[Federal Register Volume 60, Number 246 (Friday, December 22, 1995)]
[Notices]
[Page 66551]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31149]



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FEDERAL RESERVE SYSTEM

Regions Financial Corporation; Formation of, Acquisition by, or 
Merger of Bank Holding Companies; and Acquisition of Nonbanking Company

    The company listed in this notice has applied under Sec.  225.14 of 
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
bank holding company or to acquire voting securities of a bank or bank 
holding company. The listed company also has given notice under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the under 
section 4(c)(8) of the Bank Holding Company Act (12 U.S.C. 1843(c)(8)) 
and Sec.  225.21(a) of Regulation Y (12 CFR 225.21(a)) to acquire or 
control voting securities or assets of a company engaged in a 
nonbanking activity that is listed in Sec.  225.25 of Regulation Y as 
closely related to banking and permissible for bank holding companies, 
or to engage in such an activity. Unless otherwise noted, these 
activities will be conducted throughout the United States.
    The application is 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 question whether consummation of the proposal to 
acquire the non-banking subsidiaries can ``reasonably be expected to 
produce benefits to the public, such as greater convenience, increased 
competition, or gains in efficiency, that outweigh possible adverse 
effects, such as undue concentration of resources, decreased or unfair 
competition, conflicts of interests, or unsound banking practices.'' 
Any request for a hearing on this question must be accompanied by a 
statement of the reasons a written presentation would not suffice in 
lieu of a hearing, identifying specifically any questions of fact that 
are in dispute, summarizing the evidence that would be presented at a 
hearing, and indicating how the party commenting would be aggrieved by 
approval of the proposal.
    Comments regarding the application must be received at the Reserve 
Bank indicated or the offices of the Board of Governors not later than 
January 19, 1996.
    A. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Regions Financial Corporation, Birmingham, Alabama, and Regions 
Merger Subsidiary, Inc., Gainesville, Georgia; to acquire 100 percent 
of the voting shares of First National Bancorp, Gainesville, Georgia, 
and thereby indirectly acquire The First National Bank of Gainesville, 
Gainesville, Georgia; First National Bank of Habersham, Cornelia, 
Georgia; Granite City Bank, Elberton, Georgia; Bank of Clayton, 
Clayton, Georgia; First National Bank of White County; Cleveland, 
Georgia; The Citizens Bank, Toccoa, Georgia; Bank of Banks County, 
Homer, Georgia; First National Bank of Gilmer County, Ellijay, Georgia; 
The Peoples Bank of Forsyth County, Cumming, Georgia; Pickens County 
Bank, Jasper, Georgia; The First National Bank of Paulding County, 
Dallas, Georgia; Citizens Bank, Ball Ground, Georgia; Bank of Villa 
Rica, Villa Rica, Georgia; The Community Bank of Carrollton, 
Carrollton, Georgia; The Commercial Bank, Douglasville, Georgia; Barrow 
Bank & Trust Company, Winder, Georgia; and The Key Bank of Florida, 
Tampa, Florida.
    In addition to this application, Regions Merger Subsidiary, Inc., 
Gainesville, Georgia, has applied to become a bank holding company, by 
merging with First National Bancorp, Gainesville, Georgia.
    In connection these applications, Applicants also have applied to 
acquire FF Bancorp, Inc., New Smyrna Beach, Flordia, and thereby 
indirectly acquire First Federal Savings Bank of New Smyrna, New Smyrna 
Beach, Florida, and First Federal Savings Bank of Citrus County, 
Inverness, Florida, and thereby engage in operating a savings 
association, pursuant to Sec.  225.25(b)(9) of the Board's Regulation 
Y.

    Board of Governors of the Federal Reserve System, December 18, 
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31149 Filed 12-21-95; 8:45 am]
BILLING CODE 6210-01-F