1275536 Public Notice - Proposed Bank Merger
Publish June 29, July 13, 22, 2011
NOTICE OF PROPOSED MERGER
Notice is hereby given that BlackRidgeBANK, Fargo, North Dakota, has made application to the Federal Deposit Insurance Corporation for its written consent to merge with the First State Bank of Alexandria, Alexandria, Minnesota and Lakewood Bank, N.A., Baxter, Minnesota. It is contemplated that all offices of the above-named institutions will continue to be operated.
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 1100 Walnut, Suite 2100, Kansas City, Missouri 64106 not later than July 29, 2011. The non-confidential 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.
You are further notified that Section 13-02-13-03.1, North Dakota Administrative Code, provides that any bank or party may submit to the North Dakota State Banking Board written comments concerning the application or a written request for an opportunity to be heard before the board, or both. Comments must be mailed to or received by the State Banking Board, Department of Financial Institutions, 2000 Schafer Street, Suite G, Bismarck, ND 58501-1204 not later than July 29, 2011. You may also request a copy of the application at the above address.
You are also advised that per Sections 6-03-11, 6-03-13.3 and 6-08.4-03 North Dakota Century Code, the State Banking Board shall take into consideration the following facts in determining whether or not to approve the application: 1) Whether proper notification has been given to all shareholders, 2) whether at least two-thirds of shareholders have ratified the plan of reorganization or merger; 3) the proposed transaction will not be detrimental to the safety and soundness or the financial strength, of BlackRidgeBANK in relation to the adequacy of capital as well as the cost of establishing and maintaining such separate facility; 4) whether the proposed transaction is consistent with the convenience, needs, and welfare of the people of the community and area served by BlackRidgeBANK and is otherwise in the public interest, and 5) the adequacy and competence of management including whether any new officers and directors are qualified and possess appropriate experience and financial responsibility.