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The Federal Reserve Board has taken action against the U.S. branch of Germany's Commerzbank for failing to comply with anti-money-laundering regulations.
October 18 -
The Federal Deposit Insurance Corp. has terminated enforcement actions against two banks: First Bancshares of Mountain Grove, Mo., and CIB Marine Bancshares of Waukesha, Wis.
March 22
First Bancshares (FBSI) in Mountain Grove, Mo., has completed its conversion from a thrift to a state-chartered bank.
The $188 million-asset First Bancshares has also been approved to become a bank holding company, according to a Monday press release. The effective date for both changes was Jan 22.
"Our conversion to a state-chartered non-member commercial bank reflects the bank's operating strategy and will also result in reduced regulatory fees," R. Bradley Weaver, the president and chief executive of First Bancshares and its bank, said in the release.
First Bancshares changed the name of its bank to First Home Bank. It previously operated under the name First Home Savings Bank. It has eight branches in Missouri.
First Bancshares was
