63528 Federal Register / Vol. 60, No. 237 / Monday, December 11, 1995 / Notices

(Three Houses), owns the remaining 25

percent. Notificant and Three Houses

have equal voting rights in CALFP

Holding. Three Houses is controlled by

Lazard Freres & Co., LLC, New York,

New York, Lazard Freres et Cie, Paris,

France, and Lazard Brothers & Co.,

Limited, London, England.

Section 4(c)(8) of the BHC Act

provides that a bank holding company

may, with Board approval, engage in

any activity which the Board, after due

notice and opportunity for hearing, has

determined (by order or regulation) to

be so closely related to banking or

managing or controlling banks as to be

a proper incident thereto. This statutory

test requires that two separate tests be

met for an activity to be permissible for

a bank holding company. First, the

Board must determine that the activity

is, as a general matter, closely related to

banking. Second, the Board must find in

a particular case that the performance of

the activity by the applicant bank

holding company may reasonably be

expected to produce public benefits that

outweigh possible adverse effects.

Notificant maintains that the Board

previously has determined by regulation

or order that the proposed activities are

closely related to banking. See 12 CFR

225.25(b)(4), (15), (17) and (19); Security

Pacific Corporation, 74 Fed. Res. Bull.

820 (1988); J.P. Morgan & Company,

Incorporated, 80 Fed. Res. Bull. 151

(1994); Swiss Bank Corporation, 81 Fed.

Res. Bull. 185 (1995); CS Holding, 81

Fed. Res. Bull. 803 (1995); Bankers

Trust New York Corporation, 75 Fed.

Res. Bull. 829 (1989). Notificant has

stated that Company would engage in

the proposed activities in accordance

with the limitations and conditions

established by the Board in its

regulations, related interpretations, and

orders.

In order to approve the proposal, the

Board also must determine that the

proposed activities to be conducted by

Notificant ‘‘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.’’ 12 U.S.C. 1843(c)(8).

Notificant believes that the proposal

would produce public benefits that

outweigh any potential adverse effects.

In particular, Notificant maintains that

the proposal would enhance

competition in the relevant markets and

would enable Notificant to offer its

customers a broader range of services.

Notificant also maintains that its

proposal would not result in any

adverse effects in light of the

commitments it has made to the Board,

including commitments designed to

address the Board’s concerns over the

separation of a banking organization’s

activities from the activities of a coventurer. See Banque Nationale de

Paris, 80 Fed. Res. Bull. 638 (1994); The

Chuo Trust and Banking Company, 78

Fed. Res. Bull. 446 (1992).

In publishing the proposal for

comment, the Board does not take a

position on issues raised by the

proposal. Notice of the proposal is

published solely to seek the views of

interested persons on the issues

presented by the application and does

not represent a determination by the

Board that the proposal meets, or is

likely to meet, the standards of the BHC

Act. Any comments or requests for

hearing should be submitted in writing

and received by William W. Wiles,

Secretary, Board of Governors of the

Federal Reserve System, Washington,

D.C. 20551, not later than December 29,

1995. Any request for a hearing on this

application must, as required by §

262.3(e) of the Board’s Rules of

Procedure (12 CFR 262.3(e)), be

accompanied by a statement of the

reasons why 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.

This application may be inspected at

the offices of the Board of Governors or

the Federal Reserve Bank of Chicago.

Board of Governors of the Federal Reserve

System, December 5, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–30038 Filed 12–8–95; 8:45 am]

BILLING CODE 6210–01–F

First United Bancorporation, et al.;

Formations of; Acquisitions by; and

Mergers of Bank Holding Companies

The companies listed in this notice

have applied for the Board’s approval

under section 3 of the Bank Holding

Company Act (12 U.S.C. 1842) and §

225.14 of the Board’s Regulation Y (12

CFR 225.14) to become a bank holding

company or to acquire a bank or bank

holding company. The factors that are

considered in acting on the applications

are set forth in section 3(c) of the Act

(12 U.S.C. 1842(c)).

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 to the

Reserve Bank or to the offices of the

Board of Governors. Any comment on

an application that requests a hearing

must include a statement of why a

written presentation would not suffice

in lieu of a hearing, identifying

specifically any questions of fact that

are in dispute and summarizing the

evidence that would be presented at a

hearing.

Unless otherwise noted, comments

regarding each of these applications

must be received not later than January

8, 1996.

A. Federal Reserve Bank of

Richmond (Lloyd W. Bostian, Jr., Senior

Vice President) 701 East Byrd Street,

Richmond, Virginia 23261:

1. First United Bancorporation,

Anderson, South Carolina; to acquire

100 percent of the voting shares of The

Community Bank of Greenville, N.A.,

Greenville, South Carolina (in

organization).

B. Federal Reserve Bank of Atlanta

(Zane R. Kelley, Vice President) 104

Marietta Street, N.W., Atlanta, Georgia

30303:

1. Wilson Bank Holding Company,

Lebanon, Tennessee; to acquire 50

percent of the voting shares of DeKalb

Bank & Trust, Smithville, Tennessee (in

organization).

Board of Governors of the Federal Reserve

System, December 5, 1995.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 95–30039 Filed 12–8–95; 8:45 am]

BILLING CODE 6210–01–F

Rodney G. Joy, et al.; Change in Bank

Control Notices; Acquisitions of

Shares of Banks or Bank Holding

Companies

The notificants listed below have

applied under the Change in Bank

Control Act (12 U.S.C. 1817(j)) and §

225.41 of the Board’s Regulation Y (12

CFR 225.41) to acquire a bank or bank

holding company. The factors that are

considered in acting on the notices are

set forth in paragraph 7 of the Act (12

U.S.C. 1817(j)(7)).

The notices are available for

immediate inspection at the Federal

Reserve Bank indicated. Once the

notices have been accepted for

processing, they will also be available

for inspection at the offices of the Board

of Governors. Interested persons may

express their views in writing to the

Reserve Bank indicated for that notice

or to the offices of the Board of