[Federal Register Volume 60, Number 128 (Wednesday, July 5, 1995)]
[Notices]
[Page 35020]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-16383]
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FEDERAL RESERVE SYSTEM
First National Corporation North Dakota, et al.; Notice of
Applications to Engage de novo in Permissible Nonbanking Activities
The companies listed in this notice have filed an application under
Sec. 225.23(a)(1) of the Board's Regulation Y (12 CFR 225.23(a)(1))
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 commence or to engage de novo, either directly or
through a subsidiary, 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 the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than July 19, 1995.
A. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. First National Corporation North Dakota, Grand Forks, North
Dakota; to engage de novo in making, acquiring, or servicing loans for
its own account, pursuant to Sec. 225.25(b)(1) of the Board's
Regulation Y. These activities will be conducted throughout the states
of Minnesota and North Dakota.
2. First National Corporation North Dakota, Grand Forks, North
Dakota; to engage de novo through its subsidiary, Dakota First
Insurance Company, Grand Forks, North Dakota, in underwriting and
reinsuring the credit life coverage on loans issued by its banking
subsidiary, First National Bank North Dakota, Grand Forks, North
Dakota, pursuant to Sec. 225.25(b)(8)(i) of the Board's Regulation Y.
These activities will be conducted throughout the states of Minnesota
and North Dakota.
3. First State Banking Corporation, Alcester, South Dakota; to
engage de novo in providing data processing services for other
financial institutions, pursuant to Sec. 225.25(b)(7) of the Board's
Regulation Y. This activity will be conducted throughout the state of
South Dakota.
Board of Governors of the Federal Reserve System, June 28, 1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-16383 Filed 7-3-95; 8:45 am]
BILLING CODE 6210-01-F
