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Fed actions, applications for the week ended April 1

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 Bank of San Francisco approved Walnut Creek, Calif.-based BayCom Corp.'s merger with Oakland, Calif.-based First ULB Corp., as well as Bay Commercial Bank's merger with United Business Bank F.S.B.

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The Federal Reserve Bank of Dallas approved the application filed by Lubbock, Texas-based Vista Bancshares Inc., BankCap Equity Fund LLC, BankCap Partners GP LP, and BankCap Partners Fund I LP to acquire through BankCap Partners Opportunity Fund LP Hamlin, Texas-based Hamlin Financial Corp. and thereby acquire control of Hamlin National Bank.

The Dallas Fed also approved Vista Bank's merger with Hamlin National Bank.

Minority investments

The Federal Reserve Bank of St. Louis approved Wynne, Ark.-based Cross County Bancshares Inc.'s application to acquire additional shares of Little Rock, Ark.-based Central Bank.

As previously reported, Cross County Bancshares seeks to own up to 24.99% of Central Bank, which is also partially owned by Lonoke Bancshares Inc. and Tyronza Bancshares Inc.

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Indiana, Pa.-based S&T Bancorp Inc. received the Federal Reserve Bank of Cleveland's approval to acquire shares of Monroeville, Pa.-based Standard Financial Corp.

As previously reported, S&T seeks to own approximately 6.5% ownership of Standard Financial.

Change in bank control

The Federal Reserve Bank of Chicago permitted the proposed change in bank control of Walnut, Ill.-based Citizens Bancshares Inc. and unit Citizens First State Bank of Walnut.

As previously reported, Steven Gerdes seeks regulatory approval to acquire 10% or more of the common stock of the company.

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Alerus Financial Employee Stock Ownership Plan filed an application with the Federal Reserve Bank of Minneapolis to increase its ownership of Alerus Financial Corp. and Alerus Financial NA to 10% or more.

Holdco formation, charter conversion

FNBMD Bancshares Inc. filed an application with the Federal Reserve Bank of Atlanta to become a bank holding company by acquiring 100% of the outstanding shares of Mount Dora, Fla.-based First National Bank of Mount Dora.

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Saint Joseph, Mich.-based Edgewater Bancorp Inc. is seeking the Chicago Fed's approval to become a bank holding company following the conversion of unit Edgewater Bank from a federal savings bank to a Michigan state chartered bank.

Fed membership

Tampa, Fla.-based HomeBanc, a unit of HomeBancorp Inc., filed an application with the Atlanta Fed to become a member of the Federal Reserve System.