The Federal Reserve System has received applications under the Change in Bank Control Act to acquire shares of a bank or bank holding company. Specifically, the Petrie Grandchildren Trust and related entities want to retain and acquire voting shares of Merchants Bancorp and Merchants Bank of Indiana in Carmel, Indiana. The public can view and comment on these applications, but comments need to be received by April 8, 2025, and may be disclosed to the public. The Federal Reserve Bank of Chicago is handling the applications, and comments can be submitted electronically or by mail.
Simple Explanation
The Federal Reserve is looking at whether certain people, like a group called the Petrie Grandchildren Trust, can buy shares in a bank called Merchants Bank of Indiana. People can say what they think about this, as long as they do it by a specific date, but they should be careful not to share any private information they want to keep secret.