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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1987, No. 50 ACTIONS OF THE BOARD APPLICATIONS AND REPORTS RECEIVED DURING THE WEEK ENDING DECEMBER 12, 1987 ACTIONS OF THE BOARD Proposed revisions issued to the official staff commentary for three consumer credit protection regulations— Regulation B (Equal Credit Opportunity), Regulation E (Electronic Fund Transfers), and Regulation Z (Truth in Lending) New York Community National Interim Bank and Trust Company of New York, Staten Island, New York, proposed merger with Community National Bank and Trust Company of New York— report to the Comptroller of the Currency on competitive factors.1/ New York Morgan Guaranty Trust Company of New York, New York— extension to December 24, 1988, to establish branch offices in Sao Paulo, Brazil, and Rio de Janeiro.1/ Richmond Dominion Bankshares Corporation, Roanoke, Virginia— extension to February 20, 1988, to acquire First Springfield National Corporation, Springfield, Tennessee.1/ Atlanta American Bank of Polk County, Lake Wales, Florida— investment in bank premises.1/ Atlanta Local Investors, Inc., Unadilla, Georgia— extension to March 29, 1988, to acquire Citizens Bank, Vienna, Georgia.1/ Atlanta Summit Bank Corporation, Atlanta, Georgia— extension to March 10, 1988, to acquire Summit National Bank.l/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 2 ACTIONS OF THE BOARD - CONTINUED Atlanta Sea Island Bank, Statesboro, Georgia, proposed merger with SIB Interim Corporation— report to the Federal Deposit Insurance Corporation on competitive factors.1/ Chicago Commercial Bank, Greenville, Michigan— extension to March 8, 1988, to establish a branch in the 5800 block of South Greenville Road, Greenville, Michigan.1/ St. Louis Morgan Community Bancorp, Inc., Jacksonville, Illinois— extension to January 25, 1988, to acquire Morgan County Community Bank.l/ St. Louis M & F Capital Corporation, Macon, Mississippi— extension to March 13, 1988, to aquire Merchants and Farmers Bank, Macon, Mississippi.1/ St. Louis First National Bank of Nokomis, Nokomis, Illinois, proposed merger with Second National Bank of Nokomis, an interim bank— report to the Comptroller of the Currency on competitive factors.1/ Minneapolis Victoria State Bank, Victoria, Minnesota— investment in bank premises.1/ Kansas City International Brotherhood of Boilmakers, Iron _Ship Builders, Blacksmiths, Forgers and Helpers— extension to January 9, 1988, to acquire Brotherhood Bank & Trust Company.1/ Kansas City Community Bancshares, Inc., Grants, New Mexico— extension to February 7, 1988, to acquire Grants State Bank.l/ Dallas Texas American Bank/Westlake, N.A., Austin, Texas, proposed merger with Texas American Bank/Austin, N.A.— report to the Comptroller of the Currency on competitive factors.1/ Dallas First Coleman Bancshares, Inc., Coleman, Texas— extension to January 15, 1988, to acquire First Coleman National Bank of Coleman.1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 3 ACTIONS OF THE BOARD - CONTINUED San Francisco First Interstate Bancorp, Los Angeles, California— extension to March 28, 1988, to acquire Allied Bancshares, Inc., Houston, Texas.1/ San Francisco Valley Bank & Trust Company, Salt Lake City, Utah— extension to divest certain property.1/ * * * * * APPLICATIONS AND NOTIFICATIONS FOR INTERNATIONAL INVESTMENTS AND OTHER ACTIONS PURSUANT TO SECTIONS 25 and 25(a) OF THE FEDERAL RESERVE ACT AND SECTIONS 4(c)(9), 4(c)(13) and 4(c)(14) OF THE BANK HOLDING COMPANY ACT OF 1956, AS AMENDED FORTY-FIVE DAY NOTIFICATION PERIOD ALLOWED TO EXPIRE New York Citibank, N.A., New York, New York— no objection to make an additional investment in Citibank Aktiebolag, Stockholm, Sweden. (11/21/87) * * * * * TO ESTABLISH A DOMESTIC BRANCH PURSUANT TO SECTION 9 OF THE FEDERAL RESERVE ACT RETURNED Chicago Chemical Bank and Trust Company, Midland, Michigan— to establish a branch at 232 W. Midland Road, Auburn, Michigan. (12/1/87) Chicago Old Kent Bank of Kentwood, Kentwood, Michigan— to relocate its branch office from 3175 - 28th Street, S.E., Kentwood, Michigan, to 4433 Breton Road, S.E., Kentwood, Michigan. (12/9/87) APPROVED New York Chemical Bank, New York, New York— to establish a branch at Prudential-Bache Securities, Inc., 100 Gold Street, New York, New York.1/ (12/8/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 4 ACTIONS OF THE BOARD - CONTINUED New York Chemical Bank, New York, New York— to establish branch offices at the American Stock Exchange, 86 Trinity Place, New York, New York and at the Harris Corporation, 6801 Jericho Turnpike, Syosset, Nassau County, New York.1/ (12/11/87) Richmond Citizens Bank and Trust Company, Blackstone, Virginia— to establish a branch at the intersection of Route 38 and Church Street, Amelia, Virginia.1/ (12/10/87) Richmond Pace American Bank, Lawrenceville, Virginia— to establish a branch at the Brunswick Square Shopping Center, Highway 58W, Lawrenceville, Virginia.1/ (12/10/87) San Francisco Fanners & Merchants Bank of Rockford, Spokane, Washington— to establish a branch at West 818 Riverside, Lincoln Building, City and County of Spokane,, State of Washington.1/ (12/11/87) * * * * * TO MERGE PURSUANT TO SECTION 18(c) OF THE FEDERAL DEPOSIT INSURANCE ACT APPROVED Chicago Lapeer County Bank & Trust Co., Lapeer, Michigan— to merge with Lapeer Interim Bank, Lapeer, Michigan.1/ (12/11/87) Dallas Texas Capital Bank - Fort Bend, Richmond, Texas— to merge with BancFirst Austin, N.A., Austin, Texas.1/ (12/10/87) * * * * * TO FORM A BANK HOLDING COMPANY PURSUANT TO SECTION 3(a)(1) OF THE BANK HOLDING COMPANY ACT OF 1956 APPROVED Richmond Albright Bancorp, Inc., Kingwood, West Virginia— for approval to acquire 100 percent of the voting shares of Albright National Bank of Kingwood, Kingwood, West Virginia.1/ (12/11/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 ACTIONS OF THE BOARD - CONTINUED Kansas City Sunwest Acquisition Corp., Albuquerque, New Mexico— for approval to acquire 100 percent of the voting shares of American Southwest Bancshares, Inc., El Paso, Texas and indirectly American Bank of Commerce, El Paso, Texas and American Bank of Commerce-East, El Paso, Texas.1/ (12/9/87) Kansas City Sunwest Merger Corporation, Albuquerque, New Mexico— for approval to acquire 100 percent of the voting shares of American Southwest Bancshares, Inc., El Paso, Texas and indirectly American Bank of Commerce, El Paso, Texas and American Bank of Commerce-East, El Paso, Texas.1/ (12/9/87) * * * * * TO EXPAND A BANK HOLDING COMPANY PURSUANT TO SECTION 3(a)(3) OF THE BANK HOLDING COMPANY ACT OF 1956 WITHDRAWN Boston Suffield Financial Corporation, Suffield, Connecticut— for approval to acquire 6.8 percent of the voting shares of Lexington Savings Bank, Lexington, Massachusetts. (12/9/87) APPROVED Cleveland First National Cincinnati Corporation, Cincinnati, Ohio— for approval to acquire Aurora First National Bancorp, Aurora, Indiana and indirectly First National Bank of Aurora, Aurora, Indiana.1/ (12/10/87) St. Louis Union Planters Corporation, Memphis, Tennessee— for approval to acquire an additional 15.21 percent of the voting shares of Bank of East Tennessee, Knoxville, Tennessee.1/ (12/10/87) Kansas City Sunwest Financial Services, Inc., Albuquerque, New Mexico— for approval to acquire 100 percent of the voting shares of 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 6 ACTIONS OP THE BOARD - CONTINUED American Southwest Bancshares, Inc., El Paso, Texas and indirectly American Bank of Commerce, El Paso, Texas and American Bank of Commerce-East, El Paso, Texas.1/ (12/9/87) * * * * * TO EXPAND A BANK HOLDING COMPANY PURSUANT TO SECTION 4(c)(8) OP THE BANK HOLDING COMPANY ACT OF 1956 RETURNED San Francisco Fresno Bancorp, Fresno, California— for approval to acquire Builder's Mortgage Company, Fresno, California and thereby engage in mortgage lending activities. (12/10/87) APPROVED New York The HongKong and Shanghai Banking Corporation, Hong Kong; Kellet N.V., Curacao, Netherland Antilles; HSBC Holdings B.V., Amsterdam, The Netherlands and Marine Midland Banks, Inc., Buffalo, New York— for approval to acquire a joint venture interest in Subaru Credit Corporation, Buffalo, New York, which proposes to engage in consumer and commercial automotive financing, including lease financing. (12/9/87) St. Louis Centerre Bancorporation, St. Louis, Missouri— for approval to aquire through its subsidiary, Benefit Plan Services, Inc., Maryland Heights, Missouri, substantially all the assets and assume certain liabilities of Reed Employee Benefit Services, Inc., Maryland Heights, Missouri. (12/7/87) Kansas City Sunwest Financial Services, Inc., Albuquerque, New Mexico— for approval to expand its credit related insurance underwriting and agency activities to serve the proposed banking subsidiaries.1/ (12/9/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. H-2j 1987, No. 50 7 ACTIONS OF THE BOARD - CONTINUED PERMITTED Boston Amity Bancorp, Inc., New Haven, Connecticut— to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made be a consumer finance company) through its subsidiary, Amity Loans, Inc., New Haven, Connecticut. These activities will be conducted in the State of Colorado.3/ (12/11/87) Boston Cenvest, Inc., Meriden, Connecticut— to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a commercial finance company).3/ (12/11/87) New York National Westminster Bank pic, London, England and NatWest Holdings, Inc., New York, New York— to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company) through County NatWest International Securities, Inc., New York, New York.3/ (12/11/87) New York Skandinaviska Enskilda Banken, Stockholm, Sweden— to engage de novo engaging in full pay-out personal and real property leasing) through subsidiaries or other corporations. These activities will be conducted throughout the United States.3/ (12/11/87) Atlanta Commerce National Corporation, Winter Park, Florida— to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a commercial finance company). The activities will be conducted throughout the State of Florida.3/ (12/10/87) Chicago Northern Trust Corporation, Chicago, Illinois— to engage de novo (providing investment advice to any person; acting as a futures commission merchant on major 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 8 ACTIONS OF THE BOARD - CONTINUED commodity exchanges with respect to futures contracts on bullion, foreign exchange, government securities, certificates of deposit, and certain other money market instruments) through its subsidiary, Northern Futures Corporation, Chicago, Illinois.3/ (12/7/87) * * * * * REDEMPTION OF SHARES APPROVED Kansas City American Bancorporation, Inc., Sapulpa, Oklahoma.1/ (12/9/87) * * * * * ISSUED INTENT TO DISAPPROVE CHANGE OF CONTROL PURSUANT TO CHANGE IN BANK CONTROL ACT OF 1978 APPROVED Kansas City American State Bancshares, Inc., Broken Bow, Oklahoma.1/ (12/7/87) Kansas City Southeastern Oklahoma Bancorporation, Inc., Boswell, Oklahoma.1/ (12/8/87) * * * * * l/ Applicationprocessed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H-2, 1987, No. 50 9 ACTIONS OF THE BOARD - CONTINUED APPLICATIONS AND NOTIFICATIONS FOR INTERNATIONAL INVESTMENTS AND OTHER ACTIONS PURSUANT TO SECTIONS 25 and 25(a) OF THE FEDERAL RESERVE ACT AND SECTIONS 4(c)(9), 4(c)(13) and 4(c)(14) OF THE BANK HOLDING COMPANY ACT OF 1956, as amended RECEIVED Boston Bank of Boston Corporation, Boston, Massachusetts— to make an investment in Bank of Boston Securities Limited, London, England through its subsidiary, Boston Overseas Holding Corporation. New York Chemical International Finance, Ltd., New York, New York— to make an additional investment in Chemical New York Capital Markets Corporation Geneva, S.A., Geneva, Switzerland through The Bank of New Providence, Nassau, Bahamas. San Francisco Bank of America National Trust and Savings Association, San Francisco, California— prior notice of its intent to make an additional investment in and subordinated loan to MISR America International Bank. ***** TO ESTABLISH A DOMESTIC BRANCH PURSUANT TO SECTION 9 OF THE FEDERAL RESERVE ACT RECEIVED Richmond Central Fidelity Bank, Richmond, Virginia— to establish a branch at Chesterfield Meadows Shopping Center South, Route 10 and Centralia Road, Chester, Virginia.2/ Richmond Central Fidelity Bank, Richmond, Virginia— to establish a branch at 201 West 21st Street, Norfolk, Virginia.2/* ***** 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H-2, 1987, So. 50 10 ACTIONS OF THE BOARD - CONTINUED TO MERGE PURSUANT TO SECTION 18(c) OF THE FEDERAL DEPOSIT INSURANCE ACT RECEIVED Chicago Chemical Bank and Trust Company, Midland, Michigan— to merge with Chemical Bank Bay Area, Bay City, Michigan.2/ Dallas BancFirst Austin, N.A., Texas— to merge with Texas Capital Bank - Fort Bend, Richmond, Texas.2/ Dallas Citizens Frost Bank, N.A., San Antonio, Texas; Colonial Frost Bank, N.A., San Antonio, Texas; Liberty Frost Bank, N.A., San Antonio, Texas and North Frost Bank, N.A., San Antonio, Texas— to merge with The Frost National Bank of San Antonio, San Antonio, Texas.2/ Dallas Stemmons Northwest Bank, N.A., Dallas, Texas— to merge with Bank of Las Colinas, N.A., Irving, Texas.2/ * * * * * TO BECOME A MEMBER OF THE FEDERAL RESERVE SYSTEM PURSUANT TO SECTION . 9 OF THE FEDERAL RESERVE ACT RECEIVED St. Louis Kentucky Independent Bank, Inc., Frankfort, Kentucky.2/ * * * * * TO FORM A BANK HOLDING COMPANY PURSUANT TO SECTION 3(a) (1) OF THE BANK HOLDING COMPANY ACT OF 1956 RECEIVED Richmond City National Bancorporation, Inc., Washington, D.C.— for approval to acquire 100 percent of the voting shares of City National Bank of Washington, Washington, D.C., a proposed new bank.2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H-2, 1987, No. 50 11 ACTIONS OF THE BOARD - CONTINUED St. Louis Homestate Bancorp, Inc., Indianapolis, Indiana— for approval to acquire 100 percent of the voting shares of Salem Bancorp, Inc., Salem, Indiana and indirectly The State Bank of Salem, Salem, Indiana.2/ St. Louis Southern Development Bancorporation, Inc., Little Rock, Arkansas— for approval to acquire at least 92.21 percent of the voting shares of Elk Horn Bancshares, Inc., Arkadelphia, Arkansas and indirectly Elk Horn Bank and Trust Company, Arkadelphia, Arkansas.2/ Kansas City Fairland Holding Company, Inc., Neosho, Missouri— for approval to acquire 79.95 percent of the voting shares of First National Bank of Fairland, Fairland, Oklahoma.2/ Kansas City First Jones Bancorporation, Inc., Jones, Oklahoma— for approval to acquire 95.73 percent of the voting shares of First State Bank, Jones, Oklahoma.2/ ***** TO EXPAND A BANK HOLDING COMPANY PURSUANT TO SECTION 3(a)(3) OF THE BANK HOLDING COMPANY ACT OF 1956 RECEIVED Philadelphia Franklin Financial Services Corporation, Chambersburg, Pennsylvania— for approval to acquire 100 percent of the voting shares of The Mont Alto State Bank, Mont Alto, Pennsylvania.2/ Kansas City Buffalo Bancshares, Inc., Buffalo, Oklahoma— for approval to acquire 100 percent of the voting shares of The First State Bank of Gage, Gage, Oklahoma.2/ Kansas City FirstBank Holding Company of Colorado, Lakewood, Colorado— for approval to acquire 100 percent of the voting shares of FirstBank of Republic Plaza, N.A., Denver, Colorado, a proposed new bank.2/* ***** 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H-2, 1987, No. 50 12 ACTIONS OF THE BOARD - CONTINUED TO EXPAND A BANK HOLDING COMPANY PURSUANT TO SECTION 4(c) (8) OF THE BANK HOLDING COMPANY ACT OF 1956 RECEIVED Boston Bank of New England Corporation, Boston, Massachusetts— to engage de novo (selling credit life, disability, or involuntary unemployment insurance) through its subsidiary, Conifer Life Insurance Company, Inc., Phoenix, Arizona. The geographic area to be served will be Massachusetts; Connecticut; Maine; Rhode Island; New Hampshire and Vermont. (12/7/87) New York National Westminster Bank pic, London, England and NatWest Holdings, Inc., New York, New York— for approval to acquire Washington Analysis Corporation, Washington, D.C. and thereby to engage in certain nonbanking activities. Cleveland Mount Sterling National Holding Corporation, Mount Sterling, Kentucky— to engage de novo (issuing and retail selling of money orders and similar consumer payment instruments with a face value not more than $1,000) through its subsidiary, Independence Financial, Inc., Mount Sterling, Kentucky. (12/8/87) Atlanta -SunTrust Banks, Inc., Atlanta, Georgia— to engage de novo in certain financial and management advisory activities. Chicago Marshall & Ilsley Corporation, Milwaukee, Wisconsin— to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a commercial finance company) through its subsidiary, Richter Schroeder Company, Inc., Milwaukee, Wisconsin. (12/8/87) San Francisco Fresno Bancorp, Fresno, California— for approval to acquire Builder's Mortgage Company, Fresno, California and thereby engage in mortgage lending activities. San Francisco U.S. Bancorp, Portland, Oregon— for approval to acquire Sheppard Financial Services, Inc., Seattle, Washington and thereby engage in investment advisory services and providing securities brokerage services.
@FedFRASER