[Federal Register Volume 60, Number 152 (Tuesday, August 8, 1995)]
[Notices]
[Page 40383]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19497]



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FEDERAL RESERVE SYSTEM

Withee Bank Shares, Inc., 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 August 22, 1995.
    A. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Withee Bank Shares, Inc., Withee, Wisconsin; proposes to form a 
community development corporation, tentatively named The Hometown 
Development Corporation, Withee, Wisconsin; and thereby engage de novo 
in community development activities, pursuant to Sec.  225.25(b)(6) of 
the Board's Regulation Y.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota; proposes to 
establish through its wholly-owned indirect subsidiary, Norwest 
Ventures, Inc., Des Moines, Iowa, a joint venture named subsidiary, 
Southeastern Residential Mortgage, Raleigh, North Carolina, and thereby 
engage de novo in residential mortgage lending business, pursuant to 
Sec.  225.25(b)(1) of the Board's Regulation Y. The joint venture 
partner is Howard Perry & Walston Realty, Inc., Raleigh, North 
Carolina.

    Board of Governors of the Federal Reserve System, August 2, 
1995.
William W. Wiles,
Secretary of the Board.
[FR Doc. 95-19497 Filed 8-7-95; 8:45 am]
BILLING CODE 6210-01-F