[Federal Register Volume 60, Number 27 (Thursday, February 9, 1995)]
[Notices]
[Pages 7771-7772]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-3239]
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FEDERAL RESERVE SYSTEM
Norwest 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 23, 1995.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Norwest Corporation, Minneapolis, Minnesota; through its
subsidiary Norwest Mortgage, Inc., Des Moines, [[Page 7772]] Iowa, to
acquire the mortgage business of First National Bank of Kerrville,
Kerrville, Texas, thereby engage in mortgage lending activities
pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
2. Norwest Corporation, Minneapolis, Minnesota; through its
subsidiary Norwest Mortgage, Inc., Des Moines, Iowa, to acquire the
mortgage business of Community State Bank of Alexandria, Alexandria,
Minnesota, and thereby engage in the mortgage origination business,
pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y.
3. Norwest Corporation, Minneapolis, Minnesota; through its
subsidiary Norwest Investment Services Inc., Minneapolis, Minnesota,
proposes to acquire the brokerage services business of Texas National
Bank, Midland, Texas, also an indirect subsidiary of Norwest
Corporation, and thereby engage in full-service brokerage business,
government securities, and limited underwriting activities, pursuant to
Secs. 225.25(b)(15) and (b)(16) of the Board's Regulation Y.
4. Norwest Corporation, Minneapolis, Minnesota; through its wholly-
owned subsidiary Norwest Mortgage, Inc., Des Moines, Iowa, to acquire
the mortgage business of Goldenbank, N.A., Golden, Colorado, and
thereby engage in the mortgage business, pursuant to Sec. 225.25(b)(1)
of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, February 3,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-3239 Filed 2-8-95; 8:45 am]
BILLING CODE 6210-01-F
