[Federal Register Volume 61, Number 139 (Thursday, July 18, 1996)]
[Notices]
[Pages 37479-37480]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-18219]


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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 
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 August 13, 1996.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. The Landrum Company, Columbia, Missouri; to acquire 100 percent 
of the voting shares of First Heritage National Bank, Ada, Oklahoma, a 
de novo bank.
    B. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Cal Fed Bancorp Inc., Los Angeles, California; to become a bank 
holding company by acquiring 100 percent of the voting shares of First 
Citizens Bank, Sherman Oaks, California, and also to retain ownership 
of California Federal Bank, FSB, Los Angeles, California, and thereby 
engage in the activity of operating a savings association, pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y, and to retain ownership 
of the following direct and indirect subsidiaries of this institution: 
Cal Fed Credit, Inc., Rosemead, California, and thereby engage in 
making home equity loans, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y; Cal Fed Credit of Texas, Inc., Irving, Texas, and thereby 
engage in holding automobile loans, pursuant to Sec.  225.25(b)(1) of 
the Board's Regulation Y; CalFed Investment Corp., Los Angeles, 
California, and thereby engage in holding mortgage loans, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y; Cal Fed Insurance 
Agency, Inc., Los Angeles, California, and thereby engage in providing 
credit related insurance, pursuant to Sec.  225.25(b)(8)(i)&(ii) of the 
Board's Regulation Y; Cal Fed Investment Services, Los Angeles, 
California, and thereby engage in securities brokerage services, 
pursuant to Sec.  225.25(b)(15)(i) of the Board's Regulation Y; Cal Fed 
Mortgage Company, Los Angeles, California, and thereby engage in 
holding mortgage loans, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y; Cal Fed Service Corporation, Los Angeles, California, and 
thereby engage in mortgage loan servicing, pursuant to Sec.  
225.25(b)(1) of the Board's Regulation Y. Cal Fed Bancorp, Inc. also 
has proposed to retain the following subsidiaries: Cal Fed Enterprises, 
Los Angeles, California; CFE Portrero Corporation, Los Angeles, 
California;

[[Page 37480]]

Cal Fed Syndications, Los Angeles, California; California Communities, 
Inc., Los Angeles, California; CF Management Corp., Los Angeles, 
California; CF Recovery Corp. One, Los Angeles, California; CF Recovery 
Corp. Two, Los Angeles, California; Melrose Funding Incorporated, Los 
Angeles, California; XCF Acceptance Corporation, Los Angeles, 
California.

    Board of Governors of the Federal Reserve System, July 12, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-18219 Filed 7-17-96; 8:45 am]
BILLING CODE 6210-01-F