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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1979 No. 14)
Actions of the Board? Applications and Reports
Received During the Week Ending April 7, 1979
ACTIONS OF TOE BOARD
Statement by Governor Philip E. Coldwell before the
Domestic Monetary Policy Subcommittee of the House
Banking Committee on proposed legislation dealing with
the public release of Federal Open Market Committee
minutes, the terms of office of the Chairman and Vice
Chairman of the Board, and an increase in the number
of directors at the Federal Reserve Banks.
The Federal regulators of financial institutions proposed a series of measures designed to help individuals
obtain a higher rate of return on their savings;
public comment invited.
The Federal Reserve Board has extended until May 18 the
period for public comment on a proposal from the New
York Clearing House Association to establish International Banking Facilities.
Virgil J. Mattingly, Assistant General Counsel, appointment of new position announced.
Gilbert T. Schwartz, Assistant General Counsel, appointment of new position announced.
CB&T Bancshares, Inc., Coluntous, Georgia, extension of
time to July 22, 1979, within which to acquire Security
Bank and Trust Company of Albany, Albany, Georgia. 1/
First Corporation, Henderson, Kentucky, extension of time
to July 29, 1979, within which to become a bank holding
company through acquisition of First National Bank of
Henderson, Henderson, Kentucky, and to acquire Peoples
Security Finance Company, Inc., and Peoples Security
Investment, Inc., both located in Madisonville, Kentucky,
which are engaged in consumer lending activities and
the sale of credit related insurance. 1/
First National Agency, Inc., Wayne, Nebraska, extension
of time to July 6, 1979, within which it may consummate
the acquisition of First Savings Conpany, Wayne,
Nebraska. 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1979 No. 14
- 2 ACTIONS OF THE BQARD-Continued
HICKORY BANCORP., INC.f Chicago, Illinois, extension of
time to June 30, 1979, within which to beccms a bank
holding conpany through the acquisition of 80 per cent
or more of the voting shares of Bank of Hickory Hills,
Hickory Hills, Illinois. 1/
Farmers Loan and Trust Company, Tipton, Indiana, to make
an investment in bank premises. 1/
Manufacturers Hanover Trust Company, New York, New York,
to make an additional investment in bank premises. 1/
Marshall & I Is ley Bank, Milwaukee, Wisconsin, to make an
investment in bank premises. 1/
First State Bank, Gould, Oklahoma, extension of time to
October 4, 1979, within which to terminate its membership in the Federal Reserve System. 1/
First Marine National Bank and Trust Company of Lake Worth,
Lake Worth, Florida and First Marine National Bank &
Trust Company, Jupiter/Tequesta, Tequesta, Florida,
proposed merger with First Marine Bank & Trust Company
of the Palm Beaches, Riviera Beach, Florida; report to
the Federal Deposit Insurance Corporation on competitive
factors. 1/
Peoples Bank of South Jersey, Clayton, New Jersey, proposed acquisition by Peoples Bank of South Jersey (in
organization), Clayton, New Jersey; report to the
Federal Deposit Insurance Corporation on competitive
factors. 1/
Seattle Trust & Savings Bank, Seattle, Washington, waiver
of the six-month waiting period within which to withdraw
from membership in the Federal Reserve System. 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
— 3—
H.2, 1979 No. 14
ACTIONS OF THE BQARD-Ccntinued
To Establish a Domestic Branch Pursuant to Section 9
of the Federal Reserve Act
Approved
The Cleveland Trust Company, Cleveland, Ohio. Branch to
be established in the Solon Square Shopping Center,
Solon, Cuyahoga County. 1/ & 2/
Farmers Loan and Trust Company, Tipton, Indiana. Branch
to be established at 122 East Jefferson Street, Tipton.
1/ & 2/
Farmers and Merchants Bank of Long Beach, Long Beach,
California. Branch to be established in the Memorial
Hospital Medical Center, 2801 Atlantic Avenue, Long
Beach. 1/ & 2/
* * * * *
To Merge Pursuant to Section 18(c) of the Federal Deposit
Insurance Act
Approved
Commercial Trust Company of New Jersey, Jersey City, New
Jersey, for prior approval to merge Community State
Bank and Trust Company, Linden, New Jersey. 1/ & 2/
* * * * *
To Become a Member of the Federal Reserve System Pursuant
to Section 9 of the Federal Reserve Act
Approved
Valley Bank and Trust Company, Bluefield, West Virginia.
1/ & 2/
*
*
*
*
*
To Withdraw from Membership in the Federal Reserve System
without a Six-Month Notice as Prescribed by Section 9
of the Federal Reserve Act
Denied
Seattle Trust & Savings Bank, Seattle, Washington. 1/
17 Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.
a
- 4 -
H.2, 1979 No. 14
ACTIONS OF THE BQARD-Continued
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
Chemco International Leasing, Inc., New York, New York:
consent to purchase and hold, directly or indirectly,
all the shares of Chemco Leasing Belgium S.A./N.V.,
Brussels, Belgium.
Citibank, N.A., New York, New York: consent to continue
to hold the shares of Citibank-Maghreb, Casablanca,
Morocco.
The Daiwa Bank Limited, Osaka, Japan: grants an extension of time to divest shares in Sanyo Securities Company Limited, Tokyo, Japan.
North American International Corporation, New York, New
York: grants permission to amend Articles "Ninth" and
"Tenth" of its Articles of Association deleting the
requirements that all directors must be citizens of
the United States and that a majority of its shares
must be held by citizens of the United States.
*
*
* *
*
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Suspended
Rockford City Bancorp, Inc., Rockford, Illinois, for approval to acquire 100 per cent of the voting shares
(less directors1 qualifying shares) of City National
Bank & Trust Co. of Rockford, Rockford, Illinois. 1/ &
2/
Reactivated
Ashland Bancshares, Inc., Chicago, Illinois, for approval
to acquire 90 per cent or more of the voting shares of
Ashland State Bank, Chicago, Illinois. This reactivates
the application which was suspended by Board action
6/9/78.
I.B.F. Delaware Corp., Encino, California, for approval
to acquire 99.6 per cent of the voting shares of Independence Bank (Los Angeles, Encino), Encino, California.
v & 2/
V
Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.
- 5 -
H.2, 1979 No. 14
ACTIONS OF THE BQARD-Continued
Approved
Kerndt Bank Services, Inc., Lansing, Icwa, for approval
to acquire 98.125 per cent of the voting shares of
Kerndt Brothers Savings Bank, Lansing, Icwa. 1/ & 2/
Presque Isle Bancorporation, Inc., Rogers City, Michigan,
for approval to acquire 80 per cent or more of the
voting shares of Presque Isle Bank, Rogers City,
Michigan. 2/
Mazeppa Bancshares, Inc., Mazeppa, Minnesota, for approval
to acquire 84.2 per cent of the voting shares of People's
State Bank of Mazeppa, Mazeppa, Minnesota. 1/ & 2/
Attica Bank Corporation, Attica, Kansas, for approval to
acquire 96.67 per cent (less directors' qualifying
shares) of the voting shares of The First National Bank
of Attica, Attica, Kansas. 1/ & 2/
Muleshoe Bancshares, Inc., Muleshoe, Texas, for approval
to acquire 80 per cent or more of the voting shares of
First National Bank of Muleshoe, Muleshoe, Texas. 1/ & 2/
I.B.F. Delaware Corp., Encino, California, for approval to
acquire 99.6 per cent of the voting shares of Independence
Bank (Los Angeles, Encino), Encino, California. 1/ & 2/
*
*
* *
*
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Ellis Banking Corporation, Bradenton, Florida, for
approval to acquire 100 per cent of the voting shares
of Pan American Bank of Altamonte Springs, Altamonte
Springs, Florida, to acquire 96 per cent or more of
the voting shares of Pan American Bank of Ormond Beach,
N.A., Ormond Beach, Florida and to acquire 96 per cent
or more of the voting shares of Pan American Bank of
Volusia County, N.A., DeBary, Florida. 1/ & 2/
Mid America Bancshares, Inc., Kansas City, Missouri, for
approval to acquire 50.03 per cent of the voting shares
of Goppert Bancshares, Inc., Kansas City, Missouri.
1/ & 2/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.
H.2, 1979 No. W
- 6 -
w
ACTIONS OF TOE BQAFD-Ccaitinued
Denied
The Wyoming National Corporation, Casper, Wyoming,
for approval to acquire 80 per cent or more of the
voting shares of First National Bank of Glenrock,
Glenrock, Wyoming. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4 (c) (8) of the Bank Holding Company Act of 1956
Returned
European American Bancorp, New York, New York, notification of intent to engage in de novo activities (interbank Eurocurrency and Eurodollar placements and deposits;
commercial Eurocurrency and Eurodollar loans; and
foreign exchange transactions) at 33 Boulevard Prince
Henri, Luxembourg, Grand Duchy of Luxembourg, through its
subsidiary, European American Banking Corporation
(3/21/79) 3/
Financial Services Corporation of the Midwest, Rock Island,
Illinois, notification of intent to continue to engage
in de novo activities (making consumer installment
personal loans, purchasing consumer installment sales
finance contracts; and acting as agent for the sale of
consumer credit related life, accident and health and
casualty insurance in connection with extensions of credit
for said offices) at 2117 South Main Street, Morton,
Illinois, through its subsidiary, The Money Shops, Inc.
(4/6/79) 3/
x
Withdrawn
Rainier Bancorporation, Seattle, Washington, notification
of intent to engage in de novo activities (acting as
insurance agent or broker with regard to insurance that
is directly related to extensions of credit by Coast
Mortgage Co. in the following category: loss of rent
insurance) at 20 College Road, Fairbanks, Alaska, through
its subsidiary, Coast Mortgage Co. (4/2/79) 3/
Reactivated
Old Stone Corporation, Providence, Rhode Island, notification
of intent to engage in de novo activities (making mortgage
loans, consumer installment loans, consumer demand loans,
and accepting savings deposits in the manner authorized
27 Application subject to Community Reinvestment Act.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
ACTIONS OF TOE BQARD-Continueti
by Massachusetts State Law for Morris Plan Banking
Companies in connection with extensions of credit;
making available to borrowers credit life insurance
under a group policy) at 174 Taunton Avenue (Route
44), Seekonk, Massachusetts, through its indirect
subsidiary, Old Stone Banking Company of Bristol
County, New Bedford, Massachusetts, which is a
wholly-owned subsidiary of Old Stone Corporation' s
direct subsidiary, Com. & Fin. Services Corp.,
Providence, Rhode Island (4/3/79) 3/
Permitted
Old Stone Corporation, Providence, Rhode Island, notification of intent to engage in de novo activities
(making mortgage loans, consumer installment loans,
consumer demand loans, and accepting savings deposits
in the manner authorized by Massachusetts State Law for
Morris Plan Banking Companies in connection with extensions of credit; making available to borrowers credit
life insurance under a group policy) at 174 Taunton
Avenue (Route 44), Seekonk, Massachusetts, through its
indirect subsidiary. Old Stone Banking Company of
Bristol County, New Bedford, Massachusetts, which is a
wholly-owned subsidiary of Old Stone Corporation's
direct subsidiary, Com. & Fin. Services Corp., Providence,
Rhode Island (4/3/79) 3/
Mellon National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(general consumer finance activities~Tncluding acting
as insurance agent with respect to the sale of credit
life insurance, credit accident and health insurance, and
credit property insurance) at 3778 South East Street,
Indianapolis, and 2120 State Road 109 South, Anderson,
Indiana, through its wholly-owned subsidiary, Freedom
Financial Services Corporation, Oak Brook, Illinois
(4/5/79) 3/
Montgomery Bancorporaticn, Inc., Mt. Sterling, Kentucky,
notification of intent to engage in de novo activities
(acting as agent or broker for the sale of life, accident
and health, property and casualty insurance which are
directly related to extensions of credit by its bank
subsidiary and in the sale of any insurance to the company's banking subsidiary) such activities will be conducted cm the premises of the subsidiary bank, Montgomery
Bank and Trust Company, Mt. Sterling, Kentucky (4/5/79)
3/
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 14
- 8 ACTIONS OF THE BOARD-Continued
Pittsburg National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(any insurance for the banking subsidiary of the holding
company, among such coverages may be property damage, extended coverage insurance on real and personal property
owned or leased by the banking subsidiary, physical
damage, property damage and liability insurance on motor
vehicles owned or leased by the banking subsidiary,
public liability coverage for the banking subsidiary and
its employees, blanket bonds, safe deposits liability,
and employee hospital, medical, accidental death and
disability insurance; credit related insurance which will
protect personal property or real property securing loans
and other extensions of credit made or acquired by or
personal property leased by Pittsburgh National Corporation and its subsidiaries and credit related insurance
such as liability insurance sold in connection with property
damage insurance calculated to protect the lender's or
lessee's ability to obtain payment; insurance on mortgaged
property, including homeowner1 s insurance on mortgage
loans made, acquired or serviced by Pittsburgh National
Corporation and its subsidiaries) at Pittsburgh National
Building, 5th Avenue and Wood Street, Pittsburgh,
Pennsylvania, through a subsidiary, Pinaco, Inc.
(4/4/79) 3/
Commerce Companies, Inc., Topeka, Kansas, notification of
intent to transfer the credit-related insurance agency
activities conducted by its subsidiary bank, Commerce
Bank and Trust, Topeka, Kansas, which activities were
previously commenced de novo to the bank holding company
(the kinds of insurance coverages sold are reducing term
credit life insurance and credit accident and health insurance, level term credit life insurance on single payment notes, hazard or property and casualty insurance
which protects collateral securing loans made by the bank,
and insurance which is sold to individual borrowers in
conjunction with or as a part of an insurance package
including liability insurance sold in conjunction with
insurance relating to physical damage of an automobile
purchase which is financed by the bank and heme owner's
insurance policies with respect to a residence mortgaged
by the bank) such activities will be conducted on the
premises of the subsidiary bank located at 31st and South
Topeka Avenue, Topeka, Kansas (4/6/79) 3/
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
I
H.2, 1979 No. 14
- 9 ACTIONS OF 1HE BCARD-Continued
Kansas City Bancshares, Inc., Kansas City, Missouri,
notification of intent to engage in de novo activities (acting as insurance agent or broker in the
sale of any insurance for its bank subsidiaries,
Kansas City Bank & Trust, Kansas City, Missouri and
Vfestport Bank, Kansas City, Missouri, and for the
sale of credit life insurance, accident and health
insurance, property and casualty insurance which is
directly related to extensions of credit by its bank
subsidiaries) these insurance activities will be conducted on* the premises of the two subsidiary banks
(4/6/79) 3/
First Bancorporation, Salt Lake City, Utah, notification
of intent to engage in de novo activities (the industrial loan business under the provisions of Title 7,
Chapter 8, Utah Code Annotated 1953, as amended, and
act as agent for the sale of life, accident or health
insurance sold in connection with extensions of credit
by Foothill Thrift and Loan) at 1304 Foothill Drive,
Salt Lake City, Utah, through its subsidiary, Foothill
Thrift and Loan (4/3/79) 3/
Rainier Bancorporation, Seattle, Washington, notification
of intent to engage in de novo activities, (making or
acquiring, fdr its own account or for the account of
others, loans and otter extensions of credit including
the making of consumer installment loans, purchasing consumer installment sales finance contracts and making
loans to small businesses; leasing personal property and
equipment, or acting as agent, broker or advisor in such
leasing where at the inception of the initial lease the
effect of the transaction (and, with respect to governmental entities only, reasonably anticipated future
transactions) will yield a return that -will compensate
the lessor for not less than the lessor's full investment
in the property plus the estimated total cost of financing
the property over the term of the -lease as authorized
by the Federal Reserve Board under Section 225.4(a) (6) (a)
of Regulation Y; acting as insurance agent or broker with
respect to credit life and disability insurance relating
only to extensions of credit by Rainier Credit Company,
Secured or unsecured, with the limitation that the initial
amount of such insurance issued with respect to any debtors
may at no time exceldd the amount owed by debtors, and
with regard to consumer credit related property and
casualty insurance on personal property subject to security
agreements with Rainier Credit Company) at 3640 Camino
Del Rio North, San Diego, California, through its subsidiary,
Rainier Credit Company (4/6/79) 3/
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf ' <
of the Board of Governors under delegated authority.
H.2, 1979 No. 14
-
10
ACTIONS OF THE BQARD-Continued
Determinations Issued Pursuant to Section 2(g) (3) of
the Bank Holding Company Act
United Virginia Bancshares, Incorporated, Richmond,
Virginia, determination pursuant to section 2(g) (3)
of the Bank Holding Company Act that United Virginia
Bancshares, Incorporated does not control the transfer of a one-half interest in Tcwne Square Apartments,
Newport News, Virginia. 1/
*
* * * *
Certifications Issued Pursuant to the Bank Holding Company
Tax Act of 1976
Shelter Resources, Inc., Cleveland, Ohio, (1) prior
certification pursuant to section 6158(a) of the Internal Revenue Code that its sale on April 23, 1973,
of 61,579 outstanding shares of Capital National
Bank was necessary or appropriate to effectuate the
policies of the Bank Holding Company Act? and (2) final
certification that it has (before the expiration of
the period prohibited property is permitted under the
BHC Act to be held by a bank holding-company) ceased
to be a bank holding company. (Legal Division No. TCR
76-125). 1/
Republic of Texas Corporation, Dallas, Texas, prior
certification pursuant to section 6158(a) of the
Internal Revenue Code that the proposed sale by Westgate Company of 4.474 acres of certain real property
is necessary or appropriate to effectuate section 4
of the Bank Holding Company Act (12 U.S.C. section
1843 et. seq.) (Legal Division Docket No. TCR 76-107).
The Sperry and Hutchinson Company, New York, New York,
prior certification pursuant to section 1101(c) (3)
of the Internal Revenue Code that its proposed divestiture of all the shares of State National Bank
of Connecticut, Bridgeport, Connecticut is necessary
or appropriate to effectuate the policies of the
Bank Holding Company Act (12 U.S.C. section 1841
et. seq.) (Legal Division Docket No. TCR 76-171). 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
•
e
H.2, 1979 No. 14
- 11
ACTIONS OF THE BQARD-Continued
Sloan State Corporation, Sloan, Icwa, prior certification pursuant to section 1101(a) (1) of the Internal Revenue Code that its proposed divestiture
of approximately 75 acres of real property located
in Woodbury County, Icwa is necessary or appropriate
to effectuate the policies of the Bank Holding
Company Act (12 U.S.C. section 1841 et. seq.) (Legal
Division Docket No. TCR 76-168). 1/
First Missouri Banks, Inc., Creve Coeur, Missouri,
prior certification pursuant to section 1101.(c) (2)
of the Internal Revenue Code that the proposed distribution by First Missouri to its shareholders of
shares of a new corporation to be known as Properties One, Inc., a subsidiary of First Missouri, is
necessary or appropriate to effectuate section 4
of the Bank Holding Company Act. (Legal Division
Docket No. TCR 76-106(c)). 1/
Ector Shopping Center, Odessa, Texas ("Ector"), prior
certification pursuant to section 1101(b) (1) of the
Internal Revenue Code that its proposed divestiture
of all the 9800 shares new held by Ector of the First
National Bank of Olney, Olney, Texas ("Bank"), through
the distribution of such shares to the four shareholders of Ector, is necessary or appropriate to
effectuate the policies of the Bank Holding Company
Act (12 U.S.C. section 1841 et. seq.) (Legal Division
Docket No. TCR 76-146). 1/
C.I.T. Financial Corporation, New York, New York, prior
certification pursuant to section 6158(a) of the Internal Revenue Code that its sale of 75.1 per cent of
the outstanding voting shares of National Bank of
North America, Jamaica, New York to NatWest Holding
Inc., Wilmington, Delaware is necessary or appropriate
to effectuate the policies of the Bank Holding Company
Act (12 U.S.C. section 1841 et seq.) (Legal Division
Docket No. TCR 76-167). 1/
Republic of Texas Corporation, Dallas, Texas, prior
certification pursuant to section 6158(a) of the
Internal Revenue Code that the proposed sale by
Oxford Corporation, a subsidiary of Republic, of
a fifty per cent joint venture interest in Westgate
Company is necessary or appropriate to effectuate
section 4 of the Bank Holding Company Act (Legal
Division Docket No. TCR 76-107). 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1979 No. 14
-12ACTIONS OF TOE BOARD-Continued
C.I.T. Financial Corporation, New York, New York, prior
certification pursuant to section 6158(a) of the
Internal Revenue Code that its sale of 100 per cent of
the outstanding voting shares of National Bank of North
America, Jamaica, New York to Natwest Holdings, Inc.,
Wilmington, Delaware, is necessary or appropriate to
effectuate the policies of the Bank Holding Company Act
(12 U.S.C. section 1841 et. seq.) (Legal Division Docket
No. TCR 76-167). */ */
*/ V
Processed on behalf of the Board of Governors, acting through its
General Counsel pursuant to delegated authority.
H.2, 1979 No. 14
^
- 13 -
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section 9
of the Federal Reserve Act
First City Bank of Gainesville, Gainesville, Florida.
Branch to be established at the intersection of
Southwest 16 Avenue and Southwest 16 Street, Gainesville. 2/
Citizens Fidelity Bank & Trust Company, Louisville,
Kentucky. Branch to be established at the intersection of Poplar Level Road and Old Shepherdsvilie
Road, Louisville, Jefferson County. 2/
The Continental Bank and Trust Company, Salt Lake City,
Utah. Branch to be established at 5352 South 4000
West, Salt Lake County. 2/
*
* * * *
To Merge Pursuant to Section 18(c) of the Federal
Deposit Insurance Act
Colonial American Bank, Lynchburg, Virginia, to merge
with Metropolitan Bank of Central Virginia, Lynchburg,
Virginia* 2/
NB State Bank, Keysville, Virginia, to merge with State
Bank of Keysville, Keysville, Virginia. 2/
*
* * *
*.
To Become a Member of the Federal Reserve System Pursuant
to Section 9 of the Federal Reserve Act
NB State Bank, Keysville, Virginia, 2/
Colonial American Bank, Lynchburg, Virginia. 2/
* * * * *
To withdraw from Membership in the Federal Reserve System
without a Six-Month Notice as Prescribed by Section 9 of
the Federal Reserve Act
The Trust Company of New Jersey, Jersey City, New Jersey.
Seattle Trust & Savings Bank, Seattle, Vfeshington.
27 Application subject to Community Reinvestment' Act,
— 14 —
H.2, 1979 No. 14
APPLICATIONS RECEIVED-Continued
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Deposit Guaranty National Bank, Jackson, Mississippi:
permission to establish a branch in George Town,
Cayman Islands.
*
*
* *
*
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Gibson Investment Company, Gibson, lava, for approval
to acquire 96.3 per cent or more of the voting shares
of Gibson Savings Bank, Gibson, Icwa. 2/
Suburban Bancorp, Inc., Palatine, Illinois, for approval
to acquire 80 per cent or more (except for directors'
qualifying shares) of the voting shares of Palatine
Bank, Palatine, Illinois. 2/
First National Bancshares Corporation, Lexington,
Tennessee, for approval to acquire 100 per cent
of the voting shares of The First National Bank of
Lexington, Lexington, Tennessee. 2/
Moberly City Bancshares, Inc., Moberly, Missouri, for
approval to acquire 80 per cent or more of the voting
shares of City Bank and Trust Company of Moberly,
Moberly, Missouri. 2/
Applewood Bankcorp, Inc., Wheat Ridge, Colorado, for
approval to acquire 80 per cent or more of the voting
shares of Bank of Applewood, Wheat Ridge, Colorado. 2/
Columbian Financial Corporation, Olathe, Kansas, for
approval through its retention of control of The
Columbian Trust Company, Topeka, Kansas. 2/
Crescent Bancshares, Inc., Crescent, Oklahoma, for
approval to acquire 80 per cent or more (less directors'
qualifying shares) of the voting shares of The Bank of
Crescent, Crescent, Oklahoma. 2/
First National Bank Shares, Ltd., Great Bend, Kansas, for
approval to acquire 61.4 per cent or more of the voting
shares of First National Bank and Trust Company in Great
Bend, Great Bend, Kansas. 2/
2/ Application subject to Community Reinvestment Act.
-15-
H.2, 1979 No. 14
APPLICATICNS BECEIVE3>Continued
Marshall County Bankshares# Inc., Seattle, Kansas, for
approval to acquire 86 per cent (less directors'
qualifying shares) of the voting shares of The First
National Bank of Beattie, Beattie, Kansas. 2/
Texas Independent Bancshares, Inc., Hitchcock, Texas,
for approval to acquire 80 per cent or more of the
voting shares of First State Bank of Hitchcock,
Hitchcock, Texas. 2/
*
* * * *
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
First National Cincinnati Corporation, Cincinnati,
Ohio, for approval to acquire 100 per cent (except
directors' qualifying shares) of the voting shares
of the successor by absorption to The Commercial and
Savings Bank of Gallipolis, Gallipolis, Ohio. 2/
Colonial-American Bankshares Corporation, Roanoke,
Virginia, for approval to acquire 100 per cent
of the voting shares of the successor by merger to
Metropolitan Bank of Central Virginia, Lynchburg,
Virginia. 2/
NB Corporation, Charlottesville, Virginia, for approval
to acquire 100 per cent of the voting shares of the
successor by merger to State Bank of Keysville,
Keysville, Virginia. 2/
*
*
* *
*
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 de novo
activities (origination and sale of residential
mortgages and insurance agency for the sale of credit
life and credit accident and health insurance directly
related to an extension of credit) at 72 North
University Drive, Pembroke Pines, Florida, through
Industrial National Corporation's indirect subsidiary,
2/ Application subject to Community Reinvestment Act.
APPLICATIONS HECEIVED-Continued
Mortgage Associates, Inc., Milwaukee, Wisconsin
(a Rhode Island Corporation) which is a whollycwned subsidiary of Industrial National Corporation's direct subsidiary, MAI Financial Corporation,
Milwaukee, Wisconsin (a Wisconsin Corporation)
(4/3/79) 3/
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities (arranging, making or acquiring for its cwn
account or for the account of others, loans and
other extensions of credit such as would be made or
acquired by a mortgage corpany; servicing any such
loans and other extensions of credit for any person ;
acting as agent or broker, through an indirect subsidiary
known as CMC Insurance Agency Inc., for the sale of
credit life insurance and credit accident and health
insurance relating to such loans and other extensions
of credit) at 19206 Eastex Highway, 108 Transamerica
Building, Humble, Texas, through its subsidiary,
Citizens Mortgage Corporation (4/2/79) 3/
Security New York State Corporation, Rochester, New York,
notification of intent to engage in de novo activities
(to engage in data processing activities) at Building
#6, Delaware Park Centre, Clean, New York and 202
East State Street, Ithaca, New York, through its
subsidiary, Griffin Computer Services, Inc. (4/3/79) 3/
The Girard Company, Bala Cynwyd, Pennsylvania, notification of intent to continue to engage in de novo
activities (leasing of personal property and equipment
on a full pay out basis and acting as agent, broker or
adviser in the leasing of such properties; acting as
agent, broker or adviser in the formation of (limited)
partnership arrangements to engage in full pay out
leasing transactions and participating in such partnership transactions and acting as agent, broker or
adviser in and acquiring interests in conditional sales
financing transactions) through the Girard Leasing
Corporation, Three Girard Plaza, Philadelphia,
Pennsylvania and Omni lease Corporation, 11772 Sorrento
Valley Road, San Diego, California, for existing and
prospective new clients throughout the United States
in a new office of both companies at 680 West Dekalb
Pike, Sing of Prussia, Pennsylvania (4/3/79) 3/
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
-17 —
H.2, 19/9 No. 14
APPLICATIONS REX^IVED-Continued
Mellon National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities (activities that may be carried on by a trust
company, including activities of a fiduciary, investment advisory, agency or custodian nature)
at Arvida Financial Plaza, Glades Road, Boca Raton,
Florida, through a subsidiary, Mellon National Trust
Company (4/2/79) 3/
Heritage Wisconsin Corporation, Wauwatosa, Wisconsin,
notification of intent to engage in de novo activities
(fiduciary activities which will be transferred from
the trust department of the Heritage Bank of Whitefish
Bay) at 177 East Silver Spring Drive, Whitefish Bay,
Wisconsin, through its wholly-owned subsidiary, Heritage
Trust Company (4/5/79) 3/
First National Bancshares of Dodge City, Inc., Dodge
City, Kansas, notification of intent to engage in de
novo activities (acting as agent or broker for the
sale of life, accident and health, property and casualty
insurance which are directly related to extensions of
credit by its bank subsidiaries and in the sale of any
insurance for its banking subsidiaries) the proposed
insurance activities will be conducted on the premises
of First National Bank and Trust Company in Dodge City,
Dodge City, Kansas (4/4/79) 3/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c) (12) of the Bank Holding Company Act of 1956
Warner Conmuni cations Inc., New York, New York, notification of intent to acquire all the outstanding capital
stock of Allied Record Company, Los Angeles, California
(4/4/79) 3/
*
*
* *
*
REPORTS RECEIVED
None
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 14
-
18 -
APPLICATIONS RECEIVED-Continued
PETIITmS FOR RULEMAKING
None
B
@FedFRASER