The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
NEW YORK—The Federal Reserve Bank of New York Friday approved the applications by BanPonce Corporation, Hato Rey, Puerto Rico; Popular International Bank, Inc., Hato Rey, Puerto Rico; and BanPonce Financial Corp., Wilmington, Delaware (together, the "BanPonce Group"), to aquire 100 percent of the shares of National Bancorp, Inc.., Streamwood, Illinois, and its subsidiary, AmericanMidwest Bank and Trust, Melrose Park, Illinois.
The Reserve Bank also approved Friday the application by the BanPonce Group to aquire 100 percent of the shares of CBC Bancorp, LTD., Chicago, Illinois and its subsidiary Capital Bank and Trust, Chicago, Illinois and Capital Bank of Westmont, Westmont, Illinois.
According to standard procedure, the proposals cannot be completed for 15 days.
The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.