Regulatory Alerts2023-06-01
Added · Updated
Monthly Bulletin — June 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 the approval of facility closures by Cornerstone Bank and Bell Bank, name waivers for The Bancorp Bank and Lutheran Trust, and the merger of United Community Bank into Bravera Bank. Additionally, the bulletin announces the usury rate for unregulated lenders for July 2023 as 10.409% and notes that an application by First Western Bank & Trust to merge State Bank of Lismore is currently under review.
BULLETIN APPLICATIONS 6.30.2023 Facility Closure Merger Name Waiver Usury
The usury rate for unregulated lenders the month of July 2023 is 10.409% 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 4/26/2023 Cornerstone Bank, Fargo—Application to close facility located at 221 Main Street, Makoti, ND In Comment Period 5/8/2023 Bell Bank, Fargo—Application to close facility located at 214 5th St N, Breckenridge, MN Approved by the Commissioner 6/30/2023 6/23/2023 The Bancorp Bank, N.A., Sioux Falls, SD—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 6/27/2023 6/26/2023 Lutheran Trust, St. Charles, MO—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 6/27/2023 5/12/2023 Bravera Bank, Dickinson—Application to merge United Community Bank, Leeds, with and into Bravera Bank. Approved by the Commissioner 6/15/2023 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