[Federal Register Volume 63, Number 222 (Wednesday, November 18, 1998)]
[Notices]
[Pages 64088-64089]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-30776]


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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 11, 1998.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
    1. Marlborough Bancorp, Marlborough, Massachusetts; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Marlborough Co-Operative Bank, Marlborough, Massachusetts.
    B. Federal Reserve Bank of Philadelphia, (Michael E. Collins, 
Senior Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 
19105-1521:
    1. Commerce Bancorp, Inc., Cherry Hill, New Jersey; to acquire 100 
percent of the voting shares of Prestige Financial

[[Page 64089]]

Corp., Flemington, New Jersey, and Prestige State Bank, Flemington, New 
Jersey.
    C. 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 acquire 
additional nonvoting common stock of United Bancshares, Inc., 
Philadelphia, Pennsylvania, and thereby increase its investment in 
United Bank of Philadelphia.
    D. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Peotone Bancorp, Inc., Peotone, Illinois, and its subsidiary, 
Southwest Bancorp, Inc., Worth, Illinois; to retain direct and indirect 
ownership of 7.98 percent of the voting shares of Bank of the San 
Juans, Durango, Colorado.

    Board of Governors of the Federal Reserve System, November 12, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-30776 Filed 11-17-98; 8:45 am]
BILLING CODE 6210-01-F