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.
M&A, change in control, minority investment
The Federal Reserve Bank of Atlanta approved Fayetteville, Tenn.-based BOLC Corp.'s proposed merger with Hazel Green, Ala.-based North Alabama Bancshares Inc.
As part of the merger, BOLC would indirectly acquire North Alabama Bank.
BOLC is the ultimate parent of Bank of Lincoln County.
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The Federal Reserve Bank of Kansas City approved Kansas-based Wamego Bancshares Inc.'s proposed acquisition of in-state peer St. Marys State Bank
As part of the deal, St. Marys State Bank will merge into Bank of the Flint Hills, a unit of Wamego Bancshares.
St. Marys State Bank is a unit of PCI Holdings Inc.
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The Atlanta Fed approved the application filed by Community Bancshares of Mississippi Inc. Employee Stock Ownership Plan to purchase additional shares of Brandon, Miss.-based Community Bancshares of Mississippi Inc.
The ESOP previously applied to acquire an additional 0.54% of the company's voting shares to increase its ownership to 18.18%.
Community Bank of Mississippi is a unit of the company.
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Topeka, Kan.-based HYS Investments LLC secured approval from the Kansas City Fed to acquire additional shares of BOTS Inc.
As previously reported, HYS Investments applied to acquire additional voting shares up to 27.74% of BOTS.
VisionBank is a unit of BOTS.
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Chattanooga, Tenn.-based PBD Holdings LLC applied with the Federal Reserve Bank of Atlanta to become a bank holding company by acquiring outstanding shares of Gastonia, N.C.-based AB&T Financial Corp.
