[Federal Register Volume 60, Number 249 (Thursday, December 28, 1995)]
[Notices]
[Pages 67135-67136]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-31426]
-----------------------------------------------------------------------
FEDERAL RESERVE SYSTEM
CoreStates Financial Corp.; Formation of, Acquisition by, or
Merger of Bank Holding Companies; and Acquisition of Nonbanking Company
The company listed in this notice has 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 company also has given notice under Sec.
225.23(a)(2) of Regulation Y (12 CFR 225.23(a)(2)) for the 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 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 to
acquire the non-banking subsidiaries 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.
Comments regarding the application must be received at the Reserve
Bank indicated or the offices of the Board of Governors not later than
January 22, 1996.
A. Federal Reserve Bank of Philadelphia (Michael E. Collins, Senior
Vice President) 100 North 6th Street, Philadelphia, Pennsylvania 19105:
1. CoreStates Financial Corp., Philadelphia, Pennsylvania; to merge
with Meridian Bancorp, Inc., Reading, Pennsylvania, and thereby
indirectly acquire Meridian Bank, Reading, Pennsylvania; Delaware Trust
Company, Wilmington, Delaware; and Meridian Bank, New Jersey, Cherry
Hill, New Jersey. Applicant also has applied to acquire 24.9 percent of
the voting shares of First Commercial Bank of Philadelphia,
Philadelphia, Pennsylvania, and 6.7 percent of the voting shares of
United Bank of Philadelphia, Philadelphia, Pennsylvania.
In connection with this application, Applicant, also has applied to
acquire McGlinn Capital Management, Inc., Wyomissing, Pennsylvania, and
thereby engage in providing investment advise, pursuant to Sec.
225.25(b)(4) of the Board's Regulation Y; Meridian Acceptance
Corporation, Trenton, New Jersey, and thereby engage in lending
activities, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y;
Meridian Asset Management, Inc., Malvern, Pennsylvania, Meridian Trust
Company, Malvern, Pennsylvania, and Meridian Trust Company of
California, San Francisco, California (in dissolution), and thereby
engage in trust company activities, pursuant to Sec. 225.25(b)(3) of
the Board's Regulation Y; Meridian Investment Company, Malvern,
Pennsylvania, and thereby engage in providing investment advice,
pursuant to Sec. 225.25(b)(4) of the Board's Regulation Y; Meridian
Commercial Financial Corporation, Philadelphia, Pennsylvania, and
thereby engage in lending activities, pursuant to Sec. 225.25(b)(1) of
the Board's Regulation Y; Meridian Life Insurance Company, Phoenix,
Arizona, and thereby engage in the sale of credit-related insurance,
pursuant to Sec. 225.25(b)(8)(i) of the Board's Regulation Y; and
Meridian Securities, Inc., Reading, Pennsylvania, and thereby engage in
providing securities brokerage services and advice, pursuant to Sec.
225.25(b)(15)(i) and (ii), and underwriting and dealing in government
obligations and money market instruments, pursuant to Sec.
225.25(b)(16) of the Board's Regulation Y.
[[Page 67136]]
Board of Governors of the Federal Reserve System, December 21,
1995.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 95-31426 Filed 12-27-95; 8:45 am]
BILLING CODE 6210-01-F