[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