Notice2022-11070
Public Meeting: Proposal by Bank of Montreal and BMO Financial Corp. To Acquire BancWest Holding Inc. and Bank of the West, and for Bank of the West To Merge With and Into BMO Harris Bank National Association
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 24, 2022
Issuing agencies
Treasury DepartmentComptroller of the CurrencyFederal Reserve System
Abstract
A virtual public meeting will be held regarding the proposals by Bank of Montreal, Montreal, Quebec, Canada and BMO Financial Corp., Wilmington, Delaware, to acquire BancWest Holding Inc. and thereby indirectly acquire Bank of the West, both of San Francisco, California, pursuant to the Bank Holding Company Act; and for Bank of the West, San Francisco, California, to merge with and into BMO Harris Bank National Association, Chicago, Illinois, pursuant to the Bank Merger Act. The purpose of the meeting is to collect information related to factors the Board and OCC consider when making determinations under the Bank Holding Company Act and the Bank Merger Act.
Full Text
<html>
<head>
<title>Federal Register, Volume 87 Issue 100 (Tuesday, May 24, 2022)</title>
</head>
<body><pre>
[Federal Register Volume 87, Number 100 (Tuesday, May 24, 2022)]
[Notices]
[Pages 31561-31563]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-11070]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
FEDERAL RESERVE SYSTEM
Public Meeting: Proposal by Bank of Montreal and BMO Financial
Corp. To Acquire BancWest Holding Inc. and Bank of the West, and for
Bank of the West To Merge With and Into BMO Harris Bank National
Association
AGENCY: Board of Governors of the Federal Reserve System (Board) and
Office of the Comptroller of the Currency (OCC).
ACTION: Notice of public meeting.
-----------------------------------------------------------------------
SUMMARY: A virtual public meeting will be held regarding the proposals
by Bank of Montreal, Montreal, Quebec, Canada and BMO Financial Corp.,
Wilmington, Delaware, to acquire BancWest Holding Inc. and thereby
indirectly acquire Bank of the West, both of San Francisco, California,
pursuant to the Bank Holding Company Act; and for Bank of the West, San
Francisco, California, to merge with and into BMO Harris Bank National
Association, Chicago, Illinois, pursuant to the Bank Merger Act. The
purpose of the meeting is to collect information related to factors the
Board and OCC consider when making determinations under the Bank
Holding Company Act and the Bank Merger Act.
DATES: The meeting date is July 14, 2022, from 11:00 a.m. to 7:00 p.m.
Eastern Daylight Time (EDT). Members of the public seeking to make oral
comments during the virtual meeting must register by 12:00 p.m. EDT on
June 23, 2022, to be placed on a list of registered commenters and
receive specific instructions for participation. Members of the public
seeking to watch the virtual meeting (but not provide oral comments)
must register any time prior to 11:59 p.m. EDT on July 13, 2022.
FOR FURTHER INFORMATION CONTACT:
OCC: Jason Almonte, Director for Large Bank Licensing, Office of
the Comptroller of the Currency, 400 7th Street SW, Washington, DC
20219, via email at <a href="/cdn-cgi/l/email-protection#503a31233f3e7e313c3d3f3e2435103f33337e24223531237e373f26"><span class="__cf_email__" data-cfemail="751f14061a1b5b1419181a1b0110351a16165b01071014065b121a03">[email protected]</span></a>, or via telephone at
(917) 344-3405.
Federal Reserve: Colette A. Fried, Assistant Vice President,
Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago,
Illinois 60604, via email at <a href="/cdn-cgi/l/email-protection#03606c6f667777662d622d65716a666743606b6a2d6571612d6c7164"><span class="__cf_email__" data-cfemail="3a5955565f4e4e5f145b145c48535f5e7a595253145c48581455485d">[email protected]</span></a>, or via
telephone at 312-322-6846, or Lisa Smith, Lead Examiner--Mergers and
Acquisitions, Federal Reserve Bank of Chicago, 230 South LaSalle
Street, Chicago, Illinois 60604, via email at <a href="/cdn-cgi/l/email-protection#0e62677d6f206f207d63677a664e6d666720687c6c20617c69"><span class="__cf_email__" data-cfemail="80ece9f3e1aee1aef3ede9f4e8c0e3e8e9aee6f2e2aeeff2e7">[email protected]</span></a>,
or via
[[Page 31562]]
telephone at (515) 241-1477. For users who have hearing or speech
impairments, please call 711 from any telephone, anywhere in the United
States.
SUPPLEMENTARY INFORMATION:
I. Background and Public Meeting Notice
On January 17, 2022, BMO Harris Bank National Association, Chicago,
Illinois (BMO Harris Bank), applied to the OCC to merge Bank of the
West, San Francisco, California with and into BMO Harris Bank pursuant
to section 18(c) of the Federal Deposit Insurance Act (12 U.S.C.
1828(c)) (Bank Application). That same day, the Board received an
application from Bank of Montreal, Montreal, Canada, and BMO Financial
Corp., Wilmington, Delaware, to acquire BancWest Holding Inc., San
Francisco, California, parent of Bank of the West, pursuant to the Bank
Holding Company Act (12 U.S.C. 1841 et seq.) (Holding Company
Application). The Board and OCC (agencies) hereby announce that a
public meeting on the applications will be held, as described below.
II. Purpose and Procedures
The public meeting will be held virtually. A virtual meeting will
help protect the health and safety of all participants in light of the
continuing occurrence of COVID-19 cases. The virtual format also will
expand public access to the proceedings for both viewers and those who
testify, and it will reduce travel and related costs associated with
attending in-person proceedings.
The purpose of the public meeting is to collect information
relating to the factors that the agencies consider under the applicable
statutes in acting on the applications. These factors include the
effects of the proposal on the convenience and needs of the communities
to be served by the combined organization; the insured depository
institutions' performance under the Community Reinvestment Act; the
impact of the proposal on competition in the relevant markets; the
effects of the proposal on the stability of the U.S. banking or
financial system; the financial and managerial resources and future
prospects of the companies and banks involved in the proposal; and the
effectiveness of the companies and banks in combatting money laundering
activities. Witnesses may present oral testimony in support of the
proposed transactions, in opposition to the proposed transactions, or
without taking a position in support or opposition.
Testimony at the public meeting will be presented virtually to a
panel consisting of Presiding Officers and other panel members
appointed by the Presiding Officers. The Presiding Officers will have
the authority and discretion to ensure that the meeting proceeds in a
fair and orderly manner. The rules for taking evidence in an
administrative proceeding will not apply to the public meeting. In
general, the role of the panel members will be to listen to the oral
testimony. The panelists may ask questions of those who testify;
however, the questions generally will be limited to seeking
clarification of statements made. Panel members may question witnesses,
but no cross-examination of witnesses will be permitted. The public
meeting will be transcribed, and the transcript will be posted on the
respective public websites of the Board and the OCC.\1\
---------------------------------------------------------------------------
\1\ Materials related to the applications are available on the
Board's website at <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a> and the OCC's
website at <a href="https://occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html">https://occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html</a>.
---------------------------------------------------------------------------
Information for Persons Wishing To Testify
All persons wishing to testify at the public meeting must submit a
written request to testify no later than 12:00 p.m. EDT on June 23,
2022, through the online registration website available at: <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a>. The Board will provide the OCC with a copy
of each request to testify.
The online registration site will collect the following information
from persons requesting to testify: (i) The name, city and state,
telephone number, organization (if applicable), and email address of
the person testifying; (ii) a brief statement of the nature of the
expected testimony (including whether the testimony will support,
oppose, or neither support nor oppose the proposed transactions); and
(iii) the identification of any special needs, such as translation
services, or disabilities requiring assistance. Translators or
interpreters will be provided to the extent available if a need for
such services is noted in the request to testify.
Those wishing to submit a written version of their oral testimony
may, but need not, file the written submission with the Presiding
Officers via email to both <a href="/cdn-cgi/l/email-protection#bfdcd0d2d2dad1cbcc91decfcfd3d6dcdecbd6d0d1ccffdcd7d691d9cddd91d0cdd8"><span class="__cf_email__" data-cfemail="6c0f0301010902181f420d1c1c00050f0d180503021f2c0f0405420a1e0e42031e0b">[email protected]</span></a> and to
Large<a href="/cdn-cgi/l/email-protection#4f0d2e21243c0f202c2c613b3d2a2e3c61282039"><span class="__cf_email__" data-cfemail="96d4f7f8fde5d6f9f5f5b8e2e4f3f7e5b8f1f9e0">[email protected]</span></a> before the meeting begins, or within three
business days after the date of the meeting, and the subject line of
the email should state ``PUBLIC MEETING.''
Persons who wish to testify must be able to access the online
meeting platform using a computer, tablet, smart phone, or similar
mobile device and have a video camera on their computer or mobile
device. Persons who have registered to testify will be contacted by
agency staff prior to the meeting and provided with specific
instructions on participation (e.g., how to connect to the online
meeting), as well as an opportunity to attend a technical session on
how to connect to audio and video for the meeting.
Information for Persons Watching or Listening to the Meeting Without
Testifying
Persons interested in watching the meeting (but not testifying)
must register by submitting their name and email address through the
online registration web page at <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a>.
Registrants will be provided information on accessing the online
meeting platform.
Persons who wish to listen to the meeting (but not watch it or
testify) need not register online and may access audio of the meeting
using a call-in number that will be available on July 13, 2022, on the
registration web page at: <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a>. Persons attending
via telephone will only be able to listen to the meeting audio, and all
phone lines will be placed on mute to minimize disruption. Persons
listening to the public meeting via telephone will not be able to
provide testimony and will not have the ability to view the speakers or
any other information that may be shown on screen during the meeting.
Transcript of the Meeting
The agencies anticipate that a transcript of the meeting will be
posted on each agency's respective public website. An audio or video
recording of the meeting will not be retained by the agencies. No
presentation materials will be permitted to be used during the public
meeting due to technical considerations associated with a virtual
format.\2\
---------------------------------------------------------------------------
\2\ The agencies will review written materials submitted through
the comment submission process and, as described below, written
comments relating to the application will be posted to the agencies'
respective public websites.
---------------------------------------------------------------------------
[[Page 31563]]
Meeting Procedures
The Presiding Officers will prepare a schedule for persons wishing
to testify and establish the order of presentation. To ensure an
opportunity for all interested commenters to present their views, the
Presiding Officers may limit the time for providing oral comments and
may establish other procedures related to the conduct of the public
meeting as appropriate. For instance, each person may be permitted up
to three minutes to testify. In order to verify the identity of persons
scheduled to testify at the virtual public meeting, individuals who
register to testify will be required to join a virtual waiting room in
advance of the public meeting, where they must present a valid,
government-issued photo identification using the video conference
feature. Individuals who register to testify will be contacted by email
to schedule their identity verification sessions. The Presiding
Officers may extend the end time of the meeting beyond 7:00 p.m. EDT,
if additional time is needed to accommodate demonstrated public
interest.
Reasonable Accommodations
Persons who wish to request reasonable accommodations should submit
a request through the online registration website at <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a>, or by calling Jason Bouleris, Program
Analyst in the OCC's Community Affairs Division, at (202) 649-6382.
Requests should be made no later than 12:00 p.m. EDT on June 23, 2022.
Requests submitted after this time may not be possible to accommodate.
Requests should include a detailed description of the accommodation
needed and a way for agency staff to contact the requester if more
information is needed regarding the request.
Extension of the Comment Period
The Board is extending the comment period on the Holding Company
Application, and the OCC is extending the comment period on the Bank
Application, through 5:00 p.m. EDT on July 19, 2022.
Written comments regarding the Holding Company Application may be
submitted to the Federal Reserve Bank of Chicago, Colette A. Fried,
Assistant Vice President, 230 South LaSalle Street, Chicago, Illinois
60604, or electronically to <a href="/cdn-cgi/l/email-protection#d0b3bfbdbdb5bea4a3feb1a0a0bcb9b3b1a4b9bfbea390b3b8b9feb6a2b2febfa2b7"><span class="__cf_email__" data-cfemail="98fbf7f5f5fdf6ecebb6f9e8e8f4f1fbf9ecf1f7f6ebd8fbf0f1b6feeafab6f7eaff">[email protected]</span></a>; or the
offices of the Board of Governors, Ann E. Misback, Secretary of the
Board, 20th Street and Constitution Avenue NW, Washington, DC 20551-
0001. In general, all written comments will be made available on the
Board's website at <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a> as submitted, and
will not be edited to remove any confidential, contact, or other
identifying information.
Written comments on the Bank Application may be submitted to Jason
Almonte, Director for Large Bank Licensing at Large<a href="/cdn-cgi/l/email-protection#6a280b0401192a050909441e180f0b19440d051c"><span class="__cf_email__" data-cfemail="3f7d5e51544c7f505c5c114b4d5a5e4c11585049">[email protected]</span></a>
or at 340 Madison Avenue, Fifth Floor, New York, New York 10173.
Written comments will be made available on OCC's website at <a href="https://www.occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html">https://www.occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html</a>. In general, the OCC
will publish each comment without change, including any business or
personal information, name and address, email addresses, and phone
numbers. Comments received, including attachments and other supporting
material, are part of the public record and subject to public
disclosure. Do not enclose any information in a comment or supporting
material that is confidential or inappropriate for public disclosure.
Privacy Note
The Board will make the public record of the Holding Company
Application, including all comments received, the written copy of a
person's oral testimony at the public meeting (if a written copy is
provided to the agencies), and the transcript of the public meeting,
available on the Board's public website at: <a href="https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm">https://www.federalreserve.gov/foia/bank-of-montreal-bank-of-the-west-application-materials.htm</a>. The OCC will make the public record of the
Bank Application, including all comments received, the written copy of
a person's oral testimony at the public meeting (if a written copy is
provided to the agencies), and the transcript of the public meeting,
available on the OCC's public website at: <a href="https://occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html">https://occ.gov/topics/charters-and-licensing/public-comment/business-combination-or-merger-applications-comments.html</a>. Persons submitting comments and/or
testimony are reminded to include only information that they wish to
make available to the public.
Michael J. Hsu,
Acting Comptroller of the Currency.
By order of the Board of Governors of the Federal Reserve
System.
Ann Misback,
Secretary of the Board.
[FR Doc. 2022-11070 Filed 5-23-22; 8:45 am]
BILLING CODE P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on May 24, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.