[Federal Register Volume 59, Number 79 (Monday, April 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-9883]


[[Page Unknown]]

[Federal Register: April 25, 1994]


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FEDERAL RESERVE SYSTEM
 

Northwest Bancorp, MHC, 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 May 
20, 1994.
    A. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. Northwest Bancorp, MHC, Warren, Pennsylvania; to acquire 
Northwest Savings Bank, Warren, Pennsylvania, and thereby indirectly 
acquire Great Northwest Corp., Warren, Pennsylvania, and thereby engage 
in community development activites pursuant to Sec.  225.25(b)(6) of 
the Board's Regulation Y; Northwest Financial Services, Inc., Warren, 
Pennsylvania, and thereby engage in community development activities 
pursuant to Sec.  225.25(b)(6) of the Board's Regulation Y and own 9.25 
percent of the voting shares of Heritage Trust Company and thereby 
engage in personal trust services pursuant to Sec.  225.25(b)(3) of the 
Board's Regulation Y; and Northwest Consumer Discount Company; 
Northwest Finance Company; Northwest Mortgage Company; and Northwest 
Capital Group/Rid-Fed, Inc., all of Warren, Pennsylvania, and thereby 
engage in permissible consumer and mortgage lending, pursuant to Sec.  
225.25(b)(1) of the Board's Regulation Y.
    B. Federal Reserve Bank of Philadelphia (Thomas K. Desch, Vice 
President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. Fulton Financial Corporation, Lancaster, Pennsylvania; to 
acquire 100 percent of the voting shares of Central Pennsylvania 
Financial Corp., Shamokin, Pennsylvania, and thereby indirectly acquire 
Central Pennsylvania Savings Association, Shamokin, Pennsylvania, and 
thereby engage in operating a savings and loan association pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, April 19, 
1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-9883 Filed 4-22-94; 8:45 am]
BILLING CODE 6210-01-F