[Federal Register Volume 61, Number 170 (Friday, August 30, 1996)]
[Notices]
[Pages 45974-45975]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-22178]


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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

[[Page 45975]]

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 September 23, 1996.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Eberhardt, Inc., Elberton, Georgia; and JAM Family Partnership 
II, L.P., Elberton, Georgia, which is a second tier bank holding 
company subsidiary of Eberhardt, Inc.; to retain an additional 2.07 
percent and prior approval to acquire an additional 1.37 percent of 
Pinnacle Financial Corporation, Elberton, Georgia, and thereby 
indirectly acquire First National Bank of Elberton, Elberton, Georgia, 
and Tri-County Bank of Royston, Royston, Georgia. Pro forma ownership 
will equal 25.24 percent.
    In addition McConnell & Co., Elberton, Georgia, and JAM Family 
Partnership I, L.P., Elberton, Georgia, which is a second tier bank 
holding company subsidiary of McConnell and Co.; to acquire an 
additional 3.97 percent, for a total of 25.77 percent of the voting 
shares of Pinnacle Financial Corporation, Elberton, Georgia, and 
thereby indirectly acquire First National Bank in Elberton, Elberton, 
Georgia, and Tri-County Bank of Royston, Royston, Georgia.
    B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Taylor Bancshares, Inc., North Mankato, Minnesota; to acquire 16 
percent of the voting shares of First National Bank of Fairfax, 
Fairfax, Minnesota.
    C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Saint Jo Bancshares, Inc., Saint Jo, Texas; to become a bank 
holding company by acquiring 100 percent of the voting shares of First 
Financial Company of Saint Jo, Dover, Delaware, and thereby indirectly 
acquire The First National Bank of Saint Jo, Saint Jo, Texas.
    In connection with this application First Financial Company of 
Saint Jo, Dover, Delaware, also has applied to become a bank holding 
company.

    Board of Governors of the Federal Reserve System, August 26, 
1996.
William W. Wiles
Secretary of the Board
[FR Doc. 96-22178 Filed 8-29-96; 8:45 am]
BILLING CODE 6210-01-F