[Federal Register Volume 61, Number 40 (Wednesday, February 28, 1996)]
[Notices]
[Pages 7519-7520]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4448]
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FEDERAL RESERVE SYSTEM
George Mason Bankshares, Inc., et al.; Formations of,
Acquisitions by, and Mergers of Bank Holding Companies; and
Acquisitions of Nonbanking Companies
The companies listed in this notice have applied under Sec. 225.14
of the Board's Regulation Y (12 CFR 225.14) for the Board's approval
under section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to
become a bank holding company or to acquire voting securities of a bank
or bank holding company and their subsidiaries. The listed companies
have also applied under Sec. 225.23(a)(2) of Regulation Y (12 CFR
225.23(a)(2)) for the Board's approval under section 4(c)(8) of the
Bank Holding Company Act (12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of
Regulation Y (12 CFR 225.21(a)) to acquire or control voting securities
or assets of a company engaged in a nonbanking activity that is listed
in Sec. 225.25 of Regulation Y as closely related to banking and
permissible for bank holding companies, or to engage in such an
activity. Unless otherwise noted, these activities will be conducted
throughout the United States.
The applications 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 question whether consummation of the proposal 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.'' Any request for a hearing on this question
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, 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 March 22, 1996.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. George Mason Bankshares, Inc., Fairfax, Virginia; and Mason
Holding Corporation, Fairfax, Virginia; to acquire 100 percent of the
voting shares of The Palmer National Bancorp, Inc., Washington, D.C.,
and thereby indirectly acquire The Palmer National Bank, Washington,
D.C.
In connection with this application, Applicants also have applied
to acquire Palmer National Mortgage, Inc., Rockville, Maryland, and
thereby indirectly acquire in making, acquiring, or servicing loans or
other extensions of credit for the company's account or for the account
of others, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
In addition, Mason Holding Corporation, Fairfax, Virginia, also has
applied to become a bank holding company by acquiring 100 percent of
the voting shares of The Palmer National Bancorp, Inc., Washington,
D.C., and thereby indirectly acquire The Palmer National Bank,
Washington, D.C.
[[Page 7520]]
Board of Governors of the Federal Reserve System, February 22,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-4448 Filed 2-27-96; 8:45 am]
BILLING CODE 6210-01-F
