Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities, 68048-68049 [E5-6175]
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68048
Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices
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 application also will 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.
Additional information on all bank
holding companies may be obtained
from the National Information Center
Web site at https://www.ffiec.gov/nic/.
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 December 5,
2005.
A. Federal Reserve Bank of Cleveland
(Cindy West, Manager) 1455 East Sixth
Street, Cleveland, Ohio 44101-2566:
1. Whitaker Bank Corporation of
Kentucky, Lexington, Kentucky; to
acquire 100 percent of the voting shares
of Berea Community Bank, Inc., Berea,
Kentucky (currently known as Berea
National Bank, Berea, Kentucky).
B. Federal Reserve Bank of Chicago
(Patrick M. Wilder, Assistant Vice
President) 230 South LaSalle Street,
Chicago, Illinois 60690-1414:
1. First Citizens Financial Corp.,
Mason City, Iowa; to acquire 100
percent of the voting shares of Kanabec
Credit Company, Mora, Minnesota, and
thereby indirectly acquire Kanabec State
Bank, Mora, Minnesota.
C. Federal Reserve Bank of
Minneapolis (Jacqueline G. King,
Community Affairs Officer) 90
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Hennepin Avenue, Minneapolis,
Minnesota 55480-0291:
1. First Sleepy Eye Bancorporation,
Inc., Sioux Falls, South Dakota; to
acquire 100 percent of the voting shares
of Stearns Bank, Evansville, N.A.,
Evansville, Minnesota.
Board of Governors of the Federal Reserve
System, November 3, 2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E5–6172 Filed 11–8–05; 8:45 am]
BILLING CODE 6210–01–S
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 application also will 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.
Additional information on all bank
holding companies may be obtained
from the National Information Center
website at https://www.ffiec.gov/nic/.
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 December 5,
2005.
A. Federal Reserve Bank of Dallas
(W. Arthur Tribble, Vice President) 2200
North Pearl Street, Dallas, Texas 752012272:
1. Patriot Bancshares, Inc., Houston,
Texas; to become a bank holding
company by acquiring 100 percent of
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the voting shares of Patriot Bank,
Houston, Texas.
B. Federal Reserve Bank of San
Francisco (Tracy Basinger, Director,
Regional and Community Bank Group)
101 Market Street, San Francisco,
California 94105-1579:
1. Ruh Capital, LLC; Eggemeyer
Family Trust; William J. Ruh Trust;
Western States Opportunity LLC;
Eggemeyer Capital LLC; and Castle
Creek Capital III, LLC, all of Rancho
Santa Fe, California; to become bank
holding companies by acquiring 100
percent of the voting shares of LDF, Inc.,
and thereby acquire Labe Bank, both of
Chicago, Illinois.
Board of Governors of the Federal Reserve
System, November 4, 2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E5–6174 Filed 11–8–05; 8:45 am]
BILLING CODE 6210–01–S
FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in
Permissible Nonbanking Activities or
to Acquire Companies that are
Engaged in Permissible Nonbanking
Activities
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y (12
CFR part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
otherwise noted, these activities will be
conducted throughout the United States.
Each notice is available for inspection
at the Federal Reserve Bank indicated.
The notice also will be available for
inspection at the offices of the Board of
Governors. Interested persons may
express their views in writing on the
question whether the proposal complies
with the standards of section 4 of the
BHC Act. Additional information on all
bank holding companies may be
obtained from the National Information
Center Web site at https://www.ffiec.gov/
nic/.
Unless otherwise noted, comments
regarding the applications must be
received at the Reserve Bank indicated
or the offices of the Board of Governors
not later than December 5, 2005.
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68049
Federal Register / Vol. 70, No. 216 / Wednesday, November 9, 2005 / Notices
A. Federal Reserve Bank of San
Francisco (Tracy Basinger, Director,
Regional and Community Bank Group)
101 Market Street, San Francisco,
California 94105-1579:
1. Ruh Capital, LLC; Eggemeyer
Family Trust; William J. Ruh Trust;
Castle Creek Capital Partners III, L.P.;
Western States Opportunity LLC;
Eggemeyer Capital LLC; and Castle
Creek Capital III, LLC, all of Rancho
Santa Fe, California; to acquire shares of
Atlanta Bancorporation, Inc.,
Alpharetta, Georgia, and indirectly
acquire Gibsonville Community Bank,
Gibsonville, North Carolina, and thereby
engage in operating a state savings bank,
pursuant to section 225.25(b)(4)(ii) of
Regulation Y.
Board of Governors of the Federal Reserve
System, November 4, 2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc.E5–6175 Filed 11–8–05; 8:45 am]
BILLING CODE 6210–01–S
FEDERAL RESERVE SYSTEM
[Docket No. OP–1241]
Federal Reserve Bank Services
Board of Governors of the
Federal Reserve System.
ACTION: Notice.
AGENCY:
SUMMARY: The Board has approved the
2006 fee schedules for Federal Reserve
priced services and electronic access
and a private-sector adjustment factor
(PSAF) for 2006 of $117.7 million.
These actions were taken in accordance
with the requirements of the Monetary
Control Act of 1980, which requires
that, over the long run, fees for Federal
Reserve priced services be established
on the basis of all direct and indirect
costs, including the PSAF. The Board
has also approved maintaining the
current earnings credit rate on clearing
balances.
DATES: The new fee schedules become
effective January 3, 2006, except the
FedLine Select electronic connection
fees, which become effective April 1,
2006.
FOR FURTHER INFORMATION CONTACT: For
questions regarding the fee schedules:
Jack K. Walton II, Associate Director
(202/452–2660); Jeremy R. Mandell,
Financial Services Analyst (202/452–
2842), Division of Reserve Bank
Operations and Payment Systems. For
questions regarding the PSAF and
earnings credits on clearing balances:
Gregory L. Evans, Assistant Director,
(202/452–3945); Brenda L. Richards,
Manager, Financial Accounting (202/
452–2753); or Jonathan Mueller,
Financial Analyst (202/530–6291),
Division of Reserve Bank Operations
and Payment Systems. For users of
Telecommunications Device for the Deaf
(TDD) only, please call 202–263–4869.
Copies of the 2006 fee schedules for the
check service are available from the
Board, the Federal Reserve Banks, or the
Reserve Banks’ financial services Web
site at www.frbservices.org.
SUPPLEMENTARY INFORMATION:
I. Priced Services
A. Discussion
From 1995 through 2004, the Reserve
Banks recovered 97.5 percent of their
total expense (including special project
costs and imputed expenses) and
targeted after-tax profits or return on
equity (ROE) for providing priced
services.1
Table 1 summarizes 2004, 2005
estimated, and 2006 budgeted cost
recovery rates for all priced services.
Cost recovery is estimated to be 103.6
percent in 2005 and budgeted to be
102.5 percent in 2006. The performance
of the check service heavily influences
the aggregate cost recovery rates and
accounts for approximately 80 percent
of the total cost of priced services. The
electronic services (FedACHSM, the
Fedwire funds service and national
settlement service (NSS), and the
Fedwire securities service) account for
approximately 20 percent of total costs.2
The noncash collection service
represents a de minimis amount of total
costs and, by year-end 2005, the Reserve
Banks will exit the service.
TABLE 1.—AGGREGATE PRICED SERVICES PRO FORMA COST AND REVENUE PERFORMANCE a
[$ millions]
1b
Revenue
Year
2004 .....................................................................................
2005 (estimate) ....................................................................
2006 (budget) .......................................................................
2c
Total expense
914.6
958.2
911.1
3
Net income
(Roe) [1–2]
842.6
821.8
817.1
72.0
136.4
94.0
41d
Target ROE
5 Recovery
rate after target ROE [1/
(2+4)]
112.4
102.9
72.0
a Calculations
95.8%
103.6%
102.5%
in this table and subsequent pro forma cost and revenue tables may be affected by rounding.
includes net income on clearing balances (NICB). Clearing balances are assumed to be invested in a broad portfolio of investments,
such as Treasury securities, government agency securities, commercial paper, municipal and corporate bonds, and money market and mutual
funds. To impute income, a constant spread is determined from the historical average return on this portfolio and applied to the rate used to determine the cost of clearing balances. NICB equals the imputed income from these investments less earnings credits granted to holders of clearing balances. The cost of earnings credits is based on the discounted three-month Treasury bill rate.
c The calculation of total expense includes operating, imputed, and other expenses. Imputed and other expenses include taxes, FDIC insurance, Board of Governors’ priced services expenses, the cost of float, and interest on imputed debt, if any. Credits or debits related to the accounting for pensions under FAS 87 are also included.
d Target ROE is the after-tax ROE included in the PSAF. The 2006 target return on equity is lower than it has been historically because of a
Board-approved change to the method used to calculate the targeted return on equity.
b Revenue
Table 2 presents an overview of the
2004, 2005 budget, 2005 estimate, and
2006 budget cost recovery performance
by priced service.
1 These imputed expenses, such as taxes that
would have been paid, and the return on equity that
would have to be earned had the services been
furnished by a private business firm, are referred to
as the PSAF. The ten-year recovery rate is based
upon the pro forma income statements for Federal
Reserve Banks’ priced services published in the
Board’s Annual Report.
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2 FedACh and Fedwire are registered
servicemarks of the Reserve Banks.
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]]>Agencies
[Federal Register Volume 70, Number 216 (Wednesday, November 9, 2005)]
[Notices]
[Pages 68048-68049]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E5-6175]
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FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in Permissible Nonbanking
Activities or to Acquire Companies that are Engaged in Permissible
Nonbanking Activities
The companies listed in this notice have given notice under section
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and
Regulation Y (12 CFR part 225) to engage de novo, or to acquire or
control voting securities or assets of a company, including the
companies listed below, that engages either directly or through a
subsidiary or other company, in a nonbanking activity that is listed in
Sec. 225.28 of Regulation Y (12 CFR 225.28) or that the Board has
determined by Order to be closely related to banking and permissible
for bank holding companies. Unless otherwise noted, these activities
will be conducted throughout the United States.
Each notice is available for inspection at the Federal Reserve Bank
indicated. The notice also will be available for inspection at the
offices of the Board of Governors. Interested persons may express their
views in writing on the question whether the proposal complies with the
standards of section 4 of the BHC Act. Additional information on all
bank holding companies may be obtained from the National Information
Center Web site at https://www.ffiec.gov/nic/.
Unless otherwise noted, comments regarding the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than December 5, 2005.
[[Page 68049]]
A. Federal Reserve Bank of San Francisco (Tracy Basinger, Director,
Regional and Community Bank Group) 101 Market Street, San Francisco,
California 94105-1579:
1. Ruh Capital, LLC; Eggemeyer Family Trust; William J. Ruh Trust;
Castle Creek Capital Partners III, L.P.; Western States Opportunity
LLC; Eggemeyer Capital LLC; and Castle Creek Capital III, LLC, all of
Rancho Santa Fe, California; to acquire shares of Atlanta
Bancorporation, Inc., Alpharetta, Georgia, and indirectly acquire
Gibsonville Community Bank, Gibsonville, North Carolina, and thereby
engage in operating a state savings bank, pursuant to section
225.25(b)(4)(ii) of Regulation Y.
Board of Governors of the Federal Reserve System, November 4,
2005.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc.E5-6175 Filed 11-8-05; 8:45 am]
BILLING CODE 6210-01-S
