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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2 A p p l i c a t i o n and R e p o r t s R e c e i v e d o r A c t e d on 1971 No, 35 D u r i n g Week E n d i n g A u g u s t 2 8 , 1971 12 To Withdraw f r o m Membership i n t h e F e d e r a l R e s e r v e System W i t h o u t a S i x Month N o t i c e a s P r e s c r i b e d by S e c t i o n 9 of the Federal Reserve Act Received F i r s t I n d e p e n d e n t Bank, V a n c o u v e r , W a s h i n g t o n To E s t a b l i s h a D o m e s t i c Branch P u r s u a n t t o S e c t i o n 9 of t h e F e d e r a l R e s e r v e A c t „ Received The C o n n e c t i c u t Bank and T r u s t Company, H a r t f o r d , C o n n e c t i c u t , t o e s t a b l i s h a b r a n c h a t 21 P e n n s y l v a n i a A v e n u e , i n t h e town o f E a s t Lyme, C o n n e c t i c u t . Broadway Bank and T r u s t Company, P a t e r s o n , New J e r s e y . To e s t a b l i s h a b r a n c h on C e d a r L a n e , T e a n e c k , New J e r s e y . G i r a r d T r u s t Bank, B a l a Cynwyd, Montgomery C o u n t y , P e n n s y l v a n i a , t o e s t a b l i s h a b r a n c h o f f i c e on t h e S o u t h s i d e of R o u t e 30, 1 , 7 5 0 f e e t e a s t o f t h e i n t e r s e c t i o n of R o u t e 30 and R o u t e 100, E x t o n , West W h i t e l a n d T o w n s h i p , C h e s t e r C o u n t y . The F i f t h T h i r d Bank, C i n c i n n a t i , O h i o , t o e s t a b l i s h a b r a n c h a t 421 L o v e l a n d - M a d e i r a Road, L o v e l a n d , Hamilton County. The C l e v e l a n d T r u s t Company, C l e v e l a n d , O h i o , t o e s t a b l i s h a b r a n c h a t 25890 Emery Road, W a r r e n s v i l l e H e i g h t s , Cuyahoga C o u n t y . P e o p l e s Bank and T r u s t Company, Montgomery, A l a b a m a , t o e s t a b l i s h a b r a n c h a t t h e i n t e r s e c t i o n of A t l a n t a Highway and E a s t e r n B o u l e v a r d , Montgomery, A l a b a m a , t o be known a s t h e E a s t d a l e B r a n c h . H.2 1971 No. 7 8 12 - 2 - 35 C i t i z e n s Commercial & S a v i n g s Bank, F l i n t , M i c h i g a n , to e s t a b l i s h branches a t the following l o c a t i o n s : A. 302 N o r t h Saginaw S t r e e t , S h i a w a s s e e C o u n t y , Durand, Michigan, ( d r i v e - i n ) ; B. 7535 D a v i s o n Road, D a v i s o n Township, Genesee C o u n t y , M i c h i g a n ; and C. 5510 R i c h f i e l d Road, G e n e s e e Township, Genesee County, Michigan. C i t i z e n s Bank and T r u s t Company, C a m p b e l l s v i l l e , K e n t u c k y , t o e s t a b l i s h a b r a n c h a t 408 E a s t Main S t r e e t , C a m p b e l l s v i l l e , Kentucky. I d a h o S t a t e Bank, G l e n n s F e r r y , I d a h o , t o e s t a b l i s h a b r a n c h i n Hagerman, Gooding C o u n t y . Approved 2 ^ C e n t r a l Home T r u s t Company of E l i z a b e t h , New J e r s e y , E l i z a b e t h , New J e r s e y , t o e s t a b l i s h a b r a n c h a t P l o t No. 1 , Goodmans C r o s s i n g , a p p r o x i m a t e l y 450 f e e t s o u t h of t h e i n t e r s e c t i o n of Lake Avenue and Goodmans C r o s s i n g , S c o t c h P l a i n s T o w n s h i p , Union County. 7 ^ T r a v e r s e C i t y S t a t e Bank, T r a v e r s e C i t y , M i c h i g a n , t o e s t a b l i s h a b r a n c h a t 2180 Munson A v e n u e , T r a v e r s e C i t y , Michigan. * 4 2 * * * To C a r r y Reduced R e s e r v e s P u r s u a n t t o S e c t i o n 19 of t h e F e d e r a l R e s e r v e A c t Approved The S o u t h e r n Ohio Bank, C i n c i n n a t i , Ohio To E s t a b l i s h an O v e r s e a s Branch of a Member Bank P u r s u a n t t o S e c t i o n 25 of t h e F e d e r a l R e s e r v e Act Received The C h a s e M a n h a t t a n Bank N . A . , New York, New York Branch i n A g a n a , Guam< •k * ic * * A p p l i c a t i o n a p p r o v e d by R e s e r v e Bank on b e h a l f of t h e Board of G o v e r n o r s u n d e r d e l e g a t e d a u t h o r i t y . To Form a Bank H o l d i n g Company P u r s u a n t t o S e c t i o n 3 ( a ) ( 1 ) of t h e Bank H o l d i n g Company Act of 1956 Received The T e r r e b o n n e C o r p o r a t i o n , Houma, L o u i s i a n a , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of T e r r e b o n n e Bank & T r u s t Company, Houma, L o u i s i a n a . The D a i - I c h i Bank, L i m i t e d , C h i c a g o , I l l i n o i s , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e voting shares (less d i r e c t o r s ' qualifying shares) of The F i r s t P a c i f i c Bank of C h i c a g o , C h i c a g o , I l l i n o i s (a p r o p o s e d new b a n k ) . Niles C a p i t a l Corporation, Chicago, I l l i n o i s , for p r i o r a p p r o v a l t o a c q u i r e 3 3 , 0 0 0 of t h e v o t i n g s h a r e s of Bank o f N i l e s , N i l e s , I l l i n o i s . Approved Alamo B a n c s h a r e s , I n c . , San A n t o n i o , T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e voting shares (less d i r e c t o r s ' qualifying shares) of t h e s u c c e s s o r by m e r g e r t o The Alamo N a t i o n a l Bank of San A n t o n i o , San A n t o n i o , T e x a s . * * * * To Expand a Bank H o l d i n g Company P u r s u a n t t o S e c t i o n 3 ( a ) ( 3 ) of t h e Bank H o l d i n g Company Act of 1956 Received The C h a s e M a n h a t t a n C o r p o r a t i o n , New Y o r k , New Y o r k , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of C h a s e M a n h a t t a n Bank of Long I s l a n d ( N a t i o n a l A s s o c i a t i o n ) , M e l v i l l e , S u f f o l k C o u n t y , New York (a p r o p o s e d new b a n k ) . F l o r i d a N a t i o n a l Banks of F l o r i d a , I n c . , J a c k s o n v i l l e , F l o r i d a , f o r p r i o r a p p r o v a l t o a c q u i r e 80 p e r c e n t o r more of t h e v o t i n g s h a r e s of Ormond Beach F i r s t N a t i o n a l Bank, Ormond B e a c h , F l o r i d a . F i r s t S o u t h w e s t B a n c o r p o r a t i o n , I n c . , Waco, T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e more t h a n 51 p e r c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by r e o r g a n i z a t i o n t o B e l l m e a d S t a t e Bank, Waco, T e x a s . H.2 1 9 7 1 No. - 4- 35 Received (continued) 11 F i r s t S o u t h w e s t B a n c o r p o r a t i o n , I n c . , Waco, T e x a s , t o r p r i o r a p p r o v a l t o a c q u i r e more t h a n 51 per c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by r e o r g a n i z a t i o n t o F i r s t Bank and T r u s t of R i c h a r d s o n , R i c h a r d s o n , Texas. 11 F i r s t S o u t h w e s t B a n c o r p o r a t i o n , I n c . , Waco, T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e more t h a n 51 p e r c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by merger to The K i l g o r e N a t i o n a l Bank, K i l g o r e , Texas. 11 F i r s t S o u t h w e s t B a n c o r p o r a t i o n , I n c . , Waco, T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e more t h a n 51 per c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by merger t o S a b i n e N a t i o n a l Bank of P o r t A r t h u r , Port Arthur, Texas. 5 Approved Mercantile Bankshares C o r p o r a t i o n , Baltimore, M a r y l a n d , f o r p r i o r a p p r o v a l t o a c q u i r e 80 p e r c e n t o r more of t h e v o t i n g s h a r e s of The C h e s t e r town Bank of M a r y l a n d , C h e s t e r t o w n , M a r y l a n d . 6 B a r n e t t Banks of F l o r i d a , I n c . , J a c k s o n v i l l e , F l o r i d a , f o r p r i o r a p p r o v a l t o a c q u i r e 80 p e r c e n t or more of t h e v o t i n g s h a r e s of C e n t r a l Bank i n F o r t Lauderdale, Fort Lauderdale, Florida. 6 F i r s t F l o r i d a B a n c o r p o r a t i o n , Tampa, F l o r i d a , f o r p r i o r a p p r o v a l t o a c q u i r e 90 p e r c e n t o r more of t h e v o t i n g s h a r e s of M a r i n e N a t i o n a l Bank of S t . P e t e r s b u r g , S t . P e t e r s b u r g , F l o r i d a (a p r o p o s e d new b a n k ) . Reactivated On H.2 No. 24, f o r t h e week ended J u n e 12, 1971, t h e Board r e p o r t e d r e c e i p t of an a p p l i c a t i o n from Banks of Iowa, I n c . , Cedar R a p i d s , Iowa, f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of Union Bank and T r u s t Company, Ottumwa, Iowa. T h i s a p p l i c a t i o n was p l a c e d i n s u s p e n s e f o l l o w i n g r e c e i p t of a D e p a r t m e n t of J u s t i c e l e t t e r to t h e Board d a t e d J u l y 23, 1971. F o l l o w i n g r e c e i p t of A p p l i c a n t ' s r e p l y d a t e d A u g u s t 18, x 1.971, thi-s a p p l i c a t i o n h a s been r e a c t i v a t e d . H.2 1971 No. 35 1 -5To Expand a Bank H o l d i n g Company P u r s u a n t t o S e c t i o n 4 ( c ) ( 8 ) of t h e Bank H o l d i n g Company A c t of 1956 Received I n d u s t r i a l N a t i o n a l C o r p o r a t i o n , P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t t o c o n t i n u e t o e n g a g e i n a jde novo a c t i v i t y ( p r o v i d i n g d a t a processing a c t i v i t i e s ) . 8-26-71 2 L i n c o l n F i r s t B a n k s , I n c . , R o c h e s t e r , New Y o r k , n o t i f i c a t i o n of i n t e n t t o e n g a g e de novo i n c e r t a i n n o n b a n k i n g a c t i v i t i e s (making o r a c q u i r i n g , f o r i t s own a c c o u n t o r f o r t h e a c c o u n t of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t ; s e r v i c i n g l o a n s and o t h e r e x t e n s i o n s of c r e d i t f o r any p e r s o n ; a c t i n g as investment or f i n a n c i a l a d v i s o r , i n c l u d i n g ( i ) s e r v i n g a s t h e a d v i s o r y company f o r a m o r t g a g e o r r e a l e s t a t e i n v e s t m e n t t r u s t and ( i i ) f u r n i s h i n g economic or f i n a n c i a l i n f o r m a t i o n ; and making e q u i t y and d e b t i n v e s t m e n t s i n c o r p o r a t i o n s or p r o j e c t s d e s i g n e d p r i m a r i l y t o promote community w e l f a r e , s u c h a s t h e economic r e h a b i l i t a t i o n and d e v e l o p m e n t of l o w - i n c o m e a r e a s ) t h r o u g h a s u b s i d i a r y known a s L i n c o l n F i r s t R e a l E s t a t e C r e d i t C o r p o r a t i o n , White P l a i n s , New Y o r k . 8-27-71 7 C i t i z e n s B a n c o r p o r a t i o n , Sheboygan, W i s c o n s i n , n o t i f i c a t i o n of i n t e n t t o e n g a g e i n a de novo a c t i v i t y ( l e a s i n g of p e r s o n a l p r o p e r t y ) i n S h e b o y g a n , Sheboygan F a l l s , C e d a r G r o v e , and Plymouth, Wisconsin. 8-25-71 12 Z i o n s Utah B a n c o r p o r a t i o n , S a l t Lake C i t y , U t a h , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of G u a r a n t y I n d u s t r i a l Bank, Loveland, Colorado. Permitted** Ashland Investment C o r p o r a t i o n , Lexington, Kentucky, K e n t u c k y , t o a c q u i r e s h a r e s of K e n t u c k y F i n a n c e C o . , I n c . , Lexington, Kentucky. * * P r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of G o v e r n o r s u n d e r delegated authority. 8-27-71 H.2 1971 No. 35 - 6 - Permitted** (continued) 12 U.S. B a n c o r p . , P o r t l a n d , O r e g o n , t o e n g a g e in a de novo a c t i v i t y ( l e a s i n g of p e r s o n a l p r o p e r t y and equipment, a c t i n g as a g e n t , b r o k e r , or advisor i n t h e l e a s i n g of such p r o p e r t y and i n c i d e n t a l a c t i v i t i e s necessary t h e r e t o ) through a s u b s i d i a r y known a s Bancorp L e a s i n g , I n c . , P o r t l a n d , Oregon. 8-27-71 12 U . S . B a n c o r p . , P o r t l a n d , O r e g o n , t o e n g a g e in a de novo a c t i v i t y ( a c t i n g a s i n v e s t m e n t o r f i n a n c i a l a d v i s o r , i n c l u d i n g a c t i n g as advisory company f o r a m o r t g a g e r e a l e s t a t e i n v e s t m e n t t r u s t , p r o v i d i n g economic or f i n a n c i a l i n f o r m a t i o n , and i n c i d e n t a l a c t i v i t i e s t h e r e t o ) t h r o u g h a s u b s i d i a r y known a s Bancorp Management A d v i s o r s , I n c . , P o r t l a n d , Oregon. 8-27-71 12 Other The F e d e r a l R e s e r v e Bank of San F r a n c i s c o , a c t i n g on b e h a l f of t h e Board of G o v e r n o r s under d e l e gated a u t h o r i t y , delayed the 45-day period f o r p e r m i t t i n g BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , t o e n g a g e i n a de novo a c t i v i t y ( (1) S e r v i n g a s i n v e s t m e n t a d v i s o r s t o BankAmerica Realty Investors, a r e a l e s t a t e investment t r u s t c r e a t e d u n d e r t h e laws of C a l i f o r n i a ; (2) To a d v i s e BankAmerica and i t s a f f i l i a t e s w i t h r e s p e c t t o r e a l e s t a t e i n v e s t m e n t and (3) To e s t a b l i s h and s e l l l i m i t e d p a r t n e r s h i p i n t e r e s t in r e a l e s t a t e s y n d i c a t i o n s and t o p r o v i d e i n v e s t m e n t a d v i c e and management f o r such s y n d i c a t i o n s a s the general p a r t n e r t h e r e o f ) through a subsidiary known a s BankAmerica R e a l t y S e r v i c e s , I n c . , San Francisco, California. ^ P r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of G o v e r n o r s u n d e r delegated authority. 8-25-71 H. 2 1971 No. 35 1 -7- To Expand a Bank H o l d i n g Company P u r s u a n t t o S e c t i o n 4 ( c ) ( 1 2 ) of t h e Bank H o l d i n g Company A c t of 1956 Received Family Finance C o r p o r a t i o n , Wilmington, Delaware, n o t i f i c a t i o n of i n t e n t t o a c q u i r e s h a r e s of Murdock A c c e p t a n c e C o r p o r a t i o n of A l a b a m a , I n c . , A n n i s t o n , Alabama. 8-26-71 7 B e r k s h i r e H a t h a w a y , I n c . , New B e d f o r d , M a s s a c h u s e t t s , n o t i f i c a t i o n of i n t e n t t o a c q u i r e s h a r e s of Home and A u t o m o b i l e I n s u r a n c e Company, C h i c a g o , I l l i n o i s ( c a s u a l t y insurance b u s i n e s s ) , through a s u b s i d i a r y known a s N a t i o n a l I n d e m n i t y Company, Omaha, N e b r a s k a . 8-23-71 7 I n v e s t o r s Growth I n d u s t r i e s , I n c . , M i n n e a p o l i s , M i n n e s o t a , n o t i f i c a t i o n of i n t e n t t o a c q u i r e through s u b s i d i a r i e s s h a r e s of D r . P e p p e r , 7-Up B o t t l i n g Company o f J o p l i n , J o p l i n , M i s s o u r i , N a t i o n a l B e v e r a g e s , I n c . , S a l t Lake C i t y , U t a h , and N o I d , I n c . , Dodge C i t y , Kansas ( a l l s o f t drink companies). 8-23-71 A r i z o n a - C o l o r a d o Land and C a t t l e Company, P h o e n i x , A r i z o n a , n o t i f i c a t i o n of i n t e n t t o a c q u i r e s h a r e s of Farmhand, I n c . , H o p k i n s , M i n n e s o t a . 8-27-71 10 1 Permitted** Family Finance C o r p o r a t i o n , Wilmington, Delaware, to a c q u i r e s h a r e s of the f o l l o w i n g companies: S u b u r b a n Consumer D i s c o u n t C o . , B r o o k h a v e n , Pennsylvania S u b u r b a n Loan S e r v i c e , I n c . , C h e s t e r , P e n n s y l v a n i a S u b u r b a n Loan S e r i v c e , I n c . , D a r b y , P e n n s y l v a n i a 8-25-71 8 The F e d e r a l R e s e r v e Bank of S t . L o u i s , a c t i n g on b e h a l f of t h e Board of G o v e r n o r s , u n d e r d e l e g a t e d a u t h o r i t y , a c c e l e r a t e d t h e 4 5 - d a y p e r i o d by 1 d a y , permitting Olin Corporation, Stamford, Connecticut, to a c q u i r e s h a r e s of S e a t t l e Q u i l t M a n u f a c t u r i n g Co., I n c . , S e a t t l e , Washington. 8-31-71 10 Cemetery S e r v i c e s I n t e r n a t i o n a l , I n c . , P h i l a d e l p h i a , P e n n s y l v a n i a , t o a c q u i r e s h a r e s o f S u n s e t Memorial P a r k , I n c . , S t e r l i n g , C o l o r a d o and S u n s e t M e m o r i a l Park, I n c . , Greeley, Colorado. 8-27-71 * * P r o c e s s e d by R e s e r v e Bank on b e h a l f o f t h e Board of G o v e r n o r s u n d e r delegated authority.
@FedFRASER