Federal Reserve Announces Bank Share Acquisition Notices
Published Date: 4/16/2026
Notice
Summary
If you want to buy or control shares in a bank or bank holding company, you need to tell the Federal Reserve and wait for approval. People affected include anyone trying to take over or keep big bank shares. You’ve got until May 1, 2026, to send your comments, so don’t miss the deadline if you want your voice heard!
Analyzed Economic Effects
3 provisions identified: 1 benefits, 1 costs, 1 mixed.
Must notify Fed before buying bank control
If you want to buy or control voting shares of a bank or a bank holding company, you must apply under the Change in Bank Control Act and Regulation Y and wait for the Federal Reserve to act on the application. The notice process and the standards the Board uses are set out in 12 U.S.C. 1817(j) and 12 CFR 225.41.
Public comment window and disclosure rules
The public can inspect the public portions of these applications at the listed Federal Reserve Banks and at the Board of Governors, and may submit written comments. Comments must be received by May 1, 2026, and comments are subject to public disclosure and generally will be made available without change.
Named trust groups filed to control local banks
The Baugh Family Trust group applied to retain voting shares of Century Bancorp, Inc., and indirectly Century Bank & Trust, both of Milledgeville, Georgia. Separate Padgett trusts applied to form the Padgett Family Control Group to acquire voting shares of Padgett Agency, Inc., and thereby indirectly acquire The Citizens National Bank in Greenleaf, Kansas.
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Key Dates
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