trending Market Intelligence /marketintelligence/en/news-insights/trending/9izoqvnp8duvqhp20rpxea2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fed roundup: Chicago Fed OKs QCR Holdings' purchase of Springfield Bancshares

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


Fed roundup: Chicago Fed OKs QCR Holdings' purchase of Springfield Bancshares

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

The Federal Reserve granted Iowa-based Ames National Corp.'s waiver of application to acquire Osceola, Iowa-based Clarke County State Bank, a unit of United Bancorp.

The deal is expected to close in the third quarter.

______________________________

The Federal Reserve Bank of St. Louis approved the application filed by St. Louis-based BancStar Inc. and Pacific BancStar Inc. to acquire by merger Missouri-based Hillsboro Bancshares Inc. and Bank of Hillsboro.

The deal is expected to close in the third quarter.

______________________________

The Fed granted Wichita, Kan.-based Colwich Financial Corp.'s waiver of application to acquire in-state peer Pratt Community Bancshares Inc.

As part of the deal, First National Bank in Pratt will merge into Legacy Bank.

______________________________

The Federal Reserve Bank of Kansas City approved the application filed by FFP Group Inc. and FFP Merger Sub Inc. to become holding companies by acquiring New Mexico-based Raton Capital Corp.

The deal is expected to close in the second quarter.

Raton Capital is the parent company of International Bank.

______________________________

Moline, Ill.-based QCR Holdings Inc. secured the Federal Reserve Bank of Chicago's approval to acquire Missouri-based Springfield Bancshares Inc. and unit Springfield First Community Bank.

The deal is expected to close in the third quarter.

______________________________

The Federal Reserve Bank of Minneapolis approved Durand, Wis.-based Security Financial Services Corp.'s application to acquire Ladysmith, Wis.-based Pioneer Acquisition Corp.

As part of the deal, Pioneer Bank of Wisconsin will merge into Security Financial Bank.

BHC formation, financial holdco election, change in control

Mountain Pacific Bancorp secured the Federal Reserve Bank of San Francisco's approval to become a bank holding company by acquiring Everett, Wash.-based Mountain Pacific Bank.

The regulator also approved Mountain Pacific Bancorp's election to become a financial holding company.

______________________________

Chattanooga, Tenn.-based PBD Holdings LLC secured the Federal Reserve Bank of Atlanta's approval to become a bank holding company by acquiring shares of Ooltewah, Tenn.-based Millennium Bancshares Inc. and Gastonia, N.C.-based AB&T Financial Corp.

______________________________

Eastern International Bancorp Inc. applied with the San Francisco Fed to become a bank holding company by acquiring 100% of Los Angeles-based Eastern International Bank.

______________________________

The Federal Reserve Bank of Kansas City permitted the proposed change in bank control of Enid, Okla.-based Security Financial Services Corp. and unit Security National Bank of Enid.

Diane Athey, a director of the company and the bank, individually and as co-trustee of several trusts had applied to acquire control of voting shares of the company.

______________________________

Investor John Dammermann applied with the Minneapolis Fed to acquire control of Minnesota-based First Bancshares Inc. of Cold Spring, and indirectly acquire control of Granite Community Bank.