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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (H.2, 1980 No. 50) A c t i o n s of t h e Board; A p p l i c a t i o n s and Reports Received During the Week Ending December 13, 1980 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD R e g u l a t i o n D amendments—with r e s p e c t to the period during which a l i m i t e d number of t e l e p h o n e or p r e a u t h o r i z e d t r a n s f e r s can be made in an account without c a u s i n g the account to become s u b j e c t to a r e s e r v e requirement on transaction accounts. (Docket No. R-0336) Consumer Advisory C o u n c i l , e i g h t new members named f o r t h r e e - y e a r t e r m s , the d e s i g n a t i o n of a new Chairman and Vice Chairman to r e p l a c e members whose terms have e x p i r e d . Mr. James McAfee appointed as A s s i s t a n t S e c r e t a r y of t h e Board, e f f e c t i v e December 15. Richmond American S e c u r i t y Bank, N.A., Washington, D.C. , r e q u e s t i n g p e r m i s s i o n to accept commercial d r a f t s or b i l l s of exchange up to 100 percent of i t s c a p i t a l and s u r p l u s . \j Dallas B r o w n f i e l d Bancshares, I n c . , B r o w n f i e l d , Texas, e x t e n s i o n of time t o January 31, 1981, w i t h i n which to consummate the a c q u i s i t i o n of B r o w n f i e l d S t a t e Bank & Trust C o . , Brownf i e l d , Texas. \ j San Francisco F i r s t S e c u r i t y C o r p o r a t i o n , S a l t Lake C i t y , Utah, e x t e n s i o n of time to A p r i l 29, 1981, w i t h i n vtiich to consummate the a c q u i s i t i o n of F i r s t S e c u r i t y Bank of S t . George, N . A . , S t . George, Utah, a proposed new bank, Philadelphia Girard Bank, Bala Cynwyd, P e n n s y l v a n i a , r e q u e s t to i n c r e a s e i t s l e v e l of bankers a c c e p t e n c e s o u t s t a n d i n g up to 100 percent of i t s paid-up c a p i t a l and s u r p l u s . JL/ San Francisco United C a l i f o r n i a Bank, Los A n g e l e s , C a l i f o r n i a , i s s u a n c e of a subordinated c a p i t a l n o t e . \J Kansas C i t y Bank of Neosho, Neosho, M i s s o u r i , r e q u e s t i n g permission t o i n v e s t in bank premises. 1/ 1/ A p p l i c a t i o n p r o c e s s e d on behlaf of the Board of Governors unde ^ delegated authority. H.2, 1980 No. 50 - 2 - ACTIONS OF THE BOARD-Continued Bos ton Connecticut extension establish Guilford, Philadelphia Orrstown Bank, Orrstown, Pennsylvania, investment in bank premises. V Atlanta Bank of the South, Forest Park, Georgia, proposed merger with Bank of Forest Park, Forest Park, and Bank of the South, R i v e r d a l e , Georgia; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . 1/ Chicago C i t i z e n s State Bank, K i e l , Wisconsin, a p p l i c a t i o n for prior approval to c o n s o l i d a t e with The Glenbeulah S t a t e Bank, Glenbeulah, Wisconsin, under the charter and t i t l e of C i t i z e n s S t a t e Bank, K i e l , Wisconsin; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/ Chicago Montgomery County Bank, C r a w f o r d s v i l l e , Indiana, a p p l i c a t i o n for p r i o r approval to merge w i t h E l s t o n Bank & Trust Company, C r a w f o r d s v i l l e , Indiana, under the charter and t i t l e of E l s t o n Bank & Trust Company, C r a w f o r d s v i l l e , Indiana; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . JJ Chicago Tri-County Bank & Trust Company, Roachdale, Indiana, a p p l i c a t i o n f o r p r i o r approval to merge w i t h Putnam County Bank, Roachdale, Indiana, under the charter and t i t l e of T r i County Bank & Trust Company, Roachdale, Indiana; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . 1/ 1/ Bank and Trust Company, Hartford, Connecticut, of time to December 25, 1980, within which to a branch in the v i c i n i t y of the Shoreline Plaza, Connecticut. 1/ A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. H.2, 1980 No. 50 - 3 ACTIONS OF THE BOARD-Continued To E s t a b l i s h a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Ph i l a d e l p h i a Approved Girard Bank, Bala Cynwyd, Pennsylvania, To e s t a b l i s h an e l e c t r o n i c f a c i l i t y at the Shop n Bag, Castor and Sedgley Avenues, P h i l a d e l p h i a , Pennsylvania; and at U n i v e r s i t y P l a z a , 3901 Market S t r e e t , P h i l a d e l p h i a , Pennsylvania. If & 2/ Philadelphia Orrs town Bank, Orrstown, Pennsylvania. Branch to be e s t a b l i s h e d at the corner of Lurgan Avenue and Oak Lane, Shippensburg, Pennsylvania. JL/ & 2/ Cleveland The C i t i z e n s Commercial Bank & Trust Company, C e l i n a , Ohio. Branch to be e s t a b l i s h e d at 124 East F a y e t t e S t r e e t , C e l i n a , Ohio. J.] & 2/ Richmond F i r s t V i r g i n i a Bank - South C e n t r a l , Brookneal, V i r g i n i a . Branch to be e s t a b l i s h e d at U.S. Route 501 and S t a t e Route 4 0 , Brookneal, V i r g i n i a . If & 2f Richmond Union Trust Company of Maryland, Baltimore, Maryland. Branch to be e s t a b l i s h e d at Shady Grove Road near i t s i n t e r s e c t i o n with S t a t e Route 355, Montgomery County, Maryland . _1 / & 2/ Kansas City Bank of Neosho, Neosho, Missouri. Branch to be e s t a b l i s h e d at Rangeline and 53d S t r e e t (Southern H i l l s Drive) in the V i l l a g e of Leawood, Missouri, jl/ & 2/ San Francisco United C a l i f o r n i a Bank, Los Angeles, C a l i f o r n i a . Branch t o be e s t a b l i s h e d in the v i c i n i t y of the i n t e r s e c t i o n of Olympic Boulevard and Main S t r e e t , Los Angeles, C a l i f o r n i a . JV & 2j Cleveland Killbuck Savings Bank Company, Killbuck, Ohio. Branch to be e s t a b l i s h e d at the northwest corner bordering s t a t e Route 241, Mount Hope, Holmes County, Ohio. 1/ & 2/ 17 2/ A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the l e n g t h of the comment period. h.2, 1980 No. 50 - 4 ACTIONS OF THE BOARD-Continued Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Atlanta Not Disapproved Florida Coast Banks, I n c . , Lighthouse P o i n t , F l o r i d a . J L / Kansas City Bank of Windsor, Winsdor, Colorado. JL/ Dallas C i t i z e n s S t a t e Bank, Hugo, Oklahoma. 1/ * * * * * To Become a Member of the Federal Reserve System Pursuant t o S e c t i o n 9 of the Federal Reserve Act Dallas Approved Texas S t a t e Bank, McAllen, Texas. * * * * * To E s t a b l i s h a U.S. Branch of an Edge Act Corporation Pursuant t o S e c t i o n 25(a) of the Federal Reserve Act Chicago Approved Continental Bank I n t e r n a t i o n a l , Chicago, I l l i n o i s : grants consent to e s t a b l i s h and operate branches in Cleveland, Ohio; D a l l a s , Texas; Minneapolis, Minnesota; P h i l a d e l p h i a , Pennsylvania; San Francisco, C a l i f o r n i a ; and S e a t t l e , Washington. * * * * * To E s t a b l i s h an Overseas Branch of a Member Bank Pursuant t o S e c t i o n 25 of the Federal Reserve Act Atlanta 1J Approved Flagship National Bank of Miami, Miami, Florida: grants permission to e s t a b l i s h a branch in George Town, Grand Cayman, B r i t i s h West I n d i e s . A p p l i c a t i o n processed on behalf of the Board of Governors under delegated aut hori ty. H.2, 1980 No. 50 - 5 ACTIONS OF THE BOARD-Cont inued Dallas The American National Bank of A u s t i n , A u s t i n , Texas: grants permission to e s t a b l i s h a branch in the Grand Cayman I s l a n d s , B r i t i s h West I n d i e s . * * * * * To Organize, or Invest i n , a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant t o S e c t i o n 25 or 25(a) of the Federal Reserve Act Atlanta Approved Banco Consolidado, C.A., Caracas, Venezuela and F i r s t National Bank of Greater Miami, Miami, Florida: grants consent t o form an Edge Corporation in New York, New York to be named Consolidado I n t e r n a t i o n a l Bank to be j o i n t l y owned. * * * * * A p p l i c a t i o n s and N o t i f i c a t i o n s for I n t e r n a t i o n a l I n v e s t ments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of the Bank Holding Company Act of 1956, as amended New York New York S i x t y Day N o t i f i c a t i o n Period Allowed to Expire C i t i b a n k , N.A. , New York, New York: no o b j e c t i o n to make an a d d i t i o n a l investment in the c o n v e r t i b l e debentures of Far East Bank Limited, Hong Kong. Citibank Overseas Investment Corporation, Wilmington, Delaware: no o b j e c t i o n to make an a d d i t i o n a l investment in C i t i c o r p y Rio-Banco de Inversion S . A . , Buenos A i r e s , Argentina. H.2, 1980 No. 50 — 6 ACTIONS OF THE BOARD-Continued To Form a Bank Holding Company Pursuant to Section 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956 Atlanta Approved Southwest S e c u r i t y , I n c . , Natchez, M i s s i s s i p p i , for approval to acquire at l e a s t 80 percent of the v o t i n g shares of F i r s t Natchez Bank, Natchez, M i s s i s s i p p i . 1/ & 2/ Chicago CAARGO Financial Corporation, B e n t o n v i l l e , Indiana, f o r approval to acquire at l e a s t 51.6 percent of the v o t i n g shares of B e n t o n v i l l e State Bank, B e n t o n v i l l e , Indiana. J7 & 2/ S t . Louis Harrisburg Bancshares, I n c . , Harrisburg, I l l i n o i s , for approval to acquire 87.73 percent of the v o t i n g shares of The Harrisburg National Bank, Harrisburg, I l l i n o i s . \J & 21 Minneapolis Clara City Bancorporation, I n c . , Clara City, Minnesota, f o r approval to acquire 96 percent of the v o t i n g shares of Clara City S t a t e Bank, Clara C i t y , Minnesota. I/ & 2/ Minneapolis Great P l a i n s Bank Corporation, Eureka, South Dakota, for approval to acquire at l e a s t 98 percent of the voting shares of Eureka S t a t e Bank, Eureka, South Dakota. 1/ & 2/ Minneapolis Green Lake Bancorporat ion, I n c . , S p i c e r , Minnesota, f o r approval to acquire at l e a s t 82.6 percent of the voting shares of Green Lake State Bank, S p i c e r , Minnesota. JL_/ & 2/ Minneapolis Nimrod E n t e r p r i s e s , I n c . , Foley, Minnesota, for approval to acquire at l e a s t 94.2 percent of the v o t i n g shares of State Bank of Foley, Foley, Minnesota. 1/ & 2/ Minneapolis Pipestone Bancshares, I n c . , P i p e s t o n e , Minnesota, f o r approval to acquire 8 7 . 5 7 percent of the v o t i n g shares of The F i r s t National Bank of Pipestone, P i p e s t o n e , Minnesota. JJ & 2/ Kansas City COMMERCE BANCORPORATION, INC., McLoud , Oklahoma, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of Bank of Commerce, McLoud, Oklahoma. 1/ & 2/ \J 2/ Application processed on behalf of the Board of Governors under delegated aut hori t y . A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1980 No. 50 - 7 ACTIONS OF THE BOARD-Continued To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956 Atlanta Chicago Approved M u l t i - L i n e , Inc. , Tampa, F l o r i d a , for approval to acquire an a d d i t i o n a l 10.3 percent of the v o t i n g shares of F i r s t F l o r i d a Banks, I n c . , Tampa, F l o r i d a . 2/ Asco, I n c . , Rock Rapids, Iowa, f o r approval to r e t a i n 10,7 percent of the v o t i n g shares and to acquire up to 9 7 . 8 percent of the v o t i n g shares of Rock Rapids S t a t e Bank, Rock Rapids, Iowa. JL/ & 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956 Chicago New York S t . Louis 1/ 2/ 3/ Approved CAARGO F i n a n c i a l Corporation, B e n t o n v i l l e , Indiana, for approval to engage in the s a l e of general insurance through the a c q u i s i t i o n of Olin W. D a v i s , I n c . , B e n t o n v i l l e , Indiana, a community with l e s s than 5,000 p o p u l a t i o n . \J Withdrawn C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage in de novo a c t i v i t i e s (underwriting d i r e c t l y or as r e i n s u r e r c r e d i t l i f e and c r e d i t accident and health insurance d i r e c t l y r e l a t e d to extensions of c r e d i t by C i t i c o r p ' s lending s u b s i d i a r i e s ) in Pennsylvania, through i t s i n d i r e c t s u b s i d i a r y , Family Guardian L i f e Insurance Company ( 1 2 / 9 / 8 0 ) 3/ Delayed C i t i z e n s F i d e l i t y Corporation, L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s ( l e a s ing of personal property and equipment and a c t i n g as agent, broker or adviser in the l e a s i n g of such property i n a A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the l e n g t h of the comment period. 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . H.2, 1980 No. 50 8 - ACTIONS OF THE BOARD-Continued manner such that the l e a s i n g would serve as a functional equivalent of an extension of c r e d i t ) in S t . Louis, Missouri, Western Kentucky and I l l i n o i s , through a subs i d i a r y , F i d e l i t y Leasing Corporation ( 1 2 / 1 1 / 8 0 ) 3/ Kansas City C.C.B., I n c . , Denver, Colorado; Central Colorado Company, Denver, Colorado; and Central Bancorporat ion, I n c . , Denver, Colorado, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s ( t o engage in i n d u s t r i a l banking a c t i v i t i e s through Central I n d u s t r i a l Bank, Aurora, Colorado ( 1 2 / 1 0 / 8 0 ) 3/ San Francisco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , not i f i c a tio n of i n t e n t to engage i n de novo a c t i v i t i e s ( ( 1 ) making or acquiring real e s t a t e r e l a t e d loans and other e x t e n s i o n s of c r e d i t , for i t s own account or for the account of o t h e r s ; (2) s e r v i c i n g the loans and extensions of c r e d i t described i n (1) above; (3) a c t i n g as an i n v e s t ment adviser to Wells Fargo Mortgage and Equity Trust (a r e a l e s t a t e investment t r u s t ) , other a f f i l i a t e s of Wells Fargo & Company and other i n v e s t o r s with respect to r e a l e s t a t e investment p o r t f o l i o ; (4) providing f u l l payout l e a s i n g of real property or acting as agent, broker, or adviser in arranging such l e a s e s to the extent permitted by S e c t i o n 225.4 ( a ) ( 6 ) ( b ) of Regulation Y of the Federal Reserve Board; and (5) providing bookkeeping or data processing s e r v i c e s r e l a t e d to real e s t a t e investments of Wells Fargo & Company and i t s a f f i l i a t e s ) in A t l a n t a , Georgia, through i t s s u b s i d i a r y , Wells Fargo Realty Advisers ( 1 2 / 8 / 8 0 ) 3 / San Francisco Zions Utah Bancorporation, S a l t Lake C i t y , Utah, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in lending and c r e d i t r e l a t e d l i f e , h e a l t h and a c c i d e n t , property damage, and l i a b i l i t y insurance a s s o c i a t e d with lending a c t i v i t i e s ) in Pueblo, Colorado, through a w h o l l y owned s u b s i d i a r y , Pueblo 1st I n d u s t r i a l Bank ( 1 2 / 1 1 / 8 0 ) 3/ New York 3/ Reactivated C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage in de novo a c t i v i t i e s ( i n conducting p r e v i o u s l y approved a c t i v i t i e s i n c l u d i n g , making or acquiring loans and other extensions of c r e d i t , secured or unsecured, 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . H.2, 1980 No. 50 - 9ACTIONS OF THE BOARD-Continued f o r consumer and other purposes; purchasing and s e r v i c i n g for i t s own account s a l e s finance c o n t r a c t s ; the e x t e n s i o n of loans to dealers for the financing of inventory ( f l o o r planning) and working c a p i t a l purposes; a c t i n g as agent for the s a l e of c r e d i t l i f e and c r e d i t accident and health insurance d i r e c t l y r e l a t e d to e x t e n s i o n s of c r e d i t ; the new a c t i v i t y to be conducted i s the s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and personal property subject to a s e c u r i t y agreement with C i t i c o r p Person-to-Person F i n a n c i a l Center, Inc. and to the extent permissible under applicable S t a t e insurance laws and r e g u l a t i o n s ; the new a c t i v i t y w i l l be o f f e r e d in the p r e v i o s u l y approved s e r v i c e area for the o f f i c e t*iich covers the e n t i r e S t a t e s of Indiana, Michigan and Kentucky) at 8604 A l i i s o n v i l i e Road, I n d i a n a p o l i s , Indiana, through i t s s u b s i d i a r y , C i t i c o r p Person-to-Person Financial Center, I n c . ( 1 2 / 1 1 / 8 0 ) 3/ Kansas City Boston New York 37 ~~ Plaza Management Company, B a r t l e s v i l l e , Oklahoma, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o cont i n u e to engage in the s a l e of c r e d i t r e l a t e d insurance) ( 1 2 / 9 / 8 0 ) 3/ Permitted I n d u s t r i a l National Corporation, Providence, Rhode I s l a n d , n o t i f i c a t i o n of intent to continue to engage in a c t i v i t i e s pr e v i o s u l y commenced de novo ( r e t e n t i o n of mortgage loans extended by Westminster P r o p e r t i e s , I n c . and subsequently t r a n s f e r r e d to I n d u s t r i a l National Mortgage Corporation) from o f f i c e s in Providence, Rhode I s l a n d , through i t s subs i d i a r y , I n d u s t r i a l National Mortgage Company ( 1 2 / 8 / 8 0 ) 3/ C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( i n conducting previously approved a c t i v i t i e s i n c l u d i n g , making or a c q u i r i n g , loans and other e x t e n s i o n s of c r e d i t , secured or unsecured, for consumer and other purposes; purchasing and s e r v i c i n g f o r i t s own account s a l e s finance c o n t r a t s ; the extension of loans to dealers for the financing of inventory ( f l o o r planning) and working c a p i t a l purposes; a c t i n g as agent f o r the s a l e of c r e d i t l i f e and c r e d i t accident and h e a l t h insurance d i r e c t l y r e l a t e d to e x t e n s i o n s of c r e d i t ; the 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . H.2, 1980 No. 50 - 10 ACTIONS OF THE BOARD-Continued new a c t i v i t y to be conducted i s the s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and personal property subject to a s e c u r i t y agreement with C i t i c o r p Person-to-Pe rson F i n a n c i a l Center, I n c . and to the extent permissible under a p p l i c a b l e State insurance laws and r e g u l a t i o n s ; the new a c t i v i t y w i l l be o f f e r e d in the previously approved s e r v i c e area for the o f f i c e which covers the e n t i r e S t a t e s of Indiana, Michigan and Kentucky) at 8604 A l l i s o n v i l l e Road, S u i t e 130, I n d i a n a p o l i s , Indiana, through i t s s u b s i d i a r y , C i t i c o r p Person-to-Person Financial Center, Inc. ( 1 2 / 1 2 / 8 0 ) 3/ Cleveland Hungtinton Bancshares Corporation, Columbus, Ohio, n o t i f i c a tio n of i n t e n t to engage i n de novo a c t i v i t i e s (underwriting, as r e i n s u r e r , c r e d i t r e l a t e d l i f e , accident and h e a l t h i n surance) at 1421 East Thomas Road, Phoenix, Arizona, through a s u b s i d i a r y , S c i o t o L i f e Insurance Company ( 1 2 / 8 / 8 0 ) _3/ Chicago Central Nat ional Bancshares, I n c . , De s Moines, Iowa, not i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (to engage i n providing management c o n s u l t i n g advice on an e x p l i c i t f e e and noncontinuing b a s i s to n o n a f f i l i a t e d banks) to be conducted at the o f f i c e s of Central National Bancshares, I n c . , Des Moines s Iowa ( 1 2 / 8 / 8 0 ) 3/ Chicago Country Bank Shares Corp., J a n e s v i l l e , Wisconsin, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (to cont i n u e to act as agent or broker in the s a l e of general insurance in a community of l e s s than 5 , 0 0 0 population) from an o f f i c e in The Mont el lo S t a t e Bank, 24 West S t r e e t , Montello, Wisconsin ( 1 2 / 9 / 8 0 ) 3/ Chicago Suburban Bancorp, I n c . , P a l a t i n e , I l l i n o i s , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (to engage in mortgage banking a c t i v i t i e s ) at 50 North Brockway, P a l a t i n e , I l l i n o i s , through a subsidiary, Suburban Mortgage Corporation (12/11/80) V Kansas City Plaza Management Company, B a r t l e s v i l l e , Oklahoma, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (to continue to engage in the s a l e of c r e d i t l i f e , accident and health insurance) ( 1 2 / 1 0 / 8 0 ) 3 / 37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . ft.2, 1980 No. 50 - 11 ACTIONS OF THE BOARD-Cont iriued Kansas City United Missouri Bancshares, I n c . , Kansas C i t y , Missouri, not i f i c a t i o n of intent to engage in de novo a c t i v i t i e s ( t o engage in the s a l e of c r e d i t l i f e , c r e d i t accident and h e a l t h insurance, mortgage protection l i f e insurance, and mortgage p r o t e c t i o n d i s a b i l i t y insurance) at an o f f i c e on the premises of United Missouri Bank of Ferguson, Ferguson, Missouri, through a s u b s i d i a r y , United Missouri Mortgage Company ( 1 2 / 1 0 / 8 0 ) 3 / San Franci sco Security P a c i f i c Corporation, Los Angeles, C a l i f o r n i a , not i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making or acquiring, f o r i t s own account or f o r the account of o t h e r s , loans and e x t e n s i o n s of c r e d i t including making consumer installment personal loans, purchasing consumer i n s t a l l m e n t s a l e s finance c o n t r a c t s , making loans to small b u s i n e s s e s and other extensions of c r e d i t such as would be made by a f a c t o r i n g company or a consumer finance company; and a c t i n g as broker or agent for the SSie or c r e d i t l i f e , healtii 3-nd—aCc i de nt insurance) at 125 Main - S t r e e t , "Hooker-Fulton Bui 1 ding ,f Srsurord, Pennsylvania, through i t s i n d i r e c t s u b s i d i a r y , S e c u r i t y P a c i f i c Consumer Discount Company ( 1 2 / 1 1 / 8 0 ) 3/ San Francisco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( a c t i n g as agent for c r e d i t property, c a s u a l t y and homeowners i n surance and a s s o c i a t e d l i a b i l i t y insurance related to e x t e n s i o n s of c r e d i t or the provision of other f i n a n c i a l s e r v i c e s ) in S c o t t s d a l e , Arizona, through i t s s u b s i d i a r y , Wells Fargo Insurance S e r v i c e s ( 1 2 / 1 3 / 8 0 ) 3/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 1 2 ) of the Bank Holding Company Act of 1956 Chicago 3? Permitted STEEG0 Corporation, West Palm Beach, F l o r i d a , n o t i f i c a t i o n of i n t e n t to acquire c e r t a i n of the a s s e t s of South Trail Auto P a r t s , I n c . , Fort Meyers, Florida ( 1 2 / 1 1 / 8 0 ) 3 / 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . I H. 2, 1980 No. 50 - 1 2 - APPLICATIONS RECEIVED To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of the Federal Reserve Act Cleveland The C i t i z e n s Commercial Bank & Trust Company, Celina, Ohio. Branch to be e s t a b l i s h e d at 124 East Fayette S t r e e t , Celina, Ohio. 2] At lant a Exchange Bank and Trust Company of F l o r i d a , Tampa, F l o r i d a . Branch to be e s t a b l i s h e d at 4003 Neptune S t r e e t , Tampa, F l o r i d a . 2/ Atlanta F i r s t Georgia Bank, A t l a n t a , Georgia. Branch to be e s t a b l i s h e d at 3529 Chamblee Tucker Road, Charablee, Georgia. 2/ Chicago C i t i z e n s Commercial & Savings Bank, F l i n t , Michigan. Branch to be e s t a b l i s h e d in the v i c i n i t y of Holly Plaza Branch, F l i n t , Michigan. 2j San Franci sco Columbia P a c i f i c Bank a Trust C o . , Portland, Oregon. Branch™^ e s t a b l i s h e d at N.W. 21 sT and Columbia Boulevard, Port land , Oregon. z./A * * * * * To Become a Member of the Federal Reserve System Pursuant to S e c t i o n 9 of the Federal Reserve Act Richmond Bank of Powhatan, Powhatan, V i r g i n i a . * * * * * To E s t a b l i s h a U.S. Branch of an Edge Act Corporation Pursuant t o S e c t i o n 25(a) of the Federal Reserve Act Boston 2/ The F i r s t National Bank of Boston, Boston, Massachusetts r e q u e s t s consent for Bank of Boston International of New York, New York, New York to e s t a b l i s h a branch in Chicago, I l l i n o i s . A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvetment O f f i c e r of the applicable Reserve Bank may be contacted as to the length of the comment period. H. 2, 1980 No. 50 - 13 APPLICATIONS RECEIVED-Continued Boston The F i r s t National Bank of Boston, Boston, Massachusetts: r e q u e s t s consent for Bank of Boston I n t e r n a t i o n a l of Miami, Miami, Florida to e s t a b l i s h a branch in D a l l a s , Texas. * * * * * To Organize, or Invest i n , a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant to S e c t i o n 25 or 25(a) of the Federal Reserve Act Richmond F i r s t Union National Bank of North Carolina, C h a r l o t t e , North Carolina: for approval to organize an Edge Act Corporation to be named F i r s t Union I n t e r n a t i o n a l Banking Corporation of North Carolina, C h a r l o t t e , North Carolina and to e s t a b l i s h a branch in New York C i t y . * * * * * To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956 Cleveland Peoples Bancorp of Lincoln County, I n c . , H u s t o n v i l l e , Kentucky, for approval to acquire 80.59 percent of the v o t i n g shares of The Peoples Bank of H u s t o n v i l l e , H u s t o n v i l l e , Kentucky. 2/ Atlanta American City Bancorp, I n c . , Tullahoma, Tennessee, f o r approval to acquire at l e a s t 80 percent of t h e voting shares of American City Bank of Tullahoma, Tullahoma, Tennessee. 2/ Atlanta Financial Growth Systems, I n c . , I n v e r n e s s , F l o r i d a , f o r approval to acquire 100 percent of the v o t i n g shares of C i t i z e n s F i r s t National Bank of Citrus County, I n v e r n e s s , F l o r i d a ; C i t i z e n s F i r s t National Bank of Crystal River, Crystal River, Florida; and Lake County Bank, Leesburg, F l o r i d a . 2/ 27 ~~ A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the length of the comment period. I H.2, 1980 No. 50 - 1 4 APPLICATIONS RECEIVED-Cont inued Atlanta F i r s t J e f f e r s o n Corporation, B i l o x i , M i s s i s s i p p i , f o r approval to acquire at l e a s t 80 percent of the v o t i n g share of The J e f f e r s o n Bank, B i l o x i , M i s s i s s i p p i . At lant a F i r s t Southern Bancshares, I n c . , Mt. J u l i e t , Tennessee, for approval to acquire 80 percent of the v o t i n g shares of Bank of Mt. J u l i e t , Mount J u l i e t , Tennessee. 2J Chicago FIRST LINCOLNWOOD CORP., Lincolnwood, I l l i n o i s , f o r approval to acquire at l e a s t 80 percent of the voting shares of The F i r s t National Bank of Lincolnwood, Lincoln wood, I l l i n o i s . 2/ Chicago Montfort Bancorporation, I n c . , P l a t t e v i l l e , Wisconsin, f o r approval to acquire 80 percent or more of the v o t i n g shares of C i t i z e n s State Bank, Mont f o r t , Wisconsin. 2J Chicago Tri-County Bancorp. , Roachdale, Indiana, for approval to acquire 100 percent of the v o t i n g shares ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of the successor by merger to T r i County Bank & Trust Company, Roachdale, Indiana. 2/ Chicago WEST BROOK BANCSHARES, INC., Westchester, I l l i n o i s , for approval to acquire at l e a s t 80 percent of the v o t i n g shares of West Brook Bank, Westchester, I l l i n o i s . 7J S t . Louis F i r s t of Searcy, I n c . , Searcy, Arkansas, f o r approval to acquire 80 percent of the v o t i n g shares of F i r s t S e c u r i t y Bank, Searcy, Arkansas. 7J Minneapolis Borresen Investments, I n c . , Westbrook, Minnesota, for approval to acquire at l e a s t 80 percent of the v o t i n g shares o f Westbrook S t a t e Bank, Westbrook, Minnesota. 2 / Kansas City Arapahoe Financial Corp., Arapahoe, Nebraska, f o r approval to acquire 100 percent of the v o t i n g shares of C i t i z e n s State Bank, Arapahoe, Nebraska. 2/ Kansas City Choctaw Bancorp, I n c . , Choctaw, Oklahoma, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of Choctaw S t a t e Bank, Choctaw, Oklahoma. 2/ 2/ A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the length of the comment period. H. 2, 1980 No. 50 15 APPLICATIONS RECEIVED-Cont inued Kansas City Exchange Holding, I n c . , El Dorado, Kansas, f o r approval to acquire 100 percent of the v o t i n g shares of Exchange I n v e s t o r s , I n c . , El Dorado, Kansas and i n d i r e c t l y acquire F i r s t National Bank & Trust Company, El Dorado, Kansas. 2/ Kansas City F i r s t Community Bancshares, I n c . , Lone Grove, Oklahoma, for approval to acquire 100 percent of the v o t i n g shares of F i r s t Community Bank of Lone Grove, Lone Grove, Oklahoma. 2/ Kansas City Mid-Nebraska Bancshares, I n c . , Ord, Nebraska, f o r approval to acquire 100 percent of the v o t i n g shares of Nebraska S t a t e Bank, Ord, Nebraska. 2/ Kansas City Mulvane Bancshares, I n c . , Mulvane, Kansas, for approval t o acquire 81 percent of the v o t i n g shares of The Mulvane S t a t e Bank, Mulvane, Kansas. 2/ Kansas City Sidney National Corporation, Sidney, Nebraska, f o r approval to acquire at l e a s t 80 percent of the v o t i n g shares of Sidney National Bank, Sidney, Nebraska. 2/ Kansas City Sweet Springs Bancshares, I n c . , Sweet Springs, Missouri, f o r approval to acquire at l e a s t 80 percent of the v o t i n g shares of Chemical Bank, Sweet Springs, M i s s o u r i . 2J San Franci sco BSD Bancorp, I n c . , San Diego, C a l i f o r n i a , f o r approval to acquire 100 percent of the v o t i n g shares of The Bank of San Diego, San Diego, C a l i f o r n i a . 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956 Kansas City 2/ F i r s t Community Bancorporation, J o p l i n , Missouri, f o r approval to acquire 80 percent of the v o t i n g shares of Merchants and Miners Bank of Webb City, Webb City, M i s s o u r i . 2/ A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be contacted as to the l e n g t h of the comment period. i H.2, 1980 No. 50 - 1 6 - APPLICATIONS RECEIVED-Cont inued Kansas City F i r s t New Mexico Bankshare Corporation, Albuquerque, New Mexico, for approval to acquire 100 percent of the voting shares of Southwest National Bank, Hobbs, New Mexico. 2j Dal las Southwest Bancshares, Inc. , Houston, Texas, for approval to acquire 100 percent of the v o t i n g shares of Texas Bank of Beaumont, Texas, Beaumont, Texas. 2/ San Fran ci sco The Sumitomo Bank, Limited, Osaka, Japan, f o r approval to acquire an a d d i t i o n a l 13.734 percent of the v o t i n g shares of Central P a c i f i c Bank, Honolulu, Hawaii. 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 5 ) of the Bank Holding Company Act of 1956 Kansas City The Wyoming National Corporation, Casper, Wyoming, f o r approval to merge with F i r s t Bankshares of Wyoming, Cheyenne, Wyoming. 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956 New York 2/ 3/ C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (personal and b u s i n e s s lending a c t i v i t i e s i n c l u d i n g , but not l i m i t e d t o , the making, acquiring and s e r v i c i n g of loans and other e x t e n s i o n s of c r e d i t to i n d i v i d u a l s and b u s i n e s s e n t e r p r i s e s ; such s e r v i c i n g may include c r e d i t review, b i l l i n g , c o l l e c t i o n a c t i v i t i e s , account adjustment and r e l a t e d s e r v i c e s performed in conjunction with the proposed lending a c t i v i t i e s ) at 211 Perimeter Center parkway, S u i t e 800, A t l a n t a , Georgia, through i t s s u b s i d i a r y , C i t i c o r p P r i v a t e C a p i t a l , Inc. ( 1 2 / 5 / 8 0 ) 3 / A p p l i c a t i o n subject to Community Reinvestment Act. The Community Reinvestment O f f i c e r of the applicable Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment period• 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . h . 2 , 1980 No. 50 - 17 APPLICATIONS RECEIVED-Continued New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (commercial lending a c t i v i t i e s and l e a s i n g personal or real property or acting as agent, broker, or adviser in l e a s i n g such property subject to a l l of the q u a l i f i c a t i o n s s p e c i f i e d in 12 C.F.R. 2 2 5 . 4 ( a ) ( 6 ) ( a ) and (b) where the l e a s e s serve as the functional equivalent of an e x t e n s i o n of c r e d i t to the l e s s e e of the property) at Cherry Creek Plaza, I I , 650 South Cherry S t r e e t , 5th F l o o r , Denver, Colorado, through i t s s u b s i d i a r y , C i t i c o r p (USA), Inc. ( 1 2 / 1 2 / 8 0 ) 3/ New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (purchasing for i t s own account and s e r v i c i n g s a l e s finance c o n t r a c t s ; the sale of c r e d i t r e l a t e d l i f e and accident and h e a l t h or dec r e a s i n g or l e v e l ( i n the case of s i n g l e payment loans) term l i f e insurance by l i c e n s e d agents or brokers, as required; making or acquiring, loans and other extensions of c r e d i t , secured or unsecured, for consumer and other purposes; and the e x t e n s i o n of loans to dealers for the f i n a n c i n g of inventory ( f l o o r planning) and working c a p i t a l purposes; c r e d i t related l i f e , a c c i d e n t , and h e a l t h insurance may be w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e of C i t i c o r p P e r s o n - t o Person F i n a n c i a l Center, I n c . ) at 8133 Leesburg Pike, Vienna, V i r g i n i a , through i t s s u b s i d i a r y , Citicorp Person-to-Person F i n a n c i a l Center, Inc. ( 1 2 / 1 2 / 8 0 ) 3/ New York Manufacturers Hanover Corporation, New York, New York, not i f i c a t i o n of i n t e n t to r e l o c a t e de novo a c t i v i t i e s (consumer finance and s a l e s finance a c t i v i t i e s and the s a l e of insurance r e l a t e d to such lending a c t i v i t i e s ) from 213 Johnston B u i l d i n g , C h a r l o t t e , North Carolina to Suite 120, 5430 North Tyron S t r e e t , C h a r l o t t e , North Carolina, through i t s s u b s i d i a r y , Termplan Incorporated of North Carolina ( 1 2 / 1 2 / 8 0 ) 3/ At l a nta Florida Commercial Banks, I n c . , Miami, F l o r i d a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (provide data processing s e r v i c e s to Commercial Bank of Vero Beach, Vero Beach, Florida) ( 1 2 / 1 / 8 0 ) 3/ t 3/ 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . I . z , iVtfO No. 50 - 18 APPLICATIONS RECEIVED-Cont inued Chicago Continental I l l i n o i s Corporation, Chicago, I l l i n o i s , n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s in the State of I l l i n o i s (making or acquiring, f o r i t s own account or for the account of o t h e r s , secured and unsecured loans and other extensions of c r e d i t and s e r v i c i n g such loans and other e x t e n s i o n s of c r e d i t ) through Continental I l l i n o i s Commercial Corporation ( 1 1 / 2 4 / 8 0 ) 3J Minneapolis Chippewa V a l l e y Agency, L t d . , Winger, Wisconsin, for approval to continue to engage in general insurance a c t i v i t i e s through Winter Insurance Agency, Winter, Wisconsin, a community with l e s s than 5,000 population. Kansas City Mid-Nebraska Bancshares, I n c . , Ord, Nebraska, for approval to acquire 90 percent of Ord Agency, I n c . , Ord, Nebraska and thereby engage in general insurance agency a c t i v i t i e s . San Franci sco BankAmerica Corporation, San Francisco, C a l i f o r n i a , n o t i f i cation of intent to engage in de novo a c t i v i t i e s (making loans and other extensions of c r e d i t and acquiring loans, p a r t i c i p a t i o n s in l o a n s , and other e x t e n s i o n s of c r e d i t such as would be made or acquired by a finance company; such a c t i v i t i e s would i n c l u d e , but not be l i m i t e d t o , inventory and accounts r e c e i v a b l e f i n a n c i n g ; l e a s i n g f i nancing; equipment f i n a n c i n g ; insurance premium f i n a n c i n g ; making loans to n o n - a f f i l i a t e d finance and leasing companies secured by pledges of accounts r e c e i v a b l e of such companies; making other loans secured by real or personal property and purchasing r e t a i l i n s t a l l m e n t s a l e s c o n t r a c t s ; in a d d i t i o n , BA Commerical Corporation a l s o proposes to engage in the a d d i t i o n a l a c t i v i t i e s of s e r v i c i n g l o a n s , p a r t i c i p a t i o n s of loans and other extensions of c r e d i t for i t s e l f and others in c o n n e c t i o n with e x t e n s i o n s of c r e d i t made or acquired by BA Commercial Corporation) in A t l a n t a , Georgia, through i t s i n d i r e c t s u b s i d i a r y , BA Commercial Corporation (a Pennsylvania Corporation) ( 1 2 / 9 / 8 0 ) 3J * * * * * REPORTS RECEIVED None. 3/ 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegatd a u t h o r i t y . H.2, 1980 No. 50 - 19 APPLICATIONS RECEIVRD-Continued PETITIONS FOR RULEMAKING None. 1
@FedFRASER