[Federal Register Volume 60, Number 230 (Thursday, November 30, 1995)]
[Notices]
[Page 61556]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-29277]
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FEDERAL RESERVE SYSTEM
Poca Valley Bankshares, 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
December 15, 1995.
A. Federal Reserve Bank of Richmond, (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Poca Valley Bankshares, Inc., Walton, West Virginia; to engage
de novo through its subsidiary, Poca Valley Insurance and Financial
Services Co., Inc., Walton, West Virginia, in general insurance agency
activities in a town of less than 5,000, pursuant to Sec.
225.25(b)(8)(iii)(A) of the Board's Regulation Y; and in discount
brokerage activities, pursuant to Sec. 225.25(b)(15) of the Board's
Regulation Y. These activities will be conducted throughout the towns
of Clendenin, Elkview, and Walton, West Virginia.
Board of Governors of the Federal Reserve System, November 27,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-29277 Filed 11-29-95; 8:45 am]
BILLING CODE 6210-01-F
