[Federal Register Volume 62, Number 235 (Monday, December 8, 1997)]
[Pages 64589-64590]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32055]



Formations of, Acquisitions by, and Mergers of Bank Holding 

    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 January 2, 1998.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. First Empire State Corporation, and Olympia Financial Corp., 
both of Buffalo, New York; to acquire up to 19.9 percent of the voting 
shares of OnBancorp, Inc., Syracuse, New York, and thereby indirectly 
acquire OnBank & Trust Co., Syracuse, New York. Olympia Financial 
Corp., also has applied to become a bank holding company and to acquire 
Manufactures and Traders Trust Company, Buffalo, New York.
    In connection with these applications, Applicants also have applied 
to acquire Franklyn First Savings Bank, Wilkes-Barre, Pennsylvania, and 
thereby engage in operating a savings association, pursuant to Sec.  
225.28(b)(4)(ii) 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. Firstrust Corporation, New Orleans, Louisiana; to acquire 86.39 
percent of the voting shares of Peoples Bank of Louisiana, Amite, 
    C. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Gifford Bancorp, Inc. Employee Stock Ownership Plan, Gifford, 
Illinois; to acquire 48.8 percent of the voting shares of Gifford 
Bancorp, Inc., Gifford, Illinois, and thereby indirectly acquire 
Gifford State Bank, Gifford, Illinois.
    D. Federal Reserve Bank of San Francisco (Pat Marshall, Manager of 
Analytical Support, Consumer

[[Page 64590]]

Regulation Group) 101 Market Street, San Francisco, California 94105-
    1. First Security Corporation, Salt Lake City, Utah; to merge with 
Rio Grande Bancshares, Inc., Las Cruces, New Mexico, and thereby 
indirectly acquire First National Bank of Dona Ana County, Las Cruces, 
New Mexico, and First National Bank of Chaves County, Roswell, New 

    Board of Governors of the Federal Reserve System, December 3, 
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-32055 Filed 12-5-97; 8:45 am]