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 October 12, 2024
Bank Branches, Domestic
Chicago
Bank Iowa, West Des Moines, Iowa -- to establish a branch at 1919 US-18, Clear Lake, Iowa.
Approved: October 7, 2024
St. Louis
The Central Trust Bank, Jefferson City, Missouri -- to establish a branch at 2 Old Williamsburg Parkway, Wentzville, Missouri.
Approved: October 8, 2024
MA Bank, Macon, Missouri -- to establish a branch at 2022 North Baltimore Street, Kirksville, Missouri.
Approved: October 11, 2024
Bank Holding Companies
Chicago
Western Illinois Bancshares, Inc., Monmouth, Illinois -- to merge with Main Street Bancorp, Inc., and thereby indirectly acquire Princeville State Bank, both of Princeville, Illinois.
Approved: October 7, 2024
Bank Mergers
Kansas City
Cornerstone Bank, York, Nebraska -- to merge with Bank of Orchard, Orchard, Nebraska, and thereby establish a branch at 145 East 2nd Street, Orchard, Nebraska.
Approved: October 7, 2024
Banks, State Member
Secretary
The Northern Trust Company, Chicago, Illinois -- to make a public welfare investment.
Approved: October 8, 2024
Change in Bank Control
Dallas
Moody Bancshares, Inc., Galveston, Texas -- Russell Shearn Moody, League City, Texas; Frances Moody-Dahlberg, Dallas, Texas; Moody Children?s 2018 Gift Trust, Galveston, Texas, Ross Rankin Moody, Austin, Texas, as trustee; Russell Shearn Moody Three R Voting Trust, Galveston, Texas, Russell Shearn Moody, League City, Texas, as trustee; Ross Rankin Moody Three R Voting Trust, Galveston, Texas, Ross Rankin Moody, Austin, Texas, as trustee; Frances Moody-Dahlberg Three R Voting Trust, Galveston, Texas, Frances Moody-Dahlberg, Dallas, Texas, as trustee; and Robert L. Moody, Jr. Three R Voting Trust, Galveston, Texas, Irwin M. Herz, Jr., Galveston, Texas, as trustee; to join the Moody Control Group, a group acting in concert, to retain voting shares of Moody Bancshares, Inc., and Moody Bank Holding Company, Reno, Nevada, and thereby indirectly retain voting shares of Moody National Bank, Galveston, Texas.
Permitted: October 10, 2024
Minneapolis
Lake Elmo Bancshares, Inc., Lake Elmo, Minnesota -- John Daniel Billingsley, Lake Elmo, Minnesota, to join the Raleigh Family Control Group, a group acting in concert, to retain voting shares of Lake Elmo Bancshares, Inc., and thereby indirectly retain voting shares of Lake Elmo Bank, Lake Elmo, Minnesota.
Permitted: October 10, 2024
Regulations and Policies
General Counsel
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: October 7, 2024
Lending and Liquidity Facilities -- reports to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: October 7, 2024
Supervision and Regulation
General Counsel
Barclays US LLC, New York, New York -- application for approval of a proposed internal debt "conversion trigger" that would allow the Board to order the conversion of Barclays US LLC's eligible long-term debt into common equity tier 1 capital, in accordance with the Board's TLAC (total-loss absorbing capacity) rule.*
Approved: September 27, 2024
*Addition