Search Results for keywords:"mergers and acquisitions"

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.

The Federal Reserve System has announced an extension of the comment period for an application involving the formation or acquisition of bank holding companies. The application in question concerns First Citizens BancShares, Inc., located in Raleigh, North Carolina, acquiring CIT Group, Inc., based in New York, New York. The public is invited to express their views in writing about this application, with the new deadline for submissions set for February 22, 2021. The information is accessible for review at the Federal Reserve Bank of Richmond and through specified online resources.

The Federal Trade Commission (FTC) has announced updated thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976. These thresholds determine when companies must notify the FTC and the Assistant Attorney General about mergers or acquisitions and wait before finalizing the deal. The revisions are made annually based on changes in the gross national product. While the notification thresholds are adjusted, the fees associated with filing these notifications have not been updated for inflation in over ten years.

The Federal Trade Commission has announced updated thresholds for the Hart-Scott-Rodino Antitrust Improvements Act of 1976. These changes are required by updates in section 7A of the Clayton Act and the 2023 Consolidated Appropriations Act. The revised thresholds pertain to both the jurisdictional limits for mergers or acquisitions and the required filing fees. These updates will take effect 30 days after their publication in the Federal Register.

The Internal Revenue Service (IRS) is asking for public feedback on its information collection methods to help reduce paperwork and respondent burden, as outlined in the Paperwork Reduction Act of 1995. Specifically, the IRS is looking at procedures for combined information reporting by successor business entities after mergers or acquisitions. They are seeking comments on whether the collection is necessary, its accuracy, quality, utility, and ways to reduce burden on respondents. Feedback is welcomed until March 24, 2025, and the current information collection is set to continue without changes.

The Federal Trade Commission (FTC) announced the approval of early termination requests for the waiting period required under the Premerger Notification Rules. This notice, as documented under the reference number 2021-03184, allows certain mergers and acquisitions to proceed without waiting the full time typically required by law. The decision was filed on February 17, 2021, and further details can be obtained by contacting Theresa Kingsberry at the FTC Premerger Notification Office.

The Federal Reserve System has received applications from certain companies seeking approval to become bank holding companies or to acquire control of banks or other bank holding companies. These applications are filed under the Bank Holding Company Act of 1956 and other relevant regulations. Interested individuals can inspect the applications at the relevant Reserve Banks or the Board of Governors and submit comments until April 4, 2025. One specific application involves Battle Financial, Inc. from Edwards, Colorado, which seeks to acquire Stearns Bank of Upsala, National Association in Minnesota.