[Federal Register Volume 61, Number 181 (Tuesday, September 17, 1996)]
[Notices]
[Page 48957]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-23730]


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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 October 1, 1996.
    A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 
600 Atlantic Avenue, Boston, Massachusetts 02106:
    1. The Royal Bank of Scotland Group plc , Edinburgh, Scotland, The 
Royal Bank of Scotland plc, Edinburgh, Scotland, The Governor and 
Company of the Bank of Ireland, Dublin, Ireland, and Citizens Financial 
Group, Inc., Providence, Rhode Island; to engage de novo through their 
subsidiary, Citizens Capital, Inc., Boston, Massachusetts (tentative 
name), in commercial lending activities, pursuant to Sec.  225.25(b)(1) 
of the Board's Regulation Y.
    B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
104 Marietta Street, N.W., Atlanta, Georgia 30303:
    1. The Colonial BancGroup, Inc., Montgomery, Alabama; to acquire 
First Family Financial Corporation, Eustis, Florida, and thereby 
indirectly acquire First Family Bank, FSB, Eustis, 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 
performed throughout the State of Florida.
    C. Federal Reserve Bank of Chicago (James A. Bluemle, Vice 
President) 230 South LaSalle Street, Chicago, Illinois 60690:
    1. Brunsville Bancorporation, Inc., Brunsville, Iowa; to engage de 
novo in acting as an insurance agent and selling all types of 
insurance, pursuant to Secs.  225.25(b)(8)iii and 225.25(b)(8)vi of the 
Board's Regulation Y.
    2. Merrill Bancorporation, Inc., Merrill, Iowa; to engage de novo 
in acting as an insurance agenct and selling all types of insurance, 
pursuant to Secs.  225.25(b)(8)iii and 225.25(b)(8)vi of the Board's 
Regulation Y.
    D. Federal Reserve Bank of Minneapolis (Karen L. Grandstrand, Vice 
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
    1. Norwest Corporation, Minneapolis, Minnesota, Norwest Financial 
Services, Inc., Des Moines, Iowa, and Norwest Financial, Inc., Des 
Moines, Iowa; to engage de novo through their subsidiary, Norwest 
Financial Maine, Inc., Des Moines, Iowa, in making, acquiring, or 
servicing loans or other extensions of credit relating to consumer 
finance, sales finance, and commercial finance (including but not 
limited to accounts receivable financing, factoring, and other secured 
lending activities), pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y; in underwriting and sale of credit life insurance, 
pursuant to Secs.  225.25(b)(8)(i) and (vii) of the Board's Regulation 
Y; in the sale, on an agency basis, of credit accident and health 
insurance, credit property and casualty, and involuntary unemployment 
insurance, pursuant to Sec.  225.25(b)(8)(vii) of the Board's 
Regulation Y; in the issuance and sale at retail of money orders and 
travelers checks, pursuant to Sec.  225.25(b)(12) of the Board's 
Regulation Y; in the servicing of loans and other extensions of credit 
for other persons, pursuant to Sec.  225.25(b)(1) of the Board's 
Regulation Y; in offering and selling of bookkeeping, payroll, and 
other management reporting services and data processing services, 
pursuant to Sec.  225.25(b)(7) of the Board's Regulation Y. These 
activities will be conducted throughout the State of Maine.

    Board of Governors of the Federal Reserve System, September 11, 
1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-23730 Filed 9-16-96; 8:45 am]
BILLING CODE 6210-01-F