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 November 2, 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 |
| BACKLUND INVESTMENT CO. | * 3A1 | Backlund Investment Co. Employee Stock Ownership Plan to become a bank holding company by acquiring Backlund Investment Co., both of Peoria Heights, Illinois, and thereby indirectly acquire Better Banks, Peoria, Illinois and State Street Bank and Trust Company, Quincy, Illinois. | 12/02/2024 | Not available |
| BACKLUND INVESTMENT CO. | Change in Bank Control | The Consolidated Amendment and Restatement of the Backlund Better Bank Revocable Living Trust and the B.F. Backlund Revocable Trust with Steve E. Backlund as Trustee; the Backlund Family Trust with Steve E. Backlund as Trustee; the Steve E. Backlund Restated Revocable Trust Agreement with Steve E. Backlund as Trustee, all of Peoria Heights, Illinois, the Backlund Investment Co. Employee Stock Ownership Plan and Trust with Steve E. Backlund, Peoria Heights, Tera R. Backlund, Morton, Illinois, James P. Ghiglieri, III, Washington, Illinois, Melissa L. May, Peoria, Illinois, Robert D. Mowrer, Jr., Aledo, Texas, Timothy H. Peterson, Dunlap, Illinois, and H. Scott Smith, Quincy, Illinois, all as trustees, Robert D. Mowrer, Jr., Aledo, Texas, Michael E. Peterson of Peoria, Illinois, Timothy H. Peterson, Dunlap, Illinois, and Helene M. Peterson, Peoria, Illinois, as a group acting in concert, to retain voting shares of 25 percent or more of Backlund Investment Company, Peoria Heights, Illinois, and thereby indirectly retain voting shares of Better Banks, Peoria, Illinois, and State Street Bank and Trust Company, Quincy, Illinois. | 11/22/2024 | Not available |
| 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 |
| CHOICEONE BANK | * 18C * Branch (Domestic) | ChoiceOne Bank, Sparta, Michigan to merge with The State Bank, Fenton, Michigan, pursuant to section 18c of the Federal Deposit Insurance Act. As a result of the merger, ChoiceOne Bank will establish branches located at: 175 N. Leroy Street, Fenton, Michigan; 8412 Main Street, Birch Run, Michigan; 134 N. First Street, Brighton, Michigan; 12771 Brady Road, Chesaning, Michigan; 31000 Northwestern Highway, Suite 150, Farmington Hills, Michigan; 615 S. Saginaw Street, Flint, Michigan; 1401 E. Hill Road, Grand Blanc, Michigan; 7606 S. Saginaw Street, Grand Blanc, Michigan; 12005 Michigan Avenue, Grass Lake, Michigan; 4043 Grange Hall Road, Holly, Michigan; 107 Main Street, Linden, Michigan; 200 W. State Street, Montrose, Michigan; 201 N. Main Street, Munith, Michigan; 9380 Genesee Street, New Lothrop, Michigan; 218 S. Washington Avenue, Saginaw, Michigan; 15095 Silver Parkway, Fenton, Michigan; 207 S. Saginaw Street, St. Charles, Michigan; 5101 M-106, Stockbridge, Michigan; 7590 Gratiot Road, Saginaw, Michigan; and 18005 Silver Parkway, Fenton, Michigan, pursuant to section 9 of the Federal Reserve Act. | Not available | Not applicable |
| MUTUAL FEDERAL BANCORP, MHC | * Acquisition | Mutual Federal Bancorp, MHC and Mutual Federal Bancorp, Inc., both of Chicago, Illinois, to acquire Pulaski Savings Bank, Chicago, Illinois. | Not available | Not available |
| 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 | 11/12/2024 |
* 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 |
|---|---|---|---|---|---|
| BANK OF PONTIAC, PONTIAC, ILLINOIS | 930442 | 10/25/2024 | 07/15/2024 | S | Int Small Bank |
| 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: November 07, 2024