Notice of Proposals to Engage in Permissible Nonbanking Activities or to Acquire Companies that are Engaged in Permissible Nonbanking Activities

[Federal Register Volume 63, Number 224 (Friday, November 20, 1998)]
[Notices]
[Pages 64511-64512]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-31020]


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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, including the 
companies listed below, that engages either directly or through a 
subsidiary or

[[Page 64512]]

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 December 4, 1998.
    A. Federal Reserve Bank of St. Louis (Randall C. Sumner, Vice 
President) 411 Locust Street, St. Louis, Missouri 63102-2034:
    1. German American Bancorp, Jasper, Indiana; to acquire 1st 
Bancorp, Vincennes, Indiana, and thereby indirectly acquire First 
Federal Bank, a Federal Savings Bank, Vincennes, Indiana, and thereby 
engage in the operation of a thrift, pursuant to Sec.  225.28(b)(4)(ii) 
of Regulation Y; and Financial Services of Southern indiana Corp;, 
Vincennes, Indiana, and thereby engage in community development 
activities through making equity and debt investments in corporations 
or projects designed to promote community welfare, pursuant to Sec.  
225.28(b)(12)(i) of Regulation Y.
    B. Federal Reserve Bank of San Francisco (Maria Villanueva, Manager 
of Analytical Support, Consumer Regulation Group) 101 Market Street, 
San Francisco, California 94105-1579:
    1. Wells Fargo & Company, San Francisco, California; Norwest 
Mortgage, Inc., Des Moines, Iowa; and Norwest Ventures, LLC, Des 
Moines, Iowa; to engage de novo in a joint venture through their 
subsidiary, Service Mortgage Group, LLC, Louisville, Kentucky, in 
residential mortgage lending, pursuant to Sec.  225.28(b)(1) of 
Regulation Y.
    2. Wells Fargo & Company, San Francisco, California; Norwest 
Mortgage, Inc., Des Moines, Iowa; and Norwest Ventures, LLC, Des 
Moines, Iowa; to engage de novo in a joint venture through their 
subsidiary, Academy Financial Services, LLC, Alpharetta, Georgia, in 
residential mortgage lending, pursuant to Sec.  225.28(b)(1) of 
Regulation Y.

    Board of Governors of the Federal Reserve System, November 16, 
1998.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 98-31020 Filed 11-9-8; 8:45 am]
BILLING CODE 6210-1-F