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 May 4, 2024
Bank Branches, Domestic
Dallas
Texas Regional Bank, Harlingen, Texas -- to establish a branch at 601 Main Street, Kerrville, Texas.
Approved: April 29, 2024
St. Louis
Southern Bank, Poplar Bluff, Missouri -- to establish a branch at 5228 South Lindbergh Boulevard, St. Louis, Missouri.
Returned: May 1, 2024
Bank Holding Companies
Atlanta
CCB Bancorp, Inc., Athens, Georgia -- to become a bank holding company by acquiring outstanding shares of Classic City Bank, Athens, Georgia.
Withdrawn: May 2, 2024
St. Louis
LBT Bancshares, Inc., Litchfield, Illinois -- waiver of application to merge with Security Bancshares, Inc., and thereby indirectly acquire Security National Bank, both of Witt, Illinois, in connection with the merger of Security National Bank with and into Bank & Trust Company, Litchfield, Illinois.
Granted: April 29, 2024
Bank Mergers
St. Louis
Bank of Salem, Salem, Arkansas -- to merge with Security Bank, Stephens, Arkansas, and to retain the acquired facility as a branch.
Approved: May 3, 2024
Bank Premises
St. Louis
Connect Bank, Star City, Arkansas -- to increase its investment in bank premises.
Approved: May 3, 2024
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make two public welfare investments.
Approved: May 1, 2024
New York
Goldman Sachs Bank USA, New York, New York -- to make a public welfare investment.
Approved: April 30, 2024
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to make a public welfare investment.
Approved: May 1, 2024
Change in Bank Control
Chicago
Charlevoix First Corporation, Charlevoix, Michigan -- Dana Hodgson, Beaver Island, Michigan, and Lucas Michna, Ann Arbor, Michigan, to join the Hodgson Family Control Group, a group acting in concert, to retain voting shares of Charlevoix First Corporation and thereby indirectly retain voting shares of Charlevoix State Bank, Charlevoix, Michigan.
Permitted: May 1, 2024
Dallas
Hill Country Bancshares, Inc., Llano, Texas -- Heath J. Buttery, McLean, Virginia; the Brenda Ann Buttery Durst GST Exempt Trust; Brenda Ann Buttery Durst, individually, and as trustee; the Jean Buttery Wallace GST Exempt Trust No. 2, Jean Buttery Wallace, as trustee; the John David Buttery GST Exempt Trust, John D. Buttery, individually, and as trustee; and the William Henry Buttery GST Exempt Trust, William H. Buttery, individually, and as trustee, all of Llano, Texas; as members of the Buttery Family Group, a group acting in concert, to retain voting shares and thereby control of Hill Country Bancshares, Inc., and indirectly retain voting shares of Llano National Bank, Llano, Texas.
Permitted: April 29, 2024
Kansas City
Citizens National Corporation, Wisner, Nebraska -- the Kathleen Albers Irrevocable Grantor Trust dated November 20, 2012, and the Kathleen Albers Citizens National Corporation Trust "S," Jeffry Albers, individually and as co-trustee; and Matthew Albers and Holly Schroeder, as co-trustees; all of Wisner, Nebraska; to join the Albers Family Group, a group acting in concert, to retain voting shares of Citizens National Corporation and thereby indirectly retain voting shares of Citizens State Bank, Wisner, Nebraska.
Permitted: April 29, 2024
Citizens National Corporation, Wisner, Nebraska -- Amy Skovsende, Omaha, Nebraska; Kayla Roth Kuxhausen, West Point, Nebraska; Traci Ebel, Wisner, Nebraska; and Tyler Roth, Bucyrus, Kansas; to become members of the Roth family control group, a group acting in concert, to retain voting shares of Citizens National Corporation and thereby indirectly retain voting shares of Citizens State Bank, Wisner, Nebraska.
Permitted: April 29, 2024
Farmers State Bancshares, Inc., Dodge, Nebraska -- Ashlie D. Hadden, Kearney, Nebraska, to join the Stull Family Control Group, a group acting in concert, to acquire voting shares of Farmers State Bancshares, Inc., and thereby indirectly acquire voting shares of Nebraska Bank, Dodge, Nebraska.
Permitted: May 1, 2024
Minneapolis
Stearns Financial Services, Inc., St. Cloud, Minnesota -- the Estate of Norman C. Skalicky, Maple Grove, Minnesota; the Norman C. Skalicky Revocable Trust u/a/d July 10, 2002, Las Vegas, Nevada; Kelly A. Skalicky, Las Vegas, Nevada, as personal representative of the Estate of Noman C. Skalicky and trustee of the Norman C. Skalicky Revocable Trust u/a/d July 10, 2002; to join a group acting in concert, to retain voting shares of Stearns Financial Services, Inc., St. Cloud, Minnesota, and thereby indirectly retain voting shares of Stearns Bank National Association, St. Cloud, Minnesota; Stearns Bank of Upsala, National Association, Upsala, Minnesota; and Stearns Bank of Holdingford, National Association, Holdingford, Minnesota.
Permitted: April 29, 2024
St. Louis
First Union Financial Corporation, Monticello, Arkansas -- Zach John Scott McClendon; the Zach John Scott McClendon Irrevocable Trust, Zach John Scott McClendon as trustee; Robin Ann McClendon; the Robin Ann McClendon Irrevocable Trust, Robin Ann McClendon as trustee; and the Zach McClendon, Jr. Trust, Zach McClendon, Jr. as trustee, all of Monticello, Arkansas; to establish a family control group and to retain voting shares of First Union Financial Corporation, and thereby indirectly retain voting shares of Union Bank & Trust Company, Monticello, Arkansas.
Permitted: May 2, 2024
Extensions of Time
Atlanta
Synovus Bank, Columbus, Georgia -- extension to May 31, 2024, to establish branches at 6801 Flat Rock Road, Columbus, Georgia; 304 20th Street South, Birmingham, Alabama; and 205 20th Street North, Birmingham, Alabama.
Granted: May 2, 2024
Supervision and Regulation
Director, S&R
Ally Financial Inc., Detroit, Michigan, and Ally Bank, Sandy, Utah -- request to treat a credit-linked-note transaction and certain substantially identical credit-linked-note transactions as synthetic securitizations under Regulation Q.
Approved: May 2, 2024
Truist Financial Corporation, Charlotte, North Carolina -- to make certain capital distributions under the capital plan rule.
Approved: May 2, 2024