[Federal Register Volume 64, Number 141 (Friday, July 23, 1999)]
[Notices]
[Pages 40006-40007]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-18781]


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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 (12 U.S.C. 1843). 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 16, 1999.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Canadian Imperial Bank of Commerce, The CIBC World Markets 
Corporation, CIBC World Markets, Inc., all of Ontario, Canada, and CIBC 
Delaware Holdings Inc., New York, New York; to become bank holding 
companies by acquiring 100 percent of the voting shares of CIBC 
National Bank, Maitland, Florida.
    B. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. Oak Hill Financial, Inc., Jackson, Ohio (Oak Hill); to acquire 
all of the voting shares of Towne Bank, Cincinnati, Ohio. As described 
below, Towne Bank would be formed through the conversion of Blue Ash 
Building and Loan Company, Cincinnati, Ohio, into a state-chartered 
bank.
    In connection with this proposal, Oak Hill has filed notice under 
section 4 of the BHC Act to acquire Towne Financial, Inc., Cincinnati, 
Ohio, and thereby indirectly acquire Blue Ash Building and Loan 
Company, Cincinnati, which currently is a wholly-owned subsidiary of 
Towne Financial, Inc., and thereby engage in operating a savings 
association, pursuant to Sec.  225.28(b)(4) of Regulation Y. After this 
acquisition, Oak Hill would convert Blue Ash Building and Loan Company 
into a state-chartered bank and the institution would be renamed Towne 
Bank.
    2. Sky Financial Group, Inc., Bowling Green, Ohio; to merge with 
Mahoning National Bancorp, Inc., Youngstown, Ohio, and thereby 
indirectly acquire Mahoning National Bank, Youngstown, Ohio.
    C. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. Skylake Bankshares, Inc., North Miami Beach, Florida; to merge 
with Kislak Financial Corporation, Miami Lakes, Florida, and thereby 
indirectly acquire Kislak National Bank, North Miami, Florida.
    D. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Delta Trust & Banking Corporation, Little Rock, Arkansas; to 
become a bank holding company by acquiring at least 80 percent of the 
voting shares of SEA Bancshares, Inc., Parkdale, Arkansas, and thereby 
indirectly acquire voting shares of Southeast Arkansas Bank, Parkdale, 
Arkansas.
    E. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, P.O. Box 291, 
Minneapolis, Minnesota 55480-0291:
    1. Milk River Banquo, Inc., Malta, Montana; to become a bank 
holding company by acquiring 81.45 percent of the voting shares of 
Malta Banquo, Inc., Malta, Montana, and thereby indirectly acquire 
First Security Bank of Malta, Malta, Montana, and Valley Bank of 
Glasgow, Glasgow, Montana.
    F. Federal Reserve Bank of Kansas City (D. Michael Manies, 
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 
64198-0001:
    1. Hillcrest Bancshares, Inc., Overland Park, Kansas; to acquire 
100 percent of the voting shares of American Bank, Wichita, Kansas.
    G. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice 
President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Western Commerce Bank Stock Bonus Plan and Trust Agreement, 
Carlsbad, New Mexico; to become a bank holding company by acquiring 29 
percent of the voting shares of Western Commerce Bancshares of 
Carlsbad, Inc., Carlsbad, New Mexico, and thereby indirectly acquire 
voting shares of Western Commerce Bank, Carlsbad, New Mexico.
    2. The Jere J. Ruff Family Limited Partnership II, Longview, Texas 
(in formation); to become a bank holding company by acquiring 38 
percent of the voting shares of The First State Bank, Hallsville, 
Texas.
    H. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. Wallowa Bancorp, Joseph, Oregon; to become a bank holding 
company by acquiring 100 percent of the voting shares of Community 
Bancshares, Inc., Joseph, Oregon, and thereby indirectly acquire voting 
shares of Community Bank, Joseph, Oregon.
    In connection with this application, Applicant has also applied to 
acquire Citizens Title & Escrow Service, Inc., Enterprise, Oregon, and 
thereby engage in insurance agency activities in small towns and escrow 
service activities pursuant to Secs.  225.28(b)(11)(iii) and 
225.28(b)(5) of Regulation Y.
    2. Zions Bancorporation, Salt Lake City, Utah; to merge with 
Regency Bancorp, Fresno, California, and thereby indirectly acquire 
Regency Bank, Fresno, California.
    In connection with this application, Applicant has also applied to 
acquire Regency Investment Advisors, Fresno, California, and thereby 
engage in financial and investment advisory activities, pursuant to 
Sec.  225.28(b)(6) of Regulation Y; and in providing securities 
brokerage, private placement, riskless principal, futures commission 
merchant and other agency transactional services for customer 
investments,

[[Page 40007]]

pursuant to Sec.  225.28(b)(7) of Regulation Y.

    Board of Governors of the Federal Reserve System, July 19, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-18781 Filed 7-22-99; 8:45 am]
BILLING CODE 6210-01-F