Regulatory Alerts2024-11-01
Added · Updated
Monthly Bulletin — November 2024
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 specific approvals, denials, and pending statuses for entities including Luminate Bank, Trust Company of the Dakotas, and Bravera Holding Corp. Additionally, it announces the usury rate for unregulated lenders for December 2024 and lists pending applications for interstate trust branches.
BULLETIN APPLICATIONS 12.1.2024 Date Applicant Status 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. Name Waiver 11/4/2024 Luminate Bank, Minneapolis, MN—Request to use the work “Bank” in the registered trade name. Approved by Commissioner 11/5/2024 Trust Company 7/8/2024 Trust Company of the Dakotas (proposed name changed from Dakota Trust Company), Williston, ND—Application to establish a new trust company. Application denied by the State Banking Board 11/25/2024 Branch/Facility 10/28/2024 United Valley Bank, Cavalier, ND—Application to establish a facility located at 3300 Jacks Way, Fargo, ND. Approved by the Commissioner 11/8/2024 10/16/2024 Bell Bank, Fargo, ND—Application to establish a facility located at 4303 S Columbia Rd, Ste. 103, Grand Forks, ND. Approved by the Commissioner 11/8/2024 Request to Hold Investment in Service Corporation 10/7/2024 Choice Financial Group, Fargo, ND—Request to invest in Propel Nonprofits. Approved by State Banking Board 11/6/2024 Change of Control 10/7/2024 Bravera Holding Corp., Dickinson, ND—Application to acquire Vision Bank Holdings, Inc., Fargo, ND; Vision Bank Holdings controls 100% of VISIONBank, Fargo, ND. Approved by Commissioner 11/29/2024 The usury rate for unregulated lenders for the month of December 2024 is 10.155%. Usury 10/28/2024 Bravera Wealth, Dickinson, ND—Application to establish an interstate trust branch at 1135 Euclid Avenue, Helena, MT. Approved by Commissioner 11/27/2024 10/28/2024 Bravera Wealth, Dickinson, ND—Application to establish an interstate trust branch at 1019 7th St South, Great Falls, MT. Approved by Commissioner on 11/27/2024 11/27/2024 Bell Bank, Fargo, ND—Application to establish an interstate trust branch at 172 S Academy, Suite 130, Eagle, ID In comment period Interstate Branch/Facility