MEDFORD SAVINGS APPROVED TO FORM HOLDING CO
<Medford Savings Bank> said it
received Federal Reserve Board approval to form a bank holding
company.
    It said the holding company, to be known as Regional
Bancorp Inc, will acquire all outstanding common shares of
Medford Savings with one share of Medford Savings being
converted into one share of Regional.
    Medford Savings said its total assets are about 408 mln
dlrs.
 Reuter
