Public Information Documents

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

Bank Branches, Domestic
1st Source Bank, South Bend, Indiana -- to establish a branch at 10570 North Michigan Road, [Carmel, Indiana.]
- Approved, February 23, 2025
First Farmers Bank & Trust, Converse, Indiana -- to establish a branch at 175 South Rangeline Road, Carmel, Indiana.
- Approved, February 21, 2025
Bank Holding Companies
Bosshard Financial Group, Inc., La Crosse, Wisconsin -- to merge with Bosshard Banco, Ltd., La Crosse, Wisconsin, and thereby indirectly acquire Intercity State Bank, Schofield, Wisconsin, and The First National Bank of Bangor, Bangor, Wisconsin.
- Approved, March 17, 2025
Billfloat, Inc., dba SmartBiz Loans, San Francisco, California -- to become a bank holding company by acquiring United Community Bancshares, Inc., and thereby indirectly acquiring Centrust Bank, N.A., both of Northbrook, Illinois.
- Approved, February 25, 2025
Marathon MHC, Wausau, Wisconsin -- for Marathon MHC, a mutual savings and loan holding company that indirectly controls Marathon Bank, Wausau, Wisconsin, to convert to stock form. As part of the conversion, Marathon MHC will merge with and into Marathon Bancorp, Inc., Wausau, Wisconsin, an existing mid-tier stock savings and loan holding company, with Marathon Bancorp, Inc., as the surviving entity.
- Approved, February 10, 2025
Backlund Investment Co. Employee Stock Ownership Plan, Peoria Heights, Illinois -- (1) to become a bank holding company by acquiring Backlund Investment Co., Peoria Heights, Illinois, and thereby indirectly acquire Better Banks, Peoria, Illinois, and State Street Bank and Trust Company, Quincy, Illinois, and (2) election to become a financial holding company.
- Approved, January 24, 2025
Foresight Financial Group, Inc., Winnebago, Illinois -- waiver of application in connection with the merger of its subsidiary banks.
- Granted, January 22, 2025
Bank Mergers
One Community Bank, Oregon, Wisconsin -- to merge with Intercity State Bank, Schofield, Wisconsin, and establish branches at 962 Grand Avenue, Schofield, Wisconsin; 2900 Schofield Avenue, Weston, Wisconsin; and 3600 Stewart Avenue, Wausau, Wisconsin.
- Approved, March 13, 2025
Change In Bank Control
United Iowa Bancshares Inc., Newton, Iowa -- Robert M. Kahn and Kristin Kahn, both of Newton, Iowa, Michael S. Albright and Mollie Albright, both of Sioux City, Iowa, and Megan Kahn, Basalt, Colorado, to join the Kahn Family Control Group, a group acting in concert, to retain voting shares of United Iowa Bancshares Inc., and thereby retain voting shares of FNNB Bank.
- Permitted, February 14, 2025
Community Financial Corporation, Edgewood, Iowa -- Steven A. Brady, Edgewood, Iowa, individually to become the largest shareholder; Madonna J. Brady, Edgewood, Iowa; Benjamin A. Brady, Laurel, Maryland; Lucas S. Brady, Edgewood, Iowa; and Jonathan J. Brady, Shawnee, Kansas City, to form the Brady Family Control Group, a group acting in concert, to acquire voting shares of Community Financial Corporation and thereby indirectly acquire voting shares of Community Savings Bank, Edgewood, Iowa.
- Permitted, February 11, 2025
Backlund Investment Co., Peoria Heights, Illinois -- the Consolidated Amendment and Restatement of the Backlund Better Bank Revocable Living Trust and the B.F. Backlund Revocable Trust, the Backlund Family Trust, the Steve E. Backlund Restated Revocable Trust Agreement, Steve E. Backlund, as trustee, all of Peoria Heights, Illinois; the Backlund Investment Co. Employee Stock Ownership Plan and Trust, Steve E. Backlund, Tera R. Backlund, James P. Ghiglieri, III, Melissa L. May, Robert D. Mowrer, Jr., Timothy H. Peterson, and H. Scott Smith, as co-trustees, all of Peoria Heights, Illinois; Robert D. Mowrer, Jr., Aledo, Texas; Michael E. Peterson and Helene M. Peterson, both of Peoria, Illinois; and Timothy H. Peterson, Dunlap, Illinois; as a group acting in concert, to retain voting shares of Backlund Investment Co. and thereby indirectly retain voting shares of Better Banks, Peoria, Illinois, and State Street Bank and Trust Company, Quincy, Illinois.
- Permitted, January 24, 2025
Oak Financial, Inc., Fitchburg, Wisconsin -- the Gabrielse Joint Revocable Trust, Bruce J. Gabrielse and Barbara L. Gabrielse, as co-trustees, all of Fitchburg, Wisconsin; the Jack and Denise Gabrielse Revocable Trust, Jack L. Gabrielse and Denise L. Gabrielse, as co-trustees, all of Oregon, Wisconsin; and the Gabrielse Joint Revocable Trust, Brian J. Gabrielse and Jennifer K. Gabrielse, as co-trustees, all of Madison, Wisconsin; to join the Gabrielse Family Control Group, a group acting in concert, to retain voting shares of Oak Financial, Inc., and thereby indirectly retain voting shares of Oak Bank, Fitchburg, Wisconsin.
- Permitted, January 15, 2025
Banks, State Member
Ally Bank, Sandy, Utah -- to make a public welfare investment.
- Approved, February 27, 2025
Independent Bank, Grand Rapids, Michigan -- to make a public welfare investment.
- Approved, January 16, 2025
Busey Bank, Champaign, Illinois -- to make a public welfare investment.
- Approved, January 3, 2025
Financial Holding Companies
Illinois Valley Bancorp, Inc., Morris, Illinois -- election to become a financial holding company.
- Effective, February 6, 2025
Savings and Loan Holding Companies
Eaton Federal Mutual Holding Company and Eaton Federal Stock Holding Company, both of Charlotte, Michigan -- proposed bylaw amendment.
- Approved, February 12, 2025
Mutual Federal Bancorp, MHC and Mutual Federal Bancorp, Inc., both of Chicago, Illinois -- to acquire Pulaski Savings Bank, Chicago, Illinois.
- Withdrawn, January 10, 2025

Last Update: March 27, 2025