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108 Fed. Res. Bull. 1 (2022)

handle is hein.journals/fedred108 and id is 1 raw text is: - _____ - - - - w U* Board of Governors of the Federal Reserve System ww w.federalreserve.go Legal Developments: Third Quarter, 2021 Order Issued Under Bank Holding Company Act First Bank Corp. Fort Smith, Arkansas Order Approving the Acquisition of a Bank Holding Company FRB Order No. 2021-09 (July 9, 2021) First Bank Corp. (FBC), Fort Smith, Arkansas, a bank holding company within the meaning of the Bank Holding Company Act of 1956 (BHC Act),1 has requested the Board's approval under section 3 of the BHC Act2 to acquire Central Bancshares of Poteau, Inc. (CBP), a bank holding company, and thereby indirectly acquire The Central National Bank of Poteau (Central), both of Poteau, Oklahoma. Notice of the proposal, affording interested persons an opportunity to submit comments, has been published (86 Federal Register 22205 (April 27, 2021)).3 The time for submitting comments has expired, and the Board has considered the proposal and all comments received in light of the factors set forth in section 3 of the BHC Act. FBC, with consolidated assets of approximately $2.3 billion, is the 451st largest insured depository organization in the United States. FBC controls approximately $2.0 billion in consolidated deposits, which represent less than 1 percent of the total amount of deposits of insured depository institutions in the United States.4 FBC controls First National Bank of Fort Smith (First National), Fort Smith, Arkansas, which operates branches in Arkansas and Oklahoma, and Citizens Bank & Trust Company (Citizens), Van Buren, Arkansas, which operates branches in Arkansas only. First National has total assets of $1.8 billion and Citizens has total assets of $492.1 million.s First National is the 129th largest insured depository institution in Oklahoma, controlling deposits of approxi- mately $115.3 million, which represent less than 1 percent of the total deposits of insured depository institutions in that state.6 CBP, with total assets of approximately $305.7 million, is the 2471st largest insured deposi- tory organization in the United States. CBP controls approximately $280.7 million in consolidated deposits, which represent less than 1 percent of the total amount of deposits of insured depository institutions in the United States. Central operates in Oklahoma only. Central is the 83rd largest insured depository institution in Oklahoma, controlling 12 U.S.C. § 1841 et seq. 2 12 U.S.C. § 1842. 3 12 CFR 262.3(b). 4 Consolidated asset and national deposit, ranking, and market share data are as of December 31, 2020. s Total assets are as of March 31, 2021. 6 State deposit ranking and deposit data are as of June 30, 2020.

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