[Federal Register Volume 59, Number 201 (Wednesday, October 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-25860]


[[Page Unknown]]

[Federal Register: October 19, 1994]


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FEDERAL RESERVE SYSTEM
 

Chadwick Bancshares, Inc., 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 
November 13, 1994.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Chadwick Bancshares, Inc., Chadwick, Illinois; to acquire 
Community Insurance, Inc., Miles, Iowa; and thereby engage directly or 
indirectly in certain nonbanking activities, to acquire assets of a 
going concern, or to acquire direct or indirect ownership, control or 
power to vote at least 80 percent of the voting shares of Community 
Insurance, Inc., Miles, Iowa (CII). Applicant through CII, proposes to 
engage in insurance agency activities regarding life and health 
insurance (including nursing home long-term care insurance), annuities, 
and credit life insurance, pursuant to Sec.  225.25(8)(i),(iii) of the 
Board's Regulation Y. These activities will be conducted in Miles, 
Iowa.
    2. Northwest Financial Corp., Spencer, Iowa; to acquire James 
Mortgage Corporation, Des Moines, Iowa, and thereby indirectly engage 
in the activity of originating and selling conventional, FHA, and VA 
residential mortgages, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y. Comments on this application must be received by October 
31, 1994.
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Boatmen's Bancshares, Inc., St. Louis, Missouri; to acquire 
National Mortgage Company, Memphis, Tennessee; B-M Homes, Inc., 
Memphis, Tennessee; Macon Homes, Inc., Memphis, Tennessee; Marbel 
Homes, Inc., Memphis, Tennessee; Margolin Bros., Appliance Co., 
Memphis, Tennessee; Margolin Bros. Realty Co., Memphis, Tennessee; 
National Builders, Inc., Memphis, Tennessee; Arkansas Home Loan 
Company, Memphis, Tennessee; and National Home Loan Company, Inc., 
Memphis, Tennessee, and thereby engage in making, acquiring or 
servicing loans or other extension of credit, pursuant to Sec.  
225.25(b)(1) of the Board's Regulation Y; acting as agent or broker for 
insurance (including home mortgage redemption insurance that is 
directly related to an extension of credit made by Applicant, and 
companies, and that is limited to assuring the repayment of the 
outstanding balance due on the extension of credit in the event of 
death, disability of involuntary unemployment of the debtor, pursuant 
to Sec.  225.25(b)(8)(i) of the Board's Regulation Y; and acting as 
investment or financial advisor, and to perform appraisals of real 
estate and tangible and intangible personal property, including 
securities, pursuant to Secs.  225.25(b)(4) and (b)(13) of the Board's 
Regulation Y.

Board of Governors of the Federal Reserve System, October 13, 1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-25860 Filed 10-18-94; 8:45 am]
BILLING CODE 6210-01-F