Regulatory Alerts2026-07-30 | Corporate Decision 1383Added
Conditional Approval of Substantial Asset Change, Capital Reduction, and Merger by American National Bank
The Office of the Comptroller of Currency conditionally approves American National Bank, Fox Cities, Appleton, WI to transfer substantially all assets and liabilities to Landmark Credit Union, reduce permanent capital by approximately $7.89 million, and merge into nonbank affiliate ANB Merger Corporation. The capital reduction is prohibited until after the asset transfer, and the merger is prohibited until all deposit accounts are closed and FDIC insurance is terminated. If the merger does not occur within seven calendar days after FDIC insurance termination, the Bank must notify the OCC and submit a wind-up plan. The approval automatically terminates if the transactions are not consummated within six months.