28586 Federal Register / Vol. 61, No. 109 / Wednesday, June 5, 1996 / Notices

adverse effects, such as undue

concentration of resources, decreased or

unfair competition, conflicts of

interests, or unsound banking practices’’

(12 U.S.C. 1843). Any request for

a hearing 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.

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 28, 1996.

A. Federal Reserve Bank of Boston

(Robert M. Brady, Vice President) 600

Atlantic Avenue, Boston, Massachusetts

02106:

1. Assabet Valley Bancorp, Hudson,

Massachusetts; to become a bank

holding company by acquiring 100

percent of the voting shares of Hudson

Savings Bank, Hudson, Massachusetts.

2. UFS Bancorp, Whitinsville,

Massachusetts; to become a bank

holding company by acquiring 100

percent of the voting shares of UniBank

for Savings, Whitinsville,

Massachusetts.

B. Federal Reserve Bank of New York

(Christopher J. McCurdy, Senior Vice

President) 33 Liberty Street, New York,

New York 10045:

1. HUBCO, Inc., Mahwah, New Jersey;

to merge with Hometown

Bancorporation, Inc., Darien,

Connecticut, and thereby indirectly

acquire The Bank of Darien, Darien,

Connecticut.

2. Toronto-Dominion Bank, Toronto,

Canada, and TD/Oak, Inc., New York,

New York; to become bank holding

companies by acquiring up to 100

percent of the voting shares of

Waterhouse Investor Services, Inc., New

York, New York, and thereby indirectly

acquire Waterhouse National Bank,

White Plains, New York.

In addition, Toronto-Dominion Bank,

Toronto, Canada, also has applied to

acquire up to 6.9 percent of the voting

shares of Waterhouse Investor Services,

Inc., New York, New York, and thereby

indirectly acquire Waterhouse National

Bank, White Plains, New York.

In connection with this application,

Applicants also have applied to acquire

Waterhouse Securities New York, Inc.,

and thereby indirectly acquire

Washington Discount Brokerage Corp.,

both of New York, and thereby engage

in securities brokerage services

restricted to buying and selling

securities solely as agent for the account

of customers, pursuant to §

225.25(b)(15)(i) of the Board’s

Regulation Y; in providing execution,

clearing and other services incidental to

brokerage, for affiliates and for thirdparties, pursuant to § 225.25(b)(15)(i) of

the Board’s Regulation Y; in the

purchase and sale of securities on the

order of customers as riskless principal,

pursuant to authority granted in

previous Board Orders (Bankers Trust

New York Corp., 75 Fed. Res. Bull. 829);

and in software development activities

incidental to its securities brokerage

business, pursuant to §§

225.25(b)(7)&(15) of the Board’s

Regulation Y, through the acquisition of

a 50 percent interest in a joint venture,

Marketware International, Inc.

C. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. Fidelity National Corporation,

Decatur, Georgia; to acquire 100 percent

of the voting shares of Friendship

Community Bank, Ocala, Florida.

D. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198:

1. Citizens Holding Corporation

ESOP, Keenesburg, Colorado; to acquire

up to 35 percent of the voting shares of

Citizens State Bank, Keenesburg,

Colorado.

E. Federal Reserve Bank of Dallas

(Genie D. Short, Vice President) 2200

North Pearl Street, Dallas, Texas 75201-

2272:

1. Oakwood Bancshares, Inc.,

Roanoke, Texas; to become a bank

holding company by acquiring 100

percent of the voting shares of Oakwood

Nevada Financial Corporation, Reno,

Nevada, and thereby indirectly acquire

Oakwood National Bank, Westlake,

Texas, a de novo bank.

In connection with this application,

Oakwood Nevada Financial

Corporation, Reno, Nevada, also has

applied to become a bank holding

company by acquiring 100 percent of

the voting shares of Oakwood National

Bank, Westlake, Texas a de novo bank.

F. Federal Reserve Bank of San

Francisco (Kenneth R. Binning,

Director, Bank Holding Company) 101

Market Street, San Francisco, California

94105:

1. Frontier Financial Corporation,

Everett, Washington; to acquire 9.9

percent of the voting shares of

Washington Banking Company, Oak

Harbor, Washington (formerly known as

Western Washington Bancorp.), and

thereby indirectly acquire Whidbey

Island Bank, Coupeville, Washington.

Board of Governors of the Federal Reserve

System, May 30, 1996.

William W. Wiles,

Secretary of the Board.

[FR Doc. 96–14029 Filed 6–4–96; 8:45 am]

BILLING CODE 6210–01–F

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,

including whether the acquisition of the

nonbanking company 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’’

(12 U.S.C. 1843). Any request for

a hearing 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.

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
Federal Register / Vol. 61, No. 109 / Wednesday, June 5, 1996 / Notices 28587

indicated or the offices of the Board of

Governors not later than July 1, 1996.

A. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. Appalachian Bancshares, Inc.,

Ellijay, Georgia; to become a bank

holding company by acquiring 100

percent of the voting shares of Gilmer

County Bank, Ellijay, Georgia.

B. Federal Reserve Bank of Kansas

City (John E. Yorke, Senior Vice

President) 925 Grand Avenue, Kansas

City, Missouri 64198:

1. Platte Valley Banc, Inc., Scottsbluff,

Nebraska; to become a bank holding

company by acquiring 100 percent of

the voting shares of Platte Valley

National Bank, Scottsbluff, Nebraska, a

de novo bank.

Board of Governors of the Federal Reserve

System, May 31, 1996.

William W. Wiles,

Secretary of the Board.

[FR Doc. 96–14152 Filed 6–4–96; 8:45 am]

BILLING CODE 6210–01–F

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 that engages

either directly or through a subsidiary or

other company, in a nonbanking activity

that is listed in § 225.25 of Regulation

Y (12 CFR 225.25) 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.

Once the notice 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 the proposal complies

with the standards of section 4 of the

BHC Act, including whether

consummation of the proposal 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’’

(12 U.S.C. 1843). 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.

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 June 19, 1996.

A. Federal Reserve Bank of Cleveland

(R. Chris Moore, Senior Vice President)

1455 East Sixth Street, Cleveland, Ohio

44101:

1. BancFirst Ohio Corp., Zanesville,

Ohio; to acquire County Savings Bank,

Newark, Ohio, and thereby engage in

operating a savings association,

pursuant to § 225.25(b)(9) of the Board’s

Regulation Y.

B. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. Southwest Financial Group of Iowa,

Inc., Red Oak, Iowa; to engage de novo

in making and servicing loans, pursuant

to § 225.25(b)(1) of the Board’s

Regulation Y.

Board of Governors of the Federal Reserve

System, May 30, 1996.

William W. Wiles,

Secretary of the Board.

[FR Doc. 96–14030 Filed 6–4–96; 8:45 am]

BILLING CODE 6210–01–F

Consumer Advisory Council; Notice of

Meeting of Consumer Advisory

Council

The Consumer Advisory Council will

meet on Thursday, June 27. The

meeting, which will be open to public

observation, will take place in Terrace

Room E of the Martin Building. The

meeting is expected to begin at 9:00 a.m.

and to continue until 4:00 p.m., with a

lunch break from 1:00 p.m. until 2:30

p.m. The Martin Building is located on

C Street, Northwest, between 20th and

21st Streets in Washington, D.C.

The Council’s function is to advise

the Board on the exercise of the Board’s

responsibilities under the Consumer

Credit Protection Act and on other

matters on which the Board seeks its

advice. Time permitting, the Council

will discuss the following topics:

Home Equity Lines of Credit.

Discussion led by the Consumer Credit

Committee on the Board’s upcoming

report to Congress on whether the Truth

in Lending Act cost disclosure and other

rules for home equity lines of credit

provide adequate consumer protections.

The Board’s report may include

suggestions for legislative revisions.

Community Reinvestment Act Reform.

Discussion led by the Bank Regulation

Committee on the results of the small

bank examinations conducted since the

implementation of revised CRA

regulations.

Interim Report on Streamlining

Mortgage Loan Closing Process.

Discussion led by the Community

Affairs and Housing Committee on its

efforts, jointly with the Consumer Credit

Committee, to identify and recommend

areas to streamline the mortgage closing

paperwork process.

Regulatory Coverage for Stored-Value

Cards and Electronic Banking.

Discussion led by the Depository and

Delivery Systems Committee on the

proposal by the Federal Reserve Board

to exempt many types of stored-value

cards from consumer protections

included in Regulation E.

Governor’s Report. Report by Federal

Reserve Board Member Lawrence B.

Lindsey on economic conditions, recent

Board initiatives, and issues of concern,

with an opportunity for questions from

Council members.

Members Forum. Presentation of

individual Council members’ views on

the economic conditions present within

their industries or local economies.

Committee Reports. Reports from

Council committees on their work for

1996.

Other matters previously considered

by the Council or initiated by Council

members also may be discussed.

Persons wishing to submit to the

Council their views regarding any of the

above topics may do so by sending

written statements to Deanna AdayKeller, Secretary, Consumer Advisory

Council, Division of Consumer and

Community Affairs, Board of Governors

of the Federal Reserve System,

Washington, D.C. 20551. Comments

must be of a quality suitable for

reproduction.

Information with regard to this

meeting may be obtained from Ms.

Aday-Keller, 202-452-6470.

Telecommunications Device for the Deaf

(TDD) users may contact Dorothea

Thompson, 202-452-3544.

Board of Governors of the Federal Reserve

System, May 30, 1996.

William W. Wiles,

Secretary of the Board

[FR Doc. 96–14052 Filed 6–4–96; 8:45 am]

BILLING CODE 6210–01–F