Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company
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The Federal Reserve System published a notice on March 27, 2026 listing individuals and entities that have filed applications under the Change in Bank Control Act to acquire or retain voting shares of banks or bank holding companies. The specific filing is by Ismet (“Michael”) I. Sema of Miami Beach, Florida, who seeks to retain voting shares of Brighton Bancorp, Inc. and thereby indirectly retain voting shares of Brighton Bank, both located in Brighton, Tennessee. Comments on the application must be received by April 13, 2026. The notice details where applications can be inspected and the legal standards under 12 U.S.C. 1817(j)(7) that the Board will consider when acting on the application.
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Key Changes
- Public notice issued March 27, 2026 for application under 12 U.S.C. 1817(j) and 12 CFR 225.41
- Ismet (“Michael”) I. Sema applying to retain voting shares of Brighton Bancorp, Inc. and Brighton Bank
- Comments must be received no later than April 13, 2026 at the Federal Reserve Bank of St. Louis or Board of Governors
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Obligations
What this law requires
Ismet ('Michael') I. Sema must file an application under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of Regulation Y (12 CFR 225.41) to retain voting shares of Brighton Bancorp, Inc. and Brighton Bank
The Federal Reserve Board must act on the application in accordance with the standards enumerated in 12 U.S.C. 1817(j)(7)
Interested persons must submit written comments on the standards enumerated in 12 U.S.C. 1817(j)(7) no later than April 13, 2026
Comments must be received at the Federal Reserve Bank of St. Louis (Holly A. Rieser, Senior Manager, P.O. Box 442, St. Louis, Missouri 63166-2034) or the Board of Governors offices at Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington DC 20551-0001, or electronically at Comments.applications@stls.frb.org
The Federal Reserve must make public portions of applications and related filings available for immediate inspection at the appropriate Federal Reserve Bank and Board of Governors offices