[Federal Register Volume 61, Number 145 (Friday, July 26, 1996)]
[Notices]
[Page 39135]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-19045]
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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. 225.25 of Regulation Y (12 CFR 225.25)
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, including 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'' (12 U.S.C. 1843). 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 the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than August 9, 1996.
A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President)
600 Atlantic Avenue, Boston, Massachusetts 02106:
1. Merrill Merchants Bancshares, Inc., Bangor, Maine; to engage de
novo through its subsidiary, M&M Consulting Limited Liability Company,
Bangor, Maine, in management consulting pursuant to Sec. 225.25(b)(11)
of the Board's Regulation Y. Such services would include loan review,
regulatory compliance and auditing. In addition, M&M Consulting would
represent an initial joint venture between Merrill Merchants
Bancshares, Inc.'s subsidiary bank, Merrill Merchants Bank, Bangor,
Maine, and MSB Leasing, a subsidiary of Machias Savings Bank, Machias,
Maine. These activities will be conducted in the state of Maine.
B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President)
104 Marietta Street, N.W., Atlanta, Georgia 30303:
1. NBN Corp., Newport, Tennessee; to engage de novo through its
subsidiary Smoky Mountain Financial Services, Inc., Jefferson City,
Tennessee in credit related insurance, pursuant to Sec.
225.25(b)(8)(ii) of the Board's Regulation Y. These activities will be
conducted throughout the state of Tennessee.
Board of Governors of the Federal Reserve System, July 22, 1996.
Jennifer J. Johnson
Deputy Secretary of the Board
[FR Doc. 96-19045 Filed 7-25-96; 8:45 am]
BILLING CODE 6210-01-F
