Notice2023-02901
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 10, 2023
Issuing agencies
Federal Reserve System
Full Text
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<title>Federal Register, Volume 88 Issue 28 (Friday, February 10, 2023)</title>
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[Federal Register Volume 88, Number 28 (Friday, February 10, 2023)]
[Notices]
[Page 8863]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-02901]
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FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and Mergers of Bank Holding
Companies
The companies listed in this notice have applied to the Board for
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C.
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other
applicable statutes and regulations to become a bank holding company
and/or to acquire the assets or the ownership of, control of, or the
power to vote shares of a bank or bank holding company and all of the
banks and nonbanking companies owned by the bank holding company,
including the companies listed below.
The public portions of the applications listed below, as well as
other related filings required by the Board, if any, are available for
immediate inspection at the Federal Reserve Bank(s) indicated below and
at the offices of the Board of Governors. This information may also be
obtained on an expedited basis, upon request, by contacting the
appropriate Federal Reserve Bank and from the Board's Freedom of
Information Office at <a href="https://www.federalreserve.gov/foia/request.htm">https://www.federalreserve.gov/foia/request.htm</a>.
Interested persons may express their views in writing on the standards
enumerated in the BHC Act (12 U.S.C. 1842(c)). If the proposal also
involves the acquisition of a nonbanking company, the review also
includes whether the acquisition of the nonbanking company complies
with the standards in section 4 of the BHC Act (12 U.S.C. 1843), and
interested persons may express their views in writing on the standards
enumerated in section 4. Unless otherwise noted, nonbanking activities
will be conducted throughout the United States.
Comments regarding each of these applications must be received at
the Reserve Bank indicated or the offices of the Board of Governors,
Ann E. Misback, Secretary of the Board, 20th Street and Constitution
Avenue NW, Washington, DC 20551-0001, not later than March 13, 2023.
A. Federal Reserve Bank of New York (Ivan J. Hurwitz, Head of Bank
Applications) 33 Liberty Street, New York, New York 10045-0001.
Comments can also be sent electronically to
<a href="/cdn-cgi/l/email-protection#2c4f4341414942585f024d5c5c40454f4d584543425f6c4255024a5e4e02435e4b"><span class="__cf_email__" data-cfemail="6a090507070f041e19440b1a1a0603090b1e030504192a0413440c18084405180d">[email protected]</span></a>:
1. SNBNY Holdings Limited, Gibraltar, and Safra New York
Corporation, New York, New York; to acquire Delta North Bankcorp, Inc.,
and thereby indirectly acquire Delta National Bank and Trust Company,
both of New York, New York.
B. Federal Reserve Bank of Minneapolis (Stephanie Weber, Assistant
Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291.
Comments can also be sent electronically to <a href="/cdn-cgi/l/email-protection#15585455786579663b7367773b7a6772"><span class="__cf_email__" data-cfemail="b9f4f8f9d4c9d5ca97dfcbdb97d6cbde">[email protected]</span></a>:
1. GBH Inc., Breslau, Ontario, Canada; VersaBank, London, Ontario,
Canada, and its wholly owned subsidiary, VersaHoldings US Corp.
(VersaHoldings), Wilmington, Delaware; to become bank holding companies
by acquiring Stearns Financial Services, Inc., Saint Cloud, Minnesota,
and thereby indirectly acquire Stearns Bank of Holdingford, National
Association, Holdingford, Minnesota.
In addition, GBH Inc.,VersaBank, and VersaHoldings, through
VersaFinance US Corp., London, Ontario, Canada; to engage de novo in
extending credit and servicing loans pursuant to section 225.28(b)(1)
of Regulation Y.
Board of Governors of the Federal Reserve System.
Michele Taylor Fennell,
Deputy Associate Secretary of the Board.
[FR Doc. 2023-02901 Filed 2-9-23; 8:45 am]
BILLING CODE P
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