Federal Reserve Release, Press Release; image with eagle logo links to home page
Release Date: April 12, 2000

For immediate release

The Federal Reserve Board today announced its approval of the following applications and notice:

SierraCities.com, Inc., Houston, Texas ("SierraCities"), and its wholly owned subsidiary, FSF of Delaware, Inc., Wilmington, Delaware (collectively "Applicants"), under section 3(a)(1) of the Bank Holding Company Act ("BHC Act") (12 U.S.C. 1842(a)(1)) to become bank holding companies by acquiring Greenbelt Bancshares, Inc. and its subsidiary bank, Security National Bank of Quanah, both of Quanah, Texas;

Applicants, under section 4(c)(8) of the BHC Act (12 U.S.C. 1843(c)(8)) to retain certain nonbanking businesses, pursuant to sections 225.28(b)(1) and (3) of Regulation Y (12 C.F.R. 225.28(b)(1), (3)); and

SierraCities, under section 4(c)(13) of the BHC Act (12 U.S.C. 1843(c)(13)) and the Board's Regulation K (12 C.F.R. 211) to retain certain foreign investments.

Attached is the Board's Order relating to this action.

Order (20 KB PDF)

2000 Orders on banking applications

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Last update: April 12, 2000