83 FR 19064 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 84 (May 1, 2018)

Page Range		19064-19065
FR Document		2018-09082

Federal Register, Volume 83 Issue 84 (Tuesday, May 1, 2018)

[Federal Register Volume 83, Number 84 (Tuesday, May 1, 2018)]
[Notices]
[Pages 19064-19065]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09082]


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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 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 May 25, 2018.
    A. Federal Reserve Bank of Atlanta (Kathryn Haney, Director of 
Applications) 1000 Peachtree Street NE, Atlanta, Georgia 30309. 
Comments can also be sent electronically to 
[email protected]:
    1. PBD Holdings, LLC, Chattanooga, Tennessee; to become a bank 
holding company by acquiring outstanding shares of Millennium 
Bancshares, Inc., Ooltewah, Tennessee, and thereby acquire shares of 
Millennium Bank, Ooltewah, Tennessee and AB&T Financial Corporation, 
and thereby acquire shares of Alliance Bank and Trust Company, both of 
Gastonia, North Carolina.


[[Page 19065]]


    Board of Governors of the Federal Reserve System, April 25, 
2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018-09082 Filed 4-30-18; 8:45 am]
BILLING CODE P

19064 Federal Register / Vol. 83, No. 84 / Tuesday, May 1, 2018 / Notices

would likely cause substantial harm to Information collected in these reports Board of Governors of the Federal Reserve
the competitive position of the generally is not considered confidential. System, April 25, 2018.
respondent. (5 U.S.C. 552(b)(4)). However, because the information is Ann Misback,
Additionally, individual respondents collected as part of the Board’s Secretary of the Board.
may request that personally identifiable supervisory process, certain information [FR Doc. 2018–09083 Filed 4–30–18; 8:45 am]
information be afforded confidential may be afforded confidential treatment BILLING CODE 6210–01–P
treatment pursuant to exemption 6 of pursuant to exemption 8 of FOIA. (5
FOIA if the release of the information U.S.C. 552(b)(8)). Individual
would constitute a clearly unwarranted respondents may request that certain FEDERAL RESERVE SYSTEM
invasion of personal privacy. (5 U.S.C. data be afforded confidential treatment
552(b)(6)). The applicability of FOIA pursuant to exemption 4 of FOIA if the Formations of, Acquisitions by, and
exemptions 4 and 6 would be data has not previously been publically Mergers of Bank Holding Companies
determined on a case-by-case basis. disclosed and the release of the data
3. Report title: The Financial would likely cause substantial harm to The companies listed in this notice
Statements of U.S. Nonbank the competitive position of the have applied to the Board for approval,
Subsidiaries Held by Foreign Banking respondent. (5 U.S.C. 552(b)(4)). pursuant to the Bank Holding Company
Organizations, Abbreviated Financial Additionally, individual respondents Act of 1956 (12 U.S.C. 1841 et seq.)
Statements of U.S. Nonbank may request that personally identifiable (BHC Act), Regulation Y (12 CFR part
Subsidiaries Held by Foreign Banking information be afforded confidential 225), and all other applicable statutes
Organizations, and the Capital and treatment pursuant to exemption 6 of and regulations to become a bank
Asset Report of Foreign Banking FOIA if the release of the information holding company and/or to acquire the
Organizations. would constitute a clearly unwarranted assets or the ownership of, control of, or
Agency form number: FR Y–7N, FR invasion of personal privacy. (5 U.S.C. the power to vote shares of a bank or
Y–7NS, and FR Y–7Q. 552(b)(6)). The applicability of FOIA bank holding company and all of the
OMB control number: 7100–0125. exemptions 4 and 6 would be banks and nonbanking companies
Frequency: Quarterly and annually. determined on a case-by-case basis. owned by the bank holding company,
Reporters: Foreign bank organizations Proposed revisions: Under the including the companies listed below.
(FBOs). proposal, revisions would be made to The applications listed below, as well
Estimated annual reporting hours: FR the FR Y–11, FR 2314, and FR Y–7N as other related filings required by the
Y–7N (quarterly): 1,224; FR Y–7N report forms and instructions that are Board, are available for immediate
(annual): 156; FR Y–7NS: 31; FR Y–7Q consistent with certain changes to the inspection at the Federal Reserve Bank
(quarterly): 1,632; FR Y–7Q (annual): 48. FR Y–9 family of reports (OMB No. indicated. The applications will also be
Estimated average hours per response: 7100–0128) and the Federal Financial available for inspection at the offices of
FR Y–7N (quarterly): 6.8; FR Y–7N Institutions Examination Council the Board of Governors. Interested
(annual): 6.8; FR Y–7NS: 1; FR Y–7Q (FFIEC) Consolidated Reports of persons may express their views in
(quarterly): 3; FR Y–7Q (annual): 1.5. Condition and Income (Call Reports) writing on the standards enumerated in
Number of respondents: FR Y–7N (FFIEC 031, 041, and 051; OMB No. the BHC Act (12 U.S.C. 1842(c)). If the
(quarterly): 45; FR Y–7N (annual): 23 FR 7100–0036).1 Specifically, the proposed proposal also involves the acquisition of
Y–7NS: 31; FR Y–7Q (quarterly): 136; changes would (1) add a new data item a nonbanking company, the review also
FR Y–7Q (annual): 32. to the balance sheet to separate and includes whether the acquisition of the
General Description of Report: The FR reclassify equity securities with readily nonbanking company complies with the
Y–7N and the FR Y–7NS are used to determinable fair values from the standards in section 4 of the BHC Act
assess an FBO’s ability to be a ‘‘available for sale’’ category in (12 U.S.C. 1843). Unless otherwise
continuing source of strength to its U.S. accordance with Accounting Standards noted, nonbanking activities will be
operations and to determine compliance update (ASU) No. 2016–01, conducted throughout the United States.
with U.S. laws and regulations. FBOs ‘‘Recognition and Measurement of
Unless otherwise noted, comments
file the FR Y– 7N quarterly or annually Financial Assets and Financial
regarding each of these applications
or the FR Y– 7NS annually Liabilities,’’ and (2) add new data items
must be received at the Reserve Bank
predominantly based on asset size to the income statement to reflect the
indicated or the offices of the Board of
thresholds. The FR Y–7Q is used to proper reporting of income associated
Governors not later than May 25, 2018.
assess consolidated regulatory capital with these securities. These revisions
and asset information from all FBOs. would be effective for reports reflecting A. Federal Reserve Bank of Atlanta
The FR Y–7Q is filed quarterly by FBOs the June 30, 2018, report date. The (Kathryn Haney, Director of
that have effectively elected to become Board is not proposing any revisions to Applications) 1000 Peachtree Street NE,
or be treated as a U.S. financial holding the Abbreviated Financial Statements of Atlanta, Georgia 30309. Comments can
company (FHC) and by FBOs that have U.S. Nonbank Subsidiaries of U.S. Bank also be sent electronically to
total consolidated assets of $50 billion Holding Companies (FR Y–11S), the Applications.Comments@atl.frb.org:
or more, regardless of FHC status. All Abbreviated Financial Statements of 1. PBD Holdings, LLC, Chattanooga,
other FBOs file the FR Y–7Q annually. Foreign Subsidiaries of U.S. Banking Tennessee; to become a bank holding
Legal authorization and Organizations (FR 2314S), the company by acquiring outstanding
confidentiality: With respect to FBOs Abbreviated Financial Statements of shares of Millennium Bancshares, Inc.,
amozie on DSK30RV082PROD with NOTICES

and their subsidiary IHCs, section 5(c) U.S. Nonbank Subsidiaries Held by Ooltewah, Tennessee, and thereby
of the BHC Act, in conjunction with Foreign Banking Organizations (FR Y– acquire shares of Millennium Bank,
section 8 of the International Banking 7NS), and the Capital and Asset Report Ooltewah, Tennessee and AB&T
Act (12 U.S.C. 3106), authorizes the for Foreign Banking Organizations (FR Financial Corporation, and thereby
board to require FBOs and any Y–7Q). acquire shares of Alliance Bank and
subsidiary thereof to file the FR Y–7N Trust Company, both of Gastonia, North
reports, and the FR Y–7Q. 1 See 83 Federal Register 939 (January 08, 2018). Carolina.

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Document Created: 2018-05-01 00:24:40
Document Modified: 2018-05-01 00:24:40

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		83 FR 19064