Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 9: Federal Reserve Bank of Minneapolis PDF
Filings received during the week ending March 2, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| FISHBACK FINANCIAL CORPORATION | Change in Bank Control | The Fishback-Mitchell FFC Living Trust established August 16, 2023, Amanda T. Mitchell and John T. Fishback, as co-trustees, all of San Francisco, California; to become members of the Fishback Family Shareholder Group, a group acting in concert, to retain voting shares of Fishback Financial Corporation, and thereby indirectly retain voting shares of First Bank & Trust, both of Brookings, South Dakota. | 03/21/2024 | 03/21/2024 |
| FLAGSHIP FINANCIAL GROUP, INC. | Change in Bank Control | Timothy J. Hoese, individually and as beneficiary with the power to vote of the Clayton W. Hoese Irrevocable Trust Under Agreement dated June 18, 1981, as modified September 12, 2023, all of Glencoe, Minnesota, to become a member of the Hoese/Schornack Family Shareholder Group, a group acting in concert, to retain voting shares of Flagship Financial Group, Inc., Eden Prairie, Minnesota, and thereby indirectly retain voting shares of Flagship Bank Minnesota, Wayzata, Minnesota, and Security Bank & Trust Company, Glencoe, Minnesota. | Not available | 03/21/2024 |
| STEARNS FINANCIAL SERVICES, INC. | Change in Bank Control | The Estate of Norman C. Skalicky, Maple Grove, Minnesota; the Norman C. Skalicky Revocable Trust u/a/d July 10, 2002; Las Vegas, Nevada; Kelly A. Skalicky, Las Vegas, Nevada, as personal representative of the Estate of Noman C. Skalicky and trustee of the Norman C. Skalicky Revocable Trust u/a/d July 10, 2002, to join a group acting in concert to retain voting shares of Stearns Financial Services, Inc., St. Cloud, Minnesota, and indirectly retain voting shares of Stearns Bank National Association, St. Cloud, Minnesota; Stearns Bank of Upsala, National Association, Upsala, Minnesota; and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota. | 03/23/2024 | 03/25/2024 |
* 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 | NONE |
|---|
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||