[Federal Register Volume 63, Number 101 (Wednesday, May 27, 1998)]
[Notices]
[Page 29013]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13914]


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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. 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 June 19, 1998.
    A. Federal Reserve Bank of Cleveland (Paul Kaboth, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. Citizens Bancshares, Inc., Salineville, Ohio; to acquire 10 
percent of the voting shares of NSD Bancorp, Inc., Pittsburgh, 
Pennsylvania, and thereby indirectly acquire Northside Deposit Bank, 
Pittsburgh, Pennsylvania.
    2. Premier Financial Bancorp, Inc., Georgetown, Kentucky; to 
acquire 100 percent of the voting shares of The Bank of Philippi, Inc., 
Philippi, West Virginia (in organization).
    B. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 90 Hennepin Avenue, P.O. Box 291, Minneapolis, Minnesota 
55480-0291:
    1. Frandsen Financial Corporation, Forest Lake, Minnesota; to merge 
with Taylor Bancshares, Inc., North Mankato, Minnesota, and thereby 
indirectly acquire Fidelity State Bank of Fairfax, Fairfax, Minnesota; 
Fidelity State Bank of Hector, Hector, Minnesota; Valley Bank 
Minnesota, Jordan, Minnesota; Farmers Bank, Minnesota Lake, Minnesota; 
State Bank & Trust Company of New Ulm, New Ulm, Minnesota; and Valley 
Bank, North Mankato, Minnesota.
    C. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. United Security Bancorporation, Spokane, Washington; to acquire 
100 percent of the voting shares of Grant National Bank, Ephrata, 
Washington.

    Board of Governors of the Federal Reserve System, May 20, 1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-13914 Filed 5-26-98; 8:45 am]
BILLING CODE 6210-01-F