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 September 14, 2024
Bank Branches, Domestic
Richmond
United Community Bank, Greenville, South Carolina -- to establish a branch at 1105 Hatches Pond Lane, Cary, North Carolina.
Approved: September 13, 2024
United Community Bank, Greenville, South Carolina -- to establish a branch at 1561 Main Street, Sarasota, Florida.
Approved: September 12, 2024
San Francisco
Commonwealth Business Bank, Los Angeles, California -- to establish a branch at 1 Bridge Plaza, Fort Lee, New Jersey.
Returned: September 11, 2024
Bank Holding Companies
St. Louis
Central Bancshares, Inc., Little Rock, Arkansas -- to become a bank holding company by acquiring Central Bank, Little Rock, Arkansas.
Approved: September 12, 2024
Change in Bank Control
Chicago
Whitney Corporation of Iowa, Atlantic, Iowa -- Jason C. Nicholas Bank Trust, Jason C. Nicholas, trustee, both of Atlantic, Iowa, to acquire voting shares of Whitney Corporation of Iowa and thereby indirectly acquire voting shares of First Whitney Bank and Trust, Atlantic, Iowa.
Permitted: September 11, 2024
Richmond
Farmers and Merchants Bancshares, Inc., Hampstead, Maryland -- Barry J. Renbaum, individually, Carol E. Renbaum, individually, both of Reisterstown, Maryland; Bryan M. Renbaum, individually, Frederick, Maryland, and the Renbaums, a group acting in concert, to acquire voting shares of Farmers and Merchants Bancshares, Inc., and thereby indirectly acquire Farmers and Merchants Bank, Upperco, Maryland.
Permitted: September 12, 2024
San Francisco
Cache Valley Banking Company, Logan, Utah -- Beech Tree Partners, L.P., N. George Daines, manager, Providence, Utah; Appian Investments, LLC, Gabrielle D. Gay, manager, West Palm Beach, Florida; Linda S. Daines, individually, New York, New York; RFD51, LLC, Linda S. Daines, manager, New York, New York; WKA19, LLC, Linda S. Daines, manager, New York, New York; Armani57, LCC, Peter C. Daines, manager, Logan, Utah; and Ginger60, LLC, Holly Daines, manager, Logan, Utah, to retain voting shares of Cache Valley Banking Company and thereby indirectly retain voting shares of Cache Valley Bank, Logan, Utah, and thereby also indirectly retain voting shares of Liberty Bank, Inc., Salt Lake City, Utah.
Permitted: September 11, 2024
Extensions of Time
Secretary
Bank-Fintech Arrangements -- extension of the comment period until October 30, 2024, on the interagency request for information and comment on bank-fintech arrangements involving banking products and services distributed to consumers and businesses.
Approved: September 12, 2024
Other Actions
San Francisco
Jean Chalopin, Nassau, Bahamas -- remove certain commitments in light of the wind-down of FBH Corporation and Farmington State Bank.*
Granted: September 4, 2024
*Addition
Regulations and Policies
General Counsel
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: September 10, 2024
Lending and Liquidity Facilities -- reports to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: September 10, 2024
Supervision and Regulation
Director, S&R
Capital One Financial Corporation, McLean, Virginia -- to make certain capital distributions under the capital plan rule.
Approved: September 11, 2024