[Federal Register Volume 61, Number 78 (Monday, April 22, 1996)]
[Notices]
[Pages 17703-17704]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-9810]
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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.
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
[[Page 17704]]
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.
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. 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 May 16, 1996.
A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Center Bancorp, Inc., Union, New Jersey; to acquire 100 percent
of the voting shares of Union Center Interim National Bank, Union, New
Jersey, and merge it with Lehigh Savings Bank, SLA, Union, New Jersey,
and thereby engage in owning and controlling a savings association,
pursuant to Sec. 225.25(b)(9) of the Board's Regulation Y. Lehigh
Savings will be the surviving institution, which will then merge with
Union Center National Bank, Union, New Jersey.
2. NVE Bancorp, MHC, and NVE Bancorp, Inc., both of Englewood, New
Jersey; to become bank holding companies by acquiring 100 percent of
the voting shares of NVE Savings Bank, Englewood, New Jersey (successor
to NVE Savings and Loan Association).
B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. Fort Brooke Bancorporation, Brandon, Florida; to become a bank
holding company by acquiring 100 percent of the voting shares of Fort
Brooke Bank, Brandon, Florida.
2. Newnan Holdings, Inc., Newnan, Georgia; to become a bank holding
company by acquiring 100 percent of the voting shares of Southside
Financial Group, Inc., Fayetteville, Georgia, and thereby indirectly
acquire Citizens Bank & Trust of Fayette County, Fayetteville, Georgia.
In connection with this application, Applicant also has applied to
acquire Newnan Savings Bank, FSB, Newnan, Georgia, and thereby engage
in operating a savings association, pursuant to Sec. 225.25(b)(9) of
the Board's Regulation Y. This activity will be performed throughout
the State of Georgia.
C. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Eau Claire Financial Services, Inc., St. Paul, Minnesota; to
acquire 93.8 percent of the voting shares of American Bank Lake City,
Lake City, Minnesota.
2. Norwest Corporation, Minneapolis, Minnesota; to acquire 100
percent of the voting shares of B & G Investment Company, San Antonio,
Texas, and thereby indirectly acquire First State Bank, Bandera, Texas.
D. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. West Coast Bancorp, Lake Oswego, Oregon; to merge with Vancouver
Bancorp, Vancouver, Washington, and thereby indirectly acquire Bank of
Vancouver, Vancouver, Washington.
In connection with this application, Applicant also has applied to
acquire 19.9 percent of the voting shares of Vancouver Bancorp,
Vancouver, Washington, and thereby indirectly acquire Bank of
Vancouver, Vancouver, Washington.
Board of Governors of the Federal Reserve System, April 16,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-9810 Filed 4-19-96; 8:45 am]
BILLING CODE 6210-01-F