95-16383. First National Corporation North Dakota, et al.; Notice of Applications to Engage de novo in Permissible Nonbanking Activities  

  • [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
    
    

Document Information

Published:
07/05/1995
Department:
Federal Reserve System
Entry Type:
Notice
Document Number:
95-16383
Pages:
35020-35020 (1 pages)
PDF File:
95-16383.pdf