Regulatory Alerts2021-10-01
Added · Updated
Monthly Bulletin — October 2021
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of pending and approved applications by state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions, including the approval of new interstate branches and loan production offices, mergers, name waivers, and control acquisitions, while noting several applications currently in the comment period. Additionally, it announces the usury rate for unregulated lenders for November 2021 and reports on a request for retroactive capital reduction approval.
BULLETIN APPLICATIONS 11.1.2021 Branch/Facility Change in Control
Interstate Branch LPO Application Merger Application Name Waiver Reduce Capital 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 10/28/2021 Bell Bank, Fargo—Application to establish an LPO at 2220 Central Ave NE, Minneapolis, MN Approved by the Commissioner 10/28/2021 The usury rate for unregulated lenders the month of November 2021 is 7.00% 10/20/2021 First Community Credit Union, Jamestown—Application to merge Elm River Credit Union, Page, with and into First Community Credit Union In Comment Period 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 In Comment Period 8/31/2021 First Western Bank & Trust, Minot—Application to establish an interstate branch at 320 S Phillip Ave, Ste 201, Sioux Falls, SD Approved by the Commissioner 10/7/2021 10/21/2021 First International Bank and Trust, Watford City—Application to establish an interstate branch at 601 S Minnesota Ave, Sioux Falls, SD In Comment Period 10/7/2021 Horizon Financial Bank, Munich—Request for an extension to establish a facility at 102 9th Avenue NE, Langdon, ND Approved by the Commissioner 10/7/2021 10/22/2021 Bravera Wealth, Dickinson (fka American Trust Center)— Application to establish a trust facility at 604 College Drive South, Devils Lake, ND In Comment Period 11/1/2021 Hometown Credit Union, Kulm—Application to establish a branch at 301 5th Ave NE, Medina, ND In Comment Period 10/7/2021 TS Bank, Treynor, IA—Request to use the word “bank” in the registered trade name of the business Approved by the Commissioner 10/7/2021 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 10/29/2021 10/19/2021 Commercial Bank of Mott, Mott—Request for retroactive approval to reduce capital Awaiting State Banking Board Approval