The Federal Reserve System has announced that certain individuals and trusts have submitted applications under the Change in Bank Control Act to acquire shares of specific banks or bank holding companies. The Price & Minta Ford Living Trust, with Price Ford and Minta Ford as co-trustees, from Memphis, Tennessee, aims to gain additional shares in Commercial Holding Company, Inc., and indirectly, Commercial Bank & Trust Company in Paris, Tennessee. Meanwhile, the Steve Burrage 2024 Succession Trust and the Roberta Burrage 2024 Succession Trust look to become part of the Burrage Family Control Group to acquire shares in First Antlers Bancorporation, Inc., and indirectly FirstBank in Antlers, Oklahoma. Public comments on these applications are invited until March 3, 2025.
Simple Explanation
The government is looking into some people and groups who want to buy more parts of certain banks, like owning more of the bank or company. They are asking people to tell them what they think about these plans by a certain date.