[Federal Register Volume 65, Number 50 (Tuesday, March 14, 2000)]
[Notices]
[Pages 13765-13766]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-6136]


-----------------------------------------------------------------------

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. 
Additional information on all bank holding companies may be obtained 
from the National Information Center website at www.ffiec.gov/nic/.
    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 7, 2000.
    A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. The Charles Schwab Corporation, Wilmington, Delaware; to become 
a bank holding company by acquiring U.S. Trust Corporation, New York, 
New York, and U.S.T.L.P.O. Corp., Wilmington, Delaware (a bank holding 
company with respect to U.S.T. Company of Texas, National Association, 
Dallas, Texas), and thereby indirectly acquire United States Trust 
Company of New York, New York, New York; U.S. Trust Company National 
Association, Los Angeles, California; U.S. Trust Company, Greenwich, 
Connecticut; U.S. Trust Company of New Jersey, Princeton, New Jersey; 
and U.S. Trust Company of Texas, National Association, Dallas, Texas.
    In connection with this application, Applicant also has applied to 
acquire U.S. Trust Company of Florida Savings Bank, Palm Beach, 
Florida, and thereby engage in operating a savings and loan 
association, pursuant to Sec. 225.28(b)(4)(ii) of Regulation Y; U.S. 
Trust Company of Delaware, Wilmington, Delaware, and U.S. Trust Company 
of North Carolina, Greensboro, North Carolina, and thereby engage in 
trust company functions, pursuant to Sec. 225.28(b)(5) of Regulation Y; 
and NCT Opportunities, Inc., Greensboro, North Carolina, and CTC 
Consulting, Inc., Portland, Oregon, and thereby engage in providing 
financial and investment advice, pursuant to Sec. 225.28(b)(6) of 
Regulation Y.
    In addition to the application, Applicant also has applied to 
retain voting shares of U.S. Trust Company of North Carolina, 
Greensboro, North Carolina, upon the nondepository trust company 
becoming a bank as defined by the Bank Holding Company Act, by 
accepting FDIC insured deposits and NCT Holdings, Inc., Greensboro, 
North Carolina, on becoming an intermediate bank holding company with 
respect to U.S. Trust Company of North Carolina. Applicant also has an 
option, subject to the terms of the stock option agreement, to exercise 
its option to purchase up to 19.9 percent of the outstanding common 
shares of U.S. Trust Corporation, New York, New York.
    B. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Anderson Bancshares, Inc., Hemingway, South Carolina; to merge 
with Anderson Brothers Bancshares,

[[Page 13766]]

Inc., Mullins, South Carolina, and thereby indirectly acquire Anderson 
Brothers Bank, Mullins, South Carolina.
    C. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. Futurus Financial Services, Inc., Roswell, Georgia; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Futurus Bank, N.A. (in organization), Roswell, Georgia.
    D. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 
55480-0291:
    1. Waumandee Bancshares, Ltd., Waumandee, Wisconsin; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
Waumandee State Bank, Waumandee, Wisconsin.
    E. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice 
President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Corpus Christi Bancshares, Inc., Corpus Christi, Texas; to 
become a bank holding company by acquiring 100 percent of the voting 
shares of The First State Bank, Bishop, Texas.

    Board of Governors of the Federal Reserve System, March 8, 2000.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 00-6136 Filed 3-13-00; 8:45 am]
BILLING CODE 6210-01-P