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 June 3, 2023
Bank Branches, Domestic
Cleveland
Buckeye Community Bank, Lorain, Ohio -- to establish a branch at 106 South Center Street, LaGrange, Ohio.
Approved: June 2, 2023
First Financial Bank, Cincinnati, Ohio -- to establish a branch at 7615 Reading Road, Cincinnati, Ohio.
Withdrawn: May 31, 2023
Richmond
The Bank of Marion, Marion, Virginia -- to establish a branch at 220 West Main Street, Radford, Virginia, and to increase its investment in bank premises.
Approved: June 2, 2023
St. Louis
First Bank, Creve Coeur, Missouri -- to establish a branch at 2600 Via De La Valle, Del Mar, California.
Approved: June 1, 2023
Peoples Bank, Sheridan, Arkansas -- to establish a branch at 1800 Military Road, Benton, Arkansas.
Approved: June 1, 2023
Bank Holding Companies
Chicago
Capra Financial Inc., Montezuma, Iowa -- to become a bank holding company by acquiring Peoples Savings Bank, Montezuma, Iowa.
Withdrawn: May 30, 2023
Kansas City
1905 Nekota Bankcorp, Inc., Lewellen, Nebraska -- to become a bank holding company by acquiring Lewellen National Corp. and thereby indirectly acquiring Bank of Lewellen, both of Lewellen, Nebraska.
Approved: June 2, 2023
Richmond
Sandy Spring Bancorp, Inc., Olney, Maryland -- request by Endicott Group and its affiliates for relief from certain commitments. *
Granted: May 16, 2023
*Addition
San Francisco
Lexicon Bancorp, Las Vegas, Nevada -- to become a bank holding company by acquiring Lexicon Bank, Las Vegas, Nevada.
Approved: May 30, 2023
West Coast Community Bancorp, Santa Cruz, California -- to become a bank holding company by acquiring Santa Cruz County Bank, Santa Cruz, California.
Approved: June 2, 2023
Banks, State Member
Dallas
Charles Schwab Bank, SSB, Westlake, Texas -- to make certain public welfare investments (two requests). *
Approved: May 17, 2023
*Addition
Change in Bank Control
Chicago
A. M. Saylor, Incorporated, Hampton, Iowa -- David Oren Nelson Living Trust dated January 28, 2022, Memphis, Tennessee; David Oren Nelson, as trustee, Somerville, Tennessee; to retain voting shares of A. M. Saylor, Incorporated, and thereby indirectly retain voting shares of First Hampton Bank, Hampton, Iowa.
Permitted: June 1, 2023
ServBanc Holdco, Inc., Phoenix, Arizona -- Stavros Papastavrou and Sofia Elizabeth Papastavrou, as co-trustees of the Jennifer Papastavrou 2023 Trust fbo Stavros Papastavrou, and more, all of Old Westbury, New York; to join Stavros Papastavrou and form the Papastavrou Family Control Group, a group acting in concert, to acquire voting shares of ServBanc Holdco, Inc., and thereby indirectly acquire control of Allied First Bank, Oswego, Illinois.
Permitted: June 2, 2023
Membership
Richmond
Coastal State Bank, Hilton Head Island, South Carolina -- to become a member of the Federal Reserve System.
Approved: June 1, 2023
Supervision and Regulation
Director, S&R
BMO Financial Corp., Wilmington, Delaware -- to make capital distributions in the second quarter of 2023 after the occurrence of an event requiring resubmission of its capital plan.
Approved: June 2, 2023