[Federal Register Volume 59, Number 215 (Tuesday, November 8, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-27616] [[Page Unknown]] [Federal Register: November 8, 1994] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Shawmut National Corporation, et al.; Acquisitions of Companies Engaged in Permissible Nonbanking Activities The organizations listed in this notice have applied under Sec. 225.23(a)(2) or (f) of the Board's Regulation Y (12 CFR 225.23(a)(2) or (f)) 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. 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 each of these applications must be received at the Reserve Bank indicated for the application or the offices of the Board of Governors not later than November 22, 1994. A. Federal Reserve Bank of Boston (Robert M. Brady, Vice President) 600 Atlantic Avenue, Boston, Massachusetts 02106: 1. Shawmut National Corporation, Hartford, Connecticut; to acquire Northeast Federal Corp., Hartford, Connecticut, and indirectly acquire Northeast Savings, F.A., Hartford, Connecticut, and thereby engage in owning, controlling and operating a savings association that engages only in deposit-taking activities and lending and other activities, pursuant to subpart C of Sec. 225.25(b)(9) of the Board's Regulation Y. These activities will be conducted in Connecticut, Massachusetts, and upstate New York. B. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior Vice President) 701 East Byrd Street, Richmond, Virginia 23261: 1. Southern National Corporation, Lumberton, North Carolina; to acquire BB&T Financial Corporation, Wilson, North Carolina, and thereby engage in community development activities, in the form of equity investments in rental real estate projects which will qualify for the low-income housing credit under section 42 of the Internal Revenue Code of 1986, pursuant to Sec. 225.25(b)(6) of the Board's Regulation Y. C. Federal Reserve Bank of Minneapolis (James M. Lyon, Vice President) 250 Marquette Avenue, Minneapolis, Minnesota 55480: 1. Security Richland Bancorporation, Miles City, Montana; to engage in general insurance activities through the Hansen-Lawrence Agency, Inc., Worden, Montana, pursuant to Sec. 225.25(b)(8)(iv) of the Board's Regulation Y. Applicant intends to conduct the following insurance activities: commercial property and casualty insurance, surety bonds, crop and hail insurance, workmen's compensation, individual property and casualty, federal crop insurance, and life, accident, and health insurance. Board of Governors of the Federal Reserve System, November 2, 1994. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 94-27616; Filed 11-7-94; 8:45 am] BILLING CODE 6210-01-F