[Federal Register Volume 62, Number 82 (Tuesday, April 29, 1997)]
[Notices]
[Pages 23244-23245]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-11044]
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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. Once the notice 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 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 May 23, 1997.
A. Federal Reserve Bank of New York (Betsy Buttrill White, Senior
Vice President) 33 Liberty Street, New York, New York 10045-0001:
1. Summit Bancorp, Princeton, New Jersey; to acquire Collective
Bancorp, Inc., Egg Harbor, New Jersey, and thereby indirectly acquire
Collective Bank, Egg Harbor, New Jersey, and engage in operating a
federal savings bank, pursuant to Sec. 225.28(b)(4)(ii) of the Board's
Regulation Y, and alternatively to acquire, under certain
circumstances, up to 19.9 percent of the voting shares of Collective
Bancorp, Inc. Applicant also has applied to acquire Collective
Financial Services, Inc., and thereby engage in securities brokerage
and insurance agency activities in towns of less than 5,000, pursuant
to Secs. 222.28(b)(7)(1) and (b)(11)(iii) of the Board's Regulation Y.
[[Page 23245]]
Board of Governors of the Federal Reserve System, April 24,
1997.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 97-11044 Filed 4-28-97; 8:45 am]
BILLING CODE 6210-01-F
