Regulatory Alerts2023-07-01
Added · Updated
Monthly Bulletin — July 2023
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of pending and approved applications for state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions including branch closures, interstate expansions, mergers, and name waivers, with statuses ranging from comment periods to final commissioner approval. Additionally, the bulletin establishes the usury rate for unregulated lenders at 10.473% for August 2023.
BULLETIN APPLICATIONS 7.31.2023 Branch Branch Closure Facility Closure Interstate Facility LPO Merger Name Waiver Relocate Main Office Usury The usury rate for unregulated lenders the month of August 2023 is 10.473% 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 7/7/23 Bell Bank, Fargo—Application to establish an interstate branch at 3501 West Arrowhead Road, Duluth, MN. In Comment Period 7/31/2023 Town and Country Credit Union, Minot—Application to establish a branch located at 2305 37th Ave SW, Minot, ND. In Review 7/18/23 Western State Bank, Devils Lake—Application to establish an LPO at 15150 420 College Drive South, Devils Lake. Approved by the Commissioner 7/31/23 7/27/23 Bell Bank, Fargo—Application to establish an LPO at 15150 West Park Place, Goodyear, AZ. Approved by the Commissioner 7/28/23 6/29/2023 First Western Bank & Trust, Minot—Application to merge State Bank of Lismore, Lismore, MN, with and into First Western Bank & Trust. In Review 7/27/2023 Trustly, Inc., d/b/a Trustly US, Stockholm, Sweden—Request to use the word “trust” in the registered trade name of the business. Approved by the Commissioner 7/27/23 7/18/2023 Western State Bank, Devils Lake—Request to TEMPORARILY relocate the main office from 110 Fourth Street SE, Devils Lake, ND to 508 College Drive South, Devils Lake, ND. In Comment Period 7/25/2023 Med Park Credit Union, Grand Forks—Request to relocate the main office from 1200 South Columbia Road, Grand Forks, ND to 2150 32nd Avenue S Suite E, Grand Forks, ND. Approved by the Commissioner 7/27/23 6/27/2023 Western Cooperative Credit Union, Williston—Application to close branch located at 107 Main Street, Glen Ullin, ND. Approved by the Commissioner 6/27/23 4/26/2023 Cornerstone Bank, Fargo—Application to close facility located at 221 Main Street, Makoti, ND. Approved by the Commissioner 7/18/23