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 February 19, 2022

Filer Filing Type Filing Proposal End of Comment Period
MINNESOTA COMMUNITY BANCSHARES, INC. CIC Daniel Otten, Hayward, Minnesota, to acquire voting shares of Minnesota Community Bancshares, Inc., Albert Lea, Minnesota (MCBI), and thereby indirectly acquire voting shares of Arcadian Bank, Hartland, Minnesota (Bank). Daniel M. Otten Revocable Trust, Daniel Otten and Kim Otten as trustees, all of Hayward, Minnesota; Magdalene E. Otten Revocable Trust, Wisner, Nebraska, Magdalene Otten, Wisner, Nebraska, and Daniel Otten as trustees; and Kim M. Otten Revocable Trust, Daniel Otten and Kim Otten as trustees, all of Hayward, Minnesota; to become members of the Otten Family Control Group, a group acting in concert, to acquire voting shares of MCBI, and thereby indirectly acquire voting shares of Bank.
Newspaper: Not available
Federal Register: 03/07/2022
PLATINUM BANCORP, INC. CIC Greg LeGare and Elaine LeGare, both of Osseo, Wisconsin; Bradley LeGare and Sharon LeGare, both of St. Charles, Illinois; Jeffrey P. LeGare, Lucas, Texas; Jennifer LeGare, Eau Claire, Wisconsin; and Pamela LeGare-Van Hout, Appleton, Wisconsin; the LeGare Group, a group acting in concert, to retain voting shares of Platinum Bancorp, Inc., and thereby indirectly retain voting shares of Platinum Bank, both of Oakdale, Minnesota.
Newspaper: Not available
Federal Register: Not available
SECURITY BANK SHARES, INC. CIC The Willard and Geraldine Ogren Revocable Trust (WGO Trust), Iron River, Wisconsin; Greg Ogren, individually and as trustee of the WGO Trust and the Greg Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Scott Ogren, individually and as trustee of the Scott Ogren Separate Descendant's Trust, both of Iron River, Wisconsin; Mark Ogren, Minnetrista, Minnesota, individually and as trustee of the Mark Ogren Separate Descendant's Trust, Iron River, Wisconsin; and Lori Ogren, Iron River, Wisconsin, as a group acting in concert, to retain voting shares of Security Bank Shares, Inc., Iron River, Wisconsin, and thereby indirectly retain voting shares of Security State Bank, Iron River, Wisconsin, and Security Bank, New Auburn, Wisconsin.
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 Second Quarter of 2022 (April 1, 2022 - June 30, 2022) and Third Quarter of 2022 (July 1, 2022 - September 30, 2022)

Institution Location Quarter
CHARTER BK EAU CLAIRE, WISCONSINSecond Quarter of 2022
DAKOTA WESTERN BK BOWMAN, NORTH DAKOTASecond Quarter of 2022
PROFINIUM TRUMAN, MINNESOTASecond Quarter of 2022
YELLOWSTONE BK LAUREL, MONTANASecond Quarter of 2022
FIRST PREMIER BK SIOUX FALLS, SOUTH DAKOTAThird Quarter of 2022
GRANITE MNT BK PHILIPSBURG, MONTANAThird Quarter of 2022
HEARTLAND ST BK EDGELEY, NORTH DAKOTAThird Quarter of 2022
LIBERTY BK MN SAINT CLOUD, MINNESOTAThird Quarter of 2022

* 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

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Last update: February 24, 2022