[Federal Register Volume 59, Number 229 (Wednesday, November 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29458]


[[Page Unknown]]

[Federal Register: November 30, 1994]


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FEDERAL RESERVE SYSTEM
 

Keystone Financial, 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 
December 13, 1994.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. Keystone Financial, Inc., Harrisburg, Pennsylvania; to retain 
the trust activities of its subsidiary, Frankford Trust Company, 
Philadelphia, Pennsylvania, and thereby engage directly and indirectly 
in retaining trust activities, pursuant to section 225.25(b)(3) of the 
Board's Regulation Y. The subsidiary will be renamed Keystone Trust 
Company.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; to acquire Bank of 
Montana System Great Falls, Montana, and the mortgage banking business 
of its subsidiaries Montana Bank, N.A., Billings, Montana, and Bank of 
Montana, N.A., Great Falls, Montana, and thereby engage in making loans 
and other extensions of credit as would be made by a mortgage company, 
pursuant to Sec.  225.25(b)(1) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, November 23, 
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-29458 Filed 11-29-94; 8:45 am]
BILLING CODE 6210-01-F