[Federal Register Volume 63, Number 122 (Thursday, June 25, 1998)]
[Notices]
[Page 34651]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-16836]


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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 July 19, 1998.
    A. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 90 Hennepin Avenue, P.O. Box 291, Minneapolis, Minnesota 
55480-0291:
    1. Community Bank Minnesota Employee Stock Ownership Plan, 
Owatonna, Minnesota; to become a bank holding company by acquiring an 
additional 9.57 percent, for a total of 29.70 percent, of the voting 
shares of Owatonna Bancshares, Inc., Owatonna, Minnesota, and thereby 
indirectly acquire Community Bank Minnesota, Owatonna, Minnesota.
    2. Norwest Corporation, Minneapolis, Minnesota; to acquire 100 
percent of the voting shares of Star Bancshares, Inc., Austin, Texas, 
and thereby indirectly acquire Star Bancshares of Nevada, Inc., Carson 
City, Nevada, and First State Bank, Austin, Texas.
    B. Federal Reserve Bank of Dallas (W. Arthur Tribble, President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Independent Bankshares, Inc., Abiliene, Texas; to acquire 100 
percent of the voting shares of Azle Bancorp, Azle, Texas, and thereby 
indirectly acquire Azle Holdings, Inc., Azle, Texas, and Azle State 
Bank, Azle, Texas.
    2. McLaughlin Bancshares, Inc., Ralls, Texas; to acquire 100 
percent of the voting shares of First Petersburg Bancshares, Inc., 
Petersburg, Texas, and thereby indirectly acquire First State Bank, 
Petersburg, Texas.

    Board of Governors of the Federal Reserve System, June 19, 1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-16836 Filed 6-24-98; 8:45 am]
BILLING CODE 6210-01-F