Search Results for citation:"89 FR 107142"

Found 2 results
Skip to main content

Search Results: citation:"89 FR 107142"

  • Type:Notice
    Citation:89 FR 107142
    Reading Time:about 2 minutes

    The Federal Reserve System has announced that individuals listed in the notice have applied to acquire shares of banks or bank holding companies under the Change in Bank Control Act. The applications are open for public inspection at the Federal Reserve Banks mentioned and the Board of Governors. Public comments on these applications, which are subject to disclosure, can be submitted until January 15, 2025. One application involves Dominik Mjartan and Georgia Miller Mjartan seeking shares in American Bancorp, Inc., while another involves the Sturm Family Control Group aiming to keep shares in Sturm Financial Group, Inc.

    Simple Explanation

    The Federal Reserve is checking if some people can buy parts of certain banks, and anyone can say what they think about this until January 15, 2025.

  • Type:Notice
    Citation:89 FR 107142
    Reading Time:about a minute or two

    The Federal Reserve System issued a notice about companies applying to become bank holding companies or acquiring control over bank-related assets under the Bank Holding Company Act of 1956. The notice mentions that the applications are available for public inspection at specified Federal Reserve Banks and on the Federal Reserve's website. Comments on these applications can be submitted by January 30, 2025. An example noted is River Run Bancorp, MHC of Newburyport, Massachusetts, which plans to merge with Rollstone Bancorp, MHC to acquire Rollstone Bank & Trust in Fitchburg, Massachusetts.

    Simple Explanation

    The big bank bosses are talking about joining forces or buying other banks, and they want to make sure everyone knows about it. People have until the end of January 2025 to say what they think about these plans.