[Federal Register Volume 62, Number 26 (Friday, February 7, 1997)]
[Notices]
[Page 5832]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-3045]


-----------------------------------------------------------------------


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). 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 March 3, 1997.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. U.S. Trust Corporation, New York, New York; to acquire 100 
percent of the voting shares of U.S. Trust Bank of Connecticut, 
Stamford, Connecticut.
    B. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
    1. Keystone Financial Inc., Harrisburg, Pennsylvania; to merge with 
Financial Trust Corp., Carlisle, Pennsylvania, and thereby acquire 
Financial Trust Co., Carlise, Pennsylvania; Chambersburg Trust Co., 
Chambersburg, Pennsylvania; First National Bank and Trust Co., 
Waynesboro, Pennsylvania; and Washington County National Bank, 
Williamsport, Maryland.
    C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Blackhawk Bancorp, Inc., Beloit, Wisconsin; to acquire 100 
percent of the voting shares of Rochelle Bancorp, Rochelle, Illinois, 
and thereby indirectly acquire Rochelle Savings Bank, S.B., Rochelle, 
Illinois.
    In connection with this application, Applicant also has applied to 
acquire Midland Acceptance Corporation, Rochelle, Illinois, and thereby 
enage in making and servicing loans, pursuant to Sec.  225.25(b)(1) of 
the Board's Regulation Y.
    D. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105-1579:
    1. U.S. Bancorp, Portland, Oregon; to acquire 100 percent of the 
voting shares of Business & Professional Bank, Woodland, California.

    Board of Governors of the Federal Reserve System, February 3, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-3045 Filed 2-6-97; 8:45 am]
BILLING CODE 6210-01-F