Formations of, Acquisitions by, and Mergers of Bank Holding Companies
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
The Federal Reserve System has published a notice listing applications from bank holding companies seeking approval under the Bank Holding Company Act of 1956 and Regulation Y. The specific application is from The North Salem State Bancorporation of North Salem, Indiana, which seeks to acquire 13.08 percent of the voting shares of Tri-County Bancorp. and thereby indirectly acquire control of Tri-County Bank & Trust Company, both located in Roachdale, Indiana. Public portions of the applications are available for inspection at the Federal Reserve Bank of Chicago and the Board of Governors. Interested parties may submit written comments on the statutory standards by April 29, 2026. Comments will generally be made public without redaction.
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Key Changes
- North Salem State Bancorporation to acquire 13.08% voting shares of Tri-County Bancorp.
- Indirect acquisition of Tri-County Bank & Trust Company in Roachdale, Indiana
- Public comment deadline set for April 29, 2026
+ 3 more changes with Pro
Obligations
What this law requires
The North Salem State Bancorporation must obtain approval from the Federal Reserve Board before acquiring 13.08 percent of the voting shares of Tri-County Bancorp.
Interested parties must submit written comments on the statutory standards enumerated in 12 U.S.C. 1842(c) to the Federal Reserve Bank of Chicago or Board of Governors by April 29, 2026.
Comments must be submitted to the Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President, 230 South LaSalle Street, Chicago, Illinois 60690-1414) or electronically to Comments.applications@chi.frb.org, or to the Board of Governors office (Benjamin W. McDonough, Secretary, 20th Street and Constitution Avenue NW, Washington DC 20551-0001).
Commenters must not include confidential information that would not be appropriate for public disclosure, as comments will be made publicly available without redaction or modification.
The Federal Reserve Board must make public portions of the applications available for inspection at the Federal Reserve Bank of Chicago and at the offices of the Board of Governors.