[Federal Register Volume 59, Number 181 (Tuesday, September 20, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-23211]
[[Page Unknown]]
[Federal Register: September 20, 1994]
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FEDERAL RESERVE SYSTEM
First of America Bank Corporation, et al.; Acquisitions of
Company 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.
The 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
October 21, 1994.
A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. First of America Bank Corporation, Kalamazoo, Michigan; to
acquire 100 percent of the voting shares of Presidential Holdings
Corporation, Sarasota, Florida, and its wholly-owned subsidiary,
Presidential Bank, FSB, Sarasota, Florida, and thereby engage in
operating a savings association pursuant to Sec. 225.25(b)(9) of the
Board's Regulation Y.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. First Bank System, Minneapolis, Minnesota; to acquire
Metropolitan Financial Corporation, Minneapolis, Minnesota, and thereby
indirectly acquire Metropolitan Federal Bank FSB, Fargo, North Dakota,
and thereby engage in operating a savings association pursuant to Sec.
225.25(b)(9) of the Board's Regulation Y; MFC Insurance Corporation,
Minneapolis, Minnesota, and thereby engage in the sale of life
insurance and fixed and variable annuities pursuant to 12 U.S.C.
1843(c)(8)(G) and Sec. 225.25(b)(8)(vii) of the Board's Regulation Y,
and the sale of securities and other investment products, including
fixed and variable annuities, pursuant to Sec. 225.25(b)(15) of the
Board's Regulation Y and Norwest Corporation, 76 Federal Reserve
Bulletin 1058 (1990); Equity Title Services, Inc., Edina, Minnesota, to
thereby engage in title insurance activities pursuant to 12 U.S.C.
1843(c)(8)(G) and Sec. 225.25(b)(8)(vii) of the Board's Regulation Y
and real estate settlement and closing services pursuant to Norwest
Corporation, 76 Federal Reserve Bulletin 1058 (1990); Rocky Mountain
Management Information Services, Inc., Minneapolis, Minnesota, which
owns 10 percent of WYNEB Financial, Limited Liability Company,
Cheyenne, Wyoming to thereby engage in commercial real estate lending
activities pursuant to Sec. 225/25(b)(1) of the Board's Regulation Y;
Rocky Mountain Insurance and Investment Corporation, Minneapolis,
Minnesota to thereby engage in the sale of life insurance and fixed and
variable annuities pursuant to 12 U.S.C. 1843(c)(8)(G) and Sec.
225.25(b)(8)(vii) of the Board's Regulation Y and the sale of
securities and other investment products, including fixed and variable
annuities, pursuant to Sec. 225.25(b)(15) of the Board's Regulation Y
and Norwest Corporation, 76 Federal Reserve Bulletin 873 (1990).
C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President)
2200 North Pearl Street, Dallas, Texas 75201-2272:
1. Stratford Bancshares, Inc., Stratford, Texas and Stratford
Bancshares of Delaware, Inc., Dover, Delaware; to acquire Panhandle
Management Corporation, Dumas, Texas, and thereby indirectly acquire
94.25 percent of North Plains Savings and Loan Association, Dumas,
Texas, and thereby engage in operating a savings association pursuant
to Sec. 225.25(b)(9) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, September 14,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-23211 Filed 9-19-94; 8:45 am]
BILLING CODE 6210-01-F