[Federal Register Volume 62, Number 245 (Monday, December 22, 1997)]
[Notices]
[Pages 66866-66867]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33333]
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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 January 16, 1998.
A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105-
1521:
1. Franklin Financial Services Corporation, Chambersburg,
Pennsylvania; to engage de novo through its subsidiary, Farmers and
Merchants Trust Company of Chambersburg, Chambersburg, Pennsylvania, in
community development activities, pursuant to Sec. 225.28(b)(12) of
the Board's Regulation Y. Comments on this application must be received
by January 6, 1998.
B. Federal Reserve Bank of Richmond (A. Linwood Gill III, Assistant
Vice President) 701 East Byrd Street, Richmond, Virginia 23261-4528:
1. BB&T Corporation and BB&T Financial Corporation of Virginia,
both of Winston-Salem, North Carolina; to acquire Life Bancorp, Inc.,
Norfolk, Virginia, and thereby indirectly acquire Life Savings Bank,
F.S.B., Norfolk, Virginia, and thereby engage in operating a savings
and loan association, pursuant to Sec. 225.28(b)(4)(ii) of the Board's
Regulation Y; engaging in real estate appraisal activities, pursuant to
Sec. 225.28(b)(2)(i) of the Board's Regulation Y; engaging in the sale
of credit related insurance, pursuant to Sec. 225.28(b)(11)(i) of the
Board's Regulation Y; and engaging in discount brokerage activities,
pursuant to Sec. 225.28(b)(7)(i) of the Board's Regulation Y.
[[Page 66867]]
Board of Governors of the Federal Reserve System, December 17,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-33333 Filed 12-19-97; 8:45 am]
BILLING CODE 6210-01-F
