[Federal Register Volume 59, Number 237 (Monday, December 12, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-30441]


[[Page Unknown]]

[Federal Register: December 12, 1994]


-----------------------------------------------------------------------


FEDERAL RESERVE SYSTEM
 

Synovus Financial Corp.; Formation of, Acquisition by, or Merger 
of Bank Holding Companies; and Acquisition of Nonbanking Company

    The company listed in this notice has applied under Sec.  225.14 of 
the Board's Regulation Y (12 CFR 225.14) for the Board's approval under 
section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to become a 
bank holding company or to acquire voting securities of a bank or bank 
holding company. The listed company has also applied under Sec.  
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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, or to engage in such an activity. Unless otherwise 
noted, these 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 
January 5, 1995.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Synovus Financial Corp., Columbus, Georgia; and TB&C Bancshares, 
Inc., Columbus, Georgia to merge with NBSC Corporation, Columbia, South 
Carolina, and thereby indirectly acquire The National Bank of South 
Carolina, Sumter, South Carolina.
     In connection with this application, Synovus Financial Corp., and 
TB&C Bancshares, Inc. also has applied to acquire Sumbank Life 
Insurance Company, Columbia, South Carolina, and thereby engage in 
issuing credit insurance. Specifically, Sumbank Life Insurance Company 
is engaged in the provision of reinsuring credit life, accident and 
health insurance policies, which are directly related to the extensions 
of credit and are limited to assuring the repayment of the outstanding 
balance due on the extensions of credit in the event of death, 
disability or involuntary unemployment of the debtor, pursuant to Sec.  
225.25(b)(8)(i) of the Board's Regulation Y. The proposed activity will 
be conducted in South Carolina

    Board of Governors of the Federal Reserve System, December 6, 
1994.
Barbara R. Lowrey,
Associate Secretary of the Board.
[FR Doc. 94-30441 Filed 12-9-94; 8:45 am]
BILLING CODE 6210-01-F