95-19209. Sun Bancorp, Inc., et al.; Notice of Applications to Engage de novo in Permissible Nonbanking Activities  

  • [Federal Register Volume 60, Number 150 (Friday, August 4, 1995)]
    [Notices]
    [Page 39958]
    From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
    [FR Doc No: 95-19209]
    
    
    
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    FEDERAL RESERVE SYSTEM
    
    Sun Bancorp, Inc., 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 August 18, 1995.
        A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior 
    Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
        1. Sun Bancorp, Inc., Selinsgrove, Pennsylvania; to engage de novo 
    through Mifflin Associates, Mifflinburg, Pennsylvania, in community 
    development activities through its investment in Mifflin Associates, 
    pursuant to Sec.  225.25(b)(6) of the Board's Regulation Y.
        B. Federal Reserve Bank of Atlanta (Zane R. Kelley, Vice President) 
    104 Marietta Street, N.W., Atlanta, Georgia 30303:
        1. SunTrust Banks, Inc., and Trust Company of Georgia, both of 
    Atlanta, Georgia; to engage de novo through Personal Express Loans, 
    Inc., Atlanta, Georgia, in making, acquiring, or servicing loans or 
    other extensions of credit, pursuant to Sec.  225.25(b)(1)(i) of the 
    Board's Regulation Y.
    
        Board of Governors of the Federal Reserve System, July 31, 1995.
    William W. Wiles,
    Secretary of the Board.
    [FR Doc. 95-19209 Filed 8-3-95; 8:45 am]
    BILLING CODE 6210-01-F
    
    

Document Information

Published:
08/04/1995
Department:
Federal Reserve System
Entry Type:
Notice
Document Number:
95-19209
Pages:
39958-39958 (1 pages)
PDF File:
95-19209.pdf