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Decisions on Bank Applications

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Equity Securities - Bank holding company stock
Bank may indirectly through a wholly-owned subsidiary purchase the stock of a bank holding company 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.

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


INSTITUTION FOR SAVINGS IN NEWBURY PORT AND VICIN. - NEWBURYPORT, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 8/10/1999 $ 761,000 1.7%
Application by bank to retain stock of bank holding companies through a wholly-owned subsidiary. The bank has held stock for over a decade and one holding dates back to the early 1900's. Institution For Savings in Newburyport and its Vicinity


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.


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


NORTHWEST SAVINGS BANK - WARREN, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 4/9/1996   11.11%
Application to retain equity investments consisting of common and preferred shares of unlisted bank holding company stock located in the State of Pennsylvania. Northwest 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


PEOPLE'S BANK - BRIDGEPORT, CT
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 2/12/2001 $ 250,000 0.03%
Application to invest through a wholly-owned subsidiary, in shares of the common stock of a Delaware incorporated bank holding company. People's Bank


FIRST CITIZENS STATE BANK OF WHITEWATER - WHITEWATER, WI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 12/3/1996 $ 249,500 5%
Application to invest through a wholly-owned subsidiary, in unlisted bank holding company stock. The First Citizens State Bank of Whitewater, Wisconsin


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


FIRST SAVINGS BANK OF PERKASIE, PA - PERKASIE, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/9/1999   10.27%
Application to acquire and retain indirectly through a wholly-owned subsidiary the stock of banks, bank holding companies, and other corporations listed on a national securities exchange, and the shares of registered investment companies. First Savings Bank of Perkasie


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


BRIGHTON BANCORP - BRIGHTON, TN
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 10/13/1995 $ 100,000 4.82%
Application to retain equity investments through a wholly-owned subsidiary, in an unaffiliated bank holding company. Brighton Bank




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