[Federal Register Volume 61, Number 49 (Tuesday, March 12, 1996)]
[Notices]
[Pages 9990-9991]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-5798]



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FEDERAL RESERVE SYSTEM


Formations of, Acquisitions by, and Mergers of Bank Holding 
Companies

    The companies listed in this notice have applied to the Board for 
approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 
Sec.  1841 et seq.) (BHC Act), Regulation Y (12 CFR Part 225), and all 
other applicable statutes and regulations to become a bank holding 
company and/or to acquire the assets or the ownership of, control of, 
or the power to vote shares of a bank or bank holding company and all 
of the banks and nonbanking companies owned by the bank holding 
company, including the companies listed below.
    The applications listed below, as well as other related filings 
required by the Board, 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 standards enumerated in the BHC Act (12 U.S.C. Sec.  
1842(c)). If the proposal also involves the acquisition of a nonbanking 
company, the review also includes whether the acquisition of the 
nonbanking company complies with the standards in section 4 of the BHC 
Act, including whether the acquisition of the nonbanking company 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'' (12 U.S.C.      Sec. 1843). Any request for 
a hearing 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, nonbanking activities will be conducted throughout the 
United States.
    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 April 5, 1996.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. BT Financial Corporation, Johnstown, Pennsylvania; to acquire 
100 percent of the voting shares of The Armstrong County Trust Company, 
Kittanning, Pennsylvania.
    2. Execufirst Bancorp, Inc., Philadelphia, Pennsylvania; to merge 
with Republic Bancorporation, Inc., Philadelphia, Pennsylvania, and 
thereby indirectly acquire Republic Bank, Philadelphia, Pennsylvania.
    B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Beach First National Bancshares, Inc., Myrtle Beach, South 
Carolina; to become a bank holding company by acquiring 100 percent of 
the voting shares of Beach First National Bank, Myrtle Beach, South 
Carolina (a de novo bank).
    C. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Am-First Financial Corporation, Madison, South Dakota; to become 
a bank holding company by acquiring 100 percent of the voting shares of 
American Federal Bank, Madison, South Dakota, a federal savings bank, 
to be converted to a state chartered bank to be known as

[[Page 9991]]
Madison State Bank, Madison, South Dakota.
    In connection with this application, Applicant, also has applied to 
merge with Farmers and Merchants Investment Co., Omaha, Nebraska. 
Following the merger, Am-First Financial Corporation will change its 
name to Spectrum Bancorporation, Inc.
    In addition with these applications, Farmers and Merchants 
Investment Co., Omaha, Nebraska, will acquire 100 percent of the voting 
shares of Am-First Financial Corporation, Madison, South Dakota, a 
thrift holding company which has also applied to become a bank holding 
company.
    D. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. West Texas National Bancshares, Inc., Lockney, Texas, and 
Lockney Holding Company, Wilmington, Delaware; to acquire 100 percent 
of the voting shares of Silverton Bancshares, Inc., Silverton, Texas, 
and thereby indirectly acquire First State Bank, Silverton, Texas.

    Board of Governors of the Federal Reserve System, March 6, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-5798 Filed 3-11-96; 8:45 am]
BILLING CODE 6210-01-F