[Federal Register Volume 62, Number 245 (Monday, December 22, 1997)] [Notices] [Pages 66866-66867] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 97-33333] ----------------------------------------------------------------------- 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. 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 January 16, 1998. A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105- 1521: 1. Franklin Financial Services Corporation, Chambersburg, Pennsylvania; to engage de novo through its subsidiary, Farmers and Merchants Trust Company of Chambersburg, Chambersburg, Pennsylvania, in community development activities, pursuant to Sec. 225.28(b)(12) of the Board's Regulation Y. Comments on this application must be received by January 6, 1998. B. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528: 1. BB&T Corporation and BB&T Financial Corporation of Virginia, both of Winston-Salem, North Carolina; to acquire Life Bancorp, Inc., Norfolk, Virginia, and thereby indirectly acquire Life Savings Bank, F.S.B., Norfolk, Virginia, and thereby engage in operating a savings and loan association, pursuant to Sec. 225.28(b)(4)(ii) of the Board's Regulation Y; engaging in real estate appraisal activities, pursuant to Sec. 225.28(b)(2)(i) of the Board's Regulation Y; engaging in the sale of credit related insurance, pursuant to Sec. 225.28(b)(11)(i) of the Board's Regulation Y; and engaging in discount brokerage activities, pursuant to Sec. 225.28(b)(7)(i) of the Board's Regulation Y. [[Page 66867]] Board of Governors of the Federal Reserve System, December 17, 1997. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 97-33333 Filed 12-19-97; 8:45 am] BILLING CODE 6210-01-F