[Federal Register Volume 59, Number 103 (Tuesday, May 31, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-13154]


[[Page Unknown]]

[Federal Register: May 31, 1994]


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FEDERAL RESERVE SYSTEM

 

Bellevue State Bank Employee Stock Ownership Plan, et al., 
Formations of, Acquisitions by, and Mergers of Bank Holding Companies; 
and Acquisitions of Nonbanking Companies

    The companies listed in this notice have applied under Sec. 225.14 
of the Board's Regulation Y (12 CFR 225.14) for the Board's approval 
under section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to 
become a bank holding company or to acquire voting securities of a bank 
or bank holding company. The listed companies have also applied under 
Sec. 225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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, or to engage in such an activity. Unless otherwise 
noted, these activities will be conducted throughout the United States.
    The applications are 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 or the 
offices of the Board of Governors not later than June 20, 1994.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    I. Bellevue State Bank Employee Stock Ownership Plan, Bellevue, 
Iowa; to become a bank holding company by acquiring 100 percent of the 
voting shares of Bellevue Service Company, Bellevue, Iowa, and thereby 
acquire 52.5 percent of the voting shares of Bellevue State Bank, 
Bellevue, Iowa.
    In connection with this application, Applicant also proposes to 
acquire Bellevue Insurance Agency, Bellevue, Iowa, and thereby engage 
in the sale of credit-related insurance pursuant to 
Sec. 225.26(b)(8)(i) of the Board's Regulation Y.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    I. Otto Bremer Foundation, St. Paul, Minnesota, and Bremer 
Financial Corporation, St. Paul, Minnesota; to acquire Dunn County 
Bankshares, Inc., Menomonie, Wisconsin, and thereby indirectly acquire 
Bank of Menomonie, Menomonie, Wisconsin, and Premium Finance 
Corporation, Menomonie, Wisconsin.
    In connection with this application, Applicants also propose to 
engage in extending credit for the purpose of financing payment of 
insurance policy premiums by third parties pursuant to 
Sec. 225.25(b)(1) of the Board's Regulation Y.
    In addition, Applicants propose to form a wholly-owned subsidiary, 
Menomonie Acquisition Corporation, Amery, Wisconsin, which will acquire 
97.53 percent of the voting shares of First American Bank Wisconsin, 
Amery, Wisconsin, which will then merge with Dunn County Bankshares, 
Inc., Menomonie, Wisconsin, with Dunn County Bankshares, Inc. being the 
surviving corporation.

Board of Governors of the Federal Reserve System, May 24, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-13154 Filed 5-27-94; 8:45 am]
BILLING CODE 6210-01-M