[Federal Register Volume 61, Number 109 (Wednesday, June 5, 1996)]
[Notices]
[Pages 28585-28586]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-14029]
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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
[[Page 28586]]
adverse effects, such as undue concentration of resources, decreased or
unfair competition, conflicts of interests, or unsound banking
practices'' (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 June 28, 1996.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Assabet Valley Bancorp, Hudson, Massachusetts; to become a bank
holding company by acquiring 100 percent of the voting shares of Hudson
Savings Bank, Hudson, Massachusetts.
2. UFS Bancorp, Whitinsville, Massachusetts; to become a bank
holding company by acquiring 100 percent of the voting shares of
UniBank for Savings, Whitinsville, Massachusetts.
B. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. HUBCO, Inc., Mahwah, New Jersey; to merge with Hometown
Bancorporation, Inc., Darien, Connecticut, and thereby indirectly
acquire The Bank of Darien, Darien, Connecticut.
2. Toronto-Dominion Bank, Toronto, Canada, and TD/Oak, Inc., New
York, New York; to become bank holding companies by acquiring up to 100
percent of the voting shares of Waterhouse Investor Services, Inc., New
York, New York, and thereby indirectly acquire Waterhouse National
Bank, White Plains, New York.
In addition, Toronto-Dominion Bank, Toronto, Canada, also has
applied to acquire up to 6.9 percent of the voting shares of Waterhouse
Investor Services, Inc., New York, New York, and thereby indirectly
acquire Waterhouse National Bank, White Plains, New York.
In connection with this application, Applicants also have applied
to acquire Waterhouse Securities New York, Inc., and thereby indirectly
acquire Washington Discount Brokerage Corp., both of New York, and
thereby engage in securities brokerage services restricted to buying
and selling securities solely as agent for the account of customers,
pursuant to Sec. 225.25(b)(15)(i) of the Board's Regulation Y; in
providing execution, clearing and other services incidental to
brokerage, for affiliates and for third-parties, pursuant to Sec.
225.25(b)(15)(i) of the Board's Regulation Y; in the purchase and sale
of securities on the order of customers as riskless principal, pursuant
to authority granted in previous Board Orders (Bankers Trust New York
Corp., 75 Fed. Res. Bull. 829); and in software development activities
incidental to its securities brokerage business, pursuant to Secs.
225.25(b)(7)&(15) of the Board's Regulation Y, through the acquisition
of a 50 percent interest in a joint venture, Marketware International,
Inc.
C. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. Fidelity National Corporation, Decatur, Georgia; to acquire 100
percent of the voting shares of Friendship Community Bank, Ocala,
Florida.
D. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. Citizens Holding Corporation ESOP, Keenesburg, Colorado; to
acquire up to 35 percent of the voting shares of Citizens State Bank,
Keenesburg, Colorado.
E. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. Oakwood Bancshares, Inc., Roanoke, Texas; to become a bank
holding company by acquiring 100 percent of the voting shares of
Oakwood Nevada Financial Corporation, Reno, Nevada, and thereby
indirectly acquire Oakwood National Bank, Westlake, Texas, a de novo
bank.
In connection with this application, Oakwood Nevada Financial
Corporation, Reno, Nevada, also has applied to become a bank holding
company by acquiring 100 percent of the voting shares of Oakwood
National Bank, Westlake, Texas a de novo bank.
F. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. Frontier Financial Corporation, Everett, Washington; to acquire
9.9 percent of the voting shares of Washington Banking Company, Oak
Harbor, Washington (formerly known as Western Washington Bancorp.), and
thereby indirectly acquire Whidbey Island Bank, Coupeville, Washington.
Board of Governors of the Federal Reserve System, May 30, 1996.
William W. Wiles,
Secretary of the Board.
[FR Doc. 96-14029 Filed 6-4-96; 8:45 am]
BILLING CODE 6210-01-F
