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 22, 2024
Bank Branches, Domestic
New York
Bank of Millbrook, Millbrook, New York -- to establish a branch at 110 Route 44, Millerton, New York.
Approved: June 18, 2024
Richmond
Primis Bank, Tappahannock, Virginia -- to expand courier services in Spotsylvania County, Virginia; Fredericksburg, Virginia; Charles County, Maryland; Frederick County, Maryland; Richmond County, Virginia; Westmoreland County, Virginia; and King George County, Virginia.
Approved: June 17, 2024
St. Louis
The Central Trust Bank, Jefferson City, Missouri -- to establish a branch at 15892 South Ridgeview Road, Olathe, Kansas.
Approved: June 21, 2024
The Central Trust Bank, Jefferson City, Missouri -- to establish a branch at 9505 Ambassador Street, Lenexa, Kansas.
Approved: June 21, 2024
Bank Holding Companies
Boston
Hometown Financial Group, MHC, and Hometown Financial Group, Inc., both of Easthampton, Massachusetts -- to merge with North Shore Bancorp and thereby indirectly acquire North Shore Bank, both of Peabody, Massachusetts.
Approved: June 21, 2024
Chicago
Wintrust Financial Corporation, Rosemont, Illinois -- to merge with Macatawa Bank Corporation and thereby indirectly acquire Macatawa Bank, both of Holland, Michigan.
Approved: June 17, 2024
Secretary
Maine Community Bancorp, MHC, and its subsidiary, Maine Community Bancorp, Inc., both of Auburn, Maine -- (1) to merge respectively with Gorham Bancorp, MHC, and its subsidiary, Gorham Bancorp, Inc., and to thereby indirectly acquire Gorham Savings Bank (GSB), all of Gorham, Maine, and (2) to indirectly acquire GSB's non-wholly owned subsidiary, Bigelow Investment Advisors, LLC.
Approved: June 21, 2024
Bank Mergers
Boston
North Shore Bank, a Co-operative Bank, Peabody, Massachusetts -- to merge with and into Abington Bank, Abington, Massachusetts, and thereby establish branches.
Approved: June 21, 2024
Bank Premises
New York
Bank of Millbrook, Millbrook, New York -- to increase its investment in bank premises.
Approved: June 18, 2024
Banks, State Member
Chicago
Ally Bank, Sandy, Utah -- to make three public welfare investments.
Approved: June 17, 2024
San Francisco
East West Bank, Pasadena, California -- to make two public welfare investments.
Approved: June 21, 2024
Secretary
The Northern Trust Company, Chicago, Illinois -- to make a public welfare investment.
Approved: June 21, 2024
Change in Bank Control
Chicago
Security Agency, Incorporated, Decorah, Iowa -- the BG 2024 Trust, Milwaukee, Wisconsin, Ben Grimstad, Decorah, Iowa, and Peter J. Wilder, Pewaukee, Wisconsin, as co-trustees, and Padrin Grimstad, Decorah, Iowa, individually, and as Grantor; the JG 2024 Trust, Milwaukee, Wisconsin, Joseph Grimstad, Decorah, Iowa, and Peter J. Wilder, as co-trustees, and Ann Grimstad, Decorah, Iowa, individually, and as Grantor; to join the Grimstad Family Control Group, a group acting in concert, to acquire voting shares of Security Agency, Incorporated, and thereby indirectly acquire voting shares of Decorah Bank and Trust Company, Decorah, Iowa.
Permitted: June 18, 2024
Extensions of Time
Secretary
Fedwire Funds Service (FFS) and National Settlement Service (NSS) -- extension of the comment period until September 6, 2024, on the proposal to expand the operating hours of the FFS and NSS.
Approved: June 21, 2024
Supervision and Regulation
Director, S&R
Financial Sector Liabilities -- announcement under Regulation XX of the aggregate consolidated liabilities of financial companies in effect from July 1, 2024, through June 30, 2025.*
Approved: June 13, 2024
*Addition