[Federal Register Volume 61, Number 105 (Thursday, May 30, 1996)]
[Notices]
[Pages 27077-27078]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-13507]



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FEDERAL RESERVE SYSTEM

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

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation      Y, (12 CFR part 225) to engage de novo,

[[Page 27078]]

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.
    Each 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. 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 applications must be 
received at the Reserve Bank indicated or the offices of the Board of 
Governors not later than June 12, 1996.
    A. Federal Reserve Bank of Cleveland (R. Chris Moore, Senior Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. First Southern Bancorp, Inc., Stanford, Kentucky; to acquire 
Lincoln Financial Bancorp, Inc., Stanford, Kentucky, and thereby 
indirectly acquire Lincoln Federal Savings Bank, Stanford, Kentucky, 
and thereby engage in acquiring and operating a savings association, 
pursuant to Sec.  225.25(b)(9) of the Board's Regulation Y.
    B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Eau Claire Financial Services, Inc., St. Paul, Minnesota; to 
acquire Lake City Agency, Inc., Lake City, Minnesota, and thereby 
engage in operating an insurance agency in the town of Lake City, 
Minnesota, a community with a population of less than 5,000, pursuant 
to Sec.  225.25(b)(8)(iii)(A) of the Board's Regulation Y. The proposed 
activity will be conducted throughout Lake City, Minnesota.
    C. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice 
President) 925 Grand Avenue, Kansas City, Missouri 64198:
    1. Orchard Valley Financial Corporation, Hotchkiss, Colorado; to 
engage de novo in making consumer finance loans, real estate 
construction loans and real estate development loans, pursuant to Secs.  
225.25(b)(1)(i), (iii), and (iv) of the Board's Regulation Y.
    D. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Santa Barbara Bancorp, , Santa Barbara, California; to engage de 
novo in community development activities, pursuant to Sec.  
225.25(b)(6) of the Board's Regulation Y by offering job training to 
low and moderate income persons in computer software skills.

    Board of Governors of the Federal Reserve System, May 23, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-13507 Filed 5-29-96; 8:45 am]
BILLING CODE 6210-01-F