[Federal Register Volume 62, Number 166 (Wednesday, August 27, 1997)]
[Notices]
[Page 45421]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-22724]


-----------------------------------------------------------------------

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 September 19, 1997.
    A. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. First Union Corporation, Charlotte, North Carolina; to merge 
with Signet Banking Corporation, Richmond, Virginia, and thereby 
indirectly acquire Signet Bank, Richmond, Virginia.
    In connection with this application, Applicant has also applied to 
acquire Signet Commercial Credit Corporation, Richmond, Virginia, and 
thereby engage in making loans that are typically secured by inventory, 
accounts receivable or like security and are generally structured on a 
revolving basis, pursuant to Sec.  225.28(b)(1) of the Board's 
Regulation Y; Signet Insurance Services, Inc., Richmond, Virginia, and 
thereby engage in acting as an insurance agency that provides an 
extensive line of life and property/casualty insurance coverage as 
agent for both individuals and businesses, pursuant to Sec.  
225.28(b)(11)(iv) of the Board's Regulation Y; Signet Financial 
Services, Inc., Richmond, Virginia, and thereby engage in providing 
discount brokerage services, pursuant to Sec.  225.28(b)(7) of the 
Board's Regulation Y; Signet Trust Company, Richmond, Virginia, and 
thereby engage in trust company activities, pursuant to Sec.  
225.28(b)(5) of the Board's Regulation Y; Signet Strategic Capital 
Corporation, Richmond, Virginia, and thereby engage in providing 
investment advice as a commodity trading advisor with respect to the 
purchase and sale of financial futures contracts and options on 
financial futures contracts and providing foreign exchange advisory and 
transactional services, pursuant to Secs.  225.28(b)(7) and (b)(8) of 
the Board's Regulation Y; and Virtus Capital Management, Inc., 
Baltimore, Maryland, and thereby engage in acting as an investment 
advisor of various registered open-end management investment companies, 
mutual funds, etc., and sponsor of mutual funds, pursuant to Sec.  
225.28(b)(6) of the Board's Regulation Y.
    B. Federal Reserve Bank of Atlanta (Lois Berthaume, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303-2713:
    1. Landmark Bancorp, Inc., Margate, Florida; to become a bank 
holding company by acquiring 50.1 percent of the voting shares of 
Sunniland Bank, Fort Lauderdale, Florida.
    C. Federal Reserve Bank of Kansas City (D. Michael Manies, 
Assistant Vice President) 925 Grand Avenue, Kansas City, Missouri 
64198-0001:
    1. FirstBank Holding Company of Colorado, Lakewood, Colorado; to 
acquire 100 percent of the voting shares of FirstBank of Parker, 
Parker, Colorado, a de novo bank.
    D. Federal Reserve Bank of San Francisco (Pat Marshall, Manager of 
Analytical Support, Consumer Regulation Group) 101 Market Street, San 
Francisco, California 94105-1579:
    1. Olympic Bancorp, Port Orchard, Washington; to become a bank 
holding company by acquiring 100 percent of the voting shares of Kitsap 
Bank, Port Orchard, Washington.
    E. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. First Financial Bankshares, Inc., Abilene, Texas; to merge with 
Southlake Bancshares, Inc., Southlake, Texas, and thereby indirectly 
acquire Texas National Bank, Southlake, Texas.
    F. Federal Reserve Bank of San Francisco (Pat Marshall, Manager of 
Analytical Support, Consumer Regulation Group) 101 Market Street, San 
Francisco, California 94105-1579:
    1. Saehan Bancorp, Los Angeles, California; to become a bank 
holding company by acquiring 100 percent of the voting shares of Saehan 
Bank, Los Angeles, California.

    Board of Governors of the Federal Reserve System, August 21, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-22724 Filed 8-26-97; 8:45 am]
BILLING CODE 6210-01-F