Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 32204 [2011-13774]

Download as PDF 32204 Federal Register / Vol. 76, No. 107 / Friday, June 3, 2011 / Notices connection is recommended. The SR Advisory Committee meeting videos are made available on-demand approximately two weeks after the event. Dated: May 27, 2011. Federal Deposit Insurance Corporation. Valerie Best, Assistant Executive Secretary, Federal Deposit Insurance Corporation. Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480–0291: 1. Golden Oak Bancshares, Inc., Sparta, Wisconsin; to become a bank holding company by acquiring approximately 81.5 percent of the voting shares of Park Bank, Holmen, Wisconsin. Board of Governors of the Federal Reserve System, May 31, 2011. Robert deV. Frierson, Deputy Secretary of the Board. [FR Doc. 2011–13736 Filed 6–2–11; 8:45 am] BILLING CODE 6714–01–P [FR Doc. 2011–13774 Filed 6–2–11; 8:45 am] FEDERAL RESERVE SYSTEM BILLING CODE 6210–01–P jlentini on DSK4TPTVN1PROD with NOTICES 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. 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 July 1, 2011. A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23261–4528: 1. Crescent Financial Bancshares, Inc., Cary, North Carolina; to merge with Crescent Financial Corporation, Cary, North Carolina, and thereby acquire control of Crescent State Bank, both of Cary, North Carolina. B. Federal Reserve Bank of Minneapolis (Jacqueline G. King, VerDate Mar<15>2010 15:49 Jun 02, 2011 Jkt 223001 DEPARTMENT OF HEALTH AND HUMAN SERVICES Adjusted Federal Medical Assistance Percentage (FMAP) Rates for the Second and Third Quarters of Fiscal Year 2011 (FY11) Implementation of Section 5001 of the American Recovery and Reinvestment Act of 2009 (Pub. L. 111–5) for adjustments to the second and third quarters of Fiscal Year 2011 Federal Medical Assistance Percentage Rates for Federal Matching Shares for Medicaid and Title IV–E Foster Care, Adoption Assistance and Guardianship Assistance programs. AGENCY: Office of the Secretary, DHHS. ACTION: Notice. This notice provides the adjusted Federal Medical Assistance Percentage (FMAP) rates for the second and third quarters of Fiscal Year 2011 (FY11) as required under Section 5001 of the American Recovery and Reinvestment Act of 2009 (ARRA). Section 5001 of the ARRA provides for temporary increases in the FMAP rates to provide fiscal relief to states and to protect and maintain state Medicaid and certain other assistance programs in a period of economic downturn. The increased FMAP rates apply during a recession adjustment period that was originally defined in ARRA as the period beginning October 1, 2008 and ending December 31, 2010. Public Law 111–226 amended ARRA to extend the recession adjustment period to June 30, 2011 and to extend the hold harmless provision that prevents a state’s FMAP rate from decreasing due to a lower unemployment rate from the calendar quarter ending before July 1, 2010 to the calendar quarter ending before January 1, 2011. Public Law 111–226 also provided for a phase-down of the general FMAP increase in the last two quarters of the extended recession SUMMARY: PO 00000 Frm 00070 Fmt 4703 Sfmt 4703 adjustment period, and changed the look back period for calculating the unemployment adjustment for those quarters. DATES: Effective Date: The percentages listed are for the second quarter of FY11 beginning January 1, 2011 through March 31, 2011 and the third quarter of FY11 beginning April 1, 2011 through June 30, 2011. A. Background The FMAP is used to determine the amount of federal matching for specified state expenditures for assistance payments under programs under the Social Security Act (‘‘the Act’’). Sections 1905(b) and 1101(a)(8)(B) of the Act require the Secretary of Health and Human Services to publish the FMAP rates each year. The Secretary calculates the percentages using formulas in sections 1905(b) and 1101(a)(8)(B), and statistics from the Department of Commerce of average income per person in each state and for the Nation as a whole. The percentages must be within the upper and lower limits given in section 1905(b) of the Act. The percentages to be applied to the District of Columbia, Puerto Rico, the Virgin Islands, Guam, American Samoa, and the Northern Mariana Islands are specified separately in the Act, and thus are not based on the statutory formula that determines the percentages for the 50 states. Section 1905(b) of the Act specifies the formula for calculating the FMAP as follows: The FMAP for any State shall be 100 per centum less the State percentage; and the State percentage shall be that percentage which bears the same ratio to 45 per centum as the square of the per capita income of such State bears to the square of the per capita income of the continental United States (including Alaska) and Hawaii; except that (1) the FMAP shall in no case be less than 50 per centum or more than 83 per centum, and (2) the FMAP for Puerto Rico, the Virgin Islands, Guam, the Northern Mariana Islands, and American Samoa shall be 50 per centum. Section 4725 of the Balanced Budget Act of 1997 amended section 1905(b) to provide that the FMAP for the District of Columbia for purposes of titles XIX (Medicaid) and XXI (CHIP) shall be 70 percent. The Medicare Improvements for Patients and Providers Act of 2008 (MIPPA) (Pub. L. 110–275) amended the FMAP applied to the District of Columbia for maintenance payments under title IV–E programs to make it consistent with the 70 percent Medicaid match rate. Section 5001 of Division B of the ARRA provides for a temporary increase in FMAP rates for Medicaid and title E:\FR\FM\03JNN1.SGM 03JNN1

Agencies

FEDERAL RESERVE SYSTEM

[Federal Register Volume 76, Number 107 (Friday, June 3, 2011)]
[Notices]
[Page 32204]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-13774]


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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.
    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 July 1, 2011.
    A. Federal Reserve Bank of Richmond (Adam M. Drimer, Assistant Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Crescent Financial Bancshares, Inc., Cary, North Carolina; to 
merge with Crescent Financial Corporation, Cary, North Carolina, and 
thereby acquire control of Crescent State Bank, both of Cary, North 
Carolina.
    B. Federal Reserve Bank of Minneapolis (Jacqueline G. King, 
Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Golden Oak Bancshares, Inc., Sparta, Wisconsin; to become a bank 
holding company by acquiring approximately 81.5 percent of the voting 
shares of Park Bank, Holmen, Wisconsin.

    Board of Governors of the Federal Reserve System, May 31, 2011.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2011-13774 Filed 6-2-11; 8:45 am]
BILLING CODE 6210-01-P

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