About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

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.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most