[Federal Register Volume 61, Number 112 (Monday, June 10, 1996)]
[Notices]
[Pages 29381-29382]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-14467]
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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''
[[Page 29382]]
(12 U.S.C. 1843). Any request for a hearing 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, 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 July 5, 1996.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Independent Bancshares, Inc., Clarkfield, Minnesota, a de novo
bank; to become a bank holding company by acquiring 100 percent of the
voting shares of Granite Holding Corporation, Granite Falls, Minnesota,
and thereby indirectly acquire Granite Falls Bank, Granite Falls,
Minnesota.
Board of Governors of the Federal Reserve System, June 4, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-14467 Filed 6-7-96; 8:45 am]
BILLING CODE 6210-01-F
