Regulatory Alerts2022-12-01
Added · Updated
Monthly Bulletin — December 2022
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and regulated entities of recent applications and decisions regarding state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions, including the approval of name waivers for Allied First Bank and First United Bank Insurance Solutions, the establishment of a limited payment office by Bell Bank, and the merger of Dakota Telco Federal Credit Union into United Savings Credit Union. Additionally, the bulletin announces the January 2023 usury rate for unregulated lenders at 9.301% and lists several applications currently under review or awaiting board decisions.
BULLETIN APPLICATIONS 1.5.2023 Amend Articles of Association Facility Closure LPO
Merger Name Waiver Relocate Facility/Branch Subsidiary Purchase
Usury
The usury rate for unregulated lenders the month of January 2023 is 9.301% 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 11/18/2022 Allied First Bank, sb dba Servbank, Oswego, IL—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 12/1/2022 12/21/2022 First United Bank Insurance Solutions, Inc. d/b/a Unity Insurance Partners, Durant, OK—Request to use the word “bank” in the registered trade name of the business. Applicant will use the d/b/a name Unity Insurance Partners in ND to eliminate confusion with a similarly named state chartered bank Approved by the Commissioner 12/21/2022 12/28/2022 Bell Bank, Fargo—Application to establish an LPO at 2802 Coho St, Ste 204, Madison, WI Approved by the Board 12/28/2022 9/21/2022 Choice Bank, Fargo—Application to close facility located at 1313 Skyline Blvd, Bismarck, ND Approved by the Commissioner 12/12/2022 12/16/2022 First International Bank & Trust, Watford City—Application to close facility located at 143 Warrington Ave, Bowdon, ND Under Review 12/16/2022 First International Bank & Trust, Watford City—Application to close facility located at 300 11th St W, Williston, ND Under Review 11/17/2022 Peoples State Bank, Westhope—Application to amend Articles Awaiting Board Decision 12/14/2022 First International Bank & Trust, Watford City—Application to relocate interstate branch from 800 30th Ave S, Moorhead, MN To 865 37th Ave S, Moorhead, MN In Comment Period 12/22/2022 Border Bank, Fargo—Application to purchase assets of Northern Ag, Inc. and form Border Insurance Agency. Awaiting Board Decision 10/20/2022 United Savings Credit Union, Fargo—Application to merge Dakota Telco Federal Credit Union with and into United Savings Credit Union Approved by the Board 12/2/2022