Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 31329-31330 [2017-14209]

Download as PDF Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices sradovich on DSK3GMQ082PROD with NOTICES States, which is followed closely by other government agencies, the banking industry, the financial press, and other users. The H.8 release provides a balance sheet for the banking industry as a whole and data disaggregated by its large domestic, small domestic, and foreign-related bank components. Proposed revisions: The Board proposes several revisions to simplify and reduce the overall reporting burden associated with the FR 2644 report. The proposed FR 2644 reporting form would consist of 29 balance-sheet items and 2 memoranda items, an overall reduction of six data items. Combine Asset Items 3.a and 3.b Into One Data Item, and Liability Items 9.a and 9.b Into One Data Item The Board proposes to combine (1) Federal funds sold and securities purchased under agreements to resell with commercial banks in the U.S. (including U.S. branches and agencies of foreign banks) (item 3.a) and (2) Federal funds sold and securities purchased under agreements to resell with others (including nonbank brokers and dealers in securities and FHLB) (item 3.b) into one new item: Federal funds sold and securities purchased under agreements to resell (item 3) and to combine (1) Borrowings (including federal funds purchased and securities sold under agreements to repurchase and other borrowed money) from commercial banks in the U.S. (including U.S. branches and agencies of foreign banks) (item 9.a) and (2) Borrowings (including federal funds purchased and securities sold under agreements to repurchase and other borrowed money) from others (including FRB and FHLB) (item 9.b) into one new item: Borrowings (including federal funds purchased and securities sold under agreements to repurchase and other borrowed money) (item 9). Counterparty-level detail on federal funds sold and securities purchased under agreements to resell (federal funds) has been collected from large banks since mid-1969 and from small banks since July 2009. Similar information for borrowings has been reported by both large and small banks since October 1996. In the H.8 release, federal funds sold to commercial banks have been included in interbank loans and federal funds sold to others have been included in non-core loans as part of other loans and leases. These asset/liability breakdowns have provided useful information on counterparties, especially during the financial crisis. However, this information may now be obtained from the Report of Selected Money Market VerDate Sep<11>2014 18:13 Jul 05, 2017 Jkt 241001 Rates (FR 2420; OMB No. 7100–0357), which collects transaction-level data, including counterparty information, for both federal funds purchased and other borrowings. Therefore, the Board recommends dropping the counterparty detail from the FR 2644 report. Replace Item 8 With New Item 8.b The Board proposes to replace Total deposits (item 8) with All other deposits (item 8.b). This new item will consist of all deposits other than time deposits of $100,000 or more. The Board assesses that reporting accuracy will be higher if banks report the two pieces of total deposits separately, rather than reporting total deposits and time deposits of $100,000 or more, a subset of the former. The Board believes that this small change will reduce the incidence of misreporting, leading to fewer edit failures and less need for explanatory contact with respondents. Proposed Elimination of Data Items The Board proposes to stop separately collecting two data items related to banks’ derivative and other trading activities: (1) Trading assets, other than securities and loans included above (item 5) and (2) Trading liabilities (item 10). Data item 5 would be included in All other assets (item 6.b), while data item 10 would be rolled into All other liabilities (including subordinated notes and debentures) (item 11.b). Successive data items would be renumbered as appropriate. During the 2015 renewal of the FR 2644, derivatives with positive and negative fair values, items 5.a and 10.a, the major components of trading assets and trading liabilities respectively, were dropped from the reporting form. Weekly changes in the total items could reasonably be attributed to movements in derivatives, since they accounted for the preponderance of the trading items. However, in the intervening period, the Board has assessed that the benefits of collecting the two trading assets and liabilities items separately, in terms of analytical usefulness, do not exceed the costs of collection. The Board also proposes to stop collecting two memoranda items: (1) Loans to small businesses amount currently outstanding of ‘‘Loans secured by nonfarm nonresidential properties’’ with original amounts of $1,000,000 or less (included in item 4.a.(5) above) (item M.2 a) and (2) Loans to small businesses amount currently outstanding of ‘‘Commercial and industrial loans to U.S. addressees’’ with original amounts of $1,000,000 or less (included in item 4.c above) (item M.2. b). PO 00000 Frm 00047 Fmt 4703 Sfmt 4703 31329 These memoranda items were added to the FR 2644 reporting form as of January 7, 2015, due to increasing interest in the health of small business lending and the lack of other timely sources of information. The recommendation to discontinue the collection of these data items is based on three factors: (1) The new FFIEC 051 Call Report for eligible small banks with assets less than $1 billion will require only semiannual reporting (June and December) for the related Call Report data items. This new Call Report was implemented as of March 31, 2017. Semiannual, rather than quarterly, reporting by three-fourths of the domestic banks in the universe would severely limit the Board’s ability to estimate universe data from the weekly sample FR 2644 data and to sufficiently benchmark those estimates, leading to deterioration in the universe estimates. (2) During the development of the FFIEC 051, both in-person conversations with bankers and their comments in response to the associated Federal Register notices identified these items as among the most burdensome for banks to provide, in some cases requiring manual intervention to do so. (3) Many of the panel respondents, including most of the largest banks, repeat their latest quarterly Call Report figures for these data items. This practice does not provide the Board with the more up-to-date information that it had been seeking. Legal authorization and confidentiality: The FR 2644 is authorized by section 2A and 11(a)(2) of the Federal Reserve Act (12 U.S.C. 225(a) and 248(a)(2)) and by section 7(c)(2) of the International Banking Act (12 U.S.C. 3105(c)(2)) and is voluntary. Individual respondent data are regarded as confidential under the Freedom of Information Act (5 U.S.C. 552(b)(4)). Board of Governors of the Federal Reserve System, June 29, 2017. Ann E. Misback, Secretary of the Board. [FR Doc. 2017–14140 Filed 7–5–17; 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 E:\FR\FM\06JYN1.SGM 06JYN1 sradovich on DSK3GMQ082PROD with NOTICES 31330 Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices 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 August 1, 2017. A. Federal Reserve Bank of Boston (Prabal Chakrabarti, Senior Vice President) 600 Atlantic Avenue, Boston, Massachusetts 02210–2204. Comments can also be sent electronically to BOS.SRC.Applications.Comments@ bos.frb.org: 1. SI Financial Group, Inc., Willimantic, Connecticut; to become a bank holding company in association with the revocation of its 10(1) election. SI Financial Group owns Savings Institute Bank and Trust Company, Willimantic, Connecticut. B. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice President) 1455 East Sixth Street, Cleveland, Ohio 44101–2566. Comments can also be sent electronically to Comments.applications@clev.frb.org: 1. Wayne Savings Bancshares, Inc., Wooster, Ohio; to become a bank holding company by acquiring 100 percent of the voting shares of Wayne Savings Community Bank, Wooster, Ohio, upon its conversion to a commercial bank. C. 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. Seacoast Banking Corporation of Florida, Stuart, Florida; to merge with NorthStar Banking Corporation, and thereby indirectly acquire NorthStar Bank, both of Tampa, Florida. VerDate Sep<11>2014 18:13 Jul 05, 2017 Jkt 241001 D. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant Vice President) 230 South LaSalle Street, Chicago, Illinois 60690–1414: 1. First Busey Corporation, Champaign, Illinois; to merge with Mid Illinois Bancorp, Inc., Peoria, Illinois, and thereby indirectly acquire South Side Trust & Savings Bank, Peoria, Illinois. Board of Governors of the Federal Reserve System, June 30, 2017. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2017–14209 Filed 7–5–17; 8:45 am] BILLING CODE 6210–01–P GENERAL SERVICES ADMINISTRATION [OMB Control No. 3090–0118; Docket 2017– 0001; Sequence 2] Submission for OMB Review; Statement of Witness, Standard Form 94 Federal Vehicle Policy Division, General Services Administration (GSA). ACTION: Notice of a request for comments regarding a reinstatement, with change, to an OMB clearance. AGENCY: Under the provisions of the Paperwork Reduction Act of 1995, GSA has submitted to the Office of Management and Budget (OMB) a request to review and approve a reinstatement, with change, to an information collection requirement concerning Standard Form (SF) 94, Statement of Witness. A notice was published in the Federal Register at 82 FR 19722, on April 28, 2017. No comments were received. DATES: Submit comments on or before August 7, 2017. FOR FURTHER INFORMATION CONTACT: Ray Wynter, Federal Vehicle Policy Division, at 202–501–3802, or email ray.wynter@gsa.gov. ADDRESSES: Submit comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden to: Office of Information and Regulatory Affairs of OMB, Attention: Desk Officer for GSA, Room 10236, NEOB, Washington, DC 20503. Additionally submit a copy to GSA by any of the following methods: • Regulations.gov: http:// www.regulations.gov. Submit comments via the Federal eRulemaking portal by searching the OMB control number. Select the link ‘‘Submit a Comment’’ SUMMARY: PO 00000 Frm 00048 Fmt 4703 Sfmt 4703 that corresponds with ‘‘Information Collection 3090–0118, Statement of Witness, SF 94.’’ Follow the instructions provided at the ‘‘Submit a Comment’’ screen. Please include your name, company name (if any), and ‘‘Information Collection 3090–0118, Statement of Witness, SF 94’’ on your attached document. • Mail: General Services Administration, Regulatory Secretariat Division (MVCB), 1800 F Street NW., Washington, DC 20405. ATTN: Ms. Sosa/IC 3090–0118, Statement of Witness, SF 94. Instructions: Please submit comments only and cite Information Collection 3090–0118, Statement of Witness, SF 94, in all correspondence related to this collection. Comments received generally will be posted without change to http:// www.regulations.gov, including any personal and/or business confidential information provided. To confirm receipt of your comment(s), please check www.regulations.gov, approximately two to three days after submission to verify posting (except allow 30 days for posting of comments submitted by mail). SUPPLEMENTARY INFORMATION: A. Purpose GSA is requesting the Office of Management and Budget (OMB) to review and approve a reinstatement, with change, to information collection, 3090–0118, Statement of Witness, SF 94. The forms are used by all Federal agencies to report accident information involving U.S. Government motor vehicles. B. Annual Reporting Burden Respondents: 874. Responses per Respondent: 1. Total Annual Responses: 874. Hours per response: .333. Total Burden Hours: 291. C. Public Comment Public comments are particularly invited on: Whether this collection of information is necessary and whether it will have practical utility; whether our estimate of the public burden of this collection of information is accurate, and based on valid assumptions and methodology; ways to enhance the quality, utility, and clarity of the information to be collected. Obtaining Copies of Proposals: Requesters may obtain a copy of the information collection documents from the General Services Administration, Regulatory Secretariat Division (MVCB), 1800 F Street NW., Washington, DC 20405, telephone 202–501–4755. Please cite OMB Control No. 3090–0118, E:\FR\FM\06JYN1.SGM 06JYN1

Agencies

[Federal Register Volume 82, Number 128 (Thursday, July 6, 2017)]
[Notices]
[Pages 31329-31330]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-14209]


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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

[[Page 31330]]

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 August 1, 2017.
    A. Federal Reserve Bank of Boston (Prabal Chakrabarti, Senior Vice 
President) 600 Atlantic Avenue, Boston, Massachusetts 02210-2204. 
Comments can also be sent electronically to 
BOS.SRC.Applications.Comments@bos.frb.org:
    1. SI Financial Group, Inc., Willimantic, Connecticut; to become a 
bank holding company in association with the revocation of its 10(1) 
election. SI Financial Group owns Savings Institute Bank and Trust 
Company, Willimantic, Connecticut.
    B. Federal Reserve Bank of Cleveland (Nadine Wallman, Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101-2566. Comments 
can also be sent electronically to Comments.applications@clev.frb.org:
    1. Wayne Savings Bancshares, Inc., Wooster, Ohio; to become a bank 
holding company by acquiring 100 percent of the voting shares of Wayne 
Savings Community Bank, Wooster, Ohio, upon its conversion to a 
commercial bank.
    C. 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. Seacoast Banking Corporation of Florida, Stuart, Florida; to 
merge with NorthStar Banking Corporation, and thereby indirectly 
acquire NorthStar Bank, both of Tampa, Florida.
    D. Federal Reserve Bank of Chicago (Colette A. Fried, Assistant 
Vice President) 230 South LaSalle Street, Chicago, Illinois 60690-1414:
    1. First Busey Corporation, Champaign, Illinois; to merge with Mid 
Illinois Bancorp, Inc., Peoria, Illinois, and thereby indirectly 
acquire South Side Trust & Savings Bank, Peoria, Illinois.

    Board of Governors of the Federal Reserve System, June 30, 2017.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2017-14209 Filed 7-5-17; 8:45 am]
 BILLING CODE 6210-01-P