Actions taken by the Federal Reserve Bank of Philadelphia under delegated authority

Bank Branches, Domestic
First Citizens Community Bank, Mansfield, Pennsylvania -- to establish a branch at 20169 Office Circle, Georgetown, Delaware.
- Withdrawn, June 25, 2024
Asian Bank, Philadelphia, Pennsylvania -- to establish a branch at 934 East Passyunk Avenue, Philadelphia, Pennsylvania.
- Approved, January 19, 2024
Bank Holding Companies
ACNB Corporation and ACNB South Acquisition Subsidiary, both of Gettysburg, Pennsylvania -- waiver of application to acquire Traditions Bancorp and thereby indirectly acquire Traditions Bank, both of York, Pennsylvania, in connection with the merger of Traditions Bank with and into ACNB Bank, Gettysburg, Pennsylvania.
- Granted, November 7, 2024
Gelt Bancorp, Inc., Lancaster, Pennsylvania -- to become a bank holding company in connection with the reorganization of Bank of Bird-in-Hand, Bird-in-Hand, Pennsylvania.
- Approved, August 1, 2024
Orrstown Financial Services, Inc., Shippensburg, Pennsylvania -- waiver of application to merge with Codorus Valley Bancorp, Inc., York, Pennsylvania, and thereby indirectly acquire its subsidiary, PeoplesBank, York, Pennsylvania, in connection with the merger of PeoplesBank with and into Orrstown Bank, Shippensburg, Pennsylvania.
- Granted, June 14, 2024
Peoples Financial Services Corporation, Scranton, Pennsylvania -- waiver of application to merge with FNCB Bancorp, Inc., and thereby indirectly acquire its subsidiary, FNCB Bank, both of Dunmore, Pennsylvania, in connection with the merger of FNCB Bank with and into Peoples Security Bank and Trust Company, Scranton, Pennsylvania.
- Granted, June 13, 2024
Princeton Bancorp Inc, Princeton, New Jersey -- to acquire Cornerstone Financial Corporation, Mount Laurel, New Jersey, and thereby indirectly acquire Cornerstone Bank, Moorestown, New Jersey.
- Approved, April 22, 2024
Bank Mergers
Orrstown Bank, Shippensburg, Pennsylvania -- to merge with Peoples Bank, York, Pennsylvania, with Orrstown Bank as the surviving entity.
- Approved, June 14, 2024
Change In Bank Control
Freedom Financial Holdings, Inc., Fairfax, Virginia -- Kenneth R. Lehman, Fort Lauderdale, Florida, to retain voting shares of Freedom Financial Holdings, Inc., and thereby indirectly retain voting shares of [The Freedom Bank] of Virginia, Fairfax, Virginia.
- Permitted, August 12, 2024
Blue Ridge Bankshares, Inc., Richmond, Virginia -- Castle Creek Capital Partners VIII, LP; Castle Creek Capital VIII LLC; Castle Creek Advisors VIII LLC; Castle Creek Special Situations II, LP; Castle Creek Special Situations II GP, LLC; Castle Creek Advisors IV LLC; JME Advisory Corp.; Scavuzzo Advisory Corp.; Volk Advisory Corp.; and Rana Advisory Corp., all of San Diego, California; John Eggemeyer, Rancho Santa Fe, California; Anthony Scavuzzo, Dallas, Texas; David Volk, San Diego, California; and Sundeep Rana, Dallas, Texas; a group acting in concert, to acquire additional voting shares of Blue Ridge Bankshares, Inc., and thereby indirectly acquire voting shares of Blue Ridge Bank, National Association, Martinsville, Virginia.
- Permitted, July 11, 2024
Blue Ridge Bankshares, Inc., Charlottesville, Virginia -- Kenneth R. Lehman, Fort Lauderdale, Florida; to acquire voting shares of Blue Ridge Bankshares, Inc., and thereby indirectly acquire voting shares of Blue Ridge Bank, National Association, Martinsville, Virginia.
- Permitted, March 14, 2024
Fortis Bancorp, Denver, Colorado -- Patriot Financial Partners GP III, LLC; Patriot Financial Partners GP III, L.P.; and others; as a group acting in concert to acquire voting shares of Fortis Bancorp and thereby indirectly acquire voting shares of Fortis Bank, Denver, Colorado.
- Permitted, January 19, 2024

Last Update: November 29, 2024