Formations of, Acquisitions by, and Mergers of Bank Holding Companies
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The Federal Reserve System has received applications from Compass Sub Northwest, Inc. and Compass Sub North, Inc., both of Birmingham, Alabama, to become bank holding companies. Compass Sub Northwest seeks to acquire Green Dot Corporation and thereby indirectly acquire Green Dot Bank of Provo, Utah. Compass Sub North seeks to acquire Compass Sub Northwest, CommerceOne Financial Corporation, and indirectly CommerceOne Bank, both of Birmingham, Alabama. The two Compass entities are currently subsidiaries of CommerceOne Financial Corporation. Compass Sub North also proposes to merge with CommerceOne Financial Corporation. Comments on these applications must be received by May 6, 2026. The public portions of the applications are available for inspection at the Federal Reserve Bank of Atlanta and the Board of Governors.
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Key Changes
- Compass Sub Northwest, Inc. to become a bank holding company by acquiring Green Dot Corporation and Green Dot Bank
- Compass Sub North, Inc. to become a bank holding company by acquiring Compass Sub Northwest and CommerceOne Financial Corporation
- Compass Sub North to merge with CommerceOne Financial Corporation
+ 3 more changes with Pro