Board Actions

Actions taken during the week ending December 27, 2008

Bank Holding Companies

GMAC LLC, Detroit, Michigan, and IB Finance Holding Company, LLC -- to become bank holding companies on conversion of GMAC Bank, Midvale, Utah, from an industrial loan company to a commercial bank and to retain their nonbanking subsidiaries.
-Approved, December 24, 2008

Enforcement

Birthright Incorporated, Montgomery, Alabama -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, December 22, 2008

Cherokee Bancshares, Inc., St. Paul, Minnesota -- written agreement with the Federal Reserve Bank of Minneapolis.
-Announced, December 22, 2008

Michigan Heritage Bank, Farmington Hills, Michigan -- written agreement with the Federal Reserve Bank of Chicago and the Michigan Office of Financial and Insurance Regulation.
-Announced, December 22, 2008

Ocean Bankshares, Inc., Miami, Florida -- written agreement with the Federal Reserve Bank of Atlanta.
-Announced, December 23, 2008