RegAlert2026-07-30 | Corporate Decision 1383Added · Updated
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.
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Chartering, Organization and Structure
Corporate Decision #1383
July 2026
July 30, 2026
Kirsten Spira, Attorney via e-mail to: kspira@boardmanclark.com Boardman & Clark LLP 1 S. Pinckney St. Suite 410 P.O. Box 927 Madison, WI 53701 Re: Substantial Asset Change, Reduction of Permanent Capital, and Merger with and into Nonbank Affiliate Applications Submitted by American National Bank, Fox Cities, Appleton, WI OCC Control Nos: 2026-5.53-345895, 2026-Capital&Div-345898, and 2026-215a3-345899 Charter No.: 22553 Dear Ms. Spira, The Office of the Comptroller of Currency (OCC) hereby conditionally approves the above referenced applications (“Applications”) submitted by American National Bank, Fox Cities, Appleton, WI (“Bank”) to (1) change the composition of its assets, (2) reduce its permanent capital, and (3) then merge into a nonbank affiliate, ANB Merger Corporation (“Merger Corp.”). These approvals are granted after a thorough evaluation of the applications, other materials supplied by the Bank’s representatives, and other information available to the OCC, including the representations and commitments made in the applications and during the application process. The OCC’s approvals are subject to the conditions set out herein.
I. The Transactions
The Applications relate to a series of transactions pursuant to which the Bank seeks to terminate its national bank charter. First, the Bank will enter into a Purchase & Assumption (P&A) transaction with Landmark Credit Union, Brookfield, WI (“Landmark”) to sell or transfer substantially all of its assets and liabilities, including its insured deposits, to Landmark. Upon consummation of the P&A transaction, the Bank will request that the Federal Deposit Insurance Corporation (FDIC) terminate its deposit insurance pursuant to 12 USC 1818(p). Concurrently, the Bank will also complete a reduction of permanent capital through the distribution of capital surplus to its shareholders. Finally, once the FDIC has terminated the Bank’s deposit insurance, the Bank will merge with and into Merger Corp., thereby terminating its national bank charter.
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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