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 October 2, 2021

Filer Filing Type Filing Proposal End of Comment Period
BANK MICHIGAN FINANCIAL * 18C
* 3A1
Bank Michigan Financial Corporation, Brooklyn, Michigan, to become a bank holding company by acquiring Bank Michigan, Brooklyn, Michigan.
Newspaper: 10/31/2021
Federal Register: 09/15/2021
CIB MARINE BANCSHARES, INC. CIC Stilwell Activist Investments, L.P, Stilwell Activist Fund, L.P., and Stilwell Value Partners VII, L.P., known as The Stilwell Group, all of New York, New York; Stilwell Value LLC, New York, New York, the general partner of each of the limited partnerships; Joseph D. Stilwell, San Juan, Puerto Rico, managing member of Stilwell Value LLC, a group acting in concert, to acquire up to 14.99 percent of voting shares of CIB Marine Bancshares, Inc., Brookfield, Wisconsin, and thereby indirectly acquire voting shares of CIBM Bank, Champaign, Illinois.
Newspaper: Not available
Federal Register: 10/12/2021
FIRST LENA CORPORATION CIC Dean A. Holmes General Trust, Dean Holmes as trustee, Lena, Illinois, Arlene E. Holmes General Trust, Arlene E. Holmes as trustee, Lena, Illinois, Neil Holmes, Lena, Illinois, Craig Holmes, Pearl City. Illinois, David Holmes, Erie, Pennsylvania, Kevin Holmes, Mesa, Arizona, and Kay Overson, San Diego, California, as a group acting in concert, to join the Holmes family control group, and to retain 10 percent or more of First Lena Corporation, Lena, Illinois. First Lena Corporation controls Citizens State Bank, Lena, Illinois.
Newspaper: Not available
Federal Register: Not available
HOMETOWN BANCORP, LTD. CIC Ralph C. Stayer, Naples, Florida, together with Kimberly L. Johnson, Naples, Florida, and Lisa M. Reilly, Phoenix, Arizona, both as trustees of the RFS 2010 Irrevocable Trust F/B/O Ralph C. Stayer, Fond du Lac, Wisconsin, and the Shelly A. Stayer 2010 Childrens Trust, Fond du Lac, Wisconsin; Brittany B. Wagner, Brooke B. Stayer-Wagner, Jonathan B. Wagner, all of Mequon, Wisconsin; and Michael Stayer-Suprick, Sheboygan, Wisconsin, to join the Stayer Family Control Group and retain 25 percent or more of Hometown Bancorp, LTD. and indirectly control Hometown Bank, both of Fond du Lac, Wisconsin.
Newspaper: Not available
Federal Register: Not available
OLD SECOND BANCORP, INC. * 3A5 Old Second Bancorp, Inc., Aurora, Illinois to merge with West Suburban Bancorp, Inc. and thereby indirectly acquire West Suburban Bank, both of Lombard, Illinois.
Newspaper: 09/20/2021
Federal Register: 10/01/2021
READLYN BANCSHARES, INC. * 3A5
* 3A3
Readlyn Bancshares, Inc., Saint Paul, Minnesota to merge with Tripoli Bancshares, Inc., Saint Paul, Minnesota, and thereby indirectly acquire American Savings Bank, Tripoli, Iowa. In addition, Readlyn Bancshares, Inc. to acquire an additional 15 percent, for a total of 35 percent of the voting shares of Nashua Bancshares, Inc., Saint Paul, Minnesota.
Newspaper: 10/24/2021
Federal Register: 10/21/2021
SHANNON BANCORP, INC. CIC Robin Saar, individually, Shannon, Illinois, together with Cassandre Rae Mlakar, Lake Carrol, Illinois, and Candace Schubert, Shannon, Illinois, to form the Saar Family Control Group, to retain 25 percent or more of the voting shares of Shannon Bancorp, Inc., and thereby indirectly control First State Bank, both of Shannon, Illinois.
Newspaper: Not available
Federal Register: Not available
SOUTHERN WISCONSIN BANCSHARES CORPORATION CIC Notice by James G. Fitzgerald Trust Dated August 31, 1988, Gerald F. Fitzgerald Family Trust UAD January 18, 1988, Spoonbill Trust, Anhinga Trust, and Sandhill Trust, all with James G. Fitzgerald, Naples, Florida, as trustee; Whooper Trust with Jane M. Fitzgerald, Naples, Florida, as trustee; and Gerald F. Fitzgerald, Jr. Trust Dated September 10, 1987, with Gerald F. Fitzgerald, Jr., Chicago, Illinois, as trustee to join the Fitzgerald Family Control Group, a group acting in concert to acquire additional voting shares of Southern Wisconsin Bancshares Corporation, Inverness, Illinois and thereby indirectly acquire voting shares of Farmers Savings Bank, Mineral Point, Wisconsin.
Newspaper: 09/29/2021
Federal Register: 10/04/2021


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