[Federal Register Volume 62, Number 108 (Thursday, June 5, 1997)]
[Notices]
[Pages 30856-30857]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-14653]


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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.  225.28 of Regulation Y (12 CFR 225.28) 
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.
    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 19, 1997.
    A. Federal Reserve Bank of Chicago (Philip Jackson, Applications 
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
    1. Pinnacle Financial Services, Inc., St. Joseph, Michigan; to 
acquire and merge with Indiana Federal Corporation, Valparaiso, 
Indiana, and thereby acquire Indiana Federal Bank for Savings, 
Valparaiso, Indiana, and thereby engage in operating a savings 
association, pursuant to Sec.  225.28(b)(4)(ii) of the Board's 
Regulation Y, and IndFed Mortgage Company, Valparaiso, Indiana, and 
thereby engage in community development activities, pursuant to Sec.  
225.28(b)(12) of the Board's Regulation Y, and provide advice in 
connection with financing

[[Page 30857]]

transactions, pursuant to Sec.  225.28(b)(iii) of the Board's 
Regulation Y; IFB Investment Services, Inc., Valparaiso, Indiana, and 
thereby engage in financial and investment advisory activities, 
pursuant to Sec.  225.28(b)(6) of the Board's Regulation Y, and provide 
securities brokerage services and riskless principal transactions, 
pursuant to Sec.  225.28(b)(7) of the Board's Regulation Y; and 33.3 
percent of Forrest Holdings, Inc., and its wholly-owned subsidiary, 
Forrest Financial Corporation, both of Lisle, Illinois, and thereby 
engage in leasing, pursuant to Sec.  225.28(b)(3)(i) & (ii) of the 
Board's Regulation Y.
    2. Pinnacle Financial Services, Inc, St. Joseph, Michigan; to 
acquire and merge with CB Bancorp, Inc., Michigan, City, Indiana, and 
thereby indirectly acquire Community Bank, FSB, Michigan City, Indiana, 
and thereby engage in operating a savings association, pursuant to 
Sec.  225.28(b)(4)ii). Applicant, through a wholly-owned subsidiary of 
Community Bank, Community Financial Services, Inc., Michigan City, 
Indiana, and its subsidiary, Community Brokerage Services, Inc., 
Michigan City, Indiana, also proposes to engage in financial and 
investment advisory activities, pursuant to Sec.  225.28(b)(6)(ii), 
(iii), (iv), (v), and (vi) of the Board's Regulation Y, and provide 
securities brokerage services, pursuant to Sec.  225.28(b)(7)(i) and 
(ii) of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, May 30, 1997.
William W. Wiles,
Secretary of the Board.
[FR Doc. 97-14653 Filed 6-4-97; 8:45 am]
BILLING CODE 6210-01-F