[Federal Register Volume 68, Number 9 (Tuesday, January 14, 2003)]
[Notices]
[Page 1851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-670]


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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. 
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 February 7, 2003.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Forest Merger Corporation and FBR TRS Holdings, Inc., both in 
Arlington, Virginia; to become bank holding companies by merging with 
Friedman, Billings, Ramsey Group, Inc., and FBR Asset Investment 
Corporation, both in Arlington, Virginia, and thereby indirectly 
acquiring FBR Bancorp, Inc., Arlington, Virginia, and FBR National Bank 
and Trust, Bethesda, Maryland. After the merger, Applicants would be 
renamed Friedman, Billings, Ramsey Group, Inc.
    Applicants also have applied to acquire indirectly more than 5 
percent of the voting shares of Pacific Credit Capital, Inc., and its 
subsidiary Pacific Crest Bank, both in Agoura Hills, California; 
Hingham Institution for Savings, Hingham, Massachusetts; ITLA Capital 
Corporation, and its subsidiary, Imperial Capital Bank, both in La 
Jolla, California.
    Applicants also have applied to acquire indirectly more than 5 
percent of the voting shares of Quaker City Bancorp, Inc., and its 
subsidiary, Quaker City Bank, both in Whittier, California; and First 
Bell Bancorp, Inc., Pittsburgh, Pennsylvania, and its subsidiary Bell 
Federal Savings and Loan Association, Bellevue, Pennsylvania, and 
thereby engage in operating savings associations, pursuant to Sec.  
228.25(b)(4) of Regulation Y.
    2. MountainBank Financial Corporation, Hendersonville, North 
Carolina; to merge with Cardinal Bankshares Corporation, Floyd, 
Virginia, and thereby indirectly acquire voting shares of The Bank of 
Floyd, Floyd, Virginia.
    3. MountainBank Financial Corporation, Hendersonville, North 
Carolina; to merge with CNB Holdings, Inc., Pulaski, Virginia, and 
thereby indirectly acquire voting shares of Community National Bank, 
Pulaski, Virginia.

    Board of Governors of the Federal Reserve System, January 8, 
2003.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 03-670 Filed 1-13-03; 8:45 am]
BILLING CODE 6210-01-S