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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 Franciscoo 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 * it* _ 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.
@FedFRASER