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 November 26, 2022
Bank Branches, Domestic
Chicago
First Farmers Bank & Trust Co., Converse, Indiana -- to establish a branch at 639 Main Street, Lafayette, Indiana.
Approved: November 22, 2022
Dallas
Frost Bank, San Antonio, Texas -- to establish a branch at 9651 Katy Freeway, Houston, Texas.
Approved: November 23, 2022
Texas Regional Bank, Harlingen, Texas -- to establish a branch at 1001 Congress Avenue, Austin, Texas.
Approved: November 22, 2022
Secretary
First Citizens Community Bank, Mansfield, Pennsylvania -- to establish a branch at 1820 East 3rd Street, Williamsport, Pennsylvania.
Approved: November 21, 2022
St. Louis
BankTennessee, Collierville, Tennessee -- to establish a branch at 135 College Street, Gallatin, Tennessee.
Approved: November 23, 2022
First Bank, Creve Coeur, Missouri -- to establish a branch at 2950 South Camino Real, San Mateo, California.
Approved: November 22, 2022
Bank Holding Companies
Chicago
Ohnward Bancshares, Inc., Maquoketa, Iowa -- to continue to engage de novo in the nonbanking activities of tax preparation, management consulting services, and data processing pursuant to 12 CFR 225.28(b)(6)(vi); 225.28(b)(9)(i)(A), and 225.28(b)(14)(i).
Approved: November 22, 2022
Change in Bank Control
Dallas
Jefferson Bancshares, Inc., San Antonio, Texas -- Linda Lewis McSween Trust FBO Paul E. McSween III; Paul E. McSween III, trustee, Linda Lewis McSween Trust FBO Linda McSween Satel; Linda McSween Satel, trustee; Linda Lewis McSween Trust FBO Juliet McSween Zacher; Juliet McSween Zacher, trustee, and Linda Lewis McSween Trust FBO Jennifer McSween Canavan; Jennifer McSween Canavan, trustee, all of San Antonio, Texas, intend to apply to the Federal Reserve Board for permission to join, and act in concert with, the McSween Family Control Group, which was previously approved on August 12, 2022, under the Change in Bank Control Act to retain control of 25 percent or more of the outstanding shares of voting common stock of and thereby control Jefferson Bancshares, Inc., which controls Jefferson Bank, San Antonio, Texas.
Permitted: November 21, 2022
Minneapolis
First State Bank Southwest KSOP Plan and Trust, Worthington, Minnesota -- Mark Jon Vis, Worthington, Minnesota, as co-trustee, to acquire control of First State Bank Southwest KSOP Plan and Trust, which controls 25 percent or more of the shares of First Rushmore Bancorporation, Inc., Worthington, Minnesota. First Rushmore, Inc., controls First State Bank Southwest, Pipestone, Minnesota.
Permitted: November 21, 2022
International Operations
Secretary
The Northern Trust Company, Chicago, Illinois -- waiver of remainder of the prior-notice period for The Northern Trust International Banking Corporation, Jersey City, New Jersey, to make an investment in Northern Trust Secretarial Services (UK) Limited, London, United Kingdom. *
Granted: November 16, 2022
*Addition
Membership
Dallas
The First Liberty National Bank, Liberty, Texas -- to retain its membership in the Federal Reserve System following its conversion to a state-chartered bank, to be known as The First Liberty Bank.
Approved: November 21, 2022
Regulations and Policies
Director, MA
Regulation D (Reserve Requirements of Depository Institutions) -- annual indexing of reserve requirement exemption amount and low reserve tranche for 2023.
Approved: November 23, 2022
Section 23A Exemptions
Director, S&R
Home Street Bank (Bank), Seattle, Washington -- determination that a proposed transaction by Bank to acquire HomeStreet Capital Corporation, Seattle, Washington, in connection with an internal corporate reorganization, would be in the public interest and consistent with the purposes of section 23A of the Federal Reserve Act.
Approved: November 23, 2022