The Federal Reserve cleared the trust’s acquisition of National Bancorp Holdings and its subsidiary, The Federal Savings Bank.
The Federal Reserve Board approved an application by the Stephen M. Calk 2025 Trust to become a savings and loan holding company. The move allows the trust to acquire National Bancorp Holdings, Inc., and indirectly take control of The Federal Savings Bank, both based in Chicago.
The approval follows regulatory requirements for such transactions. National Bancorp Holdings operates as the parent company of The Federal Savings Bank, a federally chartered savings association. No prior regulatory hurdles or market expectations were disclosed in the announcement.
The decision does not include immediate market reaction details.