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 15, 2025
Bank Branches, Domestic
Dallas
Frost Bank, San Antonio, Texas -- to establish a branch at 3000 Golden Triangle Boulevard, Fort Worth, Texas.
Approved: March 11, 2025
Minneapolis
First Interstate Bank, Billings, Montana -- to establish a branch at 1947 9th Street West, Columbia Falls, Montana.
Approved: March 14, 2025
St. Louis
Cadence Bank, Tupelo, Mississippi -- to establish a branch at 3210 Market Street, Pascagoula, Mississippi, and to consolidate the loan production office located at 726 Delmas Avenue into the Market Street branch.
Approved: March 13, 2025
Bank Holding Companies
Director, S&R
Popular, Inc., San Juan, Puerto Rico -- termination of agreement dated November 18, 1998, between Popular Leasing & Rental, Inc. (the predecessor to Popular Auto, LLC), and the Board pursuant to section 25 of the Federal Reserve Act, concurrent with consummation of the proposed merger between Banco Popular de Puerto Rico and Popular Auto as part of an internal reorganization.*
Approved: March 7, 2025
*Addition
Town & Country Bancshares, Inc. (T&C), Norman, Oklahoma -- request by T&C, Bassam Dina, and Prism Bank, Guthrie, Oklahoma, for partial relief from certain commitments.
Approved: March 10, 2025
Bank Mergers
Boston
Reading Co-Operative Bank, Reading, Massachusetts -- to merge with Wakefield Co-operative Bank, Wakefield, Massachusetts, and thereby establish branches at Wakefield Co-operative Bank's main office and branches.
Approved: March 10, 2025
Chicago
One Community Bank, Oregon, Wisconsin -- to merge with Intercity State Bank, Schofield, Wisconsin, and establish branches at 962 Grand Avenue, Schofield, Wisconsin; 2900 Schofield Avenue, Weston, Wisconsin; and 3600 Stewart Avenue, Wausau, Wisconsin.
Approved: March 13, 2025
Banks, State Member
Dallas
Comerica Bank, Dallas, Texas -- to make a public welfare investment.
Approved: March 12, 2025
Change in Bank Control
Dallas
Bastrop Bancshares, Inc., Bastrop, Texas -- Stephen J. Lee, Bastrop, Texas, individually, and as trustee of the Bastrop Bancshares, Inc. Employee Stock Ownership Plan (with 401(k) provisions) (amended effective November 12, 2024), Bastrop, Texas, a group acting in concert, to retain voting shares of Bastrop Bancshares, Inc., and thereby indirectly retain voting shares of First National Bank of Bastrop, Bastrop, Texas.
Permitted: March 11, 2025
PFBS Holdings, Inc., Dallas, Texas -- Pratt Family PFBS Irrevocable Trust, Brian L. Pratt and Kenneth William Pratt, trustees, all of Dallas, Texas, to join the Pratt Family Control Group, a group acting in concert, to acquire voting shares of PFBS Holdings, Inc., and thereby indirectly acquire voting shares of Lakeside Bank, Rockwall, Texas.
Permitted: March 13, 2025
Extensions of Time
Director, S&R
Wells Fargo & Company, San Francisco, California -- extension of time to conform or divest a merchant banking investment.*
Granted: March 3, 2025
*Addition
Secretary
A.N.B. Holding Company, Ltd., Terrell, Texas -- extension of time to acquire additional shares of The ANB Corporation, Terrell, Texas.*
Granted: March 4, 2025
*Addition
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: March 14, 2025