papastavrou, thereby creating a group acting in concert, and acquire control of ServBanc Holdco, Inc., Phoenix, Arizona, and thereby indirectly acquire control of Allied First Bank, Oswego, Illinois. | Not available | Not available |
| SWORD FINANCIAL CORPORATION | Change in Bank Control | The Frederick and Ruth Schwertfeger Irrevocable Trust of 2019, Wauwatosa, Wisconsin, Frederick C. Schwertfeger, Elm Grove, Wisconsin and Alexandra G. Solanki, Wauwatosa, Wisconsin, as trustees, to join the Schwertfeger Family Control Group, a group acting in concert, and retain voting shares of Sword Financial Corporation, Horicon, Wisconsin and thereby indirectly retain voting shares in Horicon Bank, Horicon, Wisconsin, and Cornerstone Community Bank, Grafton, Wisconsin. Alexandra G. Solanki, Wauwatosa, Wisconsin, to become the largest individual shareholder by becoming co-trustee of the Horicon Bank Profit Sharing & Employee Stock Ownership Plan and thereby acquiring voting shares of Sword Financial Corporation, Horicon, Wisconsin and indirectly acquiring voting shares of Horicon Bank, Horicon, Wisconsin and Cornerstone Community Bank, Grafton, Wisconsin. | Not available | Not available |
* 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 |
| FIRST BK OF BERNE, BERNE, INDIANA | 312244 | 05/07/2022 | 01/31/2022 | S | Int Small Bank |
| FIRST ST BK, EASTPOINTE, MICHIGAN | 113740 | 09/12/2022 | 03/14/2022 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||
Last Update: April 27, 2023