Filing Exchange Act reports without a holding company

Since the Bank of the Ozarks-now known as Bank OZK-reorganized and dissolved its holding company in 2017, banks and their advisers have debated the need for a bank to have a holding company, and the advantages and disadvantages for doing so. [...]of the reorganization, Bank of the Ozarks shed its ho...

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Bibliographic Details
Published in:ABA banking journal 2022-11, Vol.114 (6), p.29-31
Main Author: McIntosh, Brittany
Format: Magazinearticle
Language:English
Subjects:
Bank holding companies
Bank management
Cost control
Proxy statements
Registration statements
Regulation of financial institutions
SEC regulations
Stock exchanges
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Summary:Since the Bank of the Ozarks-now known as Bank OZK-reorganized and dissolved its holding company in 2017, banks and their advisers have debated the need for a bank to have a holding company, and the advantages and disadvantages for doing so. [...]of the reorganization, Bank of the Ozarks shed its holding company, began trading on the Nasdaq Stock Market as the publicly traded entity, became a successor issuer of the holding company for purposes of the Securities Exchange Act of 1934, and began filing its Exchange Act reports (Form 10-K, Forms 10-Q, Forms 8-K, etc.) with the FDIC rather than the Securities and Exchange Commission. In January 2022, the FDIC said that there are 15 banks that file Exchange Act reports with the regulator. Because it is more common for the FDIC to exercise these powers, this article will only address the practical points (and certain advantages) of being a publicly traded bank that files Exchange Act reports with the FDIC.
ISSN:0194-5947
2161-5101