98-2350. Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 63, Number 20 (Friday, January 30, 1998)]
[Notices]
[Page 4642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-2350]


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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. 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 February 25, 1998.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. Magna Group, Inc., St. Louis, Missouri; to acquire Charter 
Financial, Inc. Sparta, Illinois, and thereby indirectly acquire 
Charter Bank, S.B., Sparta, Illinois, and thereby engage in the 
operation of a savings association, pursuant to Sec.  225.28(b)(4)(ii) 
of the Board's Regulation Y.

    Board of Governors of the Federal Reserve System, January 27, 
1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-2350 Filed 1-29-98; 8:45 am]
BILLING CODE 6210-01-F