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ANNOUNCEMENT BY

BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1979 No. 6)
Actions of the Board; Applications and Reports
Received During the Week Ending February 10, 1979
ACTIONS OF THE BOARD
Statement by Governor Henry C. Wallich before the Senate
Banking Committee on the views of the Federal Reserve
Board on extending the Council on Wage and Price
Stability for two years.
Consumer Affairs and Civil Rights Compliance Program,
the Board announced an expanded and strengthened
program to improve compliance by member banks.
Change in Bank Control Act of 1978, the Board has
adopted a policy statement and revised its Regulation
Y to implement the Act. (Docket No. R-0199)
The Board adopted a system for appraising and rating the
performance and financial condition of bank holding
companies.
Bank of the Commonwealth, Detroit, Michigan, permission
to make an additional investment in bank premises.
Issuance of subordinated capital notes by Summit State
Bank of Richfield, Richfield, Minnesota.
National Detroit Corporation, Detroit, Michigan, extension of time to May 13, 1979, within which to acquire
100 per cent of the voting shares of NBD-Portage Bank,
Portage, Michigan (in organization). 1/
Commerce Bank of Kirkwood, Kirkwood, Missouri, permission
to make an investment in bank premises. 1/
M&I Marshall & lis ley Bank, Milwaukee, Wisconsin, to make
an investment in bank premises. 1/
Northern Virginia Bank, Springfield, Virginia, permission
to invest in bank premises. 1/
Dollar Savings Bank Company, Niles, Ohio, extension of
time to August 19, 1979, within which to establish a
branch at 5845 Warren-Youngstown Road, Niles, Ohio. 1/
17 Application processed on behalf of the Board of Governors under delegated
authority.




H.2, 1979 No. 6

-

2

-

ACTIONS OF THE BOARD-Continued
Farmers and Merchants Bank of Centred California, Lodi,
California, extension of time to August 22, 1979,
within which to establish a branch at McHenry Avenue
between Woodrow and Floyd Avenues, North Modesto,
California. 1/
Provident Bank, Cincinnati, Ohio, extension of time to
September 19, 1979, within which to establish a branch
at 1994 Madison Road, Cincinnati, Ohio. 1/
United California Bank, Los Angeles, California, extension of time to August 21, 1979, within which to
establish a branch in the vicinity of Stevens Creek
Boulevard and Wolfe Road, City of Cupertino, California.
y

Pitkin County Bank and Trust Company, Aspen, Colorado,
extension of time to July 31, 1979, within which to
complete its application for membership in Federal
Reserve System. 1/
Arkansas Bank and Trust Company, Hot Springs, Arkansas,
extension of time to August 25, 1979, within which to
complete the sale of subordinated capital notes to the
public. 1/
Issuance of a subordinated capital note by Bank of El
Paso, El Paso, Texas. 1/
Collegiate State Bank of Fort Worth, Fort Worth, Texas,
proposed merger with University Bank, Fort Worth,
Texas? report to the Federal Deposit Insurance Corporation on competitive factors. 1/
H.C.B. National Bank of Norwalk, Norwalk, Ohio, proposed
merger with The Huron County Banking Company, National
Association, Norwalk, Ohio; report to the Comptroller
of the Currency on competitive factors. 1/
Heritage Savings Bank, Kingston, New York, proposed merger
with Albany Savings Bank, Albany, New York; report to
the Federal Deposit Insurance Corporation on competitive
factors. 1/

17 Application processed on behalf of the Board of Governors under delegated
authority.




I

—3—

H.2, 1979 No. 6

ACTIONS CF THE BCftRD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
Heritage Bank and Trust, Norfolk, Virginia. Branch to
be established at 200 E. Plume Street, Norfolk. 1/ &

1/

* * * * *

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
Morgan Guaranty International Finance Corporation, New
York, New York: permission to amend Article "Ninth"
of its Articles of Association to delete, the requirement that all directors must be citizens of the United
States
Bank of America N.T. & S.A., San Francisco, California:
consent to purchase and hold, directly or indirectly,
an additional 1,601,752 shares of Commercial and
General Acceptance Limited, Sydney, Australia.
*

* * * *

To Organize, or Invest in, a Corporation doing
Foreign Banking and Other Foreign Financing Pursuant
to Section 25 or 25(a) of the Federal Reserve Act
Approved
Hie First National Bank of Chicago, Chicago, Illinois:
to establish an Edge Act Corporation to be known as
First Chicago International-Southwest, Houston, Texas.

v

Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.




A

H.2, 1979 No. 6

- 4ACTIONS OF THE BQftKD-Continued
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Suspended
WHITEWATER BANCORP., INC., Whitewater, Wisconsin, for
approval to acquire 83.85 per cent of the voting
shares of The First Citizens State Bank of Whitewater,
Wisconsin, Whitewater, Wisconsin. 1_ & 2/
Approved

Security State Bancshares, Inc., Stockdale, Texas, for
approval to acquire 80-100 per cent (less directors'
qualifying shares) of the voting shares of Security
State Bank, Stockdale, Texas, 1 & 2/
*

* * * *

To Expand a Bank Holding Company Pursuant to Section
3 (a) (3) of the Bank Holding Company Act of 1956
Approved
Society Corporation, Cleveland, Ohio, for approval to
acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger
to First National Bank of Clermont County, Bethel,
Ohio. 1/ & 2/
Mercantile Texas Corporation, Dallas, Texas, for approval to acquire 100 per cent (less directors'
qualifying shares) of the voting shares of Citizens
National Bank of Austin, Austin, Texas. 2/
* * * * *

To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Approved
First Hawaiian, Inc., Honolulu, Hawaii, for approval
to continue to engage in the sale of credit related
life, accident and health insurance in connection with
extensions of credit made by its wholly-owned subsidiary, Hawaii Thrift & Loan, Incorporated, Honolulu,
Hawaii.
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.



I

H.2, 1979 No. 6

- 5ACTIONS OF THE BOARD-Continued

Returned
1st State Corporation, Chicago, Illinois, notification
of intent to engage in de novo activities (making or
acquiring for its own account, commercial loans and
other commercial extensions of credit, including secured
and unsecured loans to individuals, corporations and
partnerships such as would be made by a commercial bank,
and leasing of automobiles to industry, banks and others
where at the inception of the initial lease the effect
of the transaction will yield a return that will compensate
the lessor for not less than the lessor's full investment
in the property plus the estimated total cost of financing
the automobiles over the term of the lease, and such
leases shall contain such other terms and conditions as
shall comply with Section 225.4(a) (6) (a) of Regulation Y
issued by The Board of Governors of the Federal Reserve
System) at 4646 North Cumberland Avenue, Chicago, Illinois.
This returns the notification that was received on H.2
No. 2, 1979 (2/9/79) 3/
Delayed
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to continue to engage
in de novo activities (provided investment advisory and
investment management services for portfolios of fixed
income securities of domestic and foreign customers
wherever located and investment in and trading for its
own account, bills, notes, bonds and other obligations
of the United States Treasury, agencies of the United
States Government, states, and political subdivisions of
the foregoing, certificates of deposit and certain other
obligations of banks and other securities obligations
and contracts in which national banks are legally
permitted to invest and trade for its own account)
Philadelphia National Corporation proposes to transfer
to itself from its subsidiary, The Philadelphia National
Bank, the capital stock of Charter Atlantic Corporation
and thereby to continue to engage through Charter Atlantic
Corporation and its wholly-owned subsidiaries, Fischer,
Francis, Trees and Watts, Inc. and Charter Atlantic
Securities Inc., both of New York City, New York in the
above activities which were originally commenced de novo
by Philadelphia National Corporation through such subsidiaries while owned by the bank (2/8/79) 3/
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1979 No. 6

6 -

ACTIONS OF THE BQARD-Ccxitinued
Permitted
Chemical New York Corporation, New York, New York, notification of intent to engage in cte novo activities (the
origination and sale of mortgage loans on residential,
ocnmercial and industrial real estate; the servicing of
mortgage loans owned by Galbreath Mortgage Company and
owned by others) at 277 Park Avenue, New York, New York
and International Boulevard and Peachtree Street, N.E.,
Atlanta, Georgia, through its subsidiary, The Galbreath
Mortgage Cocpany (2/10/79) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (acting as agent or broker
for the sale of credit related property and casualty
insurance (on purchased installment sales finance contracts, said insurance will only be offered when such
transactions are the equivalent of direct extensions of
credit by Mvance Mortgage Corporation) on property,
generally mobile hones and one-to-four family residences
where Advance Mort je Corporation has a security interest
and to include liability coverage in homeowner "package"
policies where such is the general practice by licensed
agents or brokers) at 9247 North Meridian Street,
Indianapolis, Indiana, through its subsidiary, Advance
Insurance Agency, Inc. at offices of Advance Mortgage
Corporation in Phoenix, Arizona, Tucson, Arizona and
Montgomery, Alabama (2/10/79) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making or acquiring, for
its own account or for the account of others, ocnmercial
loans) at 233 South Wacker Drive, Chicago, Illinois,
through its subsidiary, Citicorp Industrial Credit, Inc.
(2/10/79) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making or acquiring, for
its own account or for the account of others, commercial
loans; and leasing personal or real property or acting
as agent, broker or adviser in leasing such property and
servicing such leases where the leases serve as the
functional equivalent of an extension of credit to the
lessee of the property where at the inception of the
initial lease the effect of the transaction will be to
compensate the lessor for not less than its full investment in the property over the term of the lease,
"57 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




ACTIONS OF TOE BOARD-Oontinued
and where the transaction is subject to all of the
qualifications specified in 12 CFR 225.4(a) (6) (a) and
(b)) at 4615 Southwest Freeway, Houston, Texas and
Three Girard Plaza, Philadelphia, Pennsylvania,
through its subsidiary, Citicorp Industrial Credit,
Inc. (2/10/79) 3/
Mellon National Corporation, Pittsburgh, Pennsylvania,
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 such as would be made by a mortgage company;
acting as insurance agency in connection with credit
life and disability insurance which is directly related
to the extension of credit or extension of other financial services by Carruth Mortgage Corporation) in
the proximity of the intersection of McGregor Blvd.
and Cypress Lake Drive, Fort Myers, Florida, through
its wholly-owned subsidiary, Carruth Mortgage Corporation, New Orleans, Louisiana (2/4/79) 3/
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 including consumer loans, the purchase of sales
finance contracts, loans to small businesses and other
extensions of credit such as would be made by a
factoring company or finance company; and acting as an
insurance agent or broker for the sale of credit
related life and accident and health insurance) at
3627 Virginia Beach Blvd., Virginia Beach, Virginia,
through its subsidiary, Instaloan Financial Services,
Inc. (2/3/79) 3/
Citizens Fidelity Corporation, Louisville, Kentucky,
notification of intent to continue to engage in de
novo activities (leasing of personal property and
equipment and acting as agent, broker or adviser in
the leasing of such property) at Bluegrass Commerce
Center, 400 East Main Street, Lexington, Kentucky,
through a subsidiary, Citizens Fidelity Leasing
Corporation (2/10/79) 3/
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1979 No. 6

- 8ACTICNS OF THE BQftRDHjontinued
To Expand a Bank Holding Company Pursuant to Section
4(c) (12) of the Bank Holding Company Act of 1956
Permitted
Warner Communications Inc., New York, New York, notification of intent to acquire all the business of
Coaxial Camunicaticns, Colinbus, Ohio (2/9/79) 3/
Luirbermans Mutual Casualty Caipany, Long Grove, Illinois,
notification of intent to acquire indirectly, through
its subsidiary, Kemper Corporation, Long Grove,
Illinois, an additional 47 per cent of the outstanding
common stock of Hearex Occupational Health Services,
Inc., Tanpa, Florida (2/9/79) 3/

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




I

H.2, 1979 No. 6

- 9APPLICATIONS RECEIVED

To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
The Cleveland Trust Ctimpany, Cleveland, Ohio. Branch
to be established on the south side of Detroit Road, 300
feet west of Columbia Road, West lake, Cuyahoga County.

1/

The Cleveland Trust Company, Cleveland, Ohio. Branch
to be established at the southwest corner of Chagrin
Boulevard and Commerce Park Road, Beachwood, Cuyahoga
County. 2/
Chemical Bank and Trust Company, Midland, Michigan.
Branch to be established in the vicinity of 3858 M-13,
Pinconning Township, Bay County. 2/
United California Bank, Los Angeles, California. Branch
to be established in the vicinity of the intersection of
Nineteenth and Carnelian Streets, City of Rancho Cucamoga,
San Bemad 1 no County. 2/
*

* *

* *

To Become a Menfaer of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Valley Bank and Trust Company, Bluefield, West Virginia.
*

*

* * *

To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Bank of Virginia, Richmond, Virginia: permission to
establish a branch at Nassau, Bahamas.
The First National Bank of Chicago, Chicago, Illinois:
consent to establish a branch in Madrid, Spain.
27 Application subject to Community Reinvestment Act.




H.2, 1979 No. 6

- 1 0 -

APPLICATICNS RECEIVED-Continued

To Expand a Bank Holding Carpany Pursuant to Section
3 (a) (3) of the Bank Holding Company Act of 1956
First National Boston Corporation, Boston, Massachusetts,
for approval to acquire 100 per cent of the voting
shares of Southeastern Bank and Trust Carpany, New
Bedford, Massachusetts. 2/
Ellis Banking Corporation, Bradenton, Florida, for approval to acquire 100 per cent of the voting shares of
Pan American Bank of Altamonte Springs, Altamonte
Springs, Florida. 2/
Ellis Banking Corporation, Bradenton, Florida, for approval to acquire 96 per cent or more of the voting
shares of Pan American Bank of Ormond Beach, N.A.,
Qrmond Beach, Florida. 2/
Ellis Banking Corporation, Bradenton, Florida, for approval to acquire 96 per cent or more of the voting
shares of Pan American Bank of Volusia County, N.A.,
DeBary, Florida. 2/
*

* * * *

To Expand a Bank Holding Company Pursuant to Section
3 (a) (5) of the Bank Holding Company Act of 1956
T.N.B. Financial Corp., Springfield, Massachusetts, for
approval to merge with Pioneer Bancorp, Inc., Greenfield, Massachusetts. 2/
*

*

* * *

To Expand a Bank Holding Company Pursuant to Section
4 (c) (8) of the Bank Holding Company Act of 1956
First National Boston Corporation, Boston, Massachusetts,
notification of intent to engage in de novo activities
(to engage for its own account in the marketing of and
to engage de novo in servicing activities) in Los
Angeles, California, through a subsidiary, Invencheck,
Inc. (2/9/79) 3/
27 Application subject to Community Reinvestment Act.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.


http://fraser.stlouisfed.org/
Federal Reserve Bank of I
St. Louis

H.2, 1979 No. 6

-

11 -

APPLICATIONS RETEIVED-Continued

Chemical New York Corporation, New York, New York, notification of intent to engage in de novo activities
(to act as an insurance agent for the purpose of making mortgage life and mortgage disability insurance
available in connection with extensions of mortgage
credit by Chemical Bank) at 5 Niagara Square, Buffalo,
New York, through its subsidiary, Sunamerica Corporation (2/7/79) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (purchasing and servicing
for its own account consumer installment sales finance
contracts; sale of credit related life and 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 of the credit transactions in the event of
the obligor's disability by licensed agents or broker
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 Citicorp Person-to-Person Financial
Center, Inc. and to include liability coverage in heme
or automobile policies where such is the general
practice by licensed agents or broker to the extent
permissible under applicable State insurance laws and
regulations) at 9000 Keystone Crossing, Suite 110,
Indianapolis, Indiana, through its subsidiary,
Citicorp Person-to-Person Financial Center, Inc.
(2/8/79) 3/
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to continue to engage
in de novo activities (provided investment advisory
arxTIhvestment management services for portfolios of
fixed income securities of domestic and foreign customers wherever located and investment in and trading
for its own account; bills, notes, bonds and other
obligations of the United States Treasury, agencies
of the United States Government, states, and political
subdivisions of the foregoing, certificates of deposit
and certain other obligations of banks and other
securities obligations and contracts in which national
banks are legally permitted to invest and trade for
its own account) Philadelphia National Corporation
proposes to transfer to itself from its subsidiary,
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




i

H.2, 1979 No. 6

- 12 APPLICATIONS BECXEVECH^ontinued
The Philadelphia National Bank, the coital stock of
Charter Atlantic Corporation and thereby to continue
to engage through Charter Atlantic Corporation and its
viiolly-owned subsidiaries, Fischer, Francis, Trees and
Watts, Inc. and Charter Atlantic Securities Inc., both
of New York City, New York in the above activities
which were originally commenced da novo by Philadelphia
National Corporation through such subsidiaries while
owned by the bank (1/2/79) 3/
Clark County Bancorporation, Inc., Winchester, Kentucky,
notification of intent to engage in de novo activities
(acting as agent or broker for the sale of life, accident and health, property and casualty insurance which
are directly related to extensions of credit by its
bank subsidiary and in the sale of any insurance to
the company's banking subsidiary) such activities will
be conducted on the premises of the subsidiary bank,
Clark County Bank, Winchester, Kentucky (2/5/79) 3/
Mellon National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(general consumer finance activities~ljicluding acting
as insurance agent with respect to the sale of credit
life insurance, credit accident and health insurance,
and credit property insurance) at 6115 Hollywood Blvd.
#1, Hollywood, Florida, through its wholly-cwned subsidiary, Freedom Financial Services Corporation (2/8/79)

1/

Mercantile Bankshares Corporation, Baltimore, Maryland,
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 such as would be made by a mortgage company) at
300 North Frederick Road, Gaithersburg, Maryland,
through its subsidiary, Mercantile Mortgage Corporation (2/5/79) 3/
1st State Corporation, Chicago, Illinois, notification
of intent to engage in de novo activities (making or
acquiring, for its cwn account, commercial loans and
other commercial extensions of credit including
secured and unsecured loans to individuals, corporations and partnerships, for business purposes only
such as would be made by a commercial bank, and
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1979 No. 6

- 13 APPLICATIONS HEXSiyED-Continued

leasing of automobiles to industry, banks and others,
where at the inception of the initial lease the effect
of the transaction will yield a return that will
compensate the lessor for not less than the lessor's
full investment in the property plus the estimated
total cost of financing the automobiles over the term
of the lease, and such leases shall contain such other
terms and conditions as shall obnply with Section
225.4 (a) (6) (a) of Regulation Y issued by the Board of
Governors of the Federal Reserve System) at 4646 North
Cumberland Avenue, Chicago, Illinois (2/6/79) 3/
Michigan National Corporation, Blocmfield, Michigan, notification of intent to engage in de novo activities
(acting as investment or financial adviser to the
extent of (i) serving as investment adviser, as
defined in Section 2(a) (20) of the Investment Company
Act of 1940, to an investment conpany registered under
the Act; (ii) providing portfolio investment advice to
any other person? (iii) furnishing general economic
information and advice, general economic statistical
forecasting services and industry studies) at 1400
West Fourteen Mile Road, Clawson, Michigan, through a
subsidiary, Michigan National Investment Corporation
(2/7/79)3/
Walter E. Heller International Corporation, Chicago,
Illinois, notification of intent to engage in de novo
activities (to engage in commercial finance, factoring
activities) at Bassetttowers,303 Texas Street, El
Paso, Texas, through its subsidiary, Texas Western
Financial Corporation (2/9/79) 3/
Fidelity Bankshares, Inc., Topeka, Kansas, notification
of intent to engage in de novo activities (the sale of
credit life insurance, credit accident and health insurance and other insurance directly related to extensions of credit by Fidelity State Bank and Trust
Company, Topeka, Kansas, including, but not limited
to, fire arid casualty insurance covering residences,
automobiles, boats, inventory, equipment and other
property pledged to such bank to secure loans or lines
of credit) at 600 Kansas Avenue, Topeka, Kansas (2/9/79)
. 1/
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




I

APPLICATIONS KECEIVED-GDntinued
First Newton Bankshares, Inc., Topeka, Kansas, notification of intent to engage in de novo activities (the
sale of credit life insurance, credit accident and
health insurance and other insurance directly related
to extensions of credit by The First Bank, Newton,
Kansas, including, but not limited to, fire and casualty
insurance covering residences, automobiles, boats,
inventory, equipment and other property pledged to
such bank to secure loans or lines of credit) at 128
East Broadway, Newton, Kansas (2/9/79) 3/
Lyons Bankshares, Inc., Tqpeka, Kansas, notification
of intent to engage in de novo activities (the sale of
credit life insurance, credit accident and health
insurance and other insurance directly related to
extensions of credit by The Chandler Bank of Lyons,
Lyons, Kansas, including, but not limited to, fire and
casualty insurance covering residences, automobiles,
boats, inventory, equipment and other property pledged
to such bank to secure loans or lines of credit) at
201 East Avenue South, Lyons, Kansas (2/9/79) 3/
Crocker National Corporation, San Francisco, California,
for approval to acquire the shares of Bishop Investment Corporation, Honolulu, Hawaii, indirectly acquire
the shares of Bishop Trust Company Ltd., Bishop
Building Co., Inc., Miles Crossing, Ltd. and Hawaii
Finance Company, Limited, and indirectly acquire an
interest in the Kambku Development Company.
Patagonia Corporation, /fticson, Arizona, notification of
intent to engage in de novo activities (originating
residential mortgages for sale to permanent investors)
at 3101 West Peoria Avenue, Phoenix, Arizona and 5100
N. Oracle Road, Tucson, Arizona, through its subsidiary, Western American Mortgage Conpany (2/1/79) 3/
Zions Utah Bancorporation, Salt Lake City, Utah, notification of intent to engage in de novo activities
(the origination and acquisition of mortgage loans,
including development and construction loans on multifamily and commercial properties for its own account
or for the sale to others, the siervicing of such loans
, for others; and acting as agent or broker for the sale
of credit related life, accident and health insurance)
in the vicinity of 614 East Center Street, Midvale,
Utah, through its subsidiary, Zions Mortgage Conpany
(1/31/79) 3/
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2, 1979 No. 6




-15REPORTS RECEIVED

Registration Statement Filed Pursuant to Section
12(g) of the Securities Exchange Act
Heritage Bank and Trust, Norfolk, Virginia (Amendment
#1)

* * * * *

Current Report Filed Pursuant to Section 13 of the
Securities Exchange Act
The City Bank Company, Lorain, Ohio.
*

* * * *

Ownership Statement Filed Pursuant to Section 13(d)
of the Securities Exchange Act
First Commercial Bank, Arlington, Virginia.
(Filed by Paul E. Emerson dated 1-31-79)
*

* * * *

PETITIONS FOR RULEMAKING

None.