Regulatory Alerts2025-07-01
Added · Updated
Monthly Bulletin — July 2025
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of recent applications and regulatory actions. The document details the approval of interstate branch establishments by Bravera Wealth and First Western Bank, alongside the approval of a name waiver for Paxos Trust Corporation. Additionally, it lists several pending matters including change of control applications for First Holding Company of Cavalier and Grant County BanCorporation, a merger review for Bravera Bank, and a new trust company application by Trust Company of the Dakotas.
Date Applicant Status
The usury rate for unregulated lenders for the month of August 2025 is 9.618%. Usury 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. BULLETIN APPLICATIONS 08.01.2025 Interstate Branch 3/5/2025 Bravera Wealth, Dickinson, ND—Application to establish an interstate trust branch at 11102 57th St NE, Albertville, MN. Approved 7/21/2025. 6/2/2025 First Western Bank & Trust, Minot, ND—Application to establish an interstate branch at 3001 N Alma School Road, Chandler, AZ. Approved 7/21/2025. 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. In review. Merger 6/17/2025 Bravera Bank, Dickinson, ND—Application to merge VISIONBank, Fargo, ND with and into Bravera Bank. In review. 6/23/2025 Paxos Trust Corporation, LLC d/b/a Paxos, LLC, New York, NY—Request to use the word “trust” in the registered trade name. Applicant will use the trade name “Paxos, LLC” in ND to eliminate confusion because the entity is not operating as a trust company in ND. Approved by commissioner 7/8/2025. Trust Company 7/16/2025 Trust Company of the Dakotas, Minot, ND—Application to establish a new trust company. In review.