[Federal Register Volume 59, Number 148 (Wednesday, August 3, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-18854]
[[Page Unknown]]
[Federal Register: August 3, 1994]
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FEDERAL RESERVE SYSTEM
Hibernia Corporation; Formation of, Acquisition by, or Merger of
Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has 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. The listed company has 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 application is 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
August 26, 1994.
A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. Hibernia Corporation, New Orleans, Louisiana; to merge with
Pioneer Bancshares Corporation, Shreveport, Louisiana, and thereby
indirectly acquire Pioneer Bank & Trust Company, Shreveport, Louisiana.
In connection with this application, Applicant has also applied to
acquired Zachary Taylor Life Insurance Company, Shreveport, Louisiana
(``COMPANY''). COMPANY is a Louisiana corporation which maintains a
license to engage in business as a life insurance company, but has not
engaged in such activities since July 1, 1982, and will not engage in
such activity pursuant to the terms of a commitment dated July 14,
1982, by Bancshares to the Federal Reserve Bank of Dallas (the
``Commitment'') without the prior written approval of the Federal
Reserve Bank of Dallas. COMPANY does not presently actively engage in
any business activity, and, in the event Applicant acquires all of the
issued and outstanding shares of COMPANY pursuant to the Holding
Company Merger, Applicant will honor the Commitment and will not cause
or permit COMPANY to engage in any insurance or other business activity
without the prior written approval of the Federal Reserve Bank of
Atlanta.
Board of Governors of the Federal Reserve System, July 28, 1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-18854 Filed 8-2-94; 8:45 am]
BILLING CODE 6210-01-F
