The Federal Reserve System is reviewing applications under the Change in Bank Control Act to allow certain individuals to acquire shares in a bank or bank holding company. These applications involve members of the Fishback family and related trusts looking to retain or increase their shares in Fishback Financial Corporation and, by extension, First Bank & Trust in Brookings, South Dakota. Public comments about these applications must be submitted by January 25, 2021. Interested parties can view these applications at specified Federal Reserve Banks or contact the Board of Governors for more information.
Simple Explanation
The Federal Reserve System is checking if certain people from the Fishback family can get more shares in a bank in South Dakota, and anyone who wants to say something about it needs to do so before January 25, 2021.