[Federal Register Volume 61, Number 41 (Thursday, February 29, 1996)] [Notices] [Pages 7792-7793] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 96-4591] ----------------------------------------------------------------------- FEDERAL RESERVE SYSTEM Wachovia Corporation, 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 March 15, 1996. A. Federal Reserve Bank of Richmond (Lloyd W. Bostian, Jr., Senior Vice President) 701 East Byrd Street, Richmond, Virginia 23261: 1. Wachovia Corporation, Winston-Salem, North Carolina, and Wachovia Capital Markets, Inc., Atlanta, Georgia; to engage de novo through its subsidiary, Wachovia Capital Partners, Inc., Atlanta, Georgia, in providing tax planning and preparation services, pursuant to Sec. 225.25(b)(21) of the Board's Regulation Y. B. Federal Reserve Bank of Kansas City (John E. Yorke, Senior Vice [[Page 7793]] President) 925 Grand Avenue, Kansas City, Missouri 64198: 1. Greater Metro Bank Holding Company, Aurora, Colorado; to engage de novo through its subsidiary, Greater Metro Insurance and Consulting Services, Inc., Aurora, Colorado, in the activity of providing management consulting services to depository institutions, pursuant to Sec. 225.25(b)(11) of the Board's Regulation Y. 2. Labette County Bankshares, Inc., Altamont, Kansas; to engage de novo through its subsidiary, Kansas Credit, Inc., Altamont, Kansas, in establishing a consumer finance company, pursuant to Sec. 225.25(b)(1) of the Board's Regulation Y. C. Federal Reserve Bank of Dallas (Genie D. Short, Vice President) 2200 North Pearl Street, Dallas, Texas 75201-2272: 1. South Plains Financial, Inc., Lubbock, Texas, and South Plains Delaware Financial Corporation, Dover, Delaware; to engage de novo through their subsidiary, South Plains Financial Services, Inc., Lubbock, Texas, in providing to others, data processing and data transmission services, facilities (including data processing and data transmission hardware, software, documentation or operating personnel), data bases, or access to such services, facilities, or data bases by any technological means pursuant to written agreements describing and limiting the services to the processing or furnishing of financial, banking, or economic data within the scope allowed by applicable statutes and regulations, including, processing and transmitting banking, financial, and economic related data for others through; timesharing; electronic funds transfer; home banking; authentication; provision of packaged financial systems to depository or other institutions to perform traditional banking functions such as data capture and sorting, balancing and statement printing; and back office services such as statement rendering, proof operations, research, filming, NSF's, data input and return items; selling excess capacity on data processing and transmission facilities; providing by-products of permissible data processing and data transmission services for the internal operations of South Plains Financial, Inc., and its subsidiaries, pursuant to Sec. 225.25(b)(7) of the Board's Regulation Y, and in performing appraisals of real estate and tangible and intangible personal property, including securities, pursuant to Sec. 225.25(b)(13) of the Board's Regulation Y. The activities will be conducted thoughout the state of Texas. Board of Governors of the Federal Reserve System, February 23, 1996. Jennifer J. Johnson, Deputy Secretary of the Board. [FR Doc. 96-4591 Filed 2-28-96; 8:45 am] BILLING CODE 6210-01-F