[Federal Register Volume 61, Number 21 (Wednesday, January 31, 1996)]
[Notices]
[Page 3425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-1813]
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FEDERAL RESERVE SYSTEM
Community First Financial Group, Inc.; Notice of Proposal to
Engage de novo in Permissible Nonbanking Activities
The company listed in this notice has given notice under Sec.
225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1)) for the
Board's approval under section 4(c)(8) of the Bank Holding Company Act
(12 U.S.C. 1843(c)(8)) and Sec. 225.21(a) of Regulation Y (12 CFR
225.21(a)) to commence or to engage de novo, either directly or through
a subsidiary, in a nonbanking activity that is listed in Sec. 225.25
of Regulation Y as closely related to banking and permissible for bank
holding companies. Unless otherwise noted, such activities will be
conducted throughout the United States.
The notice is available for immediate 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 commencement of the activity 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.'' 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
February 14, 1996.
A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. Community First Financial Group, Inc., English, Indiana; to
acquire a 9 percent equity interest in Independent Bankers Life
Insurance Company of Indiana, Phoenix, Arizona (Company), a reinsurance
company wholly owned by bank holding companies, and thereby to engage
de novo in underwriting credit life, accident, and health insurance
directly related to extensions of credit by the respective subsidiary
banks of Company's shareholders, pursuant to Sec. 225.25(b)(8)(i) of
the Board's Regulation Y. These activities would be conducted in the
State of Indiana.
Board of Governors of the Federal Reserve System, January 25,
1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-1813 Filed 1-30-96; 8:45 am]
BILLING CODE 6210-01-F
