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 April 19, 2025
Bank Branches, Domestic
Chicago
First Farmers Bank & Trust Co., Converse, Indiana -- to establish a branch at 1511 West South Street, Lebanon, Indiana.
Approved: April 17, 2025
Bank Holding Companies
Cleveland
Northwest Bancshares Inc., Columbus, Ohio -- waiver of application to merge with Penns Woods Bancorp, Inc., and thereby indirectly acquire Jersey Shore State Bank (Jersey), Williamsport, Pennsylvania, and Luzerne Bank (Luzerne), Luzerne, Pennsylvania, in connection with the merger of Jersey and Luzerne with and into Northwest Bank, Warren, Pennsylvania.
Granted: April 18, 2025
Dallas
Yoakum National Bancshares, Inc., Yoakum, Texas -- to acquire Ganado Bancshares, Inc., and thereby indirectly acquire Citizens State Bank, both of Ganado, Texas.
Approved: April 17, 2025
General Counsel
SouthState Corporation (SouthState), Winter Haven, Florida -- waiver of application in connection with a corporate reorganization to change SouthState's state of incorporation from South Carolina to Florida.*
Granted: April 11, 2025
*Addition
Kansas City
First Fidelity Bancorp, Inc. (First Fidelity), Oklahoma City, Oklahoma -- relief from certain commitments.*
Granted: April 7, 2025
*Addition
Banks, State Member
Secretary
First Financial Bank, Cincinnati, Ohio -- to make certain public welfare investments (three requests).
Approved: April 17, 2025
Change in Bank Control
Boston
Guaranty Bancorp, Inc., Woodsville, New Hampshire -- the Charles P. Butson Living Trust and the Michele F. Butson Living Trust, Charles P. Butson and Michele F. Butson, as co-trustees of both aforementioned trusts, all of Bradenton, Florida, and others, as a group acting in concert, to retain voting shares of Guaranty Bancorp, Inc., and thereby indirectly retain voting shares of Woodsville Guaranty Savings Bank, Woodsville, New Hampshire.
Permitted: April 18, 2025
Chicago
Devon Bancorp, Inc., Chicago, Illinois -- Donna Loundy, Glenview, Illinois; Joseph Loundy, Chicago, Illinois; Daniel Loundy, Ingleside, Illinois; David Loundy, Glencoe, Illinois; Alexander Loundy, Glencoe, Illinois; Samuel Loundy, Glencoe, Illinois; Ari Loundy, Chicago, Illinois; Ronen Loundy, Kenosha, Wisconsin; Elan Loundy, Boulder, Colorado; Irving Loundy, Chicago, Illinois; and LFI Glenview, LLC, Glenview, Illinois, a group acting in concert, to retain voting shares of Devon Bancorp, Inc., and thereby indirectly retain voting shares of Devon Bank, Chicago, Illinois.
Withdrawn: April 17, 2025
Cleveland
Buckeye State Bancshares, Inc., Powell, Ohio -- Stanley Jackson, Westerville, Ohio, individually and as trustee of the Buckeye State Bank 401(k) Employee Stock Ownership Plan (ESOP), and Kevin Rahe, Perrysburg, Ohio, as trustee of the ESOP, to retain voting shares and thereby control Buckeye State Bancshares, Inc., and indirectly control Buckeye State Bank, Powell, Ohio.
Permitted: April 17, 2025
Extensions of Time
New York
Hanover Bancorp, Inc., Mineola, New York (a Maryland corporation) -- extension to July 5, 2025, to become a bank holding company by acquiring Hanover Bancorp, Inc., and thereby indirectly acquiring Hanover Community Bank, Garden City Park, New York.
Granted: April 14, 2025
Secretary
Thrivent Financial for Lutherans, Minneapolis, Minnesota -- extension of time to comply with the requirements of the Volcker Rule.
Granted: April 15, 2025
Financial Holding Companies
Atlanta
EverBank Financial Corp, Jacksonville, Florida -- election to become a financial holding company.
Effective: April 17, 2025
Supervision and Regulation
Director, S&R
Main Index -- request by Morgan Stanley for a determination regarding certain indexes for purposes of the Board's capital rule.
Granted: April 16, 2025