Federal Reserve Reviews Wooldridge Family Bank Ownership

You might care about this because the Federal Reserve System has published a notice about a change in bank ownership. This notice specifically concerns the Wooldridge Family Group. They have applied under the Change in Bank Control Act to retain voting shares of Reeves Bancshares, Inc. This company is based in Gould, Oklahoma. Through Reeves Bancshares, the family group would also indirectly retain voting shares of Cattlemens Bank, which is located in Altus, Oklahoma. The Federal Reserve reviews these types of applications carefully. They consider specific factors outlined in the Act when making a decision. The public has a chance to share their thoughts. Anyone interested can submit comments in writing by June 12, 2026. These comments help the Federal Reserve understand different perspectives before deciding on the application. This process ensures transparency in how banks are owned and controlled. What makes this particular notice interesting is its focus on the retention of shares by a family group. Often, these notices are about new acquisitions. Here, Raymond Wooldridge had previously received permission to acquire shares of Reeves individually. Now, the Wooldridge Family Group, including the Wooldridge 1996 Irrevocable Trust and several family members, wants to formally retain these shares as a collective group. This suggests a potential restructuring of how the family holds its ownership in the bank holding company. It highlights how the Federal Reserve oversees even the internal changes in ownership structures within established groups. The public comment period is a key part of this process. It lets anyone voice concerns or support regarding who controls banking institutions, ensuring that such control aligns with public interest and regulatory standards. Several groups would find this legal document especially relevant. First, anyone involved in the banking industry, particularly bank executives and investors, would want to understand how the Federal Reserve handles ownership changes. Legal professionals specializing in banking law, trusts, and corporate governance would also find this case instructive. Individuals and businesses in Gould and Altus, Oklahoma, where Reeves Bancshares and Cattlemens Bank operate, might be interested. They may have a direct stake in the stability and ownership of their local financial institutions. Finally, families with significant business interests or complex trust arrangements might learn from how the Wooldridge Family Group is managing its ownership and navigating regulatory requirements.