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ANNOUNCEMENT BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1989, No. 48 Actions of the Board, its Staff, and th e Federal Reserve Banks; Applications and Reports Received During the W eek Ending December 2, 1989 ACTIONS TAKEN BY THE BOARD OF GOVERNORS BABE HOLDING COMPANIES Amsterdam - Rotterdam Bank N.V., Amsterdam, the Netherlands, and Stichting Amro — to acquire additional shares of DBI Holdings, Inc., New York, New York, and engage indirectly in securities brokerage and investment advisory activities through D B I ’ s subsidiaries. Approved, November 29, 1989. Center Financial Corporation, Waterbury, Connecticut — to acquire Centerbank and Burritt InterFinancial Bancorporation, New Britain, Connecticut. Denied, November 27, 1989. Deposit Guaranty Corporation, Jackson, Mississippi — to acquire Commercial National Corporation, Shreveport, Louisiana, and Commercial National Bank in Shreveport. Approved, November 27, 1989. Lisco State Company, Lisco, Nebraska — to acquire 0 & F Cattle Company, Oshkosh, Nebraska, and Nebraska State Bank, and to engage in lending and insurance activities through subsidiaries of 0 & F Cattle Company. Approved, November 29, 1989. BfiARP OPERATIONS Budget for 1990. Approved, November 29, 1989. RESERVE BANK OPERATIONS Federal Reserve Bank of Richmond -- to purchase computer equipment for the Contingency Processing Center, Culpeper, Virginia. Approved, November 27, 1989. Federal Reserve Bank of San Francisco — to purchase a central processing unit for the Los Angeles Branch. Approved, November 27, 1989. H.2 NOVEMBER 26, 1989 PAGE 2 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY ABBREVIATIONS: BS&R - Banking S upervision and Regulation; C&CA - Consumer and Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve Bank Operations; GC - General Counsel; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES» DOMESTIC Richmond Central Fidelity Bank, Richmond, Virg i n i a — to establish a branch at 309 South Battlefield Boulevard, Chesapeake, Virginia. Approved, November 28, 1989. Philadelphia Meridian Bank, Reading, Pennsylvania — to establish an offsite electronic banking facility at Oxford Valley Acme, 100 Lincoln Plaza, Langhorne, Pennsylvania. Approved, November 28, 1989. St. Louis Mid - Ame r i c a Bank of Louisville and Trust Company, Louisville, Kentucky — to establish a branch at 26th Street and Broadway. Approved, November 27, 1989. BANK HOLDING COMPANIES Atlanta A u b u r n National Bancorporation, Auburn, Alabama — engage de novo in data processing activities through ANB Systems, Inc., Auburn, Alabama. Permitted, November 26, 1989. to Dallas Broadway Bancshares of Delaware, Inc., Wilmington, Delaware — to acquire B r oadway Ai r Force National Bank, Randolph Air Force Base, Texas; Broadway National Bank, San Antonio; Texas; and Eisenhower National Bank. Approved, December 1, 1989. Chicago Century Financial Corporation, Coldwater, Michigan — to acquire Century Bank and T r u s t . Approved, November 29, 1989. Atlanta Citizens Corporation, Eastman, Georgia — B a n k South, Mount Vernon, Georgia. Approved, December 1, 1989. to acquire H.2 NOVEMBER 26, 1989 PAGE 3 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago Country Bank Shares Corporation, Janesville, Wisconsin — to acquire State Bank of M t . Horeb, Mt. Horeb; State Bank of Argyle, Argyle; and Citizens State Bank of Clinton, Clinton, Wisconsin. Approved, December 1, 1989. Dallas East Texas Financial Corporation, Kilgore, Texas — to acquire Citizens Bank. Approved, November 27, 1989. Secretary First Chicago Corporation, Chicago, Illinois — to acquire Citizens Holding Corporation, Genoa City, Wisconsin. Approved, December 1, 1989. Richmond First Union Corporation, Charlotte, North Carolina — to acquire First Union Futures Corporation. Approved, November 28, 1989. Cleveland F.N.B. Corporation, Hermitage, Pennsylvania — to engage de novo in marketing and advisory activities through Mortgage Service Corporation. Permitted, November 29, 1989. Minneapolis Fortune 44 Company, Boulder, Colorado — to acquire Newberry Bancorp, Inc., Newberry, Michigan. Approved, November 30, 1989. Atlanta Gold Coast Bancshares, Inc., Hypoluxo, Florida, and Gulfstream Financial Services, Inc. — to acquire Gold Coast Financial Services, Inc., and engage de novo in mortgage banking activities. Permitted, November 28, 1989. Chicago Greater Chicago Financial Corp., Chicago, Illinois — to acquire Ashland Bancshares, Inc., and Ashland State Bank. Approved, November 28, 1989. Richmond Jefferson Bankshares, Inc., Charlottesville, Virginia — to engage de novo in investment advisory activities through Jefferson Financial, Inc. Permitted, November 29, 1989. H.2 NOVEMBER 26, 1989 PAGE 4 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES S t . Louis Landmark Bank of Highland, Highland, Illinois — to merge with Landmark Bank of Alton, Alton, Illinois, and to purchase the assets and assume the liabilities of Landmark Bank of Madison County, Glen Carbon, Illinois. Approved, December 1, 1989. Boston Lee National Banc Corp., Lee, Massachusetts — extension to March 1, 1990, to acquire First National Bank of The Berkshires. Approved, December 1, 1989. Richmond Marathon Financial Corporation, Stephens City, Virginia — to acquire The Marathon Bank. Withdrawn, December 1, 1989. Kansas City Mountain West Banking Corporation, Denver, Colorado — to acquire NBR Financial, Inc., Boulder, Colorado, and Citywide Bank of Thornton, Thornton, Colorado. Approved, November 28, 1989. Minneapolis NBC Bancorporation, Inc., Newport, Minnesota — acquire Central Bancorporation, Inc. Approved, November 29, 1989. S t . Louis PBM Bancorp, Inc., Marion, Illinois — to merge with Rend Lake Bancorp, Inc.,and acquire Rend Lake Bank, Christopher, I l l i n o i s . Approved, December 1, 1989. Cleveland Society Corporation, Cleveland, Ohio — to acquire Trustcorp, Inc., Toledo, Ohio, and its bank and non-bank subsidiaries. Approved, December 1, 1989. Dallas Surety Capital Corporation, Hurst, Texas — to acquire Texas National Bank of Lufkin, Lufkin, Texas. Approved, November 30, 1989. to H.2 NOVEMBER 26, 1989 PAGE 5 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Dallas Texas Security Bancshares Corporation, Dover, Delaware — to acquire Central Bank and Trust, Fort Worth, Texas, and North Fort Worth Bank. Approved, December 1, 1989. Boston Weetamoe Bancorp, Somerset, Massachusetts — acquire S l a d e Ts Ferry Trust Company. Approved, December 1, 1989. Minneapolis West Central Banque Shares, Inc., Hancock, Minnesota — to acquire Hancock State Bank. Approved, December 1, 1989. to BANK PREMISES Philadelphia Meridian Bank, Reading, Pennsylvania — to purchase land for future investment in bank premises. Approved, December 1, 1989. CAPITAL STOCK Minneapolis Kerkhoven Bancshares, Inc., Kerkhoven, Minnesota — redemption of shares. Approved, November 27, 1989. Chicago Laurens Bancorp, Ltd., Laurens, Iowa — shares. Returned, November 30, 1989. Kansas City Northland Bancshares, Inc., Kansas City, Missouri — redemption of shares. Approved, November 28, 1989. redemption of CHANGE IN BANK CONTROL Dallas Diboll State Bancshares, Inc., Diboll, Texas — change in bank c o n t r o l . Permitted, December 1, 1989. Chicago Empire Banc Corporation, Traverse City, Michigan — change in bank c o n t r o l . Permitted, November 30, 1989. H.2 NOVEMBER 26, 1989 PAGE 6 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Dallas First Community Financial Corporation, Lufkin, Texas — change in bank c o n t r o l . Returned, December 1, 1989. Dallas Kaufman Bancshares, Inc., Kaufman, Texas — bank control. Returned, November 27, 1989. Minneapolis Kerkhoven Bancshares, Inc., Kerkhoven, Minnesota — change in bank c o n t r o l . Permitted, November 27, 1989. Dallas Pineland Bancshares, Inc., Pineland, Texas — in bank c o n t r o l . Returned, December 1, 1989. change New York U.S. Trust Corporation, New York, New York — in bank control. Permitted, November 29, 1989. change Dallas WoodForest Bancshares, Inc., Houston, Texas — in bank control. Retu r n e d , December 1, 1989. change in change COMPETITIVE FACTORS REPORTS Cleveland Bank One, Fremont, National Association, Fremont, Ohio, proposed purchase of certain assets and assumption of the liabilities of five branches of Trustcorp Bank, Ohio, Toledo, Ohio — report on competitive factors. Submitted, November 27, 1989. Chicago Comerica Bank National Association, Jackson, Michigan, proposed merger with Comerica Bank - Ann Arbor, N.A., Ann Arbor; Comerica Bank - Battle Creek, Battle Creek; Comerica Ban k - Hackley, N.A., Muskegon; Comerica Bank - Kalamazoo, Kalamazoo; Comerica Bank - Lansing, National Association, Lansing; and Comerica Bank - Midland, Midland, Michigan — report on competitive factors. Submitted, November 29, 1989. H.2 NOVEMBER 26, 1989 PAGE 7 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY C o m p e t i t i v e f a c t o r s EEEQEZS Richmond High Point Bank and Trust Company, High Point, North Carolina, proposed merger with New High Point Bank and Trust Company — report on competitive factors. Submitted, November 27, 1989. Boston New England Savings Bank, New London, Connecticut, proposed merger with OmniBank of Connecticut, Inc., Madison, Connecticut — report on competitive factors. Submitted, November 30, 1989. San Francisco Wells Fargo Bank, N.A., San Francisco, California, proposed merger with American National Bank, Bakersfield, California — report on competitive factors. Submitted, November 27, 1989. EXTENSIONS fi£ TIME Philadelphia Bank of Mid - Jersey, Bordentown Township, New Jersey — extension to June 10, 1990, to establish a branch at Route 130 and A A A Drive, Hamilton Township, New Jersey. Granted, December 1, 1989. Atlanta Brennen Banks of Florida, Inc., Inverness, Florida — extension to February 5, 1990, to redeem shares. Granted, November 28, 1989. Atlanta First Capital Corporation, Jackson, Mississippi — extension to February 21, 1990, to accomplish change in bank control. 6ranted, November 28, 1989. Atlanta Clayton Bancshares, Inc., Clayton, Georgia — extension to March 8, 1990, to acquire First Clayton Bank 8 Trust Company. Granted, November 28, 1989. San Francisco First Interstate Bancorp, Los Angeles, California — extension to divest certain property. 6ranted, November 27, 1989. H.2 NOVEMBER 26, 1989 PAGE 8 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS fiE H U E San Francisco First Interstate Bancorp# Los Angeles# California — extensions to divest certain properties. Granted^ November 27# 1989. San Francisco First Security Corporation# Salt Lake City# Utah — extension to divest certain properties. Granted# November 27# 1989. Richmond First Virginia Bank - Colonial# Richmond# Virginia — extension to January 8# 1990# to establish a branch at the intersection of Hull Street Road (U.S. Route 360) and Genito Road (State Route 604)# Midlothian# Virginia. Granted# November 27# 1989. S t . Louis FSB, Inc., Covington, Tonnossee — oxtonsion to March 12, 1990, to redeem shares. Granted, December 1, 1989. Philadelphia Main Line Bancshares, Inc., Wayne, Pennsylvania — extension to March 7, 1990, to acquire the National Bank of Main Line. Granted, December 1, 1989. Richmond Prosperity Bank & Trust Company, Springfield, Virginia — extension to June 15, 1990, to establish a branch at 6530 Backlick Road. Granted, December 1, 1989. San Francisco Puget Sound Bancorp, Tacoma, Washington — to divest certain property. Granted, December 1, 1989. St. Louis Reelfoot Bancshares, I n c ., Union City, Tennessee — extension to January 27, 1990, to acquire Dixie Bancshares, Inc., Dukedom, Tennessee, and Dukedom Bank. Granted, November 28, 1989. Atlanta Security Bancorp, Inc., Canton, Georgia — extension to February 25, 1990, to acquire Security State Bank. Granted, November 28, 1989. extension H.2 NOVEMBER 26, 1989 PAGE 9 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME Chicago Security Bank and Trust Company, Southgate, Michigan — extension to February 28, 1990, to merge with Trenton Bank and Trust Company, Trenton, Michigan. Granted, November 30, 1989. San Francisco Security Pacific Corporation, Los Angeles, California — extensions to divest certain properties. Granted, November 27, 1989. New York United Counties Bancorporation, Cranford, New Jersey — extension to February 28, 1990, to acquire Central Jersey Bancorp, Freehold, New Jersey. Granted, November 30, 1989. San Francisco U.S. Bancorp, Portland, Oregon — certain property. Granted, November 27, 1989. San Francisco Wells Fargo & Company, San Francisco, California — extensions to divest certain properties. Granted, November 29, 1989. S t . Louis Landmark Bank of Madison County, Highland, Illinois — to become a member of the Federal Reserve System. Approved, December 1, 1989. extension to divest MEMBERSHIP REGULATIONS AND POLICIES Director, C&CA Regulation Z — preemption of provisions of the law of Wisconsin to the Truth in Lending Act (Docket R-0672). Approved, November 30, 1989. H.2 NOVEMBER 26, 1989 PAGE 10 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY RESERVE BANK OPERATIONS Director, FRBO Federal Reserve Bank of Chicago — to purchase communications equipment for the System. Approved, November 30, 1989. RESERVE BANK SERVICES Director, FRBO Federal Reserve Bank of Atlanta — to implement a High Dollar Group Sort program at the New Orleans Branch. Approved, November 28, 1989. Director, FRBO Federal Reserve Bank of Cleveland — airport consolidation service. Approved, November 29, 1989. Director, FRBO Federal Reserve Bank of Philadelphia — to change the price of its Canadian Check Collection service. Approved, November 29, 1989. to implement an ADDITIONS AND CORRECTIONS H.2 NOVEMBER 26, 1989 PAGE 11 TO DECEMBER 1, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Kislak Financial Corporation, Miami Lakes, Florida to acquire Kislak National Bank, North Miami, Florida. Withdrawn, November 20, 1989. COMPETITIVE FACTORS REPORTS Atlanta Trust Company Bank of Columbus, N.A., Columbus, Georgia, proposed merger with Trust Company Ba n k of Troup County, LaGrange, Georgia — report on competitive factors. Submitted, November 20, 1989. MEMBERSHIP Atlanta Bank At Ormond By-The-Sea, Ormond Beach, Florida — application to become a member of the Federal Reserve System. Withdrawn, November 22, 1989. FEDERAL RESERVE BANK OF BOSTON APPLICATIONS SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Application Conment Period Ending Date NONE SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Conment Period Ending Date Olde Windsor Bancorp, Inc., Olde Windsor, Connecticut (Olde Windsor) - Change in Control notification filed by John A. Coccomo, Sr. to acquire an additional 10.1% of the voting shares of Olde Windsor Newspaper Not Yet Established Federal Register Not Yet Established SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Corrmsnt Period Ending Date NONE SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER OR NEWSPAPER NOTICE Conment Period Ending Date Application NONE ♦Subject to CRA Federal Reserve Bank of New York Comment Period Ending Date SECTION I Applications Subject to Newspaper ____________ Notice Only__________ None. SECTION II Applications Subject to Both Newspaper and Federal Register Notice None. SECTION III Nonbanking Applications (Subject to Federal Register Notice Only) Barclays PLC and Barclays Bank PIC, both of London, England to engage through their subsidiary, Barclays de Zoete Wedd, Incorporated, New York, New York, in making and servicing loans, providing investment and financial advice, and providing merger and acquisition advice to affiliated and unaffiliated financial and nonfinancial institutional clients. N/A Bankers Trust New York Corporation, New York to engage through its subsidiary, BT Securities Corporation, in certain investment, management consulting and other advisory activities. 12/6/89 BankAmerica Corporation, San Francisco, California, Bankers Trust New York Corporation, New York, New York, The Bank of New York Company, Inc., New York, New York, Ihe Chase Manhattan Corporation, New York, New York, Chemical Banking Corporation, New York, New York, Citicorp, New York, New York, Continental Bank Corporation, Chicago, Illinois, First Chicago Corporation, Chicago, Illinois, Ihe Hongkong and Shanghai Banking Corporation Ltd., Hong Kong, Kellett N.V., Curacao, Netherlands Antilles, HSBC Holding B.V., Amsterdam, the Netherlands, Marine Midland Banks Inc., New York, New York, J.P. Morgan & Co. Incorporated, New York, New York, Manufacturers Hanover Corporation, New York, New York, Midland Bank pic, London, England and Westpac Banking Corporation, Sydney, Australia to acquire indirectly through Liberty Brokerage, Inc., New York, New York the assets of Market Vision Corporation, New York, New York and thereby indirectly to engage in data processing activities. 12/15/89 SECTION IV Applications Not Involving ______ Public Comment______ None. 1/ 2/ 3/ 4/ Subject to provisions of Ccsnraunity 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 norice. FEDERAL RESERVE BANK OF PHILADELPHIA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date None. SECTION II - APPLICATIONS SOBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date N a t i o n a l Properties. I n c . . Wayne, PA to o w n u p t o 1 0 . 1 3 % o f o u t s t a n d i n g s h a r e s of B C B F i n a n c i a l S e r v i c e s Corp., R e a d i n g , P A p u r s u a n t t o t h e C h a n g e in B a n k C o n t r o l Act. 12/20/89 *N/A Newspaper: Federal Register: CoreStates Financial C o r o . . to acquire First Pennsylvania Corporation and subsidiaries, P h i l a d e l p h i a , P A p u r s u a n t t o S e c t i o n s 3(a)(5) a n d 4 ( c ) (8) of t h e B a n k H o l d i n g C o m p a n y Act. Newspaper: Federal Register: 12/29/89 *N/A 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/ S u b j e c t t o p r o v i s i o n s of C o m m u n i t y R e i n v e s t m e n t A c t . *N/A - not yet available. Applications Bulletin F o r W e e k E n d i n g D e c e m b e r 2, 1989 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING R e c e i v e d a p p l i c a t i o n o n N o v e m b e r 30, 198 9 * Not Yet Known # f r o m F i r s t C i t i z e n s B a n c Corp., S a n d u s k y , Ohio, t o m e r g e C i t i z e n s I n t e r i m Bank, S a n d u s k y , Ohio, w i t h T h e C a s t a l i a B a n k i n g C o m p a n y , S a n d u s k y , Ohio, p u r s u a n t t o S e c t i o n 18(c) o f t h e F e d e r a l D e p o s i t I n s u r a n c e Act, a n d i n c i d e n t t h e r e t o e s t a b l i s h a branch under Section 9 of the Federal Reserve Act. 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 T O B O T H NEWSPAPER AND FEDERAL REGISTER NOTICE R e c e i v e d S e c t i o n 3(a)(3) a p p l i c a t i o n o n N o v e m b e r 30, 198 9 f r o m F i r s t C i t i z e n s B a n c C o r p . , S a n d u s k y , Ohio, t o a c q u i r e The Castalia Banking Company, Castalia, Ohio. * # N F - * N - Not Yet Known # Subject to CRA E x p e c t e d t o e n d a p p r o x i m a t e l y 30 d a y s f r o m t h e d a t e o f r e c e i p t Newspaper Comment Period Federal Register Comment Period Applications Bulletin F o r W e e k E n d i n g D e c e m b e r 2, 1 989 S E C T I O N III - A P P L I C A T I O N S S U B J E C T T O F E D E R A L R E G I S T E R NOTICE ONLY R e c e i v e d S e c t i o n 4(c ) ( 8 ) N o t i f i c a t i o n o n Not Yet Known # N o v e m b e r 27, 198 9 f r o m F i r s t B a n c o r p o r a t i o n o f Ohio, A k r o n , Oh i o , o f its i n t e n t t o e n g a g e de n o v o in t r u s t a c t i v i t i e s t h r o u g h a subsidiary, Bancorp Tru s t Company, National Association, Naples, Florida. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE NONE * # N F - Subject to CRA E x p e c t e d t o e n d a p p r o x i m a t e l y 30 d a y s f r o m t h e d a t e o f r e c e i p t Newspaper Comment Period Federal Register Comment Period Federal Reserve Bank of Richmond Section I - Applications Subject to Newspaper Notice Only Comment Period Ending Date Application First Virginia Bank of Tidewater, Norfolk, Virginia, request for permission to establish a branch at the intersection of Big Bethel Road and Village Drive, Hampton, Virginia.* 12-26-89 New Bank, the successor by merger to Clifton Trust Bank, Cockeysville, Maryland, for membership in the Federal Reserve System.* Not Yet Available New Bank, Cockeysville, Maryland, for prior approval to merge with Clifton Trust Bank, Cockeysville, Maryland.* Not Yet Available Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date First Patriot Bankshares Corporation, Fairfax, Virginia, for prior approval to become a bank holding company through the acquisition of Patriot National Bank of Reston, Reston, Virginia, a de novo bank.* 12-22-89 Bancshares 2000, Inc., McLean, Virginia, for prior approval to acquire 100% of the voting shares of Jefferson Bank and Trust Company, Greenbelt, Maryland.* 12-22-89 First Virginia Banks, Inc., Falls Church, Virginia, for prior approval to acquire the successor by merger to Clifton Trust Bank, Cockeysville, Maryland.* Not Yet Available Section III - Applications Subject to Federal Register Notice Application South Carolina National Corporation, Columbia, South Carolina, to engage de novo in participating in community development activities by investing in one or more community development projects which will provide safe and affordable rental housing for low- to moderate-income persons in South Carolina. The activity would be conducted in South Carolina.** Comment Period Ending Date 12-15-89 *Application is subject to CRA. **Expiration of comment period specified in the Federal Register. Federal Reserve Bank of Richmond Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date Sovran Financial Corporation, Norfolk, Virginia, to engage de novo in underwriting and dealing in certain bank-ineligible securities (i.e., commercial paper, municipal revenue bonds, mortgage-related securities, and commercial-related receivables, all as defined in the application) and engaging in certain incidental activities related thereto. Sovran will conduct these activities within the framework and subject to the quantitative limitations and prudential restrictions, set forth by the Board in its Orders authorizing bank holding company subsidiaries to engage in underwriting and dealing in such bank-ineligible securities, through its subsidiary, Sovran Investment Corporation, Richmond, Virginia. Not Yet Available Greenwood National Bancorporation, Greenwood, South Carolina, to engage de novo in acting as a mortgage broker engaged in the origination of single family residential first mortgage loans through its subsidiary, GNB Mortgage Company, Greenwood, South Carolina. Not Yet Available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None Week Ending December 1, 1989 Federal Reserve Bank of Atlanta Applications Bulletin Section I - Applications Subject to Newspaper Notice Only Application Sovran Bank/Central South Nashville, Tennessee 12-13-89 (CRA) To merge with Sovran Bank/Chattanooga, Chattanooga, Tennessee; Sovran Bank/Greeneville, Greenevilie, Tennessee; Sovran Bank/Memphis, Memphis, Tennessee; Sovran Bank/Tn-Cities, Johnson City, Tennessee, and Sovran Bank/Union City, Union City, Tennessee. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Canment Period Ending Date Community National Bancorporation Ashbum, Georgia 1-BHC formation, Community Bank, Ashburn, Georgia (in organization). Dahlonega Bancorp, Inc. 12-12-89 Dahlonega, Georgia Federal Register To retain 2.1 percent of Mountain Bank of Georgia, Hiawassee, Georgia, that increased its total ownership to 7 percent. First National Financial Corporation Albany, Georgia 1-BHC formation, First National Bank of South Georgia, Albany, Georgia (in organization). Synovus Financial Corp. Coluiribus, Georgia Along with its parent, TB&C Bancshares, Inc., Coluiribus, Georgia, to merge with NBWC Corporation, Monroe, Georgia, and thereby acquire its wholly-owned subsidiary, The National Bank of Walton County, Monroe, Georgia. Union Bancshares, Inc. 12-15-89 Blairsville, Georgia Newspaper To acquire Citizens Bank, Murphy, North Carolina. Merchants Capital Corporation Vicksburg, Mississippi Change in control by James E. Blackburn to increase his total ownership from 11.37 percent to 12.17 percent as the result of a stock redemption. Week Ending December 1, 1989 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Merchants Capital Corporation Vicksburg, Mississippi Change in control by Howell N. Gage Jr. to increase his total ownership from 9.35 percent fo 10.04 percent as the result of a stock redemption. Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application First St. Charles Bancshares Boutte, Iouisiana After-the-fact stock redemption notice to retain 35,682 shares (23.95 percent) of its outstanding common stock. Federal Reserve Bank of Chicago Section I - Applications Subject to Newspapc Notice Only Comment Period Ending Date Type Application EFT Davenport Bank and Trust Company Davenport, Iowa St. Ambrose University 518 W. Locust Street Davenport, Iowa* N - 12-22-89 EFT Davenport Bank and Trust Davenport, Iowa 320 W. Kimberly Road Davenport, Iowa* N - 12-22-89 Branch Villa Grove State Bank Villa Grove, Illinois 20 N. Main Street Villa Grove, Illinois* N - 12-9-89 Company Branch/24A First Chicago Bank of Lincoln Park Chicago, Illinois 2150 N. Clybourn Avenue Chicago, 111inois* N - 12-7-89 Branch/24A Bankers Trust Company Des Moines, Iowa 114th & University Clive, Iowa* N - ** Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-2 First State Bancorp of Princeton, Illinois, Inc. Princeton, Illinois First Bank and Trust Co. of Gridley Gridley, Illinois* FR - 11-23-89 N - 12-11-89 Y-2 Security Chicago Corp. Chicago, Illinois First Bank and Trust Co. of Gridley Gridley, Illinois* FR - 11-23-89 N - 12-11-89 Federal Reserve Bank of Chicago Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-2 Lincoln Financial Corporation Fort Wayne, Indiana Signal Bancorp Monticello, Indiana State and Savings Bank Monticello, Indiana* FR - 11-23-89 N - 11-20-89 Y-l Fed One Corp. Griswold, Iowa Griswold State Bancshares, Inc* Griswold, Iowa Griswold State Bank Griswold, Iowa* F R - 12-6-89 N - ** Y-l First Mutual Bancorp of Illinois, Inc. Chicago, Illinois Mutual Trust & Savings Bank Harvey, Illinois* F R - ** N - 12-18-89 Y-l Tremont Bancorp, Inc. Tremont, Illinois The First National Bank in Tremont Tremont, Illinois* F R - 12-15-89 N - 11-17-89 Y-2 Lincoln Financial Corporation Fort Wayne, Indiana PTC Financial Corporation Peru, Indiana The Peru Trust Company Peru, Indiana* FR - 12-14-89 N - 12-7-89 Y-l Royal Bancshares, Inc. Elroy, Wisconsin Bank of Elroy Elroy, Wisconsin* FR - ** N - 12-9-89 Y-l Bobcat Financial Corp. New Vienna, Iowa New Vienna Savings Bank New Vienna, Iowa* F R - ** N - 12-15-89 Y-l Durand Bancorp, Inc. Durand, Illinois Durand State Bank Durand, Illinois* F R - ** N - 12-3-89 Federal Reserve Bank of Chicago Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y— 1 Great River Bancshares, Inc. Quincy, Illinois The Hill-Dodge Banking Company Wausaw, Illinois* FR - ** N - ** Y— 1 Blackhawk Bancorp, Inc. Beloit, Wisconsin Blackhawk State Bank (p/k/a Beloit Savings Bank) Beloit, Wisconsin* FR - ** N - 12-22-89 Y-2 First State Bancorp of Monticello, Inc. Monticello, Illinois Busey Bank of McLean County Heyworth, Illinois* FR - 10-30-89 N - 11-10-89 Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Type Application Y-4 Fed One Corp. Griswold, Iowa Cass County Insurance Agency, Inc. Griswold, Iowa FR - 12-6-89 4(c)(8) Fidelity Financial Corporation of Michigan Birmingham, Michigan Making and acquiring loans and other extensions of credit FR - 12-6-89 4(c)(8) Citizens Bancshares, Inc. Walnut, Illinois Sale and brokerage of general insurance, annunity, credit, mortgage and long term disability FR - ** Y-4 First Chicago Corporation Chicago, Illinois Market Vision Corporation New York, New York FR - ** Y-4 Continental Bank Corporation Chicago, Illinois Market Vision Corporation New York, New York FR - ** Federal Reserve Bank of Chicago Section IV - Applications Not Subject to Federal Register Notice Or Newspaper Notice Type Application RoS Community Financial Corp. Edgewood, Iowa to purchase 136,500 shares voting common stock N FR ★— ** _ Newspaper Federal Register Subject to Provisions of Community Reinvestment Act Not available at this time Federal Reserve Bank of St. Louis SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER None. SECTION II - APPLICATIONS SUBJECT TO BOTH Application Comment Period Ending Date Change in control notification involving FSB, Inc., Covington, Tennessee, by First State Bank of Covington Employee Stock Ownership Trust, Covington, Tennessee (Not available) ♦Section 3(a)(1) application by Corn Belt Bancorp, Inc., Pittsfield, Illinois, to acquire Com Belt Bank and Trust Company, Pittsfield, Illinois (Not available) ♦Section 3(a)(1) application by Planters and Merchants Bancshares, Inc., Gillette, Arkansas, to acquire Planters and Merchants Bank, Gillette, Arkansas (Not available) ♦Section 3(a)(1) application by Walden Holding Company, Jonesboro, Arkansas, to acquire Planters and Stockmen Bank, Pocahontas, Arkansas (Newspaper 12-24-89) ♦Section 3(a)(3) application by Union Planters Corporation, Memphis, Tennessee, to acquire North Arkansas Bancshares, Inc., Jonesboro, Arkansas (Not available) SECTION III ~ APPLICATIONS SUBJECT TO FEDERAL REGISTER None. SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE None. * This application is subject to CRA. FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to _______ Newspaper Notice Only_______ Comment Period Ending Date Application Citizens State Bank Clark, SD To establish a de novo branch in Watertown, SD Not yet available Section II - Applications Subject to Both Newspaper and Federal Register Notice Application James Ingeman, Dennis Sobolik & Robert Severson To acquire control of 75% of Crookston Financial Services, Inc., Crookston, MN Duane S. Amundson To acquire control of 28.50% of Culbertson Ban Corp., Culbertson, Comment Period Ending Date 12-12-89 (Newspaper) Not yet available MT Glenwood Bancshares, Inc. Glenwood, WI To acquire Elmwood Financial Ser vices , Inc., Elmwood, WI* Not yet available Liberty State Bank ESOP St. Paul, MN To acquire control of 16.6% of Liberty Bancshares, Inc,, St. Paul, MN Not yet available * Subject to CRA FEDERAL RESERVE BANK OF MINNEAPOLIS Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Application Springfield Investment Company Springfield, MN To engage in general insurance agency activities through the acquisition of Morgan Insurance Agency, Morgan, MN. The activity will be conducted from an office in Morgan, MN Not yet available Springfield Investment Company Springfield, MN To engage in general insurance agency activities through the acquisition of Ziegenhagen Insurance Agency, Clements, MN. The activity will be conducted from an office in Springfield, MN Not yet available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. Federal Reserve Bank o f Kansas City SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION COMMENT PERIOD ENDING DATE C h a r l e s A. M c N a m a r a III, Tulsa, O k l a h o m a , for p r i o r a p p r o v a l to a c q u i r e c o n t r o l of a 35 . 8 9 p e r c e n t o w n e r s h i p i n t e r e s t t h r o u g h an o p t i o n a g r e e m e n t , M i c h a e l S. Fo r s m a n , Tulsa, O k l a h o m a , for p r ior a p p r o v a l to a c q u i r e c o n t r o l of a 16.56 percent ownership interest t h r o u g h a n o p t i o n a g r e e m e n t , and D a v i d W. Holden, Tulsa, O k l a h o m a , for pr i o r a p p r o v a l to a c q u i r e c o n t r o l of a 2 . 7 6 p e r c e n t o w n e r s h i p i n t e r e s t t h r o u g h an o p t i o n a g r e e m e n t , all i n v o l v i n g C e n t r a l S e r v i c e C o r p o r a t i o n , Enid, Oklahoma. Not Available J o h n E. K i r k p a t r i c k , C h r i s t i a n K. K e e s e e and J a m e s K. H o t c h k i s s , O k l a h o m a City, O k l a h o m a , for p r ior a p p r o v a l , as t r u s t e e s , to a c q u i r e a 1 9 . 6 0 p e r c e n t o w n e r s h i p i n t e r e s t in B a n k s of M i d - A m e r i c a , Inc., O k l a h o m a City, O k l a h o m a . Not A v a i l a b l e Y u t a n B a n c o r p , Inc., Yu t a n , N e b r a s k a , for p r i o r a p p r o v a l to b e c o m e a ba n k h o l d i n g c o m p a n y t h r o u g h the a c q u i s i t i o n of 92.55 p e r c e n t of the v o t i n g s h a r e s of Bank of Yuta n , Yutan, N e b r a s k a . * Not A v a i l a b l e Exchange Bankshares Corporation, A t c h i s o n , K a n s a s , for p r i o r a p p r o v a l to b e c o m e a ba n k h o l d i n g c o m p a n y t h r o u g h t h e 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 E x c h a n g e B a n k s h a r e s C o r p o r a t i o n of K a n s a s , A t c h i s o n , K a n s a s , p a r e n t of E x c h a n g e N a t i o n a l Ban k & T r u s t C o m p a n y of A t c h i s o n , A t c h i s o n , K a n s a s , and F o r t N a t i o n a l Bank, Easton, K a n s a s . * D e c e m b e r 6, 1989 Federal Reserve Bank of Kansas City The F a r m e r s S t a t e Bank C o r p o r a t i o n of Fort M o r g a n , F o r t Morgan, Colorado, for p r i o r approval to become a b a n k h o l d i n g c o m p a n y t h r o u g h the a c q u i s i t i o n of 80 p e r c e n t of the v o t i n g shares of The F a r m e r s S t a t e Bank, Fort Morgan, Colorado.* D e c e m b e r 13, 1989 ISBC H o l d i n g C o m p a n y , Denver, Color a d o , for p r i o r approval to beco m e a b a n k h o l d i n g c o m p a n y t h r o u g h t h e a c q u i s i t i o n of 80 p e r c e n t of the v o t i n g shares of I n d e p e n d e n t S t a t e Bank of Colorado, Denver, C o l o r a d o . * D e c e m b e r 15, 1989 W i l l i a m E. W e l c h , C h i l l i c o t h e , Missouri, for a p p r o v a l to retain an 11.95 p e r c e n t o w n e r s h i p interest in C i t i z e n s B a n c s h a r e s Co., Chillicothe, Missouri. D e c e m b e r 8, 1989 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY COMMENT PERIOD ENDING DATE APPLICATION E x c h a n g e B a n k s h a r e s Corporation, A t c h i s o n , K a n s a s , for prior ap 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 h a r e s of B a nkers E x c h a n g e L i f e I n s u r a n c e Company, A t c h i s o n , K a n s a s , and t h e r e b y i n d i r e c t l y e n g a g e in selling credit life, d i s a b i l i t y , or i n v oluntary u n e m p l o y m e n t i n s u rance. D e c e m b e r 6, 1989 N o r t h e r n M i s s o u r i Bancshares, Inc., D e c e m b e r 15, 1989 Unionville, Missouri, 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 h a r e s of Harri s o n C o u n t y B a n c s h a r e s , Inc., Bethany, M i s s o u r i , and t h e r e b y indirectly e n g a g e in the sale of general i n s u r a n c e , and o f f e r a securities b r o k e r a g e s e r v i c e to the general public. Federal Reserve Bank of Kansas City SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION C o o k I n v e s t m e n t , Inc., B e a t r i c e , N e b r a s k a , for p r i o r a p p r o v a l to r e d e e m 7,239 s h a r e s of its C l a s s A v o t i n g c o m m o n s t o c k and 37,971 s h a r e s of its C l a s s B n o n - v o t i n g c o m m o n stock. H. Pat H e n s o n Co m p a n y , Inc., M a y s v i l l e , O k l a h o m a , for p r i o r a p p r o v a l to r e d e e m 3 , 1 5 4 s h a r e s o f its o w n v o t i n g c o m m o n stock. ♦ A p p l i c a t i o n is s u b j e c t to CRA. FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF NOVEMBER 27, 1989 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 I. Castro, Jr., and Perry M. Kallison, Jr., San Antonio, TX, to acquire an interest in Hometown Bancshares, Inc., Houston, TX 89/12/15 Change in Control Notice by Jack W. Schuler, Lake Bluff, Illinois, to acquire an interest in USA Bancshares, Inc., Dallas, TX N/A Change in Control Notice by Jerry C. Smith, Azle, TX, to acquire an interest in Azle Bancorp, Azle, TX N/A SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION None. * SUBJECT TO CRA. ** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY. N/A - NOT AVAILABLE AT THIS TIME. FEDERAL RESERVE BANK OF SAN FRANCISCO Week ending 12/10/89 Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Verde Valle/ Bancorp, Inc., Cottonwood, Arizona, to consolidate into The Bank of Verde Valley, Cottonwood, Arizona. * Newspaper: Not available Section II - Applications Subject to Both Newspaper and Federal Register Notice David E. Worthen, Bountiful, Utah, to increase his ownership to 25.81 percent of Brighton Bancorp, Salt Lake City, Utah, which owns Brighton Bank. Terry M. Giles, Santa Ana, California, to acquire 100 percent of Merchant House, Santa Ana, California, which cwns INB Financial Group and its subsidiary bank, Pacific National Bank. Fed. Reg.: 12/01/89 Newspaper: 11/23/89 Fed. Reg.: Not available Newspaper: 12/07/89 Section III - Applications Subject to Federal Register Notice Only First Interstate Bancorp, Los Angeles, California, to engage in asset management and valuation activities through a yet-to-be named subsidiary. Fed. Reg.: Not yet published U.S. Bancorp, Portland, Oregon, to expand the geographic scope of reinsurance activities to nationwide activities currently conducted by Mt. Hood Insurance to be combined into a newly formed subsidiary. Fed. Rea.: Bank of leasing leasing Leasing of Bank Fecr. Reg.: Not available Tokyo, Ltd., Tokyo, Japan, to acquire assets and/or stock in certain subsidiaries of the BancNewEngland Group which is a nonbank subsidiary of New England Corporation. 12/27/89 U.S. Bancorp, Portland, Oregon, to engage in arranging commercial real estate equity financing through U.S. Bancorp Mortgage Company. Fed. Reg.; 12/29/89 CB Bancshares, Inc., Honolulu, Hawaii, to engage in industrial banking and making and servicing loans through a subsidiary, City Finance and Mortgage, Inc. Fed. Reg.: 12/29/89 Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice None * Subject to CRA.
@FedFRASER