Release dates | Full version (300 KB PDF)
Board Actions | Actions under delegated authority
Applications and reports received:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco

Actions under delegated authority

Actions taken during the week ending October 11, 2008


Bank Branches, Domestic

Richmond
Heritage Bank, Norfolk, Virginia  -- to establish a branch at 1756 Laskin Road, Virginia Beach.
-Approved, October 10, 2008 

Richmond
Susquehanna Bank, Hagerstown, Maryland  -- to establish a branch at 201 International Drive, Hunt Valley.
-Approved, October 8, 2008 

Bank Holding Companies

Kansas City
C L C Enterprises, Inc., Nelson, Nebraska  -- to engage in lending activities.
-Approved, October 7, 2008 

Atlanta
Citizens Investors, LLC, Savannah, Georgia  -- to become a bank holding company and to acquire shares of First Citizens Bankshares, Inc., Glenville, and its subsidiary bank, First Citizens Bank.
-Approved, October 7, 2008 

Cleveland
Emclaire Financial Corp, Emlenton, Pennsylvania  -- waiver of application to acquire Elk County Savings and Loan Association, Ridgway, in connection with its conversion from a mutual savings association to a state-chartered stock savings association and its merger with Emclaire's subsidiary bank, The Farmers National Bank of Emlenton, Emlenton.
-Granted, October 10, 2008 

New York
EuroBancshares, Inc. San Juan, Puerto Rico  -- to engage through its subsidiary, EUBK Securities, Inc. (in formation), San Juan, in securities brokerage and riskless-principal transactions.
-Approved, October 8, 2008 

St. Louis
First National Corporation of Wynne, Wynne, Arkansas  -- to acquire an interest in Twin Lakes Bancshares, Inc., Flippin, and thereby retain control of Twin Lakes Community Bank and indirectly acquire Smith Associated Banking Corporation, Hot Springs, and Bank of Salem, Salem.
-Withdrawn, October 9, 2008 

Boston
SIS Bancorp, MHC, Sanford, Maine, and SIS Bancorp, Inc.  -- to become a mutual bank holding company and stock bank holding company, respectively, by acquiring Sanford Institution for Savings, Sanford.
-Approved, October 9, 2008 

St. Louis
Twin Lakes Bancshares, Inc. Flippin, Arkansas  -- to become a bank holding company by acquiring Twin Lakes Community Bank, Flippin, and Smith Associated Banking Corporation, Hot Springs, and thereby indirectly acquire Bank of Salem, Salem, immediately following the bank holding company formation.
-Withdrawn, October 6, 2008 

Secretary
Wells Fargo & Company, San Francisco, California  -- to acquire Century Bancshares, Inc., Dallas, Texas, and Century Delaware Financial Corporation, Wilmington, Delaware, and thereby indirectly acquire Century Bancshares' subsidiary bank, Century Bank, National Association, Texarkana, Texas.
-Approved, October 8, 2008 

Change In Bank Control

Atlanta
First Georgia Community Corp., Jackson, Georgia  -- change in bank control of First Georgia and its subsidiary bank, First Georgia Community Bank.
-Permitted, October 9, 2008 

Kansas City
Whitcorp Financial Company, Leoti, Kansas  -- change in bank control of Whitcorp, parent company of Western State Bank, Garden City, and First National Bank in Lamar, Lamar, Colorado.
-Permitted, October 6, 2008 

Extensions Of Time

Dallas
First Artesia Bancshares, Inc., Artesia, New Mexico  -- extension to December 6, 2008, to acquire First Financial Services, Inc., Chaparral, and to engage in lending activities.
-Granted, October 8, 2008 

Financial Holding Companies

Director, BS&R
Mitsubishi UFJ Financial Group, Inc., Tokyo, Japan; The Bank of Tokyo-Mitsubishi UFJ, Ltd.; Mitsubishi UFJ Trust and Banking Corporation; UnionBanCal Corporation, San Francisco, California  -- elections to become financial holding companies.
-Effective, October 6, 2008 

Membership

St. Louis
Liberty Bank of Arkansas, Jonesboro, Arkansas  -- to become a member of the Federal Reserve System and establish its wholly owned insurance company, Town & Country Insurance Agency, Inc., Jonesboro, as a financial subsidiary.
-Approved, October 8, 2008 

Regulations And Policies

FOMC
Federal Open Market Committee  -- minutes of the meeting held on September 16, 2008.
-Published, October 7, 2008 

FOMC
Short-term Interest Rates  -- decrease in the target for the federal funds rate from 2 percent to 1-1/2 percent.
-Approved, October 7, 2008 


Release dates | Full version (300 KB PDF)
Board Actions | Actions under delegated authority
Applications and reports received:
Boston | New York | Philadelphia | Cleveland | Richmond | Atlanta
Chicago | St. Louis | Minneapolis | Kansas City | Dallas | San Francisco