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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
H.2, 1987, No. 14
Actions of the Board
Applications and Reports Received
During the Week Ending April 3, 1987
Announcement of approval of a proposal to
allow Federal Reserve Banks to offer a
redeposit service for low-dollar checks that
have been returned unpaid, and delegation of
authority to the Board's Director of Division
of Federal Reserve Bank Operations to approve
additional service features.
Announcement of reductions in portions of
the fee structure for the federal agency
book-entry securities service, effective
May 1, 1987.
Adoption of final change to the official
staff commentaries to the Board's Regulations
B (Equal Credit Opportunity), E (Electronic
Fund Transfers), and Z (Truth in Lending).
Secretary

ABI Interim National Bank, Alameda,
California — proposed merger with Community
First National Bank, Pleasanton, California
— report to the Comptroller of the Currency
on competitive factors.
1/

Boston

The Savings Bank of Newport, Newport, Rhode
Island — proposed acquisition of assets and
assumption of deposit liabilities of Newport
County Trust Company — report to the Federal
Deposit Insurance Corporation on competitive
factors.
1/

Boston

The Family Mutual Savings Bank, Haverhill,
Massachusetts — proposed acquisition of the
Georgetown, Massachusetts, office of The
First National Bank of Boston, Boston,
Massachusetts -- report to the Federal
Deposit Insurance Corporation on competitive
factors.
1/

1/

Application processed on behalf
under delegated authority.




of t h e B o a r d of G o v e r n o r s

H.2, 1987, No. 14

2

ACTIONS OF THE BOARD - Continued
Philadelphia

The First National Bank of Lancaster County,
Lancaster, Pennsylvania — proposed merger
with Interim Bank of Lancaster County under
the new title of Bank of Lancaster County,
N.A., — report to the Comptroller of the
Currency on competitive factors.
1/

Philadelphia

The Honesdale National Bank, Honesdale,
Pennsylvania — proposed merger with The
Interim Honesdale National Bank — report to
the Comptroller of the Currency on
competitive factors.
1/

Philadelphia

Bankers Financial Services Corporation,
Schuylkill Haven, Pennsylvania — extension
to acquire The" Schuylkill Haven Trust
Company. 1/

Richmond

Credit and Commerce American Holdings, N. V . ,
Curacao, Netherlands Antilles; Credit and
Commerce American Investments, B.V . ,
Amsterdam, Netherlands; First American
Corporation, Washington, D.C.; and First
American Bankshares, Inc., Washington, D.C.
— extension to July 1, 1987, to engage de
novo in insurance underwriting activities
through Potomac Insurance Company, Phoenix,
Arizona.
1/

Richmond

City Holding Company, Charleston, West
Virginia -- extension to June 5, 1987, to
acquire The Peoples Bank of Point Pleasant,
Point Pleasant, West Virginia.
1/

Richmond

Highlands Bankshares, Inc., Petersburg, West
Virginia — extension to July 9, 1987, to
acquire Capon Valley Bank, Wardensville, West
Virginia.
1/

Atlanta

First Suncoast Trust Bancshares, Inc.,
Atmore, Alabama — extension to June 24,
1987, to become a bank holding company
through acquisition of The First National
Bank of Atmore.
1/

Atlanta

First Citizens Bank, Luverne, Alabama —
proposed merger with Crenshaw Interim Bank —
report to the Federal Deposit Insurance
Corporation on competitive factors.
1/

1/

Application processed on behalf
under delegated authority.




o f t h e B o a r d of G o v e r n o r s

H. 2, 1987, No. 14

3

ACTIONS OF THE BOARD - Continued
Chicago

Wayne Bank, Wayne, Michigan —
bank premises.
1/

Chicago

First Interstate Bank of Green Valley, Green
Valley, Wisconsin — proposed merger with
State Bank of Green Valley — report to the
Federal Deposit Insurance Corporation on
competitive factors.
1/

Chicago

Unibancorp, Inc., Chicago, Illinois —
extension to July 5, 1987, to acquire shares
of DuPage County Bank of Glendale Heights,
Glendale Heights, Illinois.
1/

St. Louis

Greensburg Acquisition Bank, Inc.,
Greensburg, Kentucky — proposed merger with
Greensburg Deposit Bank, Inc., — report to
the Federal Deposit Insurance Corporation on
competitive factors.
1/

St. Louis

Mark Twain Interim Illinois Bank, Belleville,
Illinois -- proposed merger with Bankers
Trust Company — report to the Federal
Deposit Insurance Corporation on competitive
factors.
1/

St. Louis

Fort Knox National Bank, Fort Knox, Kentucky
— proposed purchase of the Fort Leonard Wood
Branch, Pulaski County, Missouri, of The
Boatmen's National Bank of St. Louis, St.
Louis, Missouri.
1/

Minneapolis

Houghton Financial, Inc., Houghton, Michigan
— extension to June 29, 1987, to acquire
Houghton National Bank.
1/

Kansas City

Scottsbluff National Bank and Trust Company,
Scottsbluff, Nebraska — proposed merger with
Western National Bank of Scottsbluff -report to the Comptroller of the Currency on
competitive factors.
1/

Kansas City

Stroud Bancorp, Inc., Stroud, Oklahoma —
extension to May 14, 1987, to acquire Stroud
National Bank.
1/

Dallas

Schreiner Bancshares, Inc., Kerrville, Texas
— extension to June 15, 1987 to acquire Fair
Oaks National Bank, Fair Oaks, Texas.
1/

1/

A p p l i c a t i o n p r o c e s s e d on behalf
under delegated authority.




of

investment in

t h e B o a r d of G o v e r n o r s

H.2, 1987, No. 14

4

ACTIONS OF THE BOARD - Continued
Dallas

Fairfield Financial Corporation, Fairfield,
Texas — extension to April 30, 1987, to
acquire First Fairfield Bankshares, Inc., and
First National Bank.
1/

San Francisco

BankAmerica Corporation, San Francisco,
California — extension to dispose of certain
properties.
1/

San Francisco

Western Security Interim Bank, N . A . , Burbank,
California — proposed merger with Western
Security Bank, N.A . , — report to the
Comptroller of the Currency on competitive
factors.
1/

* * * * *
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act

Approved
Cleveland

The Citizens Savings Bank Company,
Pemberville, Ohio — to establish a branch at
102 West Crocker Street, Bradner, Ohio.
1/
(4/2/87)
* * * * *

To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956

Withdrawn
Atlanta

Pacific Bankshares, N.V., Netherland Antilles
— for approval to acquire 49.8 percent of
the voting shares Pacific National Bank,
Miami, Florida.
1/
(3/27/87)

Minneapolis

Con-West, Inc., Billings, Montana — for
approval to acquire 80 percent of the voting
shares of Security State Bank of Glendive,
Glendive, Montana.
1/ (4/1/87)*
* * * * *

1/

Application processed on behalf
under delegated authority.




of t h e B o a r d o f G o v e r n o r s

H.2, 1987, No. 14

5

ACTIONS OP THE BOARD - Continued
Approved
Richmond

Bank of Granite Corporation, Granite
Falls, North Carolina — for approval to
acquire 100 percent of the voting shares of
Bank of Granite, Granite Falls, North
Carolina.
If (3/30/87)

Minneapolis

First State Bank of Miller Profit Sharing
Trust No. 1, Miller, South Dakota — for
approval to acquire 50 percent of the voting
shares of M&H Financial Services, Inc.,
Miller, South Dakota and indirectly First
State Bank of Highmore, Highmore, South
Dakota.
1/
(3/31/87)

Minneapolis

M&H Financial Services, Inc., Miller, South
Dakota — for approval to acquire 100 percent
of the voting shares of First State Bank,
Highmore, South Dakota.
1/
(3/31/87)

Minneapolis

State Bank of Lake Elmo Employee Stock
Ownership Plan and Trust, Lake Elmo,
Minnesota — for approval to acquire 45.3
percent of the voting shares of Lake Elmo
Bancorp., Inc., Lake Elmo, Minnesota and
indirectly State Bank of Lake Elmo, Lake
Elmo, Minnesota.
1/
(3/31/87)

Kansas City

SW Financial Corporation, Albuquerque, New
Mexico — for approval to acquire 100 percent
of the voting shares of Sunwest Bank of
Roswell, N.A., Roswell, Sunwest Bank of Las
Cruces, N. A . , Las Cruces; and Sunwest Bank of
Great County, Silver City, New Mexico.
(4/3/87)
* * * * *

To Expand a Bank Holding Company Pursuant to
Section 3(a)(3) of the Bank Holding
Company Act of 1956
Withdrawn
Dallas

1/

AmeriGroup Financial Corportion, Houston,
Texas — for approval to acquire 100 percent
of the voting shares of Ameriway
Bank/Woodway, N. A . , Houston, Texas.
(4/2/87)

Application processed on behalf
under delegated authority.




of t h e B o a r d of G o v e r n o r

H.2, 1987, No. 14

6

ACTIONS OF THE BOARD - Continued
Returned
Chicago

Traer Shares, Inc., Traer, Iowa — for
approval to acquire 100 percent of the voting
shares of Kupka's Inc., Traer, Iowa and
indirectly First Community Bank and Trust,
Traer, Iowa and First National Bank of Tama
County, Dysart, lov/a.
(3/30/87)

Dallas

Amador Bancshares, Inc., Las Cruces, New
Mexico — for approval to acquire 100 percent
of the voting shares of Western Bank, Santa
Fe, Santa Fe, New Mexico and Western Bank,
Taos, New Mexico.
(4/2/87)
* * * * *

Approved
Boston

Bank of New Hampshire Corporation,
Manchester, New Hampshire -- for approval to
acquire 100 percent of the voting shares of
Bank of New Hampshire-Portsmouth, Portsmouth,
New Hampshire, a proposed new bank.
1/
(4/3/87)

Boston

Saban S.A., Panama City, Republic of Panama,
and Republic New York Corporation, New York,
New York — for approval to acquire 100
percent of the voting shares of New WSB
Savings Bank, New York, New York, a stock
savings bank in organization that will be the
successor by merger to The Williamsburgh
Savings Bank, Brooklyn, New York.
(3/30/87)

Chicago

Citizens Banking Corporation, Flint, Michigan
— for approval to acquire 100 percent of the
voting shares of Commercial National Bank of
Berwyn, Berwyn, Illinois.
1/
(4/1/87)

Kansas City

Sunwest Financial Services, Inc.,
Albuquerque, New Mexico — for approval to
acquire Rio Grande Bancshares, Inc., Las
Cruces, New Mexico, and indirectly First
National Bank of Dona Ana County, Las Cruces,
New Mexico; First National Bank of Chaves
County, Roswell, New Mexico; and First State
Bank of Silver City, Silver City, New Mexico.
(4/3/87)

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 o f t h e B o a r d
under delegated authority.




of G o v e r n o r s

H. 2 f 1987, No.

14

7

ACTIONS OF THE BOARD - Continued
Dallas

First Lubbock Bancshares, Inc., Lubbock,
Texas — for approval to acquire 21.19
percent of the voting shares of First Borger
Bancshares, Inc., Lubbock, Texas and
indirectly First National Bank of Borger,
Borger, Borger, Texas.
1/
(3/31/87)

Dallas

First Lubbock Bancshares, Inc., Lubbock,
Texas — for approval to acquire 21.19
percent of the voting shares of Denver City
Bancshares, Inc., Denver City, Texas and
indirectly Yoakum County State Bank, Denver
City, Texas.
1/
(3/31/87)

Dallas

First Lubbock Bancshares, Inc., Lubbock,
Texas — for approval to acquire 21.19
percent of the voting shares of Lubbock
Bancorporation, Inc., Lubbock, Texas and
indirectly Bank of The West, Lubbock, Texas.
1/
(3/31/87)

Dallas

First Lubbock Bancshares, Inc., Lubbock,
Texas — for approval to acquire 21.19
percent of the voting shares of Plainview
First National Bancshares, Inc., Plainview,
Texas and indirectly First National Bank of
Plainview, Plainview, Texas.
1/
(3/31/87)

Dallas

First Lubbock Bancshares, Inc., Lubbock,
Texas — for approval to acquire 100 percent
of the voting shares of West Texas
Bancorporation, Inc., Post, Texas and
indirectly First National Bank of Post, Pest,
Texas.
1/
(3/31/87)
* * * * *

To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Approved
Richmond

1/

Dominion Bankshares Corporation, Roanoke,
Virginia — for approval to merge with First
National Financial Corporation, Clarksville,
Tennessee and indirectly acquire The First
National Bank of Clarksville, Clarksville,
Tennessee.
1/
(4/1/87)

Application processed on behalf
under delegated authority.




of t h e B o a r d

of G o v e r n o r s

H.2, 1987, No. 14

8

ACTIONS OF THE BOARD - Continued
Kansas City

SW Financial Corporation, Albuquerque, New
Mexico -- for approval to acquire 100 percent
of the voting shares of Sunwest Bank of
Roswell, N.A . , Rosewell; Sunwest Bank of Las
Cruces, N.A . , Las Cruces; and Sunwest Bank of
Grant Countv Silver City, New Mexico.
(4/3/87)
* * * * *

To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Returned
Dallas

Austin County Bankshares, Inc., Bellville,
Texas — to engage de novo (making, acquiring
and/or servicing loans for itself or for
others of the type made by a mortgage
company? consumer finance company). 3/
(3/27/87)

San Francisco

Learner Financial Corporation, Orinda,
California — to engage de novo (providing to
others financially related data processing
and data transmission services, facilities,
and data bases? or access to them) through
Learner Financial Corporation Information
Systems Division, Walnut Creek, California.
The activity would be conducted throughout
California.
3/
(4/3/87)
* * * * * *
Approved

Cleveland

Banc One Corporation, Columbus, Ohio — for
approval to acquire Worthington Leasing
Corporation, Worthington, Ohio and thereby
engage in leasing activities.
1/
(3/31/87)
* * * * *

1/

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

3/

Notification processed by Reserve Bank on behalf
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 a u t h o r i t y .




of t h e

H.2, 1987, No. 14

9

ACTIONS OF THE BOARD - Continued
Permitted
Cleveland

Citizens Bancshares, Incorporated,
Salineville, Ohio — to engage de novo
(underwriting credit life and disability
insurance on consumer loans) through Freedom
Financial Life Insurance Company, Phoenix,
Arizona.
The activities will be conducted
from the offices at 66 East Main Street,
Salineville, Ohio.
3/
(3/29/87)

Richmond

United Financial Banking Companies, Inc.,
Vienna, Virginia — to engage de novo
(making, acquiring and/or servicing loans for
itself or for others of the type made by a
mortgage company; acting as an intermediary
for the financing of commercial or industrial
income-producing real estate equities)
through the acquisition of Gerard F. Holcomb
& Company, Inc., Washington, D.C.
3/
(4/2/87)

Richmond

United Financial Banking Companies, Inc.,
Vienna, Virginia — to engage de novo
(making, acquiring and/or servicing loans for
itself or for others of the type made by a
mortgage company; acting as an intermediary
for the financing of commercial or industrial
income-producing real estate equities)
through the acquisition of Potomac Mortgage
Bankers Corporation, Alexandria, Virginia.
3/
(4/2/87)

Atlanta

Golden Summit Corporation, Milton, Florida —
to engage de novo (selling credit life,
disability, or involuntary unemployment
insurance). These activities will be
conducted throughout the United States 3/
(4/2/87)

Atlanta

SunTrust Banks, Inc., Atlanta, Georgia — to
engage de novo (providing financial advisory
services to issuers of municipal securities
and to assist in the structuring of new
issues of such securities) through SunTrust
Securities, Inc., Atlanta, Georgia.
3/
(4/1/87)

3/




N o t i f i c a t i o n p r o c e s s e d by Rese r v e Bank on behalf
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 a u t h o r i t y .

of the

H.2, 1987, No. 14

10

ACTIONS OF THE BOARD - Continued
Kansas City

Dean Holbein and Associates, Inc., Lincoln,
Nebraska — to engage de novo (engaging in
insurance agency activities in a town of less
than 5,000 persons) through Security State
Agency, Inc., Holbrook, Nebraska.
3/
(4/3/87)

San Francisco

Valley West Bancorp, Eugene, Oregon — to
engage de novo (making, acquiring and/or
servicing loans for itself or for others of
the type made by a mortgage company) through
its subsidiary, Centennial Mortgage Co., Inc.,
Eugene, Oregon.
3/
(4/4/87)
*

*

*

*

*

Redemption of Shares
The First of Brownfield Corporation,
Brownfield, Texas.
1/
(4/3/87)

Dallas

*

*

*

*

*

Issued Intent Not to Disapprove Change of Control
Pursuant to Change in Bank Control Act of 1978
Approved
Chicago

Blanchardville Financial Services, Inc.,
Blanchardville, Wisconsin.
1/
(4/3/87)

Chicago

Morningside Development Company, Sioux City,
Iowa.
1/
(3/31/87)

Minneapolis

First Rushmore Bancshares, Inc., Rushmore,
Minnesota.
1/
(4/1/87)

K a nsas.City

Parker Bankshares, Incorporated, Parker
Colorado.
1/
(4/1/87)

Dallas

Southwest Bank - Garland, Garland, Texas/
(3/30/87)

1/

1/

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

3/

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




H.2, 1987, No. 14

11

APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Received
Cleveland

Bank of Gassaway, Gassaway, West Virginia —
to establish an Electronic Funds Transfer
Facility within the Kroger Store located at
1125 State Street, Gassaway, West Virginia.
2/

Chicago

Tri-County Bank, Brown City, Michigan -- to
establish a branch at the south west corner
of Fairgrounds Road and Newark Road, Imlay
City, Michigan.
2/

San Francisco

First Interstate Bank of California, Los
Angeles, California -- application made for
branch office at 3426 American River Drive,
City and County of Sacramento, California.
2/
*

*

*

*

*

To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Received
Richmond

Commercial and Farmers Bank, Ellicott City,
Maryland.
2/
*

*

*

*

*

To Form a Bank Holding Company Pursuant to Section
3( a ) (1) of the Bank Holding Company Act of 1956
Received
Cleveland

2/




First Grayson Bancorp, Inc., Grayson,
Kentucky — for approval to acquire 100
percent of the voting shares of The First
National Bank of Grayson, Grayson, Kentucky.
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, 1987, No. 14

12

APPLICATIONS RECEIVED - Continued
Atlanta

Atico Financial Corporation, Miami, Florida
— for approval to acquire 99.2 percent of
the voting shares of Atico Savings Bank,
Miami, Florida (formerly Peninsula Federal
Savings and Loan Association), and 93.5
percent of the voting shares of
Intercontinental Bank, Miami, Florida.
2/

Chicago

EMF Corporation, Blue Grass, Iowa -- for
approval to acquire 51 percent of the voting
shares of Blue Grass Savings Bank, Blue
Grass, Iowa.
2/

St. Louis

Wyatt Bancshares, Inc., Calico Rock, Arkansas
— for approval to acquire 100 percent of the
voting shares of The First National Bank of
Izard County, Calico Rock, Arkansas.
2/

Minneapolis

Baron II Bancshares, Inc., White Bear Lake,
Minnesota — for approval to acquire 95.5
percent of the voting shares of Security
State Bank of Deer Creek, Deer Creek,
Minnesota.
2/

Minneapolis

Cando Holding Company, Inc., Cando, North
Dakota — for approval to acquire 100 percent
of the voting shares of The First Bank Cando,
N.A., Cando, North Dakota.
2/

Minneapolis

Market Bancorporation, Inc., New Market,
Minnesota — for approval to acquire 83
percent of the voting shares of First State
Bank of New Market, New Market, Minnesota.
2/

Dallas

The First National Bankshares, Inc.,
Tucumcari, New Mexico — for approval to
acquire 100 percent of the voting shares of
The First National Bank of Santa Rosa, Santa
Rosa, New Mexico and The First National Bank
in Tucumcari, Tucumcari, New Mexico.
2/

San Francisco

Americorp, Ventura, California — for
approval to acquire 100 percent of the voting
shares of American Commercial Bank, Ventura,
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, 1987, No. 14

13

APPLICATIONS RECEIVED - Continued
To Expand a Bank Holding Company Pursuant to Section
3( a ) (3) of the Bank Holding Company Act of 1956
Received
Philadelphia

Commonwealth Bancshares Corporation,
Williamsport, Pennsylvania — for approval to
acquire 100 percent of the voting shares of
First Bank of Troy, Troy, Pennsylvania.
2/

Cleveland

American Bancorporation, Wheeling, West
Virginia -- for approval to acquire 100
percent of the voting shares of Citizens
National Bank Flushing-St. Clairsville, St.
Clairsville, Ohio.
2/

Atlanta

Gulf & Southern Financial Corporation, Fort
Myers, Florida — for approval to acquire 100
percent of the voting shares of Community
National Bank of Sarasota County, Venice,
Florida, a proposed new bank.
2/

Atlanta

SouthTrust Corporation, Birmingham, Alabama
— for approval to acquire 80 percent of the
voting shares of Bank of Pensacola,
Pensacola, Florida.
2/

Chicago

First of America Bank Corporation, Kalamazoo,
Michigan and First of America BancorporationIllinois, Inc., Libertyville, Illinois — for
approval to acquire BancServe Group, Inc.,
Rockford, Illinois and indirectly City
National Bank & Trust Company of Rockford,
Rockford, Illinois and Boone State Bank,
Belvidere, Illinois.
2/

Chicago

NBD Bancorp, Inc., Detroit, Michigan — for
approval to acquire 100 percent of the voting
shares of NBD Battle Creek National
Association, Battle Creek, Michigan.
2/

St. Louis

Mark Twain Bancshares, Inc., St. Louis,
Missouri — for approval to acquire at least
87 percent of the voting shares of
Edwardsville National Bank and Trust Company,
Edwardsville, 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, 1987, No. 14

14

APPLICATIONS RECEIVED - Continued
Kansas City

Omnibancorp, Denver, Colorado — for approval
to acquire 35.4 percent of the voting shares
of C.C.B., Inc., Denver, Colorado; New
Central Colorado Company, Denver, Colorado;
and Central Bancorporation, Inc., Denver,
Colorado; and indirectly First National Bank
in Aspen, Aspen, Colorado, Central Bank of
East Aurora, N.A., Aurora, Colorado Central
Bank of Aurora, Aurora, Colorado; Central
Bank of Broomfield, Broomfield, Colorado;
Central Bank of Academy Boulevard; Colorado
Springs, Colorado; Central Bank of Garden of
the Gods, N.A., Colorado Springs, Colorado;
Central Bank of Chapel Hills, N.A., Colorado
Springs, Colorado; First National Bank in
Craig, Craig, Colorado; Central Bank of
Denver, Denver, Colorado; Central Bank of
North Denver, Denver, Colorado; Central Bank
of Inverness, N.A., Englewood, Colorado;
First National Bank of Glenwood Springs,
Glenwood Springs, Colorado; First National
Bank in Grand Junction, Grand Junction,
Colorado; Centreil Bank of Greeley, West
Greeley, Colorado; Central Bank of Chatfield,
Littleton, Colorado; Central Bank of
Centennial, N.A., Littleton, Colorado;
Central Bank of Pueblo, N.A., Pueblo,
Colorado; Rocky Ford National Bank, Rock
Ford, Colorado, and Central Bank of
Westminster, N.A., Westminster, Colorado.
2/
* * * * *

To Expand a Bank Holding Company Pursuant to Section
3(a) (5) of the Bank Holding Company Act of 1936
Received
Philadelphia

Commonwealth Bancshares Corporation,
Williamsport, Pennsylvania — for approval to
merge with County Bancorp, Inc., Montrose,
Pennsylvania and indirectly acquire County
National Bank of Montrose, Montrose,
Pennsylvania.
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, 1987, No. 14

15

APPLICATIONS RECEIVED - Continued
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Received
New York

Citicorp, New York, New York — for approval
to acquire, indirectly through its
wholly-owned subsidiary, Citicorp Savings, a
Federal Savings and Loan Association, 50
branch offices of Sears Savings Bank,
Glendale, California, a California Chartered
savings and loan association.

Richmond

Carolina Mountain Holding Company, Highlands,
North Carolina — to engage de novo (making,
acquiring and/or servicing loans for itself
or for others of the type made by a mortgage
company) through its subsidiary, CM Mortgage,
Inc., Highlands, North Carolina.
The
activity would be conducted in the State of
North Carolina.
(4/1/87)

Atlanta

Atico Financial Corporation, Miami, Florida
— for approval to acquire Pan American
Mortgage Corp., Miami, Florida and thereby
engage in making and servicing commercial and
residential loans.

Atlanta

Hardwick Holding Company, Dalton, Georgia —
to engage de novo (providing to others
financially related data processing and data
transmission services, facilities, and data
bases; or access to them) through its
subsidiary, Hardwick Service Corporation,
Dalton, Georgia.
The activities will be
conducted in the State of Georgia.
(4/3/87)

Chicago

First of America Bank Corporation, Kalamazoo,
Michigan and First of America Bancorporation
-Illinois, Inc., Libertyville, Illinois —
for approval to acquire BancServe Credit Life
Insurance Company, Rockford, Illinois and
thereby engage in underwriting credit,
accident and health insurance which is
directly related to an extension of credit.




H.2, 1987, No. 14

16

APPLICATIONS RECEIVED - Continued
St. Louis

West Tennessee Bancshares, Inc., Bartlett,
Tennessee — to engage de novo (discount
securities brokerage activities including
certain securities credit and incidental
activities) through Bartlett Securities
Corporation, Bartlett, Tennessee.
(3/30/87)

Kansas City

O'Neil Properties, Inc., Minneapolis,
Minnesota — to continue to engage de novo
(engaging in insurance agency activities in a
town of less than 5,000 persons) through the
acquisition of Meierhenry Agency, Inc.,
O'Neil, Nebraska.
(4/3/87)

Kansas City

Omnibancorp, Denver, Colorado — for approval
to acquire Central Bancorp Life Insurance
Company, Denver, Colorado and thereby engage
in underwriting life, accident, and health
insurance directly related to extensions of
credit by the subsidiaries of C.C.B., Inc.

Dallas

Schreiner Bancshares, Inc., Kerrville, Texas
— to engage de novo (making, acquiring
and/or servicing loans for itself or for
others of the type made by a mortgage
company) through the acquisition of Schreiner
Financial Corporation, Kerrville, Texas.
(4/7/87)

San Francisco

BankAmerica Corporation, San Francisco,
California — to engage de novo, directly or
indirectly through one or more of its
subsidiaries, in the issuance and sale of
general purpose variably denominated payment
instruments with maximum face values up to
$ 1 0 ,0 0 0 .




* * * * *
Agreements Filed Pursuant to Section 8 of the
Securities Exchange Act of 1934
The Yasuda Trust & Banking Company, Ltd. has
filed an agreement with the Federal Reserve
Bank of San Francisco (which is authorized to
accept such agreements on behalf of the Board
of Governors under delegated authority),
undertaking to comply with all provisions
which relate to the use of credit to finance
transactions in securities.