[Federal Register Volume 59, Number 64 (Monday, April 4, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-7947]


[[Page Unknown]]

[Federal Register: April 4, 1994]


-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM
 

Pickens County Bancshares, 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 April 25, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Pickens County Bancshares, Inc., Reform, Alabama, to retain 
WAB&T Financial Services, Inc., Reform, Alabama, and thereby engage in 
insurance agency and securities brokerage activities pursuant to Secs.  
225.25(b)(8)(iii)(A) and (b)(15) of the Board's Regulation Y.
    A. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Summit Bancshares, Inc., Fort Worth, Texas, to engage de novo 
through its subsidiary Fort Worth Community Development Corporation, 
Fort Worth, Texas, in community development activities making, for 
their own account, equity and debt investment in companies or projects 
designed primarily to promote community welfare pursuant to Sec.  
225.25(b)(6) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, March 29, 
1994.
William W. Wiles
Secretary of the Board.
[FR Doc. 94-7947 Filed 4-1-94; 8:45 am]
BILLING CODE 6210-01-F