The Federal Reserve System has announced that several companies have applied for approval to either become a bank holding company or acquire another bank or bank holding company under the Bank Holding Company Act of 1956 and related regulations. These applications are available for public inspection at the specified Federal Reserve Banks and the Board of Governors' offices, with comments from the public being invited. The comments must be submitted by May 14, 2025, and will be subject to public disclosure. One specific application mentioned is from Legacy Financial, Inc. of Johnson, Kansas, which seeks to acquire BancCentral, National Association in Alva, Oklahoma.
Simple Explanation
The Federal Reserve System is checking if companies can buy or join with other banks. People can look at these plans and say what they think by May 14, 2025, but everyone will see their comments. One company from Kansas wants to buy a bank in Oklahoma.