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Decisions on Bank Applications

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Equity Securities - Listed stock
Bank may indirectly through a wholly-owned subsidiary engage in the trading of equity securities for its own account in stock listed on a national securities exchange.

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.

ENTERPRISE BANK & TRUST - LOWELL, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/15/2005 $3.8M 6.35%
Investment in Listed Stock through a Wholly-Owned Subsidiary


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


THE EQUITY BANK - WETHERSFIELD, CT
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 7/15/1998   7%
Application to hold portfolio investment through a wholly-owned subsidiary, the stock of corporations listed on a national securities exchange, and to sell portions of the portfolio until complete divestiture.


THE SENECA FALLS SAVINGS BANK - SENECA FALLS, NY
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Delegated Authority 6/30/2004 $1,106,221 20%
Application to acquire and retain equity securities through subsidiary organized as a limited liability company. The securities will be registered or traded on a national securities exchange


INVESTORS BANK & TRUST - BOSTON, MA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 6/3/1997 $ 450,000 0.74%
Application to establish a wholly-owned subsidiary for the purpose of purchasing and selling equity securities. Investors Bank & Trust Company


BOSTON BANK OF CONNECTICUT - HARTFORD, CT
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 5/3/1995 42M 12.83%
Application to retain equity investments through a majority-owned subsidiary. Bank of Boston Connecticut


BRENTWOOD BANK - BETHEL PARK, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 5/21/2004   25%
Application to acquire and retain equity securities through subsidiary organized as a limited liability company. The securities will be registered or traded on a national securities exchange


ELDERTON STATE BANK - ELDERTON, PA
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 3/21/1995 $ 164,000 3.95%
Application to continue to acquire equity investments, limited to Pennsylvania bank and bank holding company stock through a wholly-owned subsidiary.


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


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


FIRST ALABAMA BANK - BIRMINGHAM, AL
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action 11/26/1996 12M 1.5%
Application to trade equity securities as principle and through a wholly owned securities subsidiary for the subsidiary's own account. The subsidiary, will engage in equity securities trading activities involving common stock listed on the NASDAQ Stock Market's National Market and Small Cap Market. First Alabama Bank


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


THE BANK OF WALNUT - WALNUT, MS
Application or Notice Board or Delegated Authority Date of Approval Amount of Investment Percent of Tier I Capital
Application Board Action   2.2M 14%
Denial of application by bank with a history of unsafe and unsound investment practices to invest in common or preferred stock.




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