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 February 8, 2025
Bank Holding Companies
Minneapolis
Bravera Holdings Corp. (Bravera), Dickinson, North Dakota -- (1) to acquire Vision Bank Holdings, Inc., and thereby indirectly acquire VISIONBank, both of Fargo, North Dakota, and (2) for Bravera Acquisition Corp., Dickinson, North Dakota, an interim subsidiary, to merge with Vision Bank Holdings, Inc., whereby Bravera Acquisition Corp. will be the surviving entity and a wholly owned subsidiary of Bravera for a moment in time. Following the interim holding company merger, Bravera Acquisition Corp. will be merged with and into Bravera, with Bravera being the surviving entity.
Approved: February 3, 2025
Banks, State Member
Dallas
Charles Schwab Bank, SSB, Westlake, Texas -- to make a public welfare investment.
Approved: February 4, 2025
New York
Goldman Sachs Bank USA, New York, New York -- to make a public welfare investment.
Approved: February 3, 2025
Secretary
First Financial Bank, Cincinnati, Ohio -- to make a public welfare investment.
Approved: February 4, 2025
Manufacturers and Traders Trust Company, Buffalo, New York -- to make certain public welfare investments (two requests).
Approved: February 4, 2025
Change in Bank Control
Minneapolis
Clayton Bankshares, Inc., La Crosse, Wisconsin -- Dennis J. Vogel, La Crosse, Wisconsin, to join the Bosshard Family Group, a group acting in concert, to retain voting shares of Clayton Bankshares, Inc., and thereby indirectly retain voting shares of Citizens State Bank of La Crosse, La Crosse, Wisconsin.
Permitted: February 6, 2025
Philadelphia
Vecta, Inc., New York, New York -- Nicholas A. Frungillo Jr., as trustee of a to-be-formed voting trust, both of Mountainside, New Jersey, for the benefit of Mark Silber, to acquire voting shares of Vecta, Inc., and thereby indirectly acquire voting shares of Sunnyside Federal Savings and Loan Association of Irvington, Irvington, New York.
Permitted: February 5, 2025
Financial Holding Companies
Chicago
Illinois Valley Bancorp, Inc., Morris, Illinois -- election to become a financial holding company.
Effective: February 6, 2025
Regulations and Policies
General Counsel
Bank Term Funding Program -- report to Congress under section 13(3) of the Federal Reserve Act.
Approved: February 6, 2025
Lending and Liquidity Facilities -- reports to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: February 6, 2025
Supervision and Regulation
Director, S&R
Capital One Financial Corporation, McLean, Virginia -- to make certain capital distributions under the capital plan rule.
Approved: February 7, 2025