[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