[Federal Register Volume 60, Number 187 (Wednesday, September 27, 1995)]
[Notices]
[Page 49847]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-23924]
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FEDERAL RESERVE SYSTEM
West One Bancorp; 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
October 20, 1995.
A. Federal Reserve Bank of San Francisco (Kenneth R. Binning,
Director, Bank Holding Company) 101 Market Street, San Francisco,
California 94105:
1. U.S. Bancorp, Portland, Oregon; to acquire 100 percent of the
voting shares of West One Bancorp, Boise, Idaho, and thereby indirectly
acquire West One Bank, Idaho, Boise, Idaho; West One Bank, Oregon,
Portland, Oregon; West One Bank, Oregon, S.B., Hillsboro, Oregon; West
One Bank Washington, Seattle, Washington; West One Bank, Utah, Salt
Lake City, Utah; and Idaho First Bank, Boise, Idaho.
In connection with this application, U.S. Bancorp also has applied
to acquire West One Trust Company, Salt Lake City, Utah, and West One
Trust Company, Washington, Seattle, Washington; and thereby engage in
trust company services, pursuant to Sec. 225.25(b)(3) of the Board's
Regulation Y; West One Life Insurance Company, Phoenix, Arizona; and
thereby engage in credit life and disability reinsurance, pursuant to
Sec. 225.25(b)(8)(i) of the Board's Regulation Y; West One Financial
Services, Inc., Boise, Idaho, and thereby engage in residential and
commercial mortgage servicing, pursuant to Sec. 225.25(b)(1)(iii) of
the Board's Regulation Y.
In addition to this application, U.S. Bancorp has applied to
acquire 19.9 percent of the voting shares of West One Bancorp, and West
One Bancorp has applied to acquire 19.9 percent of the voting shares of
U.S. Bancorp, Portland, Oregon, and thereby indirectly acquire U.S.
National Bank of Oregon, Portland, Oregon; U.S. Bank of Idaho, N.A.,
Coeur D'Alene, Idaho; U.S. Bank of Nevada, Reno, Nevada; U.S. Bank of
Washington N.A., Seattle, Washington; U.S. Bank of California,
Sacramento, California; U.S. Bank of Southwest Washington, Vancouver,
Washington; U.S. Bank, N.A., Beaverton, Oregon; U.S. Savings Bank of
Washington, Bellingham, Washington; and First State Bank of Oregon,
Canby, Oregon.
Board of Governors of the Federal Reserve System, September 20,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-23924 Filed 9-26-95; 8:45 am]
BILLING CODE 6210-01-F
