[Federal Register Volume 59, Number 133 (Wednesday, July 13, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-16895]


[[Page Unknown]]

[Federal Register: July 13, 1994]


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FEDERAL COMMUNICATIONS COMMISSION
 

FEDERAL RESERVE SYSTEM

Community Bankshares, Inc., et al.; Formations of; Acquisitions by; 
and Mergers of Bank Holding Companies

    The companies listed in this notice have applied for the Board's 
approval under section 3 of the Bank Holding Company Act (12 U.S.C. 
1842) and Sec.  225.14 of the Board's Regulation Y (12 CFR 225.14) to 
become a bank holding company or to acquire a bank or bank holding 
company. The factors that are considered in acting on the applications 
are set forth in section 3(c) of the Act (12 U.S.C. 1842(c)).
    Each application is available for immediate inspection at the 
Federal Reserve Bank indicated. Once the application has been accepted 
for processing, it will also be available for inspection at the offices 
of the Board of Governors. Interested persons may express their views 
in writing to the Reserve Bank or to the offices of the Board of 
Governors. Any comment on an application that requests a hearing must 
include a statement of why a written presentation would not suffice in 
lieu of a hearing, identifying specifically any questions of fact that 
are in dispute and summarizing the evidence that would be presented at 
a hearing.
    Unless otherwise noted, comments regarding each of these 
applications must be received not later than August 6, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Community Bankshares, Inc., Cornelia, Georgia, to acquire 100 
percent of the voting shares of The Bank of Troup County, LaGrange, 
Georgia.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. First National Bancorp, Inc., Joliet, Illinois, to acquire 100 
percent of the voting shares of Community Bank of Plano, Plano, 
Illinois, and thereby indirectly acquire Plano Bancshares, Inc., Plano, 
Illinois.
    2. Panhandle Aviation, Inc., Clarinda, Iowa, to acquire 100 percent 
of the voting shares of Bank Altoona, Altoona, Iowa, a de novo bank.
    3. Peotone Bancorp, Inc., Peotone, Illinois, to acquire by merger 
through its subsidiary Southwest Bancorp, Inc., Worth, Illinois, 100 
percent of the voting shares of Minooka Bancorp, Inc., Minooka, 
Illinois, and thereby indirectly acquire 100 percent of the voting 
shares of Tri-County Bank of Minooka, Minooka, Illinois; 100 percent of 
Westbanco Bancorp, Inc., Westville, Illinois, and thereby indirectly 
acquire at least 82.02 percent of First National Bank of Westville, 
Westville, Illinois; and an additional 4.7 percent, for a total of 
19.61 percent, of the voting shares of Founders Bancorp, Inc., 
Scottsdale, Arizona, and thereby indirectly acquire Founders Bank of 
Arizona, Scottsdale, Arizona.
    4. Philipps Investment Company Limited Partnership, Spring Hill, 
Florida, to become a bank holding company by acquiring 53 percent of 
the voting shares of Gratiot Bancshares, Inc., Gratiot, Wisconsin, and 
thereby indirectly acquire Gratiot State Bank, Gratiot, Wisconsin.
    C. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Community Bancshares, Inc., Irvington, Illinois, to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Community Trust Bank, Irvington, Illinois.
    D. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. Southeast Bancshares, Inc., Chanute, Kansas, to acquire 82.5 
percent of the voting shares of Fall River State Bank, Fall River, 
Kansas. Comments regarding this application must be received no later 
than July 22, 1994.
    E. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Community Bancorporation, Orem, Utah, to become a bank holding 
company by acquiring 100 percent of the voting shares of Western 
Community Bank, Orem, Utah.
    2. Salinas Valley Bancorp, Salinas, California, to become a bank 
holding company by acquiring 100 percent of the voting shares of Bank 
of Salinas, Salinas, California.

    Board of Governors of the Federal Reserve System, July 7, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-16895 Filed 7-12-94; 8:45 am]
BILLING CODE 6210-01-F