[Federal Register Volume 60, Number 81 (Thursday, April 27, 1995)]
[Notices]
[Page 20683]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-10324]



=======================================================================
-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


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

    The companies listed in this notice have 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 companies have 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 applications are 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.
    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 12, 1995.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. Affiliated Community Bancorp, Inc., Waltham, Massachusetts; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of Lexington Savings Bank, Lexington, Massachusetts.
    In connection with this application, Applicant also has applied to 
acquire Main Street Community Bancorp, Inc., Waltham, Massachusetts, 
and thereby indirectly acquire Federal Savings Bank, Waltham, 
Massachusetts, and thereby engage in owning, controlling, and operating 
a savings association that engages only in deposit-taking activities 
and lending and other activities pursuant to Sec.  225.25(b)(9) of the 
Board's Regulation Y.
    B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. CENIT Bancorp, Inc., Norfolk, Virginia; to become a bank holding 
company by acquiring 100 percent of the voting shares of Princess Anne 
Bank, Virginia Beach, Virginia.
    In connection with this application, Applicant also has applied to 
acquire CENIT Bank, F.S.B., Norfolk, Virginia, and thereby engage in 
operating a federal savings bank, pursuant to Sec.  225.25(b)(9) of the 
Board's Regulation Y.

    Board of Governors of the Federal Reserve System, April 21, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-10324 Filed 4-26-95; 8:45 am]
BILLING CODE 6210-01-F