Boundary waters bank full#
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You can visit the official website of the bank at for more information and online banking service if available.

Boundary waters bank full#

The full address of bank headquarters is 601 East Sheridan Street, Ely, MN 55731. Ely's one and only independent, community bank offers a full range of banking products and services along with unmatched customer service.

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Boundary waters bank code#

The bank does not have any offices outside Minnesota.īank routing number is a 9 digit code which is necessary to process Fedwire funds transfers, process direct deposits, bill payments, and other such automated transfers. Boundary Waters Bank is the 135th largest bank in Minnesota. Address 601 East Sheridan Street Ely Minnesota 55731. The assigned Fed RSSD ID of Boundary Waters Bank is 2749059.īoundary Waters Bank currently operates with 3 branches located in Minnesota. Boundary Waters Bank is a bank located in Ely, Minnesota and regulated as part of the Kansas City region. Boundary Waters Bank is a FDIC-insured bank with certificate number of 35172. According to the Federal Deposit Insurance Corporation records and based on the institution's charter type, Boundary Waters Bank is classified as a commercial bank, state charter and Fed nonmember, supervised by the FDIC. F.D.I.C., 934 F.2d 681, 687 (5th Cir.1991).Boundary Waters Bank was founded in April 1999 and is based in Ely, Minnesota.

Boundary waters bank free#

'Though the FDIC is free to establish necessary procedural mechanics, it may not give less than what Congress chooses to grant.' Amberg v. Implicit in that is a mandate that the hearing be fundamentally fair. The statute provides that a respondent who makes a timely hearing request, as Oberstar did, 'shall be afforded an agency hearing.' 12 U.S.C.

Family Publications Service, Inc., 411 U.S. 1197, 1211, 55 L.Ed.2d 460 (1978), those regulations must be 'reasonably related to the purposes of the enabling legislation.' Mourning v. National Resources Defense Council, Inc., 435 U.S. Although it is true that 'agencies should be free to fashion their own rules of procedure,' Vermont Yankee Nuclear Power Corp. The FDIC argues, however, that it may apply its own procedural rules, which require entry of a default judgment 'pon a finding that no good cause has been shown for the failure to file a timely answer.' 12 C.F.R. And there is simply no other evidence that Oberstar's conduct in attending the August 6 shareholders' meeting and voting the Kronholm shares to reelect incumbent directors resulted in an 'abnormal risk or loss' for the Bank. Here, the Board concluded 'that when one acquires control of an institution in spite of a previous denial of such control under the for lack of competence and integrity, such conduct is, by definition, an unsafe or unsound act.' Since the Board's premise-that Oberstar acquired control through the Kronholm proxies-was incorrect, its ultimate conclusion cannot be sustained. Department of the Treasury, 568 F.2d 610, 611 n. Unsafe and unsound banking practices are defined as 'conduct deemed contrary to accepted standards of banking operations which might result in abnormal risk or loss to a banking institution or shareholder.' First Nat'l Bank of Eden v. The Board also concluded that Oberstar engaged in misconduct by committing an 'unsafe or unsound practice.' See 12 U.S.C. 5 Given the undisputed evidence demonstrating that the proxies effected neither a change in control nor a disposition of the Kronholms' voting stock, the FDIC's determination that Oberstar violated the Control Act is without support. disposition of voting stock,' out of the statute. As applied in this case, the FDIC's construction effectively reads the limiting phrase, 'through a.

2458, 2463, 81 L.Ed.2d 282 (1984) (deference to an agency's reading of statutory language is unwarranted when the agency's interpretation is unsupported by a natural reading of the provision). It was operating under two restrictive FDIC orders. 2778, 2792-93, 81 L.Ed.2d 694 (1984), we conclude that it does unacceptable violence to the plain language of the statute for the agency to create narrow classes of 'exempt transactions' and then hold that all other transactions are automatically covered. In mid-1990, the Boundary Waters State Bank of Ely, Minnesota (the Bank), was in serious trouble. Natural Resources Defense Council, 467 U.S. Though we must uphold any reasonable FDIC interpretation of the Control Act, see Chevron U.S.A., Inc. The FDIC argues on appeal that Oberstar violated the Control Act because the proxies do not fit the agency's definition of a 'customary one-time proxy' in 12 C.F.R.