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ANNOUNCEMENT BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1988, No. 52 Actions of the Board, its Staff, and the Federal Reserve Banks? Applications and Reports Received During the Week Ending Deceinber 24, 1988. ACTIONS TAKEN BY THE BOARD OF GOVERNORS BANK HOLDING COMPANIES Bank of Boston Corporation, Boston, Massachusetts — to acquire factoring assets and related liabilities of First Union Commercial Corporation, Charlotte, North Carolina. Approved, December 20, 1988. Barnett Banks, Inc., Jacksonville, Florida — to acquire Barnett Federal Savings Bank, the successor to First Federal Savings and Loan Association of Columbus, Georgia. Approved, December 20, 1988. First Bank System, Inc., Minneapolis, Minnesota — to merge with Suburban Bancorporation, Inc., Eden Prairie, Minnesota, and acquire Suburban National Bank. Approved, December 20, 1988. The Fuji Bank, Limited, Tokyo, Japan — to acquire Kleinwort Benson Government Securities Inc., Chicago, Illinois, and engage in certain securities and financial advisory activities. Approved, December 19, 1988. MNC Financial, Inc., Baltimore, Maryland — to acquire Virginia Federal Savings Bank, Richmond, Virginia. Approved, December 20, 1988. BOARD OPERATIONS Office of the Secretary — appointment of Jennifer J. Johnson as Associate Secretary. Approved, December 20, 1988. Salaries — general pay increase of 4.1 percent for Board employees under the regular salary schedule, effective January 1, 1989. Approved, December 19, 1988. Salaries — new salary schedules and compensation program for Wage/Printing staff employees, effective January 15, 1989. Approved, December 19, 1988. H. 2 DECEMBER 19, 1988 PAGE 2 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE BOARD OF GOVERNORS INTERNATIONAL OPERATIONS Ormside Proprietary Limited, Melbourne, Australia; Overseas Finance Holdings Proprietary Limited; Aylworth Proprietary Limited; Costa Mesa Limited, London, England; Costa Mesa Holding Curacao, Netherlands Antilles; Citizens Financial Holdings B.V.; Amsterdam Netherlands; and Citizens Holdings, Newport Beach, California — to acquire Pratt Finance (Asia) Limited, Hong Kong. Approved, December 19, 1988. ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Chicago Bankers Trust Company, Des Moines, Iowa — to establish an automated teller machine at Food Saver, 3799 86th Street, Urbandale, Iowa. Approved, December 20, 1988. Chicago Comerica Bank - Detroit, Detroit, Michigan — to retain offsite electronic facilities at GM Poletown Plant, 2500 E. General Motors Blvd; CPC Headquarters, 30001 Mound Road, Warren; and Oaktec, 3551 Hamlin Road, Auburn Hills, Michigan. Approved, December 20, 1988. AtlaSnta Family Bank of Hallandale, Hallandale, Florida — establish a branch at 4491 South State Road 7, Davie, Florida. Approved, December 22, 1988. Cleveland Ohio Citizens Bank, Toledo, Ohio — to establish a branch at 7105 Spring Meadows W. Drive, Holland, Ohio. Approved, December 19, 1988. Chicago The Ripley County Bank, Osgood, Indiana — to establish a branch at the corner of Carr and Franklin Streets, Milan, Indiana. Approved, December 21, 1988. / to H.2 DECEMBER 19, 1988 PAGE 3 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Chicago Security Bank and Trust Company, Southgate, Michigan — to establish a branch in the vicinity of Six Mile and Haggerty Road, Livonia, Michigan. Approved, December 20, 1988. BANK HOLDING COMPANIES Kansas City Affiliated Bankshares of Colorado, Inc., Denver, Colorado — to engage de novo in credit related and general insurance activities. Permitted, December 21, 1988. Minneapolis American Bancorporation, Inc., St. Paul, Minnesota, and Jacob Schmidt Company — to acquire Barnesville Investment Corporation, Barnesville; First National Bank; and engage in insurance agency activities through First Agency of Barnesville. Approved, December 19, 1988. St. Louis Bainum Bancorp, Glenwood, Arkansas — Bank of Glenwood. Approved, December 19, 1988. to acquire The H.2 DECEMBER 19, 1988 PAGE 4 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY • BANK HOLDING COMPANIES Kansas City Conway BanCorp, Inc., Conway Springs, Kansas — acquire The State Bank of Conway Springs. Approved, December 21, 1988. to Minneapolis Dassel Investment Company, Minneapolis, Minnesota — to acquire .54 percent of Fidelity State Bank, New Prague, Minnesota. Approved, December 20, 1988. New York Evans Bancorp, Inc., Angola, New York — The Evans National Bank of Angola. Approved, December 21, 1988. Cleveland Fifth Third Bancorp, Cincinnati, Ohio — to acquire New Palestine Bancorp, New Palestine, Indiana. Approved, December 21, 1988. Richmond First Banc Securities, Inc., Morgantown, West Virginia — to acquire First Bank, National Association, Uniontown, Pennsylvania. Approved, December 22, 1988. Philadelphia First Fidelity Bancorporaticn, Newark, New Jersey — to expand service area through First Fidelity Community Development Corporation. Permitted, December 19, 1988. to acquire H.2 DECEMBER 19, 1988 PAGE 5 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago First of America Bank Corporation - Indiana, Kalamazoo, Michigan, and First of America Bank Corporation, Kalamazoo — to acquire Wabash Valley Bancorporation, Inc., Peru, Indiana, and Wabash Valley Bank and Trust Company. Approved, December 20, 1988. Chicago First Wisconsin Corporation, Milwaukee, Wisconsin — to acquire Metro Bancorp, Incorporated, Phoenix, Arizona, and Metropolitan Bank. Approved, December 19, 1988. Chicago IBT Bancorp, Mt. Pleasant, Michigan — Isabella Bank and Trust. Approved, December 20, 1988. Chicago Indecorp, Inc., Chicago, Illinois — to acquire Drexel Holding Company, Oak Park, Illinois, and Drexel National Bank, Chicago, Illinois. Approved, December 23, 1988. New York Lakeland Bancorp, Inc., Newfoundland, New Jersey — to acquire Lakeland State Bank. Approved, December 21, 1988. Chicago NBD Bancorp, Inc., Detroit, Michigan — to acquire Serve Corps Mortgage Corp., Downers Grove, Illinois. Permitted, December 23, 1988. to acquire H.2 DECEMBER 19, 1988 PAGE 6 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES St. Louis Old National Bancorp, Evansville, Indiana — to acquire the successor by merger to First Service Bancshares, Inc., Greenville, Kentucky, and The First State Bank of Greenville, Kentucky, Inc.. Approved, December 21, 1988. Minneapolis Park Financial Corporation, St. Louis Park, Minnesota — to engage de novo in discount brokerage through Park Investment Corporation. Permitted, December 21, 1988. San Francisco PTB Corporation, Salem, Oregon — to acquire Pioneer Trust Bank, N.A., Salem, Oregon. Approved, December 22, 1988. Richmond Sovran Financial Corporation, Norfolk, Virginia — acquire First National Bank of Collierville, Collierville, Tennessee. Approved, December 19, 1988. to Richmond Sovran Financial Corporation, Norfolk, Virginia — acquire First Bank of Marion County, South Pittsburg, Tennessee. Approved, December 19, 1988. to Atlanta SunTrust Banks, Inc., Atlanta, Georgia — to engage de novo in home mortgage redemption insurance through SunTrust Insurance Company. Permitted, December 23, 1988. * Dallas Wheeler County Bancshares Inc., Shamrock, Texas — acquire First Bank & Trust. Approved, December 19, 1988. Kansas City Whiting Bankshares, Inc., Whiting, Kansas — to acquire The State Bank of Lancaster, Lancaster, Kansas. Approved, December 23, 1988. to H .2 DECEMBER 19, 1988 PAGE 7 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK MERGERS San Francisco The Continental Bank & Trust Company, Salt Lake City, Utah — to acquire certain assets and liabilities of The Tracy Collins Bank and Trust Company. Approved, December 23, 1988. St. Louis First Bank of Johnston City, Johnston City, Illinois — to merge with First Bank of Carbondale, Carbondale, Illinois. Approved, December 22, 1988. BANK PREMISES Cleveland Ohio Citizens Bank, Toledo, Ohio — bank premises. Approved, December 19, 1988. investment in Chicago Peoples Bank, Bloomington, Illinois — bank premises. Approved, December 21, 1988. Chicago Rushville State Bank, Rushville, Illinois — investment in bank premises. Approved, December 19, 1988. St. Louis UniSouth Banking Corporation, Columbus, Mississippi — investment in bank premises. Approved, December 21, 1988. investment in H.2 DECEMBER 19, 1988 PAGE 8 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CAPITAL STOCK Kansas City Circle Management Company# Kearney# Nebraska — redemption of shares. Approved# December 23# 1988. Kansas City Greater Metro Bank Holding Company# Aurora# Colorado — redemption of shares. Approved# December 23# 1988. Atlanta Guaranty Capital Corporation# Mamou# Louisiana — redemption of shares. Approved# December 23# 1988. CHANGE IN BANK CONTROL Kansas City Circle Management Company# Kearney# Nebraska — change in bank control. Permitted# December 23# 1988. Minneapolis First Bancshares of Valley City# Inc.# Valley City# North Dakota — change in bank control. Permitted# December 21# 1988. New York First Empire State Corporation# Buffalo# New York — change in bank control. Permitted# December 19# 1988. Atlanta Hartsville Bancshares# Inc.# Hartsville# Tennessee change in bank control. Permitted# December 23# 1988. Chicago Highland Community Company# Chicago# Illinois — change in bank control. Permitted# December 19# 1988. Dallas Luling Bancshares# Inc.# Luling# Texas — bank control. Returned# December 19# 1988. change in H.2 DECEMBER 19, 1988 PAGE 9 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL St. Louis National Banking Corp., North Little Rock, Arkansas — change in bank control. Permitted, December 23, 1988. COMPETITIVE FACTORS REPORTS Cleveland First Bank, National Association, Uniontown, Pennsylvania, proposed purchase and assumption of certain liabilities of three branch offices of Gallatin National Bank; and two branches of First National Bank & Trust Company, Washington, Pennsylvania — report on competitive factors. Submitted, December 20, 1988. Chicago Keokuk Savings Bank & Trust Company, Keokuk, Iowa, proposed merger with Norwest Bank Keokuk, N.A. — report on competitive factors. Submitted, December 21, 1988. Chicago Metrobank, East Moline, Illinois, proposed merger with Coloma Avenue State Bank — report on competitive factors. Submitted, December 20, 1988. Boston The New Haven Savings Bank, New Haven, Connecticut, proposed acquisition of the Old Saybrook Branch of Society For Savings, Hartford, Connecticut — report on competitive factors. Submitted, December 22, 1988. Atlanta Peoples State Bank, New Port Richey, Florida, proposed purchase of assets and assumption of liability to pay deposits of the Bayonet Square Branch of Pioneer Savings Bank — report on competitive factors. Submitted, December 23, 1988. New York Redwood National Bank, Alexandria Bay, New York, proposed merger with RNB National Bank — report on competitive factors. Submitted, December 21, 1988. H.2 DECEMBER 19, 1988 PAGE 10 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS San Francisco Santa Barbara Bank and Trust, Santa Barbara, California, proposed merger with Community Bank of Santa Ynez Valley, Solvang, California — report on competitive factors. Submitted, December 20, 1988. San Francisco Trans Pacific National Bank, San Francisco, California, proposed acquisition of certain assets and assumption of liabilities of the main branch of Golden Coin Savings & Loan Association — report on competitive factors. Submitted, December 22, 1988. EXTENSIONS OF TIME New York BNB Holding Company, Inc., New York, New York — extension to March 19, 1988, to acquire Broadway National Bank. Granted, December 19, 1988. San Francisco Canadian Imperial Bank of Commerce, Toronto, Ontario, Canada — extension to divest certain shares. Granted, December 22, 1988. Atlanta The Citizens and Southern Corporation, Atlanta, Georgia; Citizens and Southern Georgia Corporation; and C&S Business Credit Inc., Tucker, Georgia — extension to March 18, 1989, to acquire certain assets of Citizens and Southern Commercial Corporation; and Chemical Business Credit Corp., Long Island, New York; and Chemical Bank, New York, New York. Granted, December 19, 1988. Richmond Sovran Financial Corporation, Norfolk, Virginia — extension to March 23, 1989, to engage in trust company activities. Granted, December 23, 1988. H.2 DECEMBER 19, 1988 PAGE 11 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY INTERNATIONAL OPERATIONS New York Irving International Financing Corporation, New York, New York — to invest "in SPS Negocios e Participacoes SC Limitada, Rio de Janeiro, Brazil. Permitted, December 24, 1988. Atlanta Whitney National Bank, New Orleans, Louisiana — establish a shell branch in Georgetown, Grand Cayman, British West Indies. Approved, December 19, 1988. St. Louis Landmark Bank of Edgemont, East St. Louis, Illinois — six month waiting period to withdraw from membership in the Federal Reserve System. Waived, December 23, 1988. St. Louis Landmark Bank of Mascoutah, Mascoutah, Illinois — six month waiting period to withdraw from membership in the Federal Reserve System. Waived, December 23, 1988. to MEMBERSHIP H. 2 ADDITIONS AND CORRECTIONS DECEMBER 19, 1988 PAGE 12 TO DECEMBER 24, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY INTERNATIONAL OPERATIONS Philadelphia Fidelity Bank, National Association, Malvern, Pennsylvania — to establish a branch in Hong Kong. Withdrawn, November 28, 1988. FEDERAL RESERVE BANK OF BOSTON APPLICATIONS SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Application Ccranent Period Ending Date NONE SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Ccranent Period Ending Date Eastern Savings Bancorp, Inc., Lynn, Massachusetts 3(a)(1)/4(c)(8) application to becane a bank holding canpany through the acquisition of Eastern Bank, Lynn, Massachusetts* Newspaper 12-31-88 Federal Register 01-05-89 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Ccranent Period Ending Date Fleet/Norstar Financial Group, Inc., Providence, Rhode Island - 4(c)(8) application for prior approval of the acquisition of approximately 35% of the outstanding voting capital stock of Capital Guaranty Corporation, San Francisco, California Federal Register Not Yet Established Bank of New England Corporation, Boston, Massachusetts - 4 (c)(8) application to engage in the underwriting and dealing of all types of debt securities through ENE Capital Markets, Inc., Boston, Massachusetts Federal Register Not Yet Established ♦Subject to CRA SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Canment Period Ending Date BayBanks, Inc., Boston, Federal Register Massachusetts - 4(c)(8) application to acquire 11.21% of the voting shares of The New York Switch Corporation, Hackensack, New Jersey SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER O R NEWSPAPER NOTICE Application NONE 01-13-89 Federal Reserve Bank of New York Comment Period Ending Date SECTION I Applications Subject to Newspaper ____________ Notice Only__________ Central Trust Company, Rochester, New York to establish a branch at the Per inton Square Mall, c o m e r of Routes 250 and 31, Fairport, New York.l/ 1/19/89 United Jersey BanVCcmmercial Trust, Jersey City, New Jersey to establish a branch at Newport Office Center I, 2 Pavonia Street, Jersey City, New Jersey. 1/ 1/19/89 Chemical Bank, New York, New York to establish branches at (1) Gralla Publications, 1515 Broadway, New York, New York; (2) North General Home Attendant Corporation, 205 East 122nd Street, New York, New York; (3) The Guardian, 201 Park Avenue South, New York, New York; (4) Mary Manning Walsh Heme, 1339 York Avenue, New York, New York; (5) The Parkway Hospital, 70-35 113th Street, Forest Hills, New York; (6) Interfaith Medical Center, 555 Prospect Place, Brooklyn, New York; (7) Interfaith Medical Center, 1545 Atlantic Avenue, Brooklyn, New York; and (8) Willkie Farr & Gallagher, Citicorp Center, 153 East 53rd Street, New York, New York.l/ 1/19/89 Chemical Bank, New York, New York to establish branches at (1) Ccwen & Company, Financial Square, 32 Old Slip, New York, New York; and (2) American Express Travel Related Services, 770 Broadway, New York, New York.l/ 1/23/89 SECTION II Applications Subject to Both Newspaper and Federal Register Notice Eastchester Financial Corporation, White Plains, New York to become a bank holding company with respect to Eastchester Savings Bank, White Plains, New York.l/ 1/21/89 Employees' Prof it-Sharing Plan of United States Trust Company of New York and Affiliated Companies, New York, New York to acquire up to 16% of the shares of U.S. Trust Corporation, New York, New York. N/A 3/ Federal Reserve Bank of New York Comment Period Ending Date SECTION III Nonbanking Applications (Subject to Federal Register Notice Only) Canadian Imperial Bank of Commerce, Toronto, Canada to engage through its subsidiary, Wood Gundy Corp., in underwriting and dealing, to a limited extent, in (1) debt securities and (2) equity securities. N/A SECTION IV Applications Not Involving ______ Public Comment______ None. 1/ 2/ 3/ Subject to provisions of Community 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 FEDERAL RESERVE BANKOF PHILADELPHIA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date Meridian Bank’, Reading, PA to make an I f additional investment in bank premises pursuant to Section 24A of the Federal Reserve Act by establishing a Loan Production Office to be located at 455 Business Center Drive, Horsham Business Center/Canterberry Corporate Center, Horsham, Montgomery County, PA 1/17/89 Corrections to Section I of the Applications Bulletin (2 different weeks) Bulletin dated 12/19/88 - Berks County Bank, Reading, PA to establish an off-site electronic banking facility to be located at St. Joseph Hospital, 12th and Walnut Sts., Reading, PA - change newspaper comment period from 1/11/89 to 1/18/89. 1/ Bulletin dated 12/5/88 - change the newspaper comment period on the two below from 12/25/88 to 1/18/89 Farmers Trust Company of Lebanon, Pa., Lebanon, PA to establish a branch in the North Londonderry Square Shopping Center, Route #422, North Londonderry Township, Lebanon County, Palmyra, PA 1/ Farmers Trust Company of Lebanon, Pa., Lebanon, PA to establish a branch in the Cedar Credit Square Shopping Center, Route #72, North Cornwall Township, Lebanon County, PA 1_/ 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. Ten Independence Mall, Philadelphia, PA 19106,(215)574-6000 Applications Bulletin For Week Ending December 24, 1988 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY 3c, \cyih. Received application on November 30, 1 9 8 8 from Commerce Exchange Bank, Beachwood, Ohio, for permission to establish a branch at 25000 Country Club Boulevard, North Olmsted, Ohio. *January SECTION II - APPLICATIONS SUBJECT TO BOTO NEWSPAPER AND FEDERAL REGISTER NOTICE Received Section 3(a) (1) application on December 2, 1988 from New Financial Corp., Wilmington, Delaware, to acquire Bank of Delaware Corporation, Wilmington, Delaware. * # N F - * F - January 3, 1989 Received Section 3(a)(3) application on December 21, 1988 from The National Bancorp of Kentucky, Lexington, Kentucky, to acquire National Bank & Trust Company of Paris, Paris, Kentucky. * January 20, 1989 Received Notice of Change in Bank Control on December 22, 1988 from Mr. Alex Patterson, Mount Sterling, Kentucky, of his intent to acquire up to 11.10 percent of the total shares outstanding of Mount Sterling National Holding Company, Mount Sterling, Kentucky. Not Yet Known # Subject to CRA< Expected to end approximately 30 days frcm the date of receipt Newspaper Comment Period Federal Register Comment Period 4, 1989 Applications Bulletin For Week Ending December 24, 1988 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Received Section 4(c) (8) application on December 2, 1988 from New Financial Corp., Wilmington, Delaware, to acquire Del Vest, Inc., and Christina Life Insurance Company, both of Wilmington, Delaware, and both owned by Bank of Delaware Corporation, Wilmington, Delaware. January 3, 1989 Received Section 4 (c) (8) Notice on December 19, 1988 from Colonial Banc Corp., Eaton, Ohio, of its intent to engage de novo in securities brokerage activities pursuant to Section 225.25(b) (15) of Regulation Y through its wholly-owned subsidiary, Financial Services, Inc., Eaton, Ohio. Not Yet Known # SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE* OR NEWSPAPER NOTICE Received request on December 19, 1988 fran Ohio Citizens Bank, Toledo, Ohio, for permission to exceed its limit of investment in bank premises permitted under Section 24A of the Federal Reserve Act. * # N F - Subject to CRA Expected to end approximately 30 days frcm the date of receipt Newspaper Carment Period Federal Register Caiment Period Applications Bulletin For Week Ending December 24, 1988 Received request fran Ohio Citizens Bank, Toledo, Ohio, for permission to exceed its limit of investment in bank premises permitted under Section 24A of the Federal Reserve Act. Received request fran Genoa Banking Company, Genoa, Ohio, for permission to exceed its limit of investment in bank premises permitted under Section 24A of the Federal Reserve Act.* * # N F - Subject to CRA Expected to end approximately 30 days fran the date of receipt Newspaper Comment Period Federal Register Comment Period Federal Reserve Bank of Richmond 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 Crestar Financial Corporation, Richmond, Virginia, for prior approval to merge with Colonial-American Bankshares Corporation, Roanoke, Virginia.* 1-21-89 Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date CB&T Financial Corp., Fairmont, West Virginia, to engage de novo in making and servicing commercial loans and other extensions of credit and making equity investments of 5% or less through its subsidiary, CB&T Capital Investment Company, Fairmont, West Virginia. The activities would be conducted in West Virginia.* ** Matewan BancShares, Inc., Matewan, West Virginia, to engage de novo in making and servicing commercial loans and other extensions of credit and making equity investments of 5% or less through its subsidiary, Matewan Venture Fund, Inc., Matewan, West Virginia. The activities will be conducted in West Virginia. 1-13-89 Not Yet Available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None *Application is subject to CRA. **Expiration of comment period specified in the Federal Register. BANKING SUPERVISION AND REGULATION Status Report on Applications December 27, 1988 Drafts Received SHF SHF ALG ECS DMB ALG ALG SHF ECS Date Received Suburban Bankshares, Inc., Falls Church, Va. to become a BHC - Suburban Bank of Virginia, Annandale, Va. 6-17-88 Suburban Bank of Virginia, Annandale, Va., an organizing bank, for membership in the Federal Reserve System 6-17-88 The Citizens Commonwealth Bank, Clarksville, Va., an organizing bank, for membership in the Federal Reserve System 8 5-88 Peninsula Trust Bank, Incorporated, Gloucester, Va., an organizing bank, for membership in the Federal System - 9 19-88 - Citizens Bancorp, Riverdale, Md., to acquire Arlington Bank, Arlington, Va. (an related merger and membership app.1 i cations) 10 13-88 Annapolis Bancshares, Inc., Annapolis, Md., to become a BHC - Bank of Annapolis, Annapolis, Md. 10 21-88 Bank of Annapolis, Annapolis, Md., for membership in the Federal Reserve System 10 21-88 Financial Future Corporation, Ceredo, West Va., to acquire First Bancorp of Wayne, Sprague, West Va. 11 25-88 BTNC Corp., Greensboro, N. C., to become a BHC - Bankers Trust of North Carolina, Greensboro, N. C. 12 23-88 - - - - - December 26, 1988 Federal Reserve Bank of Atlanta Applications Bulletin Section I - Applications Subject to Newspaper Notice Only Application Ccnment Period Ending Date Sovran Bank/Chattanooga 02-02-89 (CRA) Chattanooga, Tennessee Newspaper To merge with First Bank of Marion County, South Pittsburg, Tennessee. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Ccnment Period Ending Date Alabama National Bancorporation 01-10-89 Shoal Creek, Alabama Newspaper To acquire Bank of Alabama, Fultondale, Alabama. First Ccrmercial Bancshares, Inc. 01-09-89 Jasper, Alabama Federal Register & Newspaper To acquire Sterling Bank, Montgomery, Alabama (in organization). Gwinnett Bancorp, Inc. 01-16-89 Duluth, Georgia Newspaper 1-BHC formation, Gwinnett National Bank, Duluth, Georgia (in organization). Parish National Corporation Bogalusa, Louisiana To acquire Central Progressive Bank of Amite, Amite, Louisiana and Parish National Bank of St. Taranany Parish, Covington, Louisiana. First American Banchshares, Inc. New Orleans, Louisiana Change in control by the Ferruzzi Family to acquire an additional 50 percent of the outstanding shares of cannon stock. Section III - Applications Subject to Federal Register Notice Only Application Ccnment Period Ending Date Sumnerville/Trion Bancshares, Inc. Summerville, Georgia To engage de novo in insurance activities, pursuant to section 225.25(b)(8)(ii) of Regulation Y. Federal Reserve Bank of Chicago Section I - Applications Subject to Newspaper Notice Only Type Application Branch Independent Bank - South Michigan Leslie, Michigan 315 Lansing Road Charlotte, Michigan* Comment Period Ending Date N - 12-27-88 Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-2 First Wisconsin Corporation Milwaukee, Wisconsin Stillwater Holding Company Stillwater, Minnesota First National Bank of Stillwater Stillwater, Minnesota Hugo Bancorporation, Inc. Stillwater, Minnesota First State Bank of Hugo Hugo, Minnesota* FR - ** N - 12-31-88 Y-2 F.W.S.B. Corporation Milwaukee, Wisconsin Stillwater Holding Company Stillwater, Minnesota First National Bank of Stillwater Stillwater, Minnesota Hugo Bancorporation, Inc. Stillwater, Minnesota First State Bank of Hugo Hugo, Minnesota* FR - ** N - 12-31-88 Y-l AFC Acquisition Corporation Detroit, Michigan Alliance Financial Corporation Dearborn, Michigan Dearborn Bank and Trust Company Dearborn, Michigan Huron Community Bank East Tawas, Michigan* FR - 12-30-88 N - 12-31-88 Comerica Incorporated Detroit, Michigan Alliance Financial Corporation Dearborn, Michigan Dearborn Bank and Trust Company Dearborn, Michigan Huron Community Bank East Tawas, Michigan* FR - 12-30-88 N - 12-31-88 Federal Reserve Bank of Chicago Section II - Applications Subject to Both Newspaper and Federal Register notice Continued Comment Period Ending Date Type Application Y-l Chandlerville Bancshares, Inc. Chandlerville, Illinois Peoples State Bank of Chandlerville Chandlerville, Illinois* FR 1-9-89 N - 12-24-88 Y-l Athens Bancorp, Inc. Athens, Illinois Athens State Bank Athens, Illinois* FR - 1-11-89 N - 12-26-88 Y-2 Foresight Financial Group, Inc. Freeport, Illinois Northwest Funding Co. Rockford, Illinois Northwest Bank of Rockford Rockford, Illinois* FR - 12-30-88 N 1-5-89 Y-2 Marshall & Ilsley Corporation Milwaukee, Wisconsin M&I Greater Waukesha Bank (in organization) Pewaukee, Wisconsin* FR - 1-9-89 N - ** Y-l Coal City Corporation Wilmette, Illinois Allied Banc Corporation Morton Grove, Illinois Allied Bank/Coal City National Coal City, Illinois* FR - ** N - ** Y-2 Antrim Financial Corporation Mancelona, Michigan First of America Bank-Grand Traverse, National Association Traverse City, Michigan* FR - ** N - 1-14-89 COC-HC Aurelia FT & S Bankshares, Inc. Aurelia, Iowa George and Ruth Pingrey FR - ** ■ - ** Y-2 First of America Bank Corporation Kalamazoo, Michigan Antrim Financial Corporation Mancelona, Michigan Antrim County State Bank Mancelona, Michigan* FR - ** N - 1-14-89 Federal Reserve Bank of Chicago Section 11 - Applications Subject to Both Newspaper and Federal Register Notice Continued Comment Period Ending Date Type Application Y-l Farmers Savings Bank, Trustee of Farmers Savings Bank Employee Stock Ownership Plan and Trust West Union, Iowa The Farmers Savings Bank West Union, Iowa* FR - ** N - ** Y-l First National Bank of Blue Island ESOT Blue Island, Illinois Great Lakes Financial Resources, Inc. Blue Island, Illinois First National Bank of Blue Island Blue Island, Illinois Community Bank of Homewood-Flossmore Homewood, Illinois* FR - 1-3-89 N - 1-2-89 Y-l Tompkins Bancorp, Inc. Avon, Illinois Tompkins State Bank Avon, Illinois* FR - ** N - 12-11-88 Y-2 First National Bankshares, Inc. Logansport, Indiana First Bank of America, Inc. Monticello, Indiana First National Bank of Indiana Monticello, Indiana* FR - ** N - ** Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Type Application Y-4 AFC Acquisition Corporation Detroit, Michigan Alliance Data Services, Inc. Dearborn, Michigan FR - 12-30-88 N - 12-31-88 Y-4 Comerica Incorporated . Detroit, Michigan Alliance Data Services, Inc. Dearborn, Michigan FR - 12-30-88 N - 12-31-88 Federal Reserve Bank of Chicago Section IV - Applications Mot Subject to Federal Register Notice Or newspaper Motice Type Application None N FR * ** - Newspaper Federal Register Subject to provisions of Community Reinvestment Act Not available at this time Federal Reserve Bank of St. Louis Federal Reserve Bank of St. Louis Application Comment Period Ending Date • SECTION I ~ APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY * Section 18(c) of the Federal Deposit Insurance Act application by Sovran Bank/ Memphis, Memphis, Tennessee (a State member bank and survivor), to merge with First National Bank of Collierville, Collierville, Tennessee, and Section 9 of the Federal Reserve Act application to establish branches (Not available) SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE None. 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 None. Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Application Lakeland Bancshares, Inc. Lyle, MN To acquire Bank of Lyle, Lyle, Minnesota* Not yet available Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Application First Bank System, Inc. Minneapolis, MN To acquire and manage classified and other low quality assets from the bank subsidiaries of its direct bank holding company subsidiary, Central Bancorporation, Inc., Denver, CO. The activity will be conducted in Colorado through FBS Credit Services, Inc. 1-9-89 Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. ♦Subject to CRA Federal Reserve Bank of Kansas City SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE A l p i n e B a n k , A s p e n , Aspen, C o l o r a d o , for p r i o r approval to b e c o m e a m e m b e r in the Federal Reserve System. Not A v a i l a b l e SECTION II ~ APPLICATIONS SOBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION COMMENT PERIOD ENDING DATE Jack R. Y o a k u m , L o c u s t Grove, O k l a h o m a , for p r i o r approval to i n c r e a s e hi s p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t of Locust G r ove B a n s h a r e s , Inc., L o c u s t Grove, O k l a h o m a , b y 41 . 5 3 p e r c e n t to 50.69 percent. No t A v a i l a b l e G e r a l d E. G u n d e r s o n , Wausa, N e b r a s k a , for p r i o r approval to increase his proportionate o w n e r s h i p i n t e r e s t of W a usa B a n s h a r e s , Inc., Wausa, Nebraska, b y 4.1 8 p e r c e n t to 14.67 percent; D o u g J o h n s o n , W a u s a , Nebraska, for pirior a p p r o v a l to a c q uire 4.79 p e r c e n t ; M a r k J. Behm, Hartington, N e b r a s k a , for p r i o r approval to a c q u i r e 2 . 7 4 p e r c e n t ; R o d n e y E. Banks, W a u s a , 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 2.19 percent; R i c h a r d L. T o l l e f s o n , Wausa, N e b r a s k a , for p r i o r approval to a c q u i r e 5.48 p e r c e n t ; LaVon J o h n s o n , W a u s a , Nebraska, for prior a p p r o v a l to a c q u i r e 5.48 percent; Gen e J o h n s o n , W ausa, Nebraska, for prior a p p r o v a l to a c q uire 5.48 p e r c e n t ; A d r i a n H. Frevert, Wausa, N e b r a s k a , for p r i o r approval to a c q u i r e 5 . 4 8 p e r c e n t ; Charles R. Ca r l s o n , W a u s a , Nebraska, for prior a p p r o v a l to a c q u i r e 4.11 percent; S w a n s o n B r o t h e r s Partnership, Wausa, N e b r a s k a , for prior approval to a c q u i r e 4.11 percent; Harold V. J o h n s o n , W a u s a , Nebraska, for prior a p p r o v a l to a c q u i r e 1.37 percent; Not A v a i l a b l e Federal Reserve Bank of Kansas City M a r i a n C a r l s o n , Wausa, Ne b r a s k a , for p r i o r a p p r o v a l to a c q u i r e 1.37 p e r c e n t ; D w a i n Kumm, Wausa, N e b r a s k a , for p r i o r appro v a l to a c q u i r e 1 . 3 7 perce n t ; R o b e r t H. and R a n d a l M e yer, R a n d o l p h , N e b raska, f o r p r i o r a p p r o v a l to a c q u i r e 5.48 p e r c e n t ; E l w i n F. Banks, Wausa, N e b r a s k a , for prior a p p r o v a l to i n c r e a s e hi s p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t b y 2.88 p e r c e n t t o 9.67 p e r c e n t ; L o w e l l Koehn, O s m o n d , N e b r a s k a , for p r ior a p p r o v a l to a c q u i r e 2.74 percent; L o w e l l C. E rickson, Wausa, N e b r a s k a , for p r i o r appro v a l to a c q u i r e 1.37 perce n t ; and R u s s e l l J o h n s o n , W a usa, Nebraska, for prior a p p r o v a l to a c q u i r e 1.37 percent. C h a m b a n c o , Inc., Chambers, 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 56.2 p e r c e n t of the v o t i n g s h a r e s of E w i n g Agency, Inc., E w i n g , N e bra s k a , p a r e n t of F a r m e r s S t a t e Bank, Ewing, N e b r a s k a . * January 1, 1989 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION C O M M E N T P E R I O D E N D I N G DATE F i r s t N a t i o n a l B a n c s h a r e s of W i n f i e l d , Inc., Winfield, Kansas, for p r i o r 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 v o t i n g shares of O x f o r d I n s u r a n c e Agency, Inc., O x f o r d , Kansas, 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 i n s u r a n c e agency activities. December 30, 1988 SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION W a u s a B a n s h a r e s , Inc., Wausa, N e b r a s k a , for prior appro v a l to r e d e e m 1 0 , 1 0 0 s h ares of its own v o t i n g c o m m o n stock. ♦Application is subject to CRA. FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF DECEMBER 19, 1988 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 *Section 3(a)(1) application by Miami Bancshares, Inc., Miami, TX to acquire First State Bank of Miami, Miami, TX 89/01/12 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION NOTICE EXP Section 4(c)(8) application by Waskom Bancshares, Inc., Waskom, TX to engage de novo in the activity of providing accident health and life insurance that is directly related to the extension of credit by an institution within the Bank Holding Company organization. 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 12/23/88 Section I - Applications Sub.iect to Newspaper Notice Only Application Comment Period Ending Date Continental Bank & Trust Company, Salt Lake City, Utah, purchase and assumption of certain banking assets of Tracy Collins Bank & Trust, Salt Lake City, Utah. * Newspaper: 12/23/88 Section H - Application? sub l et to Both Newspaper and Federal Register Notice Napa Valley Bancorp, Napa, California, to acquire 100 percent of Sulsun Valley Bank, Fairfield, California. * Newspaper: Not available Fed. Rea.: 1/20/89 Siegel & Feldstein Voting Trust, Los Angeles, California, to increase voting shares from 20 percent to 35 percent of Griffin Holdings, Inc., Los Angeles, California. Newspaper.! 1/05/89 Fed. Rea.: 11/28/88 George Borba, Chino, California, to increase his ownership from 17.71 percent to 24.9 percent of the issued and outstanding shares of CVB Financial Corp., Chino, California. Newspaper;. 12/29/88 Fed, Reg,; 1/09/89 William N. Becker, et. al. to acquire an additional 1.75 percent of The Stockmen's Bancorp, Kingman, Arizona, resulting in an increase from 12.49 percent to 14.23 percent. Newspaper: Not available Fed, Reg,; 1/12/89 Antonio Grinalda, Cottonwood, Arizona, to retain existing ownership of 22.4 percent of the outstanding shares of Verde Valley Bancorp, Cottonwood, Arizona. Newspaper: Not available Arlen H. Andelson, Beverly Hills, California, and Arlen H. Andelson Family Trust, Nest Hollywood, California, to increase their combined ownership interests from 13.28 percent to 16.28 percent of BKLA Bancorp, Nest Hollywood, California. Newspaper: Not available Fed. Rea.: 1/13/89 Not available Section III - Applications Subject to Federal Register Notice Only Security Pacific Corporation, Los Angeles, California, to acquire Burns Fry Hoare Govett, Inc., New York, New York, and engage 1n brokerage, advisor and private placement activities. Fed. Rea.: Not yet published Section IV - Applications Not Subject to Federal Register Notice or Newspaper.Notice None * Subject to CRA.
@FedFRASER