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Fed actions, applications for the week ended May 27

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Fed actions, applications for the week ended May 27

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, holdco formations

The Federal Reserve Bank of Atlanta approved Baton Rouge, La.-based Investar Holding Corp.'s proposed merger with Ville Platte, La.-based Citizens Bancshares Inc. and indirect acquisition of Citizens Bank Ville Platte Louisiana.

Investar Holding is the parent company of Investar Bank.

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The Federal Reserve Bank of Kansas City approved Topeka Bancorp Inc.'s application to become a bank holding company by acquiring Topeka, Kan.-based Kaw Valley Bancorp Inc. and indirectly acquire unit Kaw Valley Bank.

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The Federal Reserve Bank of St. Louis approved M1 Bancshares Inc.'s application to become a bank holding company by acquiring Macks Creek, Mo.-based Bank of Macks Creek.

Change in bank control

The Federal Reserve Bank of Chicago permitted the proposed change in bank control of Muscatine, Iowa-based Central Bancshares Inc. and unit CBI Bank & Trust.

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

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Bank Forward Employee Stock Ownership Plan and Trust filed an application with the Federal Reserve Bank of Minneapolis to acquire up to 30% of Fargo, N.D.-based Security State Bank Holding Co., and thereby indirectly gain control of Bank Forward.