Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies, 5080 [2010-1964]

Download as PDF jlentini on DSKJ8SOYB1PROD with NOTICES 5080 Federal Register / Vol. 75, No. 20 / Monday, February 1, 2010 / Notices to make determinations regarding deposit insurance coverage for depositors of failed institutions. The information provided allows the FDIC to identify the actual owners of an account and each owner’s interest in the account. Current Action: The FDIC is requesting OMB approval to make modifications, which may be considered substantive and material, to the following forms: Declaration for Trust, Form 7200/05, and Declaration for Testamentary Deposit (Multiple Grantors), Form 7200/09. In addition, the FDIC proposes to eliminate its Declaration for Testamentary Deposit (Single Grantors), Form 7200/03, combining it with the newly modified Form 7200/09, Declaration for Testamentary Deposit; and add to the collection a new form, Declaration for Irrevocable Trust, Form 7200/18. Specifically, with respect to Form 7200/ 05, the FDIC is changing the title of the form to ‘‘Declaration for Revocable Trust,’’ thereby eliminating use of the form for irrevocable trusts; deleting the request for information on ownership interest (by percentage or dollar amount); adding a request for information on beneficiary type (i.e., individual, charity, or non-profit) and adding, for charitable or non-profit organizations, a request that the respondent indicate whether the charity or non-profit is recognized by the IRS. The FDIC believes that the changes to Form 7200/05 do not render it any more or less burdensome than the existing form; therefore, the estimated time to complete the form is unchanged. There is, however, an estimated decrease (of 200) in the number of respondents because the form will no longer be used to collect information for irrevocable trusts. With respect to Form 7200/09, the FDIC is proposing to combine it with Form 7200/03, making it applicable to both single and multiple grantor testamentary deposits; eliminate the request for information regarding the relationship of each beneficiary to the grantors; eliminate the requirement to provide a date of death for any named beneficiaries who are deceased; add a request for information on beneficiary type (i.e., individual, charity, or nonprofit) and add, for charitable or nonprofit organization beneficiaries, a request that the respondent indicate whether the charity or non-profit is recognized by the IRS. The FDIC believes that changes to Form 7200/09 do not render it any more or less burdensome than the existing form. Although the number of respondents has increased to reflect inclusion of VerDate Nov<24>2008 18:35 Jan 29, 2010 Jkt 220001 respondents to discontinued Form 7200/03, the impact on overall burden for the collection is neutral. With respect to new Form 7200/18, it will collect information regarding irrevocable trusts that previously was collected on Form 7200/05. However, unlike old Form 7200/05, new Form 7200/18 does not request information on the ownership interest (percentage or dollar amount) of beneficiaries, or the date of death or any deceased beneficiaries, but does collect information on the beneficiary type (i.e., individual, charity or non-profit) and, for charitable or non-profit organizations, on whether the entity is recognized by the IRS. The estimated response time for new Form 7200/18 is 30 minutes and the estimated number of respondents is 200. Therefore, the impact of all of the changes on overall burden estimates for the collection is neutral. Request for Comment Comments are invited on: (a) Whether these collections of information are necessary for the proper performance of the FDIC’s functions, including whether the information has practical utility; (b) the accuracy of the estimate of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record. Dated at Washington, DC, this 26th day of January 2010. Federal Deposit Insurance Corporation. Valerie J. Best, Assistant Executive Secretary. [FR Doc. 2010–1998 Filed 1–29–10; 8:45 am] BILLING CODE 6714–01–P FEDERAL RESERVE SYSTEM Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)). PO 00000 Frm 00048 Fmt 4703 Sfmt 4703 The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than February 16, 2010. A. Federal Reserve Bank of Atlanta (Steve Foley, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309: 1. Viradesh Kumar Nanda and Sameer Kumar Nanda; to acquire additional shares of Hometown Community Bancshares, Inc., and its subsidiary, Hometown Community Bank, both of Braselton, Georgia. Total pro forma ownership will equal 17.51 percent. 2. Brian Clayton McRae, of Shreveport, Louisiana; to retain shares of Vernon Bancshares, and its subsidiary bank, Vernon Bank, both of Leesville, Louisiana. Board of Governors of the Federal Reserve System, January 27, 2010. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2010–1964 Filed 1–29–10; 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 applications 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 E:\FR\FM\01FEN1.SGM 01FEN1

Agencies

[Federal Register Volume 75, Number 20 (Monday, February 1, 2010)]
[Notices]
[Page 5080]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-1964]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Acquisition of Shares of Bank or 
Bank Holding Companies

    The notificants listed below have applied under the Change in Bank 
Control Act (12 U.S.C. 1817(j)) and Sec. [thinsp]225.41 of the Board's 
Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. 
The factors that are considered in acting on the notices are set forth 
in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).
    The notices are available for immediate inspection at the Federal 
Reserve Bank indicated. The notices also will be available for 
inspection at the office of the Board of Governors. Interested persons 
may express their views in writing to the Reserve Bank indicated for 
that notice or to the offices of the Board of Governors. Comments must 
be received not later than February 16, 2010.
    A. Federal Reserve Bank of Atlanta (Steve Foley, Vice President) 
1000 Peachtree Street, N.E., Atlanta, Georgia 30309:
    1. Viradesh Kumar Nanda and Sameer Kumar Nanda; to acquire 
additional shares of Hometown Community Bancshares, Inc., and its 
subsidiary, Hometown Community Bank, both of Braselton, Georgia. Total 
pro forma ownership will equal 17.51 percent.
    2. Brian Clayton McRae, of Shreveport, Louisiana; to retain shares 
of Vernon Bancshares, and its subsidiary bank, Vernon Bank, both of 
Leesville, Louisiana.

    Board of Governors of the Federal Reserve System, January 27, 
2010.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2010-1964 Filed 1-29-10; 8:45 am]
BILLING CODE 6210-01-S
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