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 February 11, 2023
Bank Branches, Domestic
Atlanta
Bank Independent, Sheffield, Alabama -- to establish a branch at 410 Sutton Road, Owens Cross Roads, Alabama.
Approved: February 10, 2023
Bank Holding Companies
Atlanta
Piedmont Bancorp, Inc., and The Piedmont Bank, both of Peachtree Corners, Georgia -- to acquire Walton Funding LLC, Inlet Beach, Florida, and to engage in certain nonbank lending activities.
Approved: February 6, 2023
Chicago
Fisher Bancorp, Inc., Fisher, Illinois -- to merge with Butler Point, Inc., and thereby indirectly acquire Catlin Bank, both of Catlin, Illinois.
Approved: February 10, 2023
Oxford Bank Corporation, Oxford, Michigan -- to indirectly acquire an interest in OBHELP, LLC, Oxford, Michigan, and thereby engage in the nonbanking activity of making and servicing loans. *
Approved: January 30, 2023
*Addition
Richmond
City Holding Company, Charleston, West Virginia -- waiver of application to acquire Citizens Commerce Bancshares, Inc., and thereby indirectly acquire its wholly owned subsidiary, Citizens Commerce Bank (CCBK), both of Versailles, Kentucky, in connection with the merger of CCBK with and into City National Bank of West Virginia, Charleston, West Virginia.
Granted: February 6, 2023
Banks, State Member
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to make a public welfare investment.
Approved: February 10, 2023
Change in Bank Control
Atlanta
FineMark Holdings, Inc., Fort Myers, Florida -- Strategic Value Investors, LP; Strategic Value Bank Partners, LLC; Strategic Value Opportunities, LP; Strategic Value Private Partners, LLC; and Benjamin Mackovak and Martin Adams, each a managing member of Strategic Value Bank Partners, LLC and Strategic Value Private Partners, LLC, all of Cleveland, Ohio; as a group acting in concert, to acquire additional voting shares of FineMark Holdings, Inc., and thereby indirectly acquire voting shares of FineMark National Bank & Trust, Fort Myers, Florida.
Permitted: February 8, 2023
Chicago
Arneson Bancshares, Inc., Clear Lake, Iowa -- the Ray V. Hewitt By-Pass Trust fbo Julie Stauffacher, the Ray V. Hewitt By-Pass Trust fbo Mark Hewitt, both of Mason City, Iowa, and the Ray V. Hewitt By-Pass Trust fbo Carrie Nicols, Iowa City, Iowa, with Mark Hewitt as trustee of the aforementioned trusts, Mason City, Iowa; to join the Hewitt Family Control Group, a group acting in concert, to acquire voting shares of Arneson Bancshares, Inc., and thereby indirectly acquire voting shares of Clear Lake Bank & Trust, Clear Lake, Iowa.
Permitted: February 10, 2023
Dallas
Wallis Bancshares, Inc., Wallis, Texas -- the Dakri Grandchildren's 2022 GST Trust for Haaris A. Dakri, the Dakri Grandchildren's 2022 GST Trust for Minor Child 1, the Dakri Grandchildren's 2022 GST Trust for Minor Child 2, and Asif M. Dakri and Faizel M. Dakri as co-trustees of the aforementioned trusts, all of Houston, Texas; to join the Dakri Family Control Group, a group acting in concert, to acquire voting shares of Wallis Bancshares, Inc., and thereby indirectly acquire voting shares of Wallis Bank, Wallis, Texas.
Permitted: February 10, 2023
Minneapolis
Northern Wisconsin Bank Holding Company, Inc., Laona, Wisconsin -- Brian and Patricia Wellmon, Crandon, Wisconsin; to acquire voting shares of Northern Wisconsin Bank Holding Company, and thereby indirectly acquire voting shares of Laona State Bank, Laona, Wisconsin.
Withdrawn: February 10, 2023
San Francisco
Bay Community Bancorp, Oakland, California -- Strategic Value Investors, LP; Strategic Value Bank Partners, LLC; Strategic Value Private Investors, LP; Strategic Value Private Partners, LLC, all of Cleveland, Ohio; Benjamin Mackovak, Bratenahl, Ohio, and Martin Adams, Naples, Florida, each a managing member of Strategic Value Bank Partners, LLC and Strategic Value Private Partners, LLC; as a group acting in concert, to acquire additional voting shares of Bay Community Bancorp, and thereby indirectly acquire additional voting shares of Community Bank of the Bay, Oakland, California.
Permitted: February 8, 2023
Extensions of Time
Kansas City
First Southwest Bancorporation, Inc., Alamosa, Colorado -- extension to June 6, 2023, to engage in data processing activities through its subsidiary, HelloBello Financial, Inc., Durango, Colorado.
Granted: February 10, 2023
Regulations and Policies
Chair
Lending and Liquidity Facilities -- reports to Congress pursuant to section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: February 9, 2023