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 20, 2024
Bank Branches, Domestic
Chicago
Northstar Bank, Bad Axe, Michigan -- to establish a branch at 3040 Lohr Road, Ann Arbor, Michigan.
Approved: April 15, 2024
Bank Holding Companies
Chicago
Bancorp of New Glarus, Inc., New Glarus, Wisconsin -- to acquire First National Bank at Darlington, Darlington, Wisconsin, through the merger of Bancorp of New Glarus, Inc., Darlington Interim Bank, New Glarus, Wisconsin, with and into First National Bank at Darlington.
Approved: April 15, 2024
Richmond
Burke & Herbert Financial Services Corp., Alexandria, Virginia -- waiver of application to acquire Summit Financial Group, Inc., Moorefield, West Virginia, in connection with the merger of Summit Community Bank, Inc., Moorefield, West Virginia, with and into Burke & Herbert Bank & Trust Company, Alexandria, Virginia.
Granted: April 16, 2024
San Francisco
Cache Valley Banking Company, Logan, Utah -- to acquire Liberty Bank, Inc., Salt Lake City, Utah.
Approved: April 18, 2024
Banks, State Member
Atlanta
Regions Bank, Birmingham, Alabama -- to make seven public welfare investments.*
Approved: April 9, 2024
*Addition
Synovus Bank, Columbus, Georgia -- to make three public welfare investments.
Approved: April 17, 2024
Change in Bank Control
Dallas
Texas Peoples National Bancshares, Inc., Paris, Texas -- Deborah Ann Abbott, Sumner, Texas, and William Chance Abbott, Paris, Texas, each individually and together as a group acting in concert, to retain voting shares of Texas Peoples National Bancshares, Inc., and thereby indirectly retain voting shares of Peoples Bank, Paris, Texas.
Permitted: April 19, 2024
Secretary
TNB Bancshares, Inc., Mercedes, Texas -- Kellye Ortega, individually, and as part of a group acting in concert with Myrhanda Ortega, both of Edinburg, Texas, to acquire voting shares of TNB Bancshares, Inc., and thereby indirectly acquire voting shares of Texas National Bank, Mercedes, Texas.*
Permitted: April 11, 2024
*Addition
Membership
Dallas
First Financial Bank, National Association, Abilene, Texas -- to become a member of the Federal Reserve System (to be known as First Financial Bank).
Approved: April 16, 2024
Regulations and Policies
Director, RBOPS
Regulation HH (Designated Financial Market Utilities) -- incident notification procedures for designated financial market utilities.
Approved: April 19, 2024