FRB: H.2--Actions under delegated authority--Week ending December 20, 2008

Compass Bank, Birmingham, Alabama -- to establish branches at 2134 Rayford Road, Spring, Texas; 14213 Cypress Rosehill Road, Cypress; and 11091 Broadway Street, Pearland.
-Approved, December 15, 2008

Manufacturers and Traders Trust Company, Buffalo, New York -- to establish branches at 19209 A-B Chennault Way, Gaithersburg, Maryland; 5910 Executive Boulevard, Rockville; and 910 South Richland Avenue, Spring Garden Township, Pennsylvania.
-Approved, December 19, 2008

Security Financial Bank, Durand, Wisconsin -- to establish a branch at 3506 Oakwood Mall Drive, Suite A, Eau Claire.
-Approved, December 18, 2008

Bank Holding Companies

BancTenn Corp., Kingsport, Tennessee -- to acquire shares of Paragon Commercial Corporation, Raleigh, North Carolina, and its subsidiary bank, Paragon Commercial Bank.
-Approved, December 19, 2008

CapGen Capital Group II, LLC, New York, New York, and CapGen Capital Group II, LP -- to become bank holding companies and to acquire shares of PacWest Bancorp, San Diego, California, and thereby indirectly acquire Pacific Western Bank.
-Approved, December 19, 2008

Florida Commerce Bancorp, Inc., Fort Myers, Florida -- relief from a commitment.
-Returned, December 18, 2008

Hampton Roads Bankshares, Inc., Norfolk, Virginia -- to acquire Gateway Financial Holdings, Inc., Virginia Beach, and thereby indirectly acquire its subsidiary bank, Gateway Bank and Trust Co., Elizabeth City, North Carolina.
-Approved, December 16, 2008

High Country Bancorp, Inc., Salida, Colorado -- to become a bank holding company and to acquire High Country Bank, Salida.
-Withdrawn, December 16, 2008

Union State Banc Holding Company, Clay Center, Kansas -- to become a bank holding company and to acquire Union State Bank, Clay Center.
-Approved, December 17, 2008

Bank Mergers

Paramount Bank, Farmington Hills, Michigan -- to merge with Paramount Bank, Las Vegas, Nevada, and thereby establish a branch at 7795 West Sahara Avenue.
-Approved, December 17, 2008

Banks, Foreign

Monte de Piedad y Caja de Ahorros San Fernando de Huelva, Jerez y Sevilla, Seville, Spain -- to establish a representative office in Miami, Florida.
-Approved, December 19, 2008

Change In Bank Control

Fife Commercial Bank 401K Employee Stock Ownership Plan, Fife, Washington -- to acquire an interest in Puget Sound Financial Services, Inc., Fife, and its subsidiary bank, Fife Commercial Bank.
-Permitted, December 9, 2008 (AC)

MNB Ventures, Inc., Mercedes, Texas -- change in control of MNB Ventures and its subsidiary bank, Texas National Bank, Mercedes.
-Permitted, December 15, 2008

Extensions Of Time

Gateway Pacific Bancorp, National City, California -- extension to March 16, 2009, to become a bank holding company and to acquire Gateway Pacific Bank (in organization), National City.
-Granted, December 17, 2008

NHB Holdings, Inc., Jacksonville, Florida, and Proficio Mortgage Ventures, LLC -- extension to March 18, 2009, to engage de novo in a joint venture with Mainsail Capital, Jacksonville, and Trinity Venture Partners in conducting mortgage banking activities.
-Granted, December 18, 2008

Orange County Trust Company, Middletown, New York -- extension to August 8, 2009, to establish a branch at 91 Brookside Avenue, Middletown.
-Granted, December 19, 2008

Financial Holding Companies

FSB Financial Services, Inc., Waterloo, Iowa -- election to become a financial holding company.
-Effective, December 17, 2008

Tate Financial Corporation, Senatobia, Mississippi -- election to become a financial holding company.
-Effective, December 19, 2008

Regulations And Policies

Regulation BB (Community Reinvestment) -- interagency annual adjustment to the asset-size exemption thresholds used to define "small bank" and "intermediate small bank" under the Community Reinvestment Act regulations.
-Approved, December 16, 2008

Regulation C (Home Mortgage Disclosure) -- annual notice of the asset-size exemption threshold for depository institutions under the Home Mortgage Disclosure Act.
-Approved, December 17, 2008

Regulation CC (Availability of Funds and Collection of Checks) -- technical amendments to Appendix A to reflect the restructuring of check processing operations in the Atlanta and St. Louis Federal Reserve Districts.
-Approved, December 15, 2008

Regulation Z (Truth in Lending) -- extension to February 9, 2009, of the comment period on amendments to revise the disclosure requirements for mortgage loans consistent with recent statutory changes made by the Mortgage Disclosure Improvement Act.
-Approved, December 15, 2008

Short-Term Interest Rates -- decrease in the target for the federal funds rate from 1 percent by establishing a target range of 0 to 1/4 percent.
-Approved, December 16, 2008

Actions under delegated authority

Actions taken during the week ending December 20, 2008

Bank Branches, Domestic