[Federal Register Volume 60, Number 144 (Thursday, July 27, 1995)]
[Notices]
[Page 38562]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-18461]



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FEDERAL RESERVE SYSTEM


BayBanks, 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 21, 1995.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. BayBanks, Inc., Boston, Massachusetts; to acquire an additional 
95.5 percent, for a total of 100 percent, of the voting shares of 
Cornerstone Financial Corporation, Derry, New Hampshire, and thereby 
indirectly acquire Cornerstone Bank, Derry, New Hampshire.
    2. Westfield Mutual Savings Bank Holding Company, Westfield, 
Massachusetts; to become bank holding companies by acquiring 100 
percent of the voting shares of Westfield Savings Bank, Westfield, 
Massachusetts, which upon the reorganization, will continue to 
participate in the Massachusetts Savings Bank Life Insurance program.
    B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Piedmont Bancorp, Inc., Hillsborough, North Carolina; to become 
a bank holding company by acquiring 100 percent of the voting shares of 
Hillsborough Savings Bank, Inc., S.S.B., Hillsborough, North Carolina.
    C. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Thomasville Bancshares, Inc., Thomasville, Georgia; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Thomasville National Bank, Thomasville, Georgia, in organization.
    D. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Banque Nationale de Paris, Paris, France, to form a subsidiary, 
BancWest Corporation, San Francisco, California, which will become a 
bank holding company by acquiring 100 percent of the voting shares of 
Bank of the West, San Francisco, California, an existing subsidiary of 
Banque Nationale de Paris.
    2. Draper Bancorp, Draper, Utah; to become a bank holding company 
by acquiring 100 percent of the voting shares of Draper Bank and Trust, 
Draper, Utah.

    Board of Governors of the Federal Reserve System, July 21, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-18461 Filed 7-26-95; 8:45 am]
BILLING CODE 6210-01-F