[Federal Register Volume 62, Number 81 (Monday, April 28, 1997)]
[Notices]
[Pages 22944-22945]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-10843]


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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.

[[Page 22945]]

 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 12, 1997.
    A. Federal Reserve Bank of Cleveland (Jeffrey Hirsch, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. FirstFederal Financial Services Corp., Wooster, Ohio; to become 
a bank holding company by acquiring 100 percent of the voting shares of 
FirstFederal Bank, N.A., Wooster, Ohio (formerly known as First Federal 
Savings and Loan Assocation of Wooster).
    In connection with this application, Applicant also has applied to 
acquire Mobile Consultants, Inc., Wooster, Ohio, and thereby engage in 
the origination of consumer, non-mortgage loans to the manufactured 
home industry, pursuant to Sec.  225.28(b)(1) of the Board's Regulation 
Y, and in the collection and recovery of troubled loans for financial 
institutions that originate loans to manufactured home loans, pursuant 
to Sec.  225.28(b)(2) of the Board's Regulation Y.
    2. First Federal Financial Services Corp., Wooster, Ohio; to merge 
with Summit Bancorp, Inc., Akron, Ohio, and thereby indirectly acquire 
Summit Bank, Akron, Ohio.
    In connection with this application, Applicant also has applied to 
acquire Summit Banc Investment Corporation, Akron, Ohio, and thereby 
engage in investment advisory and securities brokerage activities, 
including the sale of annuities pursuant to a dual employee 
arrangement, pursuant to Secs.  225.28(b)(6) and (15) of the Board's 
Regulation Y.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. First Security Corporation Employee Stock Ownership Plan, 
Norcross, Georgia; to become a bank holding company by acquiring an 
additional 6.7 percent, for a a total of 31.6 percent of the voting 
shares of First Security Corporation, Norcross, Georgia, and thereby 
indirectly acquire First Security National Bank, Norcross, Georgia.

    Board of Governors of the Federal Reserve System, April 22, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-10843 Filed 4-25-97; 8:45 am]
BILLING CODE 6712-01-F