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: 9
Federal Reserve Bank of: Minneapolis

Filings received during the week ending January 25, 2014

Filer Filing Type Filing Proposal End of Comment Period
AUGUSTA FINANCIAL CORPORATION CIC The Ardath K. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, and The Glenn A. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, to each acquire 25% or more of the shares of Augusta Financial Corporation, Augusta, Wisconsin and thereby gain control of Unity Bank, Augusta, Wisconsin.
Newspaper: Not available
Federal Register: 02/06/2014
CAPRICE CORPORATION CIC The Ardath K. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, and The Glenn A. Solsrud 2012 Irrevocable Trust dated December 28, 2012, Robb B. Kahl, trustee, to each acquire 25% or more of the shares of Caprice Corporation, Augusta, Wisconsin, and thereby gain control of Unity Bank North, Red Lake Falls, Minnesota.
Newspaper: Not available
Federal Register: 02/06/2014
DUTTON BANCORPORATION, INC. CIC Notice by Gloria S. Sundquist, Cut Bank, Montana, to retain control of 10% or more of the voting shares of Dutton Bancorporation, Inc., Dutton, Montana, and thereby indirectly retain control of Dutton State Bank, Dutton, Montana. In addition, Carl E. Sundquist, Cut Bank, Montana; Mary Lou Gordon, Great Falls, Montana; and Carrie L. Vollrath, Conrad, Montana, to retain voting shares of Dutton Bancorporation, Inc., and thereby remain members of the Sundquist Family Group, which contols 10% or more of Dutton Bancorporation, Inc., Dutton, Monana. Notice by Mark Stephens, Dutton, Montana; Chris Stephens, Great Falls, Montana; Andrea S. Swing, Manhattan, Montana; and Tyler Stephens, Augusta, Montana, as a group acting in concert with Robert E. Stephens and Robert Stephens, Jr., to retain voting shares of Dutton Bancorporation, Inc. The Stephens Family Group controls 10% or more of Dutton Bancorporation, Inc., Dutton, Montana, which owns Dutton State Bank, Dutton, Montana.
Newspaper: 02/05/2014
Federal Register: 02/12/2014
HEADWATERS BANCORP, INC. CIC Change in Control notice by Mary Kathryn Fleming, Shorewood, Wisconsin, to acquire control of 10% or more of the shares of Headwaters Bancorp, Inc., Land O' Lakes, Wisconsin and thereby control Headwaters Bank, Land O' Lakes, Wisconsin. Also Jerry L. Olk, Land O' Lakes, Wisconsin, individually and as trustee, Jerry L. Olk Revocable Trust, Land O'Lakes, Wisconsin; Thomas L. Olk, Stevens Point, Wisconsin, individually and as trustee, and Elise E. Olk, Stevens Point, Wisconsin, individually and as trustee, Thomas L. & Elise E. Olk Revocable Trust, Stevens Point, Wisconsin; Susan Joanne Olk, San Francisco, California, individually and as trustee, Susan Joanne Olk Revocable Trust, San Francisco, California; R. Joseph Olk Irrevocable Trust, James Fogle, trustee, both of St. Louis, Missouri; Hillary Olk Dutcher, St. Louis, Missouri; Nathaniel Wood Olk, Chesterfield, Missouri; and Molly Wellborn Olk, Boulder, Colorado, to acquire or retain shares of Headwaters Bancorp., Inc., Land O' Lakes, Wisconsin, and thereby become or remain members of the Olk family control group, which controls 25% or more of the shares of Headwaters Bancorp., Inc., Land O' Lakes, Wisconsin.
Newspaper: 01/31/2014
Federal Register: 01/24/2014
NASB SHARES, INC. CIC Shirley R. Borgerding, Belgrade, Minnesota, individually and as part of the Borgerding Family Group acting in concert, to retain 25 percent or more of the shares and thereby control of NASB Shares, Inc., Belgrade, Minnesota, and thereby indirectly retain control of North American State Bank, Belgrade, Minnesota. In addition, the Shirley R. Borgerding Trust, the George N. Borgerding Trust, and Marjorie Borgerding as trustee of the James R. Borgerding Trust of 1994, intend to apply to the Federal Reserve Board for permission to join the Borgerding Family Group. The Borgerding Family Group includes Shirley R. Borgerding; George N. Borgerding, Belgrade, Minnesota; the Shirley R. Borgerding Trust and its co-trustees, George and Shirley Borgerding; the George N. Borgerding Trust and its co-trustees, George and Shirley Borgerding; Brian Borgerding, Belgrade, Minnesota; Paul Borgerding; Willmar, Minnesota; The James R. Borgerding Trust of 1994 and its trustee, Marjorie Borgerding, Fort Worth, Texas; Mary Gerding, Chicago, Illinois; and the Mark E. Borgerding Trust and its trustee, Mark E. Borgerding, Belgrade, Minnesota.
Newspaper: 02/10/2014
Federal Register: 01/28/2014
SAINT CLAIR AGENCY, INC. CIC Change in Control notice by Robert Kruse, Saint Clair, Minnesota, and William Miller, Saint Peter, Minnesota, to each acquire control of 25% or more of the shares of Saint Clair Agency, Inc., Saint Clair, Minnesota, and thereby control Saint Clair State Bank, Saint Clair, Minnesota.
Newspaper: Not available
Federal Register: 02/12/2014
STEARNS FINANCIAL SERVICES, INC. EMPLOYEE STOCK OWNERSHIP PLAN * 3A3 Stearns Financial Services, Inc., Employee Stock Ownership Plan, Saint Cloud, Minnesota, to retain and acquire additional stock and increase its ownership interest up to a maximum of 26% of Stearns Financial Services, Inc., Saint Cloud, Minnesota, and thereby indirectly increase its control of Stearns Bank National Association, Saint Cloud, Minnesota, Stearns Bank of Upsala, National Association, Upsala, Minnesota, and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota.
Newspaper: Not available
Federal Register: Not available


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
NONE

* 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