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.