FR 2025-06482

The document from the Federal Reserve System details a notice under the Change in Bank Control Act regarding an application by certain individuals, including members of the Crouse family, to acquire shares in a bank holding company and a bank located in Basin, Wyoming. This acquisition involves the Financial Security Corporation and Security State Bank. Members of the public are invited to review the application and submit comments by May 1, 2025.

General Summary

The primary focus of the document is to inform the public about the application received by the Federal Reserve System. This application, submitted by Third Tower Holdings Limited Partnership and members of the Crouse family, seeks approval to acquire a controlling interest in Financial Security Corporation and, by extension, Security State Bank. The notice gives the public the opportunity to inspect the filings and to express any concerns or support via written comments. These comments will be openly available, emphasizing transparency throughout the process.

Significant Issues or Concerns

While the document provides basic information about the application, it lacks several important details. Firstly, it does not specify the exact number or percentage of shares that Third Tower Holdings Limited Partnership aims to acquire. This lack of specificity could make it difficult for stakeholders and the public to assess the potential impact of the acquisition. Additionally, there is no discussion about how this change in control might affect the company or the bank, leaving questions about potential changes or stability within the organization.

Furthermore, the document does not clearly outline what might happen if no comments are received by the deadline. Understanding these consequences could encourage public participation and engagement in the review process.

Another concern is the omission of an abstract in the document metadata, which could provide a quick understanding of its purpose and relevance at a glance. This absence might make it more challenging for a casual reader to grasp the document's significance.

Lastly, the document does not explore any potential conflicts of interest or benefits to the involved parties, an important consideration for maintaining transparency and trust in such a transaction.

Impact on the Public

Broadly speaking, the document is significant for the public because it represents an opportunity to engage in the regulatory process. It encourages civic participation by allowing individuals to express their viewpoints on a matter that could have broader financial implications. If the acquisition leads to changes in the bank's operations or policies, employees, customers, and the Basin, Wyoming community at large may be affected.

Impact on Specific Stakeholders

For the stakeholders directly involved, such as the Crouse family, Financial Security Corporation, and Security State Bank, the outcome of this application could have far-reaching implications. If approved, the acquisition can lead to changes in governance or strategic direction. This could potentially result in positive growth opportunities or, conversely, pose challenges if not managed effectively.

Customers and employees of Security State Bank may also experience impacts. Changes might affect customer service practices, financial products offered, or employment stability. Transparency in how these changes are communicated and implemented will be critical to ensuring a smooth transition.

Overall, while the document sets the stage for due process and public engagement, it leaves significant questions unanswered, which stakeholders should consider addressing to build public confidence and ensure informed participation in the comment process.