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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
OK.2, 1979 No. 51)
Actions of the Board; Applications and Reports
Received During the Week Ending December 22, 1979
APPLICABLE
RESERVE BANK
ACTIONS OF THE BOARD
Statement by Vice Chairman Frederick H. Schultz before
Senate Banking Committee on S. 1988, a bill that
would grant additional lender groups the authority,
new limited to national banks, to set loan rates up
to one percentage point above the Federal Reserve
discount rate regardless of any state law stipulating a lower ceiling.
Statement by Governor Nancy H. Teeters before the
Senate Banking Committee on the Board's enforcement
activities relating to the Equal Credit Opportunity
Act and the Fair Housing Act.
Adoption of two Board policy statements calling for
coordinated action among Federal bank supervisors
with respect to certain examination, supervision
and corrective actions effecting bank holding companies and commercial banks.
Announcement that beginning with reports for the end
of 1979 most details of the quarterly report of the
financial condition of Edge corporations with banking functions will be made public by the Board.
Federal Reserve Board is publishing for comment a
policy statemeryt that would prohibit insiders in
State members banks from profiting personally from
sales of life insurance in connection with credit
transactions; the Board asked for comment through
March 31, 1980.
Federal Reserve announced that it will no longer
purchase bankers acceptances that indicate that the
Iranian Government or any of its controlled entities
is a party to the documents or to the underlying
transactions; also, such acceptance may no longer be
used as oolllateral at the Federal Reserve discount
window.
1
H.2, 1979 No. 51
- 2 ACTIONS OF THE BOARD-Continued
Procedures implementing a section of the Ethics in
Government Act regarding former employees who
violate the post-employment restrictions of Title
V of the Act.
Revisions to bring Regulation F, Securitites of Member State Banks, into conformity with recent rule
revisions by the Securities and Exchange Commission;
at the same time, the Board proposed simplification
of Regulation F; the Board asked for content by
March 1, 1980.
Amendments to Regulation H, Membership of State Banking Institutions in the Federal Reserve System, to
rules announced in July 1979 establishing uniform
standards for bank recordkeeping, confirmation and
other procedures in making securities transactions
for trust departments and other bank customers;
effective January 1, 1980.
Amendments to Regulation Z, Truth in Lending, bearing
on disclosure of the annual percentage rate and
other credit teems; effective date is January 10,
1980, but compliance is optional until October 1,
1980 (Docket No. R-0239)
1980 budget for Federal Reserve Board
Announcement of the appointment of Michael J. Prell
as Associate Director of the Board's Division of
Research and Statistics.
Announcement of the appointment of Robert A. Eisenbeis
as Senior Deputy Associate Director of the Board's
Division of Research and Statistics.
San
Francisco
Commwealth Bank, Hawthorne, California, proposed merger with Desert Empire Bank, Cathedral City, California; report to the Federal Deposit Insurance
Corporation on competitive factors. 1/
Dallas
Deregistration statement for lender registered pursuant
to Regulation G for Wichita Falls Production Credit
Association, Wichita Falls, Texas. 1/
New York
Fidelity Union Trust Company, Newark, New Jersey, permission granted to declare a dividend payable to the
Fidelity Union Bancorporation. 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1979 No. 51
- 3 —
ACTIONS OF THE BQARD-Continued
Atl- ta
Bank of Florida in South Florida, South Miami, Florida,
extension of time to June 30, 1980, within which to
establish a branch to be known as the Kendal l Lakes
Branch. 1/
Cleveland
Beaver Trust Company, Beaver, Pennsylvania, extension
time to June 30, 1980, within which to establish a
branch at 1005 Beaver Grade Road, Moon Township,
(Mo. 1/
Atlanta
Central Bank of Montgomery, Montgomery, Alabama, investment in bank premises. 1/
New York
Manufacturers Hanover Trust Company, New York, New
York, additional investments in bank premises in
connection with the establishment of two foreign
branches. 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1979 No. 51
- 4 ACTIONS OF TOE BQARD-Continued
•Bo Establish a Dcxrestic Branch Pursuant to Section 9
of the Federal Reserve Act
Atlanta
Chicago
Approved
Flagship Bank of Tampa, Tampa, Florida. Branch to
be established at the Northwest corner of the intersection of John Moore Road and West Bloomingdale Avenue, Brandon, Florida. 1/ & 2/
American Trust & Savings Bank, Dubuque, lava. Branch
to be established at 2013 Central Avenue, Dubuque,
Icwa. 1/ & 2/
* * * * *
Issued Intent Not to Disapprove Change of Control
Pursuant to Change in Bank Control Act of 1978
Kansas City
Not Disapproved
Commerce Group Lincoln East, Inc., Lincoln, Nebraska.
y
Kansas City
Commerce Group National Fremont, inc., Fremont, Nebraska.
1/
Kansas City
Commerce Group State Fremont, Inc., Fremont, Nebraska. 1/
* * * * *
To Establish a Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Cleveland
Approved
Pittsburgh International Finance Corporation, Pittsburgh, Pennsylvania: grants consent to establish
and operate a branch in New York, New York and
also to amend Articles First, Third, Seventh's of
EDGE'S Articles of Association to change the name
of EDGE to "Pittsburgh International Bank," to reflect EDGE'S intent to establish a branch in New
York City and to reflect an increase in EDGE'S
capital surplus.
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Comnunity
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
a
,fi£7T.»'v'MS OF THE BOARD-Continued ^
Security Pacific International Bank, New York,
New York: grants consent to establish and
operate branches in Miami. Florida; Houston,
Texas; and Chicago, Illinois.
*
* * * *
Applications and Notifications for International
Investments and Other Actions Pursuant to Sections
25 and 25(a) of the Federal Reserve Act and Sections 4(c) (9) and 4(c) (13) of the Bank Holding
Company Act of 1956, as amended
Approved
Bankers International Corporation, New York, New
York: grants consent to purchase and hold,
directly or indirectly, 1,867,000 additional
shares, and to pay-up 155,000 existing shares
of BT Australia Limited, Sydney, Australia*
Citibank, N.A., New York, New York: grants consent for Consumer Services International Cor poration, Wilmington, Delaware, to make a
capital contribution to FIT Beteiligungsgesel 1~
schaft, mbH, Stuttgart, Germany, and for CSIC
to continue to hold the shares of FIT after
FIT acquires an interest in C.G.Trinkaus &
Burkardt Vermogensverwaltungs -Gesellschaft,
Essen, Germany.
Sixty Day Notification Period Allowed to Expire
Citibank Overseas Investment Corporation,
Wilmington, Delaware: no objection to indirectly acquire through its subsidiary, Broad Investment Corporation, Delaware, up to 150,000
additional common shares of Citicorp Trust
Company, Toronto, Ontario.
Citibank Overseas Investment Corporation,
Wilmington, Delaware: no objection to acquire
additional shares of Citicorp Australia Limited,
Sydney, Australia.
Morgan Guaranty International Finance Corporation, New York, New York: no objection to
make an additional investment in Morgan
Guaranty S.A.E. (INVESTMENT BANK) , Madrid,
Spain.
i
H.2, 1979 No. 51
-
6
-
ACTIONS OF TOE BQARD-CQntinued
To Organize, or Invest in, a Corporation Doing
Foreign Banking and Other Foreign Financing
Pursuant to Section 25 or 25(a) of the Federal
Reserve Act
New York
Approved
J. Henry Schroder Bank & Trust Company, New York,
New York: to establish an Edge Act Corporation
to be known as J. Henry Schroder International
Bank, Miami, Florida.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act 1956
Dallas
Atlanta
Withdrawn
Bosque Corporation, Meridian, Texas, for approval
to acquire 80-99 per cent of the voting shares of
Bosque County Bank of Meridian, Meridian, Texas. 2/
Approved
Clover Bottom Estates, Inc., Hendersonvilie, Tennessee,
for approval to acquire 80 per cent or more of the
voting shares of Bank of Hendersonville, Hendersonville, Tennessee. 2/
Atlanta
Sabrina Properties, N.V., Curacao, Netherlands Antilles,
and Eagle National Holding Company, Inc., Miami,
Florida, for approval to acquire 81.2 per cent of the
voting shares of Central National Bank of Miami, Miami,
Florida. 2/
Chicago
FIRST CICERO BANC CORPORATION, Chicago, Illinois,
for approval to acquire 80 per cent or more of
the voting shares of the First National Bank of
Cicero, Cicero, Illinois. 1/ & 2/
Chicago
Marshall - Putman County BanCorporation, Inc.,
Varna, Illinois, for approval to acquire 86.0
per cent or more of the voting shares of Marshall County State Bank, Varna, Illinois. 1/ & 2/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Ccmnunity Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
- 7
H.2, 1979 No. 51
ACTIONS OF THE BOARD-Continued
St. Louis
Elizabethtown Bancshares, Inc., Elizabethtown,
Kentucky, for approval to acquire 80.1 per cent
of the voting shares of Citizens Bank of Elizabethtownf Elizabethtown, Kentucky. 1/ & 2/
St. Louis
Steelville Community Banc-Shares, Inc., Steelville,
Missouri, for approval to acquire 80.5 per cent
of the voting shares of Cortnunity Bank, Steelville,
Missouri. 1/ & 2/
Minneapolis
Carthage Holding Company, Inc., Carthage, South
Dakota, for approval to acquire 93.8 per cent or
more of the voting shares of Farmers State Bank of
Carthage, Carthage, South Dakota. 1/ & 2/
Minneapolis
Delano State Agency, Inc., Delano, Minnesota, for
approval to acquire 69.1 per cent of the voting
shares of State Bank of Delano, Delano, Minnesota.
V & 2/
Minneapolis
Hoffman Bancshares, Inc., Hoffman, Minnesota, for
approval to acquire 81.4 per cent of the voting
shares of Farmers State Bank, Hoffman, Minnesota.
]/ & 2/
Kansas City
Aspen Bancorp, Inc., Aspen, Colorado, for approval
to acquire 100 per cent (less directors' qualifying
shares) of the voting shares of The Bank of Aspen,
Aspen, Colorado. 2/
Dallas
Ranger Financial Corporation (a Texas Corporation),
Ranger, Texas, for approval to acquire 100 per
cent of the voting shares (less directors1
qualifying shares) of Ranger Financial Corporation (a Delaware Corporation) Ranger, Texas,
thereby acquire 93 per cent of the voting shares
of First State Bank, Ranger, Texas, and 96.5
per cent of the voting shares of First State Bank
in Tuscola, Tuscola, Texas. 1/ & 2/
17 Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1979 No. 51
-
8
-
ACTIONS OF THE BQARCK^tinued
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Chicago
Approved
Security Bancorp, Inc., Southgate, Michigan, for
approval to acquire 100 per cent of the voting
shares of the successor by consolidation to the
Keatington State Bank, Lake Orion, Michigan. 1/ &
2/
Chicago
Security Bancorp, Inc., Southgate, Michigan, for
approval to acquire 100 per cent of the voting
shares of the successor by consolidation to
Security Bank of Richmond, Richmond, Michigan.
1/ & 2/
Minneapolis
Northwest Bancorporation, Minneapolis, Minnesota,
for approval to acquire 80 per cent or more of
the voting shares of Atlantic State Bank,
Atlantic, Iowa. 1/ & 2/
Kansas City
J. J. Flynn Investment Co., Inc., Parsons, Kansas,
for approval to acquire up to 45.3 per cent of
the voting shares of The State Bank of Parsons,
Parsons, Kansas. 1/ & 2/
Dallas
First City Bancorporation of Texas, Inc., Houston,
Texas, for approval to acquire 100 per cent of
the voting shares (less directors1 qualifying
shares) of First City Bank-Greenspoint, N.A.,
Houston, Texas, a proposed new bank. 1/ & 2/
Dallas
First City Bancorporation of Texas, Inc., Houston,
Texas, for approval to acquire 100 per cent of
the voting shares of First City Bank-Westheimer,
N.A., Harris County, Texas, a proposed new bank.
1/&2/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
1
H.2, 1979 No. 51
- 9 ACTIONS CF TOE BQARD-Continued
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Chicago
Approved
Financial Services Corporation of the Midwest , Rock
Island, Illinois, for approval to engage de novo
in the issuance and in the retail sale of money
orders having a face value of not more than $1,000
through its nonbank subsidiaries and offices of its
consumer finance subsidiaries located in Illinois,
Iowa, Minnesota, North Dakota and Wisconsin.
St. Louis
Steelville Ccxanunity Banc-Shares, Inc., Steelville,
Missouri, for permission to engage in the sale of
credit life and credit accident and health insurance
directly related to extensions of credit made by
Community Bank, Steelville, Missouri. 1/
San
Francisco
Seafirst Corporation, Seattle, Washington, for approval
to acquire 100 per cent of the voting shares of
Sutter Trust Company, Phoenix, Arizona.
Richmond
Boston
Reactivated
NCNB Corporation, Charlotte, North Carolina, notification of intent to engage" in de novo activities
(acquiring and liquidating real estate and other
property presently owned directly and indirectly,
by NCNB Corporation's subsidiaries, NCNB Mortgage
Corporation and TranSouth Financial Corporation,
which property has previously been obtained by
said subsidiaries through foreclosure or otherwise acquired in connection with debts previously
contracted) at One NCNB Plaza, Charlotte, North
Carolina, through a subsidiary, MAR, Inc. (12/31/79)
3/
Permitted
Industrial National Corporation, Providence, Rhode
Island, notification of intent to engage in de
novo activities (the origination and sale of
residential mortgages and the servicing of residential mortgage loans) at The Orbit Building,
10111 Lincoln Trail, Fairview Heights, Illinois,
through Industrial National Corporation's indirect
subsidiary. Mortgage Associates, Inc. (12/21/79) 3/
37 Application processed on behalf of the Board of Governors under delegated
authority.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 51
-
10 -
ACTIONS OF THE BOARD-Continued
New York
Manufacturers Hanover Corporation, New York, New
York, notification of intent to engage in de novo
activities (making or acquiring, for its cwn account
or for the account of others, loans and other extensions of credit such as would be made by a
catmercial finance company? and arranging or servicing
such loans and other extensions of credit for any
person) in The Sears Tower, 233 South Wacker Drive,
Chicago, Illinois, through its subsidiary,
Manufacturers Hanover Commercial Corporation
(12/16/79) 3/
Philadelphia
New Jersey National Corporation, Trenton, New
Jersey, notification of intent to relocate
de novo activities (making, acquiring, selling
and servicing, for its cwn account or the account
of others, loans and other extensions of credit
principally secured by mortgages) frcm Washington
Square Professional Building, Blackhouse Pike
and Fries Mill Road, Turnersville, New Jersey
to Ashland Office Center, Eversham and Alpha
Avenues, Voorhees Township, New Jersey, through
its direct subsidiary, Underwood Mortgage and
Title Company (12/23/79) 3/
Cleveland
Atlanta
Correction:
Hie notice for Mellon National Corporation, Pittsburgh, Pennsylvania, to engage in general consumer finance activities at 10640 North 56th
Street, Tampa, Florida, 2600 Wabash Avenue, Terre
Haute, Indiana and Melanie Square Shopping Center,
Pendleton, Oregon, through a subsidiary, Freedom
Financial Services Corporation was Permitted on
H.2 No. 50 (10/10/79). The correct approval date
should have been (12/10/79) 3/
Correction:
The notice for First Capital Corporation, Jackson,
Mississippi, to retain its wholly-owned subsidiary,
F.S. Corporation and to continue to engage in activities in Jackson, Greenville, McCanb, Greenwood and
Tylertown, Mississippi was Permitted on H.2 No.
50 (10/10/79). The correct approval date should
have been (12/10/79) 3/
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 51
-
11 -
ACTICMS OF THE BCARD-Continued
Atlanta
Southwest Florida Banks, Inc., Fort Myers, Florida,
notification of intent to engage in de novo activities (to engage in the operation of a trust company
including activities normally pursued by trust
companies such as fiduciary, custody, agency and
investment advisory services) in Sarasota, Naples,
and Fort Myers, Florida, through a subsidiary, The
National Trust Company. (12/21/79) 3/
Chicago
Heritage Wisconsin Corporation, Wauwatosa, Wisconsin,
notification of intent to engage in de novo activities (to continue to engage in the sale of homeowners insurance and to engage in the sale of
lenders dual interest insurance) at 2323 N. Mayfair Road, Wauwatosa, Wisconsin, through its subsidiary, Heritage Insurance Agency, Inc. (12/11/79)
Chicago
Merchants National Corporation, Indianapolis, Indiana,
notification of intent to relocate de novo activities (leasing of capital goods and equipment to industry, banks, or others, or acting as agent, broker
or adviser in leasing such personal property where
at the inception of the initial lease the effect of
the transaction will yield a return that will compensate the lessor for not less than the lessor's
full investment in the property plus the estimated
total cost of financing the property over the term
of the lease, and such leases shall contain such
other terms and conditions as shall comply with Section 225.4(a) (6) (a) of Regulation Y) frcm 185
Northlawn, Birmingham, Michigan to 2805 Coit Avenue,
N.E., Grand Rapids, Michigan, through its subsidiary,
Circle Leasing of Michigan Corp. (12/20/79) 3/
Kansas City
Century Bancorporaticxi, Tulsa, Oklahoma, notification of intent to engage in de novo activities (to engage in the business of making
commercial and consumer loans similar in nature
to those made by a finance or mortgage company)
at 6229 East 21st Street, Tulsa, Oklahoma,
through a subsidiary, Action Financial Corporation (12/17/79) 3/
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H*2, 1S7B No. SI
- 1 2 -
ACT1QNS OF THE BQAREK^tinued
San
Francisco
BankAmerica Corporation, San Francisco, California,
notification of intent to engage in de novo
activities (to engage in lending, industrial loan,
loan servicing, and insurance agency activities)
at Downtown West Village, 1645 Downtown West
Boulevard, Suite 33, Knoxville, Tennessee, through
its indirect subsidiary, FinanceAmerica Corporation
(Tennessee) (12/20/79) 3/
San
Francisco
First Security Corporation, Salt Lake City, Utah,
notification of intent to engage in de novo
activities (to engage in the origination and
servicing of mortgage loans) at 535 East Plumb
Lane, Reno, Nevada, through its subsidiary, Utah
Mortgage Loan Corporation (12/20/79) 3/
San
Francisco
Zions Utah Bancorporation, Salt Lake City, Utah,
notification of intent to engage in de novo
activities (providing data processing services,
including payroll accounting services, Deposit
Account Reconciliation Service, microfilm and
microfiche services as output options, cash
management system and other financially related
data processing services to other financial institutions, banks, bank holding companies and
the general public) at 2200 South 3270 West,
Salt Lake City, Utah, through a subsidiary,
Zions Data Service Canpany (12/19/79) 3/
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 51
-13ACTICNS OF THE BQAECHContinued
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
How-Win Development Co., Cresco, Icwa ("Hcw-Win"),
prior certification pursuant to section 1101(a)
of the Internal Revenue Code, that its proposed
divestiture of all the farmland and farm-related
property currently held by How-Win, through the
pro rata distribution of shares of a proposed
new corporation formed solely for the purpose of
receiving such property, to all of the shareholders of Hcw-Win, is necessary or appropriate
to effectuate section 4 of the Bank Holding Company Act. Legal Division Docket No. ICR 76-181
y
Pioneer Industrial Park, Inc., Peoria, Illinois,
prior certification pursuant to section 1101(b)
of the Internal Revenue Code, that its proposed
divestiture of 9,000 shares of Pioneer State
Bank, Peoria, Illinois presently held by Pioneer
through the pro rata distribution of such shares
to Pioneer's six shareholders, is necessary or
appropriate to effectuate the policies of the
Bank Holding Company Act. Legal Division Docket
No. ICR 76-185 */
V
Processed on behalf of the Board of Governors, acting through its
General Counsel, pursuant to delegated authority.
H.2, 1979 No. 51
- 14 APPLICATIONS RECEIVED
To Establish a Dcmstic Branch Pursuant to Section
9 of the Federal Reserve Act
Atlanta
Trust Company Bank, Atlanta, Georgia. Branch to
be established at Jonesboro Road and Londondary
Way, Union City, Georgia. 2/
Chicago
Farmers and Merchants State Bank of Sebewring,
Michigan. Branch to be established in the
vicinity of 700 North Van Dyke Road, Verona
TtMiship, Huron County, Michigan. 2/
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Cleveland
First Ohio Bancshares, Inc., Toledo, Ohio, for
approval to acquire 100 per cent (except
directors' qualifying shares) of the voting
shares of First National Bank of Toledo,
Toledo, Ohio. 2/
Cleveland
New Richmond Bancorporatian, New Richmond, Ohio,
for approval to acquire 80 per cent car more of
the voting shares of The New Richmond National
Bank, New Richmond, Ohio. 2/
Atlanta
Commerce Bank Corporation, Jacksonville, Florida,
for approval to acquire 85 per cent or more of
the voting shares of The First National Bank of
Lake City, Lake City, Florida. 2/
Chicago
Ferryville Bancshares, Inc., Ferryville, Wisconsin,
for approval to acquire 94.6 per cent of the
voting shares of Ferryville State Bank, Ferryville, Wisconsin. 2/
Chicago
Hi-Bancorp., Inc., Highwood, Illinois, for
approval to acquire 80 per cent or more of the
voting shares of Bank of Highwood,- Highwood,
Illinois. 2/
2/ Application subject to Ccranunity Reinvestment Act. The Ccmmunity
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the. content period.
H.2, 1979 No. 51
-15APPLICATICNS REX^EIVED-Continued
Chicago
Laurens Bancorp., Ltd., Laurens, lava, for approval
to acquire 80 per cent or more of the voting
shares of Laurens State Bank, Laurens, lava. 2/
Minneapolis
Ada Banc Shares, Inc., Ada, Minnesota, for approval
to acquire 93.9 per cent of the voting shares of
The Ada National Bank, Ada, Minnesota. 2/
Dallas
American Bancshares, Inc., Monroe, Louisiana, for
approval to acquire 80-100 per cent of the voting
shares of American Bank and Trust Company in
Monroe, Monroe, Louisiana. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Richmond
First Virginia Banks, Inc., Falls Church, Virginia,
for approval to acquire 100 per cent of the voting
shares of First Virginia Bank of Frederick County,
Stephens City, Virginia, a proposed new bank. 2/
Atlanta
SBT Corporation, Savannah, Georgia, for approval
to acquire 100 per cent of the voting shares of
Commercial Bank, Waycross, Georgia. 2/
Chicago
Hawkeye Bancorporation, Des Moines, lava, for
approval to acquire 100 per cent of the voting
shares of Hawkeye State Bank, lava City, lava.
1/
Dallas
Mercantile Texas Corporation, Dallas, Texas, for
approval to acquire 100 per cent of the voting
shares of PanNational Group Inc., El Paso, Texas
and indirectly acquire The State National Bank
of El Paso, El Paso, Texas; The First National
Bank of Waco, Waco, Texas; Bassett National Bank
of El Paso, El Paso, Texas; Franklin National Bank,
El Paso, Texas; and Vista Hills Bank of El Paso,
El Paso, Texas. 2/
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1979 No. 51
—
16
—
APPLICATIONS RECEIVED-Continued
Dallas
Republic of Texas Corporation, Dallas, Texas, for
approval to acquire 100 per cent of the voting
shares (less directors1 qualifying shares) of
Bank of Austin, Austin, Texas. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Boston
Heritage Banks, Inc., Rochester, New Hampshire,
notification of intent to continue to engage in
de novo activities (Guaranty Savings Bank activities including the acceptance of time and savings
deposits, the extensions of consumer, real estate
mortgage, VISA credit card and commercial loans,
and trust and notarial services) at at Lilac Mall,
Route 16, Rochester, New Hampshire (12/19/79) 3/
New York
Fidelity Union Bancorporation, Newark, New Jersey,
notification of intent to engage in de novo
activities (making consumer loans and making
available to its consumer, credit life and credit
disability insurance covering the unpaid balance
of loans outstanding and fire and theft insurance
to protect household goods held as collateral
during the periods of credit extensions) at Routes
11 and 15, Shamokin Dam, Snyder County, Pennsylvania,
through its indirect subsidiary, Sentry Consumer
Discount Company (12/18/79) 3/
New York
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities (purchasing installment sales finance contracts,
and to sell credit life insurance, accident and
health insurance, and property damage and liability
insurance directly related to such finance activities) at Cornell Drive and Maple Avenue, Bridgeton;
Route 202, Flemington; 29 West White Horse Pike,
Berlin; 3 Kings Highway East, Haddonfield; 2620
Federal Street, Camden; 214 Bellevue Avenue,
Harmonton; Route 130 and Willow Drive, Cinnaminson;
13 Commerce Walk, Lambertville; 1638 Kings Highway
Store #4, Cherry Hill; 430 Bridgeton Pike, Mantua;
285 S. Church Street, Moorestcwn; Williams town and
Sicklerville Road, Sicklerville; Black Horse Pk. and
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the Garment period.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
- 17 -
H.2, 1979 No. 51
APPLICATIONS BECEIVEl><>Dntinued
Doughty Road, Pleasantville; 38 West Landis Avenue,
Vineland; Virginia Avenue and Marsden Ave., Penns
Grove; Route 130, Willingboro; and 19 Scott Street,
Riverside; all in New Jersey, through its subsidiary,
Bitter Finance Company, Inc. of New Jersey (12/17/79)
1/
Richmond
NCNB Corporation, Charlotte, North Carolina, notification of intent to engage in de novo activities
(operating as a mortgage banking company, including
the origination of residental (FHA, VA and conventional) mortgage loans for sale to investors, the
origination of construction and development loans;
and, in connection with residential mortgage loans,
the sale, as agent, of credit life and credit accident
and health insurance) at 68 Patton Avenue, Asheville,
North Carolina, through its subsidiary, NCNB Mortgage
Corporation (12/17/79) 3/
Minneapolis
First State Agency of Lake Lillian, Inc., Lake Lillian,
Minnesota, for approval to continue to engage in
general insurance activities.
Kansas City
First Oklahoma Bancorporation, Inc., Oklahoma City,
Oklahoma, notification of intent to engage in
de novo activities (to continue to engage in the
activity of operating a trust certificate program)
at an office in Oklahoma City, Oklahoma (12/18/79)
3/
San
Francisco
Security Pacific Corporation, Los Angeles, California,
for approval to engage, through a de novo subsidiary,
Loan Closing Services, Inc., in providing services
to attorneys in connection with the closing of loans
originated by Security Pacific Mortgage Corporation
and other lenders at an office in Atlanta, Georgia.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c) (12) of the Bank Holding Company Act of 1956
Chicago
Berkshire Hathaway, Inc., New Bedford, Massachusetts,
and nonbanking subsidiaries, notification of intent
to acquire more than 5 per cent of the outstanding
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 51
- 18 -
APPLICATIONS RECEIVED-Cantinued
voting stock of Consolidated Freightways, Inc.,
San Francisco, California, and Overnite Transportation Catpany, Richmond, Virginia (12/18/79)
1/
* * * * *
REPORTS RECEIVED
None. t.
* * * * *
PETITIONS FOR RULEMAKING
None.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
@FedFRASER