[Federal Register Volume 61, Number 124 (Wednesday, June 26, 1996)]
[Notices]
[Pages 33118-33119]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-16264]



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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, 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 July 10, 1996.
    A. Federal Reserve Bank of New York (Christopher J. McCurdy, Senior 
Vice President) 33 Liberty Street, New York, New York 10045:
    1. Deutsche Bank AG, Frankfurt (main), Federal Republic of Germany; 
to engage de novo through its subsidiary, Deutsche Financial Capital 
Limited Liability Company, Greensboro, North Carolina, in manufactured 
housing retail financing activities, pursuant to Sec.  225.25(b)(1) of 
the Board's Regulation Y.
    B. Federal Reserve Bank of Cleveland (R. Chris Moore, Senior Vice 
President) 1455 East Sixth Street, Cleveland, Ohio 44101:
    1. KeyCorp, Cleveland, Ohio; to acquire Carleton, McCreary, Holmes 
& Co., Cleveland, Ohio, which will be merged into Key Capital Markets, 
Inc., a subsidiary that is engaged in limited securities underwriting 
and dealing activities. Notificant proposes to acquire 100 percent of 
the outstanding voting shares of the target and thereby to engage 
indirectly in providing certain investment and financial advisory 
services, pursuant to Sec.  225.25(b)(4) of the Board's Regulation Y 
and to act as agent in the private placement of all types of 
securities, pursuant to the Board's Bankers Trust and J.P. Morgan 
Orders (75 Fed. Res. Bull. 829 (1989) and 76 Fed. Res. Bull. 26 
(1990)). KeyCorp has also requested a modification of a firewall that 
prohibits officer, director, and employee interlocks between bank 
affiliates and a Section 20 subsidiary. KeyCorp previously received 
permission to establish two director interlocks and one officer 
interlock; See KeyCorp, (82 Fed. Res. Bull. 359 (1996)) and now seeks 
to add an additional interlocking director to its proposed seven member 
board of directors.
    2. Security Banc Corporation, Springfield, Ohio; to acquire Third 
Financial Corporation, Piqua, Ohio, and thereby indirectly acquire The 
Third Savings and Loan Company, Piqua, Ohio, and thereby engage 
acquiring The Third Savings and Loan Company, Piqua, Ohio, pursuant to 
Sec.  225.25(b)(9) of the Board's Regulation Y.
    3. Wesbanco, Inc., Wheeling, West Virginia; to acquire Universal 
Mortgage Company, Bridgeport, West Virginia, and thereby engage in 
acquiring the assets of and certain liabilities of Universal Mortgage 
Company, Bridgeport, West Virginia, through a recently-formed 
subsidiary, Wesbanco Mortgage Company. Wesbanco, Inc., proposes to 
acquire the target institution, and in engage permissible lending 
activities through its subsidiary, Wesbanco Mortgage Company, pursuant 
to Sec.  225.25(b)(1) of the Board's Regulation Y.
    C. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. First Southern Bancshares, Inc., Lithonia, Georgia; to acquire 
FSB Mortgage Services, Inc., Lithonia, Georgia, and thereby engage in 
mortgage lending activities, pursuant to Sec.  225.25(b)(1)(iii) of the 
Board's Regulation Y. The geographic scope for these activities is the 
State of Georgia.
    D. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Henning Bancshares, Inc., Henning, Minnesota; to engage de novo 
in making and servicing loans, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y. The geographic scope for these activities will be 
Henning, Minnesota, and surrounding communities.
    E. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 
2200 North Pearl Street, Dallas, Texas 75201-2272:
    1. Southeast Bancorp of Texas, Inc., Winnie, Texas; to acquire 
Bonnet Financial Services, Inc., Winnie, Texas, and thereby engage in 
making and servicing loans, pursuant to Sec.  225.25(b)(1) of the 
Board's Regulation Y. The geographic scope for these activities is the 
State of Texas.


[[Page 33119]]


    Board of Governors of the Federal Reserve System, June 20, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-16264 Filed 6-25-96; 8:45 am]
BILLING CODE 6210-01-F