[Federal Register Volume 62, Number 19 (Wednesday, January 29, 1997)]
[Notices]
[Page 4289]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-2125]



[[Page 4289]]

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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. Once the application has been accepted 
for processing, it will also 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, including whether the acquisition of the nonbanking company can 
``reasonably be expected to produce benefits to the public, such as 
greater convenience, increased competition, or gains in efficiency, 
that outweigh possible adverse effects, such as undue concentration of 
resources, decreased or unfair competition, conflicts of interests, or 
unsound banking practices'' (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 February 21, 1997.
    A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. NewSouth Bancorp, Inc., Washington, North Carolina; to become a 
bank holding company by acquiring 100 percent of the voting shares of 
NewSouth Bank, Washington, North Carolina. NewSouth Bank is the 
proposed successor by charter conversion to Home Savings Bank, SSB, 
Washington, North Carolina.
    B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. Provincial Corp., Minneapolis, Minnesota; to become a bank 
holding company by acquiring 100 percent of the voting shares of First 
Heritage Bank, Lakeville, Minnesota, a de novo bank.

    Board of Governors of the Federal Reserve System, January 23, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-2125 Filed 1-28-97; 8:45 am]
BILLING CODE 6210-01-F