by Matthew Russell Lee, Patreon Book Substack
FEDERAL COURT, Jan 21 – Alabama-based CB&S Bank, which has a disparate lending record in the three states it is in, has applied to the Federal Reserve and FDIC to buy a bank in Georgia, Mountain Commerce.
Fair Finance Watch has opposed it, in comments filed January 19 with the FDIC, the Federal Reserve Bank of Altanta and the Federal Reserve Board which recently allowed a $7 billion mega-merger to proceed with no Fed review. From the comment:
"This is a first timely comment opposing the proposal by CBS Banc-Corp. to acquire TAG Bancshares Inc., and thereby indirectly acquire Citizens Bank and Trust, Inc., both of Trenton, Georgia. Fair Finance Watch has been monitoring CBS Banc-Corp and its CB&S Bank and finds that in Alabama in 2024 CB&S Bank made 394 mortgage loans to whites while denying only 75 applications from whites, while making only 17 loans to African Americans and denying fully 14 applications from African Americans. This is disparate.
In Tennessee in 2024 CB&S Bank made 182 mortgage loans to whites while denying only 30 applications from whites, while making only six loans to African Americans and denying fully NINE applications from African Americans - that is, more than its loans to African Americans. This is extremely disparate - this application should be denied.
Likewise in Mississippi in 2024 CB&S Bank made 106 mortgage loans to whites while denying only 19 applications from whites, while making only 21 loans to African Americans and denying fully 16 applications from African Americans - This again is extremely disparate; the proposal should be denied to prevent these patterns from being imposed on more in Georgia.
There are extensive consumer complaints against CB&S Bank - and the focus should be on the content of the complaints, not the platform they were filed through...."
On January 21 the FDIC sent a redacted copy of CB&S' application (even the names of the "confidential" exhibits are redacted) - but the Federal Reserve System had yet to respond in any way.
Later on January 21, from the Fed: "This letter is to acknowledge receipt of your correspondence dated January 19, 2026, regarding the Subject application. A copy of any future correspondence should be sent to Applicants counsel’s email address, which is provided at the end of this letter." But there was no email, just
(Applicants’ Counsel) Robert Carothers, Jr. Partner Jones Walker, LLP 11 North Water Street, Suite 1200 Mobile, Alabama 36602
Watch this site.
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