[Federal Register: February 1, 1999 (Volume 64, Number 20)]
[Notices]               
[Page 4873]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01fe99-75]


[[Page 4873]]

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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 February 25, 1999.
    A. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. First Banking Company of Southeast Georgia, Statesboro, Georgia; 
to merge with Wayne Bancorp, Inc., Jesup, Georgia.
    B. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Hometown Independent Bancorp, Inc., Morton, Illinois; to acquire 
100 percent of the voting shares of Sunstar Bank, Washington, Illinois.
    2. The Morton Community Bank Employee Stock Ownership Plan and 
Trust, Morton, Illinois; to become a bank holding company by acquiring 
33.70 percent of the voting shares of Hometown Independent Bancorp, 
Inc., Morton, Illinois, and thereby indirectly acquire Morton Community 
Bank, Morton, Illinois.
    C. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Franklin Bancshares, Inc., Franklin, Illinois; to become a bank 
holding company by acquiring 100 percent of the voting shares of 
Franklin Bank, Franklin, Illinois.
    D. Federal Reserve Bank of Minneapolis (JoAnne F. Lewellen, 
Assistant Vice President) 90 Hennepin Avenue, P.O. Box 291, 
Minneapolis, Minnesota 55480-0291:
    1. CNB, Inc. Walker, Minnesota; to become a bank holding company by 
acquiring at least 95 percent of the voting shares of Centennial 
National Bank, Walker, Minnesota.
    2. Otto Bremer Foundation, St. Paul, Minnesota; and Bremer 
Financial Corporation, St. Paul, Minnesota; to acquire 100 percent of 
the voting shares of Dean Financial Services, Inc., St. Paul, 
Minnesota, and thereby indirectly acquire First National Corporation of 
Aitkin, Inc., Aitkin, Minnesota, First National Bank of Aitkin, Aitkin, 
Minnesota, Mid-Continent Financial Services, Inc., St. Paul, Minnesota, 
State Bank of Edgerton, Edgerton, Minnesota, First State Bank of Eden 
Prairie, Eden Prairie, Minnesota, and Princeton Bank, Princeton, 
Minnesota.
    E. Federal Reserve Bank of Dallas (W. Arthur Tribble, Vice 
President) 2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. La Plata Bancshares, Inc., Hereford, Texas, and La Plata 
Delaware Bancshares, Inc., Dover, Delaware; to become bank holding 
companies by acquiring 100 percent of the voting shares of The First 
National Bank of Hereford, Hereford, Texas.
    2. Bauer Management, Inc., Port Lavaca, Texas; to acquire 1 percent 
of the voting shares of Bauer Investments, Ltd., Port Lavaca, Texas, 
and thereby acquire 60.30 percent of the voting shares of The First 
National Bank, Port Lavaca, Texas, and thereby indirectly acquire 63.5 
percent of the voting shares of Seaport Bank, Seadrift, Texas.

    Board of Governors of the Federal Reserve System, January 26, 
1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-2237 Filed 1-29-99; 8:45 am]
BILLING CODE 6210-01-F