Bank Holding Company Applications Notice
Summary
The Federal Reserve published a notice of bank holding company applications received. Compass Sub Northwest, Inc. and Compass Sub North, Inc. (both of Birmingham, Alabama) have applied to become bank holding companies through acquisitions of Green Dot Corporation and CommerceOne Financial Corporation respectively. The public may submit comments on these applications through May 6, 2026.
What changed
The Federal Reserve Board published a notice of applications under the Bank Holding Company Act of 1956. Compass Sub Northwest, Inc. applied to become a bank holding company by acquiring Green Dot Corporation (and thereby Green Dot Bank, both of Provo, Utah). Compass Sub North, Inc. applied to become a bank holding company by acquiring Compass Sub Northwest, Inc. and CommerceOne Financial Corporation (and thereby CommerceOne Bank, both of Birmingham, Alabama). Compass Sub North, Inc. also applied to merge with CommerceOne Financial Corporation. These applications are filed under Regulation Y (12 CFR part 225).\n\nInterested parties may submit comments on these applications to the Federal Reserve Bank of Atlanta or the Board of Governors by May 6, 2026. Comments will be made publicly available without modification. This is a routine administrative notice with no new compliance obligations beyond the standard application process.
What to do next
- Review pending applications if your institution or affiliated entities are affected
- Submit written comments to the Federal Reserve Bank of Atlanta or Board of Governors by May 6, 2026 if you wish to express views on the applications
- Contact the Federal Reserve Bank of Atlanta for expedited access to application materials
Archived snapshot
Apr 6, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
Content
The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956
(12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other applicable statutes and regulations to become a bank holding company
and/or to acquire the assets or the ownership of, control of, or the power to vote shares of a bank or bank holding company
and all of the banks and nonbanking companies owned by the bank holding company, including the companies listed below.
The public portions of the applications listed below, as well as other related filings required by the Board, if any, are
available for immediate inspection at the Federal Reserve Bank(s) indicated below and at the offices of the Board of Governors.
This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank
and from the Board's Freedom of Information Office at https://www.federalreserve.gov/foia/request.htm. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)).
Comments received are subject to public disclosure. In general, comments received will be made available without change and
will not be modified to remove personal or business information including confidential, contact, or other identifying information.
Comments should not include any information such as confidential information that would not be appropriate for public disclosure.
Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of
Governors, Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001,
not later than May 6, 2026.
A. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically
to Applications.Comments@atl.frb.org.
Compass Sub Northwest, Inc., Birmingham, Alabama; to become a bank holding company by acquiring Green Dot Corporation, and thereby indirectly acquiring Green Dot Bank, both
of Provo, Utah. In addition, Compass Sub North, Inc., Birmingham, Alabama, to become a bank holdingcompany by acquiring Compass Sub Northwest, Inc., and by acquiring CommerceOne Financial Corporation and thereby indirectly
acquiring CommerceOne Bank, both of Birmingham, Alabama. Compass Sub Northwest, Inc., and Compass Sub North, Inc., are currently
subsidiaries of CommerceOne Financial Corporation, Birmingham, Alabama.
Finally, Compass Sub North, Inc., to merge with CommerceOne Financial Corporation.
Board of Governors of the Federal Reserve System.
Michele Taylor Fennell, Associate Secretary of the Board. [FR Doc. 2026-06644 Filed 4-3-26; 8:45 am] BILLING CODE P
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