Actions under delegated authority

Actions taken during the week ending July 4, 2020

Advisory Councils

Director, S&R

Insurance Policy Advisory Committee -- notice that the Board is accepting applications from individuals who wish to be considered for membership on the committee.
-Approved, June 29, 2020

Bank Holding Companies

Chicago

Bath State Bancorp Employee Stock Ownership Plan with 401(k) Provisions (ESOP), Bath, Indiana -- to become a bank holding company by acquiring shares of Bath State Bancorp, Bath, and thereby acquiring control of Bath State Bank; and for ESOP to engage in extending credit and servicing loans.
-Approved, July 2, 2020

Chicago

GNB Bancorporation, Grundy Center, Iowa -- to take assignment of a loan to GNB Bancorporation ESOP and thereby engage in making and servicing loans.
-Approved, July 3, 2020

Atlanta

IFB Bancorp, Inc., Miami, Florida -- to become a bank holding company by acquiring International Finance Bank, Miami.
-Approved, June 29, 2020

Banks, State Member

Cleveland

The Cortland Savings and Banking Company, Cortland, Ohio -- to retain certain public welfare investments.
-Approved, June 18, 2020
(A/C)

St. Louis

First Savings Bank, Jeffersonville, Indiana -- to make a public welfare investment.
-Withdrawn, July 2, 2020

Change in Bank Control

Philadelphia

Avidbank Holdings, Inc., San Jose, California -- change in bank control of Avidbank Holdings, Inc., and its subsidiary, Avidbank, San Jose.
-Permitted, July 1, 2020

Minneapolis

Citizens Bank Holding Company, Finley, North Dakota -- to retain control of Citizens Bank Holding Company and its subsidiary, Citizens State Bank of Finley, Finley.
-Permitted, July 3, 2020

St. Louis

Commercial Holding Company, Paris, Tennessee -- to retain control of Commercial Holding Company and its subsidiary, Commercial Bank & Trust Company, Paris.
-Permitted, June 29, 2020

Secretary

Westbrand, Inc., Minot, North Dakota -- to retain control of Westbrand, Inc., and its subsidiaries, First Western Bank and Trust, Minot; and BlackRidgeBank, Fargo.
-Permitted, July 1, 2020

Extensions of Time

Kansas City

Bern Bancshares, Inc., Bern, Kansas -- extension to October 3, 2020, to acquire voting shares of UBT Bancshares, Inc., Marysville, and thereby indirectly acquire United Bank & Trust.
-Granted, July 2, 2020

Secretary

Qualified Financial Contracts (QFCs) -- temporary extensions of time for the following banking organizations to comply with certain requirements of the Board's QFC stay rule: Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc.; JPMorgan Chase & Co.; Morgan Stanley; Wells Fargo & Company; The Bank of New York Mellon Corporation; and State Street Corporation.
-Granted, June 29, 2020