[Federal Register Volume 59, Number 25 (Monday, February 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-2670]
[[Page Unknown]]
[Federal Register: February 7, 1994]
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FEDERAL RESERVE SYSTEM
Union Planters Corporation, 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
February 21, 1994.
A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. Union Planters Corporation, Memphis, Tennessee; to acquire
Liberty Bancshares, Inc., Paris, Tennessee, and thereby indirectly
acquire Liberty Federal Savings Bank, Paris, Tennessee, and thereby
engage in operating a federally-chartered savings bank pursuant to
Sec. 225.25(b)(9) of the Board's Regulation Y. These activities will
be conducted in the State of Tennessee. Comments on this application
must be received by March 3, 1994.
B. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; Norwest Financial
Services, Inc., Des Moines, Iowa; and Norwest Financial, Inc., Des
Moines, Iowa; to acquire certain assets and assume certain liabilities
of Allied Business Systems, Inc., Macon, Georgia, and thereby engage in
data processing activities pursuant to Sec. 225.25(b)(7) of the
Board's Regulation Y.
2. Norwest Corporation, Minneapolis, Minnesota; to acquire Double
Eagle Financial Corporation, Phoenix, Arizona, and its subsidiary,
United Title Agency of Arizona, Phoenix, Arizona, and thereby engage in
acting as agent for the title insurance company in issuing commitments
and policies of title insurance; acting as escrow agent in real estate
transactions; providing real estate settlement services; acting as
trustee in Arizona subdivision trusts and in foreclosure and account
servicing transactions, and serving as collection agent for real estate
transactions where real estate is held in trust or is purchased under a
land contract pursuant to Secs. 225.25(b)(1) and (b)(3) of the Board's
Regulation Y. These activities will be conducted in the State of
Arizona.
Board of Governors of the Federal Reserve System, February 1,
1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 94-2670 Filed 2-4-94; 8:45 am]
BILLING CODE 6210-01-F
