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Decisions on Bank Applications

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Equity Securities - Bank stock
Bank may indirectly through a wholly-owned subsidiay purchase the stock of a bank not listed on a national securities exchange and sell the same.

Disclaimer
The following list shows those activities and investments approved by the FDIC under Section 24 of the Federal Deposit Insurance Act and Part 362 of the FDICís Rules and Regulations, 12 C.F.R. Part 362. The list provides insured state banks and their counsel some initial guidance regarding activities and investments that the FDIC may approve under Section 24. However, the fact that a particular activity or investment has received FDIC approval in the past does not affect the obligation of another institution to seek permission from the FDIC to engage in the same or similar activity. Additionally, the fact that a particular investment or activity has been approved in the past does not restrict the FDIC's review of future requests to engage in similar activities nor our ability to impose prudential standards on the conduct of that activity. Finally, it should be borne in mind that since the time any particular application was approved, key statutory or regulatory changes may have taken place, which might impact how the issues would be treated today.

THE ROYAL PALM BANK - NAPLES, FL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 12/30/2004 $2.5M 32.2%
Application to retain subordinated debentures of other insured banks not to exceed 15% of Tier 1 Capital.


S & T BANK - INDIANA, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 9/30/2002   100%
Applicant seeks permission to invest in the stock of trust companies; bank holding companies; federal and state savings associations; and savings and loan holding companies through a proposed wholly-owned subsidiary. S&T Bank


APPLE BANK FOR SAVINGS - SCARSDALE, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 8/17/2004   15%
Application to invest through subsidiary in shares listed on national securities exchanges and registered investment companies


NORTH PENN BANK - SCRANTON, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/21/2004   15%
Application to indirectly acquire and retain equity securities in various types of financial institutions or other similar corporate entities through a wholly-owned subsidiary.


BARRETSVILLE BANK & TRUST/NEW NAME-PEOPLES BANK - BARRETVILLE, TN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 6/14/1994 $ 1.00 21.8%
Application to retain equity investments through a wholly-owned subsidiary. The proposed activity consists of retaining shares representing, 39% ownership interest in a bank and trust company. Barretville Bank & Trust Company


HARLEYSVILLE SAVINGS BANK - HARLEYSVILLE, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 5/7/2002 5.2M 15%
Applicant seeks consent to acquire and retain the outstanding stock of FDIC insured banks, savings and loan associations and their holding companies through a proposed majority owned subsidiary. Harleysville Savings Bank


APPLE BANK FOR SAVINGS - HEMPSTEAD, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 3/11/1997   15%
Application to acquire and retain stocks of Savings Associations, Savings and Loan Holding Companies and Bank Holding Companies. Apple Bank for Savings


ROCHESTER COMMUNITY SAVINGS BANK - ROCHESTER, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 2/25/1996 1M 0.32%
Application to retain indirect equity investment consisting of preferred shares of stock issued by an insured bank. The Rochester Community Savings Bank


HAMLIN BANK & TRUST CO. - SMETHPORT, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 12/23/1997   10%
Application to acquire and retain unlisted stock of insured savings associations and bank holding companies through a de novo wholly-owned subsidiary. Hamlin Bank and Trust Company


BOSTON BANK OF COMMERCE - BOSTON, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 12/1/1999 $ 1.5M 16.3%
Application to continue the purchase outstanding shares of Carver Bancorp Inc., New York, New York, a thrift holding company that owns Carver Federal Savings Bank. The Boston Bank of Commerce


PFC BANK - FORD CITY, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/26/1996 7.3M 8.73%
Application to acquire and retain listed, unlisted common and preferred shares of insured bank and bank holding company stock located in the State of Pennsylvania. PFC Bank


FIRSTRUST SAVINGS BANK - FLOURTOWN, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/25/1997 343M 25%
Application to acquire and retain indirectly through a wholly-owned subsidiary the stock of savings associations, savings and loan holding companies, banks and bank holding companies; corporations listed on a national securities exchange; and investments in limited partnerships whose principal activity is investing in equities of financially related corporations, including insurance companies, finance companies, mortgage banks, and credit card companies. Firstrust Savings Bank


FARMERS AND MERCHANTS BANK - HONESDALE, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action   $ 333,000 5.01%
Denial of application with divestiture plan for securities.




Last Updated 03/24/2011 Legal@fdic.gov