[Federal Register Volume 60, Number 128 (Wednesday, July 5, 1995)]
[Notices]
[Page 35020]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-16383]



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FEDERAL RESERVE SYSTEM

First National Corporation North Dakota, 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 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 19, 1995.
    A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. First National Corporation North Dakota, Grand Forks, North 
Dakota; to engage de novo in making, acquiring, or servicing loans for 
its own account, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y. These activities will be conducted throughout the states 
of Minnesota and North Dakota.
    2. First National Corporation North Dakota, Grand Forks, North 
Dakota; to engage de novo through its subsidiary, Dakota First 
Insurance Company, Grand Forks, North Dakota, in underwriting and 
reinsuring the credit life coverage on loans issued by its banking 
subsidiary, First National Bank North Dakota, Grand Forks, North 
Dakota, pursuant to Sec.  225.25(b)(8)(i) of the Board's Regulation Y. 
These activities will be conducted throughout the states of Minnesota 
and North Dakota.
    3. First State Banking Corporation, Alcester, South Dakota; to 
engage de novo in providing data processing services for other 
financial institutions, pursuant to Sec.  225.25(b)(7) of the Board's 
Regulation Y. This activity will be conducted throughout the state of 
South Dakota.

    Board of Governors of the Federal Reserve System, June 28, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-16383 Filed 7-3-95; 8:45 am]
BILLING CODE 6210-01-F