83 FR 54590 - Formations of, Acquisitions by, and Mergers of Bank Holding Companies
FEDERAL RESERVE SYSTEM Federal Register Volume 83, Issue 210 (October 30, 2018)
Federal Register Volume 83, Issue 210 (October 30, 2018)
| Page Range | 54590-54591 | |
| FR Document | 2018-23682 |
[Federal Register Volume 83, Number 210 (Tuesday, October 30, 2018)] [Notices] [Pages 54590-54591] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-23682] ======================================================================= ----------------------------------------------------------------------- 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 [[Page 54591]] must be received at the Reserve Bank indicated or the offices of the Board of Governors not later than November 27, 2018. A. Federal Reserve Bank of New York (Ivan Hurwitz, Vice President) 33 Liberty Street, New York, New York 10045-0001. Comments can also be sent electronically to Comments.applications@ny.frb.org: 1. The Adirondack Trust Company Employee Stock Ownership Trust, Saratoga Springs, New York; to acquire fifty additional shares of 473 Broadway Holding Corporation and two thousand additional shares of The Adirondack Trust Company, both of Saratoga Springs, New York. B. Federal Reserve Bank of Kansas City (Dennis Denney, Assistant Vice President) 1 Memorial Drive, Kansas City, Missouri 64198-0001: 1. Foote Financial Services, LLC, Hoxie, Kansas; to become a bank holding company by acquiring voting shares of Peoples State Bank, Manhattan, Kansas. Board of Governors of the Federal Reserve System, October 25, 2018. Yao-Chin Chao, Assistant Secretary of the Board. [FR Doc. 2018-23682 Filed 10-29-18; 8:45 am] BILLING CODE P
![54590 Federal Register / Vol. 83, No. 210 / Tuesday, October 30, 2018 / Notices
‘‘Minimum Standards of Fitness for Affected Public: Individuals and The number of PECs completed each
Employment with the Federal Deposit entities wishing to purchase year has been declining since 2009. If
Insurance Corporation’’. This rule receivership assets from the FDIC. this trend were to continue, the number
implements Section 19 of the Resolution Burden Estimate: There has been no of respondents would be expected to
Trust Corporation Completion Act change in the method or substance of continue to decrease from 369 over the
(‘‘Completion Act’’), Public Law 103– next three years, which would imply
this information collection. The Subject
204, by (among other things) prescribing that the estimated number of
Matter Experts (SMEs) from the FDIC’s
a certification, with attachments in respondents should be lower for this
some cases, relating to job applicants’ Division of Resolutions and collection compared to the one in 2015.
fitness and integrity. More specifically, Receiverships have estimated that this The SMEs have acknowledged that 600
the statute provides that the FDIC shall information collection will affect 600 respondents may be a conservative
issue regulations implementing respondents annually for the next three estimate, but also believe that it is
provisions that prohibit any person from years. This estimate is unchanged from reasonable. This rationale stems from
becoming employed by FDIC, who has 2015. The SMEs reached this estimate the fact that the current rate of bank
been convicted of any felony; has been by calculating the average number of failures is very low. The SMEs also
removed from, or prohibited from Purchaser Eligibility Certifications point out that the PECs are collected
participating in the affairs of, any (PECs) completed in the past three years from prospective purchasers and not
insured depository institution pursuant and rounding up. just the winning bidders. As a result, the
to any final enforcement action by any annual number of PECs could increase
appropriate federal banking agency; has Number of if there is an increase in the demand for
Year
demonstrated a pattern or practice of PECs 1 the assets the FDIC sells even if the
defalcation regarding obligations to number of assets for sale decreases in
2015 ...................................... 952
insured depository institutions; or has line with the current trend of
2016 ...................................... 468
caused a substantial loss to federal diminishing bank failures.
2017 ...................................... 369
deposit insurance funds. This collection The estimated hourly burden for this
of information implements these Total ............................... 1,789 information collection is 30 minutes per
mandatory bars to employment through PEC form. The SMEs have arrived at this
a certification, signed by job applicants Three-Year Average ............. 596.33 estimate through their personal
prior to an offer of employment using 1 SMEs
observations of individuals completing
form 2120/16. within the FDIC’s Division of Reso- these forms at open-outcry auction
lutions and Receiverships (DRR) compiled this
2. Title: Purchaser Eligibility information by the contacting the managers events. The table below contains
Certification. that handle each asset sales category (struc- estimates for the total estimated
OMB Number: 3064–0135. tured transactions, cash loan sales, other real reporting burden for this information
Form Number: 7300–06. estate sales, and securities sales). collection.
SUMMARY OF ANNUAL BURDEN
Total
Estimated Estimated Estimated time estimated
Type of burden number of frequency of per response annual
respondents responses (hrs) burden
(hrs)
Purchaser Eligibility Certification .......................... Reporting ...................... 600 1 0.50 300.00
Request for Comment Federal Deposit Insurance Corporation. banks and nonbanking companies
Robert E. Feldman, owned by the bank holding company,
Comments are invited on: (a) Whether Executive Secretary. including the companies listed below.
the collection of information is [FR Doc. 2018–23597 Filed 10–29–18; 8:45 am] The applications listed below, as well
necessary for the proper performance of as other related filings required by the
BILLING CODE 6714–01–P
the FDIC’s functions, including whether Board, are available for immediate
the information has practical utility; (b) inspection at the Federal Reserve Bank
the accuracy of the estimates of the indicated. The applications will also be
burden of the information collection, FEDERAL RESERVE SYSTEM available for inspection at the offices of
including the validity of the the Board of Governors. Interested
methodology and assumptions used; (c) Formations of, Acquisitions by, and
persons may express their views in
ways to enhance the quality, utility, and Mergers of Bank Holding Companies
writing on the standards enumerated in
clarity of the information to be The companies listed in this notice the BHC Act (12 U.S.C. 1842(c)). If the
collected; and (d) ways to minimize the have applied to the Board for approval, proposal also involves the acquisition of
burden of the collection of information pursuant to the Bank Holding Company a nonbanking company, the review also
on respondents, including through the Act of 1956 (12 U.S.C. 1841 et seq.) includes whether the acquisition of the
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use of automated collection techniques (BHC Act), Regulation Y (12 CFR part nonbanking company complies with the
or other forms of information 225), and all other applicable statutes standards in section 4 of the BHC Act
technology. All comments will become and regulations to become a bank (12 U.S.C. 1843). Unless otherwise
a matter of public record. holding company and/or to acquire the noted, nonbanking activities will be
assets or the ownership of, control of, or conducted throughout the United States.
the power to vote shares of a bank or Unless otherwise noted, comments
bank holding company and all of the regarding each of these applications
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![Federal Register / Vol. 83, No. 210 / Tuesday, October 30, 2018 / Notices 54591
must be received at the Reserve Bank nonbanking company complies with the 5 U.S.C. 4314(c)(4) requires the
indicated or the offices of the Board of standards in section 10(c)(4)(B) of the appointment of board members to be
Governors not later than November 27, HOLA (12 U.S.C. 1467a(c)(4)(B)). Unless published in the Federal Register. The
2018. otherwise noted, nonbanking activities following persons comprise a standing
A. Federal Reserve Bank of New York will be conducted throughout the roster to serve as members of the SES
(Ivan Hurwitz, Vice President) 33 United States. PRB for the Centers for Medicare &
Liberty Street, New York, New York Unless otherwise noted, comments Medicaid Services:
10045–0001. Comments can also be sent regarding each of these applications Elisabeth Handley, Director, Office of
electronically to must be received at the Reserve Bank Human Capital (serves as the Chair)
Comments.applications@ny.frb.org: indicated or the offices of the Board of Demetrious Kouzoukas, Principal
1. The Adirondack Trust Company Governors not later than November 27, Deputy Administrator for Medicare
Employee Stock Ownership Trust, 2018. Karen Jackson, Deputy Chief Operating
Saratoga Springs, New York; to acquire A. Federal Reserve Bank of Officer
fifty additional shares of 473 Broadway Philadelphia (William Spaniel, Senior Jeffrey Wu, Deputy Director for
Holding Corporation and two thousand Vice President) 100 North 6th Street, Operations, Center for Consumer
additional shares of The Adirondack Philadelphia, Pennsylvania 19105– Information and Insurance Oversight
Trust Company, both of Saratoga 1521. Comments can also be sent Jean Moody-Williams, Deputy Center
Springs, New York. electronically to Comments. Director, Center for Clinical Standards
B. Federal Reserve Bank of Kansas applications@phil.frb.org: and Quality
City (Dennis Denney, Assistant Vice 1. WSFS Financial Corporation, Nancy O’Connor, Philadelphia Regional
President) 1 Memorial Drive, Kansas Wilmington, Delaware; to merge with Administrator
City, Missouri 64198–0001: Beneficial Bancorp, Inc., Philadelphia,
1. Foote Financial Services, LLC, Pennsylvania, and therefore indirectly Dated: October 16, 2018.
Hoxie, Kansas; to become a bank acquire shares of Beneficial Bank, Elisabeth Handley,
holding company by acquiring voting Philadelphia, Pennsylvania. WSFS Director, Office of Human Capital.
shares of Peoples State Bank, Financial Corporation has applied to [FR Doc. 2018–23814 Filed 10–29–18; 8:45 am]
Manhattan, Kansas. become a savings and loan holding BILLING CODE 4120–01–P
Board of Governors of the Federal Reserve company with respect to Beneficial
System, October 25, 2018. Bank’s conversion to a stock federal
Yao-Chin Chao, savings association. DEPARTMENT OF HEALTH AND
Assistant Secretary of the Board. Board of Governors of the Federal Reserve HUMAN SERVICES
[FR Doc. 2018–23682 Filed 10–29–18; 8:45 am] System, October 25, 2018.
Centers for Medicare & Medicaid
BILLING CODE P Yao-Chin Chao,
Services
Assistant Secretary of the Board.
[FR Doc. 2018–23683 Filed 10–29–18; 8:45 am]
FEDERAL RESERVE SYSTEM [CMS–3369–PN]
BILLING CODE P
Formations of, Acquisitions by, and Medicare and Medicaid Programs:
Mergers of Savings and Loan Holding Application From the American
Companies DEPARTMENT OF HEALTH AND Association for Accreditation of
HUMAN SERVICES Ambulatory Surgery Facilities, Inc.
The companies listed in this notice (AAAASF) for Continued CMS-
have applied to the Board for approval, Centers for Medicare & Medicaid Approval of Its Outpatient Physical
pursuant to the Home Owners’ Loan Act Services Therapy and Speech Language
(12 U.S.C. 1461 et seq.) (HOLA), Pathology Services Accreditation
Regulation LL (12 CFR part 238), and Performance Review Board
Membership Program
Regulation MM (12 CFR part 239), and
all other applicable statutes and AGENCY: Centers for Medicare & AGENCY: Centers for Medicare and
regulations to become a savings and Medicaid Services, HHS. Medicaid Services (CMS), HHS.
loan holding company and/or to acquire ACTION: Notice of Performance Review ACTION: Notice with request for
the assets or the ownership of, control Board Membership. comment.
of, or the power to vote shares of a
savings association and nonbanking FOR FURTHER INFORMATION CONTACT: SUMMARY: This proposed notice
companies owned by the savings and Kathy Vaughn, 410–786–1050 or acknowledges the receipt of an
loan holding company, including the katherine.vaughn@cms.hhs.gov. application from the American
companies listed below. SUMMARY: 5 U.S.C. 4314(c)(1) through Association for Accreditation of
The applications listed below, as well (5) requires each agency to establish, in Ambulatory Surgery Facilities, Inc.
as other related filings required by the accordance with regulations prescribed (AAAASF) for continued recognition as
Board, are available for immediate by the Office of Personnel Management, a national accrediting organization (AO)
inspection at the Federal Reserve Bank one or more Senior Executive Service for clinics, rehabilitation agencies, or
indicated. The application also will be (SES) Performance Review Boards. public health agencies that furnish
available for inspection at the offices of The PRB shall review and evaluate outpatient physical therapy and speech
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the Board of Governors. Interested the initial summary rating of a senior language pathology services that wish to
persons may express their views in executive’s performance, the executive’s participate in the Medicare or Medicaid
writing on the standards enumerated in response, and the higher-level official’s programs.
the HOLA (12 U.S.C. 1467a(e)). If the comments on the initial summary DATES: To be assured consideration,
proposal also involves the acquisition of rating. In addition, the PRB will review comments must be received at one of
a nonbanking company, the review also and recommend executive performance the addresses provided below, no later
includes whether the acquisition of the bonuses and pay increases. than 5 p.m. on November 29, 2018.
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Document Created: 2018-10-30 00:43:18
Document Modified: 2018-10-30 00:43:18
| 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 | 83 FR 54590 |
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