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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1986, No. 17 Actions of the Board Applications and Reports Received During the Week Ending April 26, 1986 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Statement by Chairman Volcker before the Subcommittee on Telecommunications, Consumer Protection and Finance of the House Committee on Energy and Commerce concerning the rapid growth of debt ixi the United States and its possible implications for our financial markets and economy. Statement by Frederick R. Dahl before the Subcommittee on International Economic Policy and Trade of the House Committee on Foreign Affairs regarding the role of the Federal Reserve in implementing the Bank Export Services Act. Director, BS&R Boston Federal list of subject M a y " 13, Reserve Board published a revised over-the-counter stocks that are to its margin regulations, effective 1986. 1/ The Conifer Group, Inc., Worcester, Massachusetts — extension of time to June 6, 1986, within which to engage in certain insurance activities through Conifer Insurance Company, Inc. 1/ Boston The First National Bank of Boston, Boston, Massachusetts, proposed merger with Bank of Boston - Western Massachusetts, N . A . , Springfield, Massachusetts — report to the Comptroller of the Currency on competitive factors. 1/ Boston First NH - White Mountain Bank, North Conway, 1/ A p p lic a tio n p ro c e s s e d on b e h a lf o f th e B oard o f G overnors u n der d e le g a te d a u th o rity . H . 2, 1986, No. 17 2 ACTIONS OF THE BOARD - Continued New Hampshire, proposed merger with White Mountain National Bank, North Conway, New Hampshire and North Country Bank, E<erlin, New Hampshire — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ New York Norstar Bank of Upstate NY, Albany, New York -- investment in bank premises. 1/ New York NBT National Bank, Norwich, Norwich, New York, proposed merger with The National Bank and Trust Company of Norwich — report to the Comptroller of the Currency on competitive factors. 1/ Mew York Bergen Bank A/S, Bergen, Norway — extension of time to June 7, 1986, within which to acquire shares of Scandinaviska Enskilda Banken Corporation, N ew York. 1/ Philadelphia Williamsport National Bank, Williamsport, Pennsylvania, proposed merger with Williamsport Interim National Bank — report to the Comptroller of the Currency on competitive factors. 1/ Philadelphia Commonwealth Bank and Trust Company, N.A., W i l l i a m s p o r t , Pennsylvania, proposed merger with The First National Bank of Howard, Howard, Pennsylvania — report to the Comptroller of the Currency on competitive factors. 1/ Philadelphia Peoples National Bank, of Susquehanna County, Hallstead, Pennsylvania, proposed merger with Hallstead Interim National Bank, Hallstead Pennsylvania — report to the Comptroller of the Currency on competitive factors. 1/ Cleveland Ameritrust Corporation, Cleveland, Ohio — extension of time to June 1, 1986, within which to commence operations of AT Investment Services Corp. 1/ Richmond South Carolina National Corporation, Columbia, South Carolina — extension of time to June 1, 1986, within which to engage de novo in discount securities brokerage through SCN Discount Brokerage Services, Inc., Columbia, South Carolina. 1/ 1/ A p p lic a tio n p ro c e s s e d on b e h a lf o f th e B oard o f G overnors u n der d e le g a te d a u th o rity . H.2, 1986, No. 17 3 ACTIONS OF THE BOARD - Continued Richmond Shawsville Interim Bank, Inc., Shawsville, Virginia — extension of time to August 12, 1986, within which to merge with Bank of Shawsville. 1/ Richmond Farmers and Merchants Bank of S u m m e r s v i l l e , S u m m e r s v i l l e , West Virginia — investment in bank premises. 1/ Richmond First Citizens Bank and Trust Company of South Carolina, Columbia, South Carolina, proposed merger with The First National Bank of Sharon, Sharon, South Carolina — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta Mississippi River Bancshares, Ltd., Belle Chasse, Louisiana — extension of time to July 27, 1986, within which to become a bank holding company through acquisition of Mississippi River Bank. 1/ Chicaco Wyandotte Savings Bank, Wyandotte, Michigan — investment in bank premises. 1/ Chicago Valley Bancorporation, Appleton, Wisconsin — extension of time to July 13, 1986, within which to establish a de novo subsidiary, Valley Brokerage Services, Inc., and to engage in securities brokerage. 1/ Chicago Central State Bank, Beulah, Michigan, proposed merger with CS Bank — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago Fidelity Bank of Troy, Troy, Michigan, proposed merger with Fidelity Bank of Michigan, Birmingham, Fidelity Bank of Southfield, Southfield, and Fidelity Bank of Bingham Farms, Bingham Farms, Michigan — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago State Savings Bank, Frankfort, Michigan, proposed merger with SS Bank — • report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago Calumet National Corporation, Hammond, 1/ A p p lic a tio n p r o c e s s e d on b e h a lf o f th e B o ard o f G overnors u n d er d e le g a te d a u th o rity . H.2, 1986, No. 17 4 ACTIONS OF THE BOARD - Continued Indiana — extension of time to May 23, 1986, within which to acquire the successor by merger to Calumet. National Bank. 1/ Chicacro The North Salem State Bancorporation, North Salem, Indiana — extension of time to July 14, 1986, within which to become a bank holding company through acquisition of The North Salem State Bank. 1/ Chicago State Bank of Croswell, Croswell, extension of time to May 5, 1986, which to establish a branch at 66 Avenue, and to make an investment premises. 1/ St. Louis The citizens State Bank, Brownstone, Indiana, proposer merger with Ewing Bank — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Dallas Texas American Bancshares Inc., Forth Worth, Texas — extension of time to July 16, 1986, within which to consummate the acquisition of Texas American Bank/Cityview, N.A. 1/ Dallas Texas American Bancshares Inc., Fort Worth, Texas — extension of time to July 26, 1986, within which to acquire Tabrokerage Inc. 1/ Dallas N ew United Bank, College Station, Texas, proposed merger with UnitedBank-College Station, N.A. — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Dallas New Overton Bank, Overton, Texas, proposed merger with First State Bank — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Dallas N e w Tanglewood Bank, Houston, Texas, proposed merger with Tanglewood Bank, N.A. — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ San Francisco Bancal Tri-State Corporation, San Francisco, California — extension of time to October 1, 1986, within which to divest certain property. 1/ 1/ Michigan — within N. Howard in bank A p p lic a tio n p ro c e sse d on b e h a lf o f th e B oard o f G overnors u n der d e le g a te d a u th o rity . H.2, 1986, No. 17 5 ACTIONS OP THE BOARD - Continued San Francisco Beaver State Bank, Beaverton, proposed merger with Key Bank Woodburn, Oregon — report to Deposit Insurance Corporation factors. 1/ Oregon, of Oregon, the Federal on competitive San Francisco Savings Bank of Puget Sound, FSB, Seattle, Washington, proposed merger with N e w Bank of Puget Sound — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ San Francisco Valley Bank of Nevada, Las Vegas, Nevada — extension of time to May 16, 1986, within which to establish a branch in the vicinity of Bonanza Road and Nellis Boulevard. 1/ * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Withdrawn New York Chemical Bank, Ne w York, Ne w York — to establish a branch at Bozell, Jacobs, Kenyon, and Eckhardt Inc., 40 West 23 Street, N e w York, Ne w York. (4/25/86) Approved Cleveland Lorain County Bank, Elyria, Ohio — to establish a branch at 26700 State Route, Columbia Station, Ohio. 1/ (4/25/86) 82 Richmond First Virginia Bank, Falls Church, Virginia — to establish a branch at 6045 A Burke Centre Parkway, Burke, Virginia. 1/ (4/25/86) Richmond Union Trust Company of Maryland, Baltimore, Maryland — to establish a branch at 201 Russell avenue, Gaithersburg, Maryland. 11 (4/25/86) Richmond Union Trust Company of Maryland, Baltimore, Maryland — establish a branch at 564 Ritchie Highway, Severna Park, Maryland. 1/ (4/25/86) Atlanta First Columbia Bank, Martinez, Georgia — 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n o r s u n d e r d e l e g a t e d authority. to H.2, 1986, No. 6 17 ACTIONS OF THE BOARD - Continued establish a branch at 216-B Bobby Jones Expressway, Martinez, Georgia, to be known as the Piggly Wiggly Branch. 1/ (4/21/86) * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Approved Richmond The Bel Air Bank, Bel Air, Maryland — to merge with The Commercial Bank, Bel Air, Maryland. 1/ (4/21/86) Atlanta Georgia Railroad Bank & Trust Company, Augusta, Georgia — to merge with Bank of Waynesboro, Waynesboro, Georgia. 1/ (4/22/86) * * * * * To Become a M e m b e r of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved Richmond The Bel Air Bank, Bel Air, Maryland. (4/21/86) 1/ * * * * * Applications and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 2 5 (a) of the Federal Reserve A c t and Sections 4(c)(9), 4(c) (13) and 4(c) (14) of the Bank Holding Company Ac t of 1956, as amended Approved New York Chase Manhattan Capital Markets International, Newark, Delaware — granted relief from commitments made by Chase Manhattan Capital Markets Interna t i o n a l , Newark, Delaware to hold Simon & Coates and Laurie, Milbank & Co., directly or indirectly, through Chase Manhattan Capital Markets International, Newark, Delaware. (4/24/86) Forty-five D a y Notification Period Allowed to Expire 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n o r s u n d e r d e l e g a t e d authority. H.2, 1986, No. 17 7 ACTIONS OF THE BOABD - Continued New York Bankers International Corporation, N e w York, N e w York — no objection to establish a de novo company, BT Gilts Limited, London, England. (4/24/86) N e w York Citicorp, N e w York, N e w York — no objection to invest in its wholly owned subsidiary, Seccombe Marshall & Campion PLC, London, England. (4/22/86) * * * * * To F o r m a Bank Holding C o m p a n y Pursuant to Section 3 ( a ) (1) o f the Bank Holding Company A c t o f 1956 Withdrawn San Francisco NABCO Holdings, Inc., Phoenix, Arizona — for approval to acquire at least 55.02 percent of the voting shares of The North American Bank, Phoenix, Arizona. (4/21/86) Approved New York NBT Bancorp Inc., Norwich, N e w York — for approval to acquire 100 percent of the voting shares of The National Bank and Trust Company of Norwich, Norwich, N e w York. 1/ (4/23/86) Cleveland Mount Sterling National Holding Corporation, Mount Sterling, Kentucky — for approval to acquire 100 percent of the voting shares of The Mount Sterling National Bank, Mount Sterling, Kentucky. 1/ (4/24/86) Chicago East Side Bancorporation, Chicago, Illinois — for approval to acquire 100 percent of the voting shares of East Side Bank and Trust Company, Chicago, Illinois. 1/ (4/22/86) Chicago 1st Community Bancorp, Inc., Sparta, Michigan — for approval to acquire 100 percent of the voting shares of Sparta State Bank, Sparta, Michigan. 1/ (4/22/86) Chicago Outagamie Bancorp, Inc., Sheboygan, Wisconsin — for approval to acquire 100 percent of the voting shares of Outagamie Bank Shares, Inc., Appleton, Wisconsin and indirectly the Outagamie Bank, Appleton, Wisconsin. 1/ (4/25/86) 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n o r s u n d e r d e l e g a t e d authority. H.2, 1986, No. 17 8 ACTIONS OF THE BOARD - Continued Minneapolis Shell Lake Bancorp, Inc., Shell Lake, Wisconsin — for approval to acquire 100 percent of the voting shares of Shell Lake State Bank, Shell Bank, Wisconsin. 1/ (4/22/86) Dallas Bandera Bancshares, Inc., Dallas, Texas — for approval to acquire 100 percent of the voting shares of Bandera Bank, Bandera, Texas, a proposed new bank. 1/ (4/24/86) Dallas Security Dallas Bancshares, Inc., Dallas, Texas — for approval to acquire 100 percent of the. voting shares of Security Bank, Dallas, Texas. 1/ (4/22/86) * * * * * To Expand a Bank Holding Company Pursuant to Section 3 ( a ) (3) of the Bank Holding Company A c t of 1956 R e tu rn e d Cleveland Cumberland Valley Financial Corporation, London, Kentucky — for approval to acquire at least 66.67 percent of the voting shares of Farmers National Bank, Williamsburg, Kentucky. (4/24/86) Kansas City Commercial Landmark Corporation, Muskogee, Oklahoma — for approval to acquire at least 89.1 percent of the voting shares of Sequoyah State Bank of Muldrow, Muldrow, Oklahoma. (5/1/86) Approved Boston Saver's Bancorp, Inc., Littleton, N e w Hampshire -- for approval to acquire 100 percent of the voting shares of United Savings Bank, Manchester, Ne w Hampshire, a proposed new bank (converted from a Federal Savings & Loan A s s o c i a t i o n ) . 1/ (4/25/86) New York Saban S.A., Panama City, Republic of Panama — for approval to acquire an additional 54 percent of the voting shares of Republic New York Corporation, Ne w York, New York and indirectly Republic National Bank of New York, Ne w York. 1/ (4/23/86) 1/ A p p lic a tio n p ro c e s s e d on b e h a lf o f th e B oard o f G overnors u n d er d e le g a te d a u th o r ity . H.2, 1986, No. 17 9 ACTIONS OF THE BOARD - Continued Richmond First Union Corporation, Charlotte, North Carolina — for approval to acquire First Bankers Corporation of Florida, Pompano Beach, Florida. (4/17/86) Richmond First Virginia Banks, Inc., Falls Church, Virginia — for approval to acquire 100 percent of the voting shares of The Commercial Bank, Bel Air, Maryland. 1/ (4/21/86) Chicago Associated Banc-Corp, Green Bay, Wisconsin — for approval to acquire 100 percent of the voting shares of Randall Bank, Madison, Wisconsin. 1/ (4/24/86) Chicago First Interstate Corporation of Wisconsin, Sheboygan, Wisconsin — for approval to acquire 100 percent of the voting shares of Outagamie Bank Shares, Inc., Appleton, Wisconsin and indirectly The Outagamie Bank, Appleton, Wisconsin. 1/ (4/25/86) Chicago Marshall & Ilsley Corporation, Milwaukee, Wisconsin — for approval to acquire 100 percent of the voting shares of The Home State Bank of South Milwaukee, South Milwaukee, Wisconsin. 1/ (4/23/86) St. Louis Mega Bancshares, Inc., St. Ann, Missouri — for approval to acquire at least 99.96 percent of the voting shares of Mega Bank of St. Charles County, St. Charles County, Missouri, a proposed new bank. 1/ (4/22/86) Dallas United City Corporation, Plano, Texas — for approval to acquire 100 percent of the voting shares of City National Bank of Irving, Irving, Texas, a proposed new bank. 1/ (4/24/86) * * * * * To Expand a Bank Holding Company Pursuant to Section 3 ( a ) (5) of the Bank Holding Company Act of 1956 Approved Philadelphia 1/ Fulton Financial Corporation, Lancaster, Pennsylvania — for approval to merge with Albion Bancorp, Inc., Pen Argyl, Pennsylvania A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n o r s u n d e r d e l e g a t e d authority. H.2, 1986, No. 17 10 ACTIONS OF THE BOARD - Continued and indirectly acquire Per Argyl National Bank, Pen Argyl, Pennsylvania. 1/ (4/22/86) Chicago Fort Wayne National Corporation, Fort Wayne, Indiana — for approval to merge with Churubusco Bancorp, and indirectly acquire Churubusco State Bank, both of Churubusco, Indiana. (4/23/86) Chicago Fort Wayne National Corporation, Fort Wayne, Indiana — for approval to merge with DeKalb Financial C o r p . , and indirectly acquire Citizens State Bank, both of Waterloo, Indiana. (4/23/86) Chicago Fort Wayne National Corporation, Fort Wayne, Indiana — for approval to merge with Auburn Financial Corporation, and indirectly acquire Auburn State Bank, both Auburn, Indiana. (4/23/86) * * * * * To Expand a Bank Holding Company Pursuant to Section 4 ( c ) (8) of the Bank Holding Company A c t of 1956 Returned Dallas PSB Financial Corporation, Many, Louisiana — to engage de novo (making, acquiring, and/or servicing loans for itself or for others of the type made by a mortgage company. 3/ (4/25/86) San Francisco San Diego Financial Corporation, San Diego, California — to engage de novo (discount securities brokerage activities including certain securities credit and incidental activities; underwriting and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state member banks are authorized to underwrite and deal) through SDT Discount Brokerage, Inc., San Diego, California. 3/ (4/23/86) San Francisco Security Pacific Corporation, Los Angeles, California — for approval to acquire 50 percent of the voting shares of Sumitrust Security Pacific Investment Managers, Inc., 1/ 3/ Application processed on behalf of the Board of Governors under delegated authority. Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1986, No. 17 11 ACTIONS OF THE BOARD - Continued and thereby enqage through a joint venture in providing investment or financial advisory services nationwide. (4/25/86) Approved Richmond Southern National Corporation, Lumberton, North Carolina — to acquire Southern International Corporation, Charlotte, North Carolina. 1/ (4/21/86) San Francisco Security Pacific Corporation, Los Angeles, California — for approval to acquire substantially all the assets of Bankline, Inc., Phoenix, Arizona and engage in data processing and data transmission activities. 1/ (4/23/86) Permitted New York Westpac Banking Corporation, Sydney, Australia — to engage de novo (providing portfolio investment advice to any person) through its subsidiary, American and Australian Portfolio Managers, Inc., New York, N ew York. 3/ (4/21/86) Cleveland National Bank of Western Pennsylvania's Employee Stock Ownership Plan, Berlin, Pennsylvania to engage de novo (underwriting credit life insurance on consumer loans) through Laurel Highland Life Insurance Company, Phoenix, Arizona. The activity will be conducted from the office of National Bank of Western Pennsylvania, located in Somerset and Fayette Counties of Southwestern Pennsylvania. 3/ *4/21/86) Kansas City Colorado National Rankshares, Inc., Denver, Colorado — to expand through its subsidiary, Colorado National Insurance Agency, Inc., Denver, Colorado, the geographic scope of its activity (selling credit life, disability, or involuntary unemployment insurance) to include Colorado National Bank - Longmont, Longmont, Colorado. 3/ (4/27/86) San Francisco The Mitsmi Bank, Limited, Tokyo, Japan — to engage de novo (engaging in the activities of a trust company of a fiduciary, agency, or custodial nature; providing portfolio 1/ 3/ Application processed on behalf of the Board of Governors under delegated authority. Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1986, No. 17 12 ACTIONS OF THE BOARD - Continued investment advice to any person; providing economic information and advice, statistical forecasting services, and industry studies) through Mitsui Finance Trust Company of Mew York, New York. 3/ (3/28/86) * * * * * Redemption of Shares Approved Kansas City Lyons Bankshares, (4/25/86) Kansas City Sunwest Financial Services, Inc., Albuquerque, New Mexico. 1/ (4/22/86) 1/ 3/ Inc., Topeka, Kansas. Application processed on behalf of the Board of G o v e r n o r s u n d e r d e l e g a t e d authority. 1/ N o ti f i c a t i o n p ro c e s s e d by R e se rv e Bank on b e h a lf o f th e B oard o f G overnors u n d e r d e le g a te d a u th o r ity . H. 2, 1986, No. 17 13 APPLICATIONS RECEIVED To Establish a Domestic Branch pursuant to Section 9 of the Federal Reserve Act Received Philadelphia Chicago Central Bank, Hollidaysburg, Pennsylvania — to establish a branch office to be located at 221 West High Street, Ebensburg, Pennsylvania. 2/ First of America Bank - Central, Lansing, Michigan — to establish an offsite electronic facility at 13393 N. US 27, DeWitt, Michigan. 2/ * * * * * To Merge Pursuant to Section 1 8 (c) of the Federal Deposit Insurance Act Received Cleveland The Central Trust Company, Newark, Ohio — merge with The Clear Creek Valley Banking Company, Amanda, Ohio. 2/ to Dallas New United Bank, College Station, Texas -- to merge with UnitedBank-College Station, N . A . , College Station, Texas. 2/ Dallas Ne w Overton Bank, Overton, Texas — to merge with First State Bank, Overton, Texas. 2/ Dallas Ne w Tanglewood Bank, Houston, Texas — to merge with Tanglewood Bank, N . A . , Houston, Texas. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3 ( a ) (1) of the Bank Holding Company Act of 1956 Received Cleveland 2/ Independent Community Banc Corp., Norwalk, Ohio — for approval to acquire 100 percent of the voting shares of The Citizens National Bank of Norwalk, Norwalk, Ohio. 2/ A p p l i c a t i o n s u b j e c t to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e Ban k m a y be c o n t a c t e d as to the length of the c o m m e n t period. H. 2, 1986, No. 17 14 APPLICATIONS RECEIVED - Continued Atlanta First Bank of Indiantown Holding Co., Indiantown, Florida — for approval to acquire 100 percent of the voting shares of First Bank of Indiantown, Florida. 2/ Atlanta IBT Bankshares, Inc., Gretna, Louisiana — for approval to acquire 100 percent of the voting shares of Investors Bank and Trust Company, Gretna, Louisiana. 2/ Chicago Community Financial Corp., Avilla, Indiana — for approval to acquire 80 percent of the voting shares of Community State Bank, Avilla, Indiana. 2/ Chicago The First State Bank of Thornton, Iowa Employee's Stock Ownership Plan and Trust, Thornton, Iowa — for approval to acquire 51 percent of the voting shares of Thornton Bancshares, Inc., Thornton, Iowa and indirectly acquire The First State Bank of Thornton, Thornton, Iowa. 2/ Chicago Parker — for voting Parker St. Louis Tyronza Bancshares, Tyronza, Arkansas — for approval to acquire at least 80 percent of the voting shares of Tyronza Bank, Tyronza, Arkansas. 2/ Minneapolis Graham Shares of Waverly, Inc., Waverly, Minnesota — for approval to acquire 100 percent of the voting shares of Citizens State Bank of Waverly, Waverly, Minnesota. Bank Holding Company, Muncie, Indiana approval to acquire 100 percent of the shares of The Parker Banking Company, City, Indiana. 2/ 2/ Kansas City Garden Plain Bancshares, Inc., Garden Plain, Kansas — for approval to acquire 80 percent or more of the voting shares of Garden Plain State Bank, Garden Plain, Kansas. 2/ Dallas Bandera Bancshares, Inc., Dallas, Texas — for approval to acquire 100 percent of the voting shares of Bandera Bank, Bandera, Texas, a proposed new bank. 2/ Dallas Sc.r, Diego Bancshares, 2/ Inc., San Diego, Texas A p p l i c a t i o n subject to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e B a n k m a y be c o n t a c t e d as to the length of the c o m m e n t period. H. 2, 1986, No. 17 15 APPLICATIONS RECEIVED - Continued — for approval to acquire 99.05 percent of the voting shares of First State Bank of San Diego, San Diego, Texas. 2/ San Francisco SPC Acquisition Inc., Phoenix, Arizona — for approval to acquire 100 percent of the voting shares of Arizona Bancwest Corporation, Phoenix, Arizonaand indirectly acquire the Arizona Bank, Phoenix, Arizona. 2/ * * * * * To Expand a Bank Holding Comp|any Pursuant to Section 3( a ) (3) of the Bank Holding Company Act of 1956 Received New York The Summit B a n c o r p o r a t i o n , Summit, New Jersey — for approval to acquire 100 percent of the voting shares of The Trust Company of Princeton, Princeton, N ew Jersey, a proposed new b a n k . 2/ Philadelphia Guaranty Bancshares Corporation, Shamokin, Pennsylvania — for approval to acquire 100 percent of the voting shares of First National Bank of Nicholson, Nicholson, Pennsylvania. 2/ Richmond One Valley Bancorp of West Virginia, Inc., Charleston, West Virginia — for approval to acquire 100 percent of the voting shares of Financial Management Bancshares of West Virginia, Inc., Morgantown, West Virginia and indirectly acquire Farmers' and Merchants Bank, Morgantown, West Virginia and First National Bank of Terra Alta, Terra Alta, West Virginia. 2/ Chicago Bellwood Bancorporation, Inc., Bellwood, Illinois -- for approval to acquire 60 percent or more of the voting shares of First National Bank of Wheaton, Wheaton, Illinois. 2/ Chicago First Colonial Bankshares Corporation, Chicago, Illinois — for approval to acquire 91.02 percent of the voting shares of Avenue Bancorporation, Oak Park, Illinois and indirectly acquire 86.3 percent of Avenue Bank and Trust Company of Oak Park, Oak Park, 2/ A p p l i c a t i o n s u b j e c t to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e B ank m a y be c o n t a c t e d as to the l e ngth of the c o m m e n t period. H. 2, 1986, No. 17 16 APPLICATIONS RECEIVED - Continued Illinois and to acquire 88 percent of the voting shares of Avenue Financial Corporation, Oak Park, Illinois and i n d i r e c t l y acquire 88.7 percent of Avenue Bank Northwest, Mile, Illinois; 94.5 percent of Avenue Bank of Elk Grove, Elk Grove Village, Illinois; and 98.1 percent of The Northlake Bank, Northlake, Illinois. 2/ Chicago Ogle County Bancshares, Inc., Rochelle, Illinois — for approval to acquire 10 percent of the voting shares of Leland National Bancorp, Inc., Leland, Illinois and indirectly acauire Leland National Bank, Leland, Illinois. 2/ Chicago Summcorp, Fort Wayne, Indiana — for approval to acquire 100 percent of the voting shares of the SBMT Kendallville Bank & Trust Company, Kendallville, Indiana. 2/ St. Louis Citizens Fidelity Corporation, Louisville, Kentucky — for approval to acquire 100 percent of the voting shares of Citizens Fidelity Bank and Trust Company Madison County, Richmond, Kentucky. 2/ St. Louis Citizens Fidelity Corporation, Louisville, Kentucky — for approval to acquire 100 percent of the voting shares of the SBMT Madison National Bank of Richmond, Richmond, Kentucky. 2/ Minneapolis Dakota Bankshares, Inc., Fargo, North Dakota — for approval to acquire 26.32 percent of the voting shares of Bankers Financial Corporation, Drake, North Dakota and indirectly acquire First Bank in Drake, Drake, North Dakota. Kansas City City Bankshares, Inc., Oklahoma City, Oklahoma — for approval to acquire 100 percent of the voting shares of Wilshire Bancshares, Inc., Oklahoma City, Oklahoma and indirectly Wilshire Bank, Oklahoma City, Oklahoma. 2/ Dallas Fxtraco Bankshares, Inc., Temple, Texas — for approval to acquire 100 percent of the voting shares of Texana Bank, N.A., Waco, Texas. 2/ 2/ A p p l i c a t i o n subject to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e Bank m a y be c o n t a c t e d as to the leng t h of the c o m m e n t period. H. 2, 1986, No. 17 17 APPLICATIONS RECEIVED - Continued Dallas Southwest Bankers, Inc., San Antonio, Texas — for approval to acquire 80 percent of the voting shares of Bank of San Antonio/Medial Center, San Antonio, Texas, a proposed new bank. 2/ Dallas United City Corporation, Plano, Texas — for approval to acquire 100 percent of the voting shares of City National Bank of Irving, Irving, Texas, a proposed new bank. 2/ San Francisco Security Pacific Corporation, Los Angeles, California — for approval to acquire 100 percent of the voting shares of Arizona Bancwest Corporation, Phoenix, Arizona and indirectly acquire the Bank of Arizona, Phoenix, Arizona. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 4 ( c ) (8) of the Bank Holding Company Act of 1956 Received Boston Central Financial Corporation, Randolph, Vermont — to engage de novo (providing management consulting services to depository institutions). The activity would be conducted in Vermont. (4/25/86) Boston Fleet Financial Group, Inc., Providence, Rhode Island — to engage de novo (underwriting credit life and disability insurance on consumer loans) through Consumer Life Insurance Company. The activity would be conducted in the States of Alabama, Colorado, Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Oklahoma, Utah, Wisconsin. (4/22/86) Chicago Illinois Development Corporation, Chicago, Illinois — engage de novo (engaging in community development activities) through its subsidiary, TNI Development Corporation, Chicago, Illinois. (4/22/86) Chicago Keystone Bancshares, Inc., Monana, Iowa — to engage de novo in lending activities for the purpose of purchasing loans from its subsidiary, Peoples State Bank, Elkader, 2/ A p p l i c a t i o n s ubject to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e Re s e r v e Ban k m a y be c o n t a c t e d as to the length of the co m m e n t period. H. 2, 1986, No. 17 18 APPLICATIONS RECEIVED - Continued Iowa, its affiliate, Union State Bank, Monana, Iowa and its correspondent banks, The National Bank of Waterloo, Waterloo, Iowa and The Marquette National Bank of Minneapolis, Minneapolis, Minnesota. Chicago Summcorp, Fort Wayne, Indiana — to engage de novo (discount securities brokerage activities including certain securities credit and incidental activities) through its subsidiary, Summcorp Financial Services, Inc., Fort Wayne, Indiana. The geographic area to be served will be in the entire United States. (4/24/86) St. Louis First Corporation, Henderson, Kentucky — to engage de novo (selling credit life, disability, or involuntary unemployment insurance) through its subsidiary, Peoples First Security Finance C o . , I n c . , Madisonville, Kentucky. (4/25/86) Minneapolis Dakota Bankshares, Inc., Fargo, North Dakota — for approval to acquire Dakota First Trust Company, Fargo, North Dakota and thereby engage in activities that may be performed by a trust company. Minneapolis Norwest Corporation, Minneapolis, Minnesota — for approval to acquire the assets of McKinney Wudel Insurance Service, Rapid City, South Dakota. 2/ Kansas City On H.2, No. 14 for the week ending April 5, 1986, Nebraska National Corporation, Omaha, Nebraska — to engage de n o v o . The activity read, engaging in insurance agency activities in a town of less than 5,000 persons, it should have read, engaging in insurance agency activities if the bank holding company has $50 million or less in total consolidated assets. Dallas Ameritex Bancshares Corporation, Dallas, Texas — to engage de novo (providing to others financially related data processing and data transmission services, facilities, and data basis; or access to them) through the acquisition of Ameritex Service Corporation, Dallas, Texas. (4/24/86) 2/ A p p l i c a t i o n s ubject to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e B a n k m a y be c o n t a c t e d as to the length of the c o m m e n t period. H. 2, 1986, No. 17 19 APPLICATIONS RECEIVED - Continued San Francisco Security Pacific Corporation, Los Angeles, California — for approval to acquire Bancwest Life Insurance Company, Phoenix, Arizona; Eancwest Insurance Agency, Inc., Phoenix, Arizona; and Bancwest Financial Services C o m p a n y , Phoenix, Arizona. San Francisco SPC Acquisition Inc., Phoenix, Arizona — for approval to accraire Bancwest Life Insurance Company, Phoenix, Arizona; Bancwest Insurance Agency, Inc., Phoenix, Arizona; and Bancwest Financial Services Company, Phoenix, Arizona. San Francisco Zions Utah B a n c o r p o r a t i o n , Salt Lake City, Utah -- to expand the geographic area served by Zions Mortgage Company, Salt Lake City, Utah, to now include the entire United States, and to continue to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage c o m p a n y ) . (4/21/86) 2/ A p p l i c a t i o n su b j e c t to C o m m u n i t y R e i n v e s t m e n t Act. The C o m m u n i t y A f f a i r s O f f i c e r of the a p p l i c a b l e R e s e r v e B ank m a y be c o n t a c t e d as to the l e n g t h of the c o m m e n t period.
@FedFRASER