Federal Reserve Release, H2, Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received

District: 9
Federal Reserve Bank of: Minneapolis

Filings received during the week ending January 16, 2016

Filer

Filing Type

Filing Proposal

End of Comment Period

CITIZENS INVESTMENT CO., INC.

CIC

David L. Friedrichsen, Palm Harbor, Florida, and Robin R. Hanson, Farmington, Minnesota, to each acquire control of 25 percent or more of the shares of Citizens Investment Co., Inc., Glenville, Minnesota (Company), and thereby indirectly gain control of Citizens State Bank of Glenville, Glenville, Minnesota (Bank), as trustees of The Friedrichsen DLF Irrevocable Inheritance Trust dated December 8, 2015, Farmington, Minnesota (DLF Trust); The Friedrichsen KEF Irrevocable Inheritance Trust dated December 8, 2015, Farmington, Minnesota (KEF Trust); The Friedrichsen KMC Irrevocable Inheritance Trust dated December 8, 2015, Farmington, Minnesota (KMC Trust); and The Friedrichsen RRH Irrevocable Inheritance Trust dated December 8, 2015, Farmington, Minnesota (RRH Trust). In addition, David Friedrichsen, Robin Hanson, DLF Trust, KEF Trust, KMC Trust, and RRH Trust to retain and acquire Company shares, and thereby join the Friedrichsen family shareholder group acting in concert, which directly controls 25 percent or more of the shares of Company, and indirectly controls Bank.

Newspaper:	Not available
Federal Register:	01/29/2016

FLATHEAD LAKE BANCORPORATION, INC.

CIC

Retroactive change in control notice by Richard Pedersen, Everett, Washington, to retain control of 25 percent or more of the shares of Flathead Lake Bancorporation,Inc., Polson, Montana, and thereby indirectly retain control of First Citizens Bank of Polson, National Association, Polson, Montana.

Newspaper:	01/15/2016
Federal Register:	01/13/2016

FRANDSEN FINANCIAL CORPORATION

* 3A3

Frandsen Financial Corporation, Arden Hills, Minnesota, to acquire 100 percent of Provincial Bank, Lakeville, Minnesota.

Newspaper:	02/07/2016
Federal Register:	02/04/2016

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

District: 9 Federal Reserve Bank of: Minneapolis

Filings received during the week ending January 16, 2016

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 9
Federal Reserve Bank of: Minneapolis