Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
Actions under delegated authority PDF
Actions taken during the week ending March 11, 2023
Bank Branches, Domestic
Atlanta
Capital City Bank, Tallahassee, Florida -- to establish a branch at 4103 Southwest 43rd Street, Gainesville, Florida, and at 6224 Sugarloaf Parkway, Duluth, Georgia.
Approved: March 10, 2023
Boston
Bank Rhode Island, Providence, Rhode Island -- to establish a branch at 181 Bellevue Avenue, Newport, Rhode Island, and at 1340 Oaklawn Avenue, Cranston, Rhode Island.
Approved: March 9, 2023
Chicago
Washington State Bank, Washington, Iowa -- to establish a branch at 703 Main Street, Pella, Iowa. *
Approved: February 23, 2023
*Addition
Kansas City
Commerce Bank, Kansas City, Missouri -- to establish a de novo branch at 4501 Tamiami Trail N, Naples, Florida.
Approved: March 8, 2023
St. Louis
Midwest BankCentre, St. Louis, Missouri -- to establish a branch at 10190 West Florissant Road, Dellwood, Missouri.
Approved: March 9, 2023
Bank Holding Companies
Chicago
Brookfield Bancshares, Inc., Brookfield, Illinois -- to become a bank holding company by acquiring shares of First National Bank of Brookfield, Brookfield, Illinois.
Approved: March 10, 2023
Change in Bank Control
Chicago
First Security Bancorp, Inc., Elmwood Park, Illinois -- the WRW FSB Trust, the EVW 1937 FSB Trust, the EVW FSB Trust, and William R. Wirtz as trustee of the aforementioned trusts, all of Chicago, Illinois; to join the William R. Wirtz Family Control Group, a group acting in concert, to retain voting shares of First Security Bancorp, Inc., and thereby indirectly retain voting shares of First Security Trust and Savings Bank, Elmwood Park, Illinois.
Permitted: March 7, 2023
Minneapolis
Metro North Bancshares, Inc., Elk River, Minnesota -- the James A. Babcock Revocable Trust, James A. Babcock and Marisela Babcock, as co-trustees, all of Elk River, Minnesota; to join the Babcock Family Shareholder Group, a group acting in concert; to acquire voting shares of Metro North Bancshares, Inc., and thereby indirectly acquire voting shares of the Bank of Elk River, Elk River, Minnesota.
Permitted: March 8, 2023
Regulations and Policies
General Counsel
Lending and Liquidity Facilities -- reports to Congress pursuant to section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: March 9, 2023
Supervision and Regulation
Director, S&R
Main Index -- request by Credit Suisse Holdings (USA), Inc., for a determination regarding certain indexes for purposes of the Board's capital rule. *
Granted: February 28, 2023
*Addition
Main Index -- request by JPMorgan Chase & Co. for a determination regarding certain indexes for purposes of the Board's capital rule. *
Granted: February 28, 2023
*Addition