Regulatory Alerts2023-04-01
Added · Updated
Monthly Bulletin — April 2023
The North Dakota Department of Financial Institutions issued this bulletin to inform the public of pending applications by state-chartered banks, credit unions, and trust companies. The document details facility closure requests by First International Bank and Cornerstone Bank, as well as a proposed acquisition by First Financial Corporation. Additionally, it notes the approval of name waiver requests from BMO Harris and Jos. A. Bank Clothiers to use the word "bank" in their trade names, while establishing the May 2023 usury rate for unregulated lenders at 10.268%.
BULLETIN APPLICATIONS 5.1.2023 Facility Closure Change of Control Name Waiver
Usury
The usury rate for unregulated lenders the month of May 2023 is 10.268% Department of Financial Institutions www.nd.gov/dfi 1200 Memorial Highway Bismarck, ND 58504 (701)328-9933 This Bulletin informs North Dakota financial institutions and the public of applications by state -chartered banks, statechartered credit unions, and trust companies to be acted upon. This Bulletin is for informational purposes only and does not constitute legal notice of an application. Date Applicant Status 2/16/2023 First International Bank & Trust, Watford City—Application to close facility located at 3101 N Broadway, Fargo, ND In Comment Period 2/16/2023 First International Bank & Trust, Watford City—Application to close facility located at 4930 S Western Ave, Sioux Falls, SD In Comment Period 4/26/2023 Cornerstone Bank, Fargo—Application to close facility located at 221 Main Street, Makoti, ND In Review 3/31/2023 First Financial Corporation (Holding Company of BankNorth), Arthur— Application to acquire HSB Financial Corporation, Harwood, ND; HSB Financial Corporation controls 100% of Harwood State Bank, Harwood, ND In Comment Period 4/5/2023 BMO Harris dba Bank of the West, Chicago, IL—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 4/5/2023 4/18/2023 Jos. A. Bank Clothiers, LLC, Houston, TX—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 4/18/2023