[Federal Register Volume 59, Number 25 (Monday, February 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2670]


[[Page Unknown]]

[Federal Register: February 7, 1994]


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FEDERAL RESERVE SYSTEM
 

Union Planters Corporation, 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 
February 21, 1994.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Union Planters Corporation, Memphis, Tennessee; to acquire 
Liberty Bancshares, Inc., Paris, Tennessee, and thereby indirectly 
acquire Liberty Federal Savings Bank, Paris, Tennessee, and thereby 
engage in operating a federally-chartered savings bank pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y. These activities will 
be conducted in the State of Tennessee. Comments on this application 
must be received by March 3, 1994.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; Norwest Financial 
Services, Inc., Des Moines, Iowa; and Norwest Financial, Inc., Des 
Moines, Iowa; to acquire certain assets and assume certain liabilities 
of Allied Business Systems, Inc., Macon, Georgia, and thereby engage in 
data processing activities pursuant to Sec.  225.25(b)(7) of the 
Board's Regulation Y.
    2. Norwest Corporation, Minneapolis, Minnesota; to acquire Double 
Eagle Financial Corporation, Phoenix, Arizona, and its subsidiary, 
United Title Agency of Arizona, Phoenix, Arizona, and thereby engage in 
acting as agent for the title insurance company in issuing commitments 
and policies of title insurance; acting as escrow agent in real estate 
transactions; providing real estate settlement services; acting as 
trustee in Arizona subdivision trusts and in foreclosure and account 
servicing transactions, and serving as collection agent for real estate 
transactions where real estate is held in trust or is purchased under a 
land contract pursuant to Secs.  225.25(b)(1) and (b)(3) of the Board's 
Regulation Y. These activities will be conducted in the State of 
Arizona.

    Board of Governors of the Federal Reserve System, February 1, 
1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-2670 Filed 2-4-94; 8:45 am]
BILLING CODE 6210-01-F