[Federal Register Volume 61, Number 70 (Wednesday, April 10, 1996)]
[Notices]
[Pages 15945-15946]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8897]
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FEDERAL RESERVE SYSTEM
Change in Bank Control Notices; Formations of, Acquisitions by,
and Mergers of Bank Holding Companies; Correction
This notice corrects a notice (FR Doc. 96-6079) published on page
10582 of the issue for Thursday, March 14, 1996.
Under the Federal Reserve Bank of Minneapolis heading, the entry
for BNCCORP, Inc,is revised to read as follows:
1. BNCCORP, Inc., Bismarck, North Dakota; to acquire Cambridge Bank
Professionals, LLC, St. Cloud, Minnesota, through a newly formed
subsidiary, BNC Financial Corporation, St. Cloud, Minnesota, and
thereby to engage in certain commercial finance activities pursuant to
Section 225.25(b)(1) of the Board's Regulation Y (12 CFR Sec.
225.25(b)(1)), and management consulting activities pursuant to Section
225.25(b)(11) of the Board's Regulation Y (12 CFR Sec. 225.25(b)(11)).
In connection with its commercial finance activities, BNC Financial
Corporation may acquire debt at a discount from its stated principal
amount, including debt that is in default at the time of acquisition.
BNCCORP is proposing to conduct this activity pursuant to the
limitations set forth in
[[Page 15946]]
Norwest Corporation, 81 Federal Reserve Bulletin 1128 (1995). These
activities will take place in Minnesota, North and South Dakota, Iowa,
and Wisconsin.
As set out in the prior Federal Register notice, the proposed
management consulting activities will include consulting with respect
to credit review/loan review, pre-funding loan due diligence and
underwriting, collateral reviews, problem loan consulting, expert
witness/litigation support, bankruptcy support, valuation services,
compliance process design and review, special investigations, bank buy-
sell due diligence, and CAMEL assessments.
Comments on this application must be received by April 23, 1996.
Board of Governors of the Federal Reserve System, April 4, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-8897 Filed 4-9-96; 8:45 am]
BILLING CODE 6210-01-F
