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 March 16, 2024
Bank Branches, Domestic
Dallas
Third Coast Bank, SSB, Humble, Texas -- to establish a branch at 3650 North Major Drive, Beaumont, Texas.
Approved: March 14, 2024
Bank Holding Companies
Cleveland
Main Street Financial Services Corp., Wheeling, West Virginia -- to acquire Wayne Savings Bancshares Inc., and thereby indirectly acquire Wayne Savings Community Bank, both of Wooster, Ohio.
Approved: March 13, 2024
General Counsel
New York Community Bancorp, Inc., Hicksville, New York -- request for an exemption from the management interlock prohibitions under the Depository Institution Management Interlocks Act and the Board?s Regulation L.*
Approved: March 9, 2024
*Addition
Banks, State Member
New York
Goldman Sachs Bank USA, New York, New York -- to make a public welfare investment.
Approved: March 12, 2024
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to make a public welfare investment.
Approved: March 14, 2024
Change in Bank Control
Chicago
River Valley Bancorporation, Inc., Wausau, Wisconsin -- the CN 2023 Dynasty Trust, Milwaukee, Wisconsin, Gregory P. Nicklaus, Arbor Vitae, Wisconsin, and Peter J. Wilder, Pewaukee, Wisconsin, as co- trustees; and the DN 2023 Dynasty Trust, Milwaukee, Wisconsin, Todd R. Nicklaus, Rothschild, Wisconsin, and Peter J. Wilder, as co-trustees; to join the Nicklaus Family Control Group, a group acting in concert, to acquire voting shares of River Valley Bancorporation, Inc., and thereby indirectly acquire voting shares of IncredibleBank, Wausau, Wisconsin.
Permitted: March 12, 2024
Kansas City
Citizens Bancshares, Inc., Employee Stock Ownership Plan (ESOP), Edmond, Oklahoma -- Jill Castilla and Lisa Trent, individually and as co-trustees of the Citizens Bancshares, Inc., ESOP, with Youssi Farag, all of Edmond, Oklahoma; to retain control of voting shares of Citizens Bancshares, Inc., and thereby indirectly retain control of voting shares of The Citizens Bank of Edmond, both of Edmond, Oklahoma. Jill Castilla would join Randal K. Granzow to form a family group acting in concert.
Permitted: March 15, 2024
Philadelphia
Blue Ridge Bankshares, Inc., Charlottesville, Virginia -- Kenneth R. Lehman, Fort Lauderdale, Florida; to acquire voting shares of Blue Ridge Bankshares, Inc., and thereby indirectly acquire voting shares of Blue Ridge Bank, National Association, Martinsville, Virginia.
Permitted: March 14, 2024
Extensions of Time
Secretary
UBS Group AG, Zurich, Switzerland -- extension of time to comply with the home-country capital stress testing requirements.
Granted: March 12, 2024
Supervision and Regulation
Director, S&R
Capital One Financial Corporation, McLean, Virginia -- to make certain capital distributions under the capital plan rule.*
Approved: March 1, 2024
*Addition
Truist Financial Corporation, Charlotte, North Carolina -- to make certain capital distributions under the capital plan rule.
Approved: March 15, 2024
Truist Financial Corporation, Charlotte, North Carolina -- request to treat a credit-linked-note transaction and certain substantially identical credit-linked-note transactions as synthetic securitizations under Regulation Q.
Approved: March 12, 2024