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H.2, ANNOUNCEMENT 1990, NO. 50 Actions of the Board, its Staff, and RESEARCH LIBRARY the Federal Reserve Banks; BOARD OF GOVERNORS Applications and Reports Received OF THE FEDERAL RESERVE SYSTJ||i g jg DjL|j:ag'jg the Week Ending December 15, 1990 FEDERAL RESERVE BANK ACTIONS TAKEN BY THE BOAftP (Q£v$QXBBNORS I M K H0LPIN6 COMPANIES Firstar Corporation# Milwaukee# Wisconsin — to acquire Banks of Iowa# Inc.# Des Moines# Iowa# and B0ITs subsidiary banks and nonbanking subsidiaries. Approved# December 14# 1990. Mitsui Bank# Limited# Tokyo# Japan# and The Taiyo Kobe Bank# Limited# Kobe# Japan — order for public meeting concerning application to convert Taiyo Kobe Bank and Trust Company# New York# New York into a commercial bank. Authorized# December 14# 1990. Mitsui Taiyo Kobe Bank# Limited# Tokyo# Japan — to engage in interest rate and currency swaps# options on swaps# and private placement activities through Mitsui Taiyo Kobe Global Capital# Inc.# New York# New York. Approved# December 10# 1990. NCNB Corporation# Charlotte# North Carolina — to acquire De Novo NCNB Florida Federal Savings Bank# IV# Tampa# Florida# which was formed to acquire the assets and assume the liabilities of two branches of American Savings and Loan Association# Miami# Florida# and for NCNB to merge De Novo Savings into NCNB National Bank of Florida# Tampa# Florida. Approved# December 10# 1990. ISMS Annual and Quarterly Reports of Repurchase Agreements on U.S. Government and Federal Agency Securities with Specified Holders CFR 2090a and FR 2090q) — extension. Proposed# December 11# 1990. Application for Membership in the Federal Reserve System (FR 2083 through FR 2083E) — extension with revision. Approved# December 10# 1990. H.2 DECEMBER 10, 1990 PAGE 2 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE BOARD OP GOVERNORS FORMS Demand Deposit Ownership Survey (FR 2591) — discontinue. Proposed, December 11, 1990. to Form for Registration as a Transfer Agent (FR TA-1) — extension. Approved, December 10, 1990. Report by Banks Proposing to Amortize Losses on Qualified Agricultural Loans (FR 4020) — extension. Approved, December 10, 1990. Report of Selected Deposits in Foreign Branches Held By U.S. Addressees (FR 2050) — extension with revision. Proposed, December 11, 1990. Reports Related To Securities of State Member Banks as Required By Regulation H — extension. Approved, December 10, 1990. Weekly Report of Assets and Liabilities for Large Banks (FR 2416) and the Weekly Report of Selected Assets (FR 2644) extension with revision. Proposed, December 11, 1990. INTERNATIONAL OPERATIONS Chase Manhattan Overseas Banking Corporation, Wilmington, Delaware — to make an investment in The Chase Manhattan Bank of Canada, Toronto, Canada• Permitted, December 10, 1990. REGULATIONS AND POLICIES Foreign government treatment of U.S. companies operating in government debt markets abroad — determination under the Primary Dealers Act of 1988 pertaining to Germany. Approved, December 12, 1990. H.2 DECEMBER 10, 1990 PAGE 3 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE BOARD OF GOVERNORS REGULATIONS AND POLICIES Rules Regarding Delegation of Authority — delegation to Reserve Banks to approve the issuance and redemption of capital notes and to approve investments in bank premises by State member banks. Approved, December 12, 1990. RESERVE BANK OPERATIONS Budgets for 1991. Approved, December 12, 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 New York Chemical Bank, New York, New York — to establish a branch at Lenox Hill Hospital, 100 East 77th Street. Approved, December 12, 1990. Chicago De Motte State Bank, De Motte, Indiana — to establish a branch at the northside of East Commercial Avenue at the intersection of Joe Martin Road, Lowell, Indiana. Approved, December 14, 1990. H.2 DECEMBER 10, 1990 PAGE 4 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES. DOMESTIC Richmond First Virginia Bank* Falls Church* Virginia — to establish a branch at 12435 Dillingham Square* Woodbridge* Virginia. Approved, December 12* 1990. Chicago Rock Island Bank* Rock Island* Illinois — to establish a branch at Friendship Manor Retirement Complex* 1209 21st Avenue. Approved* December 11* 1990. Chicago Rock Island Bank* Rock Island* Illinois — to establish offsite electronic facilities at Econofoods* 4401 27th Street* Moline; and Building 1* Black Hawk College* 6600 34th Avenue. Approved* December 11* 1990. E/^IK HOLDING COMPANIES Staff Director BS&R BankAmerica Corporation, San Francisco, California — proposal that Bank of America Nevada* Reno* Nevada, purchase the assets and assume the liabilities of BAN Interim Federal Savings Bank* Las Vegas, Nevada* which was formed to acquire certain assets and assume deposit liabilities of Frontier Savings Association. Approved, December 14, 1990. Secretary BankAmerica Corporation* San Francisco* California — proposal that BAN Interim Federal Savings Bank, Las Vegas* Nevada* acquire certain assets and assume certain liabilities of Frontier Savings Association* and engage in the operation of a savings association. Approved, December 14* 1990. Staff Director BS&R Boatmen's Bancshares, Inc., St. Louis, Missouri — proposal that The BoatmenTs National Bank of St. Louis* St. Louis* Missouri* purchase the assets and assume the liabilities of Boatmen1s Interim Federal Savings Bank* which was formed to acquire certain assets and assume deposit liabilities of Community Federal Savings and Loan Association. Approved* December 14* 1990. H.2 DECEMBER 10, 1990 PAGE 5 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BMK HPWINg COMPANIES S t . Louis I n c . , St. Louis# Missouri — proposal that BoatmenTs Interim Federal Savings Bank acquire Community Savings and Loan Association. Approved # December 14# 1990. Atlanta Brannen Acquisition Corp.# Inverness# Florida — acquire Brannen Banks of Florida. Withdrawn# December 10# 1990. Staff Director BS&R Bright Financial Services, Inc., Flora, Indiana proposal that Bright National Bank# Flora# Indiana# purchase the assets and assume the liabilities of Bright Savings Bank# F.S.B.# which was formed to acquire certain assets and assume deposit liabilities of the Burlington# Delphi# Lafayette Greenbush# and Rossville branches of Hometown Federal Savings Bank. Approved# December 14» 1990. Staff Director BS&R Business Banc of America, Inc., Wichita, Kansas proposal that Citizens Bank and Trust Company# Abilene# Kansas# purchase the assets and assume the liabilities of Citizens Interim Savings Ass.# Wichita# Kansas# which was formed to acquire certain assets and assume deposit liabilities of the of the Wichita branch of First Federal Savings Bank of Kansas# Wellington# Kansas. Approved# December 14# 1990. Kansas City Business Banc of America# Inc.# Abilene# Kansas — proposal to establish Citizens Interim Savings Association# Wichita# Kansas# which was formed to acquire certain assets and assume certain liabilities of the Wichita branch of First Federal Savings Bank of Kansas# Wellington# Kansas. Approved# December 14# 1990. Philadelphia Citizens Bancorp# Inc.# Coudersport# Pennsylvania — to acquire Citizens Trust Company. Approved# December 14# 1990. B o a t m e n 1s B a n c s h a r e s , to H .2 DECEMBER 10, 1990 PAGE 6 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Covington Capital Corporation, Collins, Mississippi - to acquire Covington County Bank. Withdrawn, December 10, 1990. Staff Director BS&R Emprise Financial Corp. - Hutchinson, Wichita, Kansas — proposal that Emprise Bank, N.A., Hutchinson, Kansas, purchase the assets and assume the liabilities of Emprise Interim Savings Bank, F.S.B., Lindsborg, Kansas, which was formed to acquire certain assets and assume deposit liabilities of the Lindsborg branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. Kansas City Emprise rinaneial Corp. - Hutchinson, Wichita, Kansas — proposal to establish Emprise Interim Savings Bank, F.S.B., Lindsborg, Kansas, which was formed to acquire certain assets and assume certain liabilities of the Lindsborg branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. Kansas City Emprise Financial Corporation - East, Wichita, Kansas — to acquire Sierra Petroleum Company, Wichita, Kansas, and Emprise Financial Corporation Hutchinson, Hutchinson, Kansas. Approved, December 13, 1990. Cleveland First Bancorporation of Ohio, Akron, Ohio — to engage de novo in disaster recovery activities through First Bancorporation Services Division, Brecksville, Ohio. Permitted, December 14, 1990. Chicago First Chicago Corporation, Chicago, Illinois — to engage de novo in trust company activities and acting as investment advisor through Brinson Trust Company. Returned, December 13, 1990. H .2 DECEMBER 10, 1990 PAGE 7 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Staff Director BS&R First Citizens BancShares, Inc., Raleigh, North Carolina — proposal that First - Citizens Bank & Trust Company purchase the assets and assume the liabilities of the Mutual Savings and Loan Association, Inc., Charlotte, North Carolina. Approved, December 14, 1990. Kansas City First Commerce Bancshares, Inc., Lincoln, Nebraska — to acquire the First National McCook Company, McCook, Nebraska, and First National Bank of McCook. Approved, December 14, 1990. Cleveland First Commonwealth Financial Corporation, Indiana, Pennsylvania — to engage de novo in trust company activities through First Commonwealth Trust Company. Permitted, December 10, 1990. Minneapolis First National BancShares, Inc., Willston, North Dakota — to acquire First National Bank & Trust Co. of Willston. Approved, December 12, 1990. Kansas City Geneva State Company, Geneva, Nebraska — The Geneva State Bank. Approved, December 13, 1990. Dallas Jones Holding Company, Ltd., Albany, Texas — to acquire Albany Bancshares, Inc., and First National Bank of Albany. Approved, December 14, 1990. Richmond Key Centurion Bancshares, Inc., Charleston, West Virginia — to acquire Spectrum Financial Corporation, Wheeling, West Virginia. Approved, December 13, 1990. to acquire H.2 DECEMBER 10, 1990 PAGE 8 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Staff Director BS&R Lafayette Bancorporation, Lafayette, Indiana — proposal that Lafayette Bank and Trust Company purchase the assets and assume the liabilities of Tippecanoe Savings Bank, F.S.B., which was formed to acquire certain assets and assume deposit liabilities of the Brookston, and Lafayette - Teal Road branches of Hometown Federal Savings Bank, Delphi, Indiana. Approved, December 14, 1990. Chicago NBD Bancorp, Inc., Detroit, Michigan — to acquire NBD Bank, Columbus, Ohio, which will purchase the assets and assume the liabilities of Mid - America Federal Savings and Loan Association. Approved, December 11, 1990. Kansas City Nebraska Bancorporation, Inc., Alliance, Nebraska — proposal to establish ANB Savings Bank, F.S.B., which was formed to acquire certain assets and assume certain liabilities of the Alliance branch of FirsTier Savings Bank, FSB, Omaha, Nebraska. Approved, December 14, 1990. Staff Director BS&R Norwest Corporation, Minneapolis, Minnesota — modification of a representation made in connection with acquisition of First Minnesota Savings Bank, F.S.B. Granted, December 14, 1990. Chicago Pinnacle Banc Group, Inc., Oak Brook, Illinois — to acquire The Berwyn National Bank, Berwyn, Illinois. Approved, December 14, 1990. Staff Director BS&R Royal Bank of Scotland Group pic, Edinburgh, Scotland — extension to discontinue certain activities. Granted, December 12, 1990. San Francisco Security Bank Holding Company, Coos Bay, Oregon — engage de novo in mortgage lending and data processing activities through Security Mortgage Company. Returned, December 10, 1990. to H.2 DECEMBER 10, 1990 PAGE 9 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Kansas City Tescott Bancshares, Inc., Tescott, Kansas — proposal to establish Salina Federal Savings Bank, Salina, Kansas, which was formed to acquire certain assets and assume certain liabilities of the Salina branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 10, 1990. Kansas City Tescott Bancshares, Inc., Tescott, Kansas — acquire Bank of Tescott, Tescott, Kansas. Approved, December 10, 1990. Staff Director BS&R Tescott Bancshares, Inc., Tescott, Kansas — proposal that The Bank of Tescott purchase the assets and ass '.lie the liabilities of Salina Federal Savings Bank, Salina, Kansas, which was formed to acquire certain assets and assume deposit liabilities of the Salina branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. Chicago Valley Bancorporation, Appleton, Wisconsin — acquire Western Federal Savings and Loan Association, Sparta, Wisconsin. Returned, December 14, 1990. New York Valley National Bancorp, Wayne, New Jersey — to acquire Mayflower Financial Corporation, Livingston, New Jersey, and Mayflower Savings Bank, SLA. Approved, December 14, 1990. to to BANK MERGERS Kansas City American State Bank and Trust Company, Great Bend, Kansas — to acquire certain assets and assume certain liabilities of the Great Bend branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. H.2 DECEMBER 10, 1990 PAGE 10 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK MERGERS Chicago American Trust & Savings Bank, Dubuque, Iowa — to purchase certain assets and assume certain deposit liabilities of the Dyersville branch of Midland Savings Bank FSB, Des Moines, Iowa. Approved, December 14, 1990. Cleveland Society Bank & Trust, Toledo, Ohio — to acquire eight branches of Society National Bank. Approved, December 10, 1990. Kansas City Stock Exchange Bank, Caldwell, Kansas — to acquire certain assets and assume certain liabilities of the Caldwell branch of First Federal Savings Bank of Kansas, Wellington, Kansas. Approved, December 14, 1990. BANK PREMISES Chicago De Motte State Bank, De Motte, Indiana — in bank premises. Approved, December 11, 1990. investment Staff Director BS&R Marine Bank of Bloomington - Normal, Bloomington, Illinois — investment in bank premises. Approved, December 10, 1990. BANKS, STATE MEMBER S t . Louis Elliott State Bank, Jacksonville, Illinois — of a dividend. Approved, December 12, 1990. payment Dallas Peoples State Bank, Rocksprings, Texas — six months1 notice of withdrawal from membership in the Federal Reserve System. Waived, December 10, 1990. H.2 DECEMBER 10, 1990 PAGE 11 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CAPITAL STOCK Dallas Albany Bancshares, Inc., Albany, Texas — of shares. Approved, December 14, 1990. redemption Kansas City ASB Bancshares, Inc., Archie, Missouri — of shares. Approved, December 14, 1990. redemption Kansas City Eustis Bancshares, Inc., Eustis, Nebraska — redemption of shares. Approved, December 11, 1990. Staff Director BS&R Fifth Third Bank, Cincinnati, Ohio — subordinated note. Approved, December 10, 1990. Cleveland Independent State Bank of Ohio, Columbus, Ohio — redemption of shares. Approved, December 14, 1990. Chicago Iroquois Bancorp, Inc., Gilman, Illinois redemption of shares. Approved, December 14, 1990. Chicago Loof Investment Co., Grand Junction, Iowa redemption of shares. Approved, December 14, 1990. issuance of CHANGE IN BANK CONTROL Kansas City ASB Bancshares, Inc., Archie, Missouri — bank control. Permitted, December 14, 1990. change in H.2 DECEMBER 10, 1990 PAGE 12 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Cleveland Bank of Delaware Corporation, Wilmington, Delaware — change in bank control. Permitted, December 10, 1990. S t . Louis City Bancorp, Inc., Murphysboro, Illinois — in bank control. Permitted, December 14, 1990. change Kansas City Eustis Lrjicshares, Inc., Eustis, Nebraska — in bank control. Permitted, December 11, 1990. change Chicago Iroquois Bancorp, Inc., Gilman, Illinois — bcirk control. Pei fitted, December 14, 1990. Chicago Loof Investment Co., Grand Junction, Iowa — in bank control. Permitted, December 14, 1990. Minneapolis Plainview Bankshares, Inc., Plainview, Minnesota — change in bank control. Permitted, December 14, 1990. change in change COMPETITIVE FACTORS REPORTS Kansas City Air Academy National Bank, Colorado Springs, Colorado, proposed merger with Air Academy Interim National Bank — report on competitive factors. Submitted, December 13, 1990. San Francisco Century Federal Savings and Loan Association, Pasadena, California, proposed purchase of assets and assumption of certain liabilities of Household Bank, F.S.B., Newport Beach, California — report on competitive factors. Submitted, December 11, 1990. S t . Louis Community Savings Bank, F.S.B., New Albany, Indiana, proposed merger with Community Savings Bank (to be formed as a federal stock savings bank) — report on competitive factors. Submitted, December 12, 1990. H.2 DECEMBER 10, 1990 PAGE 13 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS S t . Louis First State Bank of St. Francois County, Bonne Terre, Missouri, proposed purchase of certain assets and assumption of certain liabilities of Capital Bank Cape Girardeau County, Cape Girardeau, Missouri — report on competitive factors. Submitted, December 11, 1990. Boston Kingfield Savings Bank, Kingfield, Maine, proposed acquisition of the Phillips and Rangeley, Maine, offices of Maine National Bank, Portland, Maine — report on competitive factors. Submitted, December 12, 1990. Minneapolis Marquette Bank Brookdale, Brooklyn Center, Minnesota, proposed merger with the Brookdale Branch of Marquette Bank Minneapolis, Minneapolis, Minnesota — report on competitive factors. Submitted, December 13, 1990. Minneapolis Marquette Bank Golden Valley, Golden Valley, Minnesota, proposed merger with the Golden Valley branch of Marquette Bank Minneapolis, Minneapolis, Minnesota — report on competitive factors. Submitted, December 13, 1990. Chicago Metrobancorp, Indianapolis, Indiana, proposed acquisition of Metro Federal Savings Bank — on competitive factors. Submitted, December 12, 1990. report Richmond Robeson Savings Bank, Inc., Lumberton, North Carolina, proposed acquisition of Poughkeepsie Savings Bank, FSB, Poughkeepsie, New York — report on competitive factors. Submitted, December 10, 1990. Boston Seabrook Bank and Trust Company, Seabrook, New Hampshire, proposed merger with New Hampshire Savings Bank, Concord, New Hampshire — report on competitive factors. Submitted, December 12, 1990. H.2 DECEMBER 10, 1990 PAGE 14 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS New York Shadow Lawn Savings Bank, SLA, proposed purchase of the 940 Fisher Boulevard, Toms River, New Jersey, branch of Anchor Savings Bank, FSB, Northport, New York — report on competitive factors. Submitted, December 11, 1990. New York Shadow Lawn Savings Bank, SLA, West Long Branch, New Jersey, proposed purchase of certain assets and assumption of certain liabilities of the Toms River branch of Anchor Savings Bank, FBS, Northport, New York — report on competitive factors. Submitted, December 11, 1990. Chicago Summitville Bank & Trust Company, Summitville, Indiana, proposed merger with Community Federal Savings Bank, Lapel, Indiana — report on competitive factors. Submitted, December 14, 1990. Atlanta Worth Federal Savings and Loan Association, Sylvester^ Georgia, proposed merger with Colony Interim, Inc., Fitzgerald, Georgia — report on compet it ive factors. Submitted, December 10, 1990. EXTENSIONS OF TIME Atlanta AmSouth Bancorporation, Birmingham, Alabama — extension to March 10, 1991, to acquire First Bank of Maury County, Columbia, Tennessee, and relocate to Nashville, Tennessee. Granted, December 11, 1990. Atlanta AmSouth Bank of Tennessee, Columbia, Tennessee — extension to March 10, 1991, to merge with First Bank of Maury County, and become a member of the Federal Reserve System. Granted, December 11, 1990. San Francisco BankAmerica Corporation, San Francisco, California extension to divest certain property. Granted, December 11, 1990. H .2 DECEMBER 10, 1990 PAGE 15 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME San Francisco BankAmerica Corporation, San Francisco, California extensions to divest certain properties. Granted, December 11, 1990. Atlanta Barnett Banks, Inc., Jacksonville, Florida — extension to March 7, 1991, to acquire Barnett Card Services Bank, National Association, Jacksonville, Florida. Granted, December 11, 1990. Minneapolis Citizens State Bank, Clark, South Dakota — extension for ninety days to complete construction of branch in Watertown, South Dakota. Granted, December 13, 1990. Kansas City Commerce Bancshares, Inc., Kansas City, Missouri — extension to March 19, 1991, to acquire the Commerce Bank of Platte County, National Association. Granted, December 14, 1990. Philadelphia FB&T Corporation, Hanover, Pennsylvania — extension to March 22, 1991, to acquire Monumental Federal Savings Bank, Baltimore, Maryland. Granted, December 14, 1990. San Francisco First Interstate Bancorp, Los Angeles, California — extension to divest certain property. Granted, December 11, 1990. San Francisco First Security Corporation, Salt Lake City, Utah — extensions to divest certain properties. Granted, December 11, 1990. San Francisco North Cascades Bancshares, Inc., Chelan, Washington - extension to March 27, 1991, to acquire North Cascades National Bank. Granted, December 11, 1990. S t . Louis Owenton Bancorp, Inc., Owenton, Kentucky — to March 14, 1991, to redeem shares. Granted, December 12, 1990. extension H .2 DECEMBER 10, 1990 PAGE 16 TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME New York Saban S.A., Panama City, Panama — extension to March 15, 1991, to acquire Safra National Bank of New York, New York. Granted, December 14, 1990. INTERNATIONAL OPERATIONS Staff Director BS&R Bank of California International, San Francisco, California — amendment to articles Third and Sixth to move the home office from San Francisco to New York, and to change the site of the annual meeting. Approved, December 14, 1990. Staff Director BS&R Chase Manhattan Overseas Banking Corporation, Wilmington, Delaware — to make an investment The Chase Manhattan Bank of Canada, Toronto, Canada. Permitted, December 10, 1990. New York Citibank International, Miami, Florida — to extend corporate charter for a period of twenty years. Approved, December 14, 1990. RESERVE BANK OPERATIONS Director, FRBO Federal Reserve Bank of New York — office automation equipment. Approved, December 10, 1990. to purchase in H.2 DECEMBER 10, 1990 PAGE 17 ADDITIONS AND CORRECTIONS TO DECEMBER 14, 1990 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Atlanta Interbanc Savings and Loan Association, Fort Lauderdale, Florida, proposed merger with Interbanc Financial Group, Inc. — report on competitive factors. Submitted, December 6, 1990. FED ERA L R E SE R V E BANK OF BOSTON A P P L IC A T IO 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 riod E n d i n g Date Application NON E 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 B OTH NEWSPAPER AND FEDERAL REGISTER NOTICE C o m m e n t P e r i o d E n d i n g Date Application NON E SE 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 O NLY 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 FEDERAL REGISTER OR NEWSPAPER NOTICE Application NONE ♦ S u b j e c t to CR A Federal Reserve Bank of New York Garment Period Ending Date SECTION I Applications Subject to Newspaper ___________ Notice Only_________ United Jersey Bank, Hackensack, New Jersey to establish an offsite electronic facility at UJB Financial Operations Center, 55 Challenger Boulevard, Ridgefield Park, New Jersey.1/ 1/4/91 SECTION II Applications Subject to Both Newspaper arid Federal Register Notice None. SECTION III Nonbanking Applications (Subject to Federal Register Notice Only) None. SECTION IV Applications Not Involving ______Public Comment_____ None. 1/ 2/ 3/ 4/ Subject to provisions of Ccnrounity 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 E SE R V E BANK OF PH ILA DELPH IA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date None. SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Comment Period Ending Date None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE None. 1/ Subject to provisions of Community Reinvestment Act. * N/A - not yet available. F e d e r a l R e s e r v e Bank o f C le v e la n d Applications Bulletin For Week Ending December 15, 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 December 10, 1990 from Heartland Bank, Grove City, Ohio, of its intent to redeem up to 5.64 percent of its common stock outstanding. * # N F - Subject to CRA Expected to end approximately 30 days from the date of receipt Newspaper Comment Period Federal Register Comment Period Federal Reserve Bank of Richmond Section 1 - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date First Virginia Bank - South Hill, South Hill, Virginia, for permission to establish a branch at the inter section of Routes 903 and 751, Lake Gaston, Bracey, Virginia.* 1-4-91 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Key Centurion Bancshares, Inc., Charleston, West Virginia, to acquire Southern Bankshares, Inc., Beckley, West Virginia.* 1-10-91 Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date Resource Bancshares Corporation, Columbia, South Carolina, to acquire four South Carolina branches of Poughkeepsie Savings Bank, F.S.B., Poughkeepsie, New York. Not yet available. Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. *Application is subject CRA. Federal Reserve Bank of Atlanta Applications Bulletin for Week Ending D e c e m b e r 14. 1990 Section I - Application Subject to Newspaper N o t i c e Only Application Sovran Bank/Central South (CRA) Nashville, Tennessee To establish a b ranch office at 1648 Fort Campbell Boulevard, Clarksville, Tennessee, to be known as Sovran Bank/Central South Cummingham Plaza. 12-19-90 Newspaper TransAtlantic Bank M i a m i , Florida To establish a branch office at the Aventura Mall, Biscayne Boulevard and N.E. 195-203 Streets, Miami, Florida, to be known as Aventura Branch of TransAtlantic Bank. Section II - Applications Subject To Both Newspaper and Federal Register No t i c e Application Comment Peri o d Ending Date First Commercial Bancshares, Inc. Jasper, Alabama To acquire Citizens Independent Bancorp, Huntsville, Alabama, and thereby indirectly acquire its banking subsidiary, Citizens Independent Bank, Huntsville, Alabama. The Peoples H o lding Company Fort W a l t o n Beach, Florida To become a b a n k holding company by acquiring Peoples Federal Savings Bank, Fort W a lton Beach, Florida, and converting it to a commercial bank to be known as Community & Peoples State Bank, Fort W a l t o n Beach, Florida. Kislak Financial Corporation Miami Lakes, Florida 1-BHC formation, Kislak National North M i a m i , F l o r i d a . 12-20-90 Federal Register Bank, Citizens Financial Acquisition 12-19-90 Corporation G r e e n s b o r o , Georgia Federal Register 1-BHC formation, Citizens Union Bank, Greensboro, Georgia. First City Bancorp, Inc. Murfreesboro, Tennessee Change in control by William E. Rowland to acquire up to 16.1 percent; William Kent C o leman to acquire up to 11.8 percent; and Robert Murfree to acquire up to 15.1 pe r c e n t of the outstanding shares of comm o n stock. 12-27-90 Newspaper F e d e r a l R e se rv e Bank o f C h icag o 2 YES Section I - Applications Subject to Newspaper notice Only Comment Period Rnrii’nf^ Hate Application Merger/ Branch First of America Bank-Northern Michigan Traverse City, Michigan First of America Bank-Manistee Manistee, Michigan* N - 12-9-90 EFT Bankers Trust Company Des Moines, Iowa Kum-N-Go, 60th and Ashworth West Des Moines, Icvra* N - 12-30-90 Membership Royal American Bank (in organization) Inverness, Illinois To become a member of the Federal Reserve System* N - 1-9-91 Merger/ Canerica Bank-Detroit Detroit, Michigan Ccmerica Bank - Jackson, N.A. Jackson, Michigan* N - ** Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-2 First State Bancorp of Manficello, Inc. Monticello, Illinois Atwood State Bank Atwood, Illinois* CoC-HC Continental Mortgage Corporation FR - 12-21-90 Maywood, Illinois N - ** Nancy K. Kelly & Clay Belongia as, Trustees under Peter D. Giachini Charitable Remainder Trust Y-2 First Midwest Corporation of Delaware Elmwood Park, Illinois Oguawka Bancshares, me. Oguawka, Illinois Bank of Oguawka Oguawka, Illinois* FR - 12-31-90 N - 12-31-90 FR - 1-8-91 N - 12-28-90 F e d e r a l R eserv e Bank o f C h icag o Section II - Applications Subject to Both Newspaper and Federal Register Notice (Continued) Garment Period Ending Date Type Application Y-2 Pinnacle Banc Group, Inc. Oak Brook, Illinois The Hemy County Bank Green Rock, Illinois* FR - 1-8-91 N - ** Y-l Royal American Corporation Inverness, Illinois Royal American Bank (in organization) Inverness, Illinois* FR - 1-8-91 N - 1-9-91 Y-l Agri Bancorporation FR - ** Webster City, Icwa N - ** Agri-Bank Corporation Vtebster City, Iowa The Fanners National Bank of Webster City Webster City, Iowa* Y-l Illiopolis Bancorporation, Incorporated Springfield, Illinois Farmers State Bank and Trust Illiopolis, Illinois* Type FR - ** N - ** Section III - Applications Subject tn Efideral Rp-mster Notice Only Comment Period Application Ending nate 4(c)(8) San Bancorp FR - 12-31-90 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 - 12-26-90 Y-4 Metrobancorp Indianapolis, Indiana Metro Federal Savings Bank Indianapolis, Indiana FR - 1-8-91 4(c)(8) Firstar Corporation of Arizona De Novo in Portfolio Investment Advisory Services ER - 1-8-91 Y-4 Gcnnunity Bancshares, Inc. Noblesville, Indiana Lapel Branch Colonial Central Savings Bank, F.S. lapel, Indiana ER - 1-8-91 F e d e r a l R e se rv e Bank o f C h icag o Section III - Applications Subject- tr» Farieral Register Notice Only Continued Comment Period Ending Date Type Application 4(c)(8) Financial Center Corporation Holland, Michigan Consolidated Bank Services, Inc. Holland, Michigan FR - ** Y-4 Valley Bancorporation Appleton, Wisconsin Great American Savings Bank, FSB Milwaukee, Wisconsin FR - ** Y-4 Valley Bancorporation FR - ** Appleton, Wisconsin Western Federal Savings and Loan Association Sparta, Wisconsin Y-4 Great Lakes Financial Resource, Inc. Homewood, Illinois Allied Mortgage Corporation Chicago, Illinois FR - ** Y-4 Great lakes Financial Resource, Inc. ESQP Homewood, Illinois Allied Mortgage Corporation Chicago, Illinois FR - ** SECTION IV - Applications Not Subject to Ttarieral Register Notice Or Newspaper Notice Type Application RoS Agri-Bank Corporation Webster City, Iowa To redeem 16,458 shares (20 percent) ccnmon stock N - Newspaper FR - Federal Register * - Subject to Provisions of Gamnunity Reinvestment Act ** - Not available at this timp December 14, 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 Application End of Comment Period Change in control notification involving Security Bancshares, Inc., Paris, Tennessee, by Barry Park McIntosh (Not available) Change in control notification involving Security Bancshares, Inc., Paris, Tennessee, by Galen Brent Greer (Not available) * Section 3(a)(3) application by Mercantile Bancorp, Inc., Quincy, Illinois, to acquire Maine Trust Company of Carthage, Carthage, Illinois (Not available) SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE None SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Stock redemption notification by Ohio County Bancshares, Inc., Beaver Dam, Kentucky* * This application is subject to CRA FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to Newspaper Notice Only Comment Period Ending Date Application None. Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Application Ellsworth Bancshares, Inc. Ellsworth, MN To acquire Ellsworth State Bank Ellsworth, MN* Not yet available John D. O'Brien and JDOB, Inc. To acquire control of 25% of First Security Bank of Missoula, Missoula, MT Not yet available John A. McHugh Revocable Trust To acquire control of 28.88% of Maple Lake Bancorporation, Inc., Edina, MN Not yet available Section III - Applications Subject to Federal Register Notice Only Application Commercial Banshares, Inc. Mitchell, SD To acquire Spectrum Life Insurance Company, Mitchell, SD* *Subject to CRA Comment Period Ending Date Not yet available FEDERAL RESERVE BANK OF MINNEAPOLIS Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. Federal Reserve Bank o f Kansas City S E C T I O N I - A P P L I C A T I O N S SUBJECT TO N E W S P A P E R N O T I C E O N L Y APPLICATION T h e P e o p l e s Bank, Pratt, Kansas, for p r i o r a p p r o v a l to m e r g e w i t h Sharon V a l l e y St a t e Bank, Sharon, Kansas. COMMENT PER I O D E N D I N G DATE No t A v a i l a b l e S E C T I O N II - A P P L I C A T I O N S SUBJECT T O B O T H N E W S P A P E R A N D F E D ERAL REGIS T E R N O T I C E APPLICATION COMMENT PERIOD ENDING DATE K r e y Co., Ltd., Pratt, Kansas, for p r i o r a p p r o v a l to a c q u i r e 100 percent of the v o t i n g s hares of S haron Valley S t a t e Bank, Sharon, K a nsas.* No t A v a i l a b l e S t e v e n J. Wells, Ardmore, Oklahoma, for p r i o r a p p r o v a l to increase his p r o p o r t i o n a t e o w n e r s h i p interest in A m c o r p Finan c i a l , Inc., Ardmore, O k l a h o m a , by .40 p e r c e n t to 11.25 percent. Not A v a i l a b l e M i d w e s t B a n c o C o r p o ration , Cozad, N e b r a s k a , for prior a p p r o v a l to a c q u i r e 100 p e r c e n t of the voti n g s h a r e s of E n d e r s Company, Enders, N e b r a s k a , p a r e n t of First State Bank, Enders, Nebraska.* Not A v a i l a b l e L e e A n n L e w i s an d J e r r o l d G. H a u p t m a n , L i ttleton, Colorado, for p r i o r a p p r o v a l to a c q u i r e 100 percent of the v o t i n g shares of C o l u m b i n e V a l l e y Bank & Trust, Littleton, Colorado. No t A v a i l a b l e J. M a x Jiles, Sallisaw, Oklahoma, et. al., for p r i o r a p p r o v a l to acquire 8 9 . 7 3 p e r c e n t of the v oting shares of F i r s t S a l l i s a w B a n c shares , Inc., S a l l i s a w , Oklahoma. Not A v a i l a b l e B e t h a n y B a n k s h a r e s , Inc., Bethany, M i s s o u r i , for prior a p p r o v a l to b e c o m e a bank h o l d i n g c o m p a n y through the a c q u i s i t i o n of 100 p e r c e n t of the v o t i n g s h a r e s of Th e B e t h a n y Trust C o m p a n y , Bethany, M i s s o u r i . * No t A v a i l a b l e Federal Reserve Bank o f Kansas City SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE O NLY APPLICATION COMMENT PERIOD ENDING DATE None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE A PPLICATION None. *Application is subject to CRA FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF DECEMBER 10, 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 Charles S. Aycock, Jr., Rayville, LA, to acquire an interest in First Republic Bancshares, Inc., Rayville, LA 90/12/26 Change in Control Notice by Sidney William Cauthorn, Del Rio, Tx, to acquire an interest in Westex Bancorp, Inc., Del Rio, TX 91/01/01 Section 3(a)(1) application by Kingo, Inc., Wharton, TX, to acquire Community State Bank, Boling, TX 91/01/07 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION Section 4(c)(8) de novo notification by Winn Bancshares, Inc., Winnfield, LA, to acquire Beville Street Agency, Inc., Winnfield, LA (engage in underwriting credit life and disability insurance) NOTICE EXP N/A 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 12/14/90 Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Valley Bank of Nevada, Las Vegas, Nevada, to establish a branch in the Von's Grocery Store, 3325 E. Russell Road, Las Vegas, Nevada. * Newspaper: 12/23/90 Valley Bank of Nevada, Las Vegas, Nevada, to establish a branch in the Von's Grocery Store, 2500 E. Desert Inn, Las Vegas, Nevada. * Newspaper; 12/23/90 Valley Bank of Nevada, Las Vegas, Nevada, to establish a branch in the Von's Grocery Store, 309 S. Decatur, Las Vegas, Nevada. * Newspaper: 12/23/90 Section II - Applications Subject to Both Newspaper and Federal Register Notice Dr. Roger C.S. Lin, Honolulu, Hawaii, to acquire EastUest Financial Group, Honolulu, Hawaii. Newspaper: Fed. Reg.: 10/16/90 1/04/91 Section III - Applications Subject to Federal Register Notice Only The Mitsubishi Bank, Limited, Tokyo, Japan, to engage in a full range of swap activities and related advising through Mitsubishi Capital Market Services, Inc., New York, New York. Fed. Rea.: 1/18/91 The Kyowa Bank, Ltd., Tokyo, Japan, to acquire Saitama Bank Trust Company of New York, New York, N.Y. Fed. Rea.: 1/08/91 Palm Desert Investments, Palm Desert, California, to engage de novo, directly, in mortgage lending activities. Fed. Rea.: 1/10/91 Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice None Subject to CRA.
@FedFRASER