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

[Federal Register: December 28, 1999 (Volume 64, Number 248)]

[Notices]

[Page 72668]

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

[DOCID:fr28de99-99]

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 (12 U.S.C. 1843). 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 January 20, 2000.

1. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:

   1. Bank of America Corporation, and NB Holdings Corporation, both of Charlotte, North Carolina; to acquire 100 percent of the voting shares of Bank of America Oregon, National Association, Portland, Oregon (in organization).

2. Federal Reserve Bank of Atlanta (Cynthia Goodwin, Vice President) 104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:

   1. NBG Bancorp, Inc., Athens, Georgia; to become a bank holding company by acquiring 100 percent of the voting shares of The National Bank of Georgia, Athens, Georgia (in organization).

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

   1. Zumbrota Agency, Inc., Zumbrota, Minnesota, and its wholly-owned subsidiary, Pine Island Bancshares, Inc., Zumbrota, Minnesota; to acquire 100 percent of the voting shares of Tri County Investment Company, Inc., Pine Island, Minnesota, and thereby indirectly acquire Security State Bank of Pine Island, Pine Island, Minnesota. In addition, Applicants also have applied to become bank holding companies.

   In connection with this application, Applicants also have applied to acquire the insurance agency activity of Tri County Investment Company, Inc., Pine Island, Minnesota, and thereby engage in general insurance agency activities in a community with a population not exceeding 5,000, pursuant to Sec. 225.28(b)(11)(iii) of Regulation Y.

   Board of Governors of the Federal Reserve System, December 21, 1999. Jennifer J. Johnson, Secretary of the Board.

   [FR Doc. 99-33543Filed12-27-99; 8:45 am]

   BILLING CODE 6210-01-F