News Column

Fed Receives Minnesota Bank Acquisition Application, Comments Requested

June 18, 2014

by JUDE BAUTISTA Targeted News Service

WASHINGTON, June 18 -- The Federal Reserve System has received applications for the formation, acquisition or merger of bank holding companies.

A notice (Doc. No. 2014-0123) published in the Federal Register on June 18 listed the following application:

MINNESOTA: Minnwest Corp., Minnetonka, Minnesota, to acquire 100 percent of the voting shares of HiLine Credit Corp., Morris, Minnesota, by merging it with and into its wholly owned nonbank subsidiary, Minnwest Finance Inc., Minnetonka, Minnesota, and thereby engage in extending credit and servicing loans, pursuant to section 225.28(b)(1).

Comments may be sent to the Federal Reserve Bank of Minneapolis (Jacquelyn K. Brunmeier, Assistant Vice President) 90 Hennepin Ave., Minneapolis, MN 55480-0291 by July 3.

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Source: Targeted News Service

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