Regulatory Alerts2022-05-01
Added · Updated
Monthly Bulletin — May 2022
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 approvals for name waivers and the establishment of limited purpose offices, while noting pending applications for bylaw amendments and changes in control. Additionally, the bulletin announces that the usury rate for unregulated lenders is set at 7.00% for June 2022.
BULLETIN APPLICATIONS 6.02.2022 Amend Articles of Association Change in Control LPO Application Name Waiver Bylaw Change Usury The usury rate for unregulated lenders the month of June 2022 is 7.00% 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 Date Applicant Status 4/27/2022 First Community Credit Union—Application to amend bylaws Awaiting Board Approval 4/19/2022 Western State Bank, Devils Lake—Application to amend Articles Awaiting Board Approval 5/2/2022 Etana Trust Company, Denver, CO—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 5/3/2022 5/4/2022 Ameris Bank, Atlanta, GA—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 5/5/2022 5/3/2022 Prime Trust, LLC, Las Vegas, NV—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 5/26/2022 5/19/2022 Coldwell Banker Realty Network LLC, Madison, NJ—Request to use the word “banker” in the registered trade name of the business Approved by the Commissioner 5/19/2022 5/23/2022 First Interstate Bank, Billings, MT—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 5/24/2022 5/24/2022 Osgood Bank, Osgood, OH—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 5/25/2022 5/26/2022 Minnesota Land Trust, St. Paul, MN—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 5/26/2022 4/29/2022 BankNorth, Arthur—Application for Williams Family 2021 Irrevocable Trust Agreement, Casselton, ND, of which James L. Williams III, is the sole trustee, to retain control of 10 percent or more of the shares and thereby control of First Financial Corporation, Arthur, ND, and thereby join the Williams Family Group, which controls 25 percent or more of the company. First Financial Corporation is the parent company of BankNorth. In Comment Period 5/24/2022 Bell Bank, Fargo—Application to establish an LPO at 1390 7th St W, St. Paul, MN Approved by the Commissioner 5/26/2022 5/26/2022 Bell Bank, Fargo—Application to establish an LPO at 2526 Holmes St, Kansas City, MO Approved by the Commissioner 5/26/2022