Federal Reserve Notice on Community Bancshares of Mississippi ESOP Share Acquisition
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This notice opens public comment on an application by the Community Bancshares of Mississippi employee stock ownership plan to acquire additional voting shares in Community Bancshares of Mississippi, Inc. The plan could hold up to 19.24% of the company, indirectly increasing its stake in Community Bank of Mississippi. The practical effect is limited to this banking group, its employee ownership plan, shareholders, and regulators reviewing bank control and ownership standards. Comments are due by July 3, 2026, and submitted comments may be made public without redaction.
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Key Changes
- Opens public comment on a bank holding company ownership application
- Covers a proposed increase in voting share ownership by an employee stock ownership plan up to 19.24%
- Sets July 3, 2026 as the deadline for written comments
Obligations
What this law requires
Applicants seeking to become a bank holding company or to acquire assets, ownership, control, or voting power over shares of a bank or bank holding company must obtain approval from the Board under the Bank Holding Company Act and Regulation Y.
Interested persons submitting comments on the application must ensure comments are received by the indicated Federal Reserve Bank or the Board of Governors no later than July 3, 2026.
Commenters should not include confidential, contact, identifying, personal, or business information that would not be appropriate for public disclosure, because comments received are generally made public without change or redaction.