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

[Federal Register: April 22, 1999 (Volume 64, Number 77)]

[Notices]

[Page 19782]

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

[DOCID:fr22ap99-76]

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 May 17, 1999.

1. Federal Reserve Bank of Chicago (Philip Jackson, Applications Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:

   1. State Financial Services Corporation, Hales Corners, Wisconsin; to acquire 100 percent of the voting shares of First Waukegan Corporation, Waukegan, Wisconsin, and thereby indirectly acquire Bank of Northern Illinois, Waukegan, Illinois.

2. Federal Reserve Bank of Kansas City (D. Michael Manies, Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 64198-0001:

   1. Clear Creek Bank Corp., Idaho Springs, Colorado; to acquire 100 percent of the voting shares of High Desert State Bank, Albuquerque, New Mexico.

   2. Peoples Bank & Trust Company, Ryan, Oklahoma; to become a bank holding company by acquiring 100 percent of the voting shares of Peoples Bank & Trust Company, Ryan, Oklahoma.

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. Bank On It, Inc., Stockton, California; to become a bank holding company by acquiring 100 percent of the voting shares of Community Bank of San Joaquin, Stockton, California (in organization).

   2. Belvedere Capital Partners, Inc., and California Community Financial Institutions Fund, L.P., both of San Francisco, California; to acquire at least 54.85 percent of the voting shares of Cerritos Valley Bancorp, Norwalk, California, and thereby indirectly acquire Cerritos Valley Bank, Norwalk, California.

   3. Newco Alaska, Inc., Ketchikan, Alaska; to become a bank holding company by acquiring 100 percent of the voting shares of First Bancorp, Inc., Ketchikan, Alaska, and thereby indirectly acquire First Bank, Ketchikan, Alaska. Comments regarding this application must be received not later than May 6, 1999.

   Board of Governors of the Federal Reserve System, April 16, 1999. Jennifer J. Johnson, Secretary of the Board.

   [FR Doc. 99-10014Filed4-21-99; 8:45 am]

   BILLING CODE 6210-01-F