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 August 30, 2025
Bank Branches, Domestic
Kansas City
Bank7, Oklahoma City, Oklahoma -- to establish a branch at 4003 East 51st Street, Tulsa, Oklahoma, and to increase its investment in bank premises.
Approved: August 26, 2025
Bank Holding Companies
Boston
Berkshire Hills Bancorp, Inc, Boston, Massachusetts -- waiver of application to merge with Brookline Bancorp, Inc., Boston, Massachusetts, and thereby indirectly acquire Brookline Bank, Brookline, Massachusetts, in connection with the merger of Berkshire Bank, Pittsfield, Massachusetts, with and into Brookline Bank.*
Granted: August 11, 2025
*Addition
Kansas City
N.B.C. Bancshares in Pawhuska, Inc., Pawhuska, Oklahoma -- termination of a commitment.
Granted: August 29, 2025
Regent Capital Corporation, Nowata, Oklahoma -- through its subsidiary, DLP Acquisition Corporation, Tulsa, Oklahoma, to merge with DLP Bancshares, Inc., Saint Augustine, Florida, and thereby indirectly acquire DLP Bank, Starke, Florida.
Approved: August 29, 2025
Richmond
Bancshares of Carolina, Inc., Manning, South Carolina -- to become a bank holding company by acquiring The Bank of Clarendon, Manning, South Carolina.
Approved: August 25, 2025
St. Louis
Southern Illinois Bancshares, Inc., Johnston City, Illinois -- to become a bank holding company by acquiring Southern Illinois Bank, Johnston City, Illinois.
Approved: August 27, 2025
Bank Mergers
Boston
Brookline Bank, Brookline, Massachusetts -- (1) to merge with Berkshire Bank, Pittsfield, Massachusetts; Bank Rhode Island, Providence, Rhode Island; and PCSB Bank, Yorktown Heights, New York, with Brookline Bank as the resulting bank, and (2) to thereby establish branches at the locations of the main offices and branches of Berkshire Bank, Bank Rhode Island, and PCSB Bank.*
Approved: August 11, 2025
*Addition
Banks, National
Director, S&R
JPMorgan Chase Bank, N.A., Columbus, Ohio -- relief from certain commitments.*
Granted: August 22, 2025
*Addition
Change in Bank Control
Minneapolis
Scale Holding Company (Scale), Minnetonka, Minnesota -- Jeffrey T. Andersen, Chaska, Minnesota, to acquire control of voting shares of Scale Holding Company by becoming a co-trustee of the Gerald Rauenhorst 2004 Children's Trust UAD December 23, 2004, Minnetonka, Minnesota, and the Grandchildren's Fidelity Trust UAD February 24, 2015, Minnetonka, Minnesota, which controls Scale and thereby indirectly controls Scale Bank, Edina, Minnesota. Additionally, Jeffrey T. Andersen, will join the Rauenhorst Family Trust Control Group, a group acting in concert, that controls voting shares of Scale.
Permitted: August 27, 2025
Extensions of Time
Secretary
State Street Bank and Trust Company, Boston, Massachusetts -- extension of time to acquire certain assets of, and assume certain liabilities from, Mizuho Bank USA, New York, New York, pursuant to section 18(c) of the Federal Deposit Insurance Act.
Granted: August 27, 2025
Supervision and Regulation
Director, S&R
Large Bank Capital Requirements -- public disclosure of individual firms' capital requirements.
Approved: August 29, 2025
Director, S&R, and Director, Financial Stability
Stress Capital Buffer (SCB) Requirements -- notification of final SCB requirements to firms and confirmation of their final planned capital distributions.
Approved: August 29, 2025
General Counsel
Barclays US, LLC, New York, New York -- application for approval of 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 Regulation YY.*
Approved: August 19, 2025
*Addition