The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1984 No. 15 Actions of the Board; Applications and Reports Received During the Week Ending April 14, 1984 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Statement by Chairman Paul A. Volcker before the Sub committee on Trade of the House Committee on Ways and Means concerning issues surrounding our large and growing trade and current account deficits. Statement by Gerald E. Corrigan, President of the Federal Reserve Bank of Minneapolis, before the Senate Committee on Banking, Housing and Urban Affairs on the past three years of priced services activities of the Federal Reserve Banks. The Federal Reserve issued a report summarizing developments in the priced services areas for 1983 and providing detailed financial results of those services as called for in the Monetary Control Act. New York South Norwalk Savings Bank, Norwalk, Connecticut, appli cation to merge with Citizens Savings Bank of Stamford, Stamford, Connecticut; report to the Federal Deposit Insurance Corporation on competitive factors. ]_/ Richmond Palmetto State Bank, Hampton, South Carolina, proposed purchase of assets and assumption of liabilities of the Port Republic and Burton branches in Beaufort, South Carolina, of The South Carolina National Bank, Charleston; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Richmond First American Bank of Virginia, McLean, Virginia, proposed merger with The Round Hill National Bank, Round Hill, Virginia; report to the Federal Deposit Insurance Corporation on competitive factors. ]_/ Richmond Matewan National Bank, Matewan, West Virginia, proposed merger with Matewan Bank, National Association, Matewan, West Virginia, a proposed new bank; report to the Comptroller of the Currency on competitive factors. _1/ TJ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 2 - ACTIONS OF THE BOARD - Continued Richmond St. Michaels Bank, St. Michaels, Maryland, to invest in bank premises. J_/ Richmond Farmers & Merchants Bank, Granite Quarry, North Carolina, proposed merger with New F & M Bank, Granite Quarry, North Carolina, a proposed new bank; report to the Federal Deposit Insurance Corporation on competitive factors. 1J Atlanta Bank of Florida in St. Petersburg, St. Petersburg, Florida, to invest in bank premises. 1_/ Atlanta Bank of Simpson County, MaGee, Mississippi, proposed merger with Copiah County branches of Mississippi; report to the Federal Deposit Insurance Corporation on competitive factors. \j Atlanta Tri-City Bank and Trust Company, Blountsville, Tennessee, proposed merger with United Security Bank, Mt. Carmel, Tennessee; report to the Federal Deposit Insurance Corporation on competitive factors. \ j Atlanta Citizens Independent Bancorp, Huntsville, Alabama, extension of time until July 17, 1984, within which to become a bank holding through acquisition of Citizens Independent Bank, Huntsville, Alabama, a proposed new bank. \J Atlanta Zachary Bancshares, Inc., Zachary, Louisiana, extension of time until July 3, 1984, within which to become a bank holding company through the acquisition of Bank of Zachary, Zachary, Louisiana. Jj_/ Atlanta Bank South, N.A., Atlanta, Georgia, proposed merger with Bank of Cumming, Cumming, Georgia, and Bank South, Clayton, Forest Park, Georgia; report to the Comptroller of the Currency on competitive factors. ]_/ Atlanta First Trust and Savings Bank, Oneida, Tennessee, proposed merger with Oneida Bank and Trust Company, Oneida, Tennessee; report to the Federal Deposit Insurance Corporation on competitive factors. ]_/ Atlanta Granite City Bank, Elberton, Georgia, proposed merger with GC Interim Bank, Elberton, Georgia; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ V Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No 15 - 3 ACTIONS OF THE BOARD - Continued Atlanta Gulf National Bank at Lake Charles, Lake Charles, Louisiana, proposed merger with Lake Charles National Bank, Lake Charles, Louisiana; report to the Comptroller of the Currency on competitive factors. ]_/ Atlanta Bank of Red Bay, Red Bay, Alabama, proposed merger with Interim Bank of Red Bay, Red Bay, Alabama; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta New Iberia National Bancorp, Inc., New Iberia, Louisiana, extension of time until July 11, 1984, within which to become a bank holding company through acquisition of The New Iberia National Bank, New Iberia, Louisiana. 1/ Chicago First Farmers State Bank of Minier, Minier, Illinois, appli cation for prior approval to merge with FSM State Bank, Minier, Illinois, under the charter of FSM State Bank, and title of First Farmers State Bank of Minier; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago West Des Moines State Bank, West Des Moines, Iowa, appli cation for prior approval to reorganize with West Des Moines State Bank, West Des Moines, Iowa; report to the Federal Deposit Insurance Corporation on competitive factors. ]_/ Chicago Decatur Bancshares, Inc., Greensburg, Indiana, extension of time to July 13, 1984, within which to acquire Decatur County Bank, Greensburg, Indiana. 1/ Chicago Firstar Corporation, Appleton, Wisconsin, extension of time to June 17, 1984, within which to acquire State Bank of Green Valley, Green Valley, Wisconsin. 1/ Chicago Banks of Iowa, Inc., Des Moines, Iowa, extension of time to May 31, 1984, within which to acquire Henry County Savings Bank, Mount Pleasant, Iowa. 1/ St. Louis Arkansas Bank & Trust Company, Hot Springs National Park, Arkansas, to make an additional investment in bank premises. ]_/ St. Louis SBV Bancshares, Inc., Virden, Illinois, extension of time until July 8, 1984, within which to become a bank holding company through the acquisition of the successor by merger to State Bank of Virden, Virden, Illionois. 1/ 1_/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 4 ACTIONS OF THE BOARD - Continued St. Louis Morrilton Security Bank, Morrilton, Arkansas, proposal to merge with Interim Morrilton Security Bank, N.A., Morrilton, Arkansas; report to the Federal Deposit Insurance Corporation on competitive factors. V Kansas City Fidelity State Bank and Trust Company, Topeka, Kansas, proposal to merge with FSB Corporation, Topeka, Kansas, and to operate under the charter and title of Fidelity State Bank and Trust Company, Topeka, Kansas; report to the Federal Deposit Insurance Corporation on competitive factors. j_/ Dallas Alice National Bank, Alice, Texas, proposed merger with New Alice National Bank, Alice, Texas; report to the Comptroller of the Currency on competitive factors. }J Dal las Richland State Bank, Rayville, Louisiana, proposed merger with RSB Bank, Rayville, Louisiana; report to the Federal Deposit Insurance Corporation on competitive factors, j_/ Dal las First National Bank in Pleasanton, to merge with New First National Pleasanton, Texas; report to the Currency on competitive factors. Dal las First State Bank of Cleburne, Cleburne, Texas, to invest in bank premises. \j San Francisco Farmers and Merchants Bank, Forest Grove, Oregon, extension of time to October 22, 1984, within which to establish a branch office to be located in the vicinity of the inter section of Glencoe Road and Commercial Avenue, City of North Plains, Oregon. \j San Francisco National Mercantile Bancorporation, Los Angeles, California, extension of time to July 11, 1984, within which to become a bank holding company through acquisition of Mercantile National Bank, Los Angeles, California. \J San Franci sco Center National Bank, Woodland Hills, California, pro posed purchase of assets and assumption of deposit liabilities of the Ventura branch of Union Bank, Los Angeles, California; report to the Comptroller of the Currency on competitive factors. 1/ 1_/ Pleasanton, Texas, proposal Bank in Pleasanton, Comptroller of the V Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 5 ACTIONS OF THE BOARD - Continued To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act New York Approved The Bank of New York, New York, New York. To establish a branch office at 34U1 Erie Boulevard East, Town of De Witt, Onondaga County, New York. ]J Dal las The First State Bank, Abilene, Texas. To estab lish an offsite electronic facility in Abilene, Texas. J_/ San Francisco Community Bank of Santa Ynez Valley, Solvang, California. To establish a branch office to be located at 157 Highway 246, City of Beullton, Santa Barbara County, California, y * * * * * Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Kansas City Not Disapproved Met-State Corp., Brighton, Colorado, Dal las Howe Financial Corporation, Howe, Texas, * * y y * * * Applications and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14) of the Bank Holding Company Act of 1956, as amended_____ San Francisco y Sixty Day Notification Period Allowed to Expire The Bank of California, N.A., San Francisco, California: no objection to establish an off shore banking unit in Taipei, Taiwan. Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 6 - ACTIONS OF THE BOARD - Continued To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Chicago Withdrawn Ball-1, Co., Early, Iowa, for approval to acquire at least 99 percent of the voting shares of Early Savings Bank, Early, Iowa. Chicago Eldon Bankshares, Inc., Eldon, Iowa, for approval to acquire 100 percent of the voting shares of First National Bank of Eldon, Eldon, Iowa. Kansas City NLM Corp., Oklahoma City, Oklahoma, for approval to acquire at least 97.27 percent of the voting shares of First Continental Bank and Trust Co. of Del City, Del City, Oklahoma. 1/ Dallas BancCentral Bancorp, Inc., Amarillo, Texas, for approval to acquire at least 80 percent of the voting shares of BancCentral, Amarillo, Texas (formerly North State Bank of Amarillo). Boston Approved First and Ocean Bancorp, Newburyport, Massachusetts, for approval to acquire 100 percent of the voting shares of First and Ocean National Bank of Newbury port, Newburyport, Massachusetts. V Boston Washington Trust Bancorp, Inc., Westerly, Rhode Island, for approval to acquire 100 percent of the voting shares of The Washington Trust Company of Westerly, Westerly, Rhode Island. J_/ New York Citicorp (Maine), Portland, Maine, for approval to acquire 100 percent of the voting shares of Citibank (Maine), National Association, South Portland, Maine, a proposed new bank. 1_/ New York Independence Bancorp, Inc., Allendale, New Jersey, for approval to acquire 100 percent of the voting shares of Independence Bank of New Jersey, Allen dale, New Jersey. J_/ New York Westport Bancorp, Inc., Westport, Connecticut, for approval to acquire 100 percent of the voting shares of The Westport Bank and Trust Company, Westport, Connecticut. 1/ 1_/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 7 ACTIONS OF THE BOARD - Continued Philadelphia First Bancorp, Inc., Mechanicsburg, Pennsylvania, for approval to acquire 100 percent of the voting shares of The First Bank and Trust Company of Mechanicsburg, Mechanicsburg, Penn sylvania. y Cleveland Citizens Guaranty Bancshares, Inc., Irvine, Kentucky, for approval to acquire 100 percent of the voting shares of Citizens Guaranty Bank, Irvine, Kentucky. y Richmond First Carolina Bancshares Corporation, Darlington, South Carolina, for approval to acquire 80 percent of the voting shares of Carolina Bank & Trust Company, Lamar, South Carolina, y Richmond L.S.B. Bancshares, Inc., Lexington, South Carolina, for approval to acquire 100 percent of the voting shares of the successor by merger to The Lexington State Bank, Lexington, South Carolina, y Atlanta F and M Holding Company, Inc., Manchester, Georgia, for approval to acquire at least 80 percent of the voting shares of F & M Bank and Trust Company, Manchester, Georgia, y Atlanta Key Bancshares, Inc., Tampa, Florida, for approval to acquire at least 80 percent of the voting shares of Key Bank of Florida, Tampa, Florida, y Chicago Crystal Valley Financial Corporation, Middlebury, Indiana, for approval to acquire 100 percent of the voting shares of First State Bank of Middle bury, Middlebury, Indiana. 1_/ St. Louis CSB Bancorp, Petersburg, Indiana, for approval to acquire at least 80 percent of the voting shares of The Citizens State Bank of Petersburg, Peters burg, Indiana, y St. Louis V NBC Capital Corporation, Starkville, Mississippi, for approval to acquire 100 percent of the voting shares of National Bank of Commerce of Mississippi, Starkville, Mississippi. 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 8 - ACTIONS OF THE BOARD - Continued Minneapolis Lewisville Bancorp, Inc., Lewisville, Minnesota, for approval to acquire at least 86.8 percent of the voting shares of Merchants State Bank of Lewisville, Lewisville, Minnesota, y Minneapolis McKenzie County Bancorp, Watford City, North Dakota, for approval to acquire at least 93 percent of the voting shares of The McKenzie County National Bank, Watford City, North Dakota. Kansas City Citizens Security Bancshares, Inc., Bixby, Oklahoma, for approval to acquire 100 percent of the voting shares of Citizens Security Bank and Trust Company, Bixby, Oklahoma. 1/ Kansas City FSB Bancorp, Inc., Altus, Oklahoma, for approval to acquire 100 percent of the voting shares of First State Bank of Altus, Altus, Oklahoma, y Kansas City Gore Valley Bancorporation, Inc., Vail, Colorado, for approval to acquire 100 percent of the voting shares of First National Bank of Vail, Vail, Colorado, a proposed new bank. V Dallas Central Louisiana Capital Corporation, Ferriday, Louisiana, for approval to acquire 100 percent of the voting shares of Louisiana Central Bank, Ferriday, Louisiana, y Dallas Rose Capital Bancshares, Inc., Tyler, Texas, for ap proval to acquire 100 percent of the voting shares of Rose Capital Bank, Tyler, Texas, y Dallas Schwertner Financial Corporation, Schwertner, Texas, for approval to acquire at least 80 percent of the voting shares of Schwertner State Bank, Schwertner, Texas, y San Francisco Ranch Bankshares, Inc., Scottsdale, Arizona, for ap proval to acquire 100 percent of the voting shares of Ranch National Bank, Scottsdale, Arizona, a proposed new bank, y ]J Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 9 ACTIONS OF THE BOARD - Continued To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956_____ Richmond New York Atlanta 1J ~ Withdrawn State Bancorp, Inc., Bruceton Mills, West Virginia, for approval to acquire 100 percent of the voting shares of Preston County Bank, Kingwood, West Virginia, a proposed new bank. ]_/ Approved Citicorp, New York, New York, for approval to acquire 100 percent of the voting shares of Citibank (Maine), National Association, South Portland, Maine, a pro posed new bank. J_/ Landmark Banking Corporation of Florida, Fort Lauderdale, Florida and Preferred Equity Investors of Florida, Inc., Knoxville, Tennessee, for approval to acquire 100 percent of the voting shares of Southwest Florida Banks, Inc., Fort Myers, Florida and indirectly 100 percent of Charlotte County National Bank, Charlotte County, Florida; 99.9 percent of East First National Bank, Fort Myers, Florida; 99.8 percent of First Commercial Bank of Fort Myers, Fort Myers, Florida; 97.8 percent of First National Bank in Fort Myers, Florida; 100 percent of Gulf Coast First National Bank, Fort Myers Beach, Florida; 99.7 percent of Peoples Bank of Pasco City, Pasco County, Florida; 100 percent of Gulf Coast Bank of Pinellas, Medeira Beach, Florida; 100 percent of First National Bank & Trust Co., Naples, Florida; 100 percent of North First Bank, North Fort Myers, Florida; 98.2 percent of Palmetto Bank and Trust Co., Palmetto, Florida; 99.8 percent of Palm State Bank, Pinellas County, Florida; 98.2 percent of First County Bank, Riverview, Florida; 100 percent of Gulf Coast National Bank, Sarasota County, Florida; 99.4 percent of National Bank of Sarasota, Sarasota, Florida; 100 percent of South County Bank, South Venice, Florida; 100 percent of Peoples Bank of Hillsborough City, Tampa, Florida; and 100 percent of The First Bank of Marco Island, Collier County, Florida. Application processed on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 10 - ACTIONS OF THE BOARD - Continued Chicago Geiger Corporation, Edina, Minnesota, for approval to acquire at least 98.8 percent of the voting shares of Iowa National Bank & Trust, Lytton, Iowa. ]_/ Chicago Norris Bancorp, Inc., St. Charles, Illinois, for approval to acquire at least 80 percent of the voting shares of First National Bank at Batavia, Batavia, Illinois. Minneapolis Duke Financial Group, Inc., New Prague, Minnesota, for approval to acquire at least 80 percent of the voting shares of Flag, Inc., Cambridge, Minnesota, and indirectly acquire Peoples State Bank of Cambridge, Cambridge, Minnesota. Dallas Chester State Bancshares, Inc., Chester, Texas, for approval to acquire at least 60.8 percent of the voting shares of The First State Bank, Colmesneil, Texas. _]_/ Dallas Dallas Bancshares, Inc., Dallas, Texas, for approval to acquire 100 percent of the voting shares of North Texas Bank, Lewisville, Texas and First Bank of Rowlett, Rowlett, Texas. ]_/ * * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Boston V 3/ Withdrawn Fleet Financial Group, Inc., Providence, Rhode Island, notification of intent to engage in de novo activities nationwide (acting as insurance agent or broker with respect to insurance that is directly related to a mortgage loan or consumer loan sold or serviced by such subsidiary) through its subsidiary, Fleet Mortgage Corp. (4/11/84) 3/ Application processed on behalf of the Board of Governors under delegated authority. 4(c)(8) notification processed processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 11 ACTIONS OF THE BOARD - Continued Atlanta Approved First Railroad & Banking Company of Georgia, Augusta, Georgia, for approval to acquire Financial Systems, Inc., Jackson, Mississippi. 1/ Atlanta First Railroad & Banking Company of Georgia, Augusta, Georgia, for approval to acquire United Computer Services, Inc., Marion, Illinois. 1/ Atlanta First Railroad & Banking Company of Georgia, Augusta, Georgia, for approval to acquire Valley Finance Corporation, Roanoke, Virginia. J_/ Atlanta Landmark Banking Corporation of Florida, Fort Lauderdale, Florida and Preferred Equity Investors of Florida, Inc., Knoxville, Tennessee, for approval to acquire Southwest Financial Ser vices, Inc., Fort Myers, Florida; Southwest Mortgage Services, Inc., Fort Myers, Florida; and Southwest Data Services, Inc., Fort Myers, Florida. Mi nneapoli s Bank Shares Incorporated, Minneapolis, Minnesota, for approval to acquire the net assets of a going concern, Holm and Associates, Inc., Minneapolis, Minnesota. ~\J New York 3/ Permitted Correction: The notification for Citicorp, New York, New York, to request permission to engage on a nationwide basis in the following activities (the making or acquiring of loans and other extensions of credit, secured or unsecured, for consumer and other purposes; the extension of loans to dealers for the financing of inventory [floor planning] and working capital purposes; the purchasing and servicing for its own account of sales finance contracts; the sale of credit related life and accident and health insurance by licensed agents or brokers, as required; industrial banking activities [including making consumer and commercial loans accepting time and savings deposits]; the making 4(c)(8) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 12 - ACTIONS OF THE BOARD - Continued of loans to individuals and businesses secured by a lien on mobile homes, modular units or related manufactured housing, together with the real property to which such housing is or will be permanently affixed, such property being used as security for the loans; the sale at retail of money orders, travelers checks and U.S. savings bonds; the sale at retail of consumer oriented financial management courses; the servicing, for any person, of loans and other extensions of credit; the originating, acquiring and servicing, for its own account and for the account of others, of extensions of credit secured by liens on residential or non-residential real estate; and the sale of mortgage life and mortgage disability insurance directly related to extensions of mortgage loans, through existing subsidiaries and subsidiaries yet to be formed which appeared on H.2 No. 14, 1984 had an incorrect Permitted date. The correct date should be (4/13/84) 3/ Atlanta 3/ First Railroad & Banking Company of Georgia, Augusta, Georgia, notification of intent to engage in de novo activities (providing data processing and transmission services, facilities, data bases, and access to such services, facilities and data bases both for the internal operations of the Applicant and its subsidiaries and for other customers; these data processing and trans mission services and related activities have previously been approved for customers in certain southeastern states; authorization is now being sought to extend these services and related activities geographically, at such times as may be desirable, to customers located throughout the United States, using major computer centers, remote input/output data collection centers, input/output equipment located in the customers' offices, a transmission network of ground couriers and any other technologically feasible means) the geographic area is to be served throughout the United States, through its subsidiary, First Financial Management Corporation (4/10/84) 3/ 4(c)(8) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 - 13 ACTIONS OF THE BOARD-Continued Chicago NBD Bancorp, Inc., Detroit, Michigan, notification of intent to engage in de novo activities (in consumer finance activities, including the provision of consumer credit through credit card accessed lines of credit and through unsecured revolving credit plans of various kinds) the activities would be conducted in the United States of America, through its subsidiary, NBD Delaware Bank (4/13/84) 3/ Chicago Continental Illinois Corporation, Chicago, Illinois, notification of intent to retain the shares of its sub sidiary, Continental Illinois Corporation Financial Futures, after CICFF expands de novo the activities in which it engages to include (the execution and clearance for nonaffiliated customers of financial futures contracts on various commodity exchanges; as an incidental part of these activities, Continental Illinois Corporation Financial Futures will provide the necessary support and advisory services to its customer, including research, communications, operations, and advice, which will facilitate the customers' efforts to integrate futures market activities into their cash market activities) at 231 South LaSalle Street, Chicago, Illinois; 162 Queen Victoria Street, London, England and 65 Chulia Street, Republic of Singapore, serving customers in the United States and abroad (4/12/84) y Chicago Northern Trust Corporation, Chicago, Illinois, notification of intent to engage in de novo activities (in activities as an investment adviser providing investment or financial advice in accordance with Section 225.25 of the Board's Regulation Y) these activities would be conducted from an office in Chicago, Illinois, serving the entire United States, through its subsidiary, The Griffin Group, Inc. (4/9/84) 3/ Minneapolis Norwest Corporation, Minneapolis, Minnesota, notification of intent to engage in de novo activities (in the sale of credit property and credit-related casualty insurance related to extensions of credit [such sale of creditrelated insurance being a permissible activity under Subparagraphs D and G of Title VI of the Garn-St Germain Depository Institutions Act of 1982]) through its sub- 3 / 4(c)(8) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1984 No. IS - 14 ACTIONS OF THE BOARD - Continued sidiaries, Norwest Financial West Virginia, Inc. and Norwest Financial Industrial West Virginia, Inc., serving the State of West Virginia and through its subsidiary, Norwest Financial New Jersey, Inc., serving the State of New Jersey (4/8/84) 3/ Dal las Independent Bankers Financial Corporation, Dallas, Texas, notification of intent to engage in de novo activities (making, acquiring or servicing for its own account or for the account of others commercial loans, such as would be made, for example by any commercial, mortgage or consumer finance company) these activities will be conducted throughout the United States (4/13/84) 3/ Dal las Independent Bankers Financial Corporation, Dallas, Texas, notification of intent to engage in de novo activities (in providing management consulting advice including, but not limited to, market development, advertising programs and public relations to nonaffiliated bank and nonbank depository institutions) these activities will be conducted throughout the United States, through its subsidiary, Independent Bankers Marketing Corporation (4/13/84) 3/ * * * * * Redemption of Shares Kansas City Approved F & M Bancshares, Inc., Derby, Kansas. J/ Kansas City Lincoln State Company, Lincoln, Nebraska. Kansas City Met-State Corporation, Brighton, Colorado. 3/ ]_/ }J 4(c)(8) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1984 No. 15 15 APPLICATIONS RECEIVED To Establish a Domestic Branch Pursuant To Section 9 of the Federal Reserve Act New York Central Trust Company, Rochester, New York. To establish an offsite electronic facility at 204 Main Street, Village of Brockport, Town of Sweden, County of Monroe, New York. 2/ New York United Jersey Bank, Hackensack, New Jersey. To establish an offsite electronic facility at Main Street (Route 49) and Wade Boulevard, Millville, New Jersey. 2] Philadelphia United Jersey Bank/Southwest, Camden, New Jersey. To establish a remote service facility at Main Street (Rt. 49) & Wade Blvd., Millville, New Jersey. 2/ Chicago McHenry State Bank, McHenry, Illinois. To establish a branch at Church Street and Wilmot Road, Johnsburg, 11linois. 2/ San Francisco Valley Bank of Nevada, Las Vegas, Nevada. A branch office to be located at Bonanza Road and Nellis Blvd., City of Las Vegas, Clark County, Nevada. 2/ * * * * * Applications and Notifications for International Invest ments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14) of the Bank Holding Company Act of 1956, as amended New York 2/ Citicorp, New York, New York: requests consent to retain shares of Citigeneral Insurance Company Limited, London, England, a de novo company, after Citigeneral engages in the underwriting of credit accident and health insurance, credit loss of income insurance, and savings completion insurance, without regard to whether such insurance is related to exten sions of credit by, or savings plans offered by, the Citicorp organization in the United Kingdom. Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the'length of the comment period. H.2, 1984 No. 15 16 APPLICATIONS RECEIVED-Continued San Francisco Bank of America NT&SA, San Francisco, California: prior notification of its intent to increase its existing subordinated loan to European Brazilian Bank, Ltd., London, England. * * * * * To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Boston Bar Harbor Bankshares, Inc., Bar Harbor, Maine, for approval to acquire at least 85 percent of the voting shares of Bar Harbor Banking and Trust Company, Bar Harbor, Maine. 2/ Cleveland First Financial Bancorp, Inc., Wheeling, West Virginia, for approval to acquire 100 percent of the voting shares of The First National Bank and Trust Company of Wheeling, Wheeling, West Virginia, y Cleveland Grant Bancshares, Inc., Dry Ridge, Kentucky, for approval to acquire 100 percent of the voting shares of Citizens Bank, Dry Ridge, Kentucky. 2/ Richmond Fauquier National Bankshares, Inc., Warrenton, Virginia, for approval to acquire 100 percent of the voting shares of The Fauquier National Bank of Warrenton, Warrenton, Virginia. 2/ Atlanta Farmers & Merchants Bancshares, Inc., LaFayette, Alabama, for approval to acquire at least 80 percent of the voting shares of Farmers & Merchants Bank, LaFayette, Alabama. 2/ Atlanta First American Bancshares, Inc., Pelham, Alabama, for approval to acquire 100 percent of the voting shares of First American Bank of Pelham, Pelham, Alabama. 2/ Atlanta NBC Bancshares of DeRidder, Inc., DeRidder, Louisiana, for approval to acquire 100 percent of the voting shares of National Bank of Commerce of DeRidder, DeRidder, Louisiana. 2/ y Application subject to Community Reinvestment Act. The Community Affairs officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 - 17 APPLICATIONS RECEIVED-Continued Atlanta Shamrock Holdings, Inc., Evergreen, Alabama, for ap proval to acquire at least 80 percent of the voting shares of The Union Bank, Repton, Alabama. 2J Chicago Central Illinois Financial Corporation, Champaign, Illinois, for approval to acquire 100 percent of the voting shares of Champaign National Bank, Champaign, Illinois and Market Place National Bank, Champaign, Illinois, j?/ Chicago Community Bancorp, Royal Center, Indiana, for ap proval to acquire 80 percent or more of the voting shares of Community State Bank, Royal Center, Indiana. 2/ Chicago Dorchester Bancshares, Inc., Dorchester, Wisconsin, for approval to acquire 100 percent of the voting shares of Dorchester State Bank, Dorchester, Wisconsin. ZJ Chicago Eastern Michigan Financial Corporation, Croswell, Michigan, for approval to acquire 100 percent of the voting shares of State Bank of Croswell, Croswell, Michigan. 2/ Chicago Erie Financial Corp., Detroit, Michigan, for ap proval to acquire 80 percent of the voting shares of Erie State Bank, Detroit, Michigan. 2/ Chicago Evergreen of Wisconsin, Inc., Poy Sippi, Wisconsin, for approval to acquire 100 percent of the voting shares of Farmers State Bank, Poy Sippi, Wisconsin. 2/ Chicago First Dwight Corporation, Dwight, Illinois, for ap proval to acquire 100 percent of the voting shares of The First National Bank of Dwight, Dwight, 111inois. 2/ Chicago M i n e d a Banshares, Inc., M i n e d a, Iowa, for approval to acquire 100 percent of the voting shares of Mineola State Bank, Mineola, Iowa. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 18 APPLICATIONS RECEIVED-Continued Chicago Northern Trust of Florida Corporation, Miami, Florida, for approval to acquire 99 percent of the voting shares of Northern Trust Bank of Florida, N.A., Miami, Florida; Northern Trust Bank of Florida/ Naples, N.A., Palm Beach, Florida; Northern Trust Bank of Florida/Palm Beach, N.A., Palm Beach, Florida; and Northern Trust Bank of Florida/ Sarasota, N.A., Sarasota, Florida. 2J Chicago Peshtigo National Bancorporation, Inc., Peshtigo, Wisconsin, for approval to acquire at least 83.4 percent of the voting shares of The Peshtigo National Bank, Peshtigo, Wisconsin. 2J Chicago Royal Bank Group, Inc., Royal Oak, Michigan, for approval to acquire 100 percent of the voting shares of National Bank of Royal Oak, Royal Oak, Michigan. 2j Chicago Valley Banc Services Corp., Antioch, Illinois, for approval to acquire 82 percent of the voting shares of Hinckley State Bank, Hinckley, Illinois. 2J St. Louis City National Bancorp, Inc., Fulton, Kentucky, for approval to acquire 100 percent of the voting shares of The City National Bank of Fulton, Fulton, Kentucky. 2/ St. Louis First Western Bancshares, Inc., Booneville, Arkansas, for approval to acquire 100 perccent of the voting shares of Citizens Bank, Booneville, Arkansas. 2/ St. Louis Marshall Financial Corporation, Byhalia, Mississippi, for approval to acquire 80 percent or more of the voting shares of Citizens Bank, Byhalia, Mississippi 2/ St. Louis Morganfield National Service Corp., Morganfield, Kentucky, for approval to acquire 100 percent of the voting shares of Morganfield National Bank, Morganfield, Kentucky. 2J 2/ ~ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 19 APPLICATIONS RECEIVED - Continued Mi nneapoli s First National Agency Company of Deer River, Inc., Deer River, Minnesota, for approval to acquire 87 percent of the voting shares of First National Bank of Deer River, Deer River, Minnesota. 2J Mi nneapoli s O.F.I., Navarre, Minnesota, for approval to acquire 82.39 percent of the voting shares of First National Bank of the Lakes, Navarre, Minnesota. 2/ Minneapolis Olmsted Bancorporation, Inc., Byron, Minnesota, for approval to acquire 100 percent of the voting shares of Byron Bancorporation, Inc., Byron, Minnesota and indirectly acquire State Bank of Byron, Byron, Minnesota. 2/ Kansas City Polo Bancshares, Inc., Richmond, Missouri, for ap proval to acquire 100 percent of the common voting stock of Farmers Bank of Polo, Polo, Missouri. 2J Dallas Franklin Bancorp, Inc., Winnsboro, Louisiana, for ap proval to acquire at least 80 percent of the voting shares of Franklin State Bank, Winnsboro, Louisiana. 2/ Dal las Texas Community Bankers, Inc., Iredell, Texas, for approval to acquire 80 percent of the voting shares of Iredell State Bank of Iredell, Texas, Iredell, Texas. 2/ San Francisco Cashmere Valley Bancshares, Inc., Cashmere, Washington, for approval to acquire 100 percent of the voting shares of Cashmere Valley Bank, Cashmere, Washington and Columbia Valley Bank, East Wenatchee, Washington, a proposed new bank. 2/ San Franci sco Centennial Beneficial Corp., Orange, California, for approval to acquire 100 percent of the voting shares of Sunwest Bank, Tustin, California; 51 percent of Sacramento First National Bank, Sacramento, California, a proposed new bank; and to acquire through North Orange County Bancorp, Orange, California, 100 percent of Heritage Thrift and Loan Association, Brea, California. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 20 - APPLICATIONS RECEIVED - Continued San Franci sco Commercial National Bancorp, Beverly Hills, California, for approval to acquire 100 percent of the voting shares of Commercial National Bank, Los Angeles, California, a proposed new bank. 2/ San Francisco Griffin Holdings, Inc., Los Angeles, California, for approval to acquire 100 percent of the voting shares of First Women's Bank of California, Los Angeles, California. 2/ San Francisco Trans Bankcorp Holdings N.V., Curacao, Netherlands Antilles, for approval to acquire 99 percent of the voting shares of Trans Bankcorp, Inc., Monterey Park, California and indirectly 100 percent of the voting shares of Trans National Bank, Monterey Park, California. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of lthe Bank Holding Company Act of 1956 Atlanta Sunset Financial Corporation, Miami, Florida, for approval to acquire at least 80 percent of the voting shares of Universal Bank, Boynton Beach, Florida, a proposed new bank. 2/ Atlanta Vista Banks, Inc., DeLeon Springs, Florida, for ap proval to acquire at least 80 percent of the voting shares of Bank of Belleview, Belleview, Florida. 2/ Chicago B1 anchardvi1le Financial Services, Inc., Blanchardville, Wisconsin, for approval to acquire at least 94 percent of the voting shares of Highland State Bank, Highland, Wisconsin. 7J Chicago Chemical Financial Corporation, Midland, Michigan, for approval to acquire at least 100 percent of the voting shares of Northern National Bank, Grayling, Michigan. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 - 21 APPLICATIONS RECEIVED - Continued Chicago Citizens Bancorporation, Sheboygan, Wisconsin, for approval to acquire 80 percent of the voting shares of North Side Bancorp, Inc., Racine, Wisconsin and indirectly acquire North Side Bank of Racine, Racine Wisconsin and North Side Bank of Caldonia, Racine, Wi sconsin. 2J Chicago First Busey Corporation, Urbana, Illinois, for ap proval to acquire 80 percent of the voting shares of City Bank of Champaign, Champaign, Illinois. 2/ Chicago First Michigan Bank Corporation, Zeeland, Michigan, for approval to acquire 100 percent of the voting shares of The Oceana County Savings Bank, Hart, Michigan. 2/ Chicago Marshall & 11s1ey Corporation, Milwaukee, Wisconsin, for approval to acquire 100 percent of the voting shares of Wauwatosa State Bank, Wauwatosa, Wisconsin 2/ Chicago N0R-EVAN CORPORATION, Evanston, Illinois, for approval to acquire at least 80 percent of the voting shares of The Elgin National Bank, Elgin, Illinois. Zj Chicago Northern Trust Corporation, Chicago, Illinois, for approval to acquire 100 percent of the voting shares of Northern Trust of Florida Corporation, Miami, Florida and indirectly acquire Northern Trust Bank of Florida, N.A., Miami, Florida; Northern Trust Bank of Florida/Naples, N.A., Naples, Florida; Northern Trust Bank of Florida/Palm Beach, N.A., Palm Beach, Florida; and Northern Trust Bank of FIorida/Sarasota, N.A., Sarasota, Florida. 2/ Chicago Northwest Illinois Bancorp, Freeport, Illinois, for approval to acquire 83.77 percent of the voting shares of Rock City Bank, Rock City, Illinois; to acquire 70 percent of The Whaples and Farmers State Bank, Neponset, Illinois; to acquire 80.60 percent of State Bank of Scales Mound, Scales Mound, Illinois; and to acquire 85.55 percent of Bank of Pecatonica, Pecatonica, Illinois. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No. 15 - 22 APPLICATIONS RECEIVED - Continued Chicago Peoples Bankshares, Ltd., Waterloo, Iowa, for ap proval to acquire 80 percent of the voting shares of First State Bank, Britt, Iowa. 2/ Kansas City Citizens Bank-Corporation, Rock Port, Missouri, for approval to acquire 100 percent of the voting shares of Ridgeway Bancshares, Inc., Ridgeway, Missouri and indirectly acquire 98 percent of the voting shares of Farmers National Bank, Bethany, Missouri; to acquire through an option agreement, 100 percent of the voting and nonvoting shares of Security Bancshares, Inc., Gallatin, Missouri and indirectly acquire 94.9 percent of the voting shares of Bank of Gallatin, Gallatin, Missouri and 20.12 percent of the voting shares of Albany State Bank, Albany, Missouri and to acquire through an option agreement, 100 percent of the voting shares of New Hampton Bancshares, Inc., New Hampton, Missouri and indirectly acquire 99.6 percent of the voting shares of First State Bank, New Hampton, Missouri. 7J * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Atlanta Bank South Corporation, Atlanta, Georgia, for approval to merge with Cumming Bancshares, Inc., Cumming, Georgia and indirectly acquire Bank of Cumming, Cumming, Georgia. 2J Chicago Rockford City Bancorp, Inc., Rockford, Illinois, for approval to merge with Boone Bancorp, Inc., Belvidere, Illinois and indirectly acquire Boone State Bank, Belevidere, Illinois. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1984 No - 23 APPLICATIONS RECEIVED - Continued To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956______ Boston Fleet Financial Group, Inc., Providence, Rhode Island, notification of intent to expand de novo activities (in the making of consumer loans on both a secured and an unsecured basis, the fi nancing of installment sales contracts, the making of first and second mortgage loans and the offer ing of credit life, credit accident and health and credit property insurance in accordance with the provisions of the Garn-St. Germain Depository Institutions Act of 1982) in Arizona, Delaware, New York and nationwide, through its subsidiary, Fleet Finance, Inc. (Delaware) (4/9/84) Boston Old Stone Corporation, Providence, Rhode Island, no tification of intent to engage in de novo activities (in the underwriting of credit life and credit acci dent and health insurance, written in connection with extensions of credit by two affiliated bank holding company subsidiaries, UniMortgage Corpora tion of CO and UniMortgage Corporation of NM) this activity would be conducted in the States of Colorado and New Mexico, through its subsidiary, The Motor Life Insurance Company (4/10/84) New York BT Bancshares, Inc., Albany, New York, requests per mission to engage in the following activities (making or acquiring loans and other extensions of credit such as would be made by a commercial finance company, including commercial loans secured by a borrower's accounts receivable, inventory, or other assets; purchasing or acquiring accounts receivable and making advances thereon as would be done by a factor; servicing such loans or accounts for others; acquiring and selling participations in such obligations; making or acquiring leases and installment sales contracts for others; acting as agent, broker or adviser in connection with such transactions; acquiring and selling participations in the obligations arising from such transactions) on a nationwide basis, through its subsidiary, BT Commercial Corporation (4/12/84) H.2, 1984 No. 15 - 24 APPLICATIONS RECEIVED - Continued St. Louis Central Arkansas Bancshares, Inc., Malvern, Arkansas, notification of intent to engage in de novo activities (the sale of mortgagors' decreasing term life insurance, mortgagors' accident, health and sickness insurance, credit life insurance, credit accident and credit health and accident insurance directly related to extensions of credit by Its subsidiary bank) these activities will be performed in the State of Arkansas (4/5/84) Minneapolis First National Agency Company of Deer River, Inc., Deer River, Minnesota, for approval to engage de novo in general insurance activities in a community with a population not exceeding 5,000. Minneapolis Norwest Corporation, Minneapolis, Minnesota, noti fication of intent to engage in de novo activities (in the activities of consumer finance; sales fi nance; commercial finance including, but not limited to, accounts receivable financing, factor ing and other secured lending activities; lease financing; the underwriting and sale of credit life and credit accident and health related to extensions of credit by Norwest Corporation or its subsidiaries, and the sale of credit property and credit-related casualty insurance related to extensions of credit by Norwest Financial Services, Inc. or its subsidiaries (such underwriting and sale of credit-related insurance being permissible activities under Subpara graph D of Title VI of the Garn - St. Germain Depository Institutions Act of 1982); the offering for sale and selling of travelers checks; and the offering for sale and selling of bookkeeping, payroll and other management financial reporting services) at any location within the State of Wisconsin, the State that will be served is the State of Wisconsin, through its subsidiary, Norwest Financial Services, Inc. (4/11/84) H.2, 1984 No. 15 - 25 APPLICATIONS RECEIVED - Continued Mi nneapoli s S.B.T. Financial, Inc., Townsend, Montana, noti fication of intent to engage in de novo activities (in data processing services for individuals, partnerships and corporations, the data processing services will consist of the preparation of finan cial and payroll information) these activities will be offered in the City of Townsend, Montana, and the counties of Broadwater, Louis & Clark, Meagher, Gallatin and Jefferson (4/10/84) Dal las Bay Bancshares, Inc., La Porte, Texas, notification of intent to engage in de novo activities (in the making, acquiring, or servicing for the company's account or for the account of others residential and commercial mortgage loans) the activities would be performed at the applicants subsidiary offices in the United States, through its subsidiary, BayBanc Mortgage, Inc. (4/11/84) San Franci sco Alameda Bancorporation, Inc., Alameda, California, notification of intent to engage in de novo activities (in making or acquiring mortgage loans, servicing mortgage loans and other ex tensions of mortgage related credits) these activities will be performed in the State of California, through its subsidiary, First Realcorp (4/9/84) San Franci sco Alaska Pacific Bancorporation, Anchorage, Alaska, notification of intent to engage in de novo activities (in commercial lending activities, including making or acquiring loans and other extensions of credit, in conjunction with corporate acquisitions, mergers or consolidations to which Alaska Pacific or its affiliated companies may be a party in accordance with the Board's Regulation Y) these activities would be performed through offices in Anchorage, Alaska, serving the United States (4/9/84) H.2, 1984 No. 15 - 26 APPLICATIONS RECEIVED - Continued San Franci sco Centennial Beneficial Corp., Orange, California, for approval to retain ownership of Centennial Beneficial Mortgage Company, Orange, California Chancellor Financial Services, Inc., Brea, California; Centennial Beneficial Loan Company, Orange, California; and Centennial Mortgage Income Fund, Orange, California. * * * * * Reports Received Ownership Statement Filed Pursuant to Section 13(d) of the Securities Exchange Act__________ The Bank of Alexandria, Alexandria, Virginia (Filed by Khalil M. Karjawally & Gamila Karjawally)
@FedFRASER