Banks and bank holding companies: Formations, acquisitions, and mergers,

[Federal Register: September 17, 1998 (Volume 63, Number 180)]

[Notices]

[Page 49695]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr17se98-50]

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 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. 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 12, 1998.

1. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:

   1. Oconee Financial Corporation, Watkinsville, Georgia; to become a bank holding company by acquiring 100 percent of the voting shares of Oconee State Bank, Watkinsville, Georgia.

2. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, Assistant Vice President) 90 Hennepin Avenue, P.O. Box 291, Minneapolis, Minnesota 55480-0291:

   1. Northern Star Financial, Inc., Mankato, Minnesota to become a bank holding company by acquiring 100 percent of the voting shares of Northern Star Bank, Mankato, Minnesota.

3. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager of Analytical Support, Consumer Regulation Group) 101 Market Street, San Francisco, California 94105-1579:

   1. California Community Financial Institutions Fund Limited Partnership, San Francisco, California; Belvedere Capital Partners, Inc., San Francisco, California; and California Financial Bancorp, Newport Beach, California; to acquire 100 percent of the voting shares of The Bank of Orange County, Fountain Valley, California.

   2. California Community Financial Institutions Fund Limited Partnership, San Francisco, California; Belvedere Capital Partners, Inc., San Francisco, California; and California Financial Bancorp, Newport Beach, California; to merge with Downey Bancorp, Downey, California, and thereby indirectly acquire Downey National Bank, Downey, California.

   Board of Governors of the Federal Reserve System, September 11, 1998. Robert deV. Frierson, Associate Secretary of the Board.

   [FR Doc. 98-24943Filed9-16-98; 8:45 am]

   BILLING CODE 6210-01-F