[Federal Register Volume 61, Number 213 (Friday, November 1, 1996)]
[Notices]
[Page 56547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-28051]


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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 November 25, 1996.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
    1. Carolina Financial Corporation, Charleston, South Carolina; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of Community FirstBank of Charleston, Charleston, South Carolina 
(in organization).
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Magna Group, Inc., St. Louis, Missouri, and HBC Acquisition Sub, 
Inc., St. Louis, Missouri; to acquire 100 percent of the voting shares 
of Homeland Bankshares Corporation, Waterloo, Iowa, and thereby 
indirectly acquire Homeland Bank, N.A., Waterloo, Iowa; Homeland Bank, 
Indianola, Iowa; Homeland Bank, Oelwein, Iowa; and Homeland Bank, 
Monticello, Iowa.
    In connection with this application, HBC Acquisition Sub, Inc., St. 
Louis, Missouri, also has applied to become a bank holding company.
    In connection with this application, Magna Group, Inc., St. Louis, 
Missouri also has applied to acquire Homeland Savings Bank, FSB, Des 
Moines, Iowa, and thereby engage in owning and operating a savings 
association, pursuant to Sec.  225.25(b)(9) of the Board's Regulation 
Y; Homeland Trust Company, Des Moines, Iowa, and thereby engage in 
performing functions and or activities that may be performed by a trust 
company (including activities of a fiduciary, agency, or custodial 
nature), pursuant to Sec.  225.25(b)(3) of the Board's Regulation Y; 
and Homeland Student Loan Company, West Des Moines, Iowa, and thereby 
engage in making, acquiring, or servicing loans or other extensions of 
credit, pursuant to Sec.  225.25(b)(1) of the Board's Regulation Y.
    C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Diboll State Bancshares, Inc., Diboll, Texas, and Diboll State 
Bancshares of Delaware, Inc., Wilmington, Delaware; to acquire 100 
percent of the voting shares of First State Bank, Jasper, Texas.

    Board of Governors of the Federal Reserve System, October 28, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-28051 Filed 10-31-96; 8:45 am]
BILLING CODE 6210-01-F