Full text of H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received : April 15, 1978

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, 1978 No. 15)
Actions of the Board; Applications and Reports
Received During the Week Ending April 15, 1978
ACTIONS OF THE BOARD
Foreign offices of bank holding companies, publication of
proposed rules by which nonbanking subsidiaries of U.S.
based bank holding companies may establish new foreign
offices.
Regulatory Flexibility Act, S. 1974, a bill that would require
government regulations to be tailored to the size and
resources of the entities being regulated; letter sent
to Chairman Abourezk of the Subcommittee on Administrative
Practice and Procedure to the Senate Judiciary Committee.
Citizens Bancorporation, Sheboygan, Wisconsin, extension of
time to May 10, 1978, within which to acquire shares of
North Shore Bank, Shorewood, Wisconsin. 1/
Kelly Field Bancshares Corporation, San Antonio, Texas, extension of time to June 9, 1978, within which to acquire
Kelly Field National Bank of San Antonio, San Antonio,
Texas. 1/
Republic of Texas Corporation, Dallas, Texas, extension of
time to July 20, 1978, in which to acquire First National
Bank of Duncanville, Duncanville, Texas. 1/
First Bank & Trust Company, Dawson, Texas, to make an investment in bank premises. 1/
St. Michaels Bank, St. Michaels, Maryland, to make an investment in bank premises, 1/
Seabrook Bank and Trust Company, Seabrook, New Hampshire,
extension of time to October 6, 1978, within which to
establish a seasonal branch on Ocean Boulevard (Route 1A), Seabrook Beach, Seabrook, New Hampshire. 1/
Application processed on behalf of the Board of Governors under delegated
authority.




H.2, 1978 No. 15

-

2

-

ACTIONS OF THE BOARD-Continued
Union Bank & Trust Company, Evansville, Wisconsin, extension of time to October 27, 1978, within which to establish a branch at the corner of North Madison and Mills
Streets, Evansville, Wisconsin. 1/
East Freeway State Bank, Houston, Texas, proposed merger
with First State Bank and Trust Company of Houston,
Houston, Texas, report to the Federal Deposit Insurance
Corporation on competitive factors. 1/
First Alabama Bank of Cullman, Cullman, Alabama, proposed
merger with First State Bank of Cullman, Cullman, Alabama,
report to the Federal Deposit Insurance Corporation on
competitive factors. 1/
Rices Landing National Bank, Rices Landing, Pennsylvania,
proposed acquisition by Gallatin National Bank, Uniontown, Pennsylvania, report to the Comptroller of the
Currency on competitive factors. 1/

1/

Application processed on behalf of the Board of Governors under delegated
authority.




H.2, 1978 No. 15

- 3 ACTIONS OF THE BOARD-Continued

To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Approved
Bank of South Florida, South Miami, Florida. 2/
First Bank & Trust Company, Dawson, Texas. 2/
* * * * *

International Investments and Other Actions Pursuant to
Sections 25 and 25(a) of the Federal Reserve Act and
Sections 4(c)(9) and 4(c)(13) of the Bank Holding Company
Act of 1956, as amended
Approved
The Chase Manhattan Bank, N.A., New York, New York: to
acquire an additional 49.8 per cent of the shares of
Banque de Commerce, Antwerp, Belgium.
Citibank Overseas Investment Corporation, Wilmington,
Delaware: to continue to hold the shares of Citicorp
Finanziaria S.p.A., Milan, Italy.
* * * * *

To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Approved
Banconac Shares Inc. (a Florida Corporation), Hollywood,
Florida, for approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of
Caribbean National Bank, Coral Gables, Florida. 2/
Citizens Bancorp, Inc., Hartford City, Indiana, for approval
to acquire 80 per cent or more of the voting shares of
The Citizens State Bank, Hartford City, Indiana. 2/
2/

Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.




H.2, 1978 No. 15

~ 4 ACTIONS OF THE BOARD-Continued

First Gridley BanCorporation, Inc., Gridley, Illinois, for
approval to acquire 80 per cent of the voting shares of
First Bank & Trust Co. of Gridley, Gridley, Illinois.
Denied
Security Bancorp, Walnut Creek, California, for approval to
acquire 100 per cent of the voting shares (less directors1
qualifying shares) of the successor by merger to Security
National Bank, Walnut Creek, California.
*

* * * *

To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Withdrawn
Northern Trust Corporation, Chicago, Illinois, for approval
to engage in trust activities through a de novo subsidiary,
Northern Trust Co. of Texas and to engage in agricultural
management activities through an existing office of
Nortrust Farm Management, Inc., both in San Antonio,
Texas.
Approved
First Union Bancorporation, St. Louis, Missouri, for approval
to retain shares of St. Louis Union Trust Company, St.
Louis, Missouri.
Returned
Equimark Corporation, Pittsburgh, Pennsylvania, notification
of intent to continue to engage in de novo activities
(making extensions of credit secured primarily by the
accounts receivable, inventory and machinery and equipment
to its borrowers) at Two Oliver Plaza, Pittsburgh,
Pennsylvania, through its subsidiary, Equimark Commercial
Finance Company (4/5/78) 3/
Delayed
Rainier Bancorporation, Seattle, Washington, notification of
intent to engage in de novo activities (making equity
and debt investments in corporations or projects designed
primarily to promote community welfare such as the
economic rehabilitation and development of low-income
areas including the purchase, construction, rehabilitation,
3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

- 5 ACTIONS OF THE BOARD-Continued

restoration and sale by Rainier Community Service Corporation of residential and commercial properties, all as
contemplated and limited by Section 225.4(a)(7) of Regulation Y of the Federal Reserve Regulations as from
time to time amended including, without limitation,
projects for the construction or rehabilitation of
housing for the benefit of persons of low or moderate
income, projects for the construction or rehabilitation
of ancillary local commercial facilities necessary to
provide goods or services principally to persons residing
in low or moderate-income housing, projects designed
explicitly to create improved job opportunities for low
or moderate-income groups, and projects sponsored by
local civic organizations as a means to promote greater
public use of the community1s facilities) at Rainier
Bank Tower, 1301 Fifth Avenue, Seattle, Washington,
through its subsidiary, Rainier Community Service Corporation (4/11/78) 3/
Permitted
Citicorp, New York, New York, notification of intent to
relocate d_e novo activities (making of consumer installment personal loans, purchasing consumer installment
sales finance contracts for its own account; sale of
credit related life/accident and health insurance; sale
by a licensed agent of insurance which protects personal
property subject to a security agreement with Nationwide
Financial Corporation of Nevada, a subsidiary of Nationwide Financial Services Corporation, all to be sold in
accordance with applicable State laws and regulations;
in regard to the sale of credit related insurance, the
business of a general insurance agency is not conducted)
from 119 North Fourth Street, Las Vegas, Nevada to 4698
East Flamingo Road, Las Vegas, Nevada, through its subsidiary, Nationwide Financial Corporation of Nevada
(4/15/78) 3/
Union Trust Bancorp, Baltimore, Maryland, notification of
intent to relocate jde novo activities (making installment
loans to individuals for personal, family or household
purposes, purchasing sales finance contracts executed in
connection with the sale of personal, family or household goods or services; acting as agent in the sale of
credit life and credit accident and health insurance
directly related to its extensions of credit; acting as
V

4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

•*- 6 ACTIONS OF THE BOARD-Continned

agent in the sale of insurance protecting collateral
held against the extensions of credit; and making second
mortgage loans secured in whole or in part by mortgage
or other lien on real estate) from 111 West Avenue,
Kannapolis, North Carolina to 1306 South Cannon Boulevard, Kannapolis, North Carolina, through its subsidiary,
Landmark Financial Services, Inc. d/b/a Landmark Finance
Corporation of North Carolina and Landmark Mortgage
Corporation (4/10/78) 3/
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other
extensions of credit such as would be made or acquired
by a finance company and servicing loans and other extensions of credit, such activities will include, but
not be limited to, making consumer installment loans,
purchasing installment sales finance contracts, making
loans and other extensions of credit to small businesses,
and making loans secured by real and personal property;
and the offering of credit related life and credit related accident and disability insurance, and credit related property insurance in connection with extensions
of credit made or acquired by FinanceAmerica Corporation
of Georgia) at 2526 North Atlanta Street, Smyrna, Georgia,
through its indirect subsidiary, FinanceAmerica Corporation of Georgia (4/10/78) 3/
Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities
(the origination and acquisition of mortgage loans
including development and construction loans on multifamily and commercial properties, for its own account or
for the sale to others and the servicing of such loans
for others) at 1555 Flamingo Avenue, Las Vegas, Nevada,
through its subsidiary, Security Pacific Mortgage Corporation (4/14/78) 3/
3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

7
ACTIONS OF THE BOARD-Continued

To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Delayed
Gamble-Skogmo, Inc., Minneapolis, Minnesota, notification
of intent to acquire indirectly through a subsidiary all
issued and outstanding stock of Minnesota Title Financial
Corporation (4/13/78) 3/
Permitted
American Financial Corporation, Cincinnati, Ohio and its
subsidiaries, notification of intent to purchase more
than a 5 per cent interst in: The American Druggists
Insurance Co.; Aristar, Inc.; Arlen Realty & Development;
Coca-Cola Bottling (N.Y.); Gannett Co.; Kenton Corp.;
PSA, Inc.; Rockwood National Corp.; Ryder System; State
Mutual Investors; W. R. Berkley Corp.; and Western
Insurance Securities (4/9/78) 3/

3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




8

H.2, 1978 No. 15

APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act ________________
The Dollar Savings Bank Company, Niles, Ohio. Branch to
be established at 5826 Warren-Youngstown Road, Niles,
Trumbull County.
First Bank and Trust Company of South Bend, South Bend,
Indiana. Branch to be established at U.S. #20 West at
County Line Road (within Wilcox, Inc. Supermarket), New
Carlisle, St. Joseph County.
*

* * * *

To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Fidelity American Bank, Virginia Beach, Virginia Beach.
* * * * *

Thirty Day Notice of Intention to Establish an Additional
Branch in a Foreign Country by Corporations Operating Under
Section 25 or Section 25(a) of the Federal Reserve Act
Citibank, N.A., New York, New York: informs the Board of
the intention of Banque Grindlay Ottomane, Paris, France,
a wholly-owned indirect subsidiary of Grindlays Bank,
Ltd., London, England, to establish an additional branch
in France, to be located in Nantes.
* * * * *

To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Bank of America, N.T. & S.A., San Francisco, California:
to establish an additional branch to be located in
Charlotte Amalie, St. Thomas, U.S. Virgin Islands.




H.2, 1978 No. 15

- 9 APPLICATIONS RECEIVED-Cont inued

Wells Fargo Bank, N.A., San Francisco, California: to
establish its initial branch in Buenos Aires, Argentina.
* * * * A

To Expand a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Muyskens Corporation, Casselberry, Florida, for approval
to acquire 87.9 per cent of the voting shares of Tropic
Bank of Seminole, Casselberry, Florida.
Community Bancorporation, Clear Lake, Iowa, for approval
to acquire 100 per cent of the voting shares of Community
State Bank of Clear Lake, Clear Lake, Iowa.
Great Wisconsin Corporation, Fond du Lac, Wisconsin, for
approval to acquire 80 per cent or more of the voting
shares of Eldorado State Bank, Eldorado, Wisconsin.
Glen Rose Bancshares, Inc., Glen Rose, Texas, for approval
to acquire 80 per cent or more of the voting shares of
The First National Bank in Glen Rose, Glen Rose, Texas.
* * * * *

To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Republic of Texas Corporation, Dallas, Texas, for approval
to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Greenville Avenue Bank
and Trust, Dallas, Texas.
Texas Commerce Bancshares, Inc., Houston, Texas, for approval
to acquire 100 per cent of the voting shares (less
directors' qualifying shares) of Westview Commerce Bank,
National Association, Houston, Texas, a proposed new
bank.




H.2, 1978 No. 15

—

10

—

APPLICATIONS RECEIVED-Continued
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in d_e novo activities
(consumer finance and insurance agency for the sale of
credit life, credit accident and health, and credit
property insurance sold in connection with extensions of
credit) at 94 Highway No. 436, Fern Park, Florida,
through its indirect subsidiaries, Southern Discount
Company and S.D.A. Corp. (both Florida Corporations)
which are wholly-owned by Industrial National Corporation1 s indirect subsidiary, Southern Discount Company (a
Rhode Island Corporation) with its principal office in
Atlanta, Georgia (4/12/78) 3/
Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in de novo activities
(consumer finance and insurance agency for the sale of
credit life, credit accident and health, and credit
property insurance sold in connection with extensions of
credit) at 307 West Ogeechee Street, Sylvania, Georgia,
through its indirect subsidiary, Southern Discount
Company of Georgia (a Georgia Corporation) which is
wholly-owned by Industrial National Corporation's indirect
subsidiary, Southern Discount Company (a Rhode Island
Corporation) with its principal office in Atlanta,
Georgia (4/13/78) V
Citicorp, New York, New York, notification of intent to
engage in die novo activities (making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other
than personal, family or household usage; sale of credit
related life/accident and health, or decreasing or level
(in case of single payment loans) term life insurance to
cover the outstanding balances on credit transactions
(singly or jointly with co-signers in the case of life
coverage) in the event of the obligator's disability by
licensed agents or brokers to the extent permissible
under applicable State insurance laws and regulations;
the sale of credit related property and casualty insurance protecting personal and real property subject to a
security agreement with Nationwide Financial Corporation
_3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

- 11 APPLICATIONS RECEIVED-Contlnued

of New Mexico, Nationwide Financial Corporation of
Nebraska, and Nationwide Financial Corporation of North
Carolina and to include liability coverage in home or
automobile policies where such is the general practice
by licensed agents or brokers to the extent permissible
under applicable State insurance laws and regulations;
credit related decreasing term life insurance and accident and health insurance may be reinsured by Gateway
Life Insurance Company, an affiliate of Nationwide
Financial Corporation of New Mexico, Nationwide Financial
Corporation of Nebraska, and Nationwide Financial Corporation of North Carolina; further, in regard to the sale
of credit-related insurance, the subsidiary does not act
as a general insurance agency) at 327 North Main Street,
Roswell, New Mexico; 109 East Lohman Street, Las Cruces,
New Mexico; 1002 South 74th Plaza, Omaha, Nebraska; 4401
"0" Street, Lincoln, Nebraska; and 3535 South Wilmington
Street, Suite 205 Tryon Hills Office, Raleigh, North
Carolina, through its subsidiary, Nationwide Financial
Corporation of New Mexico for the New Mexico offices,
Nationwide Financial Corporation of Nebraska for the
Nebraska office and Nationwide Financial Corporation of
North Carolina for the North Carolina office (4/11/78)
3/
Citicorp, New York, New York, notification of intent to
engage in de_ novo activities (making consumer installment personal loans, purchasing and servicing for its
own account installment sales finance contracts, making
loans for the account of others such as one-to-four
family unit mortgage loans, making loans to individuals
secured by real and personal property, the proceeds of
which may be for purposes other than personal, family or
household usage; sale of credit related life/accident
and health, or decreasing or level (in the case of
single payment loans) term life insurance to cover the
outstanding balances on credit transactions (singly or
jointly with co-signers in the case of life coverage) in
the event of death, or, to make contractual monthly
payments on the credit transactions in the event of the
obligator's disability by licensed agents or brokers to
the extent permissible under applicable State insurance
laws and regulations; the sale of credit related property
and casualty insurance protecting personal and real prop3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

- 12 APPLICATIONS RECEIVED-Continued

erty subject to a security agreement with Citicorp
Person-to-Person Financial Center, Inc. and to include
liability coverage in home or automobile policies where
such is the general practice by licensed agents or
brokers to the extent permissible under applicable State
insurance laws and regulations; credit related decreasing term life insurance and accident and health insurance may be reinsured by Gateway Life Insurance Company,
an affiliate of Citicorp Person-to-Person Financial
Center, Inc.; further, in regard to the sale of creditrelated insurance, the subsidiary will not act as a
general insurance agency) at 9000 Keystone Crossing,
Suite 110 & 210, Indianapolis, Indiana, through its
subsidiary, Citicorp Person-to-Person Financial Center,
Inc. (4/12/78) 3/
Citicorp, New York, New York, notification of intent to
engage in de_ novo activities (making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other
than personal, family or household usage; sale of credit
related life/accident and health, or decreasing or level
(in the case of single payment loans) term life insurance to cover the outstanding balances on credit transactions (singly or jointly with co-signers in the case
of life coverage) in the event of death, or, to make
contractual monthly payments on the credit transactions
in the event of the obligator!s disability by licensed
agents or brokers to the extent permissible under applicable State insurance laws and regulations; the sale of
credit related property and casualty insurance protecting
personal and real property subject to a security agreement with Nationwide Financial Corporation of Nevada and
to include liability coverage in home or automobile
policies where such is the general practice by licensed
agents or brokers to the extent permissible under applicable State insurance laws and regulations; credit related decreasing term life insurance and accident and
health insurance may be reinsured by Gateway Life Insurance Company, an affiliate of Nationwide Financial
Corporation of Nevada; further, in regard to the sale of
credit-related insurance, the subsidiary does not act as
a general insurance agency) at 1151 Rock Blvd., Sparks,
_3/

4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

- 13 APPLICATIONS RECEIVED-Continued

1314 South Wells Avenue, Reno and 4600 Kietzke Lane,
Building 1, Suite 206, Reno, all located in Nevada,
through its subsidiary, Nationwide Financial Services
Corporation presently operating as Nationwide Financial
Corporation of Nevada (4/13/78) 3/
United Virginia Bankshares Incorporated, Richmond, Virginia,
notification of intent to engage in de novo activities
(originating loans as principal, originating loans as
agent, servicing loans for nonaffiliated individuals,
partnerships and corporations, servicing loans for
affiliates of United Virginia Bankshares Incorporated;
the sale as agent of credit life, credit disability,
mortgage redemption and mortgage cancellation insurance
in connection with such loans and such other activities
as may be incidental to the business of a mortgage
corporation) at 4919 Jamestown Avenue, Baton Rouge,
Louisiana, through its subsidiary, United Virginia
Mortgage Corporation (4/11/78) 3/
Cottonrudy Investment Company, Seymour, Missouri, notification of intent to continue to engage in d<B novo
activities (sale, as agent, of credit life and credit
accident and health insurance related to extensions of
credit made by its subsidiary, The Seymour Bank) c/o The
Seymour Bank, Seymour, Missouri (4/11/78) 3/
Fremont First National Co., Lincoln, Nebraska, notification
of intent to engage in
novo activities (conducting
the business of an industrial loan and investment company including issuance of installment and fully paid
certificates of indebtedness and making loans, including
consumer loans, commercial loans and first and second
real estate mortgage loans; and acting as an insurance
agent in the sale of decreasing term (and level term on
single payment demand notes) credit life, health and
accident insurance directly related to extensions of
credit by Mutual Savings Company of Columbus for the
purpose of assuring the repayment of extensions of
credit in the event of death or disability of the borrower)
at 2305-23rd Street, Columbus, Nebraska, through a
subsidiary, Mutual Savings Company of Columbus (4/12/78)
3/

3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1978 No. 15

- 14 APPLICATIONS RECEIVED-Continued

Midland Capital Co., Oklahoma City, Oklahoma, notification
of intent to engage in de. novo activities (mortgage
banking, including origination and services of all types
of residential and commercial mortgage loans) at 6117
Brockton Avenue, Suite #203, Riverside, California,
through a subsidiary, Midland Mortgage Co. (4/10/78) 3/
Old National Bancorporation, Spokane, Washington, notification of intent to engage in de novo activities (making
or acquiring, for its own account or for the account of
others, loans and other extensions of credit including
the making of consumer installment loans, purchasing
consumer installment sales finance contracts and the
making of loans to small businesses; acting as an insurance agent or broker for the purpose of selling
credit life and credit accident and health insurance in
connection with extensions of credit by Old National
Financial Services, Inc., secured or unsecured, and
acting as an agent or broker for the purpose of selling
property and casualty insurance on personal property
subject to security interests held by Old National
Financial Services, Inc.) at 2190 Meridian Park Boulevard,
Concord, 1361 South Winchester Boulevard, San Jose and
1000 - 4th Street, San Rafael, all located in California,
through its subsidiary, Old National Financial Services,
Inc. and to engage in an additional activity (acting as
an insurance agent or broker for the purpose of selling
credit life and credit accident and health insurance in
connection with extensions of credit by Old National Financial Services, Inc., secured or unsecured, and acting
as an agent or broker for the purpose of selling property
and casualty insurance on personal property subject to
security interests held by Old National Financial Services, Inc.) at 2190 Meridian Park Boulevard, Concord,
1361 South Winchester Boulevard, San Jose and 1000 -4th
Street, San Rafael, all located in California, through
its subsidiary, Union Securities Co. (4/3/78) 3/
United Bancorp, Roseburg, Oregon, notification of intent to
engage in jde novo activities (doing business as a consumer finance company, making loans permissible under
Oregon Revised Statutes, Chapter 725; and acting as insurance agent with regard to the transaction of group
and individual credit life and credit health insurance
3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




#
H.2, 1978 No. 15

15
APPLICATIONS RECEIVED-Continued

in connection with extensions of credit by Family Finance Corp., such insurance shall be limited in term to
a maximum of ten years, and in amount to the total
amount repayable except that in the case of agricultural
credit transactions of up to 18 months duration, the
insurance may be in the amount of the commitment) at 112
E. Central, Sutherlin, Oregon, through its subsidiary,
Family Finance Corp. (4/10/78) 3/
U.S. Bancorp, Portland, Oregon, notification of intent to
engage in de novo activities (making, acquiring and servicing of loans and other forms of credit and financing,
either secured or unsecured, for its own account or for
the account of others including commercial, industrial,
agricultural and personal loans of all types, financial
leases, sales contracts, accounts receivable and equity
loans secured by real estate, leasing of personal property
and equipment and acting as agent, broker or adviser in
the leasing of such property of the making of such
loans; and acting as insurance agent or broker with
regard to credit life and disability insurance relating
only to said extensions of credit as made by this corporation) at 32 Oakway Mall, Eugene, Oregon, through its
subsidiary, U.S. Commercial Corp. (4/6/78) 3/
* * * * *

To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Gamble-Skogmo, Inc., Minneapolis, Minnesota, notification
of intent to acquire Howard Brothers Discount Stores,
Inc., Monroes, Louisiana (4/12/78) 3/
* * * A *

REPORTS RECEIVED
Current Report Filed Pursuant to Section 13 of the
Securities Exchange Act
The Lorain County Savings & Trust Company, Elyria, Ohio.
3/

4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




#
H.2, 1978 No. 15

-16REPORTS RECEIVED-Continued

Manufacturers Bank & Trust Company of St. Louis, St.
Louis, Missouri.
The Sylvania Savings Bank Company, Sylvania, Ohio.
* * * * *

PETITIONS FOR RULEMAKING
None.