Formation of Bank Holding Company
Jiko Group, Inc., Berkeley, California, has applied to the Federal Reserve Board for permission to form a bank holding company with respect to Mid-Central Federal Savings Bank, Wadena, Minnesota (“Mid-Central”). Jiko Group, Inc. intends to acquire control of Mid-Central immediately following Mid-Central’s conversion to a national bank. Mid-Central has filed a separate application with the Office of the Comptroller of the Currency to convert to a national bank. The Federal Reserve considers a number of factors in deciding whether to approve the application including the record of performance of Mid-Central in helping to meet local credit needs.
You are invited to submit comments in writing on this application to the Federal Reserve Bank of San Francisco, P.O. Box 7702, San Francisco, CA 94120-7702. The comment period will not end before July 26, 2020 and may be somewhat longer. The Board’s procedures for processing applications may be found at 12 C.F.R. Part 262. Procedures for processing protested applications may be found at 12 C.F.R. 262.25. To obtain a copy of the Federal Reserve Board’s procedures, or if you need more information about how to submit your comments on the application, contact Sebastian R. Astrada, Director, Applications, at 415-974-2303. The Federal Reserve will consider your comments and any request for a public meeting or formal hearing on the application if they are received in writing by the Reserve Bank on or before the last day of the comment period.