[Federal Register Volume 61, Number 190 (Monday, September 30, 1996)]
[Notices]
[Pages 51114-51115]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-24914]
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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
[[Page 51115]]
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'' (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 October 25, 1996.
A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. Iroquois Bancorp, Inc., Auburn, New York; to become a bank
holding company by acquiring 100 percent of the voting shares of Cayuga
Bank, a de novo bank, Auburn, New York, and Cayuga Savings Bank,
Auburn, New York.
In connection with this application, Applicant also has applied to
acquire Homestead Savings, F.A., Utica, New York; Cayuga Financial
Services, Inc., Auburn, New York; H.S. Service Corporation, Waterville,
New York; and Cayuga Financial Services, Inc., Auburn, New York, and
thereby engage in operating a savings association, pursuant to Sec.
225.25(b)(9) of the Board's Regulation Y; in insurance agency
activities in a town with a population of less than 5,000, pursuant to
Sec. 225.25(b)(8)(iii) of the Board's Regulation Y; in securities
brokerage activities, pursuant to Sec. 225.25(b)(15) of the Board's
Regulation Y; and de novo indirectly in investment and financial
advisory service activities, pursuant to Sec. 225.25(b)(4) of the
Board's Regulation Y.
B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Ida Grove Bancshares, Inc., Ida Grove, Iowa, and American
Bancshares, Inc., Holstein, Iowa, to acquire 100 percent of the voting
shares of Pierson Bancorporation, Inc., Pierson, Iowa, and thereby
indirectly acquire Farmers Savings Bank, Pierson, Iowa.
C. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. MNB Bancshares, Inc., Malvern, Arkansas; to acquire 100 percent
of the voting shares of The Malvern National Interim Bank, Malvern,
Arkansas, and thereby indirectly acquire First National Interim Bank of
Sheridan, Sheridan, Arkansas, upon consummation. The interim banks will
be merged into The Malvern National Bank, Malvern, Arkansas, and First
National Bank of Sheridan, Sheridan, Arkansas.
D. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Sankovitz Family Limited Partnership, Waseca, Minnesota; to
become a bank holding company by acquiring 100 percent of the voting
shares of Franksen Investment Corporation, Waseca, Minnesota, and
thereby indirectly acquire First National Bank of Waseca, Waseca,
Minnesota.
Board of Governors of the Federal Reserve System, September 24,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-24914 Filed 9-27-96; 8:45 am]
BILLING CODE 6210-01-F
