Board Actions

Actions taken during the week ending December 18, 2021

Bank Holding Companies

First Citizens Bancshares, Inc., Raleigh, North Carolina -- to acquire CIT Group, Inc., New York, New York.
-Approved, December 17, 2021

Webster Financial Corporation, Waterbury, Connecticut -- to acquire Sterling Bancorp and thereby indirectly acquire Sterling National Bank, both of Pearl River, New York.
-Approved, December 17, 2021

Personnel

Division of Reserve Bank Operations and Payment Systems -- appointment of Ian Spear as assistant director with responsibility for the Retail Payments and FedNow Oversight Coordination and Strategy programs.
-Approved, December 13, 2021

Regulations and Policies

Credit Risk Retention -- notice of determination of results of the interagency review of the definition of "qualified residential mortgage" and the associated exemptions for community-focused residential mortgages and qualifying three- to four-unit residential mortgages.
-Approved, December 12, 2021

Savings and Loan Holding Companies

WSFS Financial Corporation (WSFS), Wilmington, Delaware -- to acquire Bryn Mawr Bank Corporation (Bryan Mawr) and thereby indirectly acquire The Bryn Mawr Trust Company (Bryn Mawr Bank), both of Bryn Mawr, Pennsylvania, following the conversions of Bryn Mawr Bank to a federal savings association and Bryn Mawr to a savings and loan holding company.
-Approved, December 17, 2021

Supervision and Regulation

Supervisory Practices -- interagency statement on supervisory practices regarding financial institutions affected by tornadoes.
-Announced, December 15, 2021

Enforcement

Home Bancgroup Inc., Hallandale Beach, Florida -- cease-and-desist order issued by the Office of Thrift Supervision dated July 30, 2010, terminated December 8, 2021.
-Announced, December 16, 2021