First Federal approved for membership in Federal Reserve System
First Federal Savings Bank of Iowa has been approved for membership in the Federal Reserve System, the bank’s parent company, North Central Bancshares Inc., announced yesterday.
Last month, the bank received regulatory approval from the Iowa Division of Banking to complete its conversion to a state-chartered commercial bank from a federally chartered stock savings bank, and approval from the Federal Reserve System for the parent company to reorganize from a savings and loan holding company to a bank holding company.
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