[Federal Register Volume 60, Number 227 (Monday, November 27, 1995)]
[Notices]
[Pages 58363-58364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-28825]
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FEDERAL RESERVE SYSTEM
Reliance Bancshares, 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 December 21, 1995.
A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Reliance Bancshares, Inc., Milwaukee, Wisconsin; to become a
bank holding company by acquiring 100 percent of the voting shares of
Reliance Savings Bank, Milwaukee, Wisconsin.
In connection with this application, Applicant also has applied to
engage de novo in making and servicing loans, pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
[[Page 58364]]
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. First Bank System, Inc., Minneapolis, Minnesota; to acquire,
through its wholly owned subsidiary, Eleven Acquisition Corp.,
Minneapolis, Minnesota, 100 percent of the voting shares of First
Interstate Bancorp, Los Angeles, California, and thereby indirectly
acquire First Interstate Bank of California, Los Angeles, California,
First Interstate Bank of Montana, National Association, Kalispell,
Montana, First Interstate Bank, Ltd., Los Angeles, California, First
Interstate Bank of Englewood, National Association, Englewood,
Colorado, First Interstate Bank of Alaska, National Association,
Anchorage, Alaska, First Interstate Bank of Arizona, National
Association, Phoenix, Arizona, First Interstate Bank of Denver,
National Association, Denver, Colorado, First Interstate Bank of Idaho,
National Association, Boise, Idaho, First Interstate Bank of New
Mexico, National Association, Santa Fe, New Mexico, First Interstate
Bank of Nevada, National Association, Las Vegas, Nevada, First
Interstate Bank of Oregon, National Association, Portland, Oregon,
First Interstate Bank of Texas, National Association, Houston, Texas,
First Interstate Bank of Utah, National Association, Salt Lake City,
Utah, First Interstate Bank of Washington, National Association,
Seattle, Washington, First Interstate Bank of Wyoming, National
Association, Casper, Wyoming, and First Interstate Central Bank,
Calabasas, California.
In connection with this application, First Bank System, Inc., also
has applied to acquire First Interstate Resource Finance Associates,
Newport Beach, California, a venture capital firm, and thereby engage
in making, acquiring, or servicing loans or other extensions of credit
(including issuing letters of credit and accepting drafts) for the
company's account or for the account of others, pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y.
First Bank System also has applied to exercise an option to acquire
up to 19.9 percent of the voting shares of First Interstate Bancorp.
Board of Governors of the Federal Reserve System, November 20,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-28825 Filed 11-24-95; 8:45 am]
BILLING CODE 6210-01-F