[Federal Register Volume 63, Number 224 (Friday, November 20, 1998)]
[Notices]
[Page 64511]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-31019]



[[Page 64511]]

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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 14, 1998.
    A. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. Regions Financial Corporation, Birmingham, Alabama; to merge 
with Arkansas Banking Company, Jonesboro, Arkansas, and thereby 
indirectly acquire The Arkansas Bank, Jonesboro, Arkansas; The Arkansas 
Bank, Walnut Ridge, Arkansas; The Planters Bank, Osceola, Arkansas; and 
The Arkansas Bank, N.A., Batesville, Arkansas.
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. New Century Bancorp, Southfield, Michigan; to become a bank 
holding company by acquiring 100 percent of the voting shares of New 
Century Bank, Southfield, Michigan (in organization).
    2. Tower Financial Corporation, Fort Wayne, Indiana; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Tower Bank & Trust Company, Fort Wayne, Indiana (in organization).
    C. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Union Planters Corporation, Memphis, Tennessee, and its wholly 
owned subsidiary, Union Planters Holding Corporation, Memphis, 
Tennessee; to acquire 100 percent of the voting shares of Southeast 
Bancorp, Inc., Corbin, Kentucky, and thereby indirectly acquire The 
First National Bank and Trust Company of Corbin, Corbin, Kentucky, and 
First Bank of East Tennessee, N.A., LaFollette, Tennessee.
    D. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. Heritage Financial Corporation, Olympia, Washington; to merge 
with Harbor Bancorp, Inc., Aberdeen, Washington, and thereby indirectly 
acquire Bank of Grays Harbor, Aberdeen, Washington.
    2. Heritage Financial Corporation, Olympia, Washington; to merge 
with Washington Independent Bancshares, Inc., Toppenish, Washington, 
and thereby indirectly acquire Central Valley Bank, National 
Association, Toppenish, Washington.

    Board of Governors of the Federal Reserve System, November 16, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-31019 Filed 11-9-8; 8:45 am]
BILLING CODE 6210-1-F