[Federal Register Volume 59, Number 35 (Tuesday, February 22, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-3844]
[[Page Unknown]]
[Federal Register: February 22, 1994]
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FEDERAL RESERVE SYSTEM
Ambank Company, Inc., et al.; Notice of Applications to Engage de
novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1))
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 commence or to engage de novo, either directly or
through a subsidiary, 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 the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than March 14, 1994.
A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. Ambank Company, Inc., Sioux Center, Iowa; to engage de novo
through its subsidiary, Northwest Appraisal Services, Sioux Center,
Iowa, in performing real estate appraisal services pursuant to Sec.
225.25(b)(13) of the Board's Regulation Y.
2. First Midwest Corporation of Delaware, Melrose Park, Illinois;
to engage de novo through its subsidiary, Midwest Trust Services, Inc.,
Elmwood Park, Illinois, in accepting and executing trusts and carrying
on a general trust company business pursuant to Sec. 225.25(b)(3) of
the Board's Regulation Y. These activities are intended to serve the
Chicago metropolitan area including Cook, Lake, Will, DuPage and
McHenry Counties.
B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. Cass Commercial Corporation, St. Louis, Missouri; to engage de
novo through its subsidiary, Cass Logistics, Inc., Bridgeton, Missouri,
in acquiring, holding, and disposing of loans or other extensions of
credit extended by Cass Commercial Corporation's subsidiary bank, Cass
Bank & Trust Company, St. Louis, Missouri, and providing necessary
servicing activities in connection therewith pursuant to Sec.
225.25(b)(1) of the Board's Regulation Y.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Wabasha Holding Company, Wabasha, Minnesota; to engage de novo
in the purchase of participations in loans and/or loan pools
collateralized with leases pursuant to Sec. 225.25(b)(1) of the
Board's Regulation Y.
C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. First Community Bancshares, Inc., Winnfield, Louisiana; engage
de novo in acting as principal, agent, or broker for insurance that is
directly related to an extension of credit by the bank holding company
or any of its subsidiaries and limited to ensuring the repayment of the
outstanding balance due on the extension of credit in the event of
death, disability, or involuntary unemployment of the debtor pursuant
to Sec. 225.25(b)(8) of the Board's Regulation Y. These activities
will be conducted in the State of Louisiana.
2. Winn Bancshares, Inc., Winnfield, Louisiana; to engage de novo
in acting as principal, agent, or broker for insurance that is directly
related to an extension of credit by the bank holding company or any of
its subsidiaries and limited to ensuring the repayment of the
outstanding balance due on the extension of credit in the event of
death, disability, or involuntary unemployment of the debtor pursuant
to Sec. 225.25(b)(8) of the Board's Regulation Y. These activities
will be conducted in the State of Louisiana.
Board of Governors of the Federal Reserve System, February 15,
1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-3844 Filed 2-18-94; 8:45 am]
BILLING CODE 6210-01-F