[Federal Register Volume 59, Number 175 (Monday, September 12, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22475]


[[Page Unknown]]

[Federal Register: September 12, 1994]


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FEDERAL RESERVE SYSTEM
 

PNC Bank Corp., 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 
October 7, 1994.
    A. Federal Reserve Bank of Cleveland (John J. Wixted, Jr., Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. PNC Bank Corp., Pittsburgh, Pennsylvania, and PNC Bancorp, Inc., 
Wilmington, Delaware; to acquire Brentwood Financial Corporation, 
Cincinnati, Ohio, and thereby indirectly acquire The Brentwood Savings 
Association, Cincinnati, Ohio, and thereby engage in permissible thrift 
activities pursuant to Sec.  225.25(b)(9) of the Board's Regulation Y.
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. CNB Bancshares, Inc., Evansville, Indiana (Applicant); to 
acquire King City Federal Savings Bank, Mount Vernon, Illinois 
(Thrift), and thereby engage in acquiring, owning, controlling and 
operating as a savings association pursuant to Sec.  225.25(b)(9) of 
the Board's Regulation Y. Applicant also has applied for Thrift or its 
wholly-owned subsidiary, King City Financial Services Corp. (KCFS), an 
Illinois corporation to (1) act as agent or broker for insurance 
(including home mortgage redemption insurance) that is directly related 
to an extension of credit by Applicant, Thrift, or any other subsidiary 
of Applicant and that is limited to assuring 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)(i) of the Board's Regulation Y; (2) act as agent 
or broker for insurance directly related to an extension of credit by a 
finance company that is a subsidiary of a bank holding company, subject 
to Sec.  225.25(b)(8)(ii) of the Board's Regulation Y; (3) provide 
securities brokerage services, related securities credit activities 
pursuant the Board's Regulations G and T, and incidental activities of 
the type enumerated in Sec.  225.25(b)(15) of the Board's Regulation Y. 
Any such activities will be restricted to buying and selling securities 
solely as agent for the account of customers and will not include 
securities underwriting or dealing; (4) provide the foregoing services 
in combination with investment advisory services permissible under 
Sec.  225.25(b)(4), subject to the limitations contained in Sec.  
225.25(b)(15)(ii); and (5) issue and sell retail money orders and 
similar consumer-type payment instruments having a face vale of not 
more than $1,000; to sell U.S. savings bonds; and the issuance and sale 
of travelers checks, pursuant to Sec.  225.25(b)(12) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, September 7, 
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-22475 Filed 9-9-94; 8:45 am]
BILLING CODE 6210-01-F