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: 7
Federal Reserve Bank of: Chicago

Filings received during the week ending August 7, 2021

Filer Filing Type Filing Proposal End of Comment Period
BANK MICHIGAN FINANCIAL * 3A1 Bank Michigan Financial, Brooklyn, Michigan, to become a bank holding company by acquiring Bank Michigan, Brooklyn, Michigan.
Newspaper: Not available
Federal Register: Not available
DRAKE HOLDING COMPANY CIC Notice by the Richard R. Drake Family Trust - B, Radcliffe, Iowa, with Cynthia A. Shirar, Marshalltown, Iowa, Edwin A. Drake, West Des Moines, Iowa, and Bryan S. Drake, Radcliffe, Iowa, all individually and as co trustees, to join the Drake Family Control Group, a group acting in concert, to retain voting shares of Drake Holding Company, and indirectly retain voting shares of Security State Bank, both of Radcliffe, Iowa.
Newspaper: 08/02/2021
Federal Register: 08/04/2021
FIRST BANCORP OF TAYLORVILLE, INC. * 3A5 First Bancorp of Taylorville, Inc., Taylorville, Illinois to merge with Mackinaw Valley Financial Services, Inc. and thereby indirectly acquire First Security Bank, both of Mackinaw, Illinois.
Newspaper: 07/25/2021
Federal Register: 09/03/2021
LAKE CITY BANK * Branch Lake City Bank, Warsaw, Indiana, to establish a branch bank at 2608 California Road, Room 8102, Elkhart, Indiana 46514.
Newspaper: Not available
Federal Register: Not applicable
MILLEDGEVILLE BANCORP, INC. CIC Notice by Cheryl Allen, Sterling, Illinois; Gregg DeVries, Byron, Illinois; Sandra K. DeVries Trust, Sandra K. Devries, as trustee, both of Milledgeville, Illinois; and Roger P. DeVries Trust, Roger P. DeVries, as trustee, both of Milledgeville, Illinois, as a group acting in concert to retain and acquire 10 percent or more of the voting shares of Milledgeville Bancorp, Inc., and thereby indirectly control Milledgeville State Bank, both of Milledgeville, Illinois. In addition, Edward M. Tyne, Polo, Illinois; Kay F. Tyne, Polo, Illinois; Margaret A. Tyne, Polo, Illinois; and Courtney Tyne, Washington, D.C., as a group acting in concert to retain and acquire 25 percent or more of the voting shares of Milledgeville Bancorp, Inc., and thereby indirectly control Milledgeville State Bank, both of Milledgeville, Illinois.
Newspaper: Not available
Federal Register: 08/24/2021
NICOLET BANKSHARES, INC. * 3A5 Nicolet Bankshares, Inc., Green Bay, Wisconsin, to merge with County Bancorp Inc., Manitowoc, Wisconsin, and thereby indirectly acquire Investors Community Bank, Manitowoc, Wisconsin.
Newspaper: 08/18/2021
Federal Register: 08/25/2021
NORTH SHORE, MHC MHC Activity North Shore MHC, Waukegan, IL, is seeking the inclusion of non-interest bearing demand accounts in the offering priority for the upcoming MHC full conversion to be submitted in September 2021. By default, Regulation MM requires the exclusion of all non-interest bearing demand deposit accounts from the stock offering priority. North Shore MHC is requesting a review of their support for the request prior to submitting the full conversion application.
Newspaper: Not applicable
Federal Register: Not available
OTTAWA BANCORP, INC. * 3A1 Ottawa Bancorp, Inc., Ottawa, Illinois to become a bank holding company as a result of the conversion of Ottawa Savings Bank, Ottawa, Illinois from a federally chartered savings association to a state chartered bank.
Newspaper: Not available
Federal Register: Not available
SCHAUMBURG BANCSHARES, INC. CIC Notice by the Brian Herbstritt Revocable Trust, Chicago, Illinois, Brian Herbstritt, as trustee, River Forest, Illinois; the Deborah Herbstritt Revocable Trust, Chicago, Illinois, Deborah Maloney, as trustee, River Forest, Illinois; and the Amy Reardon Revocable Trust, Chicago, Illinois, Amy Reardon as Trustee, River Forest, Illinois to join the Herbstritt Family Control Group, a group acting in concert, to retain voting shares of Schaumburg Bancshares, and thereby indirectly retain voting shares of Heritage Bank of Schaumburg, both of Schaumburg, Illinois.
Newspaper: 08/05/2021
Federal Register: 08/03/2021
WOODTRUST FINANCIAL CORPORATION CIC The Steven C. Bell 2021 Investment Trust, Paula Bell, as trustee, both of Wisconsin Rapids, Wisconsin; and the Linda J. Growney Investment Trust, Madison, Wisconsin, Chad Kane, Wausau, Wisconsin; to join the Bell Family Control Group, a group acting in concert, to acquire voting shares of WoodTrust Financial Corporation and thereby indirectly retain voting shares of WoodTrust Bank, both of Wisconsin Rapids, Wisconsin. Additionally, Paula Bell, a current member of the Bell Family Control Group, to individually, and as trustee of the Steven C. Bell 2021 Investment Trust, both of Wisconsin Rapids, Wisconsin; acquire control of 25 percent or more of the voting shares of WoodTrust Financial Corporation and thereby indirectly retain voting shares of WoodTrust Bank, both of Wisconsin Rapids, Wisconsin.
Newspaper: Not available
Federal Register: 08/23/2021


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