[Federal Register Volume 64, Number 99 (Monday, May 24, 1999)]
[Notices]
[Page 27990]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-13088]
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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. 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 June 23, 1999.
A. Federal Reserve Bank of Boston (Richard Walker, Community
Affairs Officer) 600 Atlantic Avenue, Boston, Massachusetts 02106-2204:
1. Fleet Financial Group, Inc., Boston, Massachusetts; to acquire
100 percent of the voting shares of BankBoston Corporation, Boston,
Massachusetts, and thereby indirectly acquire BankBoston, National
Association, Boston, Massachusetts; BankBoston Maine, National
Association, South Portland, Maine; and Bank of Boston - Florida,
National Association, Boca Raton, Florida.
In connection with this application, Applicant also has applied to
acquire all of BankBoston's direct and indirect nonbank subsidiaries
including, BancBoston Robertson Stephens, Inc., Boston, Massachusetts,
and thereby engage in underwriting bank ineligible securities,
including equity securities and high yield debt, both through public
offerings and private placements; providing advice in connection with
mergers and acquisitions; brokerage activities; providing equity
research to institutional and high net worth customers, pursuant to Secs.
225.28(b)(1), (6), (7) and (8) of Regulation Y, see Bank of Boston
Corp., 74 Fed. Res. Bull. 10 (1988); Bank of Boston Corp., 83 Fed. Res.
Bull. 10 (1997); BankBoston Corp., 84 Fed. Res. Bull. 10 (1998); RIHT
Life Insurance Company, Phoenix, Arizona, and thereby engage in
reinsuring credit life and health insurance for borrowers of
BankBoston, N.A. or its subsidiaries in connection with extensions of
credit to such borrowers, pursuant to Sec. 225.28(b)(11) of Regulation
Y; BancBoston Leasing Investments, Inc., Boston, Massachusetts, and
thereby engage in leasing personal and real property, pursuant to Sec.
225.28(b)(3) of Regulation Y; BancBoston Investments, Inc., Boston,
Massachusetts, and thereby engage in venture capital investments,
including secured and unsecured lending and voting and nonvoting equity
investments, pursuant to Sec. 225.28(b)(1) of Regulation Y; Back Bay
Capital Funding LLC, Wilmington, Delaware, and thereby engage in asset-
based lending, pursuant to Sec. 225.28(b)(1) of Regulation Y;
BankBoston (NH), N.A., Nashua, New Hampshire, and thereby engage in
certain credit card activities, pursuant to Sec. 225.28(b)(1) of
Regulation Y; Partners First Holdings LLC, Delaware, and thereby engage
in credit card activities, pursuant to Sec. 225.28(b)(1) of Regulation
Y; Partners First Receivables LLC, Delaware, and thereby engage in
credit card activities, pursuant to Sec. 225.28(b)(1) of Regulation Y;
Partners First Funding LLC, Delaware, and thereby engage in credit card
activities, pursuant to Sec. 225.28(b)(1) of Regulation Y.
B. Federal Reserve Bank of Kansas City (D. Michael Manies,
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri
64198-0001:
1. J.R. Montgomery Bancorporation, Lawton, Oklahoma; to acquire an
additional 11.8 percent, for a total of 50.1 percent of the voting
shares of Fort Sill National Bank, Fort Sill, Oklahoma. Comments
regarding this application must be received not later than June 18,
1999.
C. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager
of Analytical Support, Consumer Regulation Group) 101 Market Street,
San Francisco, California 94105-1579:
1. Pacific Community Banking Group, Laguna Hills, California; to
become a bank holding company by acquiring 100 percent of the voting
shares of The Bank of Hemet, Riverside, California, and Valley Bank,
Moreno Valley, California. Comments regarding this application must be
received not later than June 18, 1999.
Board of Governors of the Federal Reserve System, May 19, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-13088 Filed 5-21-99; 8:45 am]
BILLING CODE 6210-01-F
