Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 33672 [2016-12580]

Download as PDF sradovich on DSK3TPTVN1PROD with NOTICES 33672 Federal Register / Vol. 81, No. 103 / Friday, May 27, 2016 / Notices Total Annual Cost: No Cost. Privacy Act Impact Assessment: No impact(s). Nature and Extent of Confidentiality: We note that USAC must preserve the confidentiality of all data obtained from respondents; must not use the data except for purposes of administering the universal service programs; and must not disclose data in company-specific form unless directed to do so by the Commission. Needs and Uses: The Commission is requesting approval for this new collection. In March 2016, the Commission adopted an order reforming its universal service support program in areas served by rate-of-return carriers. Connect America Fund; ETC Annual Reports and Certifications; Establishing Just and Reasonable Rates for Local Exchange Carriers; Developing a Unified Intercarrier Compensation Regime, WC Docket Nos. 10–90, 14–58, 07–135, 05– 337, 03–109; CC Docket Nos. 01–92, 96– 45, Report and Order, Order and Order on Reconsideration, and Further Notice of Proposed Rulemaking, FCC 16–33 (Rate-of-Return Order). The Commission adopted a voluntary path for rate-of-return carriers to receive model-based universal service support in exchange for making a commitment to deploy broadband-capable networks meeting certain service obligation to a pre-determined number of eligible locations by state. The Commission addressed the requirement that carriers electing model-based support must notify the Commission of that election and their commitment to satisfy the specific service obligations associated with the amount of model support. In addition, the Commission adopted reforms to the universal service mechanisms used to determine support for rate-of-return carriers not electing model-based support. Among other such reforms, the Commission adopted an operating expense limitation to improve carriers’ incentives to be prudent and efficient in their expenditures, a capital investment allowance to better target support to those areas with less broadband deployment, and broadband deployment obligations to promote ‘‘accountability from companies receiving support to ensure that public investment are used wisely to deliver intended results.’’ This information collection addresses the new burdens associated with those reforms. Federal Communications Commission. Gloria J. Miles, Federal Register Liaison Officer, Office of the Secretary. [FR Doc. 2016–12611 Filed 5–26–16; 8:45 am] BILLING CODE 6712–01–P VerDate Sep<11>2014 18:00 May 26, 2016 Jkt 238001 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 June 24, 2016. A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice President), 1000 Peachtree Street NE., Atlanta, Georgia 30309. Comments can also be sent electronically to Applications.Comments@atl.frb.org: 1. Progressive Financial Group, Inc., Jamestown, Tennessee; to become a bank holding company by acquiring 100 percent of the voting shares of Progressive Savings Bank, Jamestown, Tennessee. 2. Progressive Financial Group, Inc., Jamestown, Tennessee, to acquire up to 23.3 percent of the voting shares of Upper Cumberland Bancshares, Inc., Byrdstown, Tennessee, and thereby indirectly acquire People’s Bank and Trust Company of Pickett County, Byrdstown, Tennessee, and Peoples Bank & Trust Company of Clinton, Albany, Kentucky. PO 00000 Frm 00019 Fmt 4703 Sfmt 4703 Board of Governors of the Federal Reserve System, May 24, 2016. Michele Taylor Fennell, Assistant Secretary of the Board. [FR Doc. 2016–12580 Filed 5–26–16; 8:45 am] BILLING CODE 6210–01–P FEDERAL RESERVE SYSTEM Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB Board of Governors of the Federal Reserve System. SUMMARY: Notice is hereby given of the final approval of a proposed information collection by the Board of Governors of the Federal Reserve System (Board) under OMB delegated authority. Boardapproved collections of information are incorporated into the official OMB inventory of currently approved collections of information. Copies of the Paperwork Reduction Act Submission, supporting statements and approved collection of information instrument(s) are placed into OMB’s public docket files. The Federal Reserve may not conduct or sponsor, and the respondent is not required to respond to, an information collection that has been extended, revised, or implemented on or after October 1, 1995, unless it displays a currently valid OMB control number. FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance Officer—Nuha Elmaghrabi—Office of the Chief Data Officer, Board of Governors of the Federal Reserve System, Washington, DC 20551, (202) 452–3829. Telecommunications Device for the Deaf (TDD) users may contact (202) 263–4869, Board of Governors of the Federal Reserve System, Washington, DC 20551. OMB Desk Officer—Shagufta Ahmed—Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Room 10235, 725 17th Street NW., Washington, DC 20503. AGENCY: Final Approval Under OMB Delegated Authority of The Extension For Three Years, Without Revision, of the Following Reports 1. Report title: Written Security Program for State Member Banks. Agency form number: FR 4198. OMB control number: 7100–0326. Frequency: On occasion. Reporters: Bank holding companies, savings and loan holding companies, state member banks, state-licensed branches and agencies of foreign banks E:\FR\FM\27MYN1.SGM 27MYN1

Agencies

[Federal Register Volume 81, Number 103 (Friday, May 27, 2016)]
[Notices]
[Page 33672]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-12580]


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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 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 June 24, 2016.
    A. Federal Reserve Bank of Atlanta (Chapelle Davis, Assistant Vice 
President), 1000 Peachtree Street NE., Atlanta, Georgia 30309. Comments 
can also be sent electronically to Applications.Comments@atl.frb.org:
    1. Progressive Financial Group, Inc., Jamestown, Tennessee; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of Progressive Savings Bank, Jamestown, Tennessee.
    2. Progressive Financial Group, Inc., Jamestown, Tennessee, to 
acquire up to 23.3 percent of the voting shares of Upper Cumberland 
Bancshares, Inc., Byrdstown, Tennessee, and thereby indirectly acquire 
People's Bank and Trust Company of Pickett County, Byrdstown, 
Tennessee, and Peoples Bank & Trust Company of Clinton, Albany, 
Kentucky.

    Board of Governors of the Federal Reserve System, May 24, 2016.
Michele Taylor Fennell,
Assistant Secretary of the Board.
[FR Doc. 2016-12580 Filed 5-26-16; 8:45 am]
BILLING CODE 6210-01-P