[Federal Register Volume 59, Number 4 (Thursday, January 6, 1994)]
[Notices]
[Page 749]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-214]


[[Page Unknown]]

[Federal Register: January 6, 1994]


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FEDERAL RESERVE SYSTEM
 

FF Bancorp, Inc., et al.; Acquisitions of Companies Engaged in 
Permissible Nonbanking Activities

    The organizations listed in this notice have applied under Sec.  
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or 
(f)) for the Board's approval 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. Unless otherwise noted, such activities 
will be conducted throughout the United States.
    Each 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 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.
    Unless otherwise noted, comments regarding each of these 
applications must be received at the Reserve Bank indicated for the 
application or the offices of the Board of Governors not later than 
January 20, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. FF Bancorp, Inc., New Smyrna Beach, Florida; to become a bank 
holding company by acquiring Key Bancshares, Inc., Tampa, Florida, and 
thereby indirectly acquire The Key Bank of Florida, Tampa, Florida.
    Applicants proposes to retain its thrift subsidiaries, 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 thrift subsidiary pursuant to Sec.  
225.25(b)(9) of the Board's Regulation Y. Applicant also proposes to 
retain Smyrna Thrift's subsidiary, Florida Agency, and Inverness 
Thrift's subsidiary, Home Assets, and thereby engage in discount 
brokerage activities pursuant to Sec.  225.25(b)(15) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, December 30, 
1993.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-214 Filed 1-5-94; 8:45 am]
BILLING CODE 6210-01-F