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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1977 No. 53)
Actions of the Board; Applications and Reports
Received During the Week Ending December 31, 1977
ACTIONS OF THE BOARD
Regulation D amendment, to exempt from the definition of
the term deposit a member bank* s borrowings from a
member bank whose head office is located outside the
United States, effective immediately.
First National Holding Corporation, Atlanta, Georgia, extension of time to March 28, 1978, within which to
acquire the remaining shares of The First National Bank
of Dalton, Dalton, Georgia. V
Jefferson Bankshares of Colorado, Inc., Denver, Colorado,
extension of time to January 16, 1978, within which it
may commence personal property leasing activities at an
office in Denver, Colorado. 1/
Community State Agency, Inc., Bloomington, Minnesota, extension of time to July 21, 1978, within which to divest
of its general insurance business. V
Metropolitan Bank and Trust Company, Philippine Securities
Corporation and Tytana Corporation, all of Makati,
Rizal, Philippines, extension of time to March 22, 1978,
to acquire shares of International Bank of California,
Los Angeles, California. 1/
Midland Mortgage Corporation, Detroit, Michigan, extension
of time to March 24, 1978, within which to establish a
de novo subsidiary, and engage in activities at 350
First National Building, through its subsidiary, Midland
Mortgage Service Corporation, Detroit, Michigan. 1/
Platte Valley Bancorporation, Saratoga, Wyoming, extension
of time to December 31, 1977, within which to consummate
the acquisition of shares of Saratoga Bankshares, Inc.,
Saratoga, Wyoming, and to engage in credit-related
activities. 1/
1/
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 53
- 2 ACTIONS OF THE BOARD-Continued
Termination of registration under Regulation G for
Southern California Central Credit Union and for Frank
A. Klaus, both of Los Angeles, California. 1J
Citizens Bank of Pacific, Pacific, Missouri, to make an
investment in bank premises. 1J
Issuance of subordinated capital notes by Peoples State
Bank of Plainview, Plainview, Minnesota. IJ
Issuance of subordinated capital notes by Hillsboro Bank
and Savings Company, Hillsboro, Ohio. 1/
Citizens Bank and Trust Company, Campbellsville, Kentucky,
to make an investment in bank premises. 1/
If
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 53
3
ACTIONS OF THE BOARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
The Merril Trust Company, Bangor, Maine. Branch to be
established at the Bangor Mall, Hogan Road, Bangor. 2/
United Virginia Bank, Richmond, Virginia. Branch to be
established as a drive-in facility at 109 North Second
Street, Hopewell. 2/
* * * * *
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
Allied Bank International, New York, New York: to continue to hold shares of Allied Bank and Trust Company
(Bahamas) Limited, Nassau, Bahamas, after Allied Bank
and Trust Company (Bahamas) Limited issues to Allied
Bank International subordinated debt obligations with
maturities in excess of one year.
* A * * A
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Approved
Community Banks, Inc., Middleton, Wisconsin, for approval
to acquire 80 per cent or more of the voting shares of
Bank of Middleton, Middleton, Wisconsin and The Bank of
Shorewood Hills, Madison, Wisconsin, a proposed new
bank. 2/
WINGO, LTD., Brooklyn, Iowa, for approval to acquire 80
per cent or more of the voting shares of Poweshiek
County Savings Bank, Brooklyn, Iowa. 2/
2/
Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
H.2, 1977 No. 53
ACTIONS OF THE BOARD-Continued
WISCUB, Inc., Milwaukee, Wisconsin, for approval to acquire
36 per cent or more of the voting shares of Cleveland
State Bank, Cleveland, Wisconsin.
Junction City First National Company, Junction City, Kansas,
for approval to acquire 94 per cent or more of the
voting shares of The First National Bank of Junction
City, Kansas, Junction City, Kansas.
West Texas Bancshares, Inc., Muleshoe, Texas, for approval
to acquire at least 81 per cent of the voting shares of
Muleshoe State Bank, Muleshoe, Texas. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Approved
United Banks of Colorado, Inc., Denver, Colorado, for approval to acquire 80 per cent or more of the voting
shares of United Bank of Arvada, N.A., Arvada, Colorado,
a proposed new bank.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Permitted
Chemical New York Corporation, New York, New York, notification of intent to engage in de_ novo activities (leasing real and personal property and equipment on a nonoperating, full payout basis and acting as agent, broker,
and adviser with respect to such leases; financing real
and personal property and equipment such as would be
done by a commercial finance company; and servicing such
extensions of credit) at 707 East Main Street, Richmond,
Virginia, through its subsidiary, Chemlease, Inc.
(12/31/77) 3/
17
3/
Application processed by the Reserve Bank cn behalf of the Board of
Governors under delegated authority.
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
5 ACTIONS OF THE BOARD-Continued
Chemical New York Corporation, New York, New York, notification of intent to relocate _de novo activities (making of direct loans and purchasing sales finance contracts representing extensions of credit such as would
be made or acquired by a finance company; acting as
agent for the sale of credit life insurance and credit
accident and health insurance issued in connection with
extensions of credit and making available to its borrowers, credit related property and casualty insurance)
from 610 Milan Street, Shreveport, Louisiana to 5803
Youree Drive, Suite A, Southfield Plaza Shopping Center,
Shreveport, Louisiana, through its subsidiary, Sunamerica Corporation (12/29/77) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making of consumer installment personal loans, making of loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other
than personal, family or household usage; and the sale
of credit related life/accident and health insurance
related to such loans; if these proposals are effected,
a licensed agent will offer to sell credit related
life/accident and health, or decreasing or level (in the
case of single payment loans) term life insurance to
cover the outstanding balances of credit transactions
(singly or jointly with co-signers in the case of life
coverage) in the event of death, or, to make the contractual monthly payments on credit transactions in the
event of the obligators's disability to the extent
permissible under applicable State insurance laws and
regulations; credit related decreasing term life insurance and accident and health insurance may be reinsured by Gateway Life Insurance Company, an affiliate
of Nationwide Financial Corporation; further, in regard
to the sale of credit related insurance, the subsidiary
does not act as a general insurance agency) at 5313 50th
Street, Building B, Suite 5, Lubbock, Texas and 1456
Ellis Avenue, Suite 107, Jackson, Mississippi, through
its subsidiary, Nationwide Financial Corporation
(12/25/77) 3/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1 9 7 7 N o . 53
- 6 ACTIONS OF THE BOARD-Continued
Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in d £ novo activities
(acting as insurance agent or broker for the sale of
credit life and credit accident and health insurance
related to loans and other extensions of credit such as
would be made by a mortgage company which are made,
acquired or serviced by Citizens Mortgage Corporation,
for its own account or for the account of others) at
24700 Northwestern Highway, Southfield, Michigan,
through an indirect subsidiary, CMC Insurance Agency,
Inc. (12/25/77) 3/
Mellon National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(making or acquiring, for its own account secured and
unsecured loans and other extensions of credit such as
would be made by a finance company which activities
include making direct consumer installment sales finance
contracts; and providing credit life and credit accident
and health insurance which insurance will be provided
only in conjunction with extensions of credit and which
will be available solely at the option of the borrower
if advised of this option in advance) at 826 S.E. Oak
Street, Hillsboro, Oregon, through its wholly-owned
subsidiary, Local Loan Co., Chicago, Illinois (12/30/77)
3/
The Wachovia Corporation, Winston-Salem, North Carolina,
notification of intent to engage in cle novo activities
(rendering data processing services related to banking,
financial or related economic data and specifically in
the following product areas: data processing services
to banks including deposit, loan and accounting services;
data processing services to corporate customers of banks
including accounting services such as payroll, general
ledger, accounts receivable, and accounts payable accounting; and data processing services to financial
institutions, colleges and universities in the accounting and servicing of student loans; and providing computer output microfilm services for data being processed
in connection with the above services) at 4937 Suitland
Road, Suitland, Maryland, through a remote job entry
center for its subsidiary, Wachovia Services, Inc.
(12/31/77) 3/
3/
4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
11. 2, 1977 No. 53
^
- 7 -
ACTIONS OF THE BOARD-Continued
Milwaukee Western Corporation, West Palm Beach, Florida,
notification of intent to continue to engage in de novo
activities (acting as an insurance agent or broker for
the sale of property and casualty insurance in connection with the extension of credit to its customers)
at 2703 Linwood Avenue, Shreveport, Louisiana, through
its subsidiary, Bayou Acceptance Corporation (12/29/77)
3/
Del State, Inc., Del City, Oklahoma, notification of
intent to engage in de_ novo activities (acting as a
mortgage broker of permanent first mortgage loans on
residential, apartment, commercial, and industrial
properties for institutional investors; Triad Mortgage
Company's activities will be limited to assembling
information, completing application forms, and obtaining
consents for credit investigation) on the premises of
the holding company's subsidiary bank, Del State Bank,
3000 Tower Drive, Del City, Oklahoma, through a subsidiary, Triad Mortgage Company, Inc. (12/29/77) 3/
Midland Capital Co., Oklahoma City, Oklahoma, notification
of intent to engage in de novo activities (mortgage
banking, including originating and servicing of all
types of residential and commercial mortgage loans) at
248 E. Highland Avenue, San Bernardino, California,
through a subsidiary, Midland Mortgage Company (12/29/77)
3/
Approved
WINGO, LTD., Brooklyn, Iowa, for approval to acquire
100 per cent of Wold Insurance Agency, Brooklyn, Iowa.
2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Permitted
Gamble-Skogmo, Inc., Minneapolis, Minnesota, notification
of intent to acquire through direct subsidiary all of
the issued and outstanding capital stock of Lumac Leasing Inc. (12/26/77) V
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
- 8 ACTIONS OF THE BOARD-Continued
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
Tracy Bancorp, Salt Lake City, Utah ("Tracy"), (1)
prior certification pursuant to section 1101(a)(1) of
the Internal Revenue Code ("Code") that its divestiture
on December 31, 1976, of 500 shares of Tracy Realty
Company, through the pro rata distribution of such
shares to the holders of the common stock of Tracy, was
necessary or appropriate to effectuate section 4 of the
Bank Holding Company Act ("BHC Act"); and (2) final
certification pursuant to section 1101(e)(1) of the Code
that it has (before the expiration of the period prohibited property is permitted under the BHC Act to be
held by a bank holding company) disposed of all of the
property the disposition of which is necessary or appropriate to effectuate section 4 of the BHC Act.
(Legal Division Docket TCR 76-127) *J
*/
Processed on behalf of the Board of Governors under delegated authority.
- 9
H.2, 1977 No. 53
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Citizens Bank & Trust Company, Campbellsville, Kentucky.
Branches to be established at the following locations:
A.
1307 East Broadway, Campbellsville, Taylor County.
B.
Main Street, Mannsville, Taylor County.
The Fidelity Bank, Rosemont, Pennsylvania. Branch to be
established at Valley Forge Executive Mall, 1st floor,
Building //7, Swedesford Road and Old Eagle School Road,
Valley Forge, Tredyfrin Township, Chester County.
* * * * *
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
The Chase Manhattan Bank, N.A., New York, New York: to
establish an additional branch in Hato Rey, Puerto Rico.
Republic National Bank of New York, New York, New York:
to establish an initial "shell branch" in George Town,
Grand Cayman, Cayman Islands.
A * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Farmers and Merchants Corporation, Forest, Mississippi,
for approval to acquire 80 per cent or more of the
voting shares of Farmers and Merchants Bank, Forest,
Mississippi.
SBT Corporation, Savannah, Georgia, for approval to
acquire 100 per cent of the voting shares of the
successor by merger to Savannah Bank & Trust Company of
Savannah, Savannah, Georgia.
H.2, 1977 No. 5'
APPLICATIONS RECEIVED-Continued
Meadows Bankcorp, Inc., Rolling Meadows, Illinois, for
approval to acquire 80 per cent or more of the voting
shares of Suburban Bank of Rolling Meadows, Rolling
Meadows, Illinois.
The Vikings Corporation, Denison, Iowa, for approval to
acquire 80 per cent or more of the voting shares of
Crawford County Trust and Savings Bank, Denison, Iowa.
Sebeka Bancshares, Inc., Sebeka, Minnesota, for approval
to acquire 91.7 per cent of the voting shares of Security
State Bank of Sebeka, Sebeka, Minnesota.
Browning Bancshares, Inc., Browning, Missouri, for approval to acquire 94.8 per cent of the voting shares of
Citizens Savings Bank of Browning, Browning, Missouri.
Coffeyville Financial Corporation, Coffeyville, Kansas,
for approval to acquire 85.8 per cent or more of the
voting shares of The Condon National Bank of Coffeyville,
Coffeyville, Kansas.
FIRST STATE BANCORP, INC., Oklahoma City, Oklahoma, for
approval to acquire 40.06 per cent or more of the voting
shares of Admiral State Bank, Tulsa, Oklahoma.
& * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in de_ novo activities
(credit life, credit accident and health insurance directly related to extensions of credit by direct and
indirect subsidiaries, including Industrial National
Bank of Rhode Island, Industrial National Mortgage
Company, Inleasing Corporation and Industrial Capital
Corporation; any other insurance that is directly related to extensions of credit by those subsidiaries; any
insurance for Industrial National Bank of Rhode Island)
at 55 Kennedy Plaza, Providence, Rhode Island, through a
direct; subsidiary, Incorp Agency, Inc., Providence,
Rhode Island and at all branch locations of Industrial
National Bank of Rhode Island and the headquarters
orfices of Industrial National Mortgage Company, Inleasing Corporation, and Industrial Capital Corporation
02/10/77) 3/
2.'
^(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of :1 . Board of Governors under delegated authority.
H.2, 1977 No. 53
11
APPLICATIONS RECEIVED-Continued
Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in de_ novo activities
(origination and sale of residential mortgages; servicing of residential mortgage loans; insurance agency
for the sale of credit life and credit accident and
health insurance directly related to an extension of
credit) at Suite No. 380, 24300 Southfield Road, Southfield, Michigan, through its indirect subsidiary, Mortgage Associates, Inc., Milwaukee, Wisconsin (a Rhode
Island Corporation) which is a wholly-owned subsidiary
of its direct subsidiary, MAI Financial Corporation,
Milwaukee, Wisconsin (a Wisconsin Corporation) (12/28/77)
3/
Citicorp, New York, New York, notification of intent to
engage in cle novo activities (making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other
than personal, family or household usage; sale of credit
related life/accident and health, or decreasing or level
(in the case of single payment loans) term life insurance to cover the outstanding balances of credit transactions (singly or jointly with co-signers in the case
of life coverage) in the event of death, or, to make
contractual monthly payments on the credit transactions
in the event of the obligator 's disability by licensed
agents or brokers to the extent permissible under applicable State insurance laws and regulations; the sale of
credit related property and casualty insurance protecting personal and real property subject to a security
agreement with Nationwide Financial Corporation of California and Citicorp Person-to-Person Financial Center,
Inc. and to include liability coverage in home, automobile or commercial "package" policies where such is the
general practice by licensed agents or brokers to the
extent permissible under applicable State insurance laws
and regulations; credit related decreasing term life
insurance and accident and health insurance may be
reinsured by Gateway Life Insurance Company, an affiliate
of Nationwide Financial Corporation of California and
Citicorp Person-to-Person Financial Center, Inc.;
further, in regard to the sale of credit related insurance, the subsidiary does not act as a general insurance agency) at 14260 Beach Boulevard, Westminster,
California, 1022 N. Tustin Avenue, Orange, California
and 1150 N. 25th Street, Grand Junction, Colorado, through
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of ihe hoard of Governors under delegated author 11v.
H.2, 1977 No. 53
- 1 2 -
APPLICATIONS RECEIVED-Continncd
its subsidiaries, Nationwide Financial Services Corporation presently operating as Nationwide Financial Corporation of California for the two offices in California
and Nationwide Financial Services Corporation presently
operating as Citicorp Person-to-Person Financial Center,
Inc. for the office in Colorado (12/27/77) 3/
Citicorp, New York, New York, notification of intent to
engage in djz novo activities (making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other
than personal, family or household usage; sale of credit
related life/accident and health, or decreasing or level
(in the case of single payment loans) term life insurance to cover the outstanding balances on credit transactions (singly or jointly with co-signers in the case
of life coverage) in the event of death, or, to make
contractual monthly payments on the credit transactions
in the event of the obligator's disability by licensed
agents or brokers to the extent permissible under applicable State insurance laws and regulations; the sale of
credit related property and casualty insurance protecting personal and real property subiect to a security
agreement with Nationwide Acceptance Corporation of
Washington, Inc., Nationwide Financial Corporation of
California and Citicorp Person-to-Person Financial
Center, Inc. and to include liability coverage in home,
automobile or commercial "package" policies where such
is the general practice by licensed agents or brokers to
the extent permissible under applicable. State insurance
laws and regulations; credit related decreasing term
life insurance and accident and health insurance may be
reinsured by Gateway Life Insuance Company, an affiliate
of Nationwide Acceptance Corporation of Washington,
Inc., Nationwide Financial Corporation of California and
Citicorp Person-to-Person Financial Center, Inc.; further,
in regard to the sale of credit related insurance, the
subsidiary does not act as a general insurance agency)
at 515 116th Street, N.E., Bellevue, Washington; 11012
Downey Avenue, Downey, California; 1806 Willow Pass
Road, Concord, California; Chula Vista Square, 542
Broadway, Suite M, Chula Vista, California; Mission
Valley South Office Building, 1279 Camino Del Rio South,
San Diego, California; University Towne Center, 4525 La
Jolla Village Drive, San Diego, California; 450 Fletcher
2/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
-13APPLICATIONS RECEIVED-Continued
Parkway, Suite 206, El Cajon, California; College Grove
South, 299 A, The Mall, San Diego, California; 315 South
Circle Drive, Colorado Springs, Colorado; Academy Fair
Shopping Center, 4127 N. Academy, Colorado Springs,
Colorado; Garden Valley Center, Janitell Two Building,
Suite 2136, 2860 South Circle Drive, Colorado Springs,
Colorado; and 380 Main Street, Security, Colorado,
through its subsidiaries, Nationwide Financial Services
Corporation presently operating as Nationwide Acceptance
Corporation of Washington, Inc. for the office located
in Washington, Nationwide Financial Services Corporation
presently operating as Nationwide Financial Corporation
of California for the offices located in Downey and
Concord, California and Nationwide Financial Services
Corporation presently operating as Citicorp Person-toPerson Financial Center, Inc. for the five other offices
located in California and 4 offices located in Colorado
(12/30/77) 3/
Fidelity Union Bancorporation, Newark, New Jersey, notification of intent to engage in de novo activities (the
business of making available fire, casualty and theft
insurance to protect household goods held as collateral
during the periods of credit extensions) at Valmont
Shopping Center, West Razelton; 616 Baltimore Pike,
Springfield; 1505 Market Street, Camp Hill; and 334 West
Street Road, Feasterville, all located in Pennsylvania,
through its subsidiary, Suburban Finance Company known
as Sentry Consumer Discount Company (12/30/77) 3/
Fidelity Union Bancorporation, Newark, New Jersey, notification of intent to engage in de_ novo activities (the
business of making loans in the present maximum amount
of $5,000.00 or less under the provisions of the Pennsylvania Consumer Discount Company Act; and making
available to customers, credit life insurance and disability insurance covering the unpaid balance of loans
outstanding, and fire, casualty and theft insurance to
protect household goods held as collateral during the
periods of credit extensions) at 5528 New Falls Road,
Bristol Township, Pennsylvania, through its subsidiary,
Suburban Finance Company known as Sentry Consumer Discount Company (12/30/77) 3/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
- 14 APPLICATIONS KECEIVEP-Contlnued
Farmers and Merchants Corporation, Forest, Mississippi,
for approval to engage de novo in the sale of credit
life insurance and credit accident and health insurance
related to extensions of credit made by Farmers and
Merchants Bank, Forest, Mississippi.
National Detroit Corporation, Detroit, Michigan, notification of intent to engage in de_ novo activities (making
or acquiring, for its own account or for the account of
others, loans and other extensions of credit to any
persons; and all activities incidental thereto including, but not limited to, acting as an insurance agent or
broker to the extent permitted by the applicable regulations of the Board of Governors of the Federal Reserve
System) at 853 J. Clyde Morris Boulevard, Newport News,
Virginia, through its subsidiary, Instaloan Financial
Services, Inc. (12/27/77) V
Walter E. Heller International Corporation, Chicago,
Illinois, notification of intent to engage in de novo
activities (the business of commercial finance) at 24650
Center Ridge Road, Westlake, Ohio, through its subsidiary, National Acceptance Company of America (12/23/77)
V
Santa Ana Bancorp., Inc., St. Ann, Missouri, notification
of intent to engage in dje novo activities (acting as
agent or broker in the sale of credit life insurance,
credit accident and health insurance and property damage
and casualty insurance directly related to credit extensions made or acquired by subsidiaries) at 10449 St.
Charles Rock Road, St. Ann, Missouri (12/27/77) 3/
Bankshares of Nebraska, Inc., Grand Island, Nebraska, to
form a joint venture with Hastings State Company,
Hastings, Nebraska, for permission to engage in industrial banking activities and credit-related insurance
activities, through a subsidiary, First Savings Company
of Hastings, Hastings, Nebraska.
Hastings State Company, Hastings, Nebraska, to form a
joint venture with Bankshares of Nebraska, Inc., Grand
Island, Nebraska, for permission to engage in industrial
banking activities and credit-related insurance activities, through a subsidiary, First Savings Company of
Hastings, Hastings, Nebraska.
3/
4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
-15APPLICATIONS RECEIVED-Cont inued
York State Company, York, Nebraska, notification of intent
to engage in de novo activities (operating an industrial
loan and investment company pursuant to the laws of the
State of Nebraska including the issuance of paid-up
certificates of indebtedness, installment certificates
of indebtedness and making single payment demand loans,
consumer loans, commercial loans and first and second
mortgage loans on real estate; acting as insurance agent
for the sale of single and joint decreasing term credit
life insurance and credit accident and health insurance,
and level term credit life insurance on single payment
demand notes; all such insurance coverages will be sold
in connection with First York Savings Company ! s extensions of credit) at 123 6th Street, York, Nebraska,
through a subsidiary, First York Savings Company (12/28/77)
3/
BankAmerica Corporation, Sart Francisco, California, notification of intent to relocate de_ novo activities
(making or acquiring, for its own account loans and
other extensions of credit such as would be made or
acquired by a finance company; such activities will
include, but not be limited to, making consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to
small businesses, and making loans secured by real and
personal property; and the offering of credit related
life, credit related accident and disability insurance,
and credit related property insurance in connection with
extensions of credit made or acquired by FinanceAmerica
Corporation (an Illinois Corporation)) from 9189 West
Florissant Avenue, Jennings, Missouri to 401 Henry
Street, Alton, Illinois, through its subsidiary, FinanceAmerica Corporation (an Illinois Corporation)
(12/21/77) 3/
* * * * *
For Certifications Pursuant to the Bank Holding Company
Tax Act of 1976
Ellingson Corporation, Kenyon, Minnesota, to divest shares
of Security State Bank of Kenyon, Kenyon, Minnesota.
(Legal Division Docket TCR 76-156)
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 53
16 APPLICATIONS RECEIVED-Continued
Union Investment Company, Inc., Colquitt, Georgia, to
divest shares of Citizens Bank, Colquitt, Georgia.
(Legal Division Docket TCR 76-157)
Kyanite Mining Corporation, Dillwyn, Virginia, to divest
shares of Bank of Phenix, Virginia.
(Legal Division
Docket TCR 76-158)
* * * * *
REPORTS RECEIVED
Current Report Filed Pursuant to Section 13 of the
Securities Exchange Act
Savannah Bank and Trust Company, Savannah, Georgia.
* * * * *
PETITIONS FOR RULEMAKING
None.
@FedFRASER