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 September 21, 2024
| Filer | Filing Type | Filing Proposal | End of Comment Period | |
|---|---|---|---|---|
| Newspaper | Federal Register | |||
| AGCOM HOLDINGS, INC. | Change in Bank Control | Notice by Bradley C. Hanson, Sioux Falls, SD, to acquire voting shares of AgCom Holdings, Inc., Maxwell, Iowa and thereby indirectly acquire control of Maxwell State Bank, Maxwell, Iowa. | Not available | 10/09/2024 |
| ARBOR BANCORP, INC. | Change in Bank Control | Notice by William C. Martin 2024 Grantor Retained Annuity Trust, with William C. Martin as trustee, both of Ann Arbor, Michigan, to join the Martin Family Control Group and acquire voting shares of Arbor Bancorp, Inc. and indirectly acquire voting shares of Bank of Ann Arbor, both of Ann Arbor, Michigan. | Not available | 06/21/2024 |
| ARBOR BANCORP, INC. | Change in Bank Control | The Michael Carl Martin BAA Irrevocable Trust, Ann Arbor, Michigan with Michael Carl Martin, Ann Arbor, Michigan as Trustee and Tye J. Klooster, Orland Park, Illinois as Trust Protector; and the William Seth Martin BAA Irrevocable Trust, Ann Arbor, Michigan with William Seth Martin, Wilmette, Illinois as Trustee and Tye J. Klooster, Orland Park, Illinois as Trust Protector, intend to join the Martin Family Control Group and acquire voting shares of Arbor Bancorp, Inc., and thereby indirectly acquire voting shares of Bank of Ann Arbor, both of Ann Arbor, Michigan. | Not available | Not available |
| GLENWOOD BANCORPORATION | Change in Bank Control | Notice by Grant Dean, Glenwood, Iowa, together with the John C. Dean Grandchildren's Trust, Grant Dean and Larry W. Winum as co-trustees; the Carol C. Dean Grandchildren's Trust, Grant Dean and Larry W. Winum as co-trustees; and the Larry W. Winum Revocable Trust, Larry W. Winum as trustee, all of Glenwood, Iowa; as a group acting in concert, to retain voting shares of Glenwood Bancorporation, and thereby indirectly retain voting shares of Glenwood State Bank, both of Glenwood, Iowa. | Not available | 10/15/2024 |
| HERKY HAWK FINANCIAL CORP. | Change in Bank Control | Daniel R. Kumley Revocable Trust with Daniel R. Kumley as trustee, both of Mount Vernon, Iowa, and Matthew Kumley Revocable Trust with Matthew Kumley as trustee, both of Monticello, Iowa to join the Audrey Savage Control Group, a group acting in concert, to retain voting shares of Herky Hawk Financial Corp, and thereby indirectly retain voting shares of Citizens State Bank, both of Monticello, Iowa. | Not available | 09/19/2024 |
| OLD O'BRIEN BANC SHARES, INC. | Change in Bank Control | The Johnson 2024 Dynasty Trust, Milwaukee, Wisconsin, with Darin Johnson, Sutherland, Iowa, and Peter J. Wilder, Pewaukee, Wisconsin, as co-trustees and Jenny Johnson, Sutherland, Iowa as Grantor, and Jenny Johnson, Sutherland, Iowa to join the Johnson Family Control Group to acquire voting shares of Old O'Brien Banc Shares, Inc., Sutherland, Iowa. and indirectly acquire voting shares of Security State Bank, Sutherland, Iowa. | Not available | 10/15/2024 |
| SCOTT BANCSHARES, INC. | Change in Bank Control | Gregory S. Jeffers, Urbana, Illinois; Tod A. Jeffers, Bethany, Illinois; Natalie A. Jeffers, Bethany, Illinois; Kathryn G. Jeffers, Bethany, Illinois; Joseph T. Jeffers, Bethany, Illinois; and Karen A. Jeffers, Bethany, Illinois, as members of the Jeffers Family Group, a group acting in concert, to retain 25 percent or more of shares of Scott Bancshares, Inc. and thereby indirectly control Scott State Bank, both of Bethany, Illinois. | 09/30/2024 | 10/11/2024 |
| STERLING BANCORP, INC. | Change in Bank Control | J. Thomas MacFarlane, Bloomfield, Michigan, as trustee of the K.I.S.S. Dynasty Trust No. 9 (dated December 28, 2023), Sioux Falls, South Dakota, to retain control of voting shares of Sterling Bancorp, Inc. ("Bancorp"), and thereby indirectly retain control of voting shares of Sterling Bank and Trust, FSB ("Bank"), both of Southfield, Michigan. In addition, J. Thomas MacFarlane, to become trustee of 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, and acquire control of additional voting shares of Bancorp and thereby indirectly acquire control of voting shares of Bank. | Not available | Not available |
| UNIVERSITY BANCORP, INC. | Change in Bank Control | Notice by Stephen Lange Ranzini as trustee of the Stephen Lange Ranzini Inherited IRA, Ann Arbor, Michigan; Stephen Lange Ranzini Inherited IRA, Ann Arbor, Michigan; Joseph Lange Ranzini as trustee of the Joseph Lange Ranzini IRA, Waynesboro, Virginia; Joseph Lange Ranzini IRA, Waynesboro, Virginia; Paul Lange Ranzini of Meunster, Germany; David William Ranzini of Tokyo, Japan; Gregory Paul Ranzini of Wilmington, Delaware; Holly Ann Clare of Atlanta, Georgia; Emily Elizabeth Hu of Washington, District of Columbia; Jonathan Paul Hu of Princeton, New Jersey; and Abigail Raffaela Hu of Princeton, New Jersey, to join the Ranzini Family Group, to retain control of 25 percent or more of the voting shares of University Bancorp, Inc. and thereby indirectly acquire control of University Bank, both of Ann Arbor, Michigan. | 10/08/2024 | 10/09/2024 |
* 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 / Location | RSSD ID | Exam Date | CRA Public Date | CRA Rating | Exam Method |
|---|---|---|---|---|---|
| CHELSEA ST BK, CHELSEA, MICHIGAN | 711548 | 06/10/2024 | 02/26/2024 | S | Int Small Bank |
| COMMUNITY ST BK, AVILLA, INDIANA | 502746 | 06/15/2024 | 03/04/2024 | S | Int Small Bank |
| 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 |
| IOWA ST BK, HULL, IOWA | 982348 | 07/21/2024 | 04/01/2024 | 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 |
| WASHINGTON ST BK, WASHINGTON, IOWA | 433943 | 05/05/2024 | 01/22/2024 | S | Int Small Bank |
CRA Examinations scheduled for Quarter of
| Institution | Location | Quarter |
|---|---|---|
| NONE | ||
Last Update: September 26, 2024