Community Reinvestment Act
Public File
This file is maintained pursuant to the requirements of the Federal Community Reinvestment Act (12 U.S.C. § 2901 et seq.) and OCC regulations at 12 CFR Part 25. It is available for public inspection during normal business hours.
Last updated: April 2026 | Current Evaluation Issued: September 8, 2025 | Regulatory Authority: Office of the Comptroller of the Currency
Community Reinvestment Act Public Notice
B2 BANK NATIONAL ASSOCIATION
COMMUNITY REINVESTMENT ACT NOTICE
Under the Federal Community Reinvestment Act (CRA), the Comptroller of the Currency evaluates our record of helping to meet the credit needs of this community consistent with safe and sound operations. The Comptroller also takes this record into account when deciding on certain applications submitted by us.
Your involvement is encouraged.
You are entitled to certain information about our operations and our performance under the CRA, including information about our branches, their location and services; the public section of our most recent CRA Performance Evaluation, prepared by the Comptroller; and comments received from the public relating to our performance in helping to meet community credit needs, as well as our responses to those comments. You may review this information today.
At least 30 days before the beginning of each quarter, the Comptroller publishes a nationwide list of banks scheduled for CRA examination. This list is available from the Deputy Comptroller Central District Office of the Comptroller of the Currency, 425 S. Financial Place, Suite 1700, Chicago, IL 60605.
You may send written comments about our performance in helping to meet community credit needs to:
Ryan Jaskiewicz, CEO
B2 Bank National Association
8355 Unity Drive, PO Box 382
Mountain Iron, MN 55768
and to the Deputy Comptroller Central District Office of the Comptroller of the Currency, 425 S. Financial Place, Suite 1700, Chicago, IL 60605. You may also submit comments electronically through the OCC's Web site at www.occ.treas.gov. Your letter, together with any response by us, will be considered by the Comptroller in evaluating our CRA performance and may be made public.
You may ask to look at any comments received by the Deputy Comptroller. You may also request an announcement of our applications covered by the CRA filed with the Comptroller.
We are an affiliate of B2 Bancorp, Incorporated, a bank financial holding company. You may request from the Vice President, Federal Reserve Bank of Minneapolis, 90 Hennepin Avenue, Minneapolis, MN 55401, an announcement of applications covered by the CRA filed by bank holding companies.
CRA Performance Evaluation
Key Findings Supporting the Satisfactory Rating
| Factor | Result | Detail |
|---|---|---|
| Loan-to-Deposit (LTD) Ratio | ✅ Reasonable | Average LTD of 56.79% over 20 quarters (2020–2024). Ranged from 33.46% (Q3 2023) to 81.64% (Q1 2020). Ranked 4th among 6 similarly-situated institutions. LTD temporarily impacted by rapid deposit growth from M1 high-yield savings partnership launched Q2 2023. |
| Lending in Assessment Area | ⚠️ Majority Outside AA | 45% of loans by number inside AA; 55% outside. Home mortgage lending showed substantial majority inside the AA (85%), but consumer loans were 95% outside — driven by nationwide digital lending through affiliate M1 (89% of consumer lending, 84% of total by number). |
| Borrower Income Distribution | ✅ Excellent | Excellent distribution of loans to individuals of different income levels. Consumer loans to LMI borrowers (43.33% low, 28.33% moderate) exceeded LMI household percentages in AA. |
| Geographic Distribution | ✅ Reasonable | Reasonable geographic distribution across income-level geographies. No unexplainable conspicuous gaps in lending to LMI geographies. |
| CRA Complaints | ✅ None Received | The bank received no complaints regarding its CRA performance since the prior CRA evaluation. |
| Discriminatory Practices Review | ✅ None Identified | OCC has not identified discriminatory or other illegal credit practices requiring consideration in this evaluation. (Pursuant to 12 CFR 25.28(c), March 29, 2024.) |
Table 1: Lending Inside and Outside the Assessment Area (2022–2024)
| Loan Category | Number of Loans | Dollar Amount of Loans $(000s) | Total $(000s) | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Inside # | Inside % | Outside # | Outside % | Inside $ | Inside % | Outside $ | Outside % | ||
| Home Mortgage | 17 | 85.0% | 3 | 15.0% | $2,140 | 64.9% | $1,159 | 35.1% | $3,299 |
| Consumer | 1 | 5.0% | 19 | 95.0% | $2 | 0.4% | $426 | 99.6% | $427 |
| Total | 18 | 45.0% | 22 | 55.0% | $2,142 | 57.5% | $1,584 | 42.5% | $3,726 |
Source: 1/1/2022 – 12/31/2024 Bank Data. Due to rounding, totals may not equal 100.0%.
Description of Institution
B2 is a federally chartered intrastate bank headquartered in Mountain Iron, Minnesota, wholly owned by B2 Bancorp, Incorporated. The bank has two locations: a main office in Mountain Iron, MN and a branch in Buhl, MN. There are no deposit-taking ATMs. No branch or deposit-taking ATM openings or closings have occurred since the last CRA evaluation. B2 has one Assessment Area, reflected in the State of Minnesota rating area.
In July 2021, one individual personally acquired control of the bank, eliminating the former holding company. In October 2021, the OCC approved a substantial asset change under 12 C.F.R. § 5.53. Bank ownership subsequently moved to B2 Bancorp under a bank holding company structure. In November 2022, the bank changed its name from The First National Bank of Buhl to B2. In December 2022 and May 2023, B2 began offering unsecured consumer loans and personal deposit accounts nationwide in partnership with affiliate M1 Finance, LLC (M1).
As of December 31, 2024, the bank reported $34.5 million in outstanding loans. The loan portfolio by total commitment: 47% home mortgages, 38% consumer, 15% business, 0% farm loans. Net loans represented 41% of total assets. Tier one capital totaled $10.4 million. The bank received an "Outstanding" rating at the last CRA evaluation dated April 27, 2020.
Appendix D: Performance Data Tables — State of Minnesota (2022–2024)
Table 7: Home Mortgage Loans by Income Category of Geography
| Assessment Area | # Loans | $ (000s) | Low-Income Bank % |
Low-Income Owner-Occ % |
Moderate-Income Bank % |
Moderate-Income Owner-Occ % |
Middle-Income Bank % |
Upper-Income Bank % |
|---|---|---|---|---|---|---|---|---|
| Duluth-Grand Rapids CSA | 44 | $5,913 | 2.27% | 1.47% | 9.09% | 25.83% | 86.36% | 2.27% |
Source: FFIEC File — 2024 Census; 1/1/2022–12/31/2024 Bank Data, 2024 HMDA Aggregate Data.
Table 8: Home Mortgage Loans by Income Category of Borrower
| Assessment Area | # Loans | Low-Income Families % |
Low-Income Bank % |
Moderate-Income Families % |
Moderate-Income Bank % |
Middle-Income Families % |
Middle-Income Bank % |
Upper-Income Families % |
Upper-Income Bank % |
|---|---|---|---|---|---|---|---|---|---|
| Duluth-Grand Rapids CSA | 44 | 22.39% | 13.64% | 20.35% | 25.00% | 23.29% | 34.09% | 33.97% | 20.45% |
Source: FFIEC File — 2024 Census; 1/1/2022–12/31/2024 Bank Data, 2024 HMDA Aggregate Data.
Table 13: Consumer Loans by Income Category of Geography
| Assessment Area | # Loans | $ (000s) | Low-Income HH % |
Low-Income Bank % |
Moderate-Income HH % |
Moderate-Income Bank % |
Middle-Income HH % |
Middle-Income Bank % |
|---|---|---|---|---|---|---|---|---|
| Duluth-Grand Rapids CSA | 60 | $1,003 | 3.61% | 1.67% | 29.07% | 16.67% | 63.90% | 81.67% |
Source: FFIEC File — 2024 Census; 1/1/2022–12/31/2024 Bank Data.
Table 14: Consumer Loans by Income Category of Borrower
| Assessment Area | # Loans | Low-Income HH % |
Low-Income Bank % |
Moderate-Income HH % |
Moderate-Income Bank % |
Middle-Income HH % |
Middle-Income Bank % |
Upper-Income HH % |
Upper-Income Bank % |
|---|---|---|---|---|---|---|---|---|---|
| Duluth-Grand Rapids CSA | 60 | 28.04% | 43.33% | 16.25% | 28.33% | 18.72% | 16.67% | 37.00% | 10.00% |
Source: FFIEC File — 2024 Census; 1/1/2022–12/31/2024 Bank Data.
Loan-to-Deposit Ratios
Quarterly and monthly loan-to-deposit ratios for B2 Bank National Association (formerly First National Bank of Buhl). Data maintained pursuant to 12 CFR Part 25.
★ Name change from First National Bank of Buhl to B2 Bank National Association effective November 1, 2022.
Source: Call Report data. Data is provided as maintained per 12 CFR 25.43(a)(4).
Branch Locations & Services
Mountain Iron Office
8355 Unity Drive, Suite 400Mountain Iron, MN 55768
P.O. Box 382
Buhl Branch
Buhl, MNP.O. Box 706
Buhl, MN 55713-0706
Branch Activity (Current & Prior Year)
| Branch | Type of Activity | Year | Notes |
|---|---|---|---|
| No branch openings or closings have occurred since the last CRA evaluation. There have been no mergers or acquisitions during the current or preceding calendar year. | |||
Deposit Products & Services
Personal Checking & Savings Accounts
| Account Name | Min. Opening Deposit | Service Charge | Interest Bearing | Notes |
|---|---|---|---|---|
| Checking Accounts | ||||
| Penny-wise Checking | $100.00 | None | No | First box of checks free |
| Freedom 50 Checking | $50.00 | None | Yes | Must be 50 years of age or older |
| NOW Account | $1,000.00 | $10/mo (waived with min. balance) | Yes | Min. daily balance: $1,000 |
| Savings Accounts | ||||
| Money Market | $500.00 | $7.50/mo (waived with min. balance) | Yes | Tiered interest based on balance; min. daily balance: $500 |
| Money-wise Savings | $100.00 | $6.00/qtr (waived with min. balance) | Yes | Min. daily balance: $100 |
Certificate of Deposit (CD) Options
| Product | Min. Opening Balance | Service Charge | Interest Bearing | Notes |
|---|---|---|---|---|
| Certificate of Deposit | $500.00 | None | Yes (term-based) | Statements at maturity; early withdrawal penalties apply |
Individual Retirement Account (IRA) Options
| Account Name | Min. Opening Deposit | Interest Rate | Statements | Notes |
|---|---|---|---|---|
| IRA Savings | $100.00 | Personal Savings Account rate | Quarterly | Multiple deposits allowed |
| IRA Premier Savings | Tiered | Personal Money Market tiered rates | Quarterly | Multiple deposits allowed |
| IRA Certificate | $500.00 | Based on CD term options | At maturity | Early withdrawal penalties apply |
Loan Products
| Loan Type | Purpose | Category |
|---|---|---|
| Vehicle Loans | Purchase of new or used car, truck, or SUV | Consumer |
| Consumer Loans | Recreational vehicles, snowmobiles, four-wheelers, personal expenses | Consumer |
| Home Mortgage Loans | Purchase of primary or secondary residence, or refinancing | Mortgage |
| Home Equity Loans / Lines of Credit | Home improvements, debt consolidation, other credit needs | Mortgage |
| Construction Loans | Construction of a new home | Mortgage |
| Personal Credit Lines | Periodic credit needs or overdraft protection | Consumer |
| Commercial Loans | Business operations, equipment, commercial real estate | Commercial |
VISA Credit Card Options
Additional Services
Community Development Activities & Investments
The following reflects B2 Bank's community development activities, donations, and charitable investments that support low- and moderate-income individuals and community organizations within and near the bank's Assessment Area.
Habitat for Humanity — Annual Donation
Donation supporting construction of safe, decent, and affordable homes for families in Iron Range communities. Donation confirmed January 6, 2024 (check #65988).
Habitat for Humanity — Fundraising Dinner Sponsorship
Community Builder Level sponsorship of "Building the Future with Habitat" fundraising dinner at the Mountain Iron Community Center (March 23, 2023). Event raised over $31,000 for 2023 building season.
Marine Corps Reserve — Toys for Tots
Recipient of Commander's Award for Outstanding Support of the 2019 Toys for Tots Program. Program served 5,320 children ages 0–18 in Itasca, St. Louis Counties, and City of Superior (WI). Total items distributed: 17,490.
American Breast Cancer Foundation
Memorial donation in honor of Barbara Pavelich supporting the Foundation's mission of providing financial assistance for uninsured and underserved individuals for breast cancer screening and treatment.
MI-B Football Program Support
Equipment and resource support for the 2019 JV and Varsity Football Program, supporting student-athletes from Kindergarten through 12th grade in the Mountain Iron-Buhl community.
FHFA Community Support Statement
Mt. Iron, MN 55768
Year of most recent rating: 2025
CRA Assessment Area
Assessment Area — Duluth-Grand Rapids CSA
The AA covers the Quad Cities of Mountain Iron, Virginia, Eveleth, and Gilbert, and includes a region often referred to as the Iron Range. St. Louis County is part of the Duluth, MN-WI MSA; Itasca County is in a non-MSA area. Both counties are included in the Duluth-Grand Rapids CSA and combinable as a single AA for CRA evaluation purposes.
AA Demographic Summary — Duluth-Grand Rapids CSA (2024)
| Demographic Characteristic | Total # | Low % | Moderate % | Middle % | Upper % |
|---|---|---|---|---|---|
| Geographies (Census Tracts) | 28 | 3.57% | 28.57% | 64.29% | 3.57% |
| Population by Geography | 72,620 | 3.31% | 28.16% | 65.05% | 3.48% |
| Housing Units by Geography | 45,838 | 3.23% | 27.97% | 65.77% | 3.04% |
| Owner-Occupied Housing by Geography | 25,986 | 1.47% | 25.83% | 69.68% | 3.02% |
| Occupied Rental Units by Geography | 7,415 | 11.11% | 40.46% | 43.65% | 4.77% |
| Businesses by Geography | 2,497 | 6.05% | 23.35% | 62.76% | 7.85% |
| Family Distribution by Income Level | 19,438 | 22.39% | 20.35% | 23.29% | 33.97% |
| Household Distribution by Income Level | 33,401 | 28.04% | 16.25% | 18.72% | 37.00% |
| Unemployment Rate (%) | 5.34% | 16.32% | 6.10% | 4.72% | 1.64% |
| Households Below Poverty Level (%) | 14.00% | 39.60% | 20.00% | 10.09% | 9.04% |
Source: FFIEC File — 2024 Census; 2024 Dun & Bradstreet SBSF Demographics. Due to rounding totals may not equal 100.0%.
Census Tracts in Assessment Area (Appendix A)
St. Louis County — 25 Census Tracts:
113.00, 114.01, 114.02, 121.00, 122.00, 123.00, 124.00, 125.00, 126.00, 127.00, 128.00, 130.00, 131.00, 132.00, 133.00, 134.00, 135.00, 136.00, 138.00, 139.00, 140.00, 151.00, 152.00, 154.02, 155.01
Itasca County — 3 Census Tracts:
4804.01, 4805.00, 4810.02
Public Comments & Community Testimonials
The following are written comments and testimonials received from community members and organizations regarding B2 Bank's service and community engagement. These are included in the public file pursuant to 12 CFR 25.43(a)(3).
Customer Thank You — Beverly Bezal
"I want to thank the staff who helped me with my car problems on March 25th — you came out to see what the problem was, called CarQuest who got me started... Thank you so much for your kindness and concern! God bless you all!"
Habitat for Humanity — Thank You
Acknowledgment of B2 Bank's $100 donation on 1/6/2024: "Your thoughtful support of our mission will help us continue building simple, decent, and affordable homes. People like you have brought hope to 15 Iron Range communities."
American Breast Cancer Foundation
Official acknowledgment of $75.00 memorial donation (Nov 2019): "Your donation is crucial to help us succeed in the fight against breast cancer." A bank staff member's personal note: "Thank you everyone in my FNBob family for being so kind and patient as mom slowly passed away. You are all my heroes!"
MI-B Football Program
"You made a difference in our student-athletes' and Coaches' experience this season. Because of your generosity, our teams — from Kindergarten through 12th grade — have the equipment and resources they need to compete to the best of their abilities."
Submit a Comment
Members of the public are encouraged to submit written comments regarding B2 Bank's performance in meeting the credit needs of its community. Comments may be directed to B2 Bank or to the OCC, and will be considered in future CRA evaluations.
B2 Bank National Association
Attn: Ryan Jaskiewicz, CEO
8355 Unity Drive, PO Box 382
Mountain Iron, MN 55768
ryan@b2.bank
Phone: 218-749-3190
Office of the Comptroller of the Currency
Deputy Comptroller Central District Office
425 S. Financial Place, Suite 1700
Chicago, IL 60605
www.occ.treas.gov
Contact B2 Bank
Mountain Iron, MN 55768
ryan@b2.bank
ccucci@b2.bank
This CRA Public File is available for inspection during regular business hours at any B2 Bank branch location. Copies of portions of the file may be requested. Questions regarding the CRA Public File may be directed to the bank president at the address above or via the OCC's website at www.occ.treas.gov.