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Decisions on Bank Applications

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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.

STATE BANK OF TOLEDO - TOLEDO,, IA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/24/2001 $ 333,400 5%
Application to retain and develop (through a wholly-owned subsidiary corporation) real estate parcel for commercial use. Development will consist of constructing a strip mall in phases as lessees are found. The real estate has already been acquired for purposes of constructing a future bank facility.


QUEENS COUNTY SAVINGS BANK - NY, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/1/1999 10.5M 9.40%
Bank seeks to exchange a parking lot used as bank premises, adjacent to the banks' main office, for unspecified investment property in a tax free exchange transaction. Queens County Savings Bank


AMERICAN COMMERCIAL BANK - VENTURA, CA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 3/25/1997 2.8M 8.7%
Application to continue real estate investment activities through the formation of a wholly owned subsidiary and the transfer of two real estate investment activities to that subsidiary. American Commercial Bank


ABINGTON SAVINGS BANK - ABINGTON, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/14/1995 $ 142,000 > 1%
Application to continue to engage in real estate investment activities through wholly owned subsidiary which is a 2.5% limited partner. The partnership manages a residential low income housing project. Abington Savings Bank




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