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Change in Bank Control Act Notices: Baugh Family Trust and Padgett Trust Applications

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Summary

The Federal Reserve published notices of applications under the Change in Bank Control Act for two proposed transactions. The Baugh Family Trust and related parties seek to retain voting shares of Century Bancorp Inc. and Century Bank & Trust in Milledgeville, Georgia. The Brent R. Padgett Irrevocable Trust and related parties seek to acquire voting shares of Padgett Agency Inc. and The Citizens National Bank in Greenleaf, Kansas. The public comment deadline is May 1, 2026.

What changed

The Federal Reserve published notice of two bank control applications under the Change in Bank Control Act (12 U.S.C. 1817(j)) and Regulation Y (12 CFR 225.41). The Baugh Family Trust and affiliated individuals seek to retain voting shares of Century Bancorp Inc. and Century Bank & Trust. Separately, the Brent R. Padgett Irrevocable Trust and related parties seek to acquire voting shares of Padgett Agency Inc.\n\nAffected parties include existing and prospective bank holding company shareholders who may be acting in concert. These notices inform the public of pending applications and invite comments on the statutory factors enumerated in the Act. Comments must be submitted by May 1, 2026 to the appropriate Federal Reserve Bank or the Board of Governors.

Archived snapshot

Apr 16, 2026

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Content

The notificants listed below have applied under the Change in Bank Control Act (Act) (12 U.S.C. 1817(j)) and § 225.41 of the
Board's Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank holding company. The factors that are considered
in acting on the applications are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).

The public portions of the applications listed below, as well as other related filings required by the Board, if any, are
available for immediate inspection at the Federal Reserve Bank(s) indicated below and at the offices of the Board of Governors.
This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank
and from the Board's Freedom of Information Office at https://www.federalreserve.gov/foia/request.htm. Interested persons may express their views in writing on the standards enumerated in paragraph 7 of the Act.

Comments received are subject to public disclosure. In general, comments received will be made available without change and
will not be modified to remove personal or business information including confidential, contact, or other identifying information.
Comments should not include any information such as confidential information that would not be appropriate for public disclosure.

Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of
Governors, Benjamin W. McDonough, Secretary of the Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-0001,
not later than May 1, 2026.

A. Federal Reserve Bank of Atlanta (Erien O. Terry, Assistant Vice President) 1000 Peachtree Street NE, Atlanta, Georgia 30309. Comments can also be sent electronically
to Applications.Comments@atl.frb.org:

  1. The Baugh Family Trust, Betty C. Baugh, Lawrence N. Thompson, III, Lawrence Nathaniel Thompson, IV, Patricia B. Thompson, and Lillian Alexandria Thompson Waddell, all of Milledgeville, Georgia; and Lawren Thompson Hutchinson, and Timothy Hagan Thompson, both of Atlanta, Georgia; as a group acting in concert, to retain voting shares of Century Bancorp, Inc., and indirectly retain voting shares of Century Bank & Trust, both of Milledgeville, Georgia.

B. Federal Reserve Bank of Kansas City (Jeffrey Imgarten, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001. Comments can also be sent
electronically to KCApplicationComments@kc.frb.org:

  1. Brent R. Padgett Irrevocable Trust U.T.A. dated February 27, 2026, Brent R. Padgett as trustee, both of Lawrence, Kansas; Melissa R. Padgett Irrevocable Trust U.T.A. dated February 27, 2026, Melissa R. Padgett, and Gregory Lam, as trustees, all of Lawrence, Kansas; to become members of the Padgett Family Control Group, a group acting in concert, to acquire voting shares of Padgett Agency, Inc., and thereby indirectly acquire voting shares of The Citizens National Bank, both of Greenleaf, Kansas.

Board of Governors of the Federal Reserve System.

Michele Taylor Fennell, Associate Secretary of the Board. [FR Doc. 2026-07457 Filed 4-15-26; 8:45 am] BILLING CODE 6210-01-P

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CFR references

12 CFR 225.41

Named provisions

Change in Bank Control Act Applications

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Last updated

Classification

Agency
FRS
Published
April 15th, 2026
Comment period closes
May 1st, 2026 (15 days)
Compliance deadline
May 1st, 2026 (15 days)
Instrument
Notice
Legal weight
Non-binding
Stage
Final
Change scope
Minor
Document ID
FR Doc. 2026-07457
Docket
FRS-2026-1585-0001

Who this affects

Applies to
Banks Investors
Industry sector
5221 Commercial Banking
Activity scope
Bank holding company acquisitions Voting share retention
Geographic scope
United States US

Taxonomy

Primary area
Banking
Operational domain
Compliance
Topics
Financial Services Corporate Governance

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