101 Fed. Res. Bull. 1 (2015)

handle is hein.journals/fedred101 and id is 1 raw text is: 














Legal Developments: Fourth Quarter, 2014


Orders Issued Under Bank Holding Company Act

Orders Issued Under Section 3 of the Bank Holding Company Act

First American Bank Corporation
Elk Grove Village, Illinois

Order Approving the Acquisition of a Bank
FRB Order No. 2014 18 (November 13, 2014)

First American Bank Corporation (First American), Elk Grove Village, Illinois, has
requested the Board's approval under section 3 of the Bank Holding Company Act (BHC
Act)1 to acquire Bank of Coral Gables, Coral Gables, Florida. Immediately following the
proposed acquisition, Bank of Coral Gables would be merged into First American's sub-
sidiary bank, First American Bank, Elk Grove Village.

Notice of the proposal, affording interested persons an opportunity to submit comments,
has been published (79 Federal Register 26758 (2014)).' 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.

First American, with consolidated assets of approximately $3.4 billion, is the 234th largest
insured depository organization in the United States.4 First American controls First
American Bank, which operates only in Illinois. First American Bank is the 21st largest
insured depository institution in Illinois, controlling approximately $2.4 billion in deposits,
which represent less than 1 percent of the total deposits of insured depository institutions
in that state.5

Bank of Coral Gables, with consolidated assets of approximately $99 million, is the 4,653rd
largest insured depository organization in the United States. Bank of Coral Gables oper-
ates only in Florida. Bank of Coral Gables is the 204th largest insured depository institu-
tion in Florida, controlling approximately $92 million in deposits, which represent less than
1 percent of the total deposits of insured depository institutions in that state.




  12 U.S.C.  1842.
2 The merger of Bank of Coral Gables into First American Bank is subject to the approval of the Federal
  Deposit Insurance Corporation (FDIC) pursuant to section 18(c) of the Federal Deposit Insurance Act.
  12 U.S.C.  1828(c). The FDIC approved the bank merger on September 26, 2014.
  12 CFR 262.3(b).
4 Asset and nationwide deposit-ranking data are as of June 30, 2014, unless otherwise noted.
  State data are as of June 30, 2014, unless otherwise noted. In this context, insured depository institutions
  include commercial banks, savings associations, cooperative banks, industrial banks, and savings banks.

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