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Fed Roundup: Hanover Bancorp gets go-ahead for Chinatown FSB acquisition

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 on May 23 granted Mineola, N.Y.-based Hanover Bancorp Inc. a waiver of application to acquire New York-based Chinatown Federal Savings Bank in connection with the merger of Chinatown with Hanover Bancorp unit Hanover Community Bank.

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The Federal Reserve Bank of St. Louis on May 20 approved Effingham, Ill.-based Midland States Bancorp Inc.'s application to acquire Manteno, Ill.-based HomeStar Financial Group Inc. and its unit HomeStar Bank and Financial Services.

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The Federal Reserve on May 20 granted Jasper, Ind.-based German American Bancorp Inc. a waiver of application to acquire Bowling Green, Ky.-based Citizens First Corp. and its unit Citizens First Bank Inc. in connection with Citizens Bank's merger with and into German American Bancorp unit German American Bank.

Mutual conversions, restructuring, holdco formation

The Federal Reserve on May 20 granted Las Cruces, N.M.-based New Mexico First Financial Inc. a waiver of application for a corporate reorganization to change the company's state of incorporation from Delaware to New Mexico, where New Mexico First Financial's subsidiary, Western Heritage Bank, is located.