Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
District 9: Federal Reserve Bank of Minneapolis PDF
Filings received during the week ending July 13, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| 215 HOLDING CO. | Change in Bank Control | Colleen Short Lucke, Edina, Minnesota; Kevin Short, Hudson, Wisconsin; and Elizabeth Short, University Heights, Ohio; each individually and as trustee of one or more Short family trusts to retain voting shares of 215 Holding Co., Minneapolis, Minnesota ("Company"), and thereby indirectly retain voting shares of Liberty Financial Services, Inc. and Liberty National Bank, both of Sioux City, Iowa; First Farmers & Merchants National Bank, Luverne, Minnesota; First Farmers & Merchants National Bank, Fairmont, Minnesota; First Farmers & Merchants State Bank, Brownsdale, Minnesota; First Farmers & Merchants State Bank of Grand Meadow, Grand Meadow, Minnesota; and First Farmers & Merchants Bank, Cannon Falls, Minnesota (together "the Subsidiaries"). Additionally, the Robert M. Short Revocable Trust, Minneapolis, Minnesota (trustees Brian Short, St. Paul, Minnesota; Marianne Short, St. Paul, Minnesota; and Colleen Short Lucke) to join the Short family shareholder group by retaining voting shares of Company and thereby indirectly retaining voting shares of the Subsidiaries. | Not available | 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 |
|---|---|---|---|---|---|
| FIRST MT BK, MISSOULA, MONTANA | 613156 | 06/23/2024 | 09/11/2023 | S | Int Small Bank |
| FIRST ST BK SOUTHWEST, PIPESTONE, MINNESOTA | 823656 | 03/18/2024 | 08/14/2023 | O | Int Small Bank |
| OPPORTUNITY BK OF MT, HELENA, MONTANA | 685676 | 04/29/2024 | 10/24/2022 | O | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||