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 July 1, 2023
Bank Branches, Domestic
Minneapolis
First Interstate Bank, Billings, Montana -- to establish a branch at 5650 34th Avenue East, Fargo, North Dakota.
Approved: June 29, 2023
San Francisco
Commencement Bank, Tacoma, Washington -- to establish a mobile branch for the Washington counties of Pierce and King.
Approved: June 26, 2023
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to establish a branch at One Post Office Square, Boston, Massachusetts. *
Approved: June 23, 2023
*Addition
Bank Holding Companies
Minneapolis
Lake Central Financial, Inc., Annandale, Minnesota -- to acquire State Bank of Danvers, Benson, Minnesota.
Approved: June 28, 2023
San Francisco
Carpenter Acquisition Corporation, Newport Beach, California -- to become a bank holding company by acquiring Icon Business Bank (in organization), Riverside, California.
Approved: June 30, 2023
Banks, State Member
New York
Goldman Sachs Bank USA, New York, New York -- to make a public welfare investment.
Withdrawn: June 30, 2023
San Francisco
East West Bank, Pasadena, California -- to make a public welfare investment.
Withdrawn: June 29, 2023
Pacific Premier Bank, Irvine, California -- to make two public welfare investments.
Approved: June 26, 2023
Change in Bank Control
Kansas City
Maple Hill Bancshares, Inc., Maple Hill, Kansas -- Steven R. Niemack, individually, and as trustee of the Steven R. Niemack Revocable Living Trust dated 3-25-2021 and the Steven R. Niemack Family Irrevocable Trust dated 1-31-2011, all of Lawrence, Kansas; to form the Niemack Family Group, a group acting in concert, to retain voting shares of Maple Hill Bancshares, Inc., and thereby indirectly retain voting shares of Stockgrowers State Bank, Maple Hill, Kansas.
Permitted: June 26, 2023
Morgan Capital Corporation, Fort Morgan, Colorado -- John Sneed, individually, and as trustee of the FMS Bank Employee Stock Ownership and 401K Trust, and Mary Sneed, all of Fort Morgan, Colorado; to form the Sneed Family Group, a group acting in concert, to acquire voting shares of Morgan Capital Corporation, and thereby indirectly acquire voting shares of FMS Bank, Fort Morgan, Colorado.
Permitted: June 30, 2023
Minneapolis
First Holding Company of Park River, Inc., Park River, North Dakota -- The Gary W. Paulson and Lyla G. Paulson Revocable Living Trust u/a dated 10-25-2018, Gary W. Paulson and Lyla G. Paulson, as co-trustees, all of Park River, North Dakota; as a group acting in concert, to acquire voting shares of First Holding Company of Park River, Inc., and thereby indirectly acquire voting shares of First United Bank, Park River, North Dakota, and more.
Permitted: June 30, 2023
Extensions of Time
Secretary
First Citizens Bancshares, Raleigh, North Carolina -- extension of time to comply with certain regulatory reporting requirements.
Granted: June 28, 2023
International Operations
Secretary
State Street Bank and Trust Company and State Street International Holdings, both of Boston, Massachusetts -- waiver of the remainder of the prior-notice period to make an investment in State Street Bank International GmbH, Munich, Germany.
Granted: June 27, 2023