31942 Federal Register / Vol. 61, No. 121 / Friday, June 21, 1996 / Notices

(BHC Act), Regulation Y (12 CFR part

225), and all other applicable statutes

and regulations to become a bank

holding company and/or to acquire the

assets or the ownership of, control of, or

the power to vote shares of a bank or

bank holding company and all of the

banks and nonbanking companies

owned by the bank holding company,

including the companies listed below.

The applications listed below, as well

as other related filings required by the

Board, are 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 standards enumerated in

the BHC Act (12 U.S.C. 1842(c)). If the

proposal also involves the acquisition of

a nonbanking company, the review also

includes whether the acquisition of the

nonbanking company complies with the

standards in section 4 of the BHC Act,

including whether the acquisition of the

nonbanking company 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). Any request for

a hearing 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, nonbanking

activities will be conducted throughout

the United States.

Unless otherwise noted, comments

regarding each of these applications

must be received at the Reserve Bank

indicated or the offices of the Board of

Governors not later than July 15, 1996.

A. Federal Reserve Bank of Cleveland

(R. Chris Moore, Senior Vice President)

1455 East Sixth Street, Cleveland, Ohio

44101:

1. Westwood Homestead Financial

Corporation, Cincinnati, Ohio; to

become a bank holding company by

acquiring 100 percent of the voting

shares of The Westwood Homestead

Savings Bank, Cincinnati, Ohio.

B. Federal Reserve Bank of Chicago

(James A. Bluemle, Vice President) 230

South LaSalle Street, Chicago, Illinois

60690:

1. First Merchants Corporation,

Muncie, Indiana; to merge with

Randolph County Bancorp, Winchester,

Indiana, and thereby indirectly acquire

Randolph County Bank, Winchester,

Indiana.

2. Fortress Bancshares, Inc., Cresco,

Iowa; to become a bank holding

company by acquiring 100 percent of

the voting shares of Fortress Holdings,

Inc., Hartland, Wisconsin (currently

known as Fortress Bancshares, Inc.), and

thereby indirectly acquire Houston

Security Bank, Houston, Minnesota, and

Westby-Coon Valley State Bank,

Westby, Wisconsin.

Board of Governors of the Federal Reserve

System, June 17, 1996.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 96–15849 Filed 6–20–96; 8:45 am]

BILLING CODE 6210–01–F

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 § 225.25 of Regulation

Y (12 CFR 225.25) 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.

Once the notice 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 the proposal complies

with the standards of section 4 of the

BHC Act, including 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’’

(12 U.S.C. 1843). 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

A. Federal Reserve Bank of New

York (Christopher J. McCurdy, Senior

Vice President) 33 Liberty Street, New

York, New York 10045:

1. CNB Financial Corp., Canajoharie,

New York; to engage de novo through its

subsidiary, Central Asset Management,

Inc., Canajoharie, New York, in

providing investment advisory services,

pursuant to § 225.25(b)(4) of the Board’s

Regulation Y, and in discretionary

investment management services to

institutional and non-institutional

investors; See Corestates Financial

Corporation 80 Fed. Res. Bull. 644

(1994)).

B. Federal Reserve Bank of St. Louis

(Randall C. Sumner, Vice President) 411

Locust Street, St. Louis, Missouri 63166:

1. Old National Bancorp, Evansville,

Indiana; to acquire Workingmens

Capital Holdings, Inc., Bloomington,

Indiana, and thereby indirectly acquire

Workingmens Federal Savings Bank,

Bloomington, Indiana, and thereby

engage in owning, controlling, and

operating a savings association,

pursuant to § 225.25(b)(9) of the Board’s

Regulation Y.Workmens Capital

Holdings, Inc., would be merged into

the notificant, and a merger of

Workingmens Federal Savings Bank,

would be merged into an existing

subsidiary of the notificant.

Board of Governors of the Federal Reserve

System, June 17, 1996.

Jennifer J. Johnson,

Deputy Secretary of the Board.

[FR Doc. 96–15845 Filed 6–20–96; 8:45 am]

BILLING CODE 6210–01–F

Notice to Engage in Nonbanking

Activities

Waterhouse Investor Services, Inc.,

New York, New York (‘‘Notificant’’), has

given notice pursuant to section 4(c)(8)

of the Bank Holding Company Act (12

U.S.C. 1843(c)(8)) (‘‘BHC Act’’) and §

225.23(a)(3) of the Board’s Regulation Y

(12 CFR 225.23(a)(3)), to engage de novo

through its subsidiary Waterhouse

Securities, Inc., New York, New York

(‘‘Company’’), in the purchase and sale

of all types of securities on the order of

customers as riskless principal.