81 FR 62135 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies
FEDERAL RESERVE SYSTEM Federal Register Volume 81, Issue 174 (September 8, 2016)
Federal Register Volume 81, Issue 174 (September 8, 2016)
| Page Range | 62135-62135 | |
| FR Document | 2016-21597 |
[Federal Register Volume 81, Number 174 (Thursday, September 8, 2016)] [Notices] [Page 62135] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-21597] ----------------------------------------------------------------------- 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 October 3, 2016. A. Federal Reserve Bank of Dallas (Robert L. Triplett III, Senior Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272: 1. Greater State Bancshares Corp., McAllen, Texas, to become a bank holding company through the acquisition of Greater State Bank, Falfurrias, Texas. Board of Governors of the Federal Reserve System, September 2, 2016. Robert deV. Frierson, Secretary of the Board. [FR Doc. 2016-21597 Filed 9-7-16; 8:45 am] BILLING CODE 6210-01-P
![Federal Register / Vol. 81, No. 174 / Thursday, September 8, 2016 / Notices 62135
and disclose extraordinary events and and 11, would be revised to say (12 U.S.C. 1843). Unless otherwise
transactions. An event or transaction is ‘‘Income (loss) before income taxes and noted, nonbanking activities will be
presumed to be an ordinary and usual discontinued operations,’’ ‘‘Income conducted throughout the United States.
activity of the reporting entity unless (loss) before discontinued operations,’’ Unless otherwise noted, comments
evidence clearly supports its and ‘‘Discontinued operations, net of regarding each of these applications
classification as an extraordinary item. applicable income taxes,’’ respectively. must be received at the Reserve Bank
ASU 2015–01 is effective for fiscal Similarly, the captions for Schedule HI, indicated or the offices of the Board of
years, and interim periods within those memorandum items 2 and 8, and items Governors not later than October 3,
fiscal years, beginning after December 8 and 11 on the Predecessor Financial 2016.
15, 2015. Thus, for example, holding Items and applicable Glossary A. Federal Reserve Bank of Dallas
companies with a calendar year fiscal references would also be revised to (Robert L. Triplett III, Senior Vice
year must begin to apply the ASU in eliminate the concept of extraordinary President) 2200 North Pearl Street,
their FR Y–9C for March 31, 2016.6 items. Dallas, Texas 75201–2272:
After a holding company adopts ASU 1. Greater State Bancshares Corp.,
Additional Comments McAllen, Texas, to become a bank
2015–01, any event or transaction that
would have met the criteria for One commenter requested holding company through the
extraordinary classification before the clarification on why the proposed acquisition of Greater State Bank,
adoption of the ASU should be reported change to the Call Report regarding Falfurrias, Texas.
in Schedule HI, item 5(l), ‘‘Other trading revenues due to changes in Board of Governors of the Federal Reserve
noninterest income,’’ or item 7(d), credit and debit valuation adjustments System, September 2, 2016.
‘‘Other noninterest expense,’’ as was not proposed on the FR Y–9C Robert deV. Frierson,
appropriate, unless the event or report. The Federal Reserve reviewed Secretary of the Board.
transaction would otherwise be this information and determined that [FR Doc. 2016–21597 Filed 9–7–16; 8:45 am]
reportable in another item of Schedule the proposed changes are not necessary
BILLING CODE 6210–01–P
HI. for the FR Y–9C and that the current
Consistent with the elimination of the information is adequate to meet the
concept of extraordinary items in ASU Federal Reserve’s supervisory needs. FEDERAL RESERVE SYSTEM
2015–01, the Federal Reserve proposed Board of Governors of the Federal Reserve
to revise the instructions for Schedule System, September 1, 2016. Change in Bank Control Notices;
HI, item 11, and remove the term Robert deV. Frierson, Formations of, Acquisitions by, and
‘‘extraordinary items’’ and revise the Secretary of the Board. Mergers of Bank Holding Companies;
captions for Schedule HI, item 8, [FR Doc. 2016–21524 Filed 9–7–16; 8:45 am] Correction
‘‘Income (loss) before income taxes and BILLING CODE 6210–01–P
extraordinary items and other This notice corrects a notice (FR Doc.
adjustments,’’ item 10, ‘‘Income (loss) 2016–21009) published on pages 60354
before extraordinary items and other FEDERAL RESERVE SYSTEM of the issue for Thursday, September 1,
adjustments’’ and item 11, 2016.
‘‘Extraordinary items and other Formations of, Acquisitions by, and Under the Federal Reserve Bank of
adjustment, net of income taxes Mergers of Bank Holding Companies Chicago heading, the entry for The
effective March 31, 2016. After the Stephen L. LaFrance, Jr. GW
concept of extraordinary items has been The companies listed in this notice Investments Trust, the Jason P.
eliminated and such items would no have applied to the Board for approval, LaFrance GW Investments Trust, the
longer be reportable in Schedule HI, pursuant to the Bank Holding Company Amy Beth LaFrance GW Investments
item 11, only the results of discontinued Act of 1956 (12 U.S.C. 1841 et seq.) Trust, all of Little Rock, Arkansas,
operations would be reportable in item (BHC Act), Regulation Y (12 CFR part Stephen L. LaFrance, Jr., Little Rock,
11. Accordingly, effective March 31, 225), and all other applicable statutes Arkansas, as trustee of the Stephen L.
2016, the revised captions for Schedule and regulations to become a bank LaFrance, Jr. GW Investments Trust and
HI, items 8, 10 and 11 would become holding company and/or to acquire the co-trustee of the Jason P. LaFrance GW
‘‘Income (loss) before income taxes and assets or the ownership of, control of, or Investments Trust, and Jason P.
discontinued operations,’’ ‘‘Income the power to vote shares of a bank or LaFrance, Little Rock, Arkansas, as co-
(loss) before discontinued operations,’’ bank holding company and all of the trustee of the Jason P. LaFrance GW
and ‘‘discontinued operations, net of banks and nonbanking companies Investments Trust and as trustee of the
applicable income taxes’’ respectively. owned by the bank holding company, Amy Beth LaFrance GW Investments
The captions for Schedule HI, including the companies listed below. Trust and the Amy LaFrance Bancroft
The applications listed below, as well GW Investments Revocable Trust, Little
memorandum items 2 and 8, and items
as other related filings required by the Rock, Arkansas is revised to read as
8 and 11 on the Predecessor Financial
Board, are available for immediate follows:
Items and applicable Glossary
inspection at the Federal Reserve Bank A. Federal Reserve Bank of Chicago
references would also be revised to
indicated. The applications will also be (Colette A. Fried, Assistant Vice
eliminate the concept of extraordinary
available for inspection at the offices of President) 230 South LaSalle Street,
items.
No comments were received on the the Board of Governors. Interested Chicago, Illinois 60690–1414:
persons may express their views in 1. The Stephen L. LaFrance, Jr. GW
mstockstill on DSK3G9T082PROD with NOTICES
planned changes related to
extraordinary items. Accordingly, writing on the standards enumerated in Investments Trust, the Jason P.
effective September 30, 2016, the the BHC Act (12 U.S.C. 1842(c)). If the LaFrance GW Investments Trust, the
captions for Schedule HI, items 8, 10, proposal also involves the acquisition of Amy Beth LaFrance GW Investments
a nonbanking company, the review also Trust, all of Little Rock, Arkansas,
6 Early adoption of ASU 2015–01 is permitted includes whether the acquisition of the Stephen L. LaFrance, Jr., Little Rock,
provided that the guidance is applied from the nonbanking company complies with the Arkansas, as trustee of the Stephen L.
beginning of the fiscal year of adoption. standards in section 4 of the BHC Act LaFrance, Jr. GW Investments Trust and
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Document Created: 2018-02-09 13:12:42
Document Modified: 2018-02-09 13:12:42
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 81 FR 62135 |
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