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 24, 2024
Bank Branches, Domestic
Dallas
Frost Bank, San Antonio, Texas -- to establish a branch at 9605 Coit Road, Plano, Texas.
Approved: August 19, 2024
New York
Dime Community Bank, Bridgehampton, New York -- to establish a branch at 390 Berry Street, Brooklyn, New York.
Approved: August 23, 2024
Bank Holding Companies
Dallas
The Adam Corporation Group and TAC Financial Corporation, both of College Station, Texas -- (1) to become bank holding companies by acquiring Adam Bank Group, Inc., and thereby indirectly acquiring American Momentum Bank, both of College Station, Texas; (2) to engage in agency transactional services for customer investments pursuant to section 225.28(b)(7) of the Board's Regulation Y through its subsidiary Globaltech Securities, LLC, Clifton Park, New York; and (3) to elect to become financial holding companies.
Approved: August 22, 2024
General Counsel
Skyline Bankshares, Inc., Floyd, Virginia -- waiver of application in connection with the acquisition and merger of Johnson County Bank, Mountain City, Tennessee, with and into Skyline National Bank, Independence, Virginia.
Granted: August 23, 2024
United Community Banks, Inc., and United Community Bank, both of Greenville, South Carolina -- request for an exemption under the Depository Institution Management Interlocks Act and Regulation L.
Granted: August 23, 2024
Kansas City
Northeast Kansas Bancshares, Inc., Overland Park, Kansas -- termination of certain commitments.
Granted: August 21, 2024
Minneapolis
First Rushmore Bancorporation, Inc., Worthington, Minnesota -- request by Gregory Raymo for relief from certain commitments involving First Rushmore Bancorporation.
Granted: August 22, 2024
Banks, Foreign
Director, S&R
OakNorth Bank, plc, London, England -- to establish a representative office in New York, New York.
Approved: August 23, 2024
Banks, State Member
Secretary
The Northern Trust Company, Chicago, Illinois -- to make certain public welfare investments (two requests).
Approved: August 22, 2024
Change in Bank Control
Kansas City
Pinnacle Bancorp, Inc., Omaha, Nebraska -- Thomas S. Dinsdale 2011 Irrevocable Trust, Kim W. Dinsdale, trustee, both of Grand Island, Nebraska; to acquire voting shares of Pinnacle Bancorp, Inc., Omaha, Nebraska, and thereby indirectly acquire voting shares of Pinnacle Bank, Lincoln, Nebraska; Pinnacle Bank, Fort Worth, Texas; Pinnacle Bank-Wyoming, Cody, Wyoming; and Bank of Colorado, Fort Collins, Colorado, and to become a member of the Dinsdale Family Group, a group acting in concert, that controls Pinnacle Bancorp, Inc.
Permitted: August 20, 2024
Extensions of Time
Secretary
Maine Community Bancorp, MHC, and Maine Community Bancorp, Inc., both of Auburn, Maine -- extension to January 6, 2025, to complete the acquisition of Gorham Bancorp, MHC, and Gorham Bancorp, Inc., both of Gorham, Maine.
Granted: August 23, 2024
Membership
Dallas
Benchmark Bank, Plano, Texas -- to become a member of the Federal Reserve System.
Approved: August 20, 2024