Regulatory Alerts2021-11-01
Added · Updated
Monthly Bulletin — November 2021
The North Dakota Department of Financial Institutions issued this bulletin to inform the public of applications by state-chartered banks, credit unions, and trust companies. The document lists specific regulatory actions including branch establishments, mergers, name waivers, and changes in control, detailing their current status such as approved, in review, or awaiting board approval. Additionally, it announces that the usury rate for unregulated lenders for December 2021 is set at 7.00 percent.
BULLETIN APPLICATIONS 12.1.2021 Branch/Facility Change in Control Interstate Branch LPO Application Merger Application Name Waiver Relocation of Main Office 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. Date Applicant Status The usury rate for unregulated lenders the month of December 2021 is 7.00% 10/22/2021 Bravera Wealth, Dickinson (fka American Trust Center)—Application to establish a trust facility at 604 College Drive South, Devils Lake, ND Approved by the Commissioner 11/12/21 11/1/2021 Hometown Credit Union, Kulm—Application to establish a branch at 301 5th Ave NE, Medina, ND Awaiting Board Approval 11/2/2021 Dakota Heritage Bank, Hunter—Application to establish a facility at 101 2nd Ave SW, Medina, ND Approved by the Commissioner 11/19/21 11/23/2021 Merchants Bank, Rugby—Application to establish a facility at 649 Knutson Street, Mapleton, ND In Review 10/15/2021 Peoples State Bank, Westhope—Application for Robert Sharkey and Laura Rowell, individually and acting in concert, to acquire control of 25% or more of the voting stock of Peoples State Holding Company, which controls 100% of Peoples State Bank, both of Westhope, ND Approved by the Commissioner 11/17/21 10/21/2021 First International Bank and Trust, Watford City—Application to establish an interstate branch at 601 S Minnesota Ave, Sioux Falls, SD Approved by the Commissioner 11/16/21 11/26/2021 Bravera Wealth, Dickinson (fka American Trust Center)—Application to establish an interstate trust branch at 123 N Broadway, Billings, MT In Comment Period 11/3/2021 KodaBank, Drayton—Application to establish an LPO/DPO at 4626 Amber Valley Parkway S, Fargo, ND Approved by the Commissioner 11/3/21 10/20/2021 First Community Credit Union, Jamestown—Application to merge Elm River Credit Union, Page, with and into First Community Credit Union Awaiting Board Approval 10/20/2021 Garrison State Bank & Trust, Garrison—Application to merge Farmers Security Bank, Washburn and Bank of Turtle Lake, Turtle Lake with and into Garrison State Bank & Trust and change the name to “TruCommunity Bank” Approved by the Commissioner 11/29/21 11/3/2021 TruCommunity Trust, Garrison—Request to use the word “trust” in the registered trade name of the business Approved by the Commissioner 11/4/2021 11/9/2021 Bank Forward, Hannaford—Application to relocate the main office from Hannaford, ND to Fargo, ND Approved by the Board 11/18/21