[Federal Register Volume 59, Number 229 (Wednesday, November 30, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-29458]
[[Page Unknown]]
[Federal Register: November 30, 1994]
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FEDERAL RESERVE SYSTEM
Keystone Financial, Inc., et al.; Acquisitions of Companies
Engaged in Permissible Nonbanking Activities
The organizations listed in this notice have applied under Sec.
225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or
(f)) 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 acquire or control voting securities or assets of
a company engaged 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.
Each application is available for immediate inspection at the
Federal Reserve Bank indicated. Once the application 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 consummation of the proposal 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.
Unless otherwise noted, comments regarding each of these
applications must be received at the Reserve Bank indicated for the
application or the offices of the Board of Governors not later than
December 13, 1994.
A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
1. Keystone Financial, Inc., Harrisburg, Pennsylvania; to retain
the trust activities of its subsidiary, Frankford Trust Company,
Philadelphia, Pennsylvania, and thereby engage directly and indirectly
in retaining trust activities, pursuant to section 225.25(b)(3) of the
Board's Regulation Y. The subsidiary will be renamed Keystone Trust
Company.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; to acquire Bank of
Montana System Great Falls, Montana, and the mortgage banking business
of its subsidiaries Montana Bank, N.A., Billings, Montana, and Bank of
Montana, N.A., Great Falls, Montana, and thereby engage in making loans
and other extensions of credit as would be made by a mortgage company,
pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, November 23,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-29458 Filed 11-29-94; 8:45 am]
BILLING CODE 6210-01-F
