[Federal Register Volume 59, Number 148 (Wednesday, August 3, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-18854]


[[Page Unknown]]

[Federal Register: August 3, 1994]


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FEDERAL RESERVE SYSTEM
 

 Hibernia Corporation; Formation of, Acquisition by, or Merger of 
Bank Holding Companies; and Acquisition of Nonbanking Company

    The company listed in this notice has applied under Sec.  225.14 of 
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
bank holding company or to acquire voting securities of a bank or bank 
holding company. The listed company has also applied under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the Board's 
approval under section 4(c)(8) of the Bank Holding Company Act (12 
U.S.C. 1843(c)(8)) and Sec.  225.21(a) of Regulation Y (12 CFR 
225.21(a)) to acquire or control voting securities or assets of a 
company engaged in a nonbanking activity that is listed in Sec.  225.25 
of Regulation Y as closely related to banking and permissible for bank 
holding companies, or to engage in such an activity. Unless otherwise 
noted, these activities will be conducted throughout the United States.
    The 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 on the question whether consummation of the proposal can 
``reasonably be expected to produce benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, 
that outweigh possible adverse effects, such as undue concentration of 
resources, decreased or unfair competition, conflicts of interests, or 
unsound banking practices.'' Any request for a hearing on this question 
must be accompanied by a statement of the reasons a written 
presentation would not suffice in lieu of a hearing, identifying 
specifically any questions of fact that are in dispute, summarizing the 
evidence that would be presented at a hearing, and indicating how the 
party commenting would be aggrieved by approval of the proposal.
    Comments regarding the application must be received at the Reserve 
Bank indicated or the offices of the Board of Governors not later than 
August 26, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Hibernia Corporation, New Orleans, Louisiana; to merge with 
Pioneer Bancshares Corporation, Shreveport, Louisiana, and thereby 
indirectly acquire Pioneer Bank & Trust Company, Shreveport, Louisiana.
    In connection with this application, Applicant has also applied to 
acquired Zachary Taylor Life Insurance Company, Shreveport, Louisiana 
(``COMPANY''). COMPANY is a Louisiana corporation which maintains a 
license to engage in business as a life insurance company, but has not 
engaged in such activities since July 1, 1982, and will not engage in 
such activity pursuant to the terms of a commitment dated July 14, 
1982, by Bancshares to the Federal Reserve Bank of Dallas (the 
``Commitment'') without the prior written approval of the Federal 
Reserve Bank of Dallas. COMPANY does not presently actively engage in 
any business activity, and, in the event Applicant acquires all of the 
issued and outstanding shares of COMPANY pursuant to the Holding 
Company Merger, Applicant will honor the Commitment and will not cause 
or permit COMPANY to engage in any insurance or other business activity 
without the prior written approval of the Federal Reserve Bank of 
Atlanta.

    Board of Governors of the Federal Reserve System, July 28, 1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-18854 Filed 8-2-94; 8:45 am]
BILLING CODE 6210-01-F