[Federal Register Volume 63, Number 143 (Monday, July 27, 1998)]
[Notices]
[Pages 40123-40124]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-19999]


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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

[[Page 40124]]

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 21, 1998.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. First Union Corporation, Charlotte, North Carolina; to increase 
its investment in United Bancshares, Inc., Philadelphia, Pennsylvania, 
and thereby indirectly acquire nonvoting common stock of United Bank of 
Philadelphia, Philadelphia, Pennsylvania.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. First American Corporation, Nashville, Tennessee; to merge with 
Pioneer Bancshares, Inc., Chattanooga, Tennessee, and thereby 
indirectly acquire Pioneer Bank, Chattanooga, Tennessee; Valley Bank, 
Sweetwater, Tennessee, and Pioneer Bank, FSB, East Ridge, Tennessee.
    In connection with this application, Applicant has also applied to 
engage in operating a savings association, pursuant to Sec.  
225.28(b)(4)(ii) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 22, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-19999 Filed 7-24-98; 8:45 am]
BILLING CODE 6210-01-F