Search Results for citation:"90 FR 13487"

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Search Results: citation:"90 FR 13487"

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  • 2025-04941 — Formations of, Acquisitions by, and Mergers of Bank Holding Companies
    Type:Notice
    Citation:90 FR 13487
    Reading Time:about a minute or two

    The Federal Reserve System has announced that several companies have applied for approval to become or merge with bank holding companies under the Bank Holding Company Act of 1956. These applications are available for public viewing at the specified Federal Reserve Banks and the Board of Governors' offices. The public can submit comments on these applications until April 23, 2025, but should avoid including any confidential information. For instance, Cornerstone Bancorp, Inc. is seeking to acquire Cornerstone Capital Bank, SSB, both based in Houston, Texas.

    Simple Explanation

    The Federal Reserve System is letting people know that some companies want to join together or become banks, and everyone can check out their plans and share what they think until April 2025. For example, there's a company called Cornerstone Bancorp, Inc. that wants to take over another bank in Houston, Texas.

  • 2025-04940 — Corporation To Do Business Under Section 25A of the Federal Reserve Act
    Type:Notice
    Citation:90 FR 13487
    Reading Time:about a minute or two

    The Federal Reserve System has received applications from companies seeking approval to establish an Edge Corporation under Section 25A of the Federal Reserve Act. These applications are available for public inspection at the specified Federal Reserve Banks and on the Federal Reserve's website. Interested individuals can submit written comments on these applications, but should be aware that comments are subject to public disclosure. Comments must be submitted by April 8, 2025, either to the appropriate Reserve Bank or to the offices of the Board of Governors in Washington, DC.

    Simple Explanation

    The Federal Reserve is checking if some companies can follow special rules to do business, and everyone can read their applications online and say what they think about it. But they should be careful not to share secrets because everything they write can be seen by everyone.

  • 2025-04939 — Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
    Type:Notice
    Citation:90 FR 13487
    Reading Time:about 2 minutes

    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.