[Federal Register Volume 64, Number 45 (Tuesday, March 9, 1999)]
[Notices]
[Page 11473]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-5731]


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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 April 2, 1999.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
    1. Asian Financial Corporation, Philadelphia, Pennsylvania; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of Asian Bank, Philadelphia, Pennsylvania.
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. C-B-G, Inc., Wilton, Iowa; to acquire up to 100 percent of the 
voting shares of Peoples National Corporation, Columbus Junction, Iowa, 
and thereby indirectly acquire Community Bank, Muscatine, Iowa. 
Comments regarding this application must be received not later than 
March 23, 1999.
    C. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, P.O. Box 291, 
Minneapolis, Minnesota 55480-0291:
    1. Stearns Financial Services, Inc. Employee Stock Ownership Plan 
and Trust, St. Cloud, Minnesota; to acquire an additional 5.5 percent 
of the voting shares of Stearns Financial Services, Inc., St. Cloud, 
Minnesota, and thereby indirectly acquire Stearns Bank Arizona, 
Scottsdale, Arizona; Stearns Bank, N.A., Holdingford, Minnesota; 
Stearns Bank Canby, N.A., Canby, Minnesota; Stearns Bank, N.A., Upsala, 
Minnesota; Stearns Bank, N.A., St. Cloud, Minnesota; and Stearns Bank, 
N.A., Evansville, Minnesota.
    C. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. First National Bank of Nevada Holding Company, Scottsdale, 
Arizona; to acquire 100 percent of the voting shares of First Bank of 
Arizona, N.A., Scottsdale, Arizona.

    Board of Governors of the Federal Reserve System, March 3, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-5731 Filed 3-8-99; 8:45 am]
BILLING CODE 6210-01-F