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 May 13, 2023
Bank Branches, Domestic
Kansas City
Bank of Commerce, Rawlins, Wyoming -- to establish a branch at 217 North First Street, Saratoga, Wyoming.
Approved: May 11, 2023
New York
Popular Bank, New York, New York -- to establish a branch at 215 East Houston Street, New York, New York.
Approved: May 12, 2023
Bank Holding Companies
Atlanta
TIAA FSB Holdings, Inc., Jacksonville, Florida -- to become a bank holding company in connection with the proposed conversion of its subsidiary, TIAA, FBS, into a national bank.
Approved: May 9, 2023
Cleveland
Mercer Bancorp, Inc., Celina, Ohio -- to become a bank holding company by acquiring Mercer Savings Bank, Celina, Ohio, upon the conversion of Mercer Savings Bank from mutual to stock form.
Approved: May 8, 2023
Philadelphia
The Toronto-Dominion Bank, Toronto, Ontario, Canada; TD Group US Holdings, LLC, Wilmington, Delaware; and TD Bank US Holding Company, Cherry Hill, New Jersey -- to acquire First Horizon Corporation and its subsidiary, First Horizon Bank, both of Memphis, Tennessee.
Withdrawn: May 12, 2023
Richmond
MVB Financial Corp., Fairmont, West Virginia -- to acquire Integrated Financial Holdings, Inc., Raleigh, North Carolina, and thereby indirectly acquire West Town Bank & Trust, North Riverside, Illinois.
Withdrawn: May 9, 2023
Bank Premises
Kansas City
The Colorado Bank and Trust Company, La Junta, Colorado -- to increase its investment in bank premises.
Approved: May 9, 2023
St. Louis
Citizens Bank & Trust Company, Van Buren, Arkansas -- to increase its investment in bank premises.
Approved: May 8, 2023
Change in Bank Control
Atlanta
P B Bancshares, Inc., Clifton, Tennessee -- Melessa Gail Ruth, Savannah, Tennessee, as trustee of the P B Bancshares Inc. ESOP, Clifton, Tennessee; to retain voting shares of P B Bancshares, Inc., and thereby indirectly retain voting shares of Peoples Bank, Clifton, Tennessee.
Permitted: May 12, 2023
Dallas
Broadway Bancshares, Inc., San Antonio, Texas -- notificants to retain voting shares of Broadway Bancshares, Inc., and thereby indirectly retain voting shares of Broadway National Bank, San Antonio, Texas.
Permitted: May 10, 2023
Minneapolis
Beresford Bancorporation, Inc., Britton, South Dakota -- Sally A. Farrar, Arkansaw, Wisconsin; Arthur Turner, Lauderdale, Minnesota; Reid Turner, Iowa City, Iowa; and Mary S. Farrar Turner and Frank Turner, both of Pierre, South Dakota; to retain voting shares of Beresford Bancorporation, Inc., Britton, and thereby indirectly retain voting shares of First Savings Bank, Beresford, South Dakota, as part of a group acting in concert that includes the Frank L. Farrar Dynasty Trust II, the Frank L. Farrar and Patricia J. Farrar 2022 Irrevocable Trust, Robert Farrar as trustee of the trusts and individually, all of Britton, South Dakota; Jeanne Farrar Orfield and Samuel Farrar Orfield, Minneapolis, Minnesota; and Anne M. Farrar, St. Paul, Minnesota.
Permitted: May 9, 2023
Beresford Bancorporation, Inc., Britton, South Dakota -- Mary S. Farrar Turner, Pierre, South Dakota; Arthur Turner, Lauderdale, Minnesota; Reid Turner, Iowa City, Iowa; and Frank Turner, to retain voting shares of Beresford Bancorporation, Inc., and thereby indirectly retain First Savings Bank, Beresford, South Dakota, respectively, as part of a group acting in concert that controls Beresford Bancorporation, Inc., and includes the Frank L. Farrar Dynasty Trust II, the Frank L. Farrar and Patricia J. Farrar 2022 Irrevocable Trust, Robert Farrar as trustee of the trusts and individually, all of Britton, South Dakota; Sally A. Farrar, Arkansaw, Wisconsin; Jeanne Farrar Orfield and Samuel Farrar Orfield, Minneapolis, Minnesota; and Anne M. Farrar, St. Paul, Minnesota.
Permitted: May 9, 2023
Extensions of Time
Boston
Reading Cooperative Bank, Reading, Massachusetts -- extension to November 4, 2023, to establish a branch at 215 Canal Street, Lawrence, Massachusetts. *
Granted: May 3, 2023
*Addition
Richmond
Farmers & Merchants Bank, Timberville, Virginia -- extension to August 23, 2023, to establish a branch at 1738 Amherst Street, Winchester, Virginia.
Granted: May 11, 2023
Regulations and Policies
Chair
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: May 8, 2023
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: May 9, 2023