E8-28715. 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 applications 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/​.

Comments regarding each of application must be received at the Reserve Bank indicated or the offices of the Board of Governors by the date indicated.

A. Federal Reserve Bank of Atlanta (Steve Foley, Vice President) 1000 Peachtree Street, N.E., Atlanta, Georgia 30309:

1. Educational Funding of the South, Inc., Knoxville, Tennessee, to become a bank holding company by acquiring 100 percent of the voting shares of Community Bank of the Cumberlands, Jamestown, Tennessee.

Comments regarding this application must be received by December 26, 2008.

B. Federal Reserve Bank of San Francisco (Kenneth Binning, Vice President, Applications and Enforcement) 101 Market Street, San Francisco, California 94105-1579:

1. 1st Security Bancorp, Inc., to become a bank holding company by acquiring 100 percent of the voting shares of 1st Security Bank of Washington, both of Mountlake Terrace, Washington.

Comments regarding this application must be received by December 29, 2008.

Board of Governors of the Federal Reserve System, December 1, 2008.

Robert deV. Frierson,

Deputy Secretary of the Board.