[Federal Register Volume 60, Number 187 (Wednesday, September 27, 1995)]
[Notices]
[Page 49847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23924]



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FEDERAL RESERVE SYSTEM

West One Bancorp; 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 
October 20, 1995.
    A. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. U.S. Bancorp, Portland, Oregon; to acquire 100 percent of the 
voting shares of West One Bancorp, Boise, Idaho, and thereby indirectly 
acquire West One Bank, Idaho, Boise, Idaho; West One Bank, Oregon, 
Portland, Oregon; West One Bank, Oregon, S.B., Hillsboro, Oregon; West 
One Bank Washington, Seattle, Washington; West One Bank, Utah, Salt 
Lake City, Utah; and Idaho First Bank, Boise, Idaho.
    In connection with this application, U.S. Bancorp also has applied 
to acquire West One Trust Company, Salt Lake City, Utah, and West One 
Trust Company, Washington, Seattle, Washington; and thereby engage in 
trust company services, pursuant to Sec.  225.25(b)(3) of the Board's 
Regulation Y; West One Life Insurance Company, Phoenix, Arizona; and 
thereby engage in credit life and disability reinsurance, pursuant to 
Sec.  225.25(b)(8)(i) of the Board's Regulation Y; West One Financial 
Services, Inc., Boise, Idaho, and thereby engage in residential and 
commercial mortgage servicing, pursuant to Sec.  225.25(b)(1)(iii) of 
the Board's Regulation Y.
    In addition to this application, U.S. Bancorp has applied to 
acquire 19.9 percent of the voting shares of West One Bancorp, and West 
One Bancorp has applied to acquire 19.9 percent of the voting shares of 
U.S. Bancorp, Portland, Oregon, and thereby indirectly acquire U.S. 
National Bank of Oregon, Portland, Oregon; U.S. Bank of Idaho, N.A., 
Coeur D'Alene, Idaho; U.S. Bank of Nevada, Reno, Nevada; U.S. Bank of 
Washington N.A., Seattle, Washington; U.S. Bank of California, 
Sacramento, California; U.S. Bank of Southwest Washington, Vancouver, 
Washington; U.S. Bank, N.A., Beaverton, Oregon; U.S. Savings Bank of 
Washington, Bellingham, Washington; and First State Bank of Oregon, 
Canby, Oregon.

    Board of Governors of the Federal Reserve System, September 20, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-23924 Filed 9-26-95; 8:45 am]
BILLING CODE 6210-01-F