Change in Bank Control Notices: Acquisition of Shares in Townsend Financial Corporation / Farmers Bank
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Federal Reserve System has published notices under the Change in Bank Control Act (12 U.S.C. 1817(j)) and Regulation Y (12 CFR 225.41) regarding two separate groups seeking to acquire voting shares of Townsend Financial Corporation, and thereby indirectly acquire voting shares of Farmers Bank, both located in Parsons, Tennessee. The first group consists of Nathan T. Snyder and Hallie H. Snyder of Pittsburgh, Pennsylvania, acting in concert. The second group consists of Eugene H. Bringol, Jr., and Natalee L. Young-Bringol, also of Beaver, Pennsylvania, acting in concert. Both applications are being processed through the Federal Reserve Bank of St. Louis. The public comment period is open until April 17, 2026. Interested parties may submit written comments to the Federal Reserve Bank of St. Louis or the Board of Governors in Washington, DC. Comments are subject to public disclosure and should not include confidential information. Applications and related filings are available for public inspection at the indicated Federal Reserve Bank offices and via FOIA request.
AI-generated summary. May contain errors. Refer to official sources for legal decisions.
Key Changes
- Two separate groups have filed notices to acquire voting shares of Townsend Financial Corporation (Parsons, TN) under the Change in Bank Control Act
- Group 1: Nathan T. Snyder and Hallie H. Snyder (Pittsburgh, PA) acting in concert seek indirect control of Farmers Bank
- Group 2: Eugene H. Bringol, Jr. and Natalee L. Young-Bringol (Beaver, PA) acting in concert seek indirect control of Farmers Bank
+ 3 more changes with Pro
Obligations
What this law requires
Applicants (Nathan T. Snyder, Hallie H. Snyder, Eugene H. Bringol Jr., and Natalee L. Young-Bringol) must submit applications under the Change in Bank Control Act (12 U.S.C. 1817(j)) and Regulation Y (12 CFR 225.41) to acquire voting shares of Townsend Financial Corporation
The Federal Reserve Bank of St. Louis must make public portions of applications and related filings available for immediate inspection at Federal Reserve Bank offices and Board of Governors offices
Interested persons must submit written comments regarding the acquisition applications by April 17, 2026 to either the Federal Reserve Bank of St. Louis or the Board of Governors in Washington, DC
Commenters must not include confidential information, personal business information, or other identifying information in their submitted comments, as all comments are subject to public disclosure
The Federal Reserve must evaluate applications based on the factors set forth in paragraph 7 of the Change in Bank Control Act (12 U.S.C. 1817(j)(7))