Regulatory Alerts2025-09-01
Added · Updated
Monthly Bulletin — September 2025
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 details the status of various requests, including a retroactive change of control for First Holding Company of Cavalier and several approvals for entities to use specific terms like 'trust' or 'credit union' in their trade names. Additionally, the bulletin announces the October 2025 usury rate for unregulated lenders at 9.522% and confirms the approval of interstate branch and LPO relocations.
BULLETIN APPLICATIONS 10.01.2025 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, state-chartered 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. The usury rate for unregulated lenders for the month of October 2025 is 9.522%. Usury Name Waiver Change of Control 6/16/2025 First Holding Company of Cavalier, Inc., Cavalier, ND—Retroactive Change of Control Application for Blake Trenbeath to join the Mayo Family Shareholder group, a group acting in concert, which controls 25 percent or more of the company. First Holding Company of Cavalier, Inc. is the parent company of United Valley Bank, Cavalier, ND. In review 8/5/2025 Standard Custody & Trust Company, LLC d/b/a Ripple Custody & Trust Co., Albany, NY—Request to use the word “trust” in the registered trade name. Approved by the Commissioner 9/26/2025 9/15/2025 Ent Credit Union, Colorado Springs, CO—Request to use the words “credit union” in the registered trade name. Approved by the Commissioner 9/24/2025 9/22/2025 Donlen Trust, Schaumburg, IL, a business engaged in fleet management and vehicle leasing services—Request to use the word “trust” in the registered trade name. Approved by the Commissioner 9/22/2025 9/24/2025 Wealth Enhancement Trust Services, Sioux Falls, SD—Request to use the word “trust” in the registered trade name. Approved by the Commissioner 9/25/2025 Trust Company 7/16/2025 Trust Company of the Dakotas, Minot, ND—Application to establish a new trust company. In review Relocation 8/4/2025 Western State Bank, Devils Lake, ND—Application to relocate interstate branch from 7001 N Scottsdale Rd, Suite 100 to 6929 E. Shea Blvd, Scottsdale, AZ. Approved by the Commissioner 9/2/2025 LPO Relocation 9/26/2025 Bell Bank, Fargo, ND—Application to relocate an LPO from 243 West Park Ave., Suite 200, Winter Park, FL, to 222 West Comstock Ave., Suite 210, Winter Park, FL. Approved by the Commissioner 9/262025