[Federal Register Volume 59, Number 217 (Thursday, November 10, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27874]


[[Page Unknown]]

[Federal Register: November 10, 1994]


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FEDERAL RESERVE SYSTEM
 

PAB Bankshares, 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 25, 1994.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. PAB Bankshares, Inc., Valdosta, Georgia; to acquire First 
Federal Savings Bank of Bainbridge, Brainbridge, Georgia, and thereby 
indirectly acquire First Service and Development Corporation, and 
Empire Financial Services, Inc., both of Bainbridge, Georgia, and 
thereby engage in operating a savings association, pursuant to Sec.  
225.25(b)(9) of the Board's Regulation Y, and making and servicing 
loans, pursuant to Sec.  225.25(b)(1) of the Board's Regulation Y. The 
proposed activity will be conducted throughout the state of Georgia.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Republic Bancorp, Inc., Owosso, Michigan; to acquire through its 
majority owned subsidiary, CUB Funding, Calabasas, California, a one-
third equity interest, in Premier Partners (a California Joint 
Venture), Northridge, California, and thereby engage in the nonbanking 
activity of originating, funding, and servicing residential mortgage 
loans on a retail basis, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, November 4, 
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-27874; Filed 11-9-94; 8:45 am]
BILLING CODE 6210-01-F