Fed Eyes Massey Family's Bank Control Takeover Bid
Published Date: 4/23/2026
Notice
Summary
If you want to buy shares in a bank or bank holding company, you need to tell the Federal Reserve and wait for approval. This notice affects people or groups planning to take control of banks, like the Massey Family Group. Comments on these plans must be sent by May 8, 2026, so everyone has a chance to share their thoughts before any big money moves happen.
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Analyzed Economic Effects
4 provisions identified: 2 benefits, 1 costs, 1 mixed.
Must Notify Fed Before Buying Bank Control
If you plan to acquire control of a bank or bank holding company, you must apply under the Change in Bank Control Act and Board Regulation Y and obtain Federal Reserve approval before completing the acquisition.
Public Access to Bank Acquisition Filings
The public portions of change-in-control applications are available for immediate inspection at the listed Federal Reserve Bank(s) and at the Board of Governors, and may be requested via the Board's Freedom of Information Office.
Public Comment Period and Disclosure Rules
Interested persons may submit written comments on the applications addressing the standards in paragraph 7 of the Act; comments are subject to public disclosure and must be received by May 8, 2026, at the listed Reserve Bank or the Board (Benjamin W. McDonough, Secretary). Comments should not include confidential information.
Massey Group Seeks Control of Oklahoma Bank
The Gregory L. Massey 2026 Irrevocable Trust (Gregory L. Massey, trustee) seeks to join the Massey Family Group to acquire voting shares of Spend Life Wisely Company, Inc., and thereby indirectly acquire voting shares of First United Bank and Trust Company of Durant, Oklahoma; comments on this application are due by May 8, 2026.
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