Board Actions

Commercial Bancgroup, Inc., Harrogate, Tennessee; Robertson Holding Company, L.P. (Robertson); and Unified Shares, LLC (Unified) -- (1) for Commercial Bancgroup, Inc., to merge with Citizens Bancorp, Inc., New Tazewell, and thereby acquire Citizens Bank; (2) for Commercial Bank, Harrogate, to merge with Citizens Bank and thereby establish branches; and (3) election by Robertson and Unified to become financial holding companies.
-Approved, December 15, 2017

NATCOM Bancshares, Inc., Superior, Wisconsin -- to acquire shares of Republic Bancshares, Inc., Duluth, Minnesota, and thereby indirectly acquire Republic Bank, Inc.
-Approved, December 15, 2017

Board Budgets -- operating and capital budgets for 2018.
-Approved, December 6, 2017
(A/C)

Forms -- final Board review to extend without revision the Reporting, Recordkeeping, and Disclosure Requirements Associated with Proprietary Trading and Certain Interests in and Relationships with Covered Funds (Regulation VV).
-Approved, December 15, 2017

Forms -- to discontinue the Liquidity Monitoring Report (FR 2052b).
-Approved, December 15, 2017

Federal Open Market Committee -- increase in the target range for the federal funds rate to 1-1/4 percent to 1-1/2 percent, effective December 14, 2016.
-Announced, December 13, 2017

Interest on Reserves; Discount and Advance Rates -- increase in the (1) interest rate paid on required and excess reserve balances from 1-1/4 percent to 1-1/2 percent and (2) primary credit rate from 1-3/4 percent to 2 percent, both effective December 14, 2017.
-Approved, December 13, 2017

Division of Consumer and Community Affairs -- appointment of Minh-Duc (Ducie) T. Le as assistant director and creation of two additional officer positions.
-Approved, December 13, 2017

Regulations C (Home Mortgage Disclosure) and M (Consumer Leasing) -- final rule to repeal Regulation C, which has been superseded by final rules issued by the Consumer Financial Protection Bureau, and publication for comment of amendments to Regulation M to reflect changes in the coverage of the Board's rule under the Dodd-Frank Act.
-Approved, December 13, 2017

Orders of Prohibition -- issuance of consent orders of prohibition against (1) Lowell W. McCoy, a former director and institution-affiliated party of NBRS Financial, Rising Sun, Maryland; (2) Angela Asbell, a former employee and institution-affiliated party of First State Bank in Commerce, Commerce, Oklahoma; and (2) Jacob Harrison, a former employee and institution-affiliated party of Regions Bank, Birmingham, Alabama.
-Announced, December 15, 2017