Change in Bank Control Notices; Formations of, Acquisitions by, and Mergers of Bank Holding Companies; Correction

[Federal Register Volume 61, Number 70 (Wednesday, April 10, 1996)]
[Notices]
[Pages 15945-15946]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8897]



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FEDERAL RESERVE SYSTEM

Change in Bank Control Notices; Formations of, Acquisitions by, 
and Mergers of Bank Holding Companies; Correction

    This notice corrects a notice (FR Doc. 96-6079) published on page 
10582 of the issue for Thursday, March 14, 1996.
    Under the Federal Reserve Bank of Minneapolis heading, the entry 
for BNCCORP, Inc,is revised to read as follows:
    1. BNCCORP, Inc., Bismarck, North Dakota; to acquire Cambridge Bank 
Professionals, LLC, St. Cloud, Minnesota, through a newly formed 
subsidiary, BNC Financial Corporation, St. Cloud, Minnesota, and 
thereby to engage in certain commercial finance activities pursuant to 
Section 225.25(b)(1) of the Board's Regulation Y (12 CFR Sec.  
225.25(b)(1)), and management consulting activities pursuant to Section 
225.25(b)(11) of the Board's Regulation Y (12 CFR Sec.  225.25(b)(11)). 
In connection with its commercial finance activities, BNC Financial 
Corporation may acquire debt at a discount from its stated principal 
amount, including debt that is in default at the time of acquisition. 
BNCCORP is proposing to conduct this activity pursuant to the 
limitations set forth in

[[Page 15946]]
Norwest Corporation, 81 Federal Reserve Bulletin 1128 (1995). These 
activities will take place in Minnesota, North and South Dakota, Iowa, 
and Wisconsin.
    As set out in the prior Federal Register notice, the proposed 
management consulting activities will include consulting with respect 
to credit review/loan review, pre-funding loan due diligence and 
underwriting, collateral reviews, problem loan consulting, expert 
witness/litigation support, bankruptcy support, valuation services, 
compliance process design and review, special investigations, bank buy-
sell due diligence, and CAMEL assessments.
    Comments on this application must be received by April 23, 1996.

    Board of Governors of the Federal Reserve System, April 4, 1996.
Jennifer J. Johnson,
Deputy Secretary of the Board.
[FR Doc. 96-8897 Filed 4-9-96; 8:45 am]
BILLING CODE 6210-01-F