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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.

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


MERRIMACK COUNTY SAVINGS BANK - CONCORD, NH
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 9/20/1999 $ 79,900 0.23%
Merrimack County Savings Bank is one of three financial institutions to submit applications to retain equity investments through a wholly-owned subsidiary. The subsidiary, through two wholly owned second tier subsidiaries, are engaged in trust activities and the sale of annuities and insurance. Merrimack County Savings Bank


BANK OF KAUKAUNA - KAUKAUNA, WI
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 7/27/2000 $ 194,000 3.5%
Application to retain 100% ownership in Mullen Bender Inc., a subsidiary shell corporation, whose only assets are cash and a fully depreciated steel mold or die used to make a plastic tool frame that bends cable wire to facilitate aerial installation. The tool frame is known as the "Mullen Bender". The Bank of Kaukauna


DEDHAM INSTITUTION FOR SAVINGS - DEDHAM, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 7/12/2000 5M 6.84%
Application to invest through a proposed wholly owned subsidiary, in equity pools established by brokerage and other firms. The equity pools invest in limited partnerships that in turn invest in private equity funds with a focus on venture capital, buyouts and capital restructuring financing. Dedham Institution For Savings


NEW HAVEN SAVINGS BANK - NEW HAVEN, CT
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/9/2000 3M 0.92%
Bank seeks to purchase limited partnership interest through a de-novo, wholly-owned subsidiary. The acquisition involves the private placement of partnership interests. New Haven Savings Bank


WILMINGTON TRUST COMPANY - WILMINGTON, DE
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 10/19/2003 $ 500,000 1%
Application to invest indirectly, through a wholly owned subsidiary, in an investment management company organized as a limited liability company (LLC). The company will manage the investment of private equity funds. Wilmington Trust Company


FIRST REPUBLIC BANK - LAS VEGAS, NV
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 10/17/2000 5M 2%
Application to engage as principle through a proposed de novo wholly-owned subsidiary, in the acquisition of non-controlling amounts of venture capital investment funds and other public or private investment companies; that may invest in debt and equity securities, real estate and other assets. First Republic Bank




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