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 October 31, 2020

Filer Filing Type Filing Proposal End of Comment Period
AMERIPRISE FINANCIAL, INC. SLHC Activity Notice by Ameriprise Financial, Inc., Minneapolis, Minnesota, for its indirect engagement through its subsidiaries Threadneedle Asset Management Holdings Limited; Threadneedle Portfolio Services Limited; Threadneedle Property Investments Limited, all of London, United Kingdom; Threadneedle Investments (Channel Islands) Limited, St. Helier, Jersey; and Lionstone Partners, LLC, Houston, Texas, in real estate activities under Sections 238.53(b)(4)-(b)(8) of Regulation LL.
Newspaper: Not applicable
Federal Register: 11/13/2020
CANDO HOLDING COMPANY, INC. 4c8 Cando Holding Company, Inc., Cando, North Dakota, to indirectly retain voting shares of AccuData Services, Inc., Park River, North Dakota, through its subsidiary bank, First State Bank of Cando, Cando, North Dakota, and engage in certain data processing activities pursuant to Section 225.28(b)(14)(i) of Regulation Y.
Newspaper: Not applicable
Federal Register: 11/16/2020
CHARTER BANK * 18C
* Branch
Charter Bank, Eau Claire, Wisconsin, to purchase certain assets and assume certain liabilities of the Chetek branch of Bank First National Association, Manitowoc, Wisconsin and incident thereto proposes to establish a branch at 621 2nd Street, Chetek, Wisconsin.
Newspaper: Not available
Federal Register: Not applicable
FARMERS & MERCHANTS AGENCY, INC. CIC Todd J. Zaun, Sartell, Minnesota, individually and as trustee of the Todd J. Zaun Grantor Trust, as modified (TJZ Grantor Trust), and the Todd Zaun Revocable Trust, each of Sartell, Minnesota; and Steven M. Zaun, Pacific Palisades, California, individually and as trustee of the Steven M. Zaun Grantor Trust, as modified (SMZ Grantor Trust), and the SMZ Trust, each of Pacific Palisades, California; to retain or acquire 25 percent or more of the voting shares of Farmers & Merchants Agency, Inc., (Company) and thereby indirectly retain or acquire shares of Farmers & Merchants State Bank of Pierz (Bank), both of Pierz, Minnesota. Additionally, the TJZ Grantor Trust and SMZ Grantor Trust to acquire voting shares and thereby join the Zaun Family Group, a group acting in concert that owns voting shares of Company and thereby indirectly owns voting shares of Bank.
Newspaper: Not available
Federal Register: Not available
LEACKCO BANK HOLDING COMPANY, INC. CIC Scott A. Erickson, Matthew P. Bock and Jamie L. Brown, all of Sioux Falls, South Dakota, intend to apply to the Federal Reserve Board for permission to: (1) retain individually, in the case of Scott A. Erickson; (2) acquire as investment trust advisor of the 2020 Jeffory A. Erickson Irrevocable Trust No. 1 ("Erickson Trust No. 1"), the 2020 Jeffory A. Erickson Irrevocable Trust No. 2 ("Erickson Trust No. 2"), the 2020 Jeffory A. Erickson Irrevocable Trust No. 3 ("Erickson Trust No. 3"), and the 2020 Jeffory A. Erickson Irrevocable Trust No. 4 ("Erickson Trust No. 4"), all of Sioux Falls, South Dakota, (collectively, the "Erickson Trusts"), in the case of Scott A. Erickson; (3) acquire as trust protector of the Erickson Trusts, in the case of Matthew P. Bock; (4) acquire as trustee of Erickson Trust No. 1, No. 2 and No. 4, in the case of Scott A. Erickson; and (5) acquire as trustee of Erickson Trust No. 3, in the case of Jamie L. Brown; control of 10 percent or more of the shares and thereby control of Leackco Bank Holding Company ("Leackco"), Wolsey, South Dakota. In addition, Scott A. Erickson, Matthew P. Bock, Jamie L. Brown and the Erickson Trusts intend to apply to the Federal Reserve Board for permission to join Jeffory A. Erickson in the Erickson family shareholder group that controls 25% or more of Leackco. Leackco controls American Bank & Trust, Wessington Springs, South Dakota.
Newspaper: Not available
Federal Register: 11/18/2020
PB BANCSHARES, INC. * 3A1 PB Bancshares, Inc., Maplewood, Minnesota, to become a bank holding company by acquiring 100 percent of Premier Bank, Maplewood, Minnesota.
Newspaper: Not available
Federal Register: 11/20/2020
SECURITY BANCSHARES CO. * 3A3 Security Bancshares Company, Glencoe, Minnesota, to acquire up to 15.27% of Flagship Financial Group, Inc., Eden Prairie, Minnesota, and thereby indirectly acquiring, Flagship Bank Minnesota, Wayzata, Minnesota.
Newspaper: Not available
Federal Register: 12/04/2020


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

* 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