2025-05-15 | Conditional Approval 1339Added · Updated
The Office of the Comptroller of the Currency conditionally approves the interstate merger of BancCentral, National Association, Alva, Oklahoma, with and into Dream First Bank, National Association, Syracuse, Kansas. The approval imposes two conditions: a two-year prohibition on declaring or paying dividends without prior written determination of no supervisory objection from the OCC, and a requirement to exclude net bargain purchase gains subject to a conditional period from capital and surplus calculations for legal lending limit purposes. The approval automatically terminates if the merger is not consummated within six months unless an extension is granted, and the effective date must follow the Department of Justice’s injunction period.
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May 15, 2025
Heather A. Eastep, Esq.
Hunton Andrews Kurth LLP
2200 Pennsylvania Avenue NW
Washington, DC 20037
Re: Application by Dream First Bank, National Association, Syracuse, Kansas to merge BancCentral, National Association, Alva, Oklahoma, with and into Dream First Bank, National Association OCC Control Number: 2025-Combination-341283 Charter Number: 8114 Dear Ms. Eastep:
The Office of the Comptroller of the Currency (OCC) hereby conditionally approves the application to merge BancCentral, National Association, Alva, Oklahoma, with and into Dream First Bank, National Association, Syracuse, Kansas. This conditional approval is granted based on a thorough review of all information available, including commitments and representations made in the application, merger agreement, and those of your representatives. The OCC reviewed the proposed merger transaction under the criteria of the Bank Merger Act, 12 USC 1828(c), and other applicable laws and regulations. We considered the financial and managerial resources of the banks, their future prospects, their effectiveness in combating money laundering activities, the convenience and needs of the communities to be served and the risk of the transaction to the stability of the United States banking or financial system. Furthermore, the OCC reviewed the Bank’s record of compliance with the Community Reinvestment Act, 12 USC 2903(a)(2). We considered these factors and found them consistent with approval. The business combination of Dream First Bank, National Association and BancCentral, National Association is legally authorized as an interstate merger transaction under the Riegle-Neal Act, 12 USC 215a-1 and 1831u(a), and the resulting bank is authorized to retain and operate offices of both banks under 12 USC 36(d) and 1831u(d)(1). This approval is subject to the following conditions:
Dream First Bank, NA – BancCentral, NA Merger
OCC Control No.: 2025-Combination-341283
Charter No.: 8114
2 to this condition shall occur at least 30 days prior to the declaration date and certify that the proposed dividend complies with applicable capital distribution requirements.
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Source: Office of the Comptroller of the Currency — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works