[Federal Register Volume 62, Number 217 (Monday, November 10, 1997)]
[Notices]
[Page 60512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29516]


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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 December 3, 1997.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. Narragansett Financial Corp., Fall River, Massachusetts; to 
become a bank holding company by acquiring 100 percent of the voting 
shates of Citizens-Union Savings Bank, Fall River, Massachusetts.
    2. New England Community Bancorp, Inc., Windsor, Connecticut; to 
acquire 100 percent of the voting shares of Community Savings Bank, 
Bristol, Connecticut.
    B. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. NationsBank Corporation, and NB Holdings Corporation, both of 
Charlotte, North Carolina; to retain 8.34 percent of the voting shares 
of Southern Bancshares Corporation, St. Louis, Missouri, and thereby 
indirectly retain Southern Commercial Bank, St. Louis, Missouri. The 
shares are held in a fiduciary capacity.
    C. Federal Reserve Bank of Kansas City (D. Michael Manies, 
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 
64198-0001:
    1. AmeriGroup, Inc., Hershey, Nebraska; to become a bank holding 
company by acquiring an additional 70.53 percent, for a total of 80.24 
percent, of the voting shares of Hershey State Bank, Hershey, Nebraska.
    In connection with this application, Applicant also has applied to 
engage in the sale of general insurance, pursuant to Sec.  
225.28(b)(11)(iii) of the Board's Regulation Y.
    D. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Citizens Bankers, Inc., Baytown, Texas, and Citizens Bankers of 
Delaware, Inc., Wilmington, Delaware; to acquire 67 percent of the 
voting shares of First National Bank of Bay City, Bay City, Texas, a de 
novo bank.
    2. The First National Bank Employee Stock Ownership Plan, Artesia, 
New Mexico; to acquire 26.33 percent of the voting shares of First 
Artesia Bancshares, Inc., Artesia, New Mexico.

    Board of Governors of the Federal Reserve System, November 4, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-29516 Filed 11-7-97; 8:45 am]
BILLING CODE 6210-01-F