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 April 13, 2024
Bank Holding Companies
Director, S&R
Truist Financial Corporation, Charlotte, North Carolina -- relief from certain commitments.*
Granted: April 4, 2024
*Addition
Kansas City
Vista Holding Company, St. Louis, Missouri -- to become a bank holding company by acquiring Mohler Bancshares, Inc., and thereby indirectly acquiring First National Bank of Harveyville, both of Harveyville, Kansas.
Approved: April 12, 2024
Bank Premises
St. Louis
Citizens Bank & Trust Company, Van Buren, Arkansas -- to increase its investment in bank premises.
Approved: April 11, 2024
Banks, State Member
New York
Goldman Sachs Bank USA, New York, New York -- to make a public welfare investment (two requests).*
Approved: April 4, 2024
*Addition
San Francisco
East West Bank, Pasadena, California -- to make a public welfare investment.
Approved: April 12, 2024
Change in Bank Control
Minneapolis
Fishback Financial Corporation, Brookings, South Dakota -- the Fishback-Mitchell FFC Living Trust established August 16, 2023, Amanda T. Mitchell and John T. Fishback, as co-trustees, all of San Francisco, California, to become members of the Fishback Family Shareholder Group, a group acting in concert, to retain voting shares of Fishback Financial Corporation and thereby indirectly retain voting shares of First Bank & Trust, Brookings, South Dakota.
Permitted: April 9, 2024
Flagship Financial Group, Inc., Eden Prairie, Minnesota -- Timothy J. Hoese, individually, and as beneficiary with voting rights to the Clayton W. Hoese Irrevocable Trust Under Agreement dated June 18, 1981, as modified September 12, 2023, all of Glencoe, Minnesota; to become a member of the Hoese/Schornack Family Shareholder Group, a group acting in concert, to retain voting shares of Flagship Financial Group, Inc., and thereby indirectly retain voting shares of Flagship Bank Minnesota, Wayzata, Minnesota, and Security Bank & Trust Company, Glencoe, Minnesota.
Permitted: April 9, 2024
Extensions of Time
Director, S&R
Morgan Stanley, New York, New York -- extensions of time to conform or divest two merchant banking investments.
Granted: April 9, 2024
Membership
Atlanta
Gulf Atlantic Bank, Key West, Florida -- to become a member of the Federal Reserve System.
Approved: April 8, 2024
Regulations and Policies
General Counsel
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: April 8, 2024
Lending and Liquidity Facilities -- reports to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: April 8, 2024
Supervision and Regulation
Director, S&R
Discover Financial Services, Riverwoods, Illinois -- to make certain capital distributions under the capital plan rule.
Approved: April 12, 2024