[Federal Register Volume 62, Number 66 (Monday, April 7, 1997)]
[Notices]
[Pages 16579-16580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8772]


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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. 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 May 1, 1997.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045-0001:
    1. Korea Long Term Credit Bank, Seoul, Korea; to acquire 9.51 
percent of the voting shares of Nara Bank, National Association, Los 
Angeles, California.
    B. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
    1. Century Bancorp, MHC, Bridgeton, New Jersey, and Century 
Bancorp, Inc., Bridgeton, New Jersey; to become bank holding companies 
by acquiring 100 percent of the voting shares of Century Savings Bank, 
Bridgeton, New Jersey.
    C. Federal Reserve Bank of Cleveland (R. Chris Moore, Senior Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. PHS Bancorp, M.H.C., Beaver Falls, Pennsylvania; to become a 
bank holding company by acquiring 51 percent of the voting shares of 
Peoples Home Savings Bank, Beaver Falls, Pennsylvania.
    D. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. Allied Irish Banks, p.l.c., Dublin, Ireland, and First Maryland 
Bancorp, Baltimore, Maryland (collectively, ``Applicants''), to merge 
with Dauphin Deposit Corporation (``Dauphin'') and thereby indirectly 
acquire Dauphin Deposit Bank and Trust Company, both of Harrisburg, 
Pennsylvania. Applicants also have applied to exercise an option to 
acquire up to 19.9 percent of the voting shares of Dauphin.
    Applicants also have provided notice to acquire Hopper Soliday & 
Co., Inc., Lancaster, Pennsylvania, and thereby engage in underwriting 
and dealing in debt securities, equity securities, and bank-eligible 
instruments, acting as agent in the private placement of securities, 
buying and selling all types of securities on the order of customers as 
a ``riskless principal,'' providing investment and financial advisory 
services, and providing securities brokerage services alone or in 
combination with investment advisory services to both institutional and 
retail customers with respect to ineligible securities that Hopper 
Soliday may hold as principal in connection with its authorized 
underwriting and dealing activities, pursuant to Board Order dated June 
24, 1991 and approval received from the Federal Reserve Bank of 
Philadelphia dated April 6, 1995; Dauphin Life Insurance Company, 
Harrisburg, Pennsylvania, and thereby engage in selling and reinsuring 
credit life, health, and accident insurance directly related to 
extensions of credit by Dauphin Bank, pursuant to Sec.  225.25(b)(8)(i) 
of the Board's Regulation Y; and Loans USA, Incorporated, Pasadena, 
Maryland, a joint venture that engages in making, acquiring, brokering 
or servicing loans or other extensions of credit (including factoring, 
issuing letters of credit and accepting drafts) for its own account or 
for the account of others, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y, providing tax preparation services to any person, 
pursuant to Sec.  225.25(b)(21) of the Board's Regulation Y, and 
providing data processing and data transmission services, pursuant to 
Sec.  225.25(b)(7) of the Board's Regulation Y, and selling and 
reinsuring credit life, health and accident insurance directly related 
to extensions of credit to its customers, pursuant to Sec.  
225.25(b)(8)(ii) of the Board's Regulation Y.
    E. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480-2171:
    1. First Bank System, Inc., Minneapolis Minnesota; to acquire 100 
percent of the voting shares of First Bank of South Dakota (National 
Association) Sioux Falls, South Dakota, a de novo bank.
    In connection with this application, Applicant also has applied to 
acquire First Interim Bank of Casper, fsb, Casper, Wyoming, and First 
Interim Bank of Cheyenne, FSB, Cheyenne, Wyoming, and thereby engage in 
operating two de novo thrift institutions, pursuant to Sec.  
225.25(b)(9) of the Board's Regulation Y. In addition, each of the 
above thrifts will acquire seven Wyoming branches of First Bank, 
FSB,Fargo, North Dakota, an existing subsidiary of First Bank System, 
Inc.
    F. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200

[[Page 16580]]

North Pearl Street, Dallas, Texas 75201-2272:
    1. Premier Bancshares, Inc., La Grange, Texas, and Premier Holdings 
- Nevada, Inc., Carson City, Nevada; to acquire 100 percent of the 
voting shares of Citizens State Bank, Hempstead, Texas.
    G. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105-1579:
    1. Imperial Bancorp, Inglewood, California; to acquire 100 percent 
of the voting shares of Imperial Bank Arizona, Phoenix, Arizona, a de 
novo bank (in formation).

    Board of Governors of the Federal Reserve System, April 1, 1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-8772 Filed 4-4-97; 8:45 am]
BILLING CODE 6210-01-F