Formations of, Acquisitions by, and Mergers of Bank Holding Companies

[Federal Register Volume 64, Number 70 (Tuesday, April 13, 1999)]
[Notices]
[Page 18025]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-9186]


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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 May 7, 1999.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
    1. BT Financial Corporation, Johnstown, Pennsylvania; to acquire 
100 percent of the voting shares of First Philson Financial 
Corporation, Berlin, Pennsylvania, and thereby indirectly acquire First 
Philson Bank, NA, Berlin, Pennsylvania.
    B. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant 
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
    1. BB&T Corporation, Winston-Salem, North Carolina; to merge with 
First Citizens Corporation, Newnan, Georgia, and thereby indirectly 
acquire First Citizens Bank of Georgia, Fayetteville, Georgia.
    In connection with this application, Applicant also has applied to 
acquire First Citizens Bank, Newnan, Georgia, and thereby engage in 
operating and savings association, pursuant to Sec.  225.28(b)(4)(ii) 
of Regulation Y, and Newnan Financial Services, Inc., Newnan, Georgia, 
and thereby engage in providing real estate appraisal services to both 
affiliates and third parties, pursuant to Sec.  225.28(b)(2)(i) of 
Regulation Y.
    In connection with this proposal, BB&T Corporation has requested 
permission to exercise an option that would enable BB&T Corporation to 
acquire up to 19.9 percent of the voting securities of First Citizens 
Corporation under certain circumstances.

    Board of Governors of the Federal Reserve System, April 8, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-9186 Filed 4-12-99; 8:45 am]
BILLING CODE 6210-01-F