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 October 28, 2023
Bank Branches, Domestic
Richmond
First Community Bank, Bluefield, Virginia -- to establish a branch at 150 Virginia Avenue, Wytheville, Virginia.
Approved: October 23, 2023
San Francisco
Farmers & Merchants Bank of Long Beach, Long Beach, California -- to establish a branch at 401 Glenneyre Street, Laguna Beach, California.
Approved: October 26, 2023
Bank Holding Companies
Boston
1831 Bancorp, MHC, and 1831 Bancorp, Inc., both of Dedham, Massachusetts -- to acquire South Shore Bancorp, MHC, and thereby indirectly acquire South Shore Bancorp, Inc., both of South Weymouth, Massachusetts,
Approved: October 26, 2023
San Francisco
BAWAG Group AG, Vienna, Austria -- (1) to become a bank holding company by acquiring voting shares of Peak Bancorp, Inc., and thereby indirectly acquiring Idaho First Bank, both of McCall, Idaho; and (2) to retain shares of Marlette Holdings, Inc., Wilmington, Delaware, and thereby engage in extending credit and servicing loans, activities related to brokering or servicing loans or other extensions of credit, financial and investment advisory activities, and data processing activities.
Approved: October 25, 2023
Bank Premises
New York
The Adirondack Trust Company, Saratoga Springs, New York -- to increase its investment in bank premises.
Approved: October 27, 2023
Banks, Foreign
Director, S&R
BAWAG Group AG, Vienna, Austria -- requests a determination of eligibility for exemptions available to qualifying foreign banking organizations.
Approved: October 24, 2023
Mizuho Financial Group, Inc., and Mizuho Bank, Ltd., both of Tokyo, Japan -- relief from certain commitments.
Granted: October 25, 2023
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make a public welfare investment. *
Approved: October 19, 2023
*Addition
Change in Bank Control
Dallas
La Plata Bancshares, Inc., Hereford, Texas -- Wade O. Easley, individually and as trustee of The La Plata Bancshares, Inc., Employee Stock Ownership Plan
401K Trust (the ESOP), and Holly W. Easley, all of Hereford, Texas, and more, to become the Easley Family control group, a group acting in concert to retain voting shares of La Plata Bancshares, Inc., and thereby indirectly retain voting shares of The First National Bank of Hereford, Hereford, Texas. Additionally, Wade O. Easley, individually and as trustee of the ESOP, to retain control of the voting shares of La Plata Bancshares, Inc., and thereby indirectly retain voting shares of The First National Bank of Hereford.
Permitted: October 26, 2023
Kansas City
Midland Financial Co., Oklahoma City, Oklahoma -- Kathryn R. Ryan, Cherry Hills Village, Colorado, and Martha E. Records, Denver, Colorado, to become co-trustees of the George J. and Nancy J. Records 1990 Irrevocable Trust, and thereby indirectly acquire control of voting shares of Midland Financial Co. and Midfirst Bank, Oklahoma City, Oklahoma.
Permitted: October 26, 2023
Midland Financial Co., Oklahoma City, Oklahoma -- Raymond Kido, Paradise Valley, Arizona, and Anat Bird, Scottsdale, Arizona, to become co-trustees of the G. Jeffrey Records Jr. 2003 Family Trust, G. Jeffrey Records Jr. 2004 Family Trust (KRR), G. Jeffrey Records Jr. 2004 Family Trust (MER), G. Jeffrey Records Jr. 2008 GST Exempt Family Trust, and 2012 Dorchester Trust, to indirectly acquire control of voting shares of Midland Financial Co. and thereby indirectly acquire control of voting shares of Midfirst Bank, Oklahoma City, Oklahoma.
Permitted: October 26, 2023
Midland Financial Co., Oklahoma City, Oklahoma -- Todd A. Dobson, Oklahoma City, Oklahoma, to become trustee or co-trustee of the Kathryn R. Ryan 2012 Family Trust, Kathryn R. Ryan 2020 Family Trust, and Martha E. Records 2020 Family Trust, and thereby indirectly acquire control of voting shares of Midland Financial Co. and Midfirst Bank, Oklahoma City, Oklahoma.
Permitted: October 26, 2023
St. Louis
First Paragould Bankshares, Inc., Paragould, Arkansas -- the Brewer Family Trust, James F. Gramling, individually and as special trustee of the Brewer Family Trust, the William E. Brewer Irrevocable Trust, and others, to retain the voting shares of First Paragould Bankshares, Inc., and thereby retain the voting shares of First National Bank, Paragould, Arkansas.
Permitted: October 27, 2023
Extensions of Time
St. Louis
The McGehee Bank Employee Stock Ownership Plan, McGehee, Arkansas -- extension to October 14, 2024, to acquire additional direct ownership of Southeast Financial Bankstock Corp. and thereby increase its indirect control of McGehee Bank, both of McGehee, Arkansas.
Granted: October 23, 2023