82 FR 840 - Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company

FEDERAL RESERVE SYSTEM

Federal Register Volume 82, Issue 2 (January 4, 2017)

Page Range		840-840
FR Document		2016-31914

Federal Register, Volume 82 Issue 2 (Wednesday, January 4, 2017)

[Federal Register Volume 82, Number 2 (Wednesday, January 4, 2017)]
[Notices]
[Page 840]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-31914]


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FEDERAL RESERVE SYSTEM


Change in Bank Control Notices; Acquisitions of Shares of a Bank 
or Bank Holding Company

    The notificants listed below have applied under the Change in Bank 
Control Act (12 U.S.C. 1817(j)) and Sec.  225.41 of the Board's 
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank 
holding company. The factors that are considered in acting on the 
notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).
    The notices are available for immediate inspection at the Federal 
Reserve Bank indicated. The notices also will be available for 
inspection at the offices of the Board of Governors. Interested persons 
may express their views in writing to the Reserve Bank indicated for 
that notice or to the offices of the Board of Governors. Comments must 
be received not later than January 18, 2017.
    A. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant 
Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001:
    1. The Bryant James Gingrich 2012 Irrevocable Trust, the Bryant 
James Gingrich 2016 Irrevocable Trust, and Bryant James Gingrich, 
acting in his capacity as trustee of both trusts, all of Alva, 
Oklahoma; the Chad Wisdom McManus 2012 Irrevocable Trust, the Chad 
Wisdom McManus 2016 Irrevocable Trust, and Chad Wisdom McManus, acting 
in his capacity as trustee of both trusts, all of Enid, Oklahoma; and 
the Kelsey Grace Gingrich 2012 Irrevocable Trust, the Kelsey Grace 
Hunter 2016 Irrevocable Trust, and Kelsey Grace Hunter (n[eacute]e 
Gingrich), acting in her capacity as trustee of both trusts, all of 
Edmond, Oklahoma; to acquire voting shares of Grace Investment Company, 
Inc., Alva, Oklahoma, and thereby join the existing Peggy J. Wisdom 
Family Control Group previously approved to control 25 percent or more 
of the voting shares of Grace Investment Company, Inc. Grace Investment 
Company, Inc. is the parent holding company of Alva State Bank and 
Trust Company, Alva, Oklahoma; First National Bank in Okeene, Okeene, 
Oklahoma; and The First State Bank, Kiowa, Kansas.

    Board of Governors of the Federal Reserve System, December 29, 
2016.
Yao-Chin Chao,
Assistant Secretary of the Board.
[FR Doc. 2016-31914 Filed 1-3-17; 8:45 am]
 BILLING CODE 6210-01-P

840 Federal Register / Vol. 82, No. 2 / Wednesday, January 4, 2017 / Notices

nonbanking company complies with the Chad Wisdom McManus 2016 600 Pennsylvania Ave. NW., Mailstop
standards in section 4 of the BHC Act Irrevocable Trust, and Chad Wisdom CC–8232, Washington, DC 20580.
(12 U.S.C. 1843). Unless otherwise McManus, acting in his capacity as SUPPLEMENTARY INFORMATION: The FTC
noted, nonbanking activities will be trustee of both trusts, all of Enid, IoT Home Inspector Challenge (the
conducted throughout the United States. Oklahoma; and the Kelsey Grace ‘‘Contest’’) encourages the public to
Unless otherwise noted, comments Gingrich 2012 Irrevocable Trust, the create a tool that consumers can deploy
regarding each of these applications Kelsey Grace Hunter 2016 Irrevocable to guard against security vulnerabilities
must be received at the Reserve Bank Trust, and Kelsey Grace Hunter (née in software on the IoT devices in their
indicated or the offices of the Board of Gingrich), acting in her capacity as homes. The tool would, at a minimum,
Governors not later than January 27, trustee of both trusts, all of Edmond, help protect consumers from security
2017. Oklahoma; to acquire voting shares of vulnerabilities caused by out–of-date
A. Federal Reserve Bank of St. Louis Grace Investment Company, Inc., Alva, software. The competition’s purpose is
(David L. Hubbard, Senior Manager) Oklahoma, and thereby join the existing to stimulate innovation and progress in
P.O. Box 442, St. Louis, Missouri Peggy J. Wisdom Family Control Group protecting and empowering consumers
63166–2034. Comments can also be sent previously approved to control 25 against security risks associated with
electronically to percent or more of the voting shares of IoT devices in the home.
Comments.applications@stls.frb.org: Grace Investment Company, Inc. Grace
1. American Pacific Bancorp, Inc., A. Background
Investment Company, Inc. is the parent
Harrisburg, Illinois; to become a bank holding company of Alva State Bank Every day, American consumers use
holding company by acquiring 67 and Trust Company, Alva, Oklahoma; Internet-connected devices 1 to make
percent of Main Street Bancshares, Inc., First National Bank in Okeene, Okeene, their homes ‘‘smarter.’’ Consumers can
Harrisburg, Illinois, and thereby Oklahoma; and The First State Bank, remotely program their smart home
indirectly acquiring Grand Rivers Kiowa, Kansas. devices to turn on their lights, start the
Community Bank, Grand Chain, Illinois. oven, and turn on soft music so they
Board of Governors of the Federal Reserve
Board of Governors of the Federal Reserve return to a comfortable environment
System, December 29, 2016.
System, December 29, 2016. when they get home from work. Smart
Yao-Chin Chao,
Yao-Chin Chao, video monitors enable consumers to
Assistant Secretary of the Board. remotely view their homes, pets, or
Assistant Secretary of the Board. [FR Doc. 2016–31914 Filed 1–3–17; 8:45 am] children. Smart fire and burglar alarms
[FR Doc. 2016–31913 Filed 1–3–17; 8:45 am]
BILLING CODE 6210–01–P address safety issues through sensors
BILLING CODE 6210–01–P
and alerts. And smart thermostats can
automatically adjust temperature
FEDERAL TRADE COMMISSION settings depending on the time of day
FEDERAL RESERVE SYSTEM
and presence of people in the house. To
Change in Bank Control Notices; IoT Home Inspector Challenge tie all these devices together, smart
Acquisitions of Shares of a Bank or AGENCY: Federal Trade Commission. home platforms are also beginning to
Bank Holding Company proliferate across the marketplace.
ACTION: Notice; public challenge. While these smart devices enable
The notificants listed below have SUMMARY: The Federal Trade enormous convenience and safety
applied under the Change in Bank Commission (‘‘FTC’’) announces a prize benefits, they can also create security
Control Act (12 U.S.C. 1817(j)) and competition that challenges the public risks. For example, press reports from
§ 225.41 of the Board’s Regulation Y (12 to create a technical solution (‘‘tool’’) October 2016 demonstrated how smart
CFR 225.41) to acquire shares of a bank that consumers can deploy to guard devices could be used in ‘‘botnets’’ to
or bank holding company. The factors against security vulnerabilities in disrupt the Internet.2 This incident
that are considered in acting on the software on the Internet of Things demonstrated that lax IoT device
notices are set forth in paragraph 7 of (‘‘IoT’’) devices in their homes. The tool security can threaten not just device
the Act (12 U.S.C. 1817(j)(7)). would, at a minimum, help protect owners, but the entire Internet. In
The notices are available for another incident, a group of hackers
consumers from security vulnerabilities
immediate inspection at the Federal allegedly gained unauthorized access to
caused by out-of-date software.
Reserve Bank indicated. The notices routers manufactured by the tech
Contestants have the option of adding
also will be available for inspection at company ASUS and left a text file
features, such as those that would
the offices of the Board of Governors. warning stating, ‘‘Your Asus router (and
address hard-coded, factory default or
Interested persons may express their your documents) can be accessed by
easy-to-guess passwords. The prize for
views in writing to the Reserve Bank anyone in the world with an internet
the competition is up to $25,000, with
indicated for that notice or to the offices connection.’’ 3 The FTC announced a
$3,000 available for each honorable
of the Board of Governors. Comments
mention winner(s). Winners will be
must be received not later than January 1 As used herein, ‘‘Internet-connected,’’ ‘‘IoT,’’ or
announced on or about July 27, 2017. ‘‘smart’’ devices are devices other than desktop or
18, 2017.
DATES: The deadline for registering and laptop computers or smartphones.
A. Federal Reserve Bank of Kansas 2 See, e.g., ‘‘Americans uneasy with IoT devices
City (Dennis Denney, Assistant Vice submitting entries is May 22, 2017 at
like those used in Dyn DDoS attack, survey finds,’’
President) 1 Memorial Drive, Kansas 12:00 p.m. EDT. Further instructions Tech Crunch, Darrell Etherington (October 24,
City, Missouri 64198–0001: and requirements regarding the 2016) (stating that a ‘‘coordinated botnet attack
mstockstill on DSK3G9T082PROD with NOTICES

1. The Bryant James Gingrich 2012 registration and submission process will effectively choked internet access to a large number
of popular sites’’ and was attributed ‘‘in large part
Irrevocable Trust, the Bryant James be provided on the Contest Web site due to the spread of connected Internet of Things
Gingrich 2016 Irrevocable Trust, and (ftc.gov/iothomeinspector). (IoT) devices’’), available at https://
Bryant James Gingrich, acting in his FOR FURTHER INFORMATION CONTACT: techcrunch.com/2016/10/24/americans-uneasy-
with-iot-devices-like-those-used-in-dyn-ddos-attack-
capacity as trustee of both trusts, all of Ruth Yodaiken, 202–326–2127, Division survey-finds/.
Alva, Oklahoma; the Chad Wisdom of Privacy and Identity Protection, 3 ‘‘ASUS Settles FTC Charges That Insecure Home

McManus 2012 Irrevocable Trust, the Bureau of Consumer Protection, FTC; Routers and ‘‘Cloud’’ Services Put Consumers’

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Document Created: 2017-01-04 00:29:18
Document Modified: 2017-01-04 00:29:18

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 840