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 October 26, 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 |
| BSB COMMUNITY BANCORPORATION, INC. | Change in Bank Control | Louis James Schweigert, Cuba City, Wisconsin, to acquire the voting shares of BSB Community Bancorporation, Inc. and thereby indirectly control Benton State Bank, both of Benton, Wisconsin. | Not available | Not available |
| DEVON BANCORP, INC. | Change in Bank Control | Donna 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 available | 10/17/2024 |
| FIRST FARMERS BANK & TRUST CO. | * Branch (Domestic) | First Farmers Bank & Trust, Converse, Indiana to establish a branch located at 1511 West South Street, Lebanon, Indiana 46052. | 10/18/2024 | Not applicable |
| TALEN, INC. | Change in Bank Control | The Deborah A. Talen Trust with Deborah A. Talen as trustee, both of Minneapolis Minnesota, to join as a member of the Talen Family Control Group, a group acting in concert, to acquire voting shares of Talen, Inc. and thereby indirectly acquire voting shares of Farmers Savings Bank & Trust, both of Traer, Iowa. | Not available | Not available |
| WESTERN ILLINOIS BANCSHARES, INC. | Change in Bank Control | Notice by The Andrew A. Black Living Trust, dated June 21, 2019, Andrew A. Black and Lesa A. Black, as co-trustees, all of Princeville, Illinois; Kay I. German Revocable Trust, Kay I. German, both of Chillicothe, Illinois, and Andrew A. Black, Princeville, Illinois, as co-trustees; William M. German Revocable Trust, dated November 7, 1994, William M. German, both of Chillicothe, Illinois, and Andrew A. Black, Princeville, Illinois, as co-trustees; Charles L. German and Kathryn J. German, both of Marco Island, Florida; Kathleen A. Messersmith Declaration of Trust, dated March 18, 2005, Kathleen A. Messersmith, as trustee, both of Princeville, Illinois; Julie K. Wilson, Sugar Grove, Illinois; and Beth A. Kurtz, Chillicothe, Illinois, each a member of the German Family Control Group, a group acting in concert, to acquire voting shares of Western Illinois Bancshares, Inc., Monmouth, Illinois, and thereby indirectly acquire voting shares of Midwest Bank, Monmouth, Illinois and Princeville State Bank, Princeville, Illinois. | Not available | 11/14/2024 |
* 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 | ||