Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
Actions under delegated authority PDF
Actions taken during the week ending November 5, 2022
Bank Branches, Domestic
Dallas
Frost Bank, San Antonio, Texas -- to establish a branch at 1125 FM 544, Wylie, Texas
Approved: November 4, 2022
Minneapolis
The First Bank of Baldwin, Baldwin, Wisconsin -- to establish a branch at 2868 County Highway I, Chippewa Falls, Wisconsin
Approved: November 4, 2022
St. Louis
The Bank of Fayette County, Piperton, Tennessee -- to establish a branch at 611 N. Church Avenue, Henderson, Tennessee
Approved: November 1, 2022
BankTennessee, Collierville, Tennessee -- to establish a branch at 135 College Street, Gallatin, Tennessee
Returned: October 31, 2022
Bank Holding Companies
Atlanta
Craft Bancshares, Inc., Atlanta, Georgia -- to become a bank holding company by acquiring outstanding shares of Craft Bank, Atlanta, Georgia
Approved: November 3, 2022
Seacoast Banking Corporation of Florida, Stuart, Florida -- application waiver request in connection with the merger with Professional Holding Corp. and its subsidiary, Professional Bank, both of Coral Gables, Florida
Granted: November 4, 2022
Chicago
HBT Financial, Inc., Bloomington, Illinois -- waiver request from filing a section 3 application pursuant to section 224.12(d)(2) of Regulation Y to acquire Town & Country Bank, Springfield, Illinois *
Granted: October 27, 2022
*Addition
Oxford Bank Corporation, Oxford, Michigan -- to indirectly acquire an interest in OBHELP, LLC, Oxford, Michigan, and thereby engage in the nonbanking activity of making and servicing loans, pursuant to section 225.28(b)(1) of Regulation Y *
Withdrawn: October 26, 2022
*Addition
General Counsel
New York Community Bancorp, Inc., Hicksville, New York -- waiver of filing requirements to acquire the bank resulting from the conversion of Flagstar Bank, FSB, Troy, Michigan, into a national bank and to indirectly acquire certain subsidiaries of Flagstar Bank
Granted: November 4, 2022
Kansas City
Method Bancshares, Inc., Wyandotte, Oklahoma -- to become a bank holding company by acquiring Method Bank, Wyandotte, Oklahoma
Approved: October 31, 2022
Old Glory Holding Company, Oklahoma City, Oklahoma -- to become a bank holding company by acquiring Elmore City Bancshares, Inc., and thereby indirectly acquiring First State Bank, both of Elmore City, Oklahoma (to be renamed Old Glory Bank)
Approved: November 4, 2022
Minneapolis
Highland Bancshares, Inc., Saint Michael, Minnesota -- to acquire Boundary Waters Bank, Ely, Minnesota
Approved: October 31, 2022
New York
New York Community Bancorp, Inc., Hicksville, New York -- to acquire Flagstar Bancorp, Inc., and thereby indirectly acquire Flagstar Bank, FSB, both of Troy, Michigan, pursuant to section 4(c)(8) and 4(j) of the BHC Act of 1956, as amended, and section 225.24 of Regulation Y
Approved: November 4, 2022
Bank Mergers
Chicago
Thumb Bank & Trust, Pigeon, Michigan -- to merge with Exchange State Bank, Carsonville, Michigan, and thereby establish branches at 3992 E. Chandler Street, Carsonville, Michigan; 2543 Sherman Street, Applegate, Michigan; 4482 Main Street, Brown City, Michigan; 3397 Main Street, Deckerville, Michigan;
55 South Ridge Street, Port Sanilac, Michigan; and 520 W. Sanilac Road, Sandusky, Michigan *
Approved: October 28, 2022
*Addition
Change in Bank Control
Chicago
Marengo Bancshares, Inc., Marengo, Illinois -- John C. Cunat, individually and as trustee of the John C. Cunat Revocable Trust; and Brian G. Cunat, all of McHenry, Illinois; and Rondi Cunat-Hauser and Bryan Hauser, both of Marco Island, Florida, to form the Cunat Family Control Group, a group acting in concert, to retain voting shares of Marengo Bancshares, Inc., and thereby indirectly retain voting shares of Prairie Community Bank, Marengo, Illinois
Permitted: October 31, 2022
Extensions of Time
Secretary
MVB Financial Corp., Fairmont, West Virginia -- commenter's request to extend the comment period on the application to acquire Integrated Financial Holdings, Inc., Raleigh, North Carolina, and thereby indirectly acquire West Town Bank & Trust, North Riverside, Illinois, and to indirectly acquire voting shares of West Town Payments, LLC, Raleigh, North Carolina
Denied: November 2, 2022