[Federal Register Volume 61, Number 21 (Wednesday, January 31, 1996)]
[Notices]
[Page 3425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-1813]



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FEDERAL RESERVE SYSTEM


Community First Financial Group, Inc.; Notice of Proposal to 
Engage de novo in Permissible Nonbanking Activities

    The company listed in this notice has given notice 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.
    The notice is available for immediate inspection at the Federal 
Reserve Bank indicated. Once the notice 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 commencement of the activity 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 
February 14, 1996.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63166:
    1. Community First Financial Group, Inc., English, Indiana; to 
acquire a 9 percent equity interest in Independent Bankers Life 
Insurance Company of Indiana, Phoenix, Arizona (Company), a reinsurance 
company wholly owned by bank holding companies, and thereby to engage 
de novo in underwriting credit life, accident, and health insurance 
directly related to extensions of credit by the respective subsidiary 
banks of Company's shareholders, pursuant to Sec.  225.25(b)(8)(i) of 
the Board's Regulation Y. These activities would be conducted in the 
State of Indiana.

    Board of Governors of the Federal Reserve System, January 25, 
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-1813 Filed 1-30-96; 8:45 am]
BILLING CODE 6210-01-F