[Federal Register Volume 63, Number 92 (Wednesday, May 13, 1998)]
[Notices]
[Page 26607]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-12657]


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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 June 8, 1998.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Union Bankshares Corporation, Bowling Green, Virginia; to merge 
with Rappahannock Bankshares, Inc., Washington, Virginia, and thereby 
indirectly acquire The Rappahannock National Bank of Washington, 
Washington, Virginia.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. First TeleBanc Corporation, Sanford, Florida; to become a bank 
holding company by acquiring 100 percent of the voting shares of Boca 
Raton First National Bank, Boca Raton, Florida.
    2. Regions Financial Corporation, Birmingham, Alabama; to merge 
with Villages Bankshares, Inc., Tampa, Florida, and thereby indirectly 
acquire The Village Bank of Florida, Tampa, Florida.
    3. Regions Financial Corporation, Birmingham, Alabama; to merge 
with First Community Banking Services (formerly Fayette County 
Bancshares), Peachtree City, Georgia, and thereby indirectly acquire 
First Community Bank (formerly Fayette County Bank), Peachtree City, 
Georgia
    4. Regions Financial Corporation, Birmingham, Alabama; to acquire 
100 percent of the voting shares of Etowah Bank, Canton, Georgia.

    Board of Governors of the Federal Reserve System, May 8, 1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-12657 Filed 5-12-98; 8:45 am]
BILLING CODE 6210-01-F