Fed Reviews Bank Share Acquisition Proposals
Published Date: 1/30/2025
Notice
Summary
Some folks and groups want to buy more shares in banks or bank companies, and the Federal Reserve is checking their plans to keep things safe and fair. If you want to share your thoughts, you’ve got until February 14, 2025, to speak up. This process helps make sure big money moves in banks happen smoothly and openly.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
Public comment period and document access
The Federal Reserve is taking public comments on planned purchases of bank voting shares. You can inspect the public parts of the applications at the listed Federal Reserve Banks or request them via the Board's FOIA link, and written comments must be received by February 14, 2025; comments will be publicly disclosed, so do not include confidential information.
Proposed sale: Bankwell Financial Group (CT)
Lawrence B. Seidman and related entities have applied to acquire additional voting shares of Bankwell Financial Group, Inc., and thereby indirectly acquire voting shares of Bankwell Bank, both of New Canaan, Connecticut. The application is available for inspection at the Federal Reserve Bank of New York and is subject to public comment by February 14, 2025.
Proposed sale: Relationship Financial / Guadalupe Bank (TX)
The Charles J. Whelan, Jr. 2024 Trust (and related family members acting in concert) has applied to acquire voting shares of Relationship Financial Corporation and thereby indirectly acquire Guadalupe Bank, both of Kerrville, Texas; the group also filed to retain voting shares. The application is available for inspection at the Federal Reserve Bank of Dallas and is open for public comment until February 14, 2025.
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