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Fed roundup: Atlanta Fed OKs merger of Tenn.-based Commercial Bank with Ky. bank

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Fed roundup: Atlanta Fed OKs merger of Tenn.-based Commercial Bank with Ky. bank

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 Chicago on Jan. 7 approved La Crosse, Wis.-based Bosshard Financial Group Inc.'s application to merge with McFarland, Wis.-based Northern Bankshares Inc., and thereby indirectly acquire McFarland State Bank.

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The Federal Reserve Bank of Atlanta on Jan. 6 granted Harrogate, Tenn.-based Unified Shares LLC, Robertson Holding Co. LP and Commercial Bancgroup Inc. a waiver of application to acquire Kentucky-based First National London Bankshares Corp., and thereby acquire First National Bank and Trust, in connection with the merger of First National Bank and Trust with and into Commercial Bank. The banks' pending merger was also approved by the Atlanta Fed on the same day.

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The Atlanta Fed on Jan. 9 approved the application for Brentwood, Tenn.-based Reliant Bank to merge with Clarksville, Tenn.-based First Advantage Bancorp, and thereby establish branches.

Extension of time

On Jan. 10, Goldman Sachs Group Inc. was granted an extension of time to conform or divest a merchant banking investment.