[Federal Register Volume 63, Number 12 (Tuesday, January 20, 1998)]
[Notices]
[Page 2982]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-1268]


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FEDERAL RESERVE SYSTEM


Notice of Proposals To Engage in Permissible Nonbanking 
Activities or To Acquire Companies That Are Engaged in Permissible 
Nonbanking Activities

    The companies listed in this notice have given notice under section 
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and 
Regulation Y, (12 CFR Part 225) to engage de novo, or to acquire or 
control voting securities or assets of a company that engages either 
directly or through a subsidiary or other company, in a nonbanking 
activity that is listed in Sec.  225.28 of Regulation Y (12 CFR 225.28) 
or that the Board has determined by Order to be closely related to 
banking and permissible for bank holding companies. Unless otherwise 
noted, these activities will be conducted throughout the United States.
    Each notice is available for inspection at the Federal Reserve Bank 
indicated. The notice also will be available for inspection at the 
offices of the Board of Governors. Interested persons may express their 
views in writing on the question whether the proposal complies with the 
standards of section 4 of the BHC Act.
    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 February 3, 1998.
    A. Federal Reserve Bank of Cleveland (Jeffery Hirsch, Banking 
Supervisor) 1455 East Sixth Street, Cleveland, Ohio 44101-2566:
    1. F.N.B. Corporation, Hermitage, Pennsylvania, and F.N.B. 
Corporation to acquire shares of Pennsylvania Sun Life Insurance 
Company, Phoenix, Arizona, and thereby engage in providing credit life 
and disability insurance exclusively to customers of Sun Bank, Sun 
Bancorp, Inc.'s bank subsidiary, pursuant to Sec.  225.25(b)(8)(i) of 
the Board's Regulation Y.
    B. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. First Commercial Corporation (``FCC''), Little Rock, Arkansas; 
to acquire First Commercial Investments, Inc. (``Company''), Little 
Rock, Arkansas, and thereby engage in underwriting and dealing in, to a 
limited extent, securities (See Citicorp, 73 Fed. Res. Bull. 473 
(1987)); providing investment and financial advisory services, pursuant 
to Sec.  225.28(b)(6) of the Board's Regulation Y; providing advice and 
acting as arranger in connection with merger, acquisitions, divestiture 
and financial transactions, including public and private financings, 
loan syndications, interest rate and currency swaps, interest rate caps 
and similar transactions and/or furnishing evaluation and fairness 
opinions in connection with merger, acquisition, and similar 
transactions, pursuant to Secs.  225.28(b)(6) and (b)(7) of the Board's 
Regulation Y; providing securities brokerage services on either a 
stand-alone or full-service basis, pursuant to Sec.  225.28(b)(7)(i) of 
the Board's Regulation Y; buying and selling all types of securities on 
the order of investors as riskless principal, pursuant to Sec.  
225.28(b)(7)(ii) of the Board's Regulation Y; acting as agent for 
issuers and holders in the private placement of securities, pursuant to 
Sec.  225.28(b)(7)(iii) of the Board's Regulation Y; underwriting and 
dealing in bank eligible securities, pursuant to Sec.  225.28(b)(8) of 
the Board's Regulation Y; and providing management consulting and 
counseling services, pursuant to Sec.  225.28(b)(9) of the Board's 
Regulation Y.

    Board of Governors of the Federal Reserve System, January 14, 
1998.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 98-1268 Filed 1-16-98; 8:45 am]
BILLING CODE 6210-01-F