82 FR 31329 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 128 (July 6, 2017)

Page Range		31329-31330
FR Document		2017-14209

Federal Register, Volume 82 Issue 128 (Thursday, July 6, 2017)

[Federal Register Volume 82, Number 128 (Thursday, July 6, 2017)]
[Notices]
[Pages 31329-31330]
From the Federal Register Online  [www.thefederalregister.org]
[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 
[email protected]:
    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 [email protected]:
    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 [email protected]:
    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

Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices 31329

States, which is followed closely by Rates (FR 2420; OMB No. 7100–0357), These memoranda items were added
other government agencies, the banking which collects transaction-level data, to the FR 2644 reporting form as of
industry, the financial press, and other including counterparty information, for January 7, 2015, due to increasing
users. The H.8 release provides a both federal funds purchased and other interest in the health of small business
balance sheet for the banking industry borrowings. Therefore, the Board lending and the lack of other timely
as a whole and data disaggregated by its recommends dropping the counterparty sources of information. The
large domestic, small domestic, and detail from the FR 2644 report. recommendation to discontinue the
foreign-related bank components. collection of these data items is based
Proposed revisions: The Board Replace Item 8 With New Item 8.b
on three factors:
proposes several revisions to simplify The Board proposes to replace Total (1) The new FFIEC 051 Call Report for
and reduce the overall reporting burden deposits (item 8) with All other deposits eligible small banks with assets less
associated with the FR 2644 report. The (item 8.b). This new item will consist of than $1 billion will require only
proposed FR 2644 reporting form would all deposits other than time deposits of semiannual reporting (June and
consist of 29 balance-sheet items and 2 $100,000 or more. The Board assesses December) for the related Call Report
memoranda items, an overall reduction that reporting accuracy will be higher if data items. This new Call Report was
of six data items. banks report the two pieces of total implemented as of March 31, 2017.
deposits separately, rather than Semiannual, rather than quarterly,
Combine Asset Items 3.a and 3.b Into reporting total deposits and time
One Data Item, and Liability Items 9.a reporting by three-fourths of the
deposits of $100,000 or more, a subset domestic banks in the universe would
and 9.b Into One Data Item of the former. The Board believes that severely limit the Board’s ability to
The Board proposes to combine (1) this small change will reduce the estimate universe data from the weekly
Federal funds sold and securities incidence of misreporting, leading to sample FR 2644 data and to sufficiently
purchased under agreements to resell fewer edit failures and less need for benchmark those estimates, leading to
with commercial banks in the U.S. explanatory contact with respondents. deterioration in the universe estimates.
(including U.S. branches and agencies (2) During the development of the
of foreign banks) (item 3.a) and (2) Proposed Elimination of Data Items
FFIEC 051, both in-person conversations
Federal funds sold and securities The Board proposes to stop separately with bankers and their comments in
purchased under agreements to resell collecting two data items related to response to the associated Federal
with others (including nonbank brokers banks’ derivative and other trading Register notices identified these items
and dealers in securities and FHLB) activities: (1) Trading assets, other than as among the most burdensome for
(item 3.b) into one new item: Federal securities and loans included above banks to provide, in some cases
funds sold and securities purchased (item 5) and (2) Trading liabilities (item requiring manual intervention to do so.
under agreements to resell (item 3) and 10). Data item 5 would be included in (3) Many of the panel respondents,
to combine (1) Borrowings (including All other assets (item 6.b), while data including most of the largest banks,
federal funds purchased and securities item 10 would be rolled into All other repeat their latest quarterly Call Report
sold under agreements to repurchase liabilities (including subordinated notes figures for these data items. This
and other borrowed money) from and debentures) (item 11.b). Successive practice does not provide the Board
commercial banks in the U.S. (including data items would be renumbered as with the more up-to-date information
U.S. branches and agencies of foreign appropriate. that it had been seeking.
banks) (item 9.a) and (2) Borrowings During the 2015 renewal of the FR Legal authorization and
(including federal funds purchased and 2644, derivatives with positive and confidentiality: The FR 2644 is
securities sold under agreements to negative fair values, items 5.a and 10.a, authorized by section 2A and 11(a)(2) of
repurchase and other borrowed money) the major components of trading assets the Federal Reserve Act (12 U.S.C.
from others (including FRB and FHLB) and trading liabilities respectively, were 225(a) and 248(a)(2)) and by section
(item 9.b) into one new item: dropped from the reporting form. 7(c)(2) of the International Banking Act
Borrowings (including federal funds Weekly changes in the total items could (12 U.S.C. 3105(c)(2)) and is voluntary.
purchased and securities sold under reasonably be attributed to movements Individual respondent data are regarded
agreements to repurchase and other in derivatives, since they accounted for as confidential under the Freedom of
borrowed money) (item 9). the preponderance of the trading items. Information Act (5 U.S.C. 552(b)(4)).
Counterparty-level detail on federal However, in the intervening period, the
Board of Governors of the Federal Reserve
funds sold and securities purchased Board has assessed that the benefits of
System, June 29, 2017.
under agreements to resell (federal collecting the two trading assets and
Ann E. Misback,
funds) has been collected from large liabilities items separately, in terms of
banks since mid-1969 and from small analytical usefulness, do not exceed the Secretary of the Board.
banks since July 2009. Similar costs of collection. [FR Doc. 2017–14140 Filed 7–5–17; 8:45 am]
information for borrowings has been The Board also proposes to stop BILLING CODE 6210–01–P
reported by both large and small banks collecting two memoranda items: (1)
since October 1996. In the H.8 release, Loans to small businesses amount
federal funds sold to commercial banks currently outstanding of ‘‘Loans secured FEDERAL RESERVE SYSTEM
have been included in interbank loans by nonfarm nonresidential properties’’
Formations of, Acquisitions by, and
and federal funds sold to others have with original amounts of $1,000,000 or
Mergers of Bank Holding Companies
less (included in item 4.a.(5) above)
sradovich on DSK3GMQ082PROD with NOTICES

been included in non-core loans as part
of other loans and leases. (item M.2 a) and (2) Loans to small The companies listed in this notice
These asset/liability breakdowns have businesses amount currently have applied to the Board for approval,
provided useful information on outstanding of ‘‘Commercial and pursuant to the Bank Holding Company
counterparties, especially during the industrial loans to U.S. addressees’’ Act of 1956 (12 U.S.C. 1841 et seq.)
financial crisis. However, this with original amounts of $1,000,000 or (BHC Act), Regulation Y (12 CFR part
information may now be obtained from less (included in item 4.c above) (item 225), and all other applicable statutes
the Report of Selected Money Market M.2. b). and regulations to become a bank

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31330 Federal Register / Vol. 82, No. 128 / Thursday, July 6, 2017 / Notices

holding company and/or to acquire the D. Federal Reserve Bank of Chicago that corresponds with ‘‘Information
assets or the ownership of, control of, or (Colette A. Fried, Assistant Vice Collection 3090–0118, Statement of
the power to vote shares of a bank or President) 230 South LaSalle Street, Witness, SF 94.’’ Follow the instructions
bank holding company and all of the Chicago, Illinois 60690–1414: provided at the ‘‘Submit a Comment’’
banks and nonbanking companies 1. First Busey Corporation, screen. Please include your name,
owned by the bank holding company, Champaign, Illinois; to merge with Mid company name (if any), and
including the companies listed below. Illinois Bancorp, Inc., Peoria, Illinois, ‘‘Information Collection 3090–0118,
The applications listed below, as well and thereby indirectly acquire South Statement of Witness, SF 94’’ on your
as other related filings required by the Side Trust & Savings Bank, Peoria, attached document.
Board, are available for immediate Illinois. • Mail: General Services
inspection at the Federal Reserve Bank Board of Governors of the Federal Reserve Administration, Regulatory Secretariat
indicated. The applications will also be System, June 30, 2017. Division (MVCB), 1800 F Street NW.,
available for inspection at the offices of Yao-Chin Chao, Washington, DC 20405. ATTN: Ms.
the Board of Governors. Interested Sosa/IC 3090–0118, Statement of
Assistant Secretary of the Board.
persons may express their views in Witness, SF 94.
[FR Doc. 2017–14209 Filed 7–5–17; 8:45 am]
writing on the standards enumerated in Instructions: Please submit comments
BILLING CODE 6210–01–P only and cite Information Collection
the BHC Act (12 U.S.C. 1842(c)). If the
proposal also involves the acquisition of 3090–0118, Statement of Witness, SF
a nonbanking company, the review also 94, in all correspondence related to this
includes whether the acquisition of the GENERAL SERVICES collection. Comments received generally
nonbanking company complies with the ADMINISTRATION will be posted without change to http://
standards in section 4 of the BHC Act www.regulations.gov, including any
[OMB Control No. 3090–0118; Docket 2017–
(12 U.S.C. 1843). Unless otherwise 0001; Sequence 2]
personal and/or business confidential
noted, nonbanking activities will be information provided. To confirm
conducted throughout the United States. Submission for OMB Review; receipt of your comment(s), please
Unless otherwise noted, comments Statement of Witness, Standard Form check www.regulations.gov,
regarding each of these applications 94 approximately two to three days after
must be received at the Reserve Bank submission to verify posting (except
indicated or the offices of the Board of AGENCY: Federal Vehicle Policy allow 30 days for posting of comments
Governors not later than August 1, 2017. Division, General Services submitted by mail).
A. Federal Reserve Bank of Boston Administration (GSA). SUPPLEMENTARY INFORMATION:
(Prabal Chakrabarti, Senior Vice ACTION: Notice of a request for
comments regarding a reinstatement, A. Purpose
President) 600 Atlantic Avenue, Boston,
Massachusetts 02210–2204. Comments with change, to an OMB clearance. GSA is requesting the Office of
can also be sent electronically to Management and Budget (OMB) to
SUMMARY: Under the provisions of the review and approve a reinstatement,
BOS.SRC.Applications.Comments@
Paperwork Reduction Act of 1995, GSA with change, to information collection,
bos.frb.org:
has submitted to the Office of 3090–0118, Statement of Witness, SF
1. SI Financial Group, Inc.,
Management and Budget (OMB) a 94. The forms are used by all Federal
Willimantic, Connecticut; to become a
request to review and approve a agencies to report accident information
bank holding company in association
reinstatement, with change, to an involving U.S. Government motor
with the revocation of its 10(1) election.
information collection requirement vehicles.
SI Financial Group owns Savings
concerning Standard Form (SF) 94,
Institute Bank and Trust Company, B. Annual Reporting Burden
Statement of Witness. A notice was
Willimantic, Connecticut.
published in the Federal Register at 82 Respondents: 874.
B. Federal Reserve Bank of Cleveland
FR 19722, on April 28, 2017. No Responses per Respondent: 1.
(Nadine Wallman, Vice President) 1455 Total Annual Responses: 874.
comments were received.
East Sixth Street, Cleveland, Ohio Hours per response: .333.
44101–2566. Comments can also be sent DATES: Submit comments on or before
August 7, 2017. Total Burden Hours: 291.
electronically to
Comments.applications@clev.frb.org: FOR FURTHER INFORMATION CONTACT: Ray C. Public Comment
1. Wayne Savings Bancshares, Inc., Wynter, Federal Vehicle Policy Public comments are particularly
Wooster, Ohio; to become a bank Division, at 202–501–3802, or email invited on: Whether this collection of
holding company by acquiring 100 ray.wynter@gsa.gov. information is necessary and whether it
percent of the voting shares of Wayne ADDRESSES: Submit comments regarding will have practical utility; whether our
Savings Community Bank, Wooster, this burden estimate or any other aspect estimate of the public burden of this
Ohio, upon its conversion to a of this collection of information, collection of information is accurate,
commercial bank. including suggestions for reducing this and based on valid assumptions and
C. Federal Reserve Bank of Atlanta burden to: Office of Information and methodology; ways to enhance the
(Chapelle Davis, Assistant Vice Regulatory Affairs of OMB, Attention: quality, utility, and clarity of the
President) 1000 Peachtree Street NE., Desk Officer for GSA, Room 10236, information to be collected.
Atlanta, Georgia 30309. Comments can NEOB, Washington, DC 20503. Obtaining Copies of Proposals:
sradovich on DSK3GMQ082PROD with NOTICES

also be sent electronically to Additionally submit a copy to GSA by Requesters may obtain a copy of the
Applications.Comments@atl.frb.org: any of the following methods: information collection documents from
1. Seacoast Banking Corporation of • Regulations.gov: http:// the General Services Administration,
Florida, Stuart, Florida; to merge with www.regulations.gov. Submit comments Regulatory Secretariat Division (MVCB),
NorthStar Banking Corporation, and via the Federal eRulemaking portal by 1800 F Street NW., Washington, DC
thereby indirectly acquire NorthStar searching the OMB control number. 20405, telephone 202–501–4755. Please
Bank, both of Tampa, Florida. Select the link ‘‘Submit a Comment’’ cite OMB Control No. 3090–0118,

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Document Created: 2017-07-06 01:05:15
Document Modified: 2017-07-06 01:05:15

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		82 FR 31329