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 May 27, 2023
Bank Branches, Domestic
Dallas
Vista Bank, Dallas, Texas -- to establish a branch at 3835 PGA Boulevard, Palm Beach Gardens, Florida.
Approved: May 26, 2023
WestStar Bank, El Paso, Texas -- to establish a branch at 12300 Eastlake Boulevard, El Paso, Texas.
Approved: May 26, 2023
New York
Dime Community Bank, Bridgehampton, New York -- to establish a branch at 1931 Richmond Avenue, Staten Island, New York.
Withdrawn: May 22, 2023
Richmond
The First Bank & Trust Company, Lebanon, Virginia -- to establish a branch at 2100 Community Drive, Mount Airy, North Carolina, and to increase its investment in bank premises.
Approved: May 23, 2023
Bank Holding Companies
Boston
Newburyport Five Cents Bancorp, MHC, and Newburyport Five Cents Bancorp, Inc., both of Newburyport, Massachusetts -- to merge with Pentucket Bank Holdings, MHC, and Pentucket Bancorp, Inc., respectively, and thereby indirectly acquire Pentucket Bank, all of Haverhill, Massachusetts.
Approved: May 22, 2023
Chicago
First Mid Bancshares Inc., through its subsidiary, Eagle Sub, LLC, both of Mattoon, Illinois -- to acquire Blackhawk Bancorp, Inc., and thereby indirectly acquire Blackhawk Bank, both of Beloit, Wisconsin. Additionally, Eagle Sub, LLC, to become a bank holding company upon the merger and more.
Approved: May 26, 2023
Grinnell Bancshares, Inc., Grinnell, Iowa -- to acquire The Colorado Bank & Trust Company of La Junta, La Junta, Colorado.
Approved: May 25, 2023
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make certain public welfare investments.
Approved: May 25, 2023
San Francisco
East West Bank, Pasadena, California -- to make certain public welfare investments.
Approved: May 25, 2023
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to make certain public welfare investments.
Approved: May 25, 2023
Change in Bank Control
Dallas
Bi-Stone Bancshares, Inc., Mexia, Texas -- Gregory Scott Stubbs, Groesbeck, Texas; Jami Lynn Jones and Cynthia Lou Neal, both of Fairfield, Texas; and Erin Neal Harvey, Corpus Christi, Texas; to join the Stubbs Family Group, a group acting in concert to retain voting shares of Bi-Stone Bancshares, Inc., and thereby indirectly retain voting shares of Incommons Bank, National Association, Mexia, Texas.
Permitted: May 22, 2023
Minneapolis
American Federal Corporation, Fargo, North Dakota -- The American Federal Bank and Affiliates Employee Stock Ownership Plan (ESOP) and the American Federal Bank Restricted Stock Plan and Trust (RSP), both of Fargo, North Dakota; Dean P. McCleary, Moorhead, Minnesota; and more; all individually and as co-trustees of the ESOP and RSP, as a group acting in concert to retain voting shares of American Federal Corporation and thereby indirectly retain voting shares of American Federal Bank, Fargo, North Dakota.
Permitted: May 24, 2023
St. Louis
Farmers Financial Corporation, Milton, Kentucky -- Ralph M. Pratt, III, individually and as trustee of the Ralph M. Pratt, III Trust and the Minor Daughter Trust, and Jacqueline K. Pratt, all of Prospect, Kentucky; and many more; to become members of the Pratt Family Control Group, a group acting in concert to retain voting shares of Farmers Financial Corporation, and thereby indirectly retain voting shares of The Farmers Bank of Milton, Milton, Kentucky.
Permitted: May 23, 2023
Extensions of Time
Kansas City
Enterprise Bank, Omaha, Nebraska -- extension to August 31, 2023, to establish a branch at 525 North 132nd Street, Omaha, Nebraska.
Granted: May 24, 2023
St. Louis
Simmons Bank, Pine Bluff, Arkansas -- extension to December 31, 2023, to establish a branch at 1400 East Harding Avenue, Pine Bluff, Arkansas.
Granted: May 26, 2023