[Federal Register Volume 61, Number 24 (Monday, February 5, 1996)]
[Notices]
[Page 4276]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-2311]



-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM

Prairieland Employee Stock Ownership Plan; 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 also has given notice under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the 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 to 
acquire the non-banking subsidiaries 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 
February 26, 1996.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Prairieland Employee Stock Ownership Plan, Bushnell, Illinois; 
to become a bank holding company by acquiring 30 percent of the voting 
shares of Prairieland Bancorp, Inc., Bushnell, Illinois, and thereby 
indirectly acquire Farmers & Merchants State Bank, Waunakee, Wisconsin.
    In connection wit this application, Prairieland Employee Stock 
Ownership Plan, Bushnell, Illinois, and Prairieland Bancorp, Inc., 
Bushnell, Illinois, also have applied to engage in the activities of 
(i) making and servicing loans, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y, and (ii) in providing tax services, pursuant to 
Sec.  225.25(b)(21) of the Board's Regulation Y.The Geographic scope 
for these activities is Bushnell, Illinois.

    Board of Governors of the Federal Reserve System, January 30, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-2311 Filed 2-2-96; 8:45 am]
BILLING CODE 6210-01-F