[Federal Register: June 21, 1999 (Volume 64, Number 118)]
[Notices]               
[Page 33081]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr21jn99-61]                         

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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 (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 July 15, 1999.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Peoples Bancorp of North Carolina, Inc., Newton, North Carolina; 
to become a bank holding company by acquiring 100 percent of the voting 
shares of Peoples Bank, Newton, North Carolina.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. United Community Banks, Inc., Blairsville, Georgia; to merge 
with 1st Floyd Bankshares, Inc., Rome, Georgia, and thereby indirectly 
acquire 1st Floyd Bank, Rome, Georgia.
    C. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Mahaska Investment Company, Oskaloosa, Iowa; to acquire 100 
percent of the voting shares of Pella State Bank, Pella, Iowa (in 
organization).
    2. Old Kent Financial Corporation, Grand Rapids, Michigan; to merge 
with Pinnacle Banc Group, Inc., Oak Brook, Illinois, and thereby 
indirectly acquire Pinnacle Bank, Cicero, Illinois, and Pinnacle Bank 
of the Quad-Cities, Silvis, Illinois.
    In connection with this application, Applicant also has applied to 
acquire, indirectly through Pinnacle Banc Group, Inc., Oakbrook, 
Illinois, more than 5 percent of the voting shares of Dovenmuehle 
Mortgage Company, L.P., Schaumburg, Illinois, and thereby engage in 
making, acquiring, brokering or servicing loans or other extensions of 
credit, pursuant to Sec.  225.28(b)(1) of Regulation Y.

    Board of Governors of the Federal Reserve System, June 15, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-15695 Filed 6-18-99; 8:45 am]
BILLING CODE 6210-01-F