02-11240. 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 (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/​.

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 May 31, 2002.

A. Federal Reserve Bank of Richmond (A. Linwood Gill, III, Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:

1. Community Bankshares, Inc., Orangeburg, South Carolina; to merge with Ridgeway Bancshares, Inc., Ridgeway, South Carolina, and thereby indirectly acquire voting shares of The Bank of Ridgeway, Ridgeway, South Carolina.

2. First Citizens Bancorporation of South Carolina, Inc., Columbia, South Carolina; to acquire up to 10 percent of the voting shares of Trinity Bank, Monroe, North Carolina.

B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice President) 411 Locust Street, St. Louis, Missouri 63166-2034:

1. First Southern Bancshares, Inc., Carbondale, Illinois; to become a bank holding company by acquiring 100 percent of the voting shares of Shawnee Bancshares, Inc., Grand Tower, Illinois, and thereby indirectly acquire voting shares of Shawnee State Bank, Grand Tower, Illinois.

C. Federal Reserve Bank of San Francisco (Maria Villanueva, Consumer Regulation Group) 101 Market Street, San Francisco, California 94105-1579:

1. First Financial Holding Co., Ltd., Taipei, Taiwan (in formation); to become a bank holding company by acquiring 100 percent of the voting shares of First Commercial Bank Co., Ltd., Taipei, Taiwan, and thereby indirectly acquire voting shares of First Commercial Bank (USA), Alhambra, California.

2. Bank of Taiwan, Taipei, Taiwan; to acquire at least 12.32 percent of the voting shares of First Financial Holding Co., Ltd., Taipei, Taiwan, and thereby indirectly acquire voting shares of First Commercial Bank Co., Ltd., Taipei, Taiwan, and First Commercial Bank (USA), Alhambra, California.

Board of Governors of the Federal Reserve System, May 1, 2002.

Robert deV. Frierson,

Deputy Secretary of the Board.