Federal Reserve Scrutinizes Bank Merger and Formation Plans
Published Date: 1/28/2025
Notice
Summary
Some companies want to become bank holding companies or buy and merge with banks. If you’re involved with these banks or just curious, you can share your thoughts by February 27, 2025. These moves could shake up local banking, so keep an eye on approvals and changes that might affect your money or community.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 1 costs, 3 mixed.
Proposed ownership change for Lenox, GA bank
Lindsey Family Trust of Lennox, Georgia, has applied to become a bank holding company by acquiring Trust Holding Company, Inc. and The Trust Bank in Lenox, Georgia. The Federal Reserve Bank of Atlanta is accepting written comments about this application until February 27, 2025.
Proposed acquisition affecting Coralville, IA bank
Morning Sun Bank Corp., Morning Sun, Iowa, has applied to acquire First Trust and Savings Bank in Coralville, Iowa. The Federal Reserve Bank of Chicago is accepting written comments on this application until February 27, 2025.
Old National’s proposed purchase of Bremer Bank
Old National Bancorp of Evansville, Indiana, has applied to acquire Bremer Financial Corporation and thereby indirectly acquire Bremer Bank, National Association of Saint Paul, Minnesota. The Federal Reserve Bank of St. Louis is accepting written comments on this application until February 27, 2025.
Public disclosure rule for submitted comments
Comments submitted about these applications are subject to public disclosure and generally will be made available without change. The notice warns commenters not to include confidential information because contact or identifying information may be published.
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