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 August 10, 2024
Bank Holding Companies
Atlanta
FB Bancorp, Inc., New Orleans, Louisiana -- to become a bank holding company by acquiring control of Fidelity Bank, a state-chartered mutual savings bank (Bank), New Orleans, Louisiana, in connection with Bank's conversion from mutual to stock form.
Approved: August 7, 2024
Chicago
South Story Bancshares, Inc., Slater, Iowa -- to become a bank holding company by acquiring South Story Bank & Trust, Slater, Iowa.
Withdrawn: August 6, 2024
Philadelphia
Gelt Bancorp, Inc., Lancaster, Pennsylvania -- to become a bank holding company in connection with the reorganization of Bank of Bird-in-Hand, Bird-in-Hand, Pennsylvania.*
Approved: August 1, 2024
*Addition
Bank Mergers
Chicago
Thumb Bank & Trust, Pigeon, Michigan -- to merge, through its wholly owned subsidiary FSB Interim Bank, with Freeland State Bank, Freeland, Michigan, and thereby establish a branch at 185 East Washington Road, Freeland, Michigan.*
Withdrawn: July 29, 2024
*Addition
Change in Bank Control
Kansas City
Canton Bancshares, Inc., Canton, Oklahoma -- Kathryn Shaun Thompson and Matthew Thompson, both of Canton, Oklahoma, to form the Thompson Family Control Group, a group acting in concert, to retain voting shares of Canton Bancshares, Inc., and thereby indirectly retain voting shares of Community State Bank of Canton, Canton, Oklahoma.
Permitted: August 8, 2024
Canton Bancshares, Inc., Canton, Oklahoma -- Steven Bond, Canton, Oklahoma, to retain voting shares of Canton Bancshares, Inc., and thereby indirectly retain voting shares of Community State Bank of Canton, Canton, Oklahoma.
Permitted: August 8, 2024
Kingsbury BDC Financial Services, Inc., Ponca, Nebraska -- the Gwendolyn J. Kingsbury Bank Trust, Gwendolyn J. Kingsbury, as trustee, and Christopher J. Kingsbury, all of Ponca, Nebraska; the Sarah J. Hoesch Bank Trust, Sarah J. Hoesch, as trustee, and Gregory J. McManis and Kristin N. Horst, all of Oregon, Wisconsin; Ryan J. Sprugel, Kearney, Missouri; and Drew C. Sprugel, Kansas City, Missouri, to join the Kingsbury Family Group, a group acting in concert, to retain voting shares of Kingsbury BDC Financial Services, Inc., and thereby indirectly retain voting shares of Bank of Dixon County, Ponca, Nebraska.
Permitted: August 9, 2024
Regulations and Policies
General Counsel
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: August 8, 2024
Lending and Liquidity Facilities -- report to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: August 8, 2024