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 17, 2024
Bank Branches, Domestic
Atlanta
Southern Bank of Tennessee, Mount Juliet, Tennessee -- to establish a branch at 5109 Peter Taylor Park Drive, Brentwood, Tennessee.
Approved: August 16, 2024
Boston
Brookline Bank, Brookline, Massachusetts -- to establish a branch at 435 Winthrop Avenue, Lawrence, Massachusetts.
Approved: August 14, 2024
Kansas City
First State Bank Nebraska, Lincoln, Nebraska -- to establish a branch at 6457 Frances Street, Omaha, Nebraska.
Approved: August 14, 2024
New York
Solvay Bank, Syracuse, New York -- to establish a branch at 4256 James Street, Syracuse, New York.
Approved: August 15, 2024
Bank Holding Companies
Atlanta
The United Bank Corporation Employee Stock Ownership Plan Trust, Barnesville, Georgia -- to become a bank holding company by acquiring voting shares of United Bank Corporation, Barnesville, Georgia, and thereby indirectly acquiring shares of United Bank, Zebulon, Georgia.
Approved: August 14, 2024
Bank Mergers
Kansas City
Alva State Bank & Trust Company, Alva, Oklahoma -- to merge with First National Bank in Okeene, Okeene, Oklahoma, and thereby establish a branch in Okeene, Oklahoma.
Approved: August 15, 2024
St. Louis
Exchange Bank of Northeast Missouri, Kahoka, Missouri -- to merge with Kahoka State Bank, Kahoka, Missouri.
Approved: August 16, 2024
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make a public welfare investment.
Approved: August 13, 2024
Richmond
United Bank, Fairfax, Virginia -- to make certain public welfare investments (three requests).
Approved: August 12, 2024
Change in Bank Control
Kansas City
CSB Bancshares, Inc., Ellsworth, Kansas -- Troy Soukup, Ellsworth, Kansas, to retain his position as trustee of CSB Bancshares, Inc. Amended Employee Stock Ownership Plan and thereby indirectly retain control of CSB Bancshares, Inc., and Citizens State Bank and Trust Co., all of Ellsworth, Kansas.
Permitted: August 16, 2024
Philadelphia
Freedom Financial Holdings, Inc., Fairfax, Virginia -- Kenneth R. Lehman, Fort Lauderdale, Florida, to retain voting shares of Freedom Financial Holdings, Inc., and thereby indirectly retain voting shares of The Freedom Bank of Virginia, Fairfax, Virginia.
Permitted: August 12, 2024
Extensions of Time
Director, S&R
Citigroup Inc., New York, New York -- extension of time to conform or divest a merchant banking investment.
Granted: August 12, 2024
Savings and Loan Holding Companies
Cleveland
Monroe Federal Bancorp, Inc., Tipp City, Ohio -- to become a savings and loan holding company by acquiring Monroe Federal Savings and Loan Association (MFSLA), Tipp City, Ohio, in connection with the conversion of MFSLA from mutual to stock form.
Approved: August 15, 2024