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 20, 2023
Bank Branches, Domestic
New York
Dime Community Bank, Bridgehampton, New York -- to establish a branch at 2 Teleport Drive, Staten Island, New York.
Withdrawn: May 19, 2023
Bank Holding Companies
Atlanta
Commercial Bancgroup, Inc.; Unified Shares, LLC; and Robertson Holding Company, all of Harrogate, Tennessee -- to acquire outstanding shares of AB&T Financial and thereby indirectly acquire its subsidiary, Alliance Bank & Trust Company, both of Gastonia, North Carolina.
Approved: May 16, 2023
Dallas
Lamar Street Investment Partners, LLC, Addison, Texas -- to become a bank holding company by acquiring Fidelity Bancshares, Inc., and thereby indirectly acquiring Fidelity Bank of Texas, both of Waco, Texas.
Approved: May 18, 2023
Minneapolis
First Financial Corporation, Arthur, North Dakota -- to merge with HSB Financial Corporation, and thereby indirectly acquire Harwood State Bank, both of Harwood, North Dakota.
Approved: May 17, 2023
Richmond
First Reliance Bancshares, Inc., Florence, South Carolina -- request by EJF Capital LLC, EJF Sidecar Fund, Series LLC ?Small Financial Equities Series, and EJF Sidecar Fund Small Financial Equities Ltd. and their subsidiaries and affiliates for relief from certain commitments.
Granted: May 16, 2023
First Reliance Bancshares, Inc., Florence, South Carolina -- request by Huntington Partners, LLLP, and its affiliates for relief from certain commitments. *
Granted: May 11, 2023
*Addition
Bank Mergers
St. Louis
Bank of Crockett, Bells, Tennessee -- to merge with Gates Banking and Trust Company, Gates, Tennessee, and to retain the acquired facility as a branch.
Approved: May 19, 2023
Change in Bank Control
Chicago
Savanna-Thomson Investment, Inc., Savanna, Illinois -- The Kehl Family 2009 Trust; the Kehl Grandchildren's Trust dated November 5, 1997; the Kehl Grandchildren?s Trust fbo Cody J. Kehl dated November 5, 1997; and many more, all of Sioux Falls, South Dakota, and more; to join the Kehl Family Control Group, a group acting in concert, to acquire voting shares of Savanna-Thomson Investment, Inc., Savanna, Illinois, and thereby indirectly acquire voting shares of Savanna-Thomson State Bank, Thomas, Illinois. Additionally, Daniel J. Kehl, Solon, Iowa, to join the Kehl Family Control Group, to retain voting shares of Savanna-Thomson Investment, Inc., and thereby indirectly acquire voting shares of Savanna-Thomson State Bank.
Permitted: May 19, 2023
Minneapolis
Capitol Bancorporation, Inc., Britton, South Dakota -- Mary S. Farrar Turner, Pierre, South Dakota; Arthur Turner, Lauderdale, Minnesota; Reid Turner, Iowa City, Iowa; and Frank Turner, Pierre, South Dakota, to retain voting shares of Capitol Bancorporation, Inc., and thereby indirectly retain First National Bank, Ft. Pierre, South Dakota, respectively, as part of a group acting in concert that controls Capitol 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
*Addition
Capitol 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 Capitol Bancorporation, Inc., and thereby indirectly retain voting shares of First National Bank, Fort Pierre, South Dakota, as part of a group acting in concert that also 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
*Addition
Extensions of Time
Dallas
Comerica Bank, Dallas, Texas -- extension to December 31, 2023, to establish a branch at the corner of Preston Road and John Hickman Parkway, Frisco, Texas.
Granted: May 17, 2023
Membership
Kansas City
First National Bank and Trust Company, Shawnee, Oklahoma -- to retain its membership in the Federal Reserve System following its conversion to a state-chartered bank.
Approved: May 19, 2023
Regulations and Policies
Secretary
Rules Regarding Delegation of Authority -- final rule to make technical corrections. *
Approved: May 9, 2023
*Addition