[Federal Register Volume 62, Number 78 (Wednesday, April 23, 1997)]
[Notices]
[Page 19762]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10480]


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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. 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 May 16, 1997.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Community Financial Corp., Edgewood, Iowa; to acquire up to 100 
percent of the voting shares of Community Savings Bank, Robins, Iowa.
    B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. First Bank System, Inc., Minneapolis, Minnesota; to merge with 
U.S. Bancorp, Portland, Oregon, and thereby indirectly acquire U.S. 
National Bank of Oregon, Portland, Oregon; U.S. Bank of Washington, 
N.A., Seattle, Washington; U.S. Bank of Nevada, Reno, Nevada; U.S. Bank 
of Utah, Salt Lake City, Utah; U.S. Bank of Idaho, Boise, Idaho; U.S. 
Bank of California, Sacremento, California; First State Bank of Oregon, 
Canby, Oregon; Sun Capital Bank, St. George, Utah; and Business & 
Professional Bank, Woodland, California.
    In connection with this application, Applicant also has applied to 
acquire West One Trust Company d/b/a U.S. Bank Trust Company, Salt Lake 
City, Utah; LNB Corp., Alameda, California; and U.S. Bank Trust 
Company, Portland, Oregon, and thereby engage in personal and 
institutional trust and fiduciary activities, pursuant to Sec.  
225.25(b)(3) of the Board's Regulation Y; U.S. Bancorp Insurance 
Agency, Inc., Portland, Oregon, and thereby engage in insurance agency 
activities, pursuant to Secs.  225.25(b)(8)(i) and (vii) of the Board's 
Regulation Y.; U.S. Trade Services, Inc., Portland, Oregon, and thereby 
engage in letter of credit issuing and paying and related letter of 
credit processing activities, pursuant to Sec.  225.25(b)(1)(iv) of the 
Board's Regulation Y; West One Life Insurance Company, Portland, 
Oregon, and thereby indirectly engage in credit reinsurance activities, 
pursuant to Sec.  225.25(b)(8)(i) of the Board's Regulation Y; CBI 
Mortgage, Modesto, California, and thereby engage in mortgage banking 
activities, pursuant to Sec.  225.25(b)(1)(iii) of the Board's 
Regulation Y; Compass Group, Inc., Spokane, Washington, and thereby 
engage in investment advisory services, pursuant to Sec.  225.25(b)(4) 
of the Board's Regulation Y; Island Bancorp Leasing, Inc., Alameda, 
California, and thereby engage in leasing and equipment financing, 
pursuant to Sec.  225.25(b)(5) of the Board's Regulation Y. Applicant 
also has applied to acquire numerous partnerships and thereby engage in 
community development activities, pursuant to Sec.  225.25(b)(6) of the 
Board's Regulation Y. Applicant also has applied pursuant to Sec.  
211.33(a) of the Board's Regulation K to acquire U.S. Trade 
Corporation, Portland, Oregon.

    Board of Governors of the Federal Reserve System, April 17, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-10480 Filed 4-22-97; 8:45 am]
BILLING CODE 6210-01-F