District 9
Federal Reserve Bank of Minneapolis
Instructions for commenting on applications
| Type | Application | Ending date of comment period |
|---|---|---|
| CIC | Change in Control notice by John M. Morrison Revocable Trust #4, dated January 18, 2000, John M. Morrison Trustee, Naples, Florida, to gain control of Central Bancshares Inc., Golden Valley, Minnesota, and thereby indirectly gain control of Central Bank, Stillwater, Minnesota. |
Newspaper - Not available Fed Reg - 04/07/2008 |
| * 3A5 | Frandsen Financial Corporation, Arden Hills, Minnesota, to merge with Anderson Financial Group, Inc., Wayzata, Minnesota, and thereby indirectly acquire Northern National Bank, Nisswa, Minnesota. |
Newspaper - Not available Fed Reg - 04/17/2008 |
| * 3A5 | Frandsen Financial Corporation, Arden Hills, Minnesota, to merge with Tower Bancshares, Inc., Cloquet, Minnesota, and thereby indirectly acquire State Bank of Tower, Tower, Minnesota. |
Newspaper - Not available Fed Reg - 04/17/2008 |
| CIC | Notice by Louis B. Olsen, Eagan, Minnesota, to acquire 23% of the shares of Northern Star Financial, Inc., Mankato, Minnesota, and thereby indirectly gain control of Northern Star Bank, Mankato, Minnesota. |
Newspaper - Not available Fed Reg - 04/09/2008 |
| CIC | Notice by Timothy A. Tierney, Madison, Wisconsin, as an individual, and as a group acting in concert with Mark R. Tierney, Superior, Wisconsin; David S. Tierney, Eden Prairie, Minnesota; the Robert V. Tierney Trust, Timothy Tierney as trustee, Madison, Wisconsin; and the Faith M. Tierney Trust, Timothy Tierney as trustee, Madison, Wisconsin, to acquire control of Superior Bancorporation LTD, Superior, Wisconsin, and thereby indirectly acquire control Community Bank Superior, Superior, Wisconsin. |
Newspaper - Not available Fed Reg - 04/14/2008 |
*Subject to the provisions of the Community Reinvestment Act.
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.
| RSSD number | Institution/Location | Exam date | CRA public date | CRA rating | Exam type |
|---|---|---|---|---|---|
| None |
| Institution | Location |
|---|---|
| None |