[Federal Register Volume 71, Number 202 (Thursday, October 19, 2006)]
[Notices]
[Page 61776]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-17372]


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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 November 13, 2006.
    A. Federal Reserve Bank of Boston (Richard Walker, Community 
Affairs Officer) P.O. Box 55882, Boston, Massachusetts 02106-2204:
    1. Higher One Inc., New Haven, Connecticut; to become a bank 
holding company by acquiring 100 percent of the voting shares of Higher 
One Bank, New Haven, Connecticut (in formation).
    In connection with this application, Applicant also has applied to 
engage in data processing activities, pursuant to section 
225.28(b)(14)(i) of Regulation Y.
    B. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice 
President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Palmetto State Bankshares, Inc., Hampton, South Carolina; to 
acquire 100 percent of the voting shares of The Exchange Bankshares, 
Inc., Estill, South Carolina, and thereby indirectly acquire The 
Exchange Bank, Estill, South Carolina.
    In connection with this application, Applicant also has applied to 
acquire 100 percent of the voting shares of Carolina Commercial Bank, 
Allendale, South Carolina.
    C. Federal Reserve Bank of Atlanta (Andre Anderson, Vice President) 
1000 Peachtree Street, N.E., Atlanta, Georgia 30309:
    1. Atlantic Southern Financial Group, Inc., Macon, Georgia; to 
merge with Sapelo Bancshares, Inc., Darien, Georgia, and thereby 
indirectly acquire Sapelo National Bank, Darien, Georgia.
    2. Embassy Bancshares, Inc., Snellville, Georgia; to become a bank 
holding company by acquiring 100 percent of the voting shares of 
Embassy National Bank, Lawrenceville, Georgia (in organization).

    Board of Governors of the Federal Reserve System, October 13, 
2006.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. E6-17372 Filed 10-18-06; 8:45 am]
BILLING CODE 6210-01-S