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 December 13, 2025
Bank Branches, Domestic
Minneapolis
First Interstate Bank, Billings, Montana -- to establish a branch at 5405 Grand Avenue, Billings, Montana.
Approved: December 10, 2025
Secretary
Manufacturers and Traders Trust Company, Buffalo, New York -- to establish a branch at 2976 3rd Avenue, Bronx, New York.
Approved: December 8, 2025
Bank Holding Companies
Philadelphia
Norwood Financial Corp., Honesdale, Pennsylvania -- to acquire PB Bankshares, Inc., and thereby indirectly acquire Presence Bank, both of Coatesville, Pennsylvania.
Approved: December 8, 2025
Change in Bank Control
Kansas City
Rocky Financial Corporation, Cordell, Oklahoma -- Randolph (Russ) Meacham, Jr., Clinton, Oklahoma, to acquire voting shares of Rocky Financial Corporation (Company), and thereby indirectly acquire voting shares of Bank360 (Bank), Cordell, Oklahoma. In addition, Randolph (Russ) Meacham, Jr., Ryan Meacham, Christopher Jones, and Dacia Phillips, all of Clinton, Oklahoma, and Andrew Albert, Elk City, Oklahoma, to establish a control group, a group acting in concert, to acquire voting shares of Company, and thereby indirectly acquire voting shares of Bank.
Permitted: December 8, 2025
San Francisco
Banc of California, Inc., Los Angeles, California -- WP Clipper GG 14 L.P. and WP Clipper FS II L.P., both controlled by Warburg Pincus, LLC, New York, New York, to acquire additional voting shares of Banc of California, Inc., and thereby indirectly acquire voting shares of Banc of California, Los Angeles, California.*
Withdrawn: December 4, 2025
*Addition
Regulations and Policies
Director, S&R
Regulatory Capital Rules -- notice of the 2025 aggregate global indicator amounts, as required under the Board's rule regarding risk-based capital surcharges for global systemically important bank holding companies.
Approved: December 10, 2025
General Counsel
Lending and Liquidity Facilities -- reports to Congress under section 13(3) of the Federal Reserve Act in response to COVID-19.
Approved: December 9, 2025
Secretary
Regulation M (Consumer Leasing) -- final interagency amendments to establish dollar thresholds that will apply for determining exempt consumer leases in 2026.*
Approved: December 3, 2025
*Addition
Regulation Z (Truth in Lending) -- final interagency amendments to establish dollar thresholds that will apply for determining exempt consumer credit transactions in 2026.*
Approved: December 3, 2025
*Addition
Regulation Z (Truth in Lending) -- final interagency determination of the 2026 threshold for exempting certain loans from special appraisal requirements for higher-priced mortgages.*
Approved: December 3, 2025
*Addition