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 July 19, 2025
Bank Branches, Domestic
Secretary
Lake City Bank, Warsaw, Indiana -- to establish a branch at 170 Jersey Street, Westfield, Indiana.
Approved: July 18, 2025
St. Louis
Carroll Bank and Trust, Huntingdon, Tennessee -- to establish a branch at 79 Stonebridge Boulevard, Jackson, Tennessee.
Approved: July 15, 2025
Bank Holding Companies
Kansas City
Method Bancshares, Inc., Wyandotte, Oklahoma -- through its subsidiary, Method Asset Holding Company, LLC, Wyandotte, Oklahoma, to engage in lending activities pursuant to section 225.28(b)(1) of Regulation Y and acquiring debt in default pursuant to section 225.28(b)(vii) of Regulation Y.
Approved: July 18, 2025
Richmond
Optus Financial Corporation (formerly known as SCCB Financial Corporation), Columbia, South Carolina -- relief from a commitment.
Granted: July 18, 2025
Banks, State Member
Dallas
Comerica Bank, Dallas, Texas -- to make a public welfare investment.
Approved: July 17, 2025
San Francisco
East West Bank, Pasadena, California -- to make a public welfare investment.
Approved: July 18, 2025
Secretary
The Northern Trust Company, Chicago, Illinois -- to make a public welfare investment.
Approved: July 17, 2025
Change in Bank Control
New York
The Bessemer Group, Incorporated, Woodbridge, New Jersey -- Charles Frederick Oppenheim, Palm Beach, Florida; Lorna Marie Oppenheim and Caroline Emily Oppenheim, both of London, United Kingdom; and the Caroline Emily Oppenheim Revocable Trust, New Jersey, the Bessemer Trust Company, as trustee, Woodbridge, New Jersey; to join a group acting in concert to retain voting shares of The Bessemer Group, Incorporated, and thereby indirectly retain voting shares of Bessemer Trust Company, N.A., New York, New York, and the Bessemer Trust Company.
Permitted: July 15, 2025
St. Louis
Phelps County Bank Employee Stock Ownership Plan, Rolla, Missouri -- Dominic DeLuca, Peter Freiberg, and Laurie Freeman, all of St. James, Missouri; Benjamin Tipton and Jessica Beucler, both of Rolla, Missouri, as administrators of the Phelps County Bank Employee Stock Ownership Plan (ESOP), Rolla, Missouri; as a group acting in concert, to retain voting shares of ESOP and thereby indirectly retain voting shares of Phelps County Bancshares, Inc., and Phelps County Bank, both of Rolla, Missouri.
Permitted: July 14, 2025
Financial Holding Companies
Atlanta
Craft Bancshares, Inc., Atlanta, Georgia -- election to become a financial holding company.
Effective: July 15, 2025
Membership
Atlanta
Trustmark National Bank, Jackson, Mississippi -- to become a member of the Federal Reserve System.
Approved: July 15, 2025