[Federal Register Volume 61, Number 47 (Friday, March 8, 1996)]
[Notices]
[Page 9460]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-5578]



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FEDERAL RESERVE SYSTEM

Notice of Proposal to Engage in Permissible Nonbanking Activities 
or to Acquire Companies that are Engaged in Permissible Nonbanking 
Activities

    The company listed in this notice has given notice under section 4 
of the Bank Holding Company Act (12 U.S.C. Sec.  1843) (BHC Act) and 
Regulation      Y, (12 CFR Part 225) to commence or to engage de novo, 
or to acquire or control voting securities or assets of a company that 
engages either directly or through a subsidiary or other company, in a 
nonbanking activity that is listed in Sec.  225.25 of Regulation Y (12 
CFR 225.25) or that the Board has determined by Order to be closely 
related to banking and permissible for bank holding companies. Unless 
otherwise noted, these activities will be conducted throughout the 
United States.
    The notice is available for 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 the proposal complies with the standards of section 4 
of the BHC Act, including 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'' (12 U.S.C. Sec.  1843). 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 application must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than March 18, 1996.
    A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
    1. United Valley Bancorp, Inc., Philadelphia, Pennsylvania; to 
acquire at least 50 percent of the voting shares of Eagle Valley 
Financial Services, Inc., Philadelphia, Pennsylvania, and thereby to 
engage in mortgage banking activities, pursuant to Sec.  225.25(b)(1) 
of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, March 5, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-5578 Filed 3-7-96; 8:45 am]
BILLING CODE 6210-01-F