[Federal Register Volume 61, Number 207 (Thursday, October 24, 1996)]
[Notices]
[Pages 55150-55151]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-27253]


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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 55151]]

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 November 18, 1996.
    A. Federal Reserve Bank of Cleveland (R. Chris Moore, Senior Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. Pennwood Bancorp, Inc., Pittburgh, Pennsylvania; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Pennwood Savings Bank, Pittsburgh, Pennsylvania.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. F & M Bancorporation, Inc., Kaukauna, Wisconsin; to acquire 100 
percent of the voting shares of Green County Bank, Brodhead, Wisconsin.
    C. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. Haviland Bancshares, Inc., Haviland, Kansas; to acquire 19.995 
percent of the voting shares of Fredonia State Bancshares, Inc., 
Fredonia, Kansas, and thereby indirectly acquire State Bank of 
Fredonia, Fredonia, Kansas.
    In connection with this application, Fredonia State Bancshares, 
Inc., has also applied to become a bank holding company by acquiring 
96.15 percent of the voting stock of State Bank of Fredonia, Fredonia, 
Kansas.
    D. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. U.S. Bancorp, Portland, Oregon; to merge with Sun Capital 
Bancorp, St. George, Utah, and thereby indirectly acquire Sun Capital 
Bank, St. George, Utah.

    Board of Governors of the Federal Reserve System, October 18, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-27253 Filed 10-23-96; 8:45 am]
BILLING CODE 6210-01-F