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

[Federal Register: February 17, 1999 (Volume 64, Number 31)]

[Notices]

[Page 7892]

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

[DOCID:fr17fe99-99]

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. 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 March 12, 1999.

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

   1. 1st State Bancorp, Inc., Burlington, North Carolina; to become a bank holding company by acquiring 100 percent of the voting shares of 1st State Bank, Burlington, North Carolina.

   2. 1st State Bank Foundation, Inc., Burlington, North Carolina; to become a bank holding company by acquiring 14.7 percent of the voting shares of 1st State Bancorp, Inc., Burlington, North Carolina, and thereby acquire 1st State Bank, Burlington, North Carolina.

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

   1. Community First Bancshares, Inc., New Iberia, Louisiana; to become a bank holding company by acquiring 100 percent of the voting shares of Community First Bank, New Iberia, Louisiana (in organization).

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

   1. Metroplex North Bancshares, Inc., Employee Stock Ownership Plan, Celeste, Texas; to become a bank holding company by acquiring 29.8 percent of the voting shares of Metroplex North Bancshares, Inc., Celeste, Texas, and thereby indirectly acquire The First Bank of Celeste, Celeste, Texas.

   Board of Governors of the Federal Reserve System, February 10, 1999. Robert deV. Frierson, Associate Secretary of the Board.

   [FR Doc. 99-3740Filed2-16-99; 8:45 am]

   BILLING CODE 6210-01-F