The Federal Reserve System has released a notice regarding applications submitted under the Change in Bank Control Act. These applications involve individuals and groups seeking to acquire or retain voting shares of certain banks and bank holding companies. For instance, one application involves a group in New Jersey attempting to acquire more voting shares of Bankwell Financial Group, Inc., in Connecticut. Another involves individuals in Texas looking to acquire shares of Relationship Financial Corporation and its subsidiary, Guadalupe Bank. Interested parties can review these applications and submit comments by February 14, 2025.
Simple Explanation
In a new notice, the Federal Reserve System is talking about people or groups trying to buy more pieces, or "shares," of certain banks. This is like when someone wants to own more parts of a toy shop in a new town. People can look at what is happening and tell the people in charge how they feel about it until February 14, 2025.