[Federal Register Volume 59, Number 164 (Thursday, August 25, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-20920]
[[Page Unknown]]
[Federal Register: August 25, 1994]
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FEDERAL RESERVE SYSTEM
Union Planters Corporation, et al. ; Formations of, Acquisitions
by, and Mergers of Bank Holding Companies; and Acquisitions of
Nonbanking Companies
The companies listed in this notice have applied under Sec. 225.14
of the Board's Regulation Y (12 CFR 225.14) for the Board's approval
under section 3 of the Bank Holding Company Act (12 U.S.C. 1842) to
become a bank holding company or to acquire voting securities of a bank
or bank holding company. The listed companies have also applied under
Sec. 225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) 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 acquire or control voting securities or assets of a
company engaged 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, or to engage in such an activity. Unless otherwise
noted, these activities will be conducted throughout the United States.
The applications are 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 each of these
applications must be received at the Reserve Bank indicated or the
offices of the Board of Governors not later than September 19, 1994.
A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice
President) 411 Locust Street, St. Louis, Missouri 63166:
1. Union Planters Corporation, Memphis, Tennessee; to acquire 100
percent of the voting shares of Grenada Sunburst System Corporation,
Grenada, Mississippi, and thereby indirectly acquire Sunburst Bank,
Grenada, Mississippi and Sunburst Bank, Baton Rouge, Louisiana.
In connection with this application, Applicant also has applied to
acquire Sunburst Financial Corporation, Inc., Grenada, Mississippi, a
wholly-owned subsidiary of Grenada Sunburst System Corporation, and
thereby engage in permissible securities brokerage activities, pursuant
to Secs. 225.25(b)(4) and (b)(15) of the Board's Regulation Y.
B.Federal Reserve Bank of Minneapolis (James M. Lyon, Vice
President) 250 Marquette Avenue, Minneapolis, Minnesota 55480:
1. Security Richland Bancorporation, Miles City, Montana; to
acquire 100 percent of the voting shares of Hansen-Lawrence Agency,
Inc., Worden, Montana, and thereby indirectly acquire Farmers State
Bank of Worden, Worden, Montana.
In connection with this application, Applicant also has applied to
retain the general insurance agency activity conducted by Hansen-
Lawrence Agency, pursuant to Exemption D of the Board's Regulation Y
(12 CFR 225.25(b)(8)(iv). The geographic areas to be served are Montana
and adjoining states.
Board of Governors of the Federal Reserve System, August 19,
1994.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 94-20920 Filed 8-24-94; 8:45 am]
BILLING CODE 6210-01-F
