Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received

District 7: Federal Reserve Bank of Chicago PDF

Filings received during the week ending April 20, 2024

FilerFiling TypeFiling ProposalEnd of Comment Period
NewspaperFederal Register
ALLY BANKPublic Welfare InvestmentAlly Bank, Sandy, Utah, for prior approval to make a public welfare investment, pursuant to section 208.22(b)(1)(iv)(A) of Regulation H.Not applicableNot applicable
ALLY BANKPublic Welfare InvestmentAlly Bank, Sandy, Utah, for prior approval to make a public welfare investment, pursuant to section 208.22(b)(1)(iv)(A) of Regulation H.Not applicableNot applicable
ALLY BANKPublic Welfare InvestmentAlly Bank, Sandy, Utah, for prior approval to make a public welfare investment, pursuant to section 208.22(b)(1)(iv)(A) of Regulation H.Not applicableNot applicable
BANK IOWA CORPORATIONChange in Bank ControlNotice by Kathryn Paige Duncan, individually and with John Robert Duncan, D. Todd Duncan, Clara Summers Stokes Sukovaty, Amelia Stokes, Kathryn Duncan, all of Lincoln, Nebraska; Carol Dianne Thomas, Drew Duncan Thomas, both of Miami, Florida; Brian Sean Thomas, London, United Kingdom; Blake Alan Thomas, Omaha, Nebraska; Ian Duncan Thompson, Los Angeles, California; Dr. Eric Michael Thompson, Chicago, Illinois; Summers Stokes Irrevocable Trust, Union Bank & Trust, Lincoln, Nebraska, trustee and Summers Stokes, beneficiary; Amelia Stokes Irrevocable Trust, Union Bank & Trust, trustee and Amelia Stokes, beneficiary; and a Minor Child's Irrevocable Trust, Union Bank & Trust, trustee; a group acting in concert to form the Duncan Family Control Group to retain voting shares of Bank Iowa Corporation, and thereby indirectly retain voting shares of Bank Iowa, both of West Des Moines, Iowa.Not availableNot available
BANK IOWA CORPORATIONChange in Bank ControlNotice by J. Bradley Barr, Gold Canyon, Arizona, individually and as trustee of each of the J. Bradley Barr Trust, the Harrison D. Clanton Trust and the Drew M. Clanton Trust, all of Gold Canyon, Arizona; a group acting in concert to form the Barr Family Control Group to retain voting shares of Bank Iowa Corporation, and thereby indirectly retain voting shares of Bank Iowa, both of West Des Moines, Iowa. Not availableNot available
GREENFIELD BANCORPORATION, LTD.Change in Bank ControlThe Jim and Peggy Scott Trust, James L. Scott and Peggy A. Scott as co-trustees, all of Fontanelle, Iowa; together with, Brad A. Lydon and Jana F. Lydon, both of Fontanelle, Iowa; and Jessica C. Christensen and Joshua J. Christensen , both of Greenfield, Iowa, together as a group acting in concert, to retain control of the voting share of Greenfield Bancorporation, Ltd, Greenfield, Iowa and thereby indirectly control Union State Bank, Greenfield, Iowa.Not available03/19/2024
SECURITY AGENCY, INCORPORATEDChange in Bank ControlThe BG 2024 Trust, Milwaukee, Wisconsin, with Ben Grimstad, Decorah, Iowa, and Peter J. Wilder, Pewaukee, Wisconsin, as co-trustees, and Padrin Grimstad, Decorah, Iowa, as Grantor; the JG 2024 Trust, Milwaukee, Wisconsin, with Joseph Grimstad, Decorah, Iowa, and Peter J. Wilder, Pewaukee, Wisconsin, as co-trustees, and Ann Grimstad, Decorah, Iowa, as Grantor; Ann Grimstad, Decorah, Iowa; and Padrin Grimstad, Decorah, Iowa, to join the Grimstad Family Control Group to acquire voting shares of Security Agency, Incorporated and thereby indirectly acquire voting shares of Decorah Bank and Trust Company, both of Decorah, Iowa. Not availableNot available
TRI-COUNTY FINANCIAL GROUP, INC.Change in Bank Control Castle Creek Capital Partners VI, LP; Castle Creek Capital VI LLC; Castle Creek Advisors IV LLC; JME Advisory Corp.; Scavuzzo Advisory Corp.; Volk Advisory Corp.; and Rana Advisory Corp., all of San Diego, California; together with John Eggemeyer, Rancho Santa, California; Anthony Scavuzzo, Dallas, Texas; David Volk, San Diego, California; and Sundeep Rana, Dallas, Texas, as a group acting in concert, to acquire voting shares of Tri-County Financial Group, Inc., and thereby indirectly acquire voting shares of First State Bank, both of Mendota, Illinois.Not available02/12/2024

* Subject to the provisions of the Community Reinvestment Act

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 / LocationRSSD IDExam DateCRA Public DateCRA RatingExam Method
EASTERN MI BK, CROSWELL, MICHIGAN64334001/20/202407/17/2023SInt Small Bank
GUARANTY BK, SPRINGFIELD, MISSOURI380453503/31/202405/01/2023SInt Small Bank
NORTHSTAR BK, BAD AXE, MICHIGAN295897207/10/202302/06/2023SInt Small Bank
ONE CMNTY BK, OREGON, WISCONSIN24714004/28/202311/28/2022SInt Small Bank
OXFORD BK, OXFORD, MICHIGAN44804002/16/202405/15/2023SInt Small Bank
VISIONBANK OF IA, AMES, IOWA26904905/21/202302/27/2023SInt Small Bank
CRA Examinations scheduled for    Quarter of
InstitutionLocationQuarter
NONE
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Last Update: April 26, 2024