Formations of, Acquisitions by, and Mergers of Bank Holding Companies, 43134 [2023-14268]

Download as PDF 43134 Federal Register / Vol. 88, No. 128 / Thursday, July 6, 2023 / Notices lotter on DSK11XQN23PROD with NOTICES1 financial institutions in accordance with Accounting Standards Update (ASU) 2016– 13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments and its subsequent amendments (collectively, ASC Topic 326) in determining the allowance for credit losses (ACL). Additional supervisory guidance for the financial institution’s estimate of the ACL and for examiners’ responsibilities to evaluate these estimates is presented in the Interagency Policy Statement on Allowances for Credit Losses (Revised April 2023). Additional information related to identifying and disclosing modifications for regulatory reporting under ASC Topic 326 is located in the FFIEC Call Report and NCUA 5300 Call Report instructions. In accordance with ASC Topic 326, expected credit losses on restructured or modified loans are estimated under the same CECL methodology as all other loans in the portfolio. Loans, including loans modified in a restructuring, should be evaluated on a collective basis unless they do not share similar risk characteristics with other loans. Changes in credit risk, borrower circumstances, recognition of charge-offs, or cash collections that have been fully applied to principal, often require reevaluation to determine if the modified loan should be included in a different pool of assets with similar risks for measuring expected credit losses. Although ASC Topic 326 allows a financial institution to use any appropriate loss estimation method to estimate the ACL, there are some circumstances when specific measurement methods are required. If a financial asset is collateral dependent,37 the ACL is estimated using the fair value of the collateral. For a collateral-dependent loan, regulatory reporting requires that if the amortized cost of the loan exceeds the fair value 38 of the collateral (less costs to sell if the costs are expected to reduce the cash flows available to repay or otherwise satisfy the loan, as applicable), this excess is included in the amount of expected credit losses when estimating the ACL. However, some or all of this difference may represent a loss for classification purposes that should be charged off against the ACL in a timely manner. Financial institutions also should consider the need to recognize an allowance for expected credit losses on off-balance sheet credit exposures, such as loan commitments, 37 The repayment of a collateral-dependent loan is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the entity’s assessment as of the reporting date. Refer to the glossary entry in the FFIEC Call Report instructions for ‘‘Allowance for Credit Losses— Collateral-Dependent Financial Assets.’’ 38 The fair value of collateral should be measured in accordance with FASB ASC Topic 820, Fair Value Measurement. For allowance measurement purposes, the fair value of collateral should reflect the current condition of the property, not the potential value of the collateral at some future date. VerDate Sep<11>2014 17:07 Jul 05, 2023 Jkt 259001 in other liabilities consistent with ASC Topic 326. Michael J. Hsu, Acting Comptroller of the Currency. By order of the Board of Governors of the Federal Reserve System. Ann E. Misback, Secretary of the Board Federal Deposit Insurance Corporation. By order of the Board of Directors. Dated at Washington, DC, on May 31, 2023. James P. Sheesley, Assistant Executive Secretary. By order of the Board of the National Credit Union Administration. Dated at Alexandria, VA, this 26th of June 2023. Melane Conyers-Ausbrooks, Secretary of the Board, National Credit Union Administration. Washington, DC 20551–0001, not later than August 7, 2023. A. Federal Reserve Bank of Dallas (Karen Smith, Director, Mergers & Acquisitions) 2200 North Pearl St., Dallas, Texas 75201–2272. Comments can also be sent electronically to Comments.applications@dal.frb.org: 1. Patrons Holdings, Inc., Dallas, Texas; to become a bank holding company by acquiring Eden Financial Corporation, San Angelo, Texas, and thereby indirectly acquiring Texas Financial Bank, Eden, Texas, and Amistad Bank, Del Rio, Texas. Board of Governors of the Federal Reserve System. Margaret McCloskey Shanks, Deputy Secretary of the Board. [FR Doc. 2023–14268 Filed 7–5–23; 8:45 am] BILLING CODE P [FR Doc. 2023–14247 Filed 7–5–23; 8:45 am] BILLING CODE 4810–33–P; 6714–01–P; 7535–01–P OFFICE OF GOVERNMENT ETHICS FEDERAL RESERVE SYSTEM Updated OGE Senior Executive Service Performance Review Board Formations of, Acquisitions by, and Mergers of Bank Holding Companies AGENCY: 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 public portions of the applications listed below, as well as other related filings required by the Board, if any, are available for immediate inspection at the Federal Reserve Bank(s) indicated below and at the offices of the Board of Governors. This information may also be obtained on an expedited basis, upon request, by contacting the appropriate Federal Reserve Bank and from the Board’s Freedom of Information Office at https://www.federalreserve.gov/foia/ request.htm. Interested persons may express their views in writing on the standards enumerated in the BHC Act (12 U.S.C. 1842(c)). Comments regarding each of these applications must be received at the Reserve Bank indicated or the offices of the Board of Governors, Ann E. Misback, Secretary of the Board, 20th Street and Constitution Avenue NW, PO 00000 Frm 00056 Fmt 4703 Sfmt 4703 Office of Government Ethics (OGE). ACTION: Notice. Notice is hereby given of the appointment of a member to the OGE Senior Executive Service (SES) Performance Review Board. DATES: The notification in this document is effective July 6, 2023. FOR FURTHER INFORMATION CONTACT: Shelley K. Finlayson, Chief of Staff and Program Counsel, Office of Government Ethics, Suite 500, 1201 New York Avenue NW, Washington, DC 20005– 3917; Telephone: 202–482–9300; TYY: 800–877–8339; FAX: 202–482–9237. SUPPLEMENTARY INFORMATION: The rule at 5 U.S.C. 4314(c) requires each agency to establish, in accordance with regulations prescribed by the Office of Personnel Management at 5 CFR part 430, subpart C, and § 430.310 thereof in particular, one or more Senior Executive Service performance review boards. As a small executive branch agency, OGE has just one board. In order to ensure an adequate level of staffing and to avoid a constant series of recusals, the designated members of OGE’s SES Performance Review Board are being drawn, as in the past, in large measure from the ranks of other executive branch agencies. The board shall review and evaluate the initial appraisal of each OGE senior executive’s performance by his or her supervisor, along with any recommendations in each instance to the appointing authority relative to the performance of the senior executive. SUMMARY: E:\FR\FM\06JYN1.SGM 06JYN1

Agencies

[Federal Register Volume 88, Number 128 (Thursday, July 6, 2023)]
[Notices]
[Page 43134]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-14268]


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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 public portions of the applications listed below, as well as 
other related filings required by the Board, if any, are available for 
immediate inspection at the Federal Reserve Bank(s) indicated below and 
at the offices of the Board of Governors. This information may also be 
obtained on an expedited basis, upon request, by contacting the 
appropriate Federal Reserve Bank and from the Board's Freedom of 
Information Office at https://www.federalreserve.gov/foia/request.htm. 
Interested persons may express their views in writing on the standards 
enumerated in the BHC Act (12 U.S.C. 1842(c)).
    Comments regarding each of these applications must be received at 
the Reserve Bank indicated or the offices of the Board of Governors, 
Ann E. Misback, Secretary of the Board, 20th Street and Constitution 
Avenue NW, Washington, DC 20551-0001, not later than August 7, 2023.
    A. Federal Reserve Bank of Dallas (Karen Smith, Director, Mergers & 
Acquisitions) 2200 North Pearl St., Dallas, Texas 75201-2272. Comments 
can also be sent electronically to [email protected]:
    1. Patrons Holdings, Inc., Dallas, Texas; to become a bank holding 
company by acquiring Eden Financial Corporation, San Angelo, Texas, and 
thereby indirectly acquiring Texas Financial Bank, Eden, Texas, and 
Amistad Bank, Del Rio, Texas.

Board of Governors of the Federal Reserve System.
Margaret McCloskey Shanks,
Deputy Secretary of the Board.
[FR Doc. 2023-14268 Filed 7-5-23; 8:45 am]
BILLING CODE P
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