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ANNOUNCEMENT BOARD OF GOV E R N O R S OF TH E FE D E R A L R E S E R V E SY S T E M H.2, 1990, No. 48 Ac t i o n s of the Board, its staff, and the Federal Re s e r v e Banks; A p p l i c a t i o n s and Reports Received Duri n g the W e e k E n ding Dec e m b e r l, 1990 ACTIONS TAKEN BY THE BOARD OF GOVERNORS TESTIMONY AND STATEMENTS Economic implications of developments in the Persian Gulf — statement by Chairman Greenspan before the House Committee on Banking* Finance and Urban Affairs* November 28* 1990. Authorized* November 26* 1990. BANK HOLDING COMPANIES Chemical Banking Corporation* New York* New York* and Texas Commerce Bancshares* Inc.* Houston* Texas — to acquire Texas Equity Holdings* Inc.* Wilmington* Delaware* which would acquire Texas CommerceTs subsidiary banks located in Texas. Approved* November 28* 1990. First Community Bancshares* Inc.* Milton* Wisconsin - to acquire Ottawa National Bank. Approved* November 26* 1990. First Hawaiian* Inc.* Honolulu* Hawaii — to acquire First Interstate of Hawaii* Inc.* FIH International* Inc.* and First Interstate Bank of Hawaii. Approved* November 28* 1990. Towerbank Corporation* Miami* Florida — to acquire Key Biscayne Bank and Trust Company* Key Biscayne* Florida. Approved* November 28* 1990. Young Americans Education Foundation* Denver* Colorado — to acquire Young Americans Bank* and to continue to engage in community development activities. Approved* November 26* 1990. BANK PREMISES Johnstown Bank and Trust Company* Johnstown* Pennsylvania — investment in bank premises. Approved* November 26* 1990. BOARD OPERATIONS Budget for 1991. Approved* November 28* 1990. H .2 NOVEMBER 26, PAGE 2 1990 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE BOARD OF GOVERNORS CHANGE IN BANK CONTROL MNC Financial, Inc., Baltimore, Maryland — bank control. Permitted, November 28, 1990. change in ENFORCEMENT Banco de Ponce, Hato Rey, San Juan, Puerto Rico — order of prohibition against Celestino Torres Romero. Authorized, November 26, 1990. Provident Bancorp of Texas, Inc., Dallas, Texas — order of assessment of civil money penalty. Authorized, November 26, 1990. REGULATIONS AND POLICIES Freedom of Information Act Fee Schedule — interim rule increasing fees associated with responding to F0I requests. Proposed, November 27, 1990. Regulation D — amendment to index the low reserve tranche for transaction accounts, the reserve requirement exemption amount, and the reporting cutoff level for 1990. Approved, November 28, 1990. H.2 NOVEMBER 26, 1990 PAGE 3 TO DECEMBER 1, 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 Richmond Bank of Hampton Roads, Chesapeake, Virginia — establish a branch at 712 Liberty Street. Approved, November 27, 1990. to Chicago Comerica Bank - Detroit, Detroit, Michigan — to establish a branch at 3551 Hamlin Road, Auburn Hills, Michigan. Approved, November 28, 1990. Chicago Farmers State Bank of Waupaca, Waupaca, Wisconsin — to establish a branch at 717 Churchill Street. Approved, November 27, 1990. Philadelphia Johnstown Bank and Trust Company, Johnstown, Pennsylvania — to establish a branch at 4 Valley Pike. Approved, November 26, 1990. Secretary Meridian Bank, Reading, Pennsylvania — to establish remote service facilities in the Acme Markets, 101 Bustleton Pike, Feasterville; 1200 Welsh Road, North Wales; and 222 West Main Street, Collegeville, Pennsylvania. Approved, November 29, 1990. Chicago Old Kent Bank and Trust Company, Grand Rapids, Michigan — to establish a branch at 3600 East Fulton Street. Approved, November 30, 1990. New York Trustco Bank New York, Schenectady, New York — to establish two branches at the Wilton Mall, 3065 Route 50, Saratoga Springs, New York. Approved, November 27, 1990. H. 2 NOVEMBER 26, 1990 PAGE 4 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Kansas City American National Corporation, Omaha, Nebraska — proposal to establish American Savings Bank, which would acquire certain assets and assume certain liabilities of the Omaha Branches and the Albion Branch of Heritage Federal Savings Bank of Omaha. Approved, November 30, 1990. Staff Director BS&R American National Corporation, Omaha, Nebraska — proposal that American National Bank purchase the assets and assume the liabilities of American Savings Bank, which was formed to acquire certain assets and assume deposit liabilities of the Omaha and Allison branches of Heritage Federal Savings Bank. Approved, November 30, 1990. Staff Director BS&R Anmer Corporation, Neligh, Nebraska — proposal that Schuyler State Bank & Trust Co., Schuyler, Nebraska, purchase the assets and assume the liabilities of Schuyler Interim Savings & Loan, which was formed to acquire certain assets and assume deposit liabilities of the Schuyler branch of Heritage Federal Savings Bank, Omaha, Nebraska. Approved, November 30, 1990. Kansas City Anmer Corporation, Neligh, Nebraska — proposal to establish Schuyler Interim Savings & Loan, Schuyler, Nebraska, which would acquire certain assets and assume certain liabilities of the Schuyler Branch of Heritage Federal Savings Bank of Omaha, Omaha, Nebraska. Approved, November 30, 1990. Staff Director BS&R Archer, Inc., Palmer, Nebraska, and Osceola Insurance, Inc., Osceola, Nebraska — proposal that The First National Bank of Osceola, Osceola, Nebraska, purchase the assets and assume the liabilities of Osceola Savings and Loan, which was formed to acquire certain assets and assume deposit liabilities of the Osceola branch of Heritage Federal Savings Bank, Omaha, Nebraska. Approved, November 30, 1990. Kansas City Arvada Bank Holding Company, Arvada, Colorado acquire The First National Bank of Arvada. Approved, November 30, 1990. — to H.2 NOVEMBER 26, 1990 PAGE 5 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES San Francisco Banco Nacional de Mexico, Mexico City, Mexico — to engage in data processing through the bankTs Los Angeles agency. Permitted, November 30, 1990. Dallas Bancwest Bancorp, Inc., Austin, Texas — Bank of The West. Returned, November 26, 1990. Dallas B & G Investment Company, San Antonio, Texas — acquire First State Bank, Bandera, Texas. Approved, November 30, 1990. Minneapolis CBT Corporation, Inc., Big Timber, Montana — acquire Citizens Bank & Trust Company. Approved, November 29, 1990. Minneapolis Chandler Bancshares, Inc., Chandler, Minnesota — acquire State Bank of Chandler. Approved, November 29, 1990. Staff Director BS&R Citizens State Bankshares of Bald Knob, Inc., Bald Knob, Arkansas — proposal that Citizens State Bank purchase the assets and assume the liabilities of Bald Knob Federal Savings and Loan Association, which was formed to acquire certain assets and assume deposit liabilities of the Bradford branch of Madison Guaranty Savings and Loan Association, McCroy, Arkansas. Approved, November 30, 1990. S t . Louis Citizens State Bankshares of Bald Knob, Inc., Bald Knob, Arkansas — to acquire Bald Knob Federal Savings and Loan Association, which was formed to acquire the Bradford Branch of Madison Guaranty Savings and Loan Association, McCroy, Arkansas; a bank subsidiary of Citizens State Bankshares of Bald Knob will acquire Bald Knob Federal Savings and Loan Association through a merger. Permitted, November 30, 1990. to acquire to to to H.2 NOVEMBER 26, 1990 PAGE 6 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES San Francisco C. N. Bancorp, Ltd., Taipei, Taiwan, and CNB Bancorp, San Francisco, California — to acquire Alvarado Bank, Richmond, California. Returned, November 27, 1990. Atlanta Community Trust Financial Services Corporation, Hiram, Georgia — to acquire Community Trust Bank. Approved, November 26, 1990. Staff Director BS&R Farmers & Merchants Investment Company, Inc., Lincoln, Nebraska — proposal that Union Bank & Trust Co., purchase the assets and assume the liabilities of Heritage Interim Savings Bank, F.A., which was formed to acquire certain assets and assume deposit liabilities of the David City branch of Heritage Federal Savings Bank, Omaha, Nebraska. Approved, November 30, 1990. Kansas City FCB Corporation, Kansas City, Missouri — proposal that FCB Interim Savings Bank, which would acquire certain assets and assume certain liabilities of Midwest Home Federal Savings Bank, Belleville, Illinois. Approved, November 30, 1990. Kansas City First Bancorp of Durango, Inc., Durango, Colorado to acquire First National Bank of Durango. Approved, November 28, 1990. Dallas First National Bankshares, Inc., Tucumcari, New Mexico — to acquire First Security Trust Company. Returned, November 30, 1990. Kansas City First National of Nebraska, Inc., Omaha, Nebraska — proposal to establish Nebraska Interim Federal Savings I, which would acquire certain assets and assume certain liabilities of the Chadron Branch of FirsTier Savings Bank, FSB, Omaha, Nebraska. Approved, November 26, 1990. S t . Louis First of Searcy, Inc., Searcy, Arkansas — to acquire Citizens Bancshares of Beebe, Inc., Beebe, Arkansas, and Citizens Bank. Approved, November 30, 1990. H.2 NOVEMBER 26, 1990 PAGE 7 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES S t . Louis First State Bancshares, Inc., Farmington, Missouri to acquire First State Bank of St. Francois County Bonne Terre, Missouri. Approved, November 29, 1990. Kansas City Fourth Financial Corporation, Wichita, Kansas — to acquire American State Bank and Trust Company, Great Bejud, Kansas. Approved, November 30, 1990. S t . Louis Glasgow Bancshares Corporation, Glasgow, Kentucky — to acquire Bowling Green Bank & Trust Company, National Association. Approved November 28, 1990. Boston Harbor Financial Corporation, Camden, Maine — acquire Harbor National Bank. Returned, November 30, 1990. Philadelphia Harleysville National Corporation, Harleysville, Pennsylvania — to acquire Citizens National Bank of Lansford, Lansford, Pennsylvania. Approved, November 27, 1990. Chicago Johnson Heritage Bancorp, Ltd., Racine, Wisconsin — to acquire Biltmore Bank Corp., Phoenix, Arizona, and Biltmore Investors Bank, N.A. Approved, November 27, 1990. Chicago Johnson International Bancorp, Ltd., Racine, Wisconsin — to acquire Johnson Heritage Bancorp, Ltd., and Rock County National Bank of Janesville, Janesville; Heritage Bank of Kenosha, Kenosha; Heritage Bank of Mukwonago, Mukwonago; Heritage Bank and Trust, Wine Point; Bank of Hayward, Hayward; and Johnson Heritage Trust Company, Racine, Wisconsin. Approved, November 27, 1990. Philadelphia Keystone Financial, Inc., Harrisburg, Pennsylvania to acquire Ambassador Bank of the Commonwealth, Allentown, Pennsylvania. Approved, November 28, 1990. to H.2 NOVEMBER 26, 1990 PAGE 8 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Minneapolis Krause Financial, Inc. Winnebago, Minnesota — acquire First National Bank in Winnebago. Approved, November 26, 1990. Chicago KSAD, Inc., Council Bluffs, Iowa — Corporation, Omaha, Nebraska. Returned, November 28, 1990. Chicago Mascouten Bancorp, Inc., Beardstown, Illinois — to acquire The First National Bank of Beardstown. Approved, November 28, 1990. Chicago Mid - America National Bancorp, Inc., Chicago, Illinois — to acquire Mid - America National Bank of Chicago, Chicago; Security Chicago Corp.; First Security Bank of Chicago; First State Bancorp of Princeton, Princeton; First State Bank of Princeton; and First Bank & Trust Company, Gridley, Illinois. Returned, November 30, 1990. Chicago Mid America Banks, Inc., Collins, Iowa — to acquire Schroeder Goodenow Management Company, Atlantic, Iowa, and Exchange State Bank, Exira, Iowa. Returned, November 28, 1990. Dallas Morton Financial Corporation, Morton, Texas — to acquire South Plains National Bank, Levelland, Texas. Approved, November 30, 1990. Minneapolis National City Bancorporation, Minneapolis, Minnesota — to acquire Diversified Business Credit, Inc. Returned, November 30, 1990. S t . Louis Old National Bancorp, Evansville, Indiana — to acquire ONB Federal Savings Bank, Henderson, Kentucky, which was formed to acquire Henderson Home Savings & Loan Association, F.A.; a bank subsidiary of Old National Bancorp will acquire ONB Federal Savings Bank through a merger. Permitted, November 30, 1990. to to acquire 304 H.2 NOVEMBER 26, 1990 PAGE 9 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago Preston Bancshares, Inc., Preston, Iowa — to acquire Chadwick Bancshares, Inc., Chadwick, Illinois, and Farmers State Bank of Chadwick and Mount Carroll, Mount Carroll, Illinois. Returned, November 28, 1990. Kansas City SCB Financial Corporation, Smith Center, Kansas — acquire Lull and Rush Agency, Lebanon, Kansas. Approved, November 30, 1990. San Francisco Security Pacific Corporation, Los Angeles, California — request for relief from the anti - tying provisions of the Bank Holding Company Act. Withdrawn, November 26, 1990. Richmond Sterling Bancorp, Baltimore, Maryland — Sterling Bank & Trust Company. Approved, November 27, 1990. Kansas City Sterling Production Credit Association, Sterling, Colorado — registration statement. Withdrawn, November 27, 1990. Staff Director BS&R Union Illinois Company, East St. Louis, Illinois — proposal that Union Bank of East St. Louis, purchase the assets and assume the liabilities of Illinois Street Federal Savings Association, Belleville, Illinois, which was formed to acquire certain assets and assume deposit liabilities of Frontier Federal Savings Bank. Approved, November 29, 1990. S t . Louis Union Illinois Company, East St. Louis, Illinois — to acquire Illinois Street Federal Savings Association (Interim), Belleville, Illinois, which was formed to acquire Frontier Federal Savings Bank; a bank subsidiary of Union Illinois Company will acquire Illinois Street Federal Savings Association through a merger. Approved, November 29, 1990. to to acquire H.2 NOVEMBER 26, 1990 PAGE 10 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Staff Director BS&R United Missouri Bancshares, Inc., Kansas City, Missouri, and FCB Corp., Collinsville, Illinois — proposal that UMB First National Bank purchase the assets and assume the liabilities of FCB Interim Savings Bank, Belleville, Illinois, which was formed to acquire certain assets and assume deposit liabilities of Midwest Home Federal Savings Bank, Belleville, Illinois. Approved, November 30, 1990. Kansas City United Missouri Bancshares, Inc., Kansas City, Missouri — * proposal to establish Interim Federal Savings Bank, Collinsville, Illinois, which would pc.nire certain assets and assume certain \iabilities of Midwest Home Federal Savings Bank, Belleville, Illinois. Approved, November 30, 1990. Chicago Valley Bancorporation, Appleton, Wisconsin — to acquire Exchange State Bank of La Crosse, La Crosse, Wisconsin. Approved, November 30, 1990. Chicago Waterford Bancshares, Inc., Waterford, Wisconsin — to acquire Waterford Bank. Approved, November 28, 1990. Chicago WCN Bancorp, Inc., Wisconsin Rapids, Wisconsin — acquire Community State Bancshares, Inc., and Community State Bank. Returned, November 30, 1990. San Francisco Wells Fargo & Company, San Francisco, California — to acquire Citizens Holdings, Anaheim, California, Citizens Bank of Costa Mesa, Costa Mesa, California, and El Camino Bank, Anaheim, California. Approved, November 30, 1990. to H.2 NOVEMBER 26, 1990 PAGE 11 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK MERGERS Chicago Bank of Lakeview, Lakeview, Michigan — to acquire the Morley Branch of Independent Bank - West Michigan, Rockford, Michigan. Approved, November 30, 1990. Cleveland Ohio Bank, Findlay, Ohio — to merge with Citizens Community Bank, Mount Blanchard, Ohio. Approved, December 1, 1990. BANK PREMISES S t . Louis Arkansas Bank and Trust Company, Hot Springs, Arkansas — investment in bank premises. Approved, November 27, 1990. Chicago Farmers State Bank of Waupaca, Waupaca, Wisconsin — investment in bank premises. Approved, November 27, 1990. Chicago Old Kent Bank and Trust Company, Grand Rapids, Michigan — investment in bank premises. Approved, November 30, 1990. BANKS, STATE MEMBER Kansas City Chemical Bank, Sweet Springs, Missouri — a dividend. Approved, November 28, 1990. payment of Staff Director BS&R Victoria Bank & Trust Company, Victoria, Texas — registration statement. Withdrawn, November 30, 1990. CAPITAL STOCK Chicago Fist State Bancorp of Monticello, Inc., Monticello, Illinois — redemption of shares. Approved, November 30, 1990. Dallas New Boston Bancshares, Inc., New Boston, Texas — redemption of shares. Approved, November 26, 1990. H.2 NOVEMBER 26, 1990 PAGE 12 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Philadelphia First Bath Corp., Bath, Pennsylvania — bank control. Permitted, November 29, 1990. change in Chicago First State Bancorp of Monticello, Inc. — bank control. Permitted, November 30, 1990. Kansas City Front Range Capital Corporation, Lafayette, Colorado — change in bank control. Permitted, November 29, 1990. Kansas City Front Range Capital Corporation, Lafayette, Colorado — change in bank control. Permitted, November 30, 1990. Richmond Harvest Bancorp, Inc., Hamilton, Virginia — in bank control. Permitted, November 30, 1990. Kansas City Pioneer Bank of Longmont, Longmont, Colorado — change in bank control. Permitted, November 30, 1990. Chicago Preston Bancshares, Inc., Preston, Iowa — bank control. Returned, November 28, 1990. Dallas Wellington State Bank, Wellington, Texas — bank control. Permitted, November 29, 1990. Kansas City Yoder Bankshares, Inc., Yoder, Kansas — bank control. Permitted, November 27, 1990. change in change change in change in change in COMPETITIVE FACTORS REPORTS Chicago ANB Corporation, Muncie, Indiana, proposed merger with Muncie Federal Savings and Loan Association — report on competitive factors. Submitted, November 28, 1990. H.2 NOVEMBER 26, 1990 PAGE 13 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Richmond Bank of Southside Virginia, Carson, Virginia, proposed purchase of certain assets and assumption of deposit liabilities of the Dinwiddie, Virginia, branch of First Colonial Bank, F.S.B., Hopewell, Virginia — report on competitive factors. Submitted, November 26, 1990. Dallas Coastal National Bank, Arkansas, Texas, proposed merger with Farmers State Bank, Orange Grove; First National Bank of Ingleside, Ingelside; Island State Bank, Port Arkansas; The International Bank of Corpus Christi, Corpus Christi, Texas — report on competitive factors. wiiirAitted, November 26, 1990. Atlanta Colonial Bank, Lexington, Alabama, proposed merger with First Colonial Bank, Montgomery, Alabama — report on competitive factors. Submitted, November 29, 1990. S t . Louis First Tennessee Bank, National Association, Memphis, Tennessee, proposed merger with Lebanon Bank, Lebanon, Tennessee — report on competitive factors. Submitted, November 27, 1990. Atlanta Fortune Savings Bank, Clearwater, Florida, proposed purchase of certain branches of American Savings and Loan Association of Florida, Miami, Florida, and by the latter to purchase certain branches of Fortune Savings Bank, Clearwater, Florida — report on competitive factors. Submitted, November 27, 1990. Kansas City North American Savings Bank, Grandview, Missouri, proposed acquisition of the assets and assumption of the liabilities of the Grandview, Independence, Park Plaza, and Stateline Branches of United Postal Savings Association, St. Louis, Missouri— report on competitive factors. Approved, November 26, 1990. H.2 NOVEMBER 26, 1990 PAGE 14 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS San Francisco Tri - Valley National Bank, Dublin, California, proposed merger with San Jose National Bank — report on competitive factors. Submitted# November 29# 1990. Chicago Valley American Bank and Trust Company# South Bend# Indiana# proposed merger with Valley Savings Bank# Chesterton# Indiana — report on competitive factors. Submitted# November 28, 1990. EXTENSIONS OF TIME Chicago Bonduel Bancorp# Inc.# Bonduel# Wisconsin — extension to March 5# 1991# to acquire Bonduel State Bank. Granted# November 29, 1990. Chicago Bonduel Bancorp# Inc.# Bonduel# Wisconsin — extension to March 5# 1991# to acquire Bonduel State Bank. Granted# November 29# 1990. S t . Louis Cass Commercial Corporation# St. Louis# Missouri — extension to January 2# 1991# to acquire Cass Commercial Bank of St. Louis. Granted# November 27# 1990. Kansas City Country Bank Shares# Inc.# Milford# Nebraska — extension to January 31# 1991# to acquire Owens Investment Company# Weeping Water# Nebraska. Granted# November 26# 1990. Chicago John Warner Financial Corporation# Clinton# Illinois — extension to February 28# 1991, to acquire The John Warner Bank. Granted# November 30# 1990. Atlanta NBN Corporation# Newport# Tennessee — extension to March 15, 1991# to acquire First Peoples Bancorp# Inc.# Jefferson City# Tennessee# and First Peoples Bank of Jefferson County. Granted# November 29# 1990. H.2 NOVEMBER 26, 1990 PAGE 15 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME Atlanta PBC Bancshares, Inc., Pelham, Georgia — extension to March 3, 1991, to acquire Pelham Banking Company. Granted, November 29, 1990. Atlanta Premier Bancorp, Inc., Baton Rouge, Louisiana — extension to March 18, 1991, to acquire Florida Street National Bank, and engage de novo in loan recovery and collection activities. Granted, November 29, 1990. S t . Louis Prime Banc Corp., Dieterich, Illinois — extension to February 27, 1991, to acquire First National Bank of Dieterich Granted, November 29, 1990. Chicago Principal National Bancorp, Inc., Pontiac, Illinois - extension to March 25, 1991, to acquire The Pontiac National Bank. Granted, November 30, 1990. San Francisco Security Pacific Corporation, Los Angeles, California — extensions to divest certain properties. Granted, November 26, 1990. San Francisco Security Pacific Corporation — certain property. Granted, November 26, 1990. Atlanta Synovus Financial Corp, Columbus, Georgia, and TB&C Bancshares, Inc., — extension to February 14, 1991, to acquire First Coast Community Bank of Fernandina Beach, Florida. Granted, November 29, 1990. extension to divest RESERVE BANK OPERATIONS Director, FRBO Federal Reserve Bank of New York — automation equipment. Approved, November 28, 1990. to purchase H.2 NOVEMBER 26, 1990 PAGE 16 TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY RESERVE BANK SERVICES Director, FRBO Federal Reserve Bank of Minneapolis — to establish 1:30 a.m. Saturday premium deposit deadline for nonlocal checks at the Helena Branch. Approved, November 26, 1990. H.2 NOVEMBER 26, 1990 PAGE 17 ADDITIONS AND CORRECTIONS TO DECEMBER 1, 1990 ACTIONS TAKEN BY THE BOARD OF GOVERNORS REGULATIONS AND POLICIES Delegation to the General Counsel of authority to grant requests for temporary director interlocks under Regulation L (Docket R -0715). Approved, November 5, 1990. ADDITIONS AND CORRECTIONS ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Pearl River Bancorp, Picayune, Mississippi — acquire Pearl River County Bank. Withdrawn, November 2, 1990. to F E D E R A L R E S E R V E B A N K OF B O S T O N A P P L I C A T I O N S S E C T I O N I - A P P L I C A T I O N S S U B J E C T TO N E W S P A P E R N O T I C E ONL Y C o m m e n t P e r i o d E n d i n g Date Application NONE S E C T I O N II - A P P L I C A T I O N S S U B J E C T TO BOT H N E W S P A P E R A N D F E D E R A L R E G I S T E R NO T I C E C o m m e n t P e r i o d E n d i n g Date Application NONE S E C T I O N III ~ A P P L I C A T I O N S S U 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 C o m m e n t P e r i o d E n d i n g Date Application NONE S E C T I O N IV - A P P L I C A T I O N S N O T S U B J E C T 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 NOT I C E A pplication N ONE ♦ Subject to CR A F e d e r a l R e s e r v e B ank o f New Y ork Comment Period Finding Date SECTION I Applications Subject to Newspaper ___________ Notice Only_________ None. SECTION II Applications Subject to Both Newspaper and Federal Register Notice Apple Merger Corp., New York, New York to become a bank holding company by acquiring at least 95 percent of the voting shares of Apple Bancorp, a bank holding company with respect to Apple Bank for Savings, both of New York, New York.l/ 12/26/90 3/ SECTION III Nonbanking Applications (Subject to Federal Register Notice Onlvi Apple Merger Corp., New York, New York to engage de novo in commercial lending activities. N/A Key Corp, Albany, New York and Key Bancshares of Wyoming Inc., Cheyenne, Wyoming, to expand the service area of their subsidiary, The Key Trust Company of the West, Cheyenne, Wyoming to include Idaho and Utah. N/A Saastopankkien Keskus-Osake-Pankki, Helsinki, Finland to acquire Haskell Financing Inc., Dallas Texas, through its subsidiary, USF Holdings, Inc., Dallas, Texas, and thereby to engage in certain lending and leasing activities. N/A Royal Bank of Canada, Montreal, Canada to engage through its subsidiary, RBC Dominion Securities Corporation, New York, New York, in riskless principal transactions. N/A J.P. Morgan & Co. Incorporated, New York, New York to engage de novo in trust ccnpany activities through J.P. Morgan California, LosAngeles, California. N/A SECTION IV Applications Not Involving ______Public Comment______ None. 1/ 2/ 3/ 4/ Subject to provisions of Carawnity 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. FEDERAL R ESE R V E BANK OF PH ILA D ELPH IA SECTION X - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date None* SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL J B K fflg WOT,ICE Comment Period Ending Date Wilmincrbon Trust Corporation* Wilmington, DE to form a bank holding company by acquiring 100% of Wilmington Trust Company, Wilmington, DE, pursuant to Section 3(a)(1) of the Bank Holding Company Act* Newspaper: Federal Register: 12/28/90 12/26/90 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONfrY Comment Period Ending Date Union National Financial Corporation* Mount Joy, PA to engage de novo* through the parent company, in certain community development investments, pursuant to Section 4(c)(8) of the Bank Holding Company Act, and Section 225.25(b)(6) of Regulation Y* 12/26/90 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 B an k o f C le v e la n d Applications Bulletin For Week Ending December 1/ 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 NONE SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Received notice on November 28, 1990 from Independent State Bank of Ohio, Columbus, Ohio, of its intent to redeem 100 percent of its preferred stock outstanding. * # N F - Subject to CRA Exp e c t e d to end approximately 30 days from the date of receipt 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 None. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date None. Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date NCNB Corporation, Charlotte, North Carolina, to engage in brokering leases through its subsidiary, NCNB Capital Markets, Inc., in Charlotte, North Carolina. 12-17-90* Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. *Expiration of comment period specified in the Federal Register. Federal Reserve Bank of Atlanta A p p l i c a t i o n s Bulletin for Week E n ding Nov e m b e r 30. 1990 S e ction I - Application Subject to N e w s paper Notice Only Application Sovran B a n k/Central South Nashville, Tennessee To establish a b r a n c h office at 30 Burton H i l l s Boulevard, Suite 195, Nashville, Tennessee, to be known as the Sovran B a n k/Central Green Hills Private Banking Center. 09-28-90 (CRA) Newspaper Se c t i o n II - Applications Subiect To Both Newspaper and Federal R egister Notice Application Comment Period Ending Date First N ati o n a l Bancshares of West Alabama, Inc. Aliceville, A l a b a m a After-the-fact change in control by Dr. James E r s k i n e J o r d a n to retain shares that increased his ownership from 11.37 percent to 12.50 percent. The increase in ownership is the result of a stock redemption b y First National Bancshares of West Al a b a m a and a stock purchase by Dr. Jordan. CNB Financial Corporation Clewiston, Florida 1-BHC formation, Clewiston National Bank, Clewiston, Florida. Blackshear Bancshares, Inc. Blackshear, Georgia 1-BHC formation, The Blackshear Bank, Blackshear, Georgia, a member bank. 12-26-90 Newspaper 12-14-90 Newspaper 12-27-90 Federal Register Section III - Applications Subject to Federal Register Notice O nly Application Central Bancshares of the South, Inc. Birmingham, Alabama To acquire Trust Company, Houston, Texas, and Trust Corporation, Houston, Texas, t hrough its wholly-owned subsidiary, Compass Bancshares, Inc., Houston, Texas, and engage in trust company activities, pursuant to section 2 2 5 . 2 5 ( b ) (3) of Regulation Y. 12-10-90 F e d e ra l R e se rv e Bank o f C h icag o Section I - Applications Subject to Newspaper Notice Only Type Application Merger/ Branch American Trust & Savings Bank Dubuque, Icwa Comment Period Ending Date N - 11-23-90 Dyersville Branch of Midland Savings Bank, FSB Des Moines, Iowa* Branch Bank of Elmwood Racine, Wisconsin 3900 Erie Street Racine, Wisconsin* N - 12-10-90 Branch The Rock Island Bank Rock Island, Illinois Friendship Manor Retirement Complex 1209 21st Avenue, Rock Island, Illinois* N eft The Rock Island Bank Rock Island, Illinois Building 1, Black Hawk College 6600 34th Avenue, Moline, Illinois* N - 12-7-90 EFT The Rock Island Bank Rock Island, Illinois Econofoods, 4401 27th Street Moline, Illinois* N - 12-7-90 EFT Bankers Trust Company Des Moines, Icwa Kum-N-Go, 60th and Ashworth West Des Moines, Iowa* N - ** - 12-9-90 Section II - Applications Subject to Both Newspaper and Federal Register Notice Ccnment Period Type Application Y-l First Neighborhood Bancshares, Inc. Toledo, Illinois The First National Bank in Toledo Toledo, Illinois* FR - 12-10-90 N - 12-3-90 CoC-HC State Financial Services Corporation Hales Comer, Wisconsin State Financial Services Corporation Enployee Stock Ownership Plan Hales Corner, Wisconsin FR _ 12-5-90 N - 11-30-90 Ending Date F e d e r a l R e se rv e Bank o f C h icag o Section II - Applications Subject to Both Newspaper and Federal Register Notice Continued Garment Period Ending P a te Type Application Y-l Clear Lake Investors, Inc. Mason City, Icwa Clear Lake Bank and Trust Company Clear Lake, Icwa* FR - 12-13-90 N - 12-11-90 Y-l Ameson Bancshares, Inc. Clear Lake, Iowa Clear Lake Bank and Trust Company Clear Lake, Icwa* ♦ FR - ** N - ** Y-2 First State Bancorp of Mcnticello, Inc. Monticello, Illinois Atwood State Bank Atwood, Illinois* CoC-HC Type FR - ** N - ** Continental Mortgage Corporation FR - ** Maywood, Illinois N - ** Nancy K. Kelly & Clay Belongia as, Trustees under Peter D. Giachini Charitable Remainder Trust Section III - Applications Subject to Federal Register Notice Only Comment Period Application Ending nate 4(c)(8) San Bancorp FR - ** Sanborn, Iowa Engage in leasing personal or real property 4(c)(8) Mid-Citco Incorporated Chicago, Illinois Mid-Citco Data Services, Inc. Chicago, Illinois FR - ** F e d e ra l R e se rv e Bank o f C h icag o Section IV - Applications Not Subject to Farfaral Register Notice Or Newspaper w n H r e Type Application None N - Newspaper FR - Federal Register * - Subject to Provisions of Ccnnunity Reinvestment Act ** - Not available at this time November 30, 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 Application End of Comment Period Section 4(c)(8) application by Lincolnland Bancorp, Inc., Dale, Indiana, to engage in general insurance agency activities in a place with a population of less than 5,000 through the acquisition of Ayer-Wagoner Insurance Agency, Inc. and Deal Insurance Agency, Inc., Rockport, Indiana (Not available) SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Stock redemption notification by Milco Bancorporation, Inc., Iberia, Missouri FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to Newspaper Notice Only Comment Period Ending Date Application Montana Bank of Billings Billings, MT To merge with Montana Bank of Baker, Baker, MT; Montana Bank of Bozeman, N.A., Bozeman, MT; Montana Bank of Circle, Circle, MT; Montana Bank of Livingston, Livingston, MT; Montana Bank of Red Lodge, Red Lodge, MT; Montana Bank of Butte, N.A., Butte, MT; Montana Bank of Forsyth, Forsyth, MT; Montana Bank of Mineral County, Superior, MT; Montana Bank of Round up, N.A., Roundup, MT; Montana Bank of South Missoula, Missoula, MT; and Montana Bank of Sidney, Sidney, MT* 11-20-90 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date 0. R. Brancel Revocable Trust To acquire control of 80% of Faith Bank Holding Company, Pierre, SD 12-14-90 (Federal Register) Folden Financial Corporation Hendricks, MN First Security Bank - Hendricks Hendricks, 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 Commercial Banshares, Inc. Mitchell, SD To acquire Spectrum Life Insurance Company, Mitchell, SD Not yet available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application Lake Elmo Bancorp, Inc. Lake Elmo, MN To redeem 15.1% of its voting shares Federal Reserve Bank o f Kansas City S E CTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION North Park Bancshares, Inc., Walden, Colorado, for prior approval to become a bank holding company through the a c q uisition of 88.67 percent of the voting shares of North Park State Bank, Walden, Colorado.* * COMMENT PERIOD ENDING DATE Not Available SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE A P P L I CATION None. *Application is subject to CRA FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF NOVEMBER 26, 1990 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION ** NOTICE EXP Change in Control Notice by John E. Holton, S r ., and John E. Holton, J r . , W ellington, TX, to acquire an in te re s t in Wellington State Bank, W ellington, TX 90/11/21 Section 3(a)(1) a p p lica tio n by T .I.B . Delaware, In c., Wilmington, DE, to acquire G u lf Shores Bank, Crystal Beach, TX; Bank of the West, Galveston, TX; F ir s t State Bank of Hitchcock, Hitchcock, TX; and G ulf National Bank of Texas C ity , Texas C ity , TX 90/12/23 Section 3(a)(1) a p p lica tio n by H.M.S. Holdings, In c., San Antonio, TX, to acquire C astle H ills National Bank, San Antonio, TX 90/12/24 Section 3(a)(1) a p p lica tio n by Cedar Creek Bancshares, In c., Seven Points, TX, to acquire Cedar Creek Bank, SevenP o in ts, TX 90/12/18 Section 3(a)(1) a p p lica tio n by TFBC A cq u isitio n Corporation, D a lla s, TX, to acquire Tahoka F ir s t Bancorp, In c., D a lla s, TX; Cedar Creek Bank, Seven P o in ts, TX; and F ir s t National Bank of Tahoka, Tahoka, TX 90/12/21 Section 3(a)(3) a p p lica tio n by Ford Bank Group, In c., Lubbock, TX, to acquire MBank Waco, N.A., Waco, TX 90/12/11 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 FRANCISCO Week ending 11/30/90 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 NONE Section III - Applications Sub.iect to Federal Register Notice Only The Sumitomo Bank, Limited, Osaka, Japan, to engage in discount brokerage and financial advisory activities on a separate and combined basis; private placement activities; riskless principal transactions; and underwriting and dealing in bank-eligible securities through Sumitomo Bank Securities, Inc., New York, New York. Fed. Reo.: Not yet published Philippine Commercial International Bank, Los Angeles, California, to engage in receiving money for transmission to a foreign country through PCI Express Padala, Inc., Los Angeles, California. Fed. Reo.: Not yet published Security Bank Holding Company, Coos Bay, Oregon, to engage in making, selling, acquiring or servicing loans or other extensions of credit through Security Mortgage Company, Coos Bay, Oregon. Fed. Rea.: 12/26/90 Security Bank Holding Company, Coos Bay, Oregon to engage in the sale of data processing, consulting and sale of hardware and software through Security Data Processing Company, Coos Bay, Oregon. Fed. Reo.: 12/26/90 Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice North Pacific Bancorporation, Tacoma, Washington, to redeem 291 shares of it's outstanding common stock. * Subject to CRA.
@FedFRASER