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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2 1972 No. 7 Applications and Reports Received or Acted on During the Week Ending February 12, 1972 District 12 Date Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Received United California Bank, Los Angeles, California (January 1972) 2- 9-72 * * * * * Proxy Statement (Special Meeting) Filed Pursuant to Section 14(a) of the Securities Exchange Act Received Commerce Union Bank, Nashville, Tennessee 6 * * * * * 5 To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved Citizens Bank of Schoolfield, Danville, Virginia * * * * * 6 10 Correction To Withdraw from Membership in the Federal Reserve System Without a Six Month Notice as Prescribed by Section 9 of the Federal Reserve Act Received Monroe County Bank, Sweetwater, Tennessee United Bank of Pueblo, Pueblo, Colorado 2- 7-72 H. 2 1972 No. 7 6 10 -2Approved *Monroe County Bank, Sweetwater, Tennessee *United Bank of Pueblo, Pueblo, Colorado * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received Broadway Bank & Trust Company, Paterson, New Jersey,, Branch to be established at the corner of Market and Clark Streets, Paterson, New Jersey. Gaylord State Bank, Gaylord, Michigan. Branch to be established at 719 West Main Street, Gaylord, Michigan. The Roscommon State Bank, Roscommon, Michigan. Branch to be established at 1979 East Miller Road, Fairview, Michigan. The Yellowstone Bank, Laurel, Montana. Branch to be established drive-up/walk-up facility. * * * * * 11 To Carry Reduced Reserves Pursuant to Section 19 of the Federal Reserve Act Received Braes Bayou National Bank, Houston, Texas * * * * * 7 To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act Received Harris Trust and Savings Bank, Chicago, Illinois. Branch to be established in Nassau, Bahamas. * Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. Approved Irving Trust Company, New York, New York. Branch to be established in Frankfurt, Germany. -k k k -k "k Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country Received Chemical Bank, New York, New York. Branch to be established in Paris, France. k k kk-k 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 First Wisconsin Bankshares Corporation, Milwaukee, Wisconsin, to organize a corporation to be known as First Wisconsin International Bank, New York, New York. k k "k k -k To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Approved Citizens Bank of Schooifield, Danville, Virginia, for prior approval to merge with Schooifield Bank & Trust Company, Danville, Virginia, under the charter of the former and name of the latter. H. 2 1972 No. 10 10 6 12 -4To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received L & L Holding Company, Fort Collins, Colorado, for prior approval to acquire 16,875 shares of Rocky Mountain Bank and Trust Company, Fort Collins, Colorado. Western Bancshares, Inc. , Stockton, Kansas, for prior approval to retain 89.5 per cent or more of the voting shares of Rooks County State Bank, Woodston, Kansas. Approved First National Bankshares of Florida, Inc., Pompano Beach, Florida, for prior approval to acquire 90 per cent or more of the voting shares of First National Bank of Pompano Beach, Pompano Beach; First National Bank of North Broward County, Lighthouse Point; First National Bank of Margate, Margate; and Beach First National Bank of Pompano Beach, Pompano Beach; all in the State of Florida. Banque Nationale de Paris, Paris, France, for prior approval to acquire French Bank of California, San Francisco, California, a proposed new bank. * 2 5 6 * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received United Jersey Banks, Hackensack, New Jersey, for prior approval to acquire up to 100 per cent of the voting shares of Madison State Bank, Madison Township, New Jersey. **First Virginia Bankshares Corporation, Arlington, Virginia, for prior approval to acquire 100 per cent of the voting shares of First Bank & Trust Company, Roanoke, Virginia, a proposed new bank. Charter Bankshares Corporation, Jacksonville, Florida, for prior approval to acquire 80 per cent or more of the voting shares of The First State Bank in St. Petersburg, St. Petersburg, Florida. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 2-11-72 H.2 1972 No. 7 7 7 -5Received Continued Marshall & Ilsley Corporation, Milwaukee, Wisconsin, for prior approval to acquire 90 per cent or more of the voting shares of Bank of Watertown, Watertown, Wisconsin. Valley Bancorporation, Appleton, Wisconsin, for prior approval to acquire 80 per cent or more of the voting shares of Bank of Casco, Casco, Wisconsin. 11 American General Insurance Company and Texas Commerce Bancshares, both of Houston, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Airline Bank, Houston, Texas. 11 American General Insurance Company and Texas Commerce Bancshares, both of Houston, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Reagan State Bank of Houston, Houston, Texas. 11 Capital National Corporation, Houston, Texas, for prior approval to acquire 16,667 of the voting shares of Northwest National Bank, Houston, Texas. 2 Approved Midlantic Banks Inc., Newark, New Jersey, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Madison National Bank, Madison, New Jersey. 4 First Banc Group of Ohio, Inc. , Columbus, Ohio, for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Clermont National Bank, Milford, Ohio. 5 First Virginia Bankshares Corporation, Arlington, Virginia, for prior approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by merger to Schoolfield Bank & Trust Company, Danville, Virginia. Associated Bank Services, Inc., Green Bay, Wisconsin, for prior approval to acquire 80 per cent or more of the voting shares of Neenah West National Bank, Neenah, Wisconsin. H.2 1972 No. 7 "6" Approved Continued First Tulsa Bancorporation, Inc., Tulsa, Oklahoma, for prior approval to acquire 14.5 per cent of the voting shares of Southeastern State Bank, Tulsa, Oklahoma. 10 11 Bank Securities Inc., Alamogordo, New Mexico, for prior approval to acquire 60 per cent or more of the voting shares of The First National Bank of Portales, Portales, New Mexico. Denied Associated Bank Services, Inc., Green Bay, Wisconsin, for prior approval to acquire 80 per cent or more of the voting shares of American National Bank of Green Bay, Green Bay, Wisconsin. 7 * * * * * * 1 4 To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **First National Boston Corporation, Boston, Massachusetts, notification of intent to engage de novo in the following activity (leasing personal property, in particular ships and vessels; ordering construction of such vessels, and advancing funds for acquiring and chartering such property) through newly formed subsidiaries, MFC-Boston Tankers Inc. II, MFC-Boston Tankers Inc. IV, MFC-Boston Tankers Inc. VI, MFC-Boston Tankers Inc. VIII, MFC-Boston Tankers Inc. X, MFC-Boston Tankers Inc. XII and Massachusetts Tankers Inc. , all located in Boston, Massachusetts. **Pittsburgh National Corporation, Pittsburgh, Pennsylvania, notification of intent to engage in a (te novo activity (entry into mortgage banking which includes making and selling of mortgages for its own account and the accounts of others) through a subsidiary to be known as Pittsburgh National Mortgage Corporation, Pittsburgh, Pennsylvania. * ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 2-7-72 2-11-72 H.2 1972 No. 7 6 7 -7Received Continued **First National Holding Corp., Atlanta, Georgia, . notification of intent to engage in a de novo activity (acting as insurance agent or broker in offices at which the holding company or its subsidiaries are otherwise engaged in business (or in an office adjacent thereto) with respect to the following types of insurance: (i) any insurance for the holding company and its subsidiaries; (ii) any insurance that (a) is directly related to an extension of credit by a bank or a bankrelated firm of the kind described in Regulation Y, or (b) is directly related to the provision of other financial services by a bank or such a bankrelated firm, or (c) is otherwise sold as a matter of convenience to the purchaser, so long as the premium income from sales within this subdivision (ii)(c) does not constitute a significant portion of the aggregate insurance premium income of the holding company from insurance sold pursuant to this subdivision (ii) ; (iii) any insurance sold in a community that (a) has a population not exceeding 5,000 , or (b) the holding company demonstrates has inadequate insurance agency facilities) through the Insurance Department of Tharpe & Brooks Incorporated and its registered trade style, First South Insurance Agency. Such activities are to be conducted in Atlanta and Columbus, Georgia. Midland Mortgage Corporation, Detroit, Michigan, for prior approval to continue to engage in the business of a mortgage company. 10 Fourth Financial Corporation, Wichita, Kansas, for prior approval to retain all of the shares of Fourth Financial Insurance Company, Phoenix, Arizona. 10 L & L Holding Company, Fort Collins, Colorado, for prior approval to acquire W & W Insurance Agency, Fort Collins, Colorado. 10 Denied First Tulsa Bancorporation, Inc., Tulsa, Oklahoma, for prior approval to acquire the voting shares of Hall Investment Company, Tulsa, Oklahoma. * *Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 2-7-72 H.2 19 72 No. 7 5 -8- Permitted** First Piedmont Corporation, Greenville, South Carolina, to engage in a d£ novo activity (making or acquiring for its own account or for the account of others, mortgage loans, servicing loans and acting as advisor to an as yet unorganized real estate investment trust) in Greenville, South Carolina, through a subsidiary known as First Piedmont Mortgage Company Inc., Greenville, South Carolina. 2-10-72 6 Citizens and Southern Holding Company, Atlanta, Georgia, to establish an office in Miami, Florida, for its subsidiary, Citizens and Southern Investment Counseling, Incorporated, Atlanta, Georgia, through which it will engage in de_ novo activities (acting generally as an investment and financial advisor for individual business entities and trusts including (i) serving as the investment advisor for a mortgage or real estate investment trust and (ii) furnishing economic or financial information) . 7 Hawkey e Ban corporation, Red Oak, Iowa, to shift certain 2-7-72 activities heretofore engaged in de novo by its subsidiary Burlington Bank and Trust Company, Burlington,Iowa (providing bookkeeping or data processing services for the internal operations of the holding company and its subsidiaries and storing and processing other banking, financial or related economic data, such as performing payroll, accounts receivable or payable, or billing services) to Hawk eye Ban corporation Computer Services, Inc., Cedar Rapids, Iowa, a wholly-owned subsidiary of Hawkeye Bancorporation. These activities will be performed in Cedar Rapids, Clinton, Burlington, Red Oak, Elliott, Pella, Rock Rapids, Glenwood, Silver City and Des Moines, all in Iowa. 7 Inland Financial Corporation, Milwaukee, Wisconsin, to continue to engage in activities previously commenced de novo (leasing personal property and equipment or acting as agent, broker or adviser in leasing of such property) through a subsidiary known as Inland Leasing Corporation, Milwaukee, Wisconsin. * ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 2-9-72 2-7-72 # H. 2 1972 No. 7 4 7 10 -9To Expand a Bank Holding Company Pursuant to Section 4(c) (12) of the Bank Holding Company Act of 1956 Received** American Financial Corporation, Cincinnati, Ohio, notification of intent to acquire Medema Building Corporation, Denver, Colorado, and Medema Homes, Inc., Denver, Colorado. Delayed** International Bank, Washington, D.C., to acquire all of the stock of Marion Malleable Iron Works, Inc., Marion, Indiana (a corporation engaged in the manufacture of malleable and pearlitic malleable castings for use in various types of vehicles and equipment) through its subsidiary, International General Industries, Inc. , Washington, B.C. Permitted** On H.2 No..6 the Board reported receipt of a notification from Otoe County Co., Omaha, Nebraska, of intent to acquire approximately 29 7 acres of farmland and intent to engage in a cow-calf operation. The Federal Reserve Bank of Kansas City permitted acceleration of the 45-day period. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 2-8-72 2-9-72 2-7-72
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