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 December 2, 2023
Bank Branches, Domestic
St. Louis
Fidelity Bank, West Memphis, Arkansas -- to establish a branch at 1015 Highway 64, Wynne, Arkansas.
Approved: November 30, 2023
Bank Holding Companies
Cleveland
Main Street Capital Company, Germantown, Ohio -- to become a bank holding company by acquiring The First National Bank of Germantown, Germantown, Ohio.
Approved: November 30, 2023
Minneapolis
Glacier Bancorp, Inc., Kalispell, Montana -- to merge with Community Financial Group, Inc., and thereby indirectly acquire Wheatland Bank, both of Spokane, Washington.
Approved: December 1, 2023
St. Louis
RiverWind Bancshares, Inc., Augusta, Arkansas -- to become a bank holding company by acquiring RiverWind Bank, Augusta, Arkansas.
Approved: November 29, 2023
Tom Bean Bank Holding Company, Hope, Arkansas -- to become a bank holding company by acquiring The First National Bank of Tom Bean, Tom Bean, Texas.
Returned: November 29, 2023
Bank Mergers
Chicago
Bank of Pontiac, Pontiac, Illinois -- to purchase certain assets and assume certain liabilities of Farmers-Merchants Bank of Illinois, Joy, Illinois, and thereby establish branches at 101 North Taft Street, Paxton, Illinois; 100 East Main Street, Melvin, Illinois; and 116 South Pine Street, Piper City, Illinois.
Approved: December 1, 2023
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make three public welfare investments.
Approved: November 28, 2023
Change in Bank Control
Chicago
First Lacon Corp, Lacon, Illinois -- Alyssa T. Kanive, Orono, Minnesota, John N. Kanive, Minnetonka, Minnesota, and Ryan J. Kanive, Orono, Minnesota; to join the Nelson Family Control Group, a group acting in concert, to retain voting shares of First Lacon Corp. and thereby indirectly retain voting shares of The First National Bank of Lacon, Lacon, Illinois.
Permitted: November 29, 2023
Kansas City
Midland Financial Co., Oklahoma City, Oklahoma -- Anat Bird, Scottsdale, Arizona; to become co-trustee 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, 2012 Dorchester Trust, and G. Jeffrey Records, Jr. 2020 Family Trust and thereby indirectly acquire control of voting shares of Midland Financial Co., and Midfirst Bank, Oklahoma City, Oklahoma.
Permitted: November 27, 2023
Regulations and Policies
Director, S&R
Reports to Congress -- interagency report on differences in accounting and capital standards among the federal banking agencies as of September 30, 2023. *
Approved: November 6, 2023
*Addition
Savings and Loan Holding Companies
Philadelphia
Vecta Partners LLC, White Plains, New York, and Vecta Inc., New York, New York -- to engage de novo in real estate acquisition and management through Vecta Realty LLC, Montvale, New Jersey, a new wholly owned subsidiary of Vecta Inc.
Withdrawn: December 1, 2023