The Federal Reserve System has received applications from various individuals and trusts to acquire or increase their control of shares in certain banks and bank holding companies. Those applying include the Gabrielse Joint Revocable Trust and others looking to hold shares in Oak Bank in Wisconsin, Thomas Marion Frazer to acquire further shares in Warren Bank and Trust in Arkansas, and members of the Spalj trusts to gain shares in Deerwood Bank in Minnesota. Interested parties have until December 23, 2024, to submit comments on these applications to the relevant Reserve Bank or the Board of Governors.
Simple Explanation
The Federal Reserve System is letting people know that some individuals and trusts want to buy or increase their shares in specific banks. If others have something to say about these plans, they can share their thoughts until December 23, 2024.