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 February 26, 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:	03/15/2022
Federal Register:	03/07/2022

PLATINUM BANCORP, INC.

CIC

The LeGare Revocable Trust dated July 23, 2018, Greg LeGare and Elaine LeGare as trustees, 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:	03/16/2022

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 Quarter of

Institution	Location	Quarter
NONE

* Subject to the provisions of the Community Reinvestment Act

District: 9 Federal Reserve Bank of: Minneapolis

Filings received during the week ending February 26, 2022

Availability of CRA Public Evaluations

CRA Examinations scheduled for Quarter of

District: 9
Federal Reserve Bank of: Minneapolis