Federal Reserve Notice: A Bank Ownership Change is Proposed for Genesis Bank

You might care about this because the Federal Reserve System has published a notice about a planned change in who owns a bank. This document explains that Heath O'Brien Jenkins, from Madison, Mississippi, wants to buy shares in Genesis Bancorp, Inc. Genesis Bancorp, in turn, owns Genesis Bank. Both of these are located in Benoit, Mississippi. Federal law requires public notification when someone wants to gain control of a bank or a bank holding company. This process is put in place to keep banking activities open and fair. The notice also explains that the public can review the application documents. These documents are available at the Federal Reserve Bank in St. Louis and at the Board of Governors offices. You can also get this information faster by contacting the Federal Reserve. The main idea is to let everyone know about these changes and to allow them to share their thoughts. The Federal Reserve takes these public comments into account before making a final decision. It is important that any comments sent do not contain personal or private business information. This is because all comments received will be made public without any changes. If you want to comment on this specific proposed acquisition, you need to send your feedback by March 26, 2026. This notice is interesting because it shows how the government watches over financial institutions. It gives the public a direct way to participate in decisions that affect local banks. When someone takes over a bank, it can have effects on customers, employees, and the local community. The Federal Reserve wants to make sure that these ownership changes are good for everyone involved and that the banking system remains stable. This specific case involves a local bank in Mississippi. It highlights the transparency built into the regulatory system. It ensures that bank ownership does not suddenly change without public awareness. This open process helps keep the financial system trustworthy and accountable. It also means that new owners are carefully screened to ensure they can manage a bank responsibly. This is a regular but important part of maintaining a sound financial environment. Many different people would find this legal document interesting. If you live in or around Benoit, Mississippi, you might be very interested, especially if you are a customer of Genesis Bank. Any bank employees or shareholders of Genesis Bancorp, Inc. would also want to pay attention to this notice. People who work in the banking sector or have investments in financial institutions often follow these types of notices closely. Lawyers who specialize in banking law or corporate acquisitions will find the legal details and procedures relevant to their work. Community groups concerned about local businesses and financial services might also want to review the application and submit comments. Basically, anyone who cares about local economic stability or how financial institutions are regulated will find this information useful.