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 March 30, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| FIRST NATIONAL BANCSHARES, INC. | Change in Bank Control | Notice by Mamie M. Foote Trust No. 1, with Mamie M. Foote as Trustee, of Golden Oak, Florida; Foote Shingleton 2004 Irrevocable Trust fbo Elizabeth Shingleton Glomsrud; Foote Shingleton 2004 Irrevocable Trust fbo Jennifer Shingleton Ewing; Foote Shingleton 2004 Irrevocable Trust, fbo Rebecca Shingleton, each of Sanibel, Florida, with Kenneth Foote as Trustee of each of these trusts, of Brighton, Michigan; The William R. Thomas Trust dated 8/26/20 with William Thomas and Megan Furman as Trustees, both of Ann Arbor, Michigan; and Abigail Thomas King, of Charlotte, North Carolina, as a group acting in concert, to join the Foote Family Control Group to acquire voting shares of First National Bancshares, Inc. and thereby indirectly control First National Bank of America, both of East Lansing, Michigan. | 04/21/2024 | Not available |
| GREENFIELD BANCORPORATION, LTD. | Change in Bank Control | The Jim and Peggy Scott Trust, James L. Scott and Peggy A. Scott as co-trustees, all of Fontanelle, Iowa; together with, Brad A. Lydon and Jana F. Lydon, both of Fontanelle, Iowa; and Jessica C. Christensen and Joshua J. Christensen , both of Greenfield, Iowa, together as a group acting in concert, to retain control of the voting share of Greenfield Bancorporation, Ltd, Greenfield, Iowa and thereby indirectly control Union State Bank, Greenfield, Iowa. | Not available | 03/19/2024 |
| SmartBiz Bancshares | * 3A1 | Billfloat, Inc., dba SmartBiz Loans, San Francisco, California, to become a bank holding company through merging its wholly-owned subsidiary, Caletta Merger Sub, Inc., Wilmington, Delaware, with United Community Bancshares, Inc., Northbrook, Illinois, and thereby indirectly acquiring control of Centrust Bank, N.A., Northbrook, Illinois. Following that merger, United Community Bancshares would merge with SmartBiz, with United Community Bancshares surviving. United Community Bancshares would then be renamed SmartBiz Bancshares, Inc., and Centrust Bank, N.A. would be renamed SmartBiz Bank, N.A. | Not available | 04/12/2024 |
| TRI-COUNTY FINANCIAL GROUP, INC. | Change in Bank Control | Castle Creek Capital Partners VI, LP, San Diego, California, to acquire voting shares of Tri-County Financial Group, Inc., and thereby indirectly acquire voting shares of First State Bank, both of Mendota, Illinois. | Not available | 02/12/2024 |
* 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 |
|---|---|---|---|---|---|
| EASTERN MI BK, CROSWELL, MICHIGAN | 643340 | 01/20/2024 | 07/17/2023 | S | Int Small Bank |
| GUARANTY BK, SPRINGFIELD, MISSOURI | 3804535 | 03/31/2024 | 05/01/2023 | 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 |
| OXFORD BK, OXFORD, MICHIGAN | 448040 | 02/16/2024 | 05/15/2023 | 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 | ||