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 August 3, 2024
Bank Branches, Domestic
Chicago
The Friendship State Bank, Friendship, Indiana -- to establish a branch at 24571 Stateline Road, Bright, Indiana.
Approved: July 29, 2024
Secretary
The Northern Trust Company, Chicago, Illinois -- to establish a branch at Two Commerce Square, 2001 Market Street, Philadelphia, Pennsylvania.
Approved: July 29, 2024
St. Louis
First Choice Bank, Pontotoc, Mississippi -- to establish a branch at 3212 Goodman Road East, Southaven, Mississippi.
Approved: August 1, 2024
Bank Holding Companies
Atlanta
United Bank Corporation, Barnesville, Georgia -- to engage de novo in extending credit and servicing loans pursuant to section 225.28(b)(1) of the Board's Regulation Y.
Approved: August 2, 2024
St. Louis
First Breckinridge Bancshares, Inc., Irvington, Kentucky -- to acquire First Kentucky Holding Company, LLC, Louisville, Kentucky, and thereby engage in activities that may be performed by a trust company pursuant to section 225.28(b)(5) of the Board's Regulation Y.
Approved: July 30, 2024
Banks, State Member
San Francisco
East West Bank, Pasadena, California -- to make certain public welfare investments (two requests).
Approved: July 31, 2024
Change in Bank Control
Dallas
Pilgrim Bancorporation, Mount Pleasant, Texas -- Rodney Bass, as trustee of The Lonnie Ken Pilgrim 2003 GST Trust, The Lonnie Ken Pilgrim 1999 Issue Trust, The LKP 2012 GST Trust, The Greta Pilgrim Owens 2003 GST Trust, The Greta Pilgrim Owens 1999 Issue Trust, and The GPO 2012 Trust, Sulphur Springs, Texas, to join the Pilgrim/Henson/Simpson family group, a group acting in concert, to retain shares of Pilgrim Bancorporation and thereby indirectly retain shares of Pilgrim Bank, Pittsburg, Texas.
Permitted: August 1, 2024
Kansas City
Steinauer Bancorp, Steinauer, Nebraska -- Johannes Wilhelmus Antonius Zuurbier, Amsterdam, Netherlands, to acquire voting shares of Steinauer Bancorp and thereby indirectly acquire voting shares of Bank of Steinauer, Steinauer, Nebraska.
Withdrawn: August 2, 2024
Financial Holding Companies
Minneapolis
Sterling Financial Group, Inc., Rochester, Minnesota -- election to become a financial holding company.
Effective: August 1, 2024
Membership
St. Louis
Union Bank & Trust Company, Monticello, Arkansas -- to become a member of the Federal Reserve System.
Approved: July 29, 2024
Savings and Loan Holding Companies
Chicago
Midfed Acquisition Corp., Wilmington, Delaware -- to become a savings and loan holding company by acquiring Midland Capital Holdings Corporation and thereby indirectly acquiring Midland Federal Savings and Loan Association, both of Bridgeview, Illinois.
Approved: July 29, 2024