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

Home | News and events
Last update: April 12, 2000