[Federal Register Volume 60, Number 237 (Monday, December 11, 1995)]
[Notices]
[Page 63530]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-30041]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
UJB Financial Corp., 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 27, 1995.
A. Federal Reserve Bank of New York (William L. Rutledge, Senior
Vice President) 33 Liberty Street, New York, New York 10045:
1. UJB Financial Corp., Princeton, New Jersey; to acquire UJB
Commercial Corp., Hackensack, New Jersey, and thereby engage in making,
acquiring or servicing loans or other extensions of credit for the
company's account or for the account of others, such as would be made,
for example, by commercial finance or factoring companies, pursuant to
Sec. 225.25(b)(1) of the Board's Regulation Y, and to engage in the
leasing of personal property to the extent, pursuant to Sec.
225.25(b)(5) of the Board's Regulation Y.
B. Federal Reserve Bank of Chicago (James A. Bluemle, Vice
President) 230 South LaSalle Street, Chicago, Illinois 60690:
1. The Shorebank Corporation, Chicago, Illinois; to acquire the
Austin Labor Force Intermediary, Chicago, Illinois (ALFI), and thereby
consolidate ALFI with and into its subsidiary, Neighborhood Institute,
Chicago, Illinois, and thereby engage in community development
activities, pursuant to Sec. 225.25(b)(6) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, December 5,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-30041 Filed 12-8-95; 8:45 am]
BILLING CODE 6210-01-F
