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 23, 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 |
| BANK IOWA CORPORATION | Change in Bank Control | Notice by Kathryn Paige Duncan, Lincoln, Nebraska, seeking permission to acquire more than 25 percent of the voting shares of Bank Iowa Corporation, and thereby indirectly retain voting shares of Bank Iowa, both of West Des Moines, Iowa. | Not available | 12/04/2024 |
| 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 | 12/04/2024 |
| 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 | 12/19/2024 |
* 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 First Quarter of 2025 (January 1, 2025 - March 31, 2025) and Second Quarter of 2025 (April 1, 2025 - June 30, 2025)
| Institution | Location | Quarter |
|---|---|---|
| BANK OF BRODHEAD | BRODHEAD, WISCONSIN | First Quarter of 2025 |
| FIRST BK OF BERNE | BERNE, INDIANA | First Quarter of 2025 |
| ONE CMNTY BK | OREGON, WISCONSIN | First Quarter of 2025 |
| THUMB B&TC | PIGEON, MICHIGAN | First Quarter of 2025 |
| ALLY BK | SANDY, UTAH | Second Quarter of 2025 |
| BANK | WAPELLO, IOWA | Second Quarter of 2025 |
| BANK MIDWEST | SPIRIT LAKE, IOWA | Second Quarter of 2025 |
| MAQUOKETA ST BK | MAQUOKETA, IOWA | Second Quarter of 2025 |