[Federal Register Volume 61, Number 177 (Wednesday, September 11, 1996)]
[Notices]
[Pages 47943-47944]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-23037]


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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 September 24, 1996.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. Peoples Heritage Financial Group, Inc., Portland, Maine; to 
acquire 100 percent of the voting shares of Family Bancorp, Haverhill, 
Massachusetts, and thereby indirectly acquire Family Bank, F.S.B., 
Haverhill, Massachusetts, pursuant to Sec.  225.25(b)(9) of the Board's 
Regulation Y. Family Bancorp, would be merged into Peoples Heritage 
Merger Corp., a newly-formed, wholly-owned subsidiary of Peoples 
Heritage Financial Group, Inc. These activities will be conducted 
throughout the state of Massachusetts.
    B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. Citizens Corporation, Franklin, Tennessee; and Harrison Group, 
Inc., Franklin, Tennessee; to acquire Financial Data Technology 
Corporation, Franklin, Tennessee, and thereby engage

[[Page 47944]]

directly in mortgage lending activities pursuant to Sec.  225.25(b)(1) 
of the Board's Regulation Y and, through Financial Data Technology 
Corporation to engage in data processing activities pursuant to Sec.  
225.25(b)(7) of the Board's Regulation Y. These activities will be 
conducted throughout the state of Tennessee.
    2. SouthTrust Corporation, Birmingham, Alabama; and SouthTrust of 
Florida, Inc., Jacksonville, Florida; to acquire Preferred Bank, a 
Federal Savings Bank, Palmetto, Florida, and thereby engage in 
operating a savings association, pursuant to Sec.  225.25(b)(9) of the 
Board's Regulation Y. These activities will be conducted throughout the 
state of Florida.
    C. Federal Reserve Bank of San Francisco (Kenneth R. Binning, 
Director, Bank Holding Company) 101 Market Street, San Francisco, 
California 94105:
    1. Fremont Bancorporation, Fremont, California; to engage de novo 
in commercial lending and loan servicing pursuant to Sec.  225.25(b)(1) 
of the Board's Regulation Y.
    2. National Bancorp of Alaska, Inc., Anchorage, Alaska; to engage 
de novo in investing in community development activities, pursuant to 
Sec.  225.25(b)(6) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, September 4, 
1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-23037 Filed 9-10-96; 8:45 am]
BILLING CODE 6210-01-F