[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