Banks and bank holding companies: Formations, acquisitions, and mergers,
[Federal Register: June 15, 1998 (Volume 63, Number 114)]
[Notices]
[Page 32661-32662]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15jn98-47]
FEDERAL RESERVE SYSTEM
Formations of, Acquisitions by, and Mergers of Bank Holding Companies
The companies listed in this notice have applied to the Board for approval, pursuant to the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) (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. The application also will 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. 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 14, 1998.
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Federal Reserve Bank of Chicago (Philip Jackson, Applications Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
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Banc One Corporation (``Banc One'') and Banc One Corporation (DE) (``Banc One DE'') both of Columbus, Ohio; to merge with First Chicago NBD Corporation, Chicago, Illinois (``FCNBD''), and thereby acquire all of FCNBD's subsidiary banks: American National Bank and Trust Company, Chicago, Illinois; FCC National Bank, Wilmington, Delaware; NBD Bank, Detroit, Michigan; NBD Bank, NA, Indianapolis, Indiana; First National Bank of Chicago, Chicago, Illinois; NBD
[[Page 32662]]
Bank, Venice, Florida; and NBD Bank, Elkhart, Indiana. Banc One and Banc One DE also have requested the Board's approval to hold and exercise options to purchase up to 19.9 percent of the voting shares of FCNBD, if certain events occur. Banc One and Banc One DE may form one or more intermediate bank holding companies.
In connection with the proposed transaction, Banc One and Banc One DE also have provided notice to acquire all of the nonbanking subsidiaries of FCNBD and to engage, directly or indirectly, in all of the nonbanking activities that FCNBD is currently authorized by the Board to conduct. The nonbanking activities, and the subsidiaries of FCNBD engaged in these activities, are described in the notice filedby Banc One and Banc One DE with the Board. The activities and subsidiaries include the following: extending credit and servicing loans through First Chicago Capital Corporation, Chicago, Illinois, and other subsidiaries, pursuant to Sec. 225.28(b)(1) of Regulation Y; activities related to extending credit through First Chicago NBD Real Estate Services, Inc., Indianapolis, Indiana, and other companies, pursuant to Sec. 225.28(b)(2) of Regulation Y; engaging in leasing personal or real property through FNW Capital, Inc., Mt. Prospect, Illinois, and other companies, pursuant to Sec. 225.28(b)(3) of Regulation Y; performing trust company functions through First Chicago Trust Company of New York, New York, New York, pursuant to Sec. 225.28(b)(5) of Regulation Y; providing financial and investment advisory services through First Chicago Capital Markets, Inc., Chicago, Illinois (``FCCM''), and other companies, pursuant to Sec. 225.28(b)(6) of Regulation Y; providing agency transactional services for customer investments through FCCM and other companies, pursuant to Sec. 225.28(b)(7) of Regulation Y; engaging in investment transactions as principal through FCCM and other companies, pursuant to Sec. 225.28(b)(8) of Regulation Y; engaging in insurance agency and underwriting activities through NBD Insurance Agency, Inc., Troy, Michigan, and other companies, pursuant to Sec. 225.28(b)(11) of Regulation Y; engaging in community development activities through various subsidiaries, pursuant to Sec. 225.28(b)(12) of Regulation Y; and providing data processing services through various subsidiaries, pursuant to Sec. 225.28(b)(14) of Regulation Y. In addition, Banc One and Banc One DE propose to engage in certain other activities that the Board has approved by order, including engaging through FCCM in underwriting and dealing, to a limited extent, in all types of debt and equity securities (other than ownership interests in open-end investment companies). Banc One and Banc One DE propose to engage in these activities in accordance with previous Board decisions.
Under this proposal, Banc One and Banc One DE would retain all of Banc One's subsidiary banks, including Bank One, NA, Columbus, Ohio; Bank One Trust Company, NA, Columbus, Ohio; Bank One, Arizona, NA, Phoenix, Arizona; Bank One, Colorado, NA, Denver, Colorado; Bank One, Illinois, NA, Springfield, Illinois; Bank One, Indiana, NA, Indianapolis, Indiana; Bank One, Oklahoma, NA, Oklahoma City, Oklahoma; Bank One, Louisiana, NA, Baton Rouge, Louisiana; Bank One, Kentucky, NA, Louisville, Kentucky; Bank One, Texas, NA, Dallas, Texas; Bank One, Wisconsin, Milwaukee, Wisconsin; Bank One, West Virginia, NA, Huntington, West Virginia; Bank One, Utah, NA, Salt Lake City, Utah; and Bank One, Wheeling Steubenville, NA, Wheeling, West Virginia. Pending consummation of the proposed acquisition of First Commerce Corporation, New Orleans, Louisiana (``First Commerce''), by Banc One, Banc One and Banc One DE also would retain the bank and nonbank subsidiaries of First Commerce, including First National Bank of Commerce, New Orleans; City National Bank of Baton Rouge, Baton Rouge; Rapides Bank & Trust Company in Alexandria, Alexandria; The First National Bank of Lafayette, Lafayette; The First National Bank of Lake Charles, Lake Charles; and Central Bank, Monroe, all in Louisiana.
Banc One and Banc One DE would continue to engage in all of the nonbanking activities in which Banc One is currently authorized by the Board to conduct. The nonbanking activities and the companies conducting these activities are described in the notice filedwith the Board. These subsidiaries and activities include: extending credit and servicing loans through Finance One Corporation, Columbus, Ohio, and other companies, pursuant to Sec. 225.28(b)(1) of Regulation Y; activities related to extending credit through Banc One Mortgage Capital Markets, LLC, Dallas, Texas, and other companies, pursuant to Sec. 225.28(b)(2) of Regulation Y; leasing personal or real property through BOI Leasing Corporation, Indianapolis, Indiana, and other companies, pursuant to Sec. 225.28(b)(3) of Regulation Y; operating an industrial bank through First USA Financial Services, Inc., Salt Lake City, Utah, pursuant to Sec. 225.28(b)(4)(i) of Regulation Y; performing trust company functions through Liberty Trust Company, Oklahoma City, Oklahoma, pursuant to Sec. 225.28(b)(5) of Regulation Y; providing financial and investment advisory services through Banc One Capital Markets, Inc., Columbus, Ohio (``BOCM''), and other companies, pursuant to Sec. 225.28(b)(6) of Regulation Y; engaging in agency transactional services for customer investments through BOCM and other companies, pursuant to Sec. 225.28(b)(7) of Regulation Y; engaging in investment transactions as principal through BOCM and other companies, pursuant to Sec. 225.28(b)(8) of Regulation Y; engaging insurance agency and underwriting activities through various companies, pursuant to Sec. 225.28(b)(11) of Regulation Y; engaging in community development activities through various companies, pursuant to Sec. 225.28(b)(12) of Regulation Y; engaging in data processing activities through Paymentech Merchant Services, Inc., Dallas, Texas, and other companies, pursuant to Sec. 225.28(b)(14) of Regulation Y. In addition, Banc One and Banc One (DE) propose to engage in certain other activities that the Board has approved by order, including underwriting and dealing, to a limited extent, in all types of debt and equity securities (other than ownership interests in open-end investment companies), in accordance with previous Board decisions.
Board of Governors of the Federal Reserve System, June 9, 1998. Robert deV. Frierson, Associate Secretary of the Board.
[FR Doc. 98-15776Filed6-12-98; 8:45 am]
BILLING CODE 6210-01-F
