Fed Probes Plans to Take Control of Gouverneur Bank
Published Date: 11/11/2025
Notice
Summary
Some folks want to buy more shares of a savings and loan company, Gouverneur Bancorp, which controls a local bank in New York. The Federal Reserve is checking their applications and wants the public to share thoughts by November 28, 2025. This process helps keep bank ownership clear and fair, with no surprises on who’s in charge or how money moves.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Proposed Change in Local Bank Control
Exploration Capital Fund, LP and related parties have applied to acquire additional voting shares of Gouverneur Bancorp, Inc., and thereby indirectly acquire voting shares of Gouverneur Savings and Loan Association, which controls GS&L Municipal Bank in Gouverneur, New York. The Federal Reserve is reviewing that proposed acquisition under the Change in Bank Control Act.
Public Access and Comment Rules
The public portions of the applications are available for inspection at the Federal Reserve Bank of Philadelphia and at the Board of Governors, and requests can be made via the Board's FOIA office. Interested persons may submit written comments (email: comments.applications@phil.frb.org) that must be received by November 28, 2025; comments are subject to public disclosure and should not include confidential information.
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