The Federal Reserve System has announced that several individuals have applied to acquire shares in banks or bank holding companies under the Change in Bank Control Act. These applications are open for public viewing and can be accessed at the Federal Reserve Bank offices or online. People who are interested can submit their written comments about the applications by January 29, 2021. Specifically, John Morrow of Albion, Nebraska, plans to join a family group to retain voting shares of Cedar Rapids State Company and, by extension, Cedar Rapids State Bank in Nebraska.
Simple Explanation
The document talks about some people who want to buy parts of a bank, and anyone can look at their plans and say what they think about it until January 29, 2021. But it's a bit tricky to know exactly how to do that or where to go to see these plans and share their thoughts.