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Fed roundup: Stark Bancshares gets approval to acquire Farmers Financial

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Fed roundup: Stark Bancshares gets approval to acquire Farmers Financial

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, minority investment

The Federal Reserve Bank of New York on May 14 approved the application by Pioneer Bancorp Inc. and Pioneer Bancorp MHC to become bank holding companies by acquiring Albany, N.Y.-based Pioneer Commercial Bank and Pioneer Savings Bank.

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The Federal Reserve Bank of St. Louis on May 15 approved the application by Canton, Ohio-based Stark Bancshares Inc. to become a bank holding company through the acquisition of Bolivar, Mo.-based Farmers Financial Corp., and thereby the indirect acquisition of Farmers Financial unit Farmers State Bank S/B.

Change in bank control

The Minneapolis Fed on May 17 permitted the proposed change in bank control at La Crosse, Wis.-based Bosshard Banco Ltd. and its units First National Bank of Bangor and Intercity State Bank.

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The Kansas City Fed on May 15 permitted the proposed change in bank control at Bristow, Okla.-based Spirit BankCorp Inc. and its unit SpiritBank.