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RESEARCH LIBRARY
ANNOUNCEMENT

iHR.2 1 19901 No. 33
«? the Board, its Staff, and
F£0£p',
’
the ,Federal Reserve Banks;
OF c u ^ ^ a t i o n s and Reports Received
During the Week Ending August 18, 1990

AUG 31

BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM

BANK HOLDING COMPANIES
Bank of New York Company, New York, New York —
acquire Northeast Bancorp, Inc., New Haven,
Connecticut, and its bank and nonbanking
subsidiaries.
Denied, August 15, 1990.

to

Bank of Southside Virginia Corporation, Carson,
Virginia — to acquire shares of Bank of McKenney,
McKenney, Virginia.
Approved, August 15, 1990.
Midland Bank, PIC, London, England — to acquire Deak
International Limited, New York, New York, and to
engage in various travelers check, payment
instrument, foreign exchange, precious metal,
advisory, check cashing, and tax refund agent
activities.
Approved, August 15, 1990.
BANK MERGERS
Crestar Bank, Richmond, Virginia — to merge with
National Bank of Northern Virginia, Sterling,
Virginia, and thereby to establish a branch.
Approved, August 13, 1990.
BANKS» STATE MEMBER
Bank of Commerce, Hamtramck, Michigan — petition for
review of Reserve Bank's approval to merge with the
State Bank of Fraser, Fraser, Michigan.
Denied, August 14, 1990.
BOARD OPERATIONS
Budget — mid-year adjustments.
Approved, August 15, 1990.
ENFORCEMENT




Columbia Bank, Avondale, Arizona —
and desist order.
Authorized, August 13, 1990.

issuance of cease

H.2
AUGUST 13, 1990
PAGE 2

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

RESERVE BANK OPERATIONS
Federal Reserve Bank of Chicago —
computer equipment.
Approved, August 13, 1990.

to purchase

RESERVE BANK SERVICES
Check collection service -- modification to the price
structure for shipping checks using the Inter­
district Transportation System (Docket R-0705).
Proposed, August 15, 1990.

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
ABBREVIATIONS: BS&R - Banking Supervision and Regulation; C&CA - Consumer and
Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve
Bank Operations; IF - International Finance; OSDM - Office of Staff Director
for Management
BANK BRANCHES, DOMESTIC
Chicago

Affiliated Bank / Chicago, Chicago, Illinois — to
establish a branch at 1457 West Diversey Parkway.
Approved, August 17, 1990.

Secretary

Meridian Bank, Reading, Pennsylvania — to establish
an offsite electronic banking facility at 1700 Arch
Street, Philadelphia, Pennsylvania.
Approved, August 16, 1990.

Philadelphia

Orrstown Bank, Orrstown, Pennsylvania — to establish
a remote service facility at Route 174 and Walnut
Bottom Road, Shippensburg, Pennsylvania.
Approved, August 14, 1990.

BANK HOLDING COMPANIES




Atlanta

Bank Corporation of Georgia, Macon, Georgia — to
acquire shares of Americorp, Inc., Savannah,
Georgia, and Ameribank, N.A.
Approved, August 17, 1990.

Chicago

Boscobel Bancorp, Inc., Boscobel, Wisconsin —
acquire Boscobel State Bank.
Approved, August 14, 1990.

to

H.2
AUGUST 13, 1990
PAGE 3

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




Staff Director
BS&R

Brenton Banks, Inc., Des Moines, Iowa — proposal
that Warren County Brenton Bank and Trust,
Indianola, Iowa, purchase the assets and assume the
liabilities of Brenton Warren County Savings Bank,
which was established to acquire certain assets and
assume deposit liabilities of the Indianola branch
of FirstCentral Federal Savings Bank, Chariton,
Iowa.
Approved, August 16, 1990.

Staff Director
BS8dR

Citizens Corporation, Corydon, Iowa — proposal that
Citizens State Bank purchase the assets and assume
the deposit liabilities of Citizens State Savings
Association, which was established to acquire
certain assets and assume deposit liabilities of
the Corydon and Russell branches of FirstCentral
Federal Savings Bank, Chariton, Iowa.
Approved, August 16, 1990.

Staff Director
BS&R

CNB Bancorp, Inc., Gloversville, New York —
agent registration.
Withdrawn, August 15, 1990.

S t . Louis

CNB Bancshares, Inc., Evansville, Indiana — to
operate a savings association through acquisition
of Valley Federal Savings Bank, Terre Haute,
Indiana.
Approved, August 14, 1990.

Chicago

Community Bank Corporation, Grant, Michigan —
acquire The Grant State Bank.
Approved, August 14, 1990.

New York

Compagnie Financiere de Suez and Banque Indosuez,
Paris, France — to engage through Indosuez Carr
Futures Inc., Chicago, Illinois, in the execution
and clearance of Standard and PoorTs 500 stock
index futures contract traded on the Chicago
Mercantile Exchange and the Major Market Index
futures contract traded on the Chicago Board of
Trade, and to provide incidental advisory services.
Permitted, August 14, 1990.

transfer

to

H .2

AUGUST 13, 1990
PAGE 4

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




Chicago

Duco Bancshares, Inc., Villa Park, Illinois, and
Banill Corporation — to engage de novo in making
and servicing loans and in leasing personal
property.
Permitted, August 15, 1990.

GC

Exchange Bancorporation, Inc., Chicago, Illinois, and
The Exchange National Bank of Chicago — control
determination involving Lisbon Bank and Trust
Company, Lisbon, Iowa, and Alliance Bancorporation.
Granted, August 13, 1990.

S t . Louis

First Bank Group, Inc., Brinkley, Arkansas — to
acquire FirstBank of Arkansas, Brinkley, Arkansas,
and Bank of Kensett, Kensett, Arkansas.
Approved, August 13, 1990.

Kansas City

First Howard Bancshares, Inc., Topeka, Kansas — to
acquire shares of First Security Bankshares, Inc.,
parent of Peoples State Bank, Cherryvale, Kansas.
Approved, August 15, 1990.

Kansas City

First Security Bankshares, Inc., Topeka, Kansas — to
acquire I and B, Inc., Cherryvale, Kansas, parent
of Peoples State Bank.
Approved, August 14, 1990.

Chicago

Fort Wayne National Corporation, Fort Wayne, Indiana
— to engage in insurance activities through Fort
Wayne National Life Insurance Company.
Permitted, August 14, 1990.

New York

George Gale Foster Corporation, Poughkeepsie, New
York — to acquire Fishkill National Corporation,
Beacon, New York, and The Fishkill National Bank.
Approved, August 17, 1990.

San Francisco

GNW Financial Corporation, Bremerton, Washington —
to retain Great Northwest Bank, Bremerton,
Washington.
Approved, August 15, 1990.

H.2
AUGUST 13, 1990
PAGE 5

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




Staff Director
BS&R

Hy-Vee Food Stores, Inc., Chariton, Iowa — proposal
that National Bank & Trust Co. purchase the assets
and assume the liabilities of National Federal
Savings Bank, which was established to acquire
certain assets and assume deposit liabilities of
the Chariton branch of FirstCentral Federal Savings
Bank.
Approved, August 16, 1990.

St. Louis

Jonesboro Bancompany, Inc., Jonesboro, Illinois —
acquire the successor by merger to The First
National Bank of Jonesboro.
Approved, August 14, 1990.

Staff Director
BS&R

Key Bancshares of Wyoming, Cheyenne, Wyoming, and
KeyCorp, Albany, New York — proposal that Key Bank
of Wyoming - Casper, Casper, Wyoming, purchase the
assets and assume the liabilities of Key Bank of
Wyoming, F.S.B., which was established to acquire
certain assets and assume deposit liabilities of
Provident Savings Association, F.A.
Approved, August 16, 1990.

Secretary

Key Bancshares of Wyoming, Cheyenne, Wyoming, and
KeyCorp, Albany, New York — to acquire Key Bank of
Wyoming, F.S.B., Casper, Wyoming, in connection
with Key’s bid to acquire Provident Savings
Association, F.A., from the Resolution Trust
Corporation.
Approved, August 17, 1990.

New York

KeyCorp, Albany, New York, and Key Bancshares of
Wyoming Inc., Cheyenne, Wyoming — to engage de
novo in various trust activities through The Key
Trust Company of the West, Cheyenne, Wyoming.
Permitted, August 13, 1990.

Chicago

Lanark Bancshares, Inc., Lanark, Illinois — to
engage de novo in insurance activities through
Lanark Bancshares Insurance Agency, Inc.
Permitted, August 17, 1990.

to

H.2
AUGUST 13, 1990
PAGE 6

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




New York

Manufacturers Hanover Corporation, New York, New York
— to engage de novo in financial advisory and loan
marketing activities through CIT Group Holdings,
Inc., a joint venture subsidiary owned with
Dai-Ichi Kangyo Bank, Limited, Tokyo, Japan.
Permitted, August 17, 1990.

Atlanta

MC Bancshares, Inc., Morgan City, Louisiana —
acquire Morgan City Bank & Trust Company.
Approved, August 15, 1990.

Staff Director
BS&R

Metropolitan Bancshares, Inc., Dallas, Texas —
transfer agent registration.
Withdrawn, August 15, 1990.

Staff Director
BS&R

Midwest Banco Bancorporation, Cozad, Nebraska —
proposal that First Bank and Trust Company, Cozad,
Nebraska, purchase the assets and assume the
liabilities of Interim Federal Savings Bank,
Imperial, Nebraska, which was formed to acquire
certain assets and assume deposit liabilities of
the Imperial branch of FirsTier Savings Bank,
F.S.B., Omaha, Nebraska.
Approved, August 17, 1990.

Kansas City

Midwest Banco Bancorporation, Cozad, Nebraska — to
acquire Interim Federal Savings Bank of Imperial,
Imperial, Nebraska.
Approved, August 17, 1990.

San Francisco

Mitsubishi Bank, Ltd., Tokyo, Japan, and Bancal
Tri-State Corporation, San Francisco, California —
to engage de novo in lending activities through
Mills-Ralston, Inc., San Francisco, California.
Permitted, August 15, 1990.

GC

NBD Bancorp, Inc., Detroit, Michigan — control
determination involving Michigan Capital and
Service, Inc., and Greater Washington Investors,
Inc.
Granted, August 16, 1990.

to

H.2
AUGUST 13, 1990
PAGE 7

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




Staff Director
BS&R

Republic Banking Corporation of Florida, Miami,
Florida, and Rebank Netherlands Antilles, N.V. —
proposal that Republic National Bank of Miami
purchase the assets and assume the liabilities of
Rebank Federal Interim Savings Bank, which was
established to acquire certain assets and assume
deposit liabilities of Miami Savings Bank.
Approved, August 16, 1990.

Atlanta

Republic Banking Corporation of Florida, Miami,
Florida, and Rebank Netherlands Antilles, N.V. —
to establish Rebank Federal Interim Savings Bank,
which is being formed to acquire certain assets and
assume certain liabilities of Miami Savings Bank,
and to facilitate the merger of that bank into
Republic National Bank of Miami.
Approved, August 17, 1990.

Kansas City

Rogers County Bank Holding Company, Claremore,
Oklahoma — to acquire Bank of Oklahoma, Claremore,
Oklahoma, and Bank of Oklahoma, Pryor, Oklahoma.
Approved, August 17, 1990.

Richmond

Southern National Corporation, Lumberton, North
Carolina — to acquire Western Carolina Savings &
Loan Association, Inc., Valdese, North Carolina.
Approved, August 16, 1990.

Richmond

Southern National Corporation, Lumberton, North
Carolina — to acquire Mutual Federal Savings and
Loan Association, a stock company, Elkin, North
Carolina.
Approved, August 16, 1990.

Kansas City

West Point Bancorp, Inc., St. Joseph, Missouri — to
acquire West Point Savings Association, West Point,
Nebraska.
Approved, August 17, 1990.

H.2
AUGUST 13, 1990
PAGE 8

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK MERGERS
Atlanta

Clanton Interim Bank* Clanton, Alabama —
with The Peoples Savings Bank.
Approved, August 17, 1990.

to merge

BANK PREMISES
S t . Louis

Bank of Ste. Genevieve, Ste. Genevieve, Missouri —
investment in bank premises.
Approved, August 13, 1990.

Philadelphia

Orrstown Bank, Orrstown, Pennsylvania —
in bank premises.
Approved, August 14, 1990.

investment

BANKS. NATIONAL
Cleveland

Croghan Colonial National Bank, Fremont, Ohio —
exercise fiduciary powers.
Approved, August 13, 1990.

to

CHANGE IN BANK CONTROL




Chicago

Arthur Bancshares Corp., Arthur, Illinois —
in bank control.
Permitted, August 15, 1990.

Dallas

Farmersville Bancshares, Inc., Farmersville, Texas
change in bank control.
Permitted, August 13, 1990.

San Francisco

Mid City Bancorp, Los Angeles, California —
in bank control.
Permitted, August 17, 1990.

Chicago

Northern States Financial Corporation, Waukegan,
Illinois — change in bank control.
Withdrawn, August 13, 1990.

change

change

H .2
AUGUST 13, 1990
PAGE 9

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

COMPETITIVE FACTORS REPORTS




Chicago

Citibank, Federal Savings Bank, Chicago, Illinois, to
merge with Brookfield Federal Bank for Savings,
Brookfield, Illinois — report on competitive
factors.
Submitted, August 17, 1990.

Kansas City

Farmers & Merchants State Bank, Wayne, Nebraska, to
merge with Wayne Savings Association — report on
competitive factors.
Submitted, August 17, 1990.

Kansas City

Farmers and Merchants National Bank, West Point,
Nebraska, to acquire the assets and assume the
liabilities of West Point Savings Association —
report on competitive factors.
Submitted, August 17, 1990.

Kansas City

Farmers and Merchants State Bank, Bloomfield,
Nebraska, to acquire the assets and assume the
liabilities of Farmers and Merchants Interim
Federal Savings, Hartington, Nebraska — report on
compet it ive factors.
Submitted, August 14, 1990.

Kansas City

First Bank and Trust Company, Cozad, Nebraska, to
acquire the assets and assume the liabilities of
Interim Federal Savings Bank of Imperial, Imperial,
Kansas — report on competitive factors.
Submitted, August 15, 1990.

Kansas City

First National Bank and Trust Company in Aurora,
Aurora, Nebraska, to acquire the assets and assume
the liabilities of Antelope Savings Bank, F.A. —
report on competitive factors.
Submitted, August 15, 1990.

H .2
AUGUST 13, 1990
PAGE 10

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

COMPETITIVE FACTORS REPORTS




Kansas City

FirsTier Bank, N.A., Omaha, Nebraska, to acquire the
assets and assume the liabilities of FirsTier
Savings Bank II, F.S.B. — report on competitive
factors.
Submitted, August 17, 1990.

San Francisco

Golden West Financial Corp., Oakland, California, to
acquire Community Federal Savings and Loan
Association, Mahwah, New Jersey — report on
competitive factors.
Submitted, August 16, 1990.

Chicago

Grant State Bank, Grant, Michigan, to merge with GSB
Bank — report on competitive factors.
Submitted, August 14, 1990.

San Francisco

Household Bank, F.S.B., Newport Beach, California,
to purchase the branch offices and/or the savings
accounts of Municipal Savings Bank, F.S.B., Towson,
Maryland — report on competitive factors.
Submitted, August 17, 1990.

Atlanta

Morgan City Bank & Trust Company, Morgan City,
Louisiana, to merge with First South Bank & Trust
Company — report on competitive factors.
Submitted, August 14, 1990.

Kansas City

Nebraska State Bank, Cozad, Nebraska, to acquire the
assets and assume the liabilities of Cozad Interim
Federal Savings Bank — report on competitive
factors.
Submitted, August 17, 1990.

St. Louis

Peoples Bank of Evansville, Evansville, Indiana, to
merge with INB Interim Bank, Indianapolis, Indiana
— report on competitive factors.
Submitted, August 13, 1990.

San Francisco

Puget Sound National Bank, Tacoma, Washington, to
merge with First National Bank of Enumclaw,
Enumclaw, Washington — report on competitive
factors.
Submitted, August 16, 1990.

H .2
AUGUST 13, 1990
PAGE 11

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

COMPETITIVE FACTORS REPORTS
Atlanta

SunTrust Banks, Inc., Atlanta, Georgia, to purchase
the deposits and certain related loans of eighteen
branches of Anchor Savings Bank, FSB, Hewlett, New
York — report on competitive factors.
Submitted, August 13, 1990.

Atlanta

Trust Company of Georgia Bank of Savannah, N.A.,
Savannah, Georgia, to merge with SunTrust /
Savannah Interim Savings Bank — report on
competitive factors.
Submitted, August 15, 1990.

Kansas City

United Nebraska Bank, 0 TNeill, Nebraska, to merge
with United Nebraska Savings and Loan Association
— report on competitive factors.
Submitted, August 14, 1990.

Kansas City

United Nebraska Bank, Grant, Nebraska, to assume the
deposit liabilities of United Nebraska Savings and
Loan Association, Ogallala, Nebraska — report on
competitive factors.
Submitted, August 16, 1990.

S t . Louis

United Southwest Bank, Washington, Indiana, to merge
with Martin County Bank, Shoals, Indiana — report
on competitive factors.
Submitted, August 17, 1990.

EXTENSIONS OF TIME




San Francisco

BankAmerica Corporation, San Francisco, California
extension to divest certain property.
Granted, August 13, 1990.

San Francisco

Dai-Ichi Kangyo Bank, Limited, Tokyo, Japan —
extension to divest certain property.
Granted, August 13, 1990.

San Francisc o
Francisco

Far West Bancorporation, Provo, Utah — extension to
October 12, 1990, to acquire Far West Bank.
Granted, August 16, 1990.

H .2

AUGUST 13, 1990
PAGE 12

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

EXTENSIONS OF TIME
Richmond

First Fidelity Bancorp, Inc., Fairmont, West Virginia
— extension to December 5, 1990, to acquire
FirstBank Shinnston, Shinnston, West Virginia.
Granted, August 13, 1990.

San Francisco

First Interstate Bancorp, Los Angeles, California —
extension to divest certain property.
Granted, August 14, 1990.

Chicago

Park Bancorporation, Inc., Madison, Wisconsin —
extension to November 19, 1990, to redeem certain
stock.
Granted, August 14, 1990.

Richmond

Premier Bankshares Corporation, Tazewell, Virginia —
extension to December 11, 1990, to merge with
Shawsville Bancorp, Inc., Shawsville, Virginia.
Granted, August 17, 1990.

Atlanta

T.C.N.B., Inc., Fort Pierce, Florida — extension to
December 13, 1990, to acquire Treasure Coast
National Bank.
Granted, August 14, 1990.

Atlanta

Wayne Bancorp, Inc., Jesup, Georgia — extension to
November 11, 1990, to acquire Wayne National Bank.
Granted, August 14, 1990.

San Francisco

Wells Fargo & Company, San Francisco, California —
extension to divest certain property.
Granted, August 13, 1990.

INTERNATIONAL OPERATIONS




New York

Bank of Bermuda (New York) Limited, New York, New
York — to establish a branch in the Cayman
Islands.
Approved, August 16, 1990.

New York

Manufacturers Hanover Trust Company, New York, New
York — to make an investment in Manufacturers
Hanover Bank (France), Paris, France.
Permitted, August 16, 1990.

H.2
AUGUST 13, 1990
PAGE 13

TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

MEMBERSHIP
Atlanta

Clanton Interim Bank, Clanton, Alabama —
member of the Federal Reserve System.
Approved, August 17, 1990.

to become a

Kansas City

Vectra Bank of Boulder, Boulder, Colorado — to
become a member of the Federal Reserve System.
Approved, August 13, 1990.

RESERVE BANK OPERATIONS




Director, FRBO

Federal Reserve Bank of Atlanta —
access storage devices.
Approved, August 13, 1990.

to purchase direct

H.2
AUGUST 13, 1990
PAGE 14

ADDITIONS AND CORRECTIONS
TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK BRANCHES, DOMESTIC
New York

Chemical Bank* New York, New York — to establish a
branch at 6629 Bay Parkway, Brooklyn, New York.
Approved, July 31, 1990.

BANK PREMISES
New York

United States Trust Company of New York, New York,
New York — investment in bank premises.
Approved, July 26, 1990.

CHANGE IN BANK CONTROL
San Francisco

ValliCorp Holdings, Inc., Fresno, California —
change in bank control.
Permitted, August 9, 1990.

COMPETITIVE FACTORS REPORTS




Richmond

Peoples Bank of Montross, Montross, Virginia,
acquisition of certain assets and assumption of
certain liabilities of the Warsaw, Virginia, branch
of Newport News Savings Bank, Newport News,
Virginia — report on competitive factors.
Submitted, August 8, 1990.

Atlanta

Trust Company Bank, Atlanta, Georgia, to merge with
SunTrust / Atlanta Interim Savings Bank — report
on competitive factors.
Submitted, August 8, 1990.

St. Louis

UniSouth Banking Corporation, Columbus, Mississippi,
to assume deposit liabilities and purchase selected
assets of two branches of Eastover Bank for
Savings, Jackson, Mississippi — report on
competitive factors.
Submitted, August 2, 1990.

H.2
AUGUST 13, 1990
PAGE 15

ADDITIONS AND CORRECTIONS
TO

AUGUST 17, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

EXTENSIONS OF TIME




New York

United Jersey Bank, Hackensack, New Jersey extension to July 27, 1991, to establish a branch
at 40-B Meadowlands Parkway, Harmon Grove,
Secaucus, New York.
Granted, August 3, 1990.

FEDERA L R E SE R V E BANK OF BOSTON A P P L IC A T IO N S

S ECTION I - APPLI C A T I O N S S U BJECT TO
N E W S P A P E R N O TICE ONLY
Comment Period E n d i n g Date

Application
NONE

SECTION II - A P PLICATIONS SUBJECT TO BOTH
N E W S P A P E R A N D F EDERAL R E G I S T E R NOTICE
C o mment Peri o d E n d i n g Date

Application
A n d o v e r Bancorp, I n c . ,
Andover, M a s s a c h u s e t t s
- 3 ( a ) ( 3 ) / 3 ( a ) (5)
a p p lication to m erge
w i t h Fir s t E ssex
Bancorp, Inc.,
Lawrence, Massach u s e t t s *
Royal B a n k of Scotland
Group pic, Edinburgh,
Scot l a n d - 3(a)(3)
appl i c a t i o n to acquire
1 0 0 % of the outsta n d i n g
shares of BankWorcester
Corporation, Worcester,
M a s sachusetts*

Newspaper

08-11-90

Federal R e g i s t e r Not Yet E s t a b l i s h e d

Newspaper
Federal R e g i s t e r

09-03-90
09-13-90

S E CTION III - APPLIC A T I O N S SU B J E C T TO
F E D E R A L R E G I S T E R N O T I C E ONLY
A p p l i cation

C o mment Period E n d i n g Date
NONE

SE C T I O N IV ~ A P P LICATIONS NOT S UBJECT TO
F E D E R A L R E G I S T E R OR N E W S P A P E R NOTICE
Ap p l i c a t i o n
NONE
♦Subject to CR A




Federal Reserve Bank of New York
Comment Period
Ending Date
SECTION I
Applications Subject to Newspaper
___________ Notice Only_________
Growth Bank, Basking Ridge, New Jersey to establish
a branch at 221 Madison Avenue, Convent Station,
New Jersey. 1/

9/12/90

SECTION II
Applications Subject to Both
Newspaper and Federal Register Notice
John R. Pfeffer, Naples, Florida to acquire up to
13.25 percent of Hometown Bancorporation, Darien,
Connecticut.

9/7/90 2/

SECTION III
Noribanking Applications
(Subject to Federal Register Notice Only)
Credit Lyonnais, Paris, France to retain 43.8% of
the shares of IMRS, Inc., Stamford, Connecticut and
thereby to engage in data processing activities.

9/8/90

CS Holding and Credit Suisse, both of Zurich,
Switzerland to retain indirectly Winter Partners
Inc., New York, New York and thereby to engage in
data processing services.

N/A

The Industrial Bank of Japan, Ltd., Tokyo, Japan to
engage de novo in certain financial advisory
activities.

8/30/90

SECTION IV
Applications Not Involving
______ Public Comment______
None.

1/
2/
3/

4/




Subject to provisions of Community Reinvestment Act.
Later of dates specified in newspaper and Federal Register notices.
Date specified in newspaper notice; a later date may be specified in
the Federal Register notice.
N/A - Not Available
Date specified in Federal Register notice; a later date may be
specified in the newspaper notice.

FED ERA L R E S E R V E BANK OF P H ILA D ELP H IA

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY
Comment Period Ending Date
None.

SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND
FEDERAL REGISTER NOTICE
Comment Period Ending Date
None.

SECTION III ~ APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
Comment Period Ending Date
None.

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE

None.

1/ Subject to provisions of Community Reinvestment Act.
* N/A - not yet available.




F e d e r a l R e s e r v e Bank o f C le v e la n d

Applications Bulletin
For Week Ending August 18, 1990
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
NONE

SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
NONE

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
A P P LICA TION

C O MMENT P E R I O D ENDING

Received request on August 6, 1990 from
PNC Financial Corp, Pittsburgh, Pennsylvania,
for an exemption from the tie-in restrictions
of Section 106 of the Bank Holding Company
Act with respect to the offering by PNC
subsidiary banks and their affiliates
of certain traditional banking services
in p ackaged arrangements.
Received Section 4(c)(8) application on
August 10, 1990 from First Financial
Bancorp, Monroe, Ohio, to acquire
Fayette Federal Savings Bank,
Connersville, Indiana.

*
#
N
F

-

Not Yet Known #

S e p t e m b e r 10, 1990

Subject to CRA
Expected to end approximately 30 days from the date of receipt
Newsp a p e r Comment Period
Federal Register Comment Period




Applications Bulletin
For Week Ending August 18, 1990
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY Cont.
Rec e i v e d S ection 4(c)(8) notification on
Augu s t 14, 1990 from Banc One Corporation,
Columbus, Ohio, to establish de novo Banc
One Capital Partners II, Columbus, Ohio, to
engage in making, acquiring, and servicing
loans p u r s u a n t to Section 2 2 5 . 2 5 ( b ) (1) of
Re g u l a t i o n Y.

Not Yet Known #

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
R e c e i v e d notice on August 14, 1990 from First
National Financial Corporation, Manchester,
Kentucky, of its intent to repurchase up to
11.800% of its common stock outstanding.

*
#
N
F

-

Subject to CRA
E xpected to end approximately 30 days from the date of rece i p t
N e w s p a p e r Comment Period
Federal Register Comment Period




Federal Reserve Bank of Richmond

Section I - Applications Subject to Newspaper
Notice Only

Application

Comment Period Ending Date

Bruceton Bank, Bruceton Mills, West
Virginia, request for permission to
establish a branch at the intersection
of Patteson Drive and Rawley Lane,
Morgantown, West Virginia.*

8-31-90

Peoples Bank of Danville, Danville,
Virginia, request for permission to
establish a branch at 2018 Tate Springs
Road, Lynchburg, Virginia.*

9-2-90

First Virginia Bank, Falls Church,
Virginia, request for permission to
establish a branch at 2089 Daniel Stuart
Square, Woodbridge, Virginia.*

9-10-90

Crestar Bank, Richmond, Virginia, request
for permission to establish a branch at
the intersection of Centreville Road and
Fox Mill Road, Herndon, Virginia.*

9-12-90

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application

Comment Period Ending Date

Community National Bancorporation of
South Carolina, Inc., Columbia, South
Carolina, for prior approval to become
a bank holding company through the
acquisition of Community National Bank
of South Carolina (in organization),
Columbia, South Carolina.*

9-11-90

Rising Sun Bancorp, Rising Sun, Maryland,
for prior approval to become a bank holding
company through the acquisition of The
National Bank of Rising Sun, Rising Sun,
Maryland.*

9-17-90

*Application is subject to CRA.




Federal Reserve Bank of Richmond

Section III - Applications Subject to Federal Register Notice
Application

Comment Period Ending Date

None

Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
None




Federal Reserve Bank of Atlanta
Applications Bulletin for Week Ending August 17. 1990

Section I - Applications Subject To Newspaper Only
Application
Central Bank of the South
08-25-90 (CRA)
Birmingham, Alabama
Newspaper
To establish a branch office at the intersection of Center Point Parkway
and Polly Reed Road, Birmingham, Alabama, to be known as Center Point
Supermarket Branch.
Section II - Applications Subject To Both
Newspaper and Federal Register Notice
Application

Comment Period Ending Date

Brannen Acquisition Corp.
08-31-90
Inverness, Florida
Federal Register and Newspaper
1-BHC formation, Brannen Banks of Florida, Inc., Inverness, Florida.

Soperton Naval Stores, Inc.
08-30-90
Soperton, Georgia
Federal Register
To retain 8.86 percent of Soperton Bancshares, Inc., Soperton, Georgia,
that increased its total ownership from 37.30 percent to 46.16 percent.
Applicant also seeks prior approval to increase its ownership of Soperton
Bancshares from 46.16 percent to 50.02 percent.

Gulf South Bancshares, Inc.
Gretna, Louisiana
Change in control by Gerard E. Schexnayder to acquire an additional 1.8
percent of the outstanding shares of common stock which will increase his
total ownership to 13.51 percent.

Section IV - Applications Not Subject To Federal Register Notice
or Newspaper Notice
Application
Jefferson Bancshares, Inc.
Louisville, Georgia
Commitment waiver request.
Week Ending August 17, 1990




F e d e ra l R e se rv e Bank o f C h ic a g o

Section I - Applications Subject to Newspaper
Notice Only
Comment Period
Ending Date

Type

Application

EFT

Bankers Trust Company
Des Moines, Iowa
Farm Bureau, 5400 University Avenue
West Des Moines, Iowa*

N

- 9-15-90

Branch/24A

Central State Bank
Muscatine, Iowa
Econo Mart Food Store
501 West By Pass 61
Muscatine, Iowa*

N

- 9-17-90

Section II - Applications Subject to Both
Newspaper and Federal Register Notice

Type

Application

Y-2

Marshall & Ilsley Corporation
Mi1waukee, Wisconsin
Rosendale Bancshares, Inc.
Rosendale, Wisconsin
Rosendale State Bank
Rosendale, Wisconsin*

CoC-HC

Northern States Financial Corporation
Waukegan, Illinois
Fred Abdula

Y-2

Y-2

Y-2




First Northbrook Bancorp, Inc.
Riverwoods, Illinois
Sherman Community Bank & Trust Company
Sherman, Illinois (charter)
First Security Bank of Gurnee
Gurnee, Illinois (in organization)*
First Financial Corporation
Terre Haute, Indiana
First Citizens of Paris, Inc.
The Citizens National Bank of Paris
Paris, Illinois*
First Citizens Financial Corp.
Charles City, Iowa
Osage Bank Services, Inc.
Osage, Iowa
Osage Farmers National Bank
Osage, Iowa*

Comment Period
Ending Date
FR - 8-10-90
N - 8-8-90

FR - 8-31-90
- 7-30-90

N

FR - 8-24-90
- 8-31-90

N

FR - 9-5-90
N

- **

FR - 9-5-90
N - 9-10-90

F e d e r a l R e se rv e Bank o f C h ic a g o

Section II - Applications Subject to Botl
Newspaper and Federal Register Notice
Continued
Comment P e r io d
E n d in g D ate

Type

Application

Y-2

Monmouth Financial Services, Inc.
Minneapolis, Minnesota
Texas Financial Bancorpor at ion, Inc.
Minneapolis, Minnesota
First Bancorp, Inc.
Denton, Texas
First State Bank of Denton
Denton, Texas*

FR - 9-5-90
N - **

CoC-HC

Citizens Banking Corporation
FIint, Michigan
Centra, Inc.
Warren, Michigan

FR - 8-31-90
N - **

Y-2

Westbank Financial Corporation
Naperville, Illinois
First National Bank of Wheaton
Wheaton, Illinois*

FR - 9-5-90
N - **

Y-l

North Milwaukee Bancshares, Inc.
Milwaukee, Wisconsin
North Milwaukee State Bank
Milwaukee, Wisconsin*

FR - 9-10-90
N - 8-26-90

Y-2

Fidelity Company
Dyersville, Iowa
Clarence Bancshares, Inc.
Clarence, Iowa
Clarence State Bank
Clarence, Iowa*

FR - 9-13-90
N - **

Y-l

Garwin Bancorporation
Garwin, Iowa
Farmers Savings Bank
Garwin, Iowa*

FR - 9-13-90
N - 6-25-90

CoC-BK

Bank of Commerce & Industry
Chicago, Illinois
Richard M. Rosenberg, Trustee of
Harold J. Green Declaration of Trust U/A;
Richard M. Rosenberg, Independent
Executor of the Estate of Harold J.
Green, Deceased

FR - **
N - **




F e d e ra l R e se rv e Bank o f C h ic a g o

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Continued
Comment P e r io d
E n d in g D a te

Type

Application

CoC-HC

West Suburban Bancorp, Inc.
Lombard, Illinois
West Suburban Bank Stock Bonus Trust
Lombard, Illinois

FR - **
N - **

CoC-BK

Liberty Bank
Milwaukee, Wisconsin
Liberty Bank Stock Bonus Plan and Trust
Milwaukee, Wisconsin

FR - **
N - **

Section III - Applications Subject to Federal Registe
Only

Notice
Comment Period
Ending Pate

S obs

Application

Y-4

Hy-Vee Food Stores, Inc.
Chariton, Iowa
4(D) Exemption from Prohibition
relating to nonbanking activities

FR - 9-21-90

4(c)(8)

Bright Financial Services, Inc.
Flora, Indiana
Independent Bankers Life Insurance
Company of Indiana
Roachdale, Indiana

FR - 9-5-90

4(c)(8)

Cloverdale Bank Corporation
Cloverdale, Indiana
Independent Bankers Life Insurance
Company of Indiana
Roachdale, Indiana

FR - 9-5-90

4(c)(8)

The North Salem State Bancorporation
North Salem, Indiana
Independent Bankers Life Insurance
Company of Indiana
Roachdale, Indiana

FR - 9-5-90

4(c)(8)

Tri-County Bancorp
Roachdale, Indiana
Independent Bankers Life Insurance
Company of Indiana
Roachdale, Indiana

FR - 9-5-90




F e d e r a l R e se rv e Bank o f C h ic a g o

Section III - Applications Subject to Federal Register Notice
Only
Continued
Comment Period
Ending Date

Type

Application

Y-4

Caisse Nationale de Credit Agricole S.A.
Paris, France
Index Futures Group, Inc.
Chicago, Illinois

FR - 9-13-90

4(c) 8)

Rock River Bancorporation
Oregon, Illinois
General insurance activities in town with
population less than 5,000

FR - **

Section IV - Applications Not Subject to Federal Register Notice
Or Newspaper Notice
Type

Application

None

N
FR
*
i*
t

_

Newspaper
Federal Register
Subject to Provisions of Community Reinvestment Act
Not available at this time




August 17, 1990

Federal Reserve Bank of St. Louis

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE
None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE

None.
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE
None.

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
Stock redemption notification by
Farmers and Traders Bancshares,
Inc., California, Missouri




FEDERAL RESERVE BANK OF MINNEAPOLIS
Section I - Applications Subject to
Newspaper Notice Only
Comment Period
Ending Date

ApDlication
North Shore Bank of Commerce
Duluth, MN
To purchase the assets and assume
the liabilities of Airport State Bank
of Duluth, Duluth, MN*

Not yet available

Security Bank Minnesota
Albert Lea, MN
To establish a branch in
Austin, MN*

Not yet available

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Comment Period
Ending Date

Application
Dennis J. Zaun, Robert D. Edwards,
and Thomas J. Sexton
To acquire 100% of the Farmers
and Merchants Agency, Inc., Pierz, MN

Not yet available

Anchor Bancorp,
Wayzata, MN
To acquire 100%
of the Heritage
North St. Paul,

Not yet available

Inc.
of the voting shares
National Bank,
MN*

Midwest R & S Corporation
Brookings, SD
To retain 99.39% of Home Trust
Savings and Loan Association,
Vermillion, SD*

Not yet available

Staples Financial Services, Inc.
Staples, MN
To become a bank holding company
through the acquisition of 97.18%
of the voting shares of Staples
State Bank, Staples, MN*

Not yet available

♦Subject to CRA




FEDERAL RESERVE BANK OF MINNEAPOLIS

Section III - Applications Subject
to Federal Register Notice Only
Comment Period
Ending Date

Application
Exeter Bancorporation, Inc.,
St. Paul, MN
to engage in general insurance
agency activities through the
acquisition of Karlstad Insurance
Agency, Inc., Karlstad, MN

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in title insurance
agency activities through the
acquisition of American Land
Title Co., Inc., Omaha, NE

Not yet available

Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
Superior Financial Corporation
Sault Ste. Marie, MI
To redeem 43.04% of its voting
shares.




Federal Reserve Bank o f Kansas City

SECTION I - APPLICATIONS SUBJECT TO N E W SPAPER
NOTICE ONLY
APPLICATION

COMMENT PERI O D E N DING DATE

None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION

COMMENT PERIOD ENDING DATE

Lowry Facilities, Inc., Clinton,
Oklahoma, for prior approval to
indirectly acquire 93.51 percent of
the voting shares of Custer County
State Bank, Arapaho, Oklahoma.*

Not Ava i l a b l e

Oklahoma Bancorporation, Clinton,
Oklahoma, for prior approval to
acquire 93.51 percent of the voting
shares of Custer County State
Bank, Arapaho, Oklahoma.*

Not Av a i l a b l e

Bruning Bancshares, Inc., Bruning,
Nebraska, for prior approval to
become a bank holding company through
the acquisition of 80 percent of the
voting shares of Bruning State Bank,
Bruning, Nebraska.*

Not Av a i l a b l e

Grand Valley Corporation, Grand
Junction, Colorado, for prior
approval to become a bank holding
company through the acquisition of 80
percent of the voting shares of Grand
V a lley National Bank, Grand Junction,
Colorado.*

Not Ava i l a b l e

Blue Ridge Bancshares, Inc., Kansas
City, Missouri, for prior approval to
become a bank holding company through
the acquisition of 100 percent of the
voting shares of Interim Blue Ridge
Bank and Trust Company, Kansas City,
M i s s o u r i .*

Not Av a i l a b l e




Federal Reserve Bank of Kansas City

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION

COMMENT PERIOD ENDING D A T E

Turon Banc Shares, Inc., Turon,
Kansas, for prior approval to acquire
80 percent of the voting shares of
Sylvia, Inc., Sylvia, Kansas.

Not Available

SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER N O T I C E
OR NEWSPAPER NOTICE
APPLICATION
Wauneta Falls Bancorp, Inc., Wauneta,
Nebraska, for prior approval to
redeem 975 shares of its own voting
common stock.
A l b i o n National Management Co., Inc.,
Albion, Nebraska, for prior approval
to redeem 255 shares of its own
voting common stock.

*Application is subject to CRA.




FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN
APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF AUGUST 13, 1990

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
NOTICE EXP

APPLICATION
None.

SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION

** NOTICE EXP

Change in Control Notice by
Jake Cole Howard, Bedias, TX, to acquire an
interest in First Anderson Bancshares, Inc.,
Anderson, TX

N/A

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION

NOTICE EXP

None.

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
APPLICATION
None.

* SUBJECT TO CRA.
** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY.
N/A - NOT AVAILABLE AT THIS TIME.




FEDERAL RESERVE BANK OF SAN FRANCESCO

Week ending 8/17/90
Section I - Applications Subject to Newspaper Notice Only
Application

Comment Period Ending Date

None
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Philippine National Bank, Manila, Philippines,
to become a bank holding company through the
acquisition of Century Bank, San Francisco,
California. *
CELOO Enterprises Incorporated, Eugene, Oregon,
to become a bank holding company through the
acquisition of Liberty Savings Bank, Eugene,
Oregon. *

Fed. Rea.:

8/16/90

Newspaper:

Not available

Fed. Reg.: Not available
Newspaper:

9/06/90

Section III - Applications Subject to Federal Register Notice Only
The Sanwa Bank, Limited, Osaka, Japan, to
engage in interest rate/currency swaps,
foreign exchange and expanded futures
ocmmision merchants and advisory activities
through Sanwa-BGK Securities Co., L.P.,
New York, New York.

Fed. Rea.: Not yet published

Philippine National Bank, Manila Philippines,
to engage in management consulting through
Philippine National Bank, Los Angeles,
California.

Fed. Reg.: Not yet published

Philippine National Bank, Manila, Philippines,
to engage in general economic advising
through FNB Investments Limited, Hong Kong.

Fed. Reg.: Not yet published

Ihe Sanwa Bank, Limited, Osaka, Japan, to
engage in leasing transactions in which the
lessor may rely on an estimated residual
value of up to 100 percent of the acquisition
cost of the leased property through Sanwa
Business Credit Corporation, Chicago, Illinois.

Fed. Reg.: Not yet published

Section IV - Applications Not Subject to Federal Register Notice
or Newspaper Notice
None
* Subject to CRA.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102