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 August 5, 2023
Advisory Councils
Director, S&R
Insurance Policy Advisory Committee -- notice that the Board is accepting applications from individuals who wish to be considered for membership on the committee.
Approved: August 4, 2023
Bank Branches, Domestic
Minneapolis
Farmers State Bank, Victor, Montana -- to establish a branch at 3200 Brooks Street, Missoula, Montana.
Approved: August 3, 2023
Bank Holding Companies
Boston
Bangor Bancorp, MHC, Bangor, Maine -- to acquire voting shares of IncumbentFI, Inc., Wilmington, Delaware, and thereby engage in data processing, data storage, and data transmission services pursuant to section 225.28(b)(14)(i) and (ii) of the Board?s Regulation Y.
Approved: August 4, 2023
Dallas
HomeTown Bancshares, Inc., Galveston, Texas -- to acquire HomeTown Bank, National Association, Galveston, Texas.
Approved: August 3, 2023
Kansas City
WSB Financial, Inc., Leesburg, Florida -- to become a bank holding company by acquiring J&M Bancshares, Inc., and thereby indirectly acquiring The Walton State Bank, both of Walton, Kansas.
Approved: July 31, 2023
San Francisco
BancPacific Financial Holding Corporation, Hagatna, Guam, and Marianas Finance Corporation, Tamuning, Guam -- (1) to become bank holding companies by acquiring BancPacific Ltd., Hagatna, Guam, upon the conversion of BankPacific Ltd., from a savings association to a commercial bank, and (2) elections to become financial holding companies.
Approved: August 4, 2023
Change in Bank Control
Boston
Provident Bancorp, Inc., Amesbury, Massachusetts -- Stilwell Activist Investments, L.P., Stilwell Activist Fund, L.P., and Stilwell Partners L.P., together known as The Stilwell Group, Stilwell Value LLC, all of New York, New York, and more; a group acting in concert, to acquire additional voting shares of Provident Bancorp, Inc., and thereby indirectly acquire voting shares of BankProv, Amesbury, Massachusetts.
Permitted: August 1, 2023
Kansas City
Sundance Bankshares, Inc., Sundance, Wyoming -- Michael Taylor, Sundance, Wyoming, to join the Richard Durfee Family Control Group, a group acting in concert, to retain voting shares of Sundance Bankshares, Inc., and thereby indirectly retain voting shares of Sundance State Bank, Sundance, Wyoming.
Permitted: August 3, 2023
Sundance Bankshares, Inc., Sundance, Wyoming -- Charles and Loretta Durfee Revocable Trust, Loretta Durfee and Charles Durfee, as co-trustees, all of Sundance, Wyoming; Gerald and Peggy Hyatt Living Trust, Gerald Hyatt and Peggy Hyatt, as co-trustees, all of Bar Nunn, Wyoming, and many more; to join the James R. Durfee Family Control Group, a group acting in concert, to retain voting shares of Sundance Bankshares, Inc., and thereby indirectly retain voting shares of Sundance State Bank, Sundance, Wyoming.
Permitted: August 3, 2023
San Francisco
Lewis & Clark Bancorp, Oregon City, Oregon -- FinTech HQ Inc., Vancouver, Washington, to acquire additional voting shares of Lewis & Clark Bancorp and thereby indirectly acquire voting shares of Lewis & Clark Bank, Oregon City, Oregon.
Withdrawn: August 3, 2023
Pacific West Bank, West Linn, Oregon -- FinTech HQ Inc., Vancouver, Washington, to acquire additional voting shares of Pacific West Bancorp and thereby indirectly acquire voting shares of Pacific West Bank, West Linn, Oregon.
Withdrawn: August 3, 2023
Extensions of Time
Richmond
Bank of America, National Association, Charlotte, North Carolina -- extension of time to make an investment pursuant to section 211.9(f) of Regulation K.
Granted: August 3, 2023
Secretary
A.N.B. Holding Company, Ltd., Terrell, Texas -- extension to October 15, 2023, to acquire additional shares of The ANB Corporation and thereby indirectly acquire additional shares of The American National Bank of Texas, both of Terrell, Texas.
Granted: August 1, 2023
International Operations
Secretary
State Street International Holdings, Boston, Massachusetts -- to amend its articles of association. *
Approved: July 24, 2023
*Addition
Savings and Loan Holding Companies
Kansas City
Central Plains Bancshares, Inc., Grand Island, Nebraska -- to become a savings and loan holding company by acquiring Home Federal Savings and Loan Association of Grand Island (HFSL), Grand Island, Nebraska, upon the conversion of HFSL from mutual to stock form.
Approved: July 31, 2023
Philadelphia
Walden MHC and Walden Bancorp, Inc., both of Montgomery, New York -- to become a mutual savings and loan holding company and a mid-tier stock savings and loan holding company, respectively, by acquiring Walden Savings Bank (WSB), Montgomery, New York, in connection with the conversion of WSB from mutual to stock form.
Withdrawn: August 2, 2023
Supervision and Regulation
Director, S&R
Citizens Financial Group, Inc., Providence, Rhode Island -- to make capital distributions in the third quarter of 2023 after the occurrence of an event requiring resubmission of its capital plan.
Approved: August 3, 2023