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

[Federal Register: October 13, 1998 (Volume 63, Number 197)]

[Notices]

[Page 54712]

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

[DOCID:fr13oc98-85]

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 November 6, 1998.

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

   1. City Holding Company, Charleston, West Virginia; to merge with Horizon Bancorp, Inc., Beckley, West Virginia, and thereby indirectly acquire Bank of Raleigh, Beckley, West Virginia; First National Bank of Marlinton, Marlinton, West Virginia; Greenbrier Valley National Bank, Lewisburg, West Virginia; National Bank of Summers, Hinton, West Virginia; and The Twentieth Street Bank, Huntington, West Virginia.

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

   1. Community Spirit Bancshares, Inc., Belmont, Mississippi; to become a bank holding company by acquiring 100 percent of the voting shares of Community Spirit Bank, Belmont, Mississippi (in organization).

   2. The Weatherford Foundation of Red Bay, AL, Inc., and Independent Bancshares, Inc., both of Red Bay, Alabama; to acquire 100 percent of the voting shares of Community Spirit Bancshares, Inc., Belmont, Mississippi (in organization), and thereby indirectly acquire Community Spirit Bank - Mississippi, Belmont, Mississippi (in organization).

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

   1. CDS Bancorp, Inc., Spirit Lake, Iowa; to become a bank holding company by acquiring 100 percent of the voting shares of First Bank & Trust, Spirit Lake, Iowa.

   2. Ida Grove Bancshares, Inc., Ida Grove, Iowa; to acquire 90 percent of the voting shares of First State Bank, Churdan, Iowa.

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

   1. Community Bancshares, Inc., ESOP, Neosho, Missouri; to acquire an additional 21.72 percent for a pro forma total of 50 percent of the voting shares of Community Bancshares, Inc., Neosho, Missouri, and thereby indirectly acquire Community Bank & Trust, Neosho, Missouri.

   Board of Governors of the Federal Reserve System, October 6, 1998. Robert deV. Frierson, Associate Secretary of the Board.

   [FR Doc. 98-27333Filed10-9-98; 8:45 am]

   BILLING CODE 6210-01-F