Fed roundup: ODNB Financial gets approval to become bank holding company

S&P Global Market Intelligence presents a weekly roundup of notable actions of the Federal Reserve, as well as applications and reports received from banks, thrifts and credit unions. This feature excludes branch news and news previously covered by S&P Global Market Intelligence.

Bank holding company

The Federal Reserve Bank of Richmond on May 2 approved an application by Tysons Corner, Va.-based ODNB Financial Corp. to become a bank holding company through the acquisition of North Garden, Va.-based Old Dominion National Bank.

Savings and loan holding company

During the week ended May 7, the Minneapolis Fed received Medford, Wis.-based Prevail Mutual Holdings Inc.'s application to become a mutual savings and loan holding company in relation to the reorganization of Prevail Bank to a federal stock savings bank from a federal mutual savings bank.