19494 Federal Register / Vol. 63, No. 75 / Monday, April 20, 1998 / Notices

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 15, 1998.

A. Federal Reserve Bank of Boston

(Richard Walker, Community Affairs

Officer) 600 Atlantic Avenue, Boston,

Massachusetts 02106-2204:

1. New England Community Bancorp,

Inc., Windsor, Connecticut; to become a

bank holding company by acquiring 100

percent of the voting shares of Olde Port

Bank & Trust Company, Portsmouth,

New Hampshire.

B. Federal Reserve Bank of

Philadelphia (Michael E. Collins, Senior

Vice President) 100 North 6th Street,

Philadelphia, Pennsylvania 19105-1521:

1. Dauphin Bancorp, Harrisburg,

Pennsylvania; to acquire 39.16 percent

of the voting shares of First National

Bank of Liverpool, Liverpool,

Pennsylvania.

C. Federal Reserve Bank of

Richmond (A. Linwood Gill III,

Assistant Vice President) 701 East Byrd

Street, Richmond, Virginia 23261-4528:

1. ECB Bancorp, Inc., Engelhard,

North Carolina; to become a bank

holding company by acquiring 100

percent of the voting shares of The East

Carolina Bank, Engelhard, North

Carolina.

D. Federal Reserve Bank of Atlanta

(Lois Berthaume, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303-2713:

1. United Community Bancshares,

Inc., Gonzales, Louisiana; to become a

bank holding company by acquiring 100

percent of the voting shares of United

Community Bank, Gonzales, Louisiana

(in organization).

E. Federal Reserve Bank of San

Francisco (Maria Villanueva, Manager

of Analytical Support, Consumer

Regulation Group) 101 Market Street,

San Francisco, California 94105-1579:

1. InterWest Bancorp, Inc., Oak

Harbor, Washington; to acquire 100

percent of the voting shares of Pacific

Northwest Bank, Seattle, Washington.

2. InterWest Bancorp, Inc., Oak

Harbor, Washington; to merge with

Pioneer Bancorp, Inc., Yakima,

Washington, and thereby indirectly

acquire Pioneer National Bank, Yakima,

Washington.

Board of Governors of the Federal Reserve

System, April 15, 1998.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 98–10365 Filed 4–17–98; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Notice of Proposal to Engage in

Permissible Nonbanking Activities or

to Acquire Companies that are

Engaged in Permissible Nonbanking

Activities; Correction

This notice corrects a notice (FR Doc.

98-9668) published on page 18022 of the

issue for Monday, April 13, 1998.

Under the Federal Reserve Bank of

Kansas City heading, the entry for

Southeast Capital Corp., Idabel,

Oklahoma, is revised to read as follows:

A. Federal Reserve Bank of Kansas

City (D. Michael Manies, Assistant Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198-0001:

1. Southeast Capital Corp., and

Southeast Capital Corp. ESOP, both of

Idabel, Oklahoma; to engage de novo in

community development activities

through the leasing of real property to

the State of Oklahoma, pursuant to §

225.28(b)(12)(i) of the Board’s

Regulation Y.

Comments on this application must

be received by April 28, 1998.

Board of Governors of the Federal Reserve

System, April 15, 1998.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 98–10366 Filed 4–17–98; 8:45 am]

BILLING CODE 6210–01–F

FEDERAL RESERVE SYSTEM

Notice of Proposals to Engage in

Permissible Nonbanking Activities or

to Acquire Companies that are

Engaged in Permissible Nonbanking

Activities

The companies listed in this notice

have given notice under section 4 of the

Bank Holding Company Act (12 U.S.C.

1843) (BHC Act) and Regulation Y, (12

CFR Part 225) to engage de novo, or to

acquire or control voting securities or

assets of a company, including the

companies listed below, that engages

either directly or through a subsidiary or

other company, in a nonbanking activity

that is listed in § 225.28 of Regulation

Y (12 CFR 225.28) or that the Board has

determined by Order to be closely

related to banking and permissible for

bank holding companies. Unless

otherwise noted, these activities will be

conducted throughout the United States.

Each notice is available for inspection

at the Federal Reserve Bank indicated.

The notice also will be available for

inspection at the offices of the Board of

Governors. Interested persons may

express their views in writing on the

question whether the proposal complies

with the standards of section 4 of the

BHC Act.

Unless otherwise noted, comments

regarding the applications must be

received at the Reserve Bank indicated

or the offices of the Board of Governors

not later than May 5, 1998.

A. Federal Reserve Bank of

Richmond (A. Linwood Gill III,

Assistant Vice President) 701 East Byrd

Street, Richmond, Virginia 23261-4528:

1. Wachovia Corporation, WinstonSalem, North Carolina (‘‘Company’’); to

engage de novo through its subsidiary,

Wachovia Capital Markets, Inc.,

Winston-Salem, North Carolina, in

certain nonbanking activities, including

the following: underwriting and dealing

in securities such as: municipal revenue

bonds and asset-backed and mortgagerelated securities, defined as obligations

secured by or representing an interest in

1-4 family residential real estate. See

Citicorp, 73 Fed. Res. Bull. 473 (1987),

as modified; J.P. Morgan & Co., 75 Fed.

Res. Bull. (1989) as modified.

In addition, the Company intends to

engage in the following securities and

other financial activities: making,

acquiring and servicing loans or other

extensions of credit, pursuant to §

225.28(b)(1) of Regulation Y; and in

activities related to extending credit,

pursuant to § 225.28(b)(2) of Regulation

Y; leasing personal or real property or

acting as agent, broker or adviser in

leasing such property if the lease is on

a nonoperating basis, pursuant to §

225.28(b)(3) of Regulation Y; performing

functions and activities that may be

performed by a trust company

(including activities of a fiduciary,

agency, or custodial nature), pursuant to

§ 225.28(b)(5) of Regulation Y; acting as

an investment or financial advisor,

pursuant to § 225.28(b)(6) of Regulation

Y; providing securities brokerage

services (including securities clearing

and/or securities execution services on

an exchange), whether alone or in

combination with investment advisory

services, and incidental activities

(including related securities credit

activities and custodial services),

pursuant to § 225.28(b)(7)(i) of

Regulation Y; buying and selling in the

secondary market all types of securities

on the order of customers as ‘‘riskless

principal,’’ pursuant to § 225.28(b)(7)(ii)

of Regulation Y; acting as agent for the

private placement of various types of

securities, pursuant to § 225.28(b)(7)(iii)

of Regulation Y; and in investment

transactions as principal including

underwriting and dealing in bankeligible securities, pursuant to §

225.28(b)(8) of Regulation Y; and

providing management consulting