03-3515. Change in Bank Control Notices; Acquisition of Shares of Bank or Bank Holding Companies

The notificants listed below have applied under the Change in Bank Control Act (12 U.S.C. 1817(j)) and § 225.41 of the Board’s Regulation Y (12 CFR 225.41) to acquire a bank or bank holding company. The factors that are considered in acting on the notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).

The notices are available for immediate inspection at the Federal Reserve Bank indicated. The notices also will be available for inspection at the office of the Board of Governors. Interested persons may express their views in writing to the Reserve Bank indicated for that notice or to the offices of the Board of Governors. Comments must be received not later than February 28, 2003.

A. Federal Reserve Bank of Minneapolis (Richard M. Todd, Vice President and Community Affairs Officer) 90 Hennepin Avenue, Minneapolis, Minnesota 55480-0291:

1. Philip R. Forstrom, Clara City, Minnesota, Perry D. Forstrom, Spicer, Minnesota, and John T. Forstrom, Independence, Minnesota; as a group acting in concert, to acquire control of First State Agency of Lake Lillian, Inc., Lake Lillian, Minnesota, and thereby indirectly acquire control of First State Bank, Lake Lillian, Minnesota.

Board of Governors of the Federal Reserve System, February 7, 2003.

Jennifer J. Johnson,

Secretary of the Board.