Search Results for keywords:"bank holding companies"

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Search Results: keywords:"bank holding companies"

  • Type:Notice
    Citation:90 FR 13751
    Reading Time:about 2 minutes

    The document is a notice from the Federal Reserve System about applications made by certain companies to become bank holding companies or to merge with other financial institutions. Lake Shore, MHC in New York plans to transition from mutual to stock ownership and become a commercial bank under a new corporation named Lake Shore Bancorp, Inc. Capra Financial, Inc. in Iowa has applied to become a bank holding company by acquiring Capra Bank. Additionally, Orion Bancorporation, Inc. in Illinois seeks to merge with Mechanicsville Bancshares, Inc. to indirectly acquire Bridge Community Bank. Public comments on these applications are invited before April 25, 2025.

    Simple Explanation

    Some companies want to become big bank owners or join with other banks, and they told the government about it. The government is asking people to share their thoughts on this before April 25, 2025.

  • Type:Proposed Rule
    Citation:86 FR 6576
    Reading Time:about 21 minutes

    The Board of Governors of the Federal Reserve System has proposed a rule to change how Suspicious Activity Reports (SARs) are filed by certain financial institutions, like state member banks and bank holding companies. The rule aims to allow for exemptions from these requirements to help banks more effectively meet Bank Secrecy Act requirements, potentially leading to innovative ways to tackle financial crime. The Board will coordinate with FinCEN on exemption requests and is seeking public comments on the proposal until February 22, 2021. The proposal emphasizes that these exemptions won't relieve institutions from complying with FinCEN’s SAR regulations.

    Simple Explanation

    The Board that helps manage banks wants to change the rules so banks can try new and better ways to catch suspicious transactions, but they have to follow special guidelines and rules from another group too. They are asking people to share their thoughts by a certain date to help make these rules better.

  • Type:Notice
    Citation:89 FR 96653
    Reading Time:about a minute or two

    The Federal Reserve System has announced that certain companies have applied for approval to become bank holding companies or to acquire ownership of existing banks or bank holding companies. Interested individuals can review these applications at Federal Reserve Banks or the Board of Governors' office and may submit comments on the applications by January 6, 2025. One specific transaction mentioned involves Atlantic Union Bankshares Corporation seeking to acquire Sandy Spring Bancorp, Inc., and its subsidiary, Sandy Spring Bank. Comments on these proposals are subject to public disclosure and should not include confidential information.

    Simple Explanation

    Some companies want to become part of a big bank family or buy other banks, and the people in charge say you can look at their plans and say what you think about them until January 6, 2025. Atlantic Union wants to buy a bank named Sandy Spring, and everyone can share their thoughts, but they need to remember that what they say will be visible to everyone.

  • Type:Notice
    Citation:86 FR 7092
    Reading Time:about a minute or two

    The Federal Reserve System announced that several companies have applied for approval to become bank holding companies or to acquire control of banks or other bank holding companies, as per the Bank Holding Company Act of 1956. These applications, including one from St. Laurent Investments LLC to acquire People's Bank of Commerce in Oregon, are available for public inspection. Interested individuals can submit their comments by February 25, 2021. The applications can be reviewed at the respective Federal Reserve Banks and online for those seeking more information.

    Simple Explanation

    Some companies want to be in charge of banks or join up with other banks, and they asked for permission to do this. People can look at these requests and tell what they think until February 25, 2021.

  • Type:Notice
    Citation:90 FR 7696
    Reading Time:about a minute or two

    The Federal Reserve System has published a notice regarding applications by companies seeking approval to become bank holding companies or to acquire assets or shares of banks or bank holding companies. These applications are based on the Bank Holding Company Act of 1956 and other relevant regulations. Members of the public can access the application details and share their written feedback before February 21, 2025. Specifically, United Community Banks, Inc., based in Greenville, South Carolina, proposes to acquire ANB Holdings, Inc., and American National Bank in Oakland Park, Florida.

    Simple Explanation

    The Federal Reserve is telling people about a plan where one big bank wants to buy another bank, and anyone can say what they think about it before February 21, 2025.

  • Type:Notice
    Citation:90 FR 8936
    Reading Time:about 2 minutes

    The Federal Reserve System has received applications from companies interested in forming bank holding companies or acquiring banks. Interested parties can view these applications at the specific Federal Reserve Banks listed and the Board of Governors' offices. Public comments on the applications can be submitted until March 6, 2025. Notably, Independent Bank Corp. from Massachusetts aims to acquire Enterprise Bancorp, Inc., while Community Bank Holdings of Texas, Inc. seeks to take over CapTex Bancshares, Inc.

    Simple Explanation

    The Federal Reserve is checking if some companies can buy or start banks, and people have until March 6, 2025, to say what they think about it. But if they share their thoughts, everyone might get to see them, which could make some people shy about sharing.

  • Type:Notice
    Citation:90 FR 10826
    Reading Time:about a minute or two

    The Federal Reserve System has received applications from companies that want to become bank holding companies or acquire control over existing banks or bank holding companies. Interested people can review these applications and submit comments. Comments should be submitted by March 13, 2025, and any information included in them will be publicly accessible. One specific application is from Yoakum National Bancshares, Inc., aiming to acquire Ganado Bancshares, Inc., and thereby gain control over Citizens State Bank in Texas.

    Simple Explanation

    The Federal Reserve is looking at requests from companies that want to own banks. People can say what they think about these requests until March 13, 2025, but their name and details will be shared with everyone.

  • Type:Notice
    Citation:90 FR 3213
    Reading Time:about 3 minutes

    The Federal Reserve System announced a notice regarding applications for approval to form or acquire bank holding companies. The applications are in accordance with the Bank Holding Company Act of 1956 and related regulations. This notice lists UIR Acceptance Corporation, based in Lemont, Illinois, applying to become a bank holding company by acquiring Easton Bancshares, Inc., and Community Bank of Easton, both located in Easton, Illinois. The public can view these applications and submit comments to the responsible Federal Reserve Bank or the Board of Governors.

    Simple Explanation

    The Federal Reserve System is sharing news about a company called UIR Acceptance Corporation wanting to buy another bank company. People can see these plans and tell the Federal Reserve what they think, but they should know their comments will be shared publicly.

  • Type:Notice
    Citation:89 FR 105048
    Reading Time:about a minute or two

    The Federal Reserve System has released a notice regarding companies that have applied to become bank holding companies or to acquire control over banks or other bank holding companies. These applications are being processed under the Bank Holding Company Act. People can view the public parts of these applications at certain Federal Reserve Banks and the Board of Governors' offices, or request them online. The public can submit comments on these applications until January 27, 2025, but should avoid including confidential information in their submissions.

    Simple Explanation

    The Federal Reserve is letting everyone know that some companies want to become owners of banks, and they are asking people to share their thoughts about this until January 27, 2025. You can look at these requests online, but be careful not to share any secrets when you tell them what you think.

  • Type:Notice
    Citation:86 FR 539
    Reading Time:about 2 minutes

    The Federal Reserve System has received applications under the Change in Bank Control Act to acquire shares in banks or bank holding companies. These applications are being reviewed based on specified factors from the Act. Public information about these applications can be accessed at Federal Reserve Banks and the Board of Governors' offices or requested online. Comments from the public are welcomed, provided they are submitted by January 21, 2021, to the appropriate authorities.

    Simple Explanation

    The Federal Reserve System wants to know what people think about some people trying to buy big parts of banks. They are listening to everyone's ideas and thoughts until January 21, 2021, to help them decide if these people should be allowed to do it.

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