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Fed roundup: Level One gets waiver of application for Ann Arbor deal

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Fed roundup: Level One gets waiver of application for Ann Arbor deal

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.

Fed roundup will halt publication during the holidays. It will next be published in January 2020.

M&A

The Federal Reserve Bank of Chicago on Dec. 13 granted Farmington Hills, Mich.-based Level One Bancorp Inc. a waiver of application to acquire Michigan-based Ann Arbor Bancorp Inc. and Ann Arbor State Bank, in connection with the merger of Ann Arbor State Bank with and into Level One Bank.

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The Federal Reserve Bank of Atlanta on Dec. 6 granted Brentwood, Tenn.-based Reliant Bancorp Inc. a waiver of application to merge with Ashland City, Tenn.-based Tennessee Community Bank Holdings Inc., and thereby acquire Community Bank & Trust, in connection with the merger of Community Bank & Trust with and into Reliant Bank.

Financial, bank holding companies

Sterling, Kan.-based Coronado Inc.'s election to become a financial holding company took effect Dec. 10.

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Linn, Mo.-based Friendship Bancshares Inc.'s election to become a financial holding company took effect Dec. 10.

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The Federal Reserve Bank of Minneapolis on Dec. 13 approved North Dakota-based Napoleon Bancorp Inc.'s proposal to merge with Forman, N.D.-based Sargent Bankshares Inc., and thereby indirectly acquire Sargent County Bank.

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The Chicago Fed on Dec. 12 approved Jefferson, Iowa-based Greene Investment Co.'s proposal to merge with Iowa-based Perry Investment Co., and indirectly acquire Raccoon Valley Bank.