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 May 25, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| ALLY BANK | Public Welfare Investment | Ally Bank, Sandy, Utah, for prior approval to make up to an investment pursuant to section 208.22(b)(1)(iv)(A) of Regulation H. | Not applicable | Not applicable |
| BANK IOWA CORPORATION | Change in Bank Control | Notice by Kathryn Paige Duncan, John Robert Duncan, D. Todd Duncan, Clara Summers Stokes Sukovaty, Amelia Stokes, Kathryn Duncan, the Summers Stokes Irrevocable Trust, Union Bank & Trust, as trustee, and Clara Summers Stokes Sukovaty, as beneficiary, the Amelia Stokes Irrevocable Trust, Union Bank & Trust, as trustee, and Amelia Stokes, as beneficiary, and a Minor Child's Irrevocable Trust, Union Bank & Trust, as trustee; all of Lincoln, Nebraska; Carol Dianne Thomas and Drew Duncan Thomas, both of Miami, Florida; Brian Sean Thomas, London, United Kingdom; Blake Alan Thomas, Omaha, Nebraska; Ian Duncan Thompson, Los Angeles, California; and Dr. Eric Michael Thompson, Chicago, Illinois; a group acting in concert, to form the Duncan Family Control Group 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 available | 05/15/2024 |
| BANK IOWA CORPORATION | Change in Bank Control | Notice 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 available | Not available |
| GREENFIELD BANCORPORATION, LTD. | Change in Bank Control | The 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 available | 03/19/2024 |
| SJS 1993 Irrev Dynasty Trust & 1993 LT Dynasty Trust | * Unitary Formation | The Scott J. Seligman 1993 Long Term Irrevocable Dynasty Trust and the Scott J. Seligman 1993 Irrevocable Dynasty Trust, both of Sioux Falls, South Dakota; Harry S. Stern, San Francisco, California, as trustee; to register as savings and loan holdings companies and retain shares of Sterling Bancorp, Inc., and thereby retain shares of Sterling Bank and Trust, FSB, both of Southfield, Michigan. | Not available | 06/07/2024 |
| SOUTH STORY BANK & TRUST | * 3A1 | South Story Bancshares, Inc., Slater, Iowa, intends to apply to the Federal Reserve Board for permission to form a bank holding company and intends to acquire control of South Story Bank & Trust, Slater, Iowa. | Not available | Not available |
| WESTERN ILLINOIS BANCSHARES, INC. | * 3A5 | Western Illinois Bancshares, Inc., Monmouth, Illinois to merge with Main Street Bancorp, Inc., Princeville, Illinois and thereby indirectly acquire Princeville State Bank, Princeville, Illinois. | 06/28/2024 | Not available |
* 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 / Location | RSSD ID | Exam Date | CRA Public Date | CRA Rating | Exam Method |
|---|---|---|---|---|---|
| EASTERN MI BK, CROSWELL, MICHIGAN | 643340 | 01/20/2024 | 07/17/2023 | S | Int Small Bank |
| GUARANTY BK, SPRINGFIELD, MISSOURI | 3804535 | 03/31/2024 | 05/01/2023 | S | Int Small Bank |
| NORTHSTAR BK, BAD AXE, MICHIGAN | 2958972 | 07/10/2023 | 02/06/2023 | S | Int Small Bank |
| OXFORD BK, OXFORD, MICHIGAN | 448040 | 02/16/2024 | 05/15/2023 | S | Int Small Bank |
| TRI-COUNTY BK, BROWN CITY, MICHIGAN | 695349 | 04/06/2024 | 08/14/2023 | S | Int Small Bank |
| VISIONBANK OF IA, AMES, IOWA | 269049 | 05/21/2023 | 02/27/2023 | S | Int Small Bank |
CRA Examinations scheduled for Third Quarter of 2024 (July 1, 2024 - September 30, 2024) and Fourth Quarter of 2024 (October 1, 2024 - December 31, 2024)
| Institution | Location | Quarter |
|---|---|---|
| BANK IA | WEST DES MOINES, IOWA | Third Quarter of 2024 |
| BANK OF PONTIAC | PONTIAC, ILLINOIS | Third Quarter of 2024 |
| MARQUETTE BK | CHICAGO, ILLINOIS | Third Quarter of 2024 |
| CHOICEONE BK | SPARTA, MICHIGAN | Fourth Quarter of 2024 |
| COMMUNITY ST BK | ANKENY, IOWA | Fourth Quarter of 2024 |
Last Update: May 30, 2024