Regulatory Alerts2025-08-01
Added · Updated
Monthly Bulletin — August 2025
The North Dakota Department of Financial Institutions issued this bulletin to inform the public of applications by state-chartered banks, credit unions, and trust companies for regulatory action. The document details the status of various requests, including approved changes of control, mergers, and facility extensions, while noting that the September 2025 usury rate for unregulated lenders is 9.579%. Several applications remain under review, such as those for new trust companies and interstate branch relocations.
BULLETIN APPLICATIONS 09.02.2025 Date Applicant Status 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. The usury rate for unregulated lenders for the month of September 2025 is 9.579%. Usury Name Waiver Change of Control 6/16/2025 First Holding Company of Cavalier, Inc., Cavalier, ND—Retroactive Change of Control Application for Blake Trenbeath to join the Mayo Family Shareholder group, a group acting in concert, which controls 25 percent or more of the company. First Holding Company of Cavalier, Inc. is the parent company of United Valley Bank, Cavalier, ND. In review 6/27/2025 Grant County BanCorporation, Inc., Carson, ND—Application for Michael Schmid to join the Schmid Family Shareholder Group and to acquire 25% or more of the voting stock of Grant County BanCorporation, Inc., which controls 100% of Grant County State Bank, Carson, ND. Approved by Commissioner 8/19/2025 Merger 6/17/2025 Bravera Bank, Dickinson, ND—Application to merge VISIONBank, Fargo, ND with and into Bravera Bank. Approved by Commissioner 8/12/2025 8/15/2025 Columbia Bank, Lake Oswego, OR—Request to use the word “bank” in the registered trade name. Approved by Commissioner 8/19/2025 8/5/2025 Standard Custody & Trust Company, LLC d/b/a Ripple Trust & Co., Albany, NY—Request to use the word “trust” in the registered trade name. In review Trust Company 7/16/2025 Trust Company of the Dakotas, Minot, ND—Application to establish a new trust company. In review Relocation 8/4/2025 Western State Bank, Devils Lake, ND—Application to relocate interstate branch from 7001 N Scottsdale Rd, Suite 100 to 6929 E. Shea Blvd, Scottsdale, AZ. In review Branch/Facility 08/19/2025 United Valley Bank, Cavalier, ND—Request for an extension to establish a facility at 3300 Jacks Way, Fargo, ND from 11/8/2025 to 2/28/2026. Approved by Commissioner 8/20/2025 LPO 8/8/2025 Bell Bank, Fargo, ND—Application to establish an LPO at 4719 Banning Ave, White Bear Lake, MN. Approved by Commissioner 8/18/2025