01-22168. 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. The application also will 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 (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be conducted throughout the United States. Additional information on all bank holding companies may be obtained from the National Information Center website at www.ffiec.gov/​nic/​.

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 September 28, 2001.

A. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, Assistant Vice President) 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291:

1. Frandsen Financial Corporation, Arden Hills, Minnesota; to acquire 100 percent of the voting shares of F&M Bank Minnesota, Dundas, Minnesota.

B. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272:

1. Spector Holdings Management, LLC, San Antonio, Texas; to become a bank holding company by acquiring 1 percent of the voting shares of, and become the general partner of, Spector Holdings Limited Partnership, San Antonio, Texas, and thereby indirectly acquire voting shares of Luling Bancshares, Inc., Luling, Texas, Luling Delaware Financial Corporation, Dover, Delaware, and Citizens State Bank, Luling, Texas.

In connection with this application, Spector Holdings Limited Partnership, San Antonio, Texas, has applied to become a bank holding by acquiring 57.9 percent of the voting shares of Luling Bancshares, Inc., Luling, Texas, and thereby indirectly acquire voting shares of Luling Delaware Financial Corporation, Dover, Delaware, and Citizens State Bank, Luling, Texas.

Also, Luling Bancshares, Inc., Luling, Texas, has applied to become a bank holding company by acquiring 100 percent of the voting shares of Luling Delaware Financial Corporation, Dover, Delaware, and Citizens State Bank, Luling, Texas. Luling Delaware Financial Corporation also has applied to become a bank holding company.

Board of Governors of the Federal Reserve System, August 29, 2001.

Robert deV. Frierson,

Deputy Secretary of the Board.