[Federal Register Volume 61, Number 40 (Wednesday, February 28, 1996)]
[Notices]
[Pages 7519-7520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4448]



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FEDERAL RESERVE SYSTEM

George Mason Bankshares, 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 and their subsidiaries. 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 March 22, 1996.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. George Mason Bankshares, Inc., Fairfax, Virginia; and Mason 
Holding Corporation, Fairfax, Virginia; to acquire 100 percent of the 
voting shares of The Palmer National Bancorp, Inc., Washington, D.C., 
and thereby indirectly acquire The Palmer National Bank, Washington, 
D.C.
    In connection with this application, Applicants also have applied 
to acquire Palmer National Mortgage, Inc., Rockville, Maryland, and 
thereby indirectly acquire in making, acquiring, or servicing loans or 
other extensions of credit for the company's account or for the account 
of others, pursuant to Sec.  225.25(b)(1) of the Board's Regulation Y.
    In addition, Mason Holding Corporation, Fairfax, Virginia, also has 
applied to become a bank holding company by acquiring 100 percent of 
the voting shares of The Palmer National Bancorp, Inc., Washington, 
D.C., and thereby indirectly acquire The Palmer National Bank, 
Washington, D.C.


[[Page 7520]]

    Board of Governors of the Federal Reserve System, February 22, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-4448 Filed 2-27-96; 8:45 am]
BILLING CODE 6210-01-F