[Federal Register Volume 63, Number 42 (Wednesday, March 4, 1998)]
[Notices]
[Page 10621]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-5565]


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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 March 30, 1998.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. The 1855 Bancorp, New Bedford, Massachusetts; to acquire 24.9 
percent of the voting shares of Sandwich Bancorp, Inc., Sandwich, 
Massachusetts, and thereby indirectly acquire Sandwich Co-operative 
Bank, Sandwich, Massachusetts.
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. ISB Financial Corp., and Central Iowa Bancorporation, both of 
Iowa City, Iowa; to acquire up to 100 percent of the voting shares of 
Conrad Bancorporation, Conrad, Iowa, and thereby indirectly acquire 
First State Bank, Conrad, Iowa.
    In connection with this application, Central Iowa Bancorporation, 
Iowa City, Iowa; has applied to become a bank holding company by 
acquiring 100 percent of the voting shares of Conrad Bancorporation, 
Conrad, Iowa.
    2. Founders Financial Corporation, Grand Rapids, Michigan (in 
formation); to become a bank holding company by acquiring 100 percent 
of the voting shares of Founders Trust Personal Bank, Grand Rapids, 
Michigan.

    Board of Governors of the Federal Reserve System, February 27, 
1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-5565 Filed 3-3-98; 8:45 am]
BILLING CODE 6210-01-F