[Federal Register Volume 61, Number 148 (Wednesday, July 31, 1996)]
[Notices]
[Pages 39976-39977]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19352]


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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

[[Page 39977]]

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 23, 1996.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. Collective Bancorp, Inc., Cologne, New Jersey; to become a bank 
holding company by acquiring 100 percent of the voting shares of 
Continental Bancorporation, Laurel Springs, New Jersey, and thereby 
indirectly acquire Continental Bank of New Jersey, Laurel Springs, New 
Jersey.
    In connection with this application Collective Bancorp, Inc., has 
applied to acquire Collective Bank, Egg Harbor, New Jersey, and thereby 
engage in operating a savings association pursuant to Sec.  
225.25(b)(9) of the Board's Regulation Y; Collective Mortgage Services, 
Inc., Egg Harbor, New Jersey, and thereby engage in making and 
servicing loans pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y; Collective Financial Services, Egg Harbor, New Jersey, 
and thereby engage in securities brokerage activities and insurance 
agency activities in a town of less than 5,000 and underwriting 
activities pursuant to Secs.  225.25(b)(15) and 225.25(b)(8)(iii) & (i) 
of the Board's Regulation Y.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; to acquire 100 
percent of the voting shares of American Bank Moorhead, Moorhead, 
Minnesota.

    Board of Governors of the Federal Reserve System, July 25. 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-19352 Filed 7-30-96; 8:45 am]
BILLING CODE 6210-01-F