Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 62135 [2016-21597]
Download as PDF
<![CDATA[
mstockstill on DSK3G9T082PROD with NOTICES
Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices
and disclose extraordinary events and
transactions. An event or transaction is
presumed to be an ordinary and usual
activity of the reporting entity unless
evidence clearly supports its
classification as an extraordinary item.
ASU 2015–01 is effective for fiscal
years, and interim periods within those
fiscal years, beginning after December
15, 2015. Thus, for example, holding
companies with a calendar year fiscal
year must begin to apply the ASU in
their FR Y–9C for March 31, 2016.6
After a holding company adopts ASU
2015–01, any event or transaction that
would have met the criteria for
extraordinary classification before the
adoption of the ASU should be reported
in Schedule HI, item 5(l), ‘‘Other
noninterest income,’’ or item 7(d),
‘‘Other noninterest expense,’’ as
appropriate, unless the event or
transaction would otherwise be
reportable in another item of Schedule
HI.
Consistent with the elimination of the
concept of extraordinary items in ASU
2015–01, the Federal Reserve proposed
to revise the instructions for Schedule
HI, item 11, and remove the term
‘‘extraordinary items’’ and revise the
captions for Schedule HI, item 8,
‘‘Income (loss) before income taxes and
extraordinary items and other
adjustments,’’ item 10, ‘‘Income (loss)
before extraordinary items and other
adjustments’’ and item 11,
‘‘Extraordinary items and other
adjustment, net of income taxes
effective March 31, 2016. After the
concept of extraordinary items has been
eliminated and such items would no
longer be reportable in Schedule HI,
item 11, only the results of discontinued
operations would be reportable in item
11. Accordingly, effective March 31,
2016, the revised captions for Schedule
HI, items 8, 10 and 11 would become
‘‘Income (loss) before income taxes and
discontinued operations,’’ ‘‘Income
(loss) before discontinued operations,’’
and ‘‘discontinued operations, net of
applicable income taxes’’ respectively.
The captions for Schedule HI,
memorandum items 2 and 8, and items
8 and 11 on the Predecessor Financial
Items and applicable Glossary
references would also be revised to
eliminate the concept of extraordinary
items.
No comments were received on the
planned changes related to
extraordinary items. Accordingly,
effective September 30, 2016, the
captions for Schedule HI, items 8, 10,
6 Early adoption of ASU 2015–01 is permitted
provided that the guidance is applied from the
beginning of the fiscal year of adoption.
VerDate Sep<11>2014
19:34 Sep 07, 2016
Jkt 238001
and 11, would be revised to say
‘‘Income (loss) before income taxes and
discontinued operations,’’ ‘‘Income
(loss) before discontinued operations,’’
and ‘‘Discontinued operations, net of
applicable income taxes,’’ respectively.
Similarly, the captions for Schedule HI,
memorandum items 2 and 8, and items
8 and 11 on the Predecessor Financial
Items and applicable Glossary
references would also be revised to
eliminate the concept of extraordinary
items.
Additional Comments
One commenter requested
clarification on why the proposed
change to the Call Report regarding
trading revenues due to changes in
credit and debit valuation adjustments
was not proposed on the FR Y–9C
report. The Federal Reserve reviewed
this information and determined that
the proposed changes are not necessary
for the FR Y–9C and that the current
information is adequate to meet the
Federal Reserve’s supervisory needs.
Board of Governors of the Federal Reserve
System, September 1, 2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016–21524 Filed 9–7–16; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies
The companies listed in this notice
have applied to the Board for approval,
pursuant to the Bank Holding Company
Act of 1956 (12 U.S.C. 1841 et seq.)
(BHC Act), Regulation Y (12 CFR part
225), and all other applicable statutes
and regulations to become a bank
holding company and/or to acquire the
assets or the ownership of, control of, or
the power to vote shares of a bank or
bank holding company and all of the
banks and nonbanking companies
owned by the bank holding company,
including the companies listed below.
The applications listed below, as well
as other related filings required by the
Board, are available for immediate
inspection at the Federal Reserve Bank
indicated. The applications will also be
available for inspection at the offices of
the Board of Governors. Interested
persons may express their views in
writing on the standards enumerated in
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of
a nonbanking company, the review also
includes whether the acquisition of the
nonbanking company complies with the
standards in section 4 of the BHC Act
PO 00000
Frm 00064
Fmt 4703
Sfmt 4703
62135
(12 U.S.C. 1843). Unless otherwise
noted, nonbanking activities will be
conducted throughout the United States.
Unless otherwise noted, comments
regarding each of these applications
must be received at the Reserve Bank
indicated or the offices of the Board of
Governors not later than October 3,
2016.
A. Federal Reserve Bank of Dallas
(Robert L. Triplett III, Senior Vice
President) 2200 North Pearl Street,
Dallas, Texas 75201–2272:
1. Greater State Bancshares Corp.,
McAllen, Texas, to become a bank
holding company through the
acquisition of Greater State Bank,
Falfurrias, Texas.
Board of Governors of the Federal Reserve
System, September 2, 2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016–21597 Filed 9–7–16; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Formations of, Acquisitions by, and
Mergers of Bank Holding Companies;
Correction
This notice corrects a notice (FR Doc.
2016–21009) published on pages 60354
of the issue for Thursday, September 1,
2016.
Under the Federal Reserve Bank of
Chicago heading, the entry for The
Stephen L. LaFrance, Jr. GW
Investments Trust, the Jason P.
LaFrance GW Investments Trust, the
Amy Beth LaFrance GW Investments
Trust, all of Little Rock, Arkansas,
Stephen L. LaFrance, Jr., Little Rock,
Arkansas, as trustee of the Stephen L.
LaFrance, Jr. GW Investments Trust and
co-trustee of the Jason P. LaFrance GW
Investments Trust, and Jason P.
LaFrance, Little Rock, Arkansas, as cotrustee of the Jason P. LaFrance GW
Investments Trust and as trustee of the
Amy Beth LaFrance GW Investments
Trust and the Amy LaFrance Bancroft
GW Investments Revocable Trust, Little
Rock, Arkansas is revised to read as
follows:
A. Federal Reserve Bank of Chicago
(Colette A. Fried, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690–1414:
1. The Stephen L. LaFrance, Jr. GW
Investments Trust, the Jason P.
LaFrance GW Investments Trust, the
Amy Beth LaFrance GW Investments
Trust, all of Little Rock, Arkansas,
Stephen L. LaFrance, Jr., Little Rock,
Arkansas, as trustee of the Stephen L.
LaFrance, Jr. GW Investments Trust and
E:\FR\FM\08SEN1.SGM
08SEN1
]]>Agencies
[Federal Register Volume 81, Number 174 (Thursday, September 8, 2016)]
[Notices]
[Page 62135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-21597]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and Mergers of Bank Holding
Companies
The companies listed in this notice have applied to the Board for
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C.
1841 et seq.) (BHC Act), Regulation Y (12 CFR part 225), and all other
applicable statutes and regulations to become a bank holding company
and/or to acquire the assets or the ownership of, control of, or the
power to vote shares of a bank or bank holding company and all of the
banks and nonbanking companies owned by the bank holding company,
including the companies listed below.
The applications listed below, as well as other related filings
required by the Board, are available for immediate inspection at the
Federal Reserve Bank indicated. The applications will also be available
for inspection at the offices of the Board of Governors. Interested
persons may express their views in writing on the standards enumerated
in the BHC Act (12 U.S.C. 1842(c)). If the proposal also involves the
acquisition of a nonbanking company, the review also includes whether
the acquisition of the nonbanking company complies with the standards
in section 4 of the BHC Act (12 U.S.C. 1843). Unless otherwise noted,
nonbanking activities will be conducted throughout the United States.
Unless otherwise noted, comments regarding each of these
applications must be received at the Reserve Bank indicated or the
offices of the Board of Governors not later than October 3, 2016.
A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior
Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
1. Greater State Bancshares Corp., McAllen, Texas, to become a bank
holding company through the acquisition of Greater State Bank,
Falfurrias, Texas.
Board of Governors of the Federal Reserve System, September 2,
2016.
Robert deV. Frierson,
Secretary of the Board.
[FR Doc. 2016-21597 Filed 9-7-16; 8:45 am]
BILLING CODE 6210-01-P
