[Federal Register Volume 60, Number 122 (Monday, June 26, 1995)]
[Pages 32963-32964]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-15519]



Intervest Bancshares Corporation, et al.; Notice of Applications 
to Engage de novo in Permissible Nonbanking Activities

    The companies listed in this notice have filed an application under 
Sec.  225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) 
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 commence or to engage de novo, either directly or 
through a subsidiary, in a nonbanking activity that is listed in Sec.  
225.25 of [[Page 32964]] 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 the applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than July 10, 1995.
    A. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Intervest Bancshares Corporation, New York, New York; to engage 
de novo through its subsidiary, Intervest Bancshares Corporation, New 
York, New York, in making, acquiring, participating in and/or servicing 
loans sercured by mortgages on real estate for Applicant's account or 
the account of others, pursuant to Sec.  225.25(b)(1) of of the Board's 
Regulation Y.
    B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. First Business Bancshares, Inc., Madison, Wisconsin; to engage 
de novo through its subsidiary, First Madison Capital Corp., Madison, 
Wisconsin, in commercial finance lending, pursuant to Sec.  
225.25(b)(1)(iv) of the Board's Regulation Y; and leasing of personal 
property, pursuant to Sec.  225.25(b)(5) of The Board's Regulation Y. 
The proposed activity will be conducted throughout the state of 
    2. GNB Bancorporation, Grundy Center, Iowa; to engage de novo 
through its subsidiary, GNB Financial Co., Grundy Center, Iowa, in 
leasing activities, pursuant to Sec.  225.25(b)(5) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, June 20, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-15519 Filed 6-23-95; 8:45 am]