[Federal Register Volume 59, Number 69 (Monday, April 11, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 93-8564]
[[Page Unknown]]
[Federal Register: April 11, 1994]
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FEDERAL RESERVE SYSTEM
Signet Banking Corporation; Acquisition of Company Engaged in
Permissible Nonbanking Activities
The organization listed in this notice has 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.
The 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
May 6, 1994.
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. Signet Banking Corporation, Richmond, Virginia; to merge with
Pioneer Financial Corporation, Chester, Virginia, and thereby
indirectly acquire Pioneer Federal Savings and Loan Bank, Chester,
Virginia, and thereby engage in operating a savings and loan
association pursuant to Sec. 225.25(b)(9) of the Board's Regulation Y.
Board of Governors of the Federal Reserve System, April 5, 1994.
Jennifer J. Johnson,
Associate Secretary of the Board.
[FR Doc. 93-8564 Filed 4-8-93; 8:45 am]
BILLING CODE 6210-01-F
