District 7: Federal Reserve Bank of Chicago PDF

Filings received during the week ending October 5, 2024

FilerFiling TypeFiling ProposalEnd of Comment Period
NewspaperFederal 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 available10/09/2024
ALLY BANKPublic Welfare InvestmentAlly Bank, Sandy, Utah to make up to a public welfare investment, pursuant to section 208.22(b)(1)(iv)(A) of Regulation H.Not applicableNot applicable
ARBOR BANCORP, INC.Change in Bank ControlNotice 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. 06/22/202406/21/2024
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 availableNot available
BANK OF BRODHEAD, THE* Branch (Domestic)Bank of Broadhead, Brodhead, Wisconsin to establish a branch located at 144 Merchant Row, Milton, Wisconsin. 10/13/2024Not applicable
DEVON BANCORP, INC.Change in Bank ControlDonna Loundy, Glenview, Illinois, Joseph Loundy, Chicago, Illinois, Daniel Loundy, Ingleside, Illinois, David Loundy, Glencoe, Illinois, Alexander Loundy, Glencoe, Illinois, Samuel Loundy, Glencoe, Illinois, Ari Loundy, Chicago, Illinois, Ronen Loundy, Kenosha, Wisconsin, Elan Loundy, Boulder, Colorado, Irving Loundy, Chicago, Illinois and LFI Glenview, LLC, Glenview, Illinois a group acting in concert, to retain voting shares of Devon Bancorp, Inc. and thereby indirectly retain voting shares of Devon Bank, both of Chicago, Illinois. Not available10/17/2024
FIRST STATE BANK OF PORTERChange in Bank ControlNotice by James D. Ruge Revocable Trust Dated 3/28/2013, Beverly Shores, Indiana with James Ruge as Trustee, Beverly Shores, Indiana; Thomas Ruge, Monrovia, Indiana; The First State Bank of Porter as Custodian FBO Thomas R. Ruge IRA, Thomas Ruge as beneficiary, both of Monrovia, Indiana; The Kathleen Scott Family Wealth Trust dated 11/22/2016, Fairport, New York, with Kathleen Scott, Fairport, New York as Trustee; The Ruge Trust Dated 6/01/2016, Burns Harbor, Indiana with Dawn Ruge, Burns Harbor, Indiana as Trustee; Jacqueline Ruge-Perkins, Chesterton, Indiana; Ana Ruge-Rodela, Elgin, Illinois; Celina Clements, Mooresville, Indiana; Margaret McLaughlin, Andover, Massachusetts; Pamela Strudas, Chesterton, Indiana; Dawn Hernandez, Naples, Florida; the Michael and Suzanne Mahaffey Revocable Trust Dated 1/21/2022, Porter, Indiana with Michael Mahaffey and Suzanne Mahaffey as trustees, both of Porter, Indiana; and Roy Krizek of Beverly Shores, Indiana to retain over 25 percent of voting shares of the First State Bank of Porter, Porter, Indiana. Not available10/24/2024
GLENWOOD BANCORPORATIONChange in Bank Control Notice by Grant C. Dean, Glenwood, Iowa, together with the John C. Dean Grandchildren's Trust, Grant C. Dean and Larry W. Winum as co-trustees; the Carol C. Dean Grandchildren's Trust, Grant C. 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 available10/15/2024
NORTHERN TRUST COMPANY, THEPublic Welfare InvestmentThe Northern Trust Company, Chicago, Illinois, requests prior approval to make a Public Welfare Investment, pursuant to Regulation H (12 C.F.R. §208.22(d)).Not applicableNot applicable
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 available10/16/2024

* 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
CHELSEA ST BK, CHELSEA, MICHIGAN71154806/10/202402/26/2024SInt Small Bank
COMMUNITY ST BK, AVILLA, INDIANA50274606/15/202403/04/2024SInt Small Bank
EASTERN MI BK, CROSWELL, MICHIGAN64334001/20/202407/17/2023SInt Small Bank
GUARANTY BK, SPRINGFIELD, MISSOURI380453503/31/202405/01/2023SInt Small Bank
IOWA ST BK, HULL, IOWA98234807/21/202404/01/2024SInt Small Bank
OXFORD BK, OXFORD, MICHIGAN44804002/16/202405/15/2023SInt Small Bank
TRI-COUNTY BK, BROWN CITY, MICHIGAN69534904/06/202408/14/2023SInt Small Bank
WASHINGTON ST BK, WASHINGTON, IOWA43394305/05/202401/22/2024SInt Small Bank
CRA Examinations scheduled for    Quarter of
InstitutionLocationQuarter
NONE
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Last Update: October 11, 2024