Regulatory Alerts2024-10-01
Added · Updated
Monthly Bulletin — October 2024
The North Dakota Department of Financial Institutions issued this bulletin to inform the public and financial institutions of pending applications by state-chartered banks, credit unions, and trust companies. The document details specific regulatory actions including the approval of facility closures and mergers, while noting that several applications for new branches, trust companies, and changes of control remain in the comment period or await board decisions. Additionally, the bulletin establishes the usury rate for unregulated lenders at 10.298% for November 2024.
BULLETIN APPLICATIONS 11.1.2024 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. Facility Closure 8/29/2024 First Western Bank & Trust, Minot, ND—Application to close facility at 4040 42nd St S, Fargo, ND. Approved by the Commissioner 10/24/2024 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. Public hearing scheduled for 11/25/2024 at 1:00 PM at 1200 Memorial Hwy, Bismarck, ND Branch/Facility 10/28/2024 United Valley Bank, Cavalier, ND—Application to establish a facility located at 3300 Jacks Way, Fargo, ND. In Comment Period 10/16/2024 Bell Bank, Fargo, ND—Application to establish a facility located at 4303 S Columbia Rd, Ste. 103, Grand Forks, ND. In Comment Period Merger 9/3/2024 BankNorth, Arthur, ND—Application to merge Harwood State Bank, Harwood, ND with BankNorth. Approved by the Commissioner 10/10/2024 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 VISONBank, Fargo, ND. In Comment Period Request to Hold Investment in Service Corporation 10/7/2024 Choice Financial Group, Fargo, ND—Request to invest in Propel Nonprofits. Awaiting Board Decision The usury rate for unregulated lenders for the month of November 2024 is 10.298%. Usury 10/28/2024 Bravera Wealth, Dickinson, ND—Application to establish an interstate trust branch at 1135 Euclid Avenue, Helena, MT. In Comment Period 10/28/2024 Bravera Wealth, Dickinson, ND—Application to establish an interstate trust branch at 1019 7th St South, Great Falls, MT. In Comment Period Interstate Branch/Facility