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 September 30, 2023
Bank Branches, Domestic
Kansas City
Bancfirst, Oklahoma City, Oklahoma -- to establish a branch at 3401 36th Avenue NW, Norman, Oklahoma, and to increase its investment in bank premises.
Approved: September 29, 2023
Secretary
The Northern Trust Company, Chicago, Illinois -- to establish a branch at 500 5th Avenue, Naples, Florida.
Approved: September 28, 2023
Bank Holding Companies
Kansas City
Sovereign Bancorp, Inc. (in formation), Shawnee, Oklahoma -- to become a bank holding company by acquiring Sovereign Bank, Shawnee, Oklahoma.
Approved: September 28, 2023
St. Louis
Liberty Bancorporation, Inc., Liberty, Illinois -- to merge with North Adams Bancshares, Inc., and thereby indirectly acquire North Adams State Bank, both of Ursa, Illinois.
Approved: September 29, 2023
Banks, State Member
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to make a public welfare investment.
Approved: September 26, 2023
Change in Bank Control
Kansas City
Jonah Bankshares, Inc., Casper, Wyoming -- The Luck and Guts Trust, and Trudi Holthouse as trustee, both of Casper, Wyoming, to acquire voting shares of Jonah Bankshares, Inc., and thereby indirectly acquire voting shares of Jonah Bank, Casper, Wyoming.
Permitted: September 29, 2023
Secretary
Westbrand, Inc., Minot, North Dakota -- Hoeven Family Limited Liability Limited Partnership, Bismarck, North Dakota, and John H. Hoeven III, and Marcela Hoeven Samson, as general partners, both of Minot, North Dakota, to acquire voting shares of Westbrand, Inc., and thereby indirectly acquire voting shares of First Western Bank and Trust, Minot, North Dakota.
Permitted: September 25, 2023
Extensions of Time
St. Louis
INSOUTH Bank, Brownsville, Tennessee -- extension to December 31, 2023, to establish a branch at 1421 Union University Drive, Jackson, Tennessee.
Granted: September 27, 2023
Financial Holding Companies
New York
Apple Financial Holdings Inc., New York, New York -- election to become a financial holding company.
Effective: September 28, 2023
Richmond
Primis Financial Corp., McLean, Virginia -- election to become a financial holding company.
Effective: September 25, 2023
Supervision and Regulation
Director, S&R
Morgan Stanley, New York, New York -- request to treat a credit-linked-note transaction and certain substantially identical credit-linked-note transactions as synthetic securitizations under Regulation Q.
Granted: September 29, 2023