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e # ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ( H . 2 , 1980 No. 4 9 ) A c t i o n s of t h e Board; A p p l i c a t i o n s and R e p o r t s R e c e i v e d During t h e Week Ending December 6 , APPLICABLE RESERVE BANK 1980 ACTIONS OF THE BOARD R e g u l a t i o n C, mortgage l o a n d a t a , amendment r e q u i r i n g t h a t i n s t i t u t i o n s change from a f i s c a l t o a c a l e n d e r y e a r b a s i s f o r r e p o r t i n g o f 1980 d a t a under t h e Home M o r t g a g e D i s c l o s u r e Act. ( D o c k e t No. R - 0 3 3 3 ) R e g u l a t i o n K amendments, d e a l i n g w i t h t h e nonbanking a c t i v i t i e s o f f o r e i g n bank h o l d i n g companies and f o r e i g n banks t h a t h a v e banking o f f i c e s i n t h e U n i t e d S t a t e s . (Docker No. R - 0 2 9 1 ) P o l i c y s t a t e m e n t R e g a r d i n g N o t i c e of A p p l i c a t i o n s ; T i m e l i nes s o f Comments; and I n f o r m a l H e a r i n g s . (Docket No. R - 0 3 3 4 ) Atlant a C e n t r a l Bancorp, I r . c . , Miami, F l o r i d a , e x t e n s i o n of time u March 7, 1981, w i t h i n which to a c q u i r e s h a r e s o f F i r s t C e n t r a l Bank, Del r a y , F l o r i d a . \J Minneapolis Exchange S t a t e B a n c o r p o r a t i o n , I n c . , H i l l s , M i n n e s o t a , e x t e n s i o n of time w i t h i n which to consummate the a c q u i s i t i o n o f Exchange S t a t e Bank of H i l l s , H i l l s , M i n n e s o t a . _!/ Atlanta F l a g s h i p B a n k s , I n c . , Miami, F l o r i d a , e x t e n s i o n of time w i t h i n vriiich to a c q u i r e a d d i t i o n a l s h a r e s o f F i r s t N a t i o n a l Bank o f S e b r i n g , S e b r i n g , F l o r i d a . _1/ At l a n t a F l o r i d a Park B a n k s . I n c . , S t . P e t e r s b u r g , F l o r i d a , e x t e n s i o n of time w i t h i n which to become a bank h o l d i n g company t h r o u g h a c q u i s i t i o n of Park Bank o f F l o r i d a , S t . P e t e r s b u r g , F l o r i d a . _1/ Dallas Guaradian B a n c s h a r e s , I n c . , H o u s t o n , T e x a s , e x t e n s i o n of time t o January 3 , 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of Guardian Bank o f H o u s t o n , H o u s t o n , T e x a s . _!/ If A p p l i c a t i o n p r o c e s s e d on b e h a l f o f authority. the Board of Governors under d e l e g a t e d 1 H.2, 1980 No. 49 ACTIONS OF THE BOARD-Continued Dallas Independent Bankshares, I n c . , A b i l e n e , T e x a s , e x t e n s i o n of time t o March 6 , 1981, w i t h i n vriiich to consummate the a c q u i s i t i o n of The F i r s t S t a t e Bank, A b i l e n e , T e x a s . _1/ Dal l a s Laredo N a t i o n a l B a n c s h a r e s , I n c . , Laredo, T e x a s , e x t e n s i o n of time to January 13, 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of The Laredo N a t i o n a l Bank, Laredo, T e x a s . 1/ New York Manufacturers Hanover I n t e r n a t i o n a l Banking C o r p o r a t i o n , New York, New York, amend t h e A r t i c l e s o f A s s o c i a t i o n t o p r o v i d e t h a t the maximum number of members of the board of d i r e c t o r s be i n c r e a s e d from f i f t e e n to t w e n t y . _1/ New York Manufacturers I n t e r n a t i o n a l Finance C o r p o r a t i o n , New York, New York, e x t e n d the c o r p o r a t e e x i s t e n c e for an a d d i t i o n a l p e r i o d of 20 y e a r s . \f Chicago N o r t h w e s t e r n Bank C o r p o r a t i o n , Jordan, M i c h i g a n , e x t e n s i o n of time to February 7, 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n o f 100 percent of the v o t i n g s h a r e s of the s u c c e s s o r by merger to N o r t h w e s t e r n S t a t e Bank, East Jordan, Michigan. If Chicago OLD CANAL BANKSHARES, I I , L o c k p o r t , I l l i n o i s , e x t e n s i o n of time t o January 15, 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 p e r c e n t of t h e v o t i n g s h a r e s of OLD CANAL BANKSHARES, INC. , L o c k p o r t , I l l i n o i s and t h e r e b y i n d i r e c t l y a c q u i r i n g 8 0 . 0 4 p e r c e n t of t h e v o t i n g s h a r e s of H e r i t a g e F i r s t N a t i o n a l Bank of Lockp o r t , L o c k p o r t , I l l i n o i s . If Dal l a s S c h r e i n e r , I n c . , K e r r v i l l e , T e x a s , e x t e n s i o n of time t o February 24, 1981, w i t h i n which to consummate the a c q u i s i t i o n o f Chas. S c h r e i n e r Bank, K e r r v i l l e , T e x a s . If Dallas Texas Commerce B a n c s h a r e s , I n c . , H o u s t o n , T e x a s , e x t e n s i o n of time t o March 2 4 , 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of Texas Commerce Bank - Northwest Freeway, N a t i o n a l A s s o c i a t i o n , Houston, T e x a s , a proposed new bank. V Dallas West S i d e B a n c s h a r e s , I n c . , San A n g e l o , T e x a s , e x t e n s i o n of t i m e w i t h i n v*tich to consummate t h e a c q u i s i t i o n o f West S i d e N a t i o n a l Bank o f San A n g e l o , San A n g e l o , T e x a s . 1/ 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of authority. the Board of Governors under d e l e g a t e d H . 2 , 1980 No. 49 - 3 ACTIONS OF THE BOARD-Continued San Frartci sco W i l s h i r e B a n c o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , e x t e n s i o n of time t o February 2 1 , 1981, w i t h i n vrtiich to a c q u i r e t h e W i l s h i r e Bank, N . A . , Los A n g e l e s , C a l i f o r n i a , a proposed new bank. 1/ Chicago WORTH BANCORP., INC., Chicago, I l l i n o i s , e x t e n s i o n of time t o March 12, 1981, w i t h i n vrtiich to become a bank h o l d i n g company through the a c q u i s i t i o n of 80 p e r c e n t or more of t h e v o t i n g s h a r e s o f Worth Bank and T r u s t , Worth, I l l i n o i s , and t o engage in i n s u r a n c e a c t i v i t i e s through a de novo s u b s i d i a r y , Worbank Insurance Agency, I n c . JL/ San Francisco D e r e g i s t r a t i o n under R e g u l a t i o n G approved f o r S a c t e l Federal C r e d i t U n i o n , Sacramento, C a l i f o r n i a . JL/ New York Columbus Trust Company, Newburgh, New York, e x t e n s i o n of time t o May 15, 1981, w i t h i n which to e s t a b l i s h a branch o f f i c e a t the c o r n e r of Highland T e r r a c e and Route 9W, M i d d l e h o p e , Town o f Newburgh, New York. 1/ San Francisco Farmers and Merchant s Bank o f C e n t r a l C a l i f o r n i a , L o d i , C a l i f o r n i a , e x t e n s i o n of time t o December 27, 1981, w i t h i n which to e s t a b l i s h a branch o f f i c e in the v i c i n i t y o f Kettleman Lane and Hut c h i n s S t r e e t , L o d i , C a l i f o r n i a . _1/ San Francisco United C a l i f o r n i a Bank, Los A n g e l e s , C a l i f o r n i a , e x t e n s i o n s of t i m e w i t h i n t b i c h to e s t a b l i s h b r a n c h e s : ( 1 ) t o June 2 2 , 1981, a branch in the v i c i n i t y o f La J o l l a V i l l a g e Drive and Genesee Avenue, San D i e g o ; ( 2 ) to December 18, 1981, a branch in the v i c i n i t y o f the i n t e r s e c t i o n of A l i s o Creek and La Paz Roads, Laguna N i g u e l ; ( 3 ) to June 18, 1 9 8 1 , a branch in the v i c i n i t y o f the San Diego Freeway and Avery Parkway, M i s s i o n V i e j o ; and ( 4 ) t o June 19, 1981, a branch i n the v i c i n i t y o f Palomar Airport Road and El Camino R e a l , C a r l s b a d , C a l i f o r n i a . JL/ Dal l a s A b i l e n e N a t i o n a l Bank, A b i l e n e , T e x a s , proposed merger w i t h A l l i e d A b i l e n e N a t i o n a l Bank, A b i l e n e , T e x a s ; r e p o r t to t h e C o m p t r o l l e r of the Currency on c o m p e t i t i v e f a c t o r s . IJ Atlanta B a r n e t t Bank o f C o l u s i a County, Deland, F l o r i d a , proposed merger w i t h B a r n e t t Bank o f F l a g l e r County, F l a g l e r Beach, F l o r i d a ; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . \J 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d authority. I H.2, - 4 - 1980 No. 49 ACTIONS OF THE BOARD-Continued Dal l a s Central N a t i o n a l Bank o f McKinney, McKinney, T e x a s , p r o posed merger w i t h McKinney N a t i o n a l Bank, McKinney, Texas; r e p o r t to the C o m p t r o l l e r of the Currency on c o m p e t i t i v e f a c t o r s . JV Chicago C i t i z e n s N a t i o n a l Bank o f Waukegan, Waukegan, I l l i n o i s , proposed merger w i t h Republic N a t i o n a l Bank o f Waukegan, Waukegan, I l l i n o i s , under the c h a r t e r and t i t l e of The C i t i z e n s N a t i o n a l Bank o f Waukegan, Waukegan, I l l i n o i s ; r e p o r t to the C o m p t r o l l e r of the Currency o n c o m p e t i t i v e f a c t o r s . If Richmond Commercial and S a v i n g s Bank, W i n c h e s t e r , V i r g i n i a , proposed merger w i t h Western F r e d e r i c k Bank, Gore, V i r g i n i a ; r e p o r t to the F e d e r a l D e p o s i t Insurance C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . \f Chicago F i r s t S t a t e Bank o f E a s t D e t r o i t , E a s t D e t r o i t , M i c h i g a n , p r o posed c o n s o l i d a t i o n w i t h F . S . B . Bank, East D e t r o i t , Michigan, under the c h a r t e r and t i t l e of F i r s t S t a t e Bank o f East D e t r o i t , East D e t r o i t , Michigan; r e p o r t to t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . If 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f o f authority. the Board of Governors under d e l e g a t e d H.2, 1980 No. 49 - 5 ACTIONS OF THE BOARD-Continued To Become a Member of the F e d e r a l R e s e r v e System P u r s u a n t t o S e c t i o n 9 o f t h e F e d e r a l R e s e r v e Act Richmond Approved The Bank o f M i d d l e s e x , Urbanna, V i r g i n i a . * * * * \J * I s s u e d I n t e n t Not t o D i s a p p r o v e Change o f C o n t r o l P u r s u a n t t o Change i n Bank C o n t r o l Act o f 1978 Not D i s a p p r o v e d Kansas C i t y Byers S t a t e B a n k s h a r e s , I n c . , Cleveland H a r r i s o n B a n c o r p o r a t i o n , C y n t h i a n a , Kentucky. * * * Byers, Colorado. JJ * \J * To Become a Bank H o l d i n g Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) o f t h e Bank H o l d i n g Company Act o f 1956 Atlanta Chicago Approved The F i r s t N a t i o n a l Bank of Palm B e a c h , I n c o r p o r a t e d , Palm Beach, F l o r i d a , f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by merger t o F i r s t N a t i o n a l Bank i n Palm Beach, Palm Beach, F l o r i d a . J J & 2 j C a r t e r Lake I n v e s t m e n t C o . , C a r t e r L a k e , I o w a , f o r a p p r o v a l to a c q u i r e at l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of F i r s t Bank and T r u s t o f C a r t e r Lake, C a r t e r L a k e , Iowa. 1/ Chicago 1/ 2/ & 1/ RANDALL-STORY BANCSHARES, I N C . , S t o r y C i t y , I o w a , f o r app r o v a l to a c q u i r e a t l e a s t 58 p e r c e n t of t h e v o t i n g s h a r e s of Randal 1 - S t o r y S t a t e Bank, S t o r y C i t y , I o w a . 1/ & 2j A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d aut hori t y . A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h o f the comment p e r i o d . H.2, 1980 No. 49 - 6 ACTIONS OF THE BOARD-Continued Minneapolis VEIS BANKSHARES, INCORPORATED, S c o b e y , Montana, f o r approval to a c q u i r e a t l e a s t 91 p e r c e n t of t h e v o t i n g s h a r e s of The C i t i z e n s S t a t e Bank o f S c o b e y , S c o b e y , Montana. JL/ & 2/ Kansas C i t y A r b u c k l e B a n c o r p , I n c . , S u l p h u r , Oklahoma, for a p p r o v a l t o a c q u i r e 80 p e r c e n t of the v o t i n g s h a r e s of F i r s t - O k l a h o m a Bank & T r u s t Company, S u l p h u r , Oklahoma. _1/ & 2] Kansas C i t y CHIMNEY ROCK BANCORP, Bayard, N e b r a s k a , f o r approval to a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) o f The F i r s t N a t i o n a l Bank o f B a y a r d , Bayard , N e b r a s k a . JL/ & 2/ Kansas C i t y Oakdale B a n c s h a r e s , I n c . , O a k d a l e , N e b r a s k a , f o r a p p r o v a l t o a c q u i r e a t l e a s t 9 9 . 5 p e r c e n t of t h e v o t i n g s h a r e s of The F i r s t S t a t e Bank, O a k d a l e , N e b r a s k a . 1/ & 2/ Kansas C i t y THUNDERBIRD BANCSHARES, I N C . , Shawnee, Oklahoma, for a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f The F e d e r a l N a t i o n a l Bank & T r u s t Company o f Shawnee, Shawnee, Oklahoma. 1/ & 2 / * * * * * To Expand a Bank H o l d i n g Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) o f t h e Bank H o l d i n g Company Act o f 1956 Cleveland Approved N a t i o n a l C i t y C o r p o r a t i o n , C l e v e l a n d , O h i o , for a p p r o v a l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) o f The Henry County Bank, N a p o l e o n , O h i o . 2/ Atlanta B a r n e t t Banks o f F l o r i d a , I n c . , J a c k s o n v i l l e , F l o r i d a , f o r a p p r o v a l to a c q u i r e 80 p e r c e n t o r more of t h e v o t i n g s h a r e s o f Hobe Sound N a t i o n a l Bank, M a r t i n County (P.O. Ho be Sound) , F l o r i d a . JL/ & 2 / Chicago Wirtz C o r p o r a t i o n , C h i c a g o , I l l i n o i s , f o r a p p r o v a l t o a c q u i r e 80 p e r c e n t o r more of t h e v o t i n g s h a r e s o f F i r s t S e c u r i t y T r u s t and S a v i n g s Bank, Elmwod P a r k , I l l i n o i s . 1/ & 2/ JL/ 2] A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h o f t h e comment p e r i o d . I ACTIONS OF THE BOARD-Continued To Expand a Bank H o l d i n g Company P u r s u a n t to S e c t i o n 4 ( c ) ( 8 ) o f t h e Bank H o l d i n g Company Act o f 1956 ^ Chicago San Franci sco New York \J 3/ Approved Banko, I n c . , O s c e o l a , Iowa, for a p p r o v a l to r e t a i n i t s a c t i v i t y a s a g e n t , i n the s a l e of c r e d i t l i f e , a c c i d e n t and h e a l t h i n s u r a n c e made i n c o n n e c t i o n w i t h e x t e n s i o n s of c r e d i t by O s c e o l a S t a t e Bank & T r u s t C o . , O s c e o l a , Iowa. If Reactivated W e l l s F a r g o & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage i n a c t i n g as agent for c r e d i t p r o p e r t y and c a s u a l t y i n s u r a n c e and a s s o c i a t e d l i a b i i t y i n s u r a n c e r e l a t e d t o WFCC'S e x t e n s i o n s o f c r e d i t to t h e e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws o r r e g u l a t i o n s ) t h e s e a c t i v i t i e s would be from o f f i c e s i n T u l s a and Oklahoma C i t y , Oklahoma, t h r o u g h i t s s u b s i d i a r y , W e l l s Fargo C r e d i t C o r p o r a t i o n ( 1 2 / 4 / 8 0 ) 3 / Permitted C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( t h e p u r c h a s i n g f o r i t s own a c c o u n t and s e r v i c i n g of s a l e s f i n a n c e c o n t r a c t s ; t h e s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h , d e c r e a s i n g or l e v e l ( i n t h e c a s e of s i n g l e payment l o a n s ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s o r b r o k e r s as r e q u i r e d ; t h e s a l e o f c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e p r o t e c t i n g r e a l and p e r s o n a l p r o p e r t y s u b j e c t to a s e c u r i t y agreement w i t h N a t i o n w i d e F i n a n c i a l C o r p o r a t i o n and t o the e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws and r e g u l a t i o n s ; and t h e making of l o a n s to i n d i v i d u a l s and b u s i n e s s e s s e c u r e d by r e a l and p e r s o n a l p r o p e r t y , t h e p r o c e e d s of which may be f o r p u r p o s e s o t h e r than p e r s o n a l , f a m i l y o r h o u s e h o l d u s a g e i n c l u d i n g , but n o t l i m i t e d t o , t h e e x t e n s i o n of l o a n s to d e a l e r s f o r the f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e s ; t h e I r v i n g and Lubbock o f f i c e s engage i n the making or a c q u i r i n g o f l o a n s and o t h e r e x t e n s i o n s o f c r e d i t , s e c u r e d o r u n s e c u r e d , f o r consumer and o t h e r p u r p o s e s ; C i t i c o r p A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d under. 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank o n b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 49 - 8 ACTIONS OF THE BOARD-Continued i s a p p l y i n g t o expand t h e s e r v i c e area of a l l t h e s e o f f i c e s to i n c l u d e the e n t i r e S t a t e of Texas and to expand t h e a c t i v i t i e s of the Houston o f f i c e so t h a t i t w i l l a l s o engage in t h e making or a c q u i r i n g o f l o a n s and o t h e r e x t e n s i o n s of c r e d i t , secured or u n s e c u r e d , for consumer and o t h e r p u r p o s e s ) a t 1425 West P i o n e e r , S u i t e 2 5 5 , I r v i n g ; Lubbock Square O f f i c e Tower, 4630 50th S t r e e t , S u i t e 4 0 6 , Lubbock; and 12400 1 - 4 5 & Greens Road, S u i t e 2 0 9 , Houst o n , a l l in Texas, through i t s s u b s i d i a r y , Nationwide Financial Corporation ( 1 2 / 5 / 8 0 ) New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t h e p u r c h a s i n g for i t s own account and s e r v i c i n g of s a l e s f i n a n c e c o n t r a c t s ; t h e s a l e o f c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h , d e c r e a s i n g or l e v e l ( i n the case of s i n g l e payment l o a n s ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s , as r e q u i r e d ; the making of l o a n s to i n d i v i d u a l s and b u s i n e s s e s secured by r e a l and p e r s o n a l p r o p e r t y , t h e proceeds of which may be f o r purposes o t h e r than p e r s o n a l , f a m i l y or h o u s e h o l d usage i n c l u d i n g , but not l i m i t e d t o , t h e e x t e n s i o n s of l o a n s to d e a l e r s f o r the f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e s ; c r e d i t r e l a t e d l i f e , a c c i d e n t and h e a l t h i n s u r a n c e may be u n d e r w r i t t e n by Family Guardian L i f e I n s u r a n c e Company, an a f f i l i a t e of C i t i c o r p P e r s o n - t o - P e r s o n F i n a n c i a l C e n t e r , I n c . ) a t 5801 East 4 1 s t S t r e e t , T u l s a , Oklahoma, through i t s s u b s i d i a r y , C i t i c o r p P e r s o n - t o - P e r s o n F i nancial Center, Inc. (12/5/80) 3j New York M i d l a n t i c Banks I n c . , West Orange, New J e r s e y , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( ( 1 ) making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , l o a n s and other e x t e n s i o n s o f c r e d i t as a f a c t o r ing company; ( 2 ) l e a s i n g p e r s o n a l p r o p e r t y and equipment on a f u l l payment b a s i s , or a c t n g as a g e n t , b r o k e r , or a d v i s e r in the l e a s i n g t h e r e o f ; and ( 3 ) s e r v i c i n g loans and o t h e r e x t e n s i o n s o f c r e d i t for any person) a t 230 South Tyron S t r e e t , C h a r l o t t e , North C a r o l i n a , through i t s s u b s i d i a r y , M i d l a n t i c Commercial Co. ( 1 2 / 3 / 8 0 ) 3 / 3/ 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 49 - 9 ACTIONS OF THE BOARD-Cont i n u e d Richmond E q u i t a b l e B a n c o r p o r a t i o n , B a l t i m o r e , Maryland , n o t i f i c a t i o n of i n t e n t to expand t h e r e i n s u r a n c e u n d e r w r i t i n g a c t i v i t i e s o f i t s s u b s i d i a r y , Equiban L i f e I n s u r a n c e Company, P h o e n i x , A r i z o n a , to i n c l u d e c r e d i t l i f e i n s u r ance p o l i c i e s s o l d i n c o n n e c t i o n w i t h e x t e n s i o n s of c r e d i t by t h e h o l d i n g company's s u b s i d i a r i e s i n V i r g i n i a and North C a r o l i n a ( 1 2 / 6 / 8 0 ) J3/ San Franci s c o BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (maki n g or a c q u i r i n g , f o r i t s own a c c o u n t l o a n s and o t h e r e x t e n s i o n s o f c r e d i t such as would be made or a c q u i r e d by a f i n a n c e company, s e r v i c i n g l o a n s and o t h e r e x t e n s i o n s o f c r e d i t ; and t h e o f f e r i n g of c r e d i t r e l a t e d l i f e and c r e d i t r e l a t e d a c c i d e n t and h e a l t h and c r e d i t r e l a t e d p r o p e r t y i n s u r a n c e ; such a c t i v i t i e s would i n c l u d e , but not l i m i t e d t o , making l o a n s and o t h e r e x t e n s i o n s o f c r e d i t to consumers as w e l l as s m a l l b u s i n e s s e s , p u r c h a s i n g i n s t a l l ment s a l e s f i n a n c e c o n t r a c t s , making l o a n s s e c u r e d by r e a l and p e r s o n a l p r o p e r t y and o f f e r i n g l i f e , a c c i d e n t and h e a l t h , and p r o p e r t y i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s o f c r e d i t made or a c q u i r e d by A p p l i c a n t ' s s u b s i d i a r y ) a t 205 F i r s t A v e n u e , Rock F a l l s , I l l i n o i s , t h r o u g h i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica Corporation (a Delaware C o r p o r a t i o n ) ( 1 2 / 5 / 8 0 ) 3 / San Francisco W e l l s F a r g o & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to e n g a g e i n de novo a c t i v i t i e s ( t o e n g a g e i n a c t i n g a s a g e n t f o r c r e d i t p r o p e r t y and c a s u a l t y i n s u r a n c e and a s s o c i a t e d l i a b i l i t y i n s u r a n c e r e l a t e d t o WFCC's e x t e n s i o n s o f c r e d i t to t h e e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws or r e g u l a t i o n s ) t h e s e a c t i v i t i e s would be from o f f i c e s i n T u l s a and Oklahoma C i t y , Oklahoma, t h r o u g h i t s s u b s i d i a r y , W e l l s Fargo C r e d i t C o r p o r a t i o n ( 1 2 / 4 / 8 0 ) 3 / * * * * * For Exemption P u r s u a n t to S e c t i o n 4 ( d ) of Bank H o l d i n g Company Act o f 1956 Chicago 3/ the Withdrawn Kemper C o r p o r a t i o n and Lumbermans Mutual C a s u a l t y Company, b o t h o f Long G r o v e , I l l i n o i s , f o r a p p r o v a l t o r e t a i n Bank o f C h i c a g o , C h i c a g o , I l l i n o i s . 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank o n b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . l M.Z, 1980 No. 49 - 1 0 APPLICATIONS RECEIVED To Become a Member of the F e d e r a l Reserve System P u r s u a n t t o S e c t i o n 9 o f t h e F e d e r a l R e s e r v e Act Kansas C i t y V a l l e y Bank and T r u s t , Glenwood S p r i n g s , C o l o r a d o . Kansas C i t y Bank o f B a s a l t , Kansas C i t y Roaring Fork Bank, C a r b o n d a l e , C o l o r a d o . Kansas C i t y Bank o f Snowmass , Snowmass V i l l a g e , C o l o r a d o . B a s a l t , Colorado. * * * * * To Merge P u r s u a n t t o S e c t i o n 1 8 ( c ) D e p o s i t I n s u r a n c e Act Boston of t h e F e d e r a l The C a r r o l l County T r u s t Company, Conway, New Hampshire, t o merge w i t h L a f a y e t t e N a t i o n a l Bank, L i t t l e t o n , New Hampshire. 2 / * * * * * To E s t a b l i s h a D o m e s t i c Branch P u r s u a n t to S e c t i o n 9 o f t h e F e d e r a l R e s e r v e Act New York The Bank of New Y o r k , New York, New York. To open an e l e c t r o n i c branch w i t h i n a s h o p p i n g c e n t e r p a r k i n g l o t at a d i s t a n c e o f 55 f e e t from t h e curb l i n e o f R i v e r s i d e Avenue and 216 f e e t n o r t h w e s t e r l y from t h e i n t e r s e c t i o n of R i v e r s i d e Avenue and Maple S t r e e t , V i l l a g e o f Croton-On-Hudson, Town of C o r t l a n d t , W e s t c h e s t e r County, New York. 2 / New York The Bank of New Y o r k , New York, New York. To open a branch o f f i c e at 60 Lakefront Boulevard, City o f B u f f a l o , E r i e C o u n t y , New York. 2 / Philadelphia Girard Bank, Bala Cynwyd, P e n n s y l v a n i a . To e s t a b l i s h o f f s i t e e l e c t r o n i c f a c i l i t i e s l o c a t e d at the S o u t h e a s t e r n P e n n s y l v a n i a C h a p t e r of the American Red C r o s s , T w e n t y T h i r d S t r e e t and R a n s t e a d S t r e e t , P h i l a d e l p h i a , P e n n s y l v a n i a , and a t the M e t h o d i s t H o s p i t a l , 2301 South Broad S t r e e t , Philadelphia, Pennsylvania. 2/ 2? A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h o f the comment p e r i o d . H.2, 1980 No. 49 - 1 1 - ACTIONS OF THE BOARD-Continued Richmond F i r s t V i r g i n i a Bank - South C e n t r a l , B r o o k n e a l , Cambel1 County, V i r g i n i a . To e s t a b l i s h a branch at U . S . Route 501 and S t a t e Route 4 0 , B r o o k n e a l , V i r g i n i a . 2 / Atlanta F i r s t G e o r g i a Bank, A t l a n t a , G e o r g i a . To e s t a b l i s h a branch l o c a t e d a t 6 8 4 0 P e a c h t r e e I n d u s t r i a l B o u l e v a r d Chamblee, G e o r g i a , to be known as Peach t r e e I n d u s t r i a l Branch. J2/ Chicago Davenport Bank and T r u s t Company, D a v e n p o r t , I o w a . To e s t a b l i s h of f s i t e e l e c t r o n i c f a c i l i t y a t Bag l a D i s c o u n t S u p e r m a r k e t - S t o r e # 2 3 1 , 2357 E a s t L o c u s t , D a v e n p o r t , Iowa. 2 / St. Louis The C i t i z e n s Bank, B a t e s v i l l e , A r k a n s a s . To e s t a b l i s h a branch a t C e n t r a l Avenue, B a t e s v i l l e , I n d e p e n d e n c e County, Arkansas. 2/ * * * * * To E s t a b l i s h a U . S . Branch of an Edge Act C o r p o r a t i o n P u r s u a n t t o S e c t i o n 2 5 ( a ) o f t h e F e d e r a l R e s e r v e Act New York Marine Midland Bank, N.A. , New York, New York: requests c o n s e n t f o r i t s w h o l l y owned banking Edge c o r p o r a t i o n , Marine Midland I n t e r n a t i o n a l Bank, Miami, F l o r i d a to e s t a b l i s h b r a n c h e s o f Edge i n H o u s t o n , T e x a s , Los A n g e l e s , C a l i f o r n i a and G e o r g e t o w n , Cayman I s l a n d s . * * * * * To Form a Bank H o l d i n g Company P u r s u a n t to S e c t i o n 3 ( a ) ( 1 ) o f t h e Bank H o l d i n g Company Act o f 1956 Richmond 2/ F & M H o l d i n g Company, S u m m e r s v i l l e , West V i r g i n i a , for a p p r o v a l t o a c q u i r e at l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f Farmers and M e r c h a n t s Bank o f Summersvil l e , Summersv i l l e , West V i r g i n i a . 2/ A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h o f the comment p e r i o d . H.2, 1980 No. 49 - 1 2 - APPLICATIONS RECEIVED-Continued Chicago ANCHOR BANCORPORATION INC., Farmer C i t y , I l l i n o i s , f o r app r o v a l to a c q u i r e 80 p e r c e n t of t h e v o t i n g s h a r e s o f Anchor S t a t e Bank, A n c h o r , I l l i n o i s . 2/ Chicago B u f f a l o B a n c o r p o r a t i o n , I n c . , B u f f a l o Grove, I l l i n o i s , for a p p r o v a l t o a c q u i r e 51 p e r c e n t o r more of the v o t i n g s h a r e s o f B u f f a l o Grove N a t i o n a l Bank, B u f f a l o Grove, I l l i n o i s . 2] Chicago Els ton C o r p o r a t i o n , Crawfordsvil l e , I n d i a n a , f o r approval to a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) o f the s u c c e s s o r by merger to E l s t o n Bank & T r u s t Company, C r a w f o r d s v i l l e , I n d i a n a . 2/ Chicago E v e r l y Bancorporat i o n , E v e r l y , Iowa, f o r approval to acquire 80 p e r c e n t o r more of t h e v o t i n g s h a r e s of E v e r l y S t a t e Bank, E v e r l y , I o w a . 2 / Chicago FIRST NATIONAL BANCORP. , New C a s t l e , I n d i a n a , f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s o f the s u c c e s o r by merger t o F i r s t N a t i o n a l Bank i n New C a s t l e , New C a s t l e , I n d i a n a . 2] Chicago Hardin County B a n c o r p o r a t i o n , E l d o r a , I o w a , f o r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t o f the v o t i n g s h a r e s o f Hardin County S a v i n g s Bank o f E l d o r a , I o w a , E l d o r a , Iowa. 2J Chicago Inwood Bancorp. I n c . , Rock R a p i d s , I o w a , f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of Inwood S t a t e Bank, Inwood, I o w a . 2j Minneapolis Echo B a n c s h a r e s , I n c . , E c h o , M i n n e s o t a , f o r a p p r o v a l t o a c q u i r e 80 p e r c e n t of t h e v o t i n g s h a r e s o f C i t i z e n s S t a t e Bank o f E c h o , E c h o , M i n n e s o t a . 2] Minneapolis F i n a n c i a l S e r v i c e s o f W i n g e r , I n c . , Winger, M i n n e s o t a , f o r a p p r o v a l t o a c q u i r e a t l e a s t 9 4 . 6 p e r c e n t of the v o t i n g s h a r e s o f Farmers S t a t e Bank o f Winger, Winger, M i n n e s o t a . 2/ Minneapolis 2/ Lakeland A g e n c y , I n c . , Pequot L a k e s , M i n n e s o t a , f o r a p p r o v a l to a c q u i r e 9 5 . 3 7 p e r c e n t of t h e v o t i n g s h a r e s of L a k e l a n d S t a t e Bank, Pequot L a k e s , M i n n e s o t a . 2J A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as t o t h e l e n g t h of t h e comment p e r i o d . H.2, 1980 No. 49 - 13 APPLICATIONS RECEIVED-Continued Dallas F i r s t C i t i z e n s B a n c s h a r e s , I n c . , Waxahachie, T e x a s , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s o f C i t i z e n s N a t i o n a l Bank i n W a x a h a c h i e , Waxahachie, Texas. 2/ Dallas Metro B a n c s h a r e s , I n c . , A l v a r a d o , T e x a s , f o r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of A l v a r a d o S t a t e Bank, A l v a r d o , T e x a s . 2j San Francisco O r i e n t B a n c o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , f o r app r o v a l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s o f Bank of t h e O r i e n t , San F r a n c i s c o , C a l i f o r n i a . 2/ * * * * * To Expand a Bank H o l d i n g Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) o f t h e Bank H o l d i n g Company Act o f 1956 New York U n i t e d Bank C o r p o r a t i o n of New York, A l b a n y , New York, f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s o f The S u l l i v a n County N a t i o n a l Bank of L i b e r t y , L i b e r t y , New York. 2/ Cleveland F i f t h Third Bancorp, C i n c i n n a t i , O h i o , f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of The Farmers Bank, West U n i o n , O h i o . 2 / Atlanta M e t r o p o l i t a n B a n c o r p o r a t i o n , Tampa, F l o r i d a , for a p p r o v a l t o a c q u i r e 8 8 . 4 5 p e r c e n t of the v o t i n g s h a r e s o f F i r s t Bank and T r u s t Company, B e l l e a i r B l u f f s , F l o r i d a . 2 / Chicago H e r i t a g e W i s c o n s i n C o r p o r a t i o n , Wauwatosa, W i s c o n s i n , f 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 t h e v o t i n g s h a r e s of N o r t h r i d g e Bank, M i l w a u k e e , W i s c o n s i n . 2j Chicago H e r i t a g e W i s c o n s i n C o r p o r a t i o n , Wauwatosa, W i s c o n s i n , f o r a p p r o v a l t o a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s o f S o u t b r i d g e Bank of G r e e n d a l e , G r e e n d a l e , W i s c o n s i n . 2J Chicago I n d e p e n d e n t Bank C o r p o r a t i o n , I o n i a , M i c h i g a n , f 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 t h e v o t i n g s h a r e s of t h e s u c c e s s o r by c o n s o l i d a t i o n to The Old S t a t e Bank o f Fremont, Fremont, M i c h i g a n . 2 / 2/ A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1980 No. 49 - 14 APPLICATIONS RECEIVED-Continued Dallas Commerce Southwest I n c . , D a l l a s , T e x a s , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s o f C e n t r a l N a t i o n a l Bank o f McKinney, McKinney, T e x a s . 2J Dallas Commerce Southwest I n c . , D a l l a s , T e x a s , for approval t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of White Rock Bank of D a l l a s , D a l l a s , T e x a s . 2 / * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) o f t h e Bank H o l d i n g Company Act of 1956 New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or for t h e account of o t h e r s , commercial l o a n s and o t h e r e x t e n s i o n s of c r e d i t ; and l e a s i n g p e r sonal or r e a l p r o p e r t y or a c t i n g as a g e n t , broker or a d v i s e r i n l e a s i n g such property and s e r v i c i n g such l e a s e s s u b j e c t to a l l of t h e q u a l i f i c a t i o n s s p e c i f i e d i n 12 C.F.R. 2 2 5 . 4 ( a ) ( 6 ) ( a ) and ( b ) where the l e a s e s s e r v e as t h e f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n of c r e d i t to the l e s s e e of the p r o p e r t y ) at 575 L e x i n g t o n Avenue, New York, New York, through i t s s u b s i d i a r y , C i t i c o r p I n d u s t r i a l C r e d i t , I n c . and a t 485 L e x i n g t o n Avenue, New York, New York, through i t s s u b s i d i a r y , C i t i c o r p I n d u s t r i a l C r e d i t , I n c . ( 1 2 / 5 / 8 0 ) _3/ New York Horizon Bancorp, Morris town, New J e r s e y , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , for i t s own account or for t h e account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t ( i n c l u d i n g i s s u i n g l e t t e r s o f c r e d i t and a c c e p t i n g d r a f t s ) such as would be made, f o r example, by a m o r t g a g e , f i n a n c e , c r e d i t card o r f a c t o r i n g company; s e r v i c i n g loans and o t h e r e x t e n s i o n s o f c r e d i t f o r any person; and l e a s i n g p e r - 2/ 3V A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d a s to the l e n g t h of the comment p e r i o d . 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . I H.2, 1980 No. 49 -15 - APPLICATIONS RECEIVED-Cont inued s o n a l p r o p e r t y o r a c t i n g as broker or a d v i s e r in l e a s i n g such property p r o v i d e d such l e a s e s meet the c r i t e r i a of S e c t i o n 2 2 5 . 4 ( a ) ( 6 ) of R e g u l a t i o n Y) at 334 Madison Avenue, M o r r i s t o w n , New J e r s e y , through i t s s u b s i d i a r y , Horizon C r e d i t c o r p ( 1 2 / 5 / 8 0 ) 2J New York Manufacturers Hanover C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (commercial l e a s i n g and f i n a n c i n g a c t i v i t i e s , l e a s i n g r e a l and p e r s o n a l p r o p e r t y on a f u l l payout b a s i s , a c t i n g as a g e n t , broker or a d v i s e r i n l e a s i n g such p r o p e r t y , making or a c q u i r i n g , f o r i t s own account or f o r the a c count of o t h e r s , l o a n s and other e x t e n s i o n s o f c r e d i t w i t h r e s p e c t to r e a l or p e r s o n a l p r o p e r t y and s e r v i c i n g such l e a s e s , loans and other e x t e n s i o n s o f c r e d i t ) at P i l l s b u r y C e n t e r , 200 South S i x t h S t r e e t , M i n n e a p o l i s , M i n n e s o t a , through i t s s u b s i d i a r y , Manufacturers Hanover Leasing Corporation ( 1 2 / 4 / 8 0 ) 3/ Richmond Maryland N a t i o n a l C o r p o r a t i o n , B a l t i m o r e , Maryland, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( i n c l u d i n g , but n o t l i m i t e d t o , t h e l e a s i n g o f v a r i o u s t y p e s of equipment, machinery, v e h i c l e s , t r a n s p o r t a t i o n equipment, and data p r o c e s s i n g equipment and i n c l u d i n g c o n d i t i o n a l s a l e s c o n t r a c t s and c h a t t e l m o r t g a g e s ) where the l e a s e i s t h e f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n o f c r e d i t ; o r i g i n a t i n g and s e r v i c i n g p e r s o n a l p r o p e r t y l e a s e s as p r i n c i p a l or a g e n t ; b u y i n g , s e l l i n g and o t h e r w i s e d e a l i n g i n p e r s o n a l p r o p e r t y l e a s e c o n t r a c t s as p r i n c i p a l or a g e n t ; a c t i n g as a d v i s e r i n p e r s o n a l p r o p e r t y l e a s i n g t r a n s a c t i o n s ; e n g a g i n g i n the s a l e , a s agent or b r o k e r , of i n s u r a n c e s i m i l a r i n form and i n t e n t to c r e d i t l i f e a n d / o r mortgage redemption i n s u r a n c e ; commercial l e n d i n g o p e r a t i o n s i n c l u d i n g , but not l i m i t e d t o , s e c u r e d and unsecured commercial loans and o t h e r e x t e n s i o n s of c r e d i t to commerc i a l e n t e r p r i s e s ; and a c t i n g as a d v i s o r or broker in comm e r c i a l l e n d i n g t r a n s a c t i o n s ) at S u i t e 295, T o l l h i l l O f f i c e Park, 5310 Harvest H i l l s Road, D a l l a s , T e x a s , through i t s s u b s i d i a r y , Maryland N a t i o n a l Leasing Corporation (12/4/80) V 37 4 ( c ) (8) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . I H.2, 1980 No. 49 - 16 APPLICATIONS RECEIVED-Continued Richmond Maryland N a t i o n a l C o r p o r a t i o n , B a l t i m o r e , Maryland, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o i n c l u d e commercial l e n d i n g o p e r a t i o n s i n c l u d i n g , but not l i m i t e d t o , secured and unsecured commercial l o a n s and o t h e r e x t e n s i o n s of c r e d i t to commercial e n t e r p r i s e s and a c t i n g as a d v i s e r or broker in commercial l e n d i n g t r a n s a c t i o n s ) at 300 East Joppa Road, Towson and 10 L i g h t S t r e e t , B a l t i m o r e , Maryland, through i t s s u b s i d i a r y , Maryland N a t i o n a l L e a s i n g C o r p o r a t i o n ( 1 2 / 4 / 8 0 ) 3_/ Richmond V i r g i n i a National Bankshares, I n c . , Norfolk, V i r g i n i a , not i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (maki n g , a c q u i r i n g , and s e r v i c i n g , for i t s own account or for the account of o t h e r s , l o a n s secured p r i n c i p a l l y by second mortgages on r e a l p r o p e r t y ; and a c t i n g as agent in t h e s a l e of c r e d i t l i f e i n s u r a n c e and a c c i d e n t and h e a l t h i n surance i n c o n n e c t i o n with such l o a n s ) a t 6 6 0 0 L o i s d a l e Court, S p r i n g f i e l d , V i r g i n i a , through i t s s u b s i d i a r y , VNB E q u i t y C o r p o r a t i o n ( 1 2 / 5 / 8 0 ) 3_/ Chicago Correction: CAARGO F i n a n c i a l C o r p o r a t i o n , B e n t o n v i l l e , I n d i a n a , f o r app r o v a l to engage i n t h e s a l e o f g e n e r a l i n s u r a n c e through the a c q u i s i t i o n of O l i n W. D a v i s , I n c . , B e n t o n v i l l e , I n d i a n a , a community o f l e s s than 5 , 0 0 0 p o p u l a t i o n . T h i s a p p l i c a t i o n was m i s t a k e n l y l e f t o f f o f H.2 No. 4 1 , 1980 as R e c e i v e d . Chicago Inwood Bancorp. I n c . , Inwood, Iowa, f o r approval to conot i n u e to engage i n g e n e r a l i n s u r a n c e a c t i v i t i e s in a town of l e s s than 5 , 0 0 0 p o p u l a t i o n . Chicago Keys t o n e , I n c . , Rock R a p i d s , Iowa, for approval to engage i n g e n e r a l i n s u r a n c e a c t i v i t i e s in Ashton and L e s t e r , Iowa, communities w i t h l e s s than 5 , 0 0 0 p o p u l a t i o n . Chicago The Marine C o r p o r a t i o n , Milwaukee, W i s c o n s i n , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o o p e r a t e a t r u s t s e r v i c e o f f i c e and assume the t r u s t f u n c t i o n of F i r s t N a t i o n a l Bank and Trust Company of Racine) a t 500 W i s c o n s i n Avenue, R a c i n e , W i s c o n s i n , through The Marine Trust Company, N.A. ( 1 1 / 2 8 / 8 0 ) 3 / 3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 49 - 1 7 APPLICATIONS RECEIVED-Continued Chicago N a t i o n a l D e t r o i t C o r p o r a t i o n , D e t r o i t , Michigan, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in mortgage banking a c t i v i t i e s i n c l u d i n g t h e making and a c q u i r i n g o f mortgage l o a n s for i t s account and for t h e account of o t h e r s ) at 2945 Midland Road, Midland, Michigan, through i t s wholly-owned s u b s i d i a r y , NBD Mortgage Company (11/28/80) V Minneapolis F i r s t Bank S y s t e m , I n c . , M i n n e a p o l i s , Minnesota, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage i n the making or a c q u i r i n g , f o r i t s own account or f o r t h e account of o t h e r s , s e c u r e d and unsecured l o a n s or o t h e r e x t e n s i o n s o f c r e d i t such as would be made by a commercial f i n a n c e or f a c t o r i n g company, and s e r v i c i n g l o a n s and o t h e r e x t e n s i o n s of c r e d i t f o r any person) a t 1400 F i r s t N a t i o n a l Bank B u i l d i n g , M i n n e a p o l i s , M i n n e s o t a , through FBS B u s i n e s s C r e d i t , I n c . ( 1 1 / 2 0 / 8 0 ) 3/ Minneapolis Lakeland Agency, I n c . , Pequot Lakes, Minnesota, f o r approval to engage i n t h e s a l e o f g e n e r a l i n s u r a n c e in a community of l e s s than 5 , 0 0 0 p o p u l a t i o n . San Franci s c o U . S . Bancorp, P o r t l a n d , Oregon, n o t i f i c a t i o n of i n t e n t t o engage in de novo a c t i v i t i e s ( t o engage i n the making, a c q u i r i n g and s e r v i c i n g o f l o a n s and o t h e r e x t e n s i o n s of c r e d i t e i t h e r secured or unsecured f o r i t s own account or for t h e account of o t h e r s , i n c l u d i n g t h e making of consumer i n s t a l l m e n t l o a n s , p u r c h a s i n g consumer i n s t a l l ment and r e a l e s t a t e s a l e s f i n a n c e c o n t r a c t s and e v i d e n c e s of debt and making consumer home e q u i t y l o a n s secured by r e a l e s t a t e , making i n d u s t r i a l l o a n s ; and a c t i n g as i n s u r ance agent w i t h regard t o c r e d i t l i f e and d i s a b i l i t y i n s u r ance s o l e l y i n c o n n e c t i o n with e x t e n s i o n s o f c r e d i t by Bancorp F i n a n c i a l ) i n the London Square Shopping Center on the n o r t h e a s t c o r n e r of t h e P e o r i a and I l i f f I n t e r s e c t i o n in Aurora, C o l o r a d o , through i t s s u b s i d i a r y , U.S. Bancorp F i n a n c i a l , I n c . ( 1 2 / 1 / 8 0 ) 3 / San F r a n c i sco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making o r a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , l o a n s and other e x t e n s i o n s o f c r e d i t ; l e a s i n g personal or r e a l p r o p e r t y o r a c t i n g as a g e n t , broker or a d v i s e r in l e a s - 3/ 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 49 - 18 APPLICATIONS RECEIVED-Continued i n g such p r o p e r t y vrtiere t h e l e a s e i s to s e r v e as the f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n o f c r e d i t t o t h e l e s s e e of the p r o p e r t y and w h e r e a t the i n c e p t i o n of the i n i t i a l l e a s e t h e e f f e c t of t h e t r a n s a c t i o n ( a n d , w i t h r e s p e c t t o governmental e n t i t i e s o n l y , r e a s o n a b l y a n t i c i p a t e d f u t u r e t r a n s a c t i o n s ) w i l l y i e l d a r e t u r n t h a t w i l l compensate t h e l e s s o r f o r not l e s s than the l e s s o r ' s f u l l i n v e s t m e n t i n t h e p r o p e r t y p l u s t h e e s t i m a t e d t o t a l c o s t of f i n a n c i n g t h e p r o p e r t y o v e r the term o f the l e a s e , from r e n t a l s , e s t i m a t e d t a x b e n e f i t s ( i n v e s t m e n t t a x c r e d i t , n e t economic g a i n from t a x d e f e r r a l from a c c e l e r a t e d d e p r e c i a t i o n , and other t a x b e n e f i t s with a s u b s t a n t i a l l y s i m i l a r e f f e c t ) , and t h e e s t i m a t e d r e s i d u a l v a l u e of the p r o p e r t y a t the e x p i r a t i o n of t h e i n i t i a l t e r m of t h e l e a s e vrfiich i n no c a s e s h a l l e x c e e d 20 p e r c e n t o f the a c q u i s i t i o n c o s t of t h e l e s s o r ) i n Bake r s f i e l d , C a l i f o r n i a and i n C i n c i n n a t i , O h i o , t h r o u g h i t s s u b s i d i a r i e s , W e l l s Fargo L e a s i n g Corporat i o n , W e l l s Fargo T r a n s p o r t L e a s i n g C o r p o r a t i o n , W e l l s Fargo Equipment L e a s i n g C o r p o r a t i o n and W e l l s Fargo E q u i p ment C r e d i t C o r p o r a t i o n ( 1 2 / 3 / 8 0 ) 3 / San Francisco W e s t e r n B a n c o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to e n g a g e i n de novo a c t i v i t i e s ( t o e n g a g e i n a c t i n g a s an i n v e s t m e n t o r f i n a n c i a l a d v i s e r to the e x t e n t set f o r t h in t h e B o a r d ' s R e g u l a t i o n Y, e x c l u d i n g the a c t i v i t y of 2 2 5 . 4 ( a ) ( 5 ) ( i i ) ) at 800 S e v e n t e e n t h S t r e e t , Denver, C o l o r a d o , t h r o u g h i t s s u b s i d i a r y , Western A s s e t Management Company ( 1 2 / 4 / 8 0 ) 3 / * * * * * REPORTS RECEIVED None. * * * * * PETITIONS FOR RULEMAKING 3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank o n b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .
@FedFRASER