[Federal Register Volume 62, Number 19 (Wednesday, January 29, 1997)]
[Notices]
[Page 4289]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-2125]
[[Page 4289]]
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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. 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). 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 21, 1997.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
1. NewSouth Bancorp, Inc., Washington, North Carolina; to become a
bank holding company by acquiring 100 percent of the voting shares of
NewSouth Bank, Washington, North Carolina. NewSouth Bank is the
proposed successor by charter conversion to Home Savings Bank, SSB,
Washington, North Carolina.
B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
1. Provincial Corp., Minneapolis, Minnesota; to become a bank
holding company by acquiring 100 percent of the voting shares of First
Heritage Bank, Lakeville, Minnesota, a de novo bank.
Board of Governors of the Federal Reserve System, January 23,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-2125 Filed 1-28-97; 8:45 am]
BILLING CODE 6210-01-F
