Fed Issues Notice on Proposals to Acquire Nonbanking Companies

The Federal Reserve System published a notice (FR Doc No. 2026-19702, filed 9-24-26; 8:45 am) in the Federal Register (Vol. 91, No. 185, Sep. 25, 2026) announcing proposals under section 4 of the Bank Holding Company Act and Regulation Y for bank holding companies to engage de novo, acquire, or control voting securities or assets of companies engaged in permissible nonbanking activities. Unless otherwise noted, the activities will be conducted throughout the United States.

The first application, filed with the Federal Reserve Bank of Cleveland, involves Middlefork Financial Group of Hyden, Kentucky, seeking to engage in community development activities pursuant to section 225.28(b)(12) of Regulation Y. Contact is Jenni M. Frazer, Vice President, 1455 East Sixth Street, Cleveland, Ohio 44101-2566; electronic comments may be sent to the protected email address listed in the notice.

The second application, filed with the Federal Reserve Bank of San Francisco, involves JGS Jr. Family Holding Corporation of Salt Lake City, Utah, seeking to extend credit and service loans pursuant to section 225.28(b)(1) of Regulation Y. Contact is Keith Dudley, Vice President, 101 Market Street, San Francisco, California 94105-1579; electronic comments may be sent to the protected email address listed in the notice.

Comments must be submitted to the Reserve Bank indicated or to the Board of Governors, Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001, no later than October 13, 2026. Comments are subject to public disclosure and will be made available without change, except for removal of personal or business identifying information.

The public portions of the applications and related filings are available for immediate inspection at the indicated Federal Reserve Banks and the Board's offices, and may be obtained on an expedited basis through a FOIA request to the Board's Freedom of Information Office.