[Federal Register Volume 59, Number 160 (Friday, August 19, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20409]
[[Page Unknown]]
[Federal Register: August 19, 1994]
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FEDERAL RESERVE SYSTEM
City Holding Company, 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 September 8, 1994,
A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior
Vice President) 701 East Byrd Street, Richmond, Virginia 23261:
1. City Holding Company, Charleston, West Virginia; to engage de
novo in making, acquiring, or servicing loans or other extensions of
credit for the account of City Holding Company or for the account of
its affiliate banks, pursuant to Sec. 225.25(b)(1) the Board's
Regulation Y. The geographic area to be served is West Virginia.
B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice
President) 925 Grand Avenue, Kansas City, Missouri 64198:
1. First National Summit Bancshares, Inc., Crested Butte, Colorado;
to engage de novo through its subsidiary First Summit Mortgage Company,
Crested Butte, Colorado, and The Summit Insurance Company, Crested
Butte, Colorado, in making, acquiring, and servicing loans such as
would be made by a mortgage company, and selling insurance in a town of
less than 5,000 people, pursuant to Secs. 225.25(b)(i)(iii) and (A) of
the Board's Regulation Y.
Board of Governors of the Federal Reserve System, August 15,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-20409 Filed 8-18-94; 8:45 am]
BILLING CODE 6210-01-F
