NOTICE OF APPLICATIONS BY FRANDSEN BANK & TRUST LONSDALE, MINNESOTA
NOTICE OF APPLICATIONS
FRANDSEN BANK & TRUST
Notice is hereby given that Frandsen Bank & Trust, 116 Central Street West, Lonsdale, Rice County, Minnesota 55046 has made application to the Minnesota Department of Commerce and the Federal Deposit Insurance Corporation for consent to acquire through merger Queen City Federal Savings Bank, 501 Chestnut Street, Virginia, St. Louis County, Minnesota 55792 and to establish detached facilities at: 501 Chestnut Street, Virginia, St. Louis County, Minnesota 55792 (DF 1188); 1401 South 12th Avenue, Virginia, St. Louis County, Minnesota 55792 (DF 1189); 102 East Sheridan Street, Ely, St. Louis County, Minnesota 55731 (DF 1190); 415 Main Street, Tower, St. Louis County, Minnesota 55790 (DF 1191); 405 3rd Street, Carlton, Carlton County, Minnesota 55718 (DF 1192); and 712 Highway 33 South, Cloquet, Carlton County, Minnesota 55720 (DF 1193). It is contemplated that business locations of the merged banks will continue to be operated. The applications were made pursuant to Minnesota Statutes, Sections 49.33 to 49.41, and 47.51 to 47.57 plus Section 18 (c) of the Federal Deposit Insurance Act. The above applications were filed with the Minnesota Department of Commerce on April 14, 2011.
This notice is being published in the Mesabi Daily News, Virginia, MN on April 29, May 12 and May 24, 2011 and in The Ely Echo, Ely, MN on April 30, 2011 and in the Timberjay, Tower, MN on April 30, 2011 and in the Cloquet Pine Journal, Cloquet, MN on April 28, 2011 and in the Lonsdale Area News Review, Lonsdale, MN on April 26, May 10 and May 24, 2011.
Any person, bank, or other financial institution has a right to file written communication in favor of or against the applications described above. Written comments will become a part of the public record on the application and should be addressed to:
Kevin M. Murphy, Deputy Commissioner
Minnesota Department of Commerce
Division of Financial Institutions
85 7th Place East, Suite 500
St. Paul, MN 55101
James D. LaPierre, Regional Director
Federal Deposit Insurance Corporation
2345 Grand Ave
Kansas City, Missouri 64108
Written comments to the Minnesota Department of Commerce must be received within fifteen (15) calendar days after the publication date in Virginia, Ely, Tower, Cloquet and Carlton, Minnesota pursuant to Minnesota Statutes, Section 47.54. An administrative hearing in accordance with the provisions of the Administrative Procedure Act, Minnesota Statutes, Chapter 14, may be ordered at the discretion of the Commissioner to hear testimony and to take evidence in favor of or against the applications. In addition, the nonconfidential sections of the applications are available for review at the Minnesota Department of Commerce in St. Paul. For an appointment for public review or for information on copies and related charges, please telephone (651) 297-4867 during normal business hours of 8:00 a.m. to 4:00 p.m.
Any person wishing to comment on this application may file his or her comments in writing with the Regional Director of the Federal Deposit Insurance Corporation at its regional office located at 2345 Grand Boulevard, Suite 1200, Kansas City, Missouri 64108 not later than May 31, 2011. The nonconfidential portions of the application are on file in the regional office and are available for public inspection during regular business hours. Photocopies of the non-confidential portion of the application file will be made available upon request.
Frandsen Bank & Trust
116 Central Street West
Lonsdale, Minnesota 55046
Minnesota Bank Charter 1716
FDIC Certificate No. 01399