NOTICE OF CHANGE IN CONTROL

Published 1:09pm Friday, January 25, 2013

(First Publication January 18, 2013)

NOTICE OF CHANGE IN CONTROL
Kellen Shebeck and Meegan Heibebrink have applied to the Federal Reserve Board for permission to individually retain 25 percent or more of the shares and thereby control of Underwood Bancshares, Inc., located in Underwood, Minnesota. Underwood Bancshares, Inc. controls Farmers State Bank of
Underwood located in Underwood, Minnesota. The Federal Reserve considers a number of factors in deciding whether to approve the notice.

You are invited to submit comments in writing on this notice to the Federal Reserve Bank of Minneapolis, P.O. Box 291, Minneapolis, MN 55480-0291. The comment period will not end before February 1, 2013 and may be somewhat longer. The Board’s procedures for processing applications may be found at 12 C.F.R. Part 262.25. To obtain a copy of the Federal Reserve Board’s procedures, or if you need more information about how to submit your comments on the notice, contact Jacqueline G. King, Community Affairs Officer, at (612) 204-5470. The Federal Reserve will consider your comments and any request for a public meeting or formal hearing on the notice if they are received in writing by the Reserve Bank on or before the last day of the comment period.

Publication Date: January 18, 2013.

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