As Coastal Bank Bancshares Tries to Expand in Texas Disparate Loans More Secret Fed Questions

As Coastal Bank Bancshares Tries to Expand in Texas Disparate Loans More Secret Fed Questions by Matthew Russell Lee, Patreon Book Substack FEDERAL COURT, June 24 – Coastal Bend Bancshares proposes to expand in Texas by buying First National Bank in Port Lavaca.   Fair Finance Watch, after the Federal Reserve refused to act to ensure public access to Home Mortgage Disclosure Act data,  has commented to the Fed on the 2024 HMDA data:   This is early opposition to the application of Coastal Bend Bancshares, Inc., Corpus Christi, Texas to acquire First National Bank in Port Lavaca, Port Lavaca, Texas.      First National Bank of Port Lavaca in 2024 made 35 loans to whites - and NONE to African Americans.     While there are three HMDA-reporters in Texas with the name First Community Bank, Coastal Bank's, LEI 549300L4Z4LTG4TJTM66, in 2024 in Texas made 126 loans to whites, and NONE to African Americans.     Evidentiary hearings are needed on this application. There are consumer complaints, but the FRB has declared that even CFPB database complaints, no matter the volume, are not "substantive." We disagree  - and ask for a hearing on these issues as well. On June 2, the Fed asked Coastal Bend some questions - but withheld two of them. While less redacted than on Enova, it is still problematic. This while Coastal Bend CEO W. Wes. Hoskins wrote in that he takes no position on Inner City Press "purported Freedom of Information Act ('FOIA') request." Purported? On June 24 the Fed asked more sealed     questions, and Inner City Press FOIAed again: " This is an immediate FOIA request for the FRS' withheld June 24, 2026 Additional Information questions posed to Coastal Bend Bancshares to acquire the First National Bank in Port Lavaca, Texas. The FRBD's AI letter (attached) said "See Confidential Exhibit, for Questions 2-4."  No explanation of why they are being withheld in full was given. While not as extreme as the FRS' withholding of ALL questions posed to Enova in the ongoing Grasshopper Bank proceeding (which has given rise to a FOIA lawsuit mailed to the FRB on June 3, Lee v FRB, 26-cv-4556 (SDNY) - thought certificate of service has been docketed, still not even a notice of appearance by the Fed - by that same logic we are hereby challenging the withholding in full of these two questions, and ask for a ruling as quickly as possible, to allow if necessary appeal (and FOIA litigation) before any action other than denial is taken on the application." Watch this site. Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron. Feedback: Editorial [at] innercitypress.com SDNY Press Room 500 Pearl Street, NY NY 10007 USA Mail: Box 130222, Chinatown Station, NY NY 10013 Reporter's mobile (and weekends): 718-716-3540 Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.  Copyright 2006-2025 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com