[Federal Register Volume 62, Number 139 (Monday, July 21, 1997)]
[Notices]
[Pages 38995-38996]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-19100]


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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. The application also will 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 August 15, 1997.
    A. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. First State Bancshares, Inc., Ida Grove, Iowa; to become a bank 
holding company by acquiring 100 percent of the voting shares of First 
State Bank, Ida Grove, Iowa.
    2. Hometown Independent Bancorp, Inc., Morton, Illinois; to become 
a bank holding company by acquiring 100 percent of the voting shares of 
Morton Community Bank, Morton, Illinois.
    3. O.A.K. Financial Corporation, Byron Center, Michigan; to become 
a bank holding company by acquiring 24.9 percent of the voting shares 
of Caledonia Financial Corporation, Caledonia, Michigan, and State Bank 
of Caledonia, Caledonia, Michigan.
    4. Progressive Bancorp, Inc., Pekin, Illinois; to become a bank 
holding company by acquiring 100 percent of the voting shares of Pekin 
Savings Bank, S.B., Pekin, Illinois.
    B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. Dean Financial Services, Inc., St. Paul, Minnesota; to acquire 
100 percent of the voting shares of The First National Corporation of 
Aitkin, Inc., Aitkin, Minnesota, and thereby indirectly acquire The 
First National Bank of Aitkin, Aitkin, Minnesota; Mid-Continent 
Financial Services, Inc.,

[[Page 38996]]

Bloomington, Minnesota, and thereby indirectly acquire State Bank of 
Edgerton, Edgerton, Minnesota; and The First State Bank of Eden 
Prairie, Eden Prairie, Minnesota.
    2. Otto Bremer Foundation, St. Paul, Minnesota; through its 
subsidiary, Bremer Financial Corporation, St. Paul, Minnesota, to 
acquire 100 percent of the voting shares of The Halo Bancorporation, 
Inc., Devils Lake, North Dakota, and thereby indirectly acquire First 
National Bank of Devils Lake, Devils Lake, North Dakota.

    Board of Governors of the Federal Reserve System, July 16, 1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-19100 Filed 7-18-97; 8:45 am]
BILLING CODE 6210-01-F