[Federal Register Volume 62, Number 12 (Friday, January 17, 1997)]
[Notices]
[Pages 2667-2668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-1183]
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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.
[[Page 2668]]
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. Once the application has been accepted
for processing, it will also 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, including whether the acquisition of the nonbanking company can
``reasonably be expected to produce benefits to the public, such as
greater convenience, increased competition, or gains in efficiency,
that outweigh possible adverse effects, such as undue concentration of
resources, decreased or unfair competition, conflicts of interests, or
unsound banking practices'' (12 U.S.C. 1843). Any request for a
hearing must be accompanied by a statement of the reasons a written
presentation would not suffice in lieu of a hearing, identifying
specifically any questions of fact that are in dispute, summarizing the
evidence that would be presented at a hearing, and indicating how the
party commenting would be aggrieved by approval of the proposal. 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 February 10, 1997.
A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. Cumberland Bancorp, Inc., Carthage, Tennessee; to acquire 100
percent of the voting shares of First Federal Bancshares, Inc.,
Memphis, Tennessee, and thereby indirectly acquire First Federal Bank,
FSB, Memphis, Tennessee, and First Federal Bank, FSB, Nashville,
Tennessee. These institutions will convert to bank charters.
B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; to acquire 100
percent of the voting shares of Farmers National Bancorp, Inc.,
Geneseo, Illinois, and thereby indirectly acquire Farmers National Bank
of Geneseo, Geneseo, Illinois.
Board of Governors of the Federal Reserve System, January 13,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-1183 Filed 1-16-97; 8:45 am]
BILLING CODE 6210-01-F
