[Federal Register Volume 62, Number 204 (Wednesday, October 22, 1997)]
[Notices]
[Pages 54850-54851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-27898]


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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

[[Page 54851]]

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. The notice also will 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 November 5, 1997.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Area Bancshares Corporation, Owensboro, Kentucky; to acquire 
Security First Network Bank, Atlanta, Georgia, and thereby indirectly 
acquire Solutions by Design, Inc. (``Solutions''), Atlanta, Georgia, 
and thereby engage in developing and providing data processing and data 
transmission services to financial institutions for use in providing 
products and services over the Internet, pursuant to Sec.  
225.28(b)(14) of the Board's Regulation Y. The acquisition will be 
accomplished through the merger of Solutions with and into Security 
First Technologies, Inc., Atlanta, Georgia, a wholly-owned subsidiary 
of Security First Network Bank.

    Board of Governors of the Federal Reserve System, October 16, 
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-27898 Filed 10-21-97; 8:45 am]
BILLING CODE 6210-01-F