Full text of H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received : February 17, 1979

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e
ANNOUNCEMENT BY
b o a r d o f Gayia^NORS
O F THL:<

FEDERAL RESERVE SYSTEM
(H.2, 1979 No. 7)
Actions of the Board; Applications and Reports
Received During the Week Ending February 17, 1979
ACTIONS OF THE BOARD
Regulation K, international banking operations, the Board
proposed amendments to its regulations governing corporations engaged in international banking and financial
operations, known as Edge Corporations; the Board
asked for comment on its proposals by April 15, 1979.
(Docket No. R-0204)
Regulations M and D, the Board transfers provisions of its
regulations regarding reserve requirements for foreign
branches of member banks frcm Regulation M to Regulation
D; the transfer is being done as part of the Board's
revision of its international banking regulations.
(Docket No. R-0205)
Regulation Z, right of rescission, the Board proposed
suspension of a recent amendment to its Regulation Z
concerning the "cooling off" period for consumers who
pledge their heme as security for open end credit
arrangements; the Board requested comment by April 16,
1979. (Docket No. R-0202)
Regulation V, Loan guarantees for defense production,
revision of the entire regulation. (Docket No. R-0201)
Union Bancorporation, Inc., Oklahoma City, Oklahoma, extension of time to May 17, 1979, within which to consummate the acquisition of Union Bank and Trust Company,
Oklahoma City, Oklahoma. 1/
Alaska Pacific Bank, Anchorage, Alaska, proposed merger
with Alaska Interim Bank, Anchorage, Alaska, report to
the Federal Deposit Insurance Corporation on competitive
factors. 1/
1st Bank of Clermont County, N.A., Bethel, Ohio, proposed
merger' with First National Bank of Clermont County,
Bethel, Ohio; report to the Comptroller of the Currency ,
on competitive factors. 1/
* ^,
17 Application prceesse: a:
authority.




of the Boa re2 of Governors un3er delegated

H.2, 1979 No. 7

-2ACTIONS OF TI15 BOARD-Continued

To Establish a Domestic Branch Pursuant to Section 9
of the Federal Reserve Act
Approved
The Orrville Savings Bank, Orrville, Ohio. Branch to be
established at the southwest corner of High Street and
Maple Street, Orrville, Wayne County. 1/ & 2/
Piedmont Trust Bank, Collinsville, Virginia. Branch to
be established at 300 Franklin Street, Martinsville. 1/
& 2/
The Bank of Eden, Eden, North Carolina. Branch to be established in the Eden Plaza Shopping Center at the
intersection of State Routes 770 and 135, Eden. 1/ & 2/
* * * * *

To Bcccme a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Approved
Western Bank of Cody, Cody, Wyoming. 1/ & 2/
* * * * *

To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
A? proved
The Chase Manhattan Bank, N.A., New York, New York:
permission to establish a branch in Asuncion, Paraguay.
Citizens Fidelity Bank & Trust Company, Louisville,
Kentucky: permission to establish a branch in George
Town, Grand Cayman, British West Indies.
17 Ap^TcaOEir|^oce:.;sed on bclialf of the Board of Governors under delegated
authority.
2/ ^plication subject to Cannunity Reinvestment Act.




#
H.2, 1979 No. 7




- 3 ACTIONS OF THE BQARD-Continued
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
The First National Bank of Boston, Boston, Massachusetts:
consent to make a loan to Banco de Reservas, Santo
Domingo, Dominican Republic, to finance Reservas1 purchase of approximately 31 per cent of the shares of
Banco de Boston Dcminicano, Santo Domingo, Dominican
Republic.
Chase Manhattan Overseas Banking Corporation, Newark,
Delaware: consent to continue to hold all the shares
of Chase Manhattan, S.A. (Paris Bank) , Paris, France.
Chase Manhattan Overseas Banking Corporation, Newark,
Delaware: consent to purchase and hold, directly or
indirectly, 45 per cent of the shares of Chase National
Bank (Egypt) S.A.E., Cairo, Egypt, which are held by
Chase Manhattan Bank, N.A., New York, New York.
Citibank, N.A., New York, New York: consent for Citicorp,
New York, New York, to purchase and hold, directly or
indirectly, all of the outstanding shares of Citicorp
Overseas Finance Corporation Limited, British Virgin
Islands.

Morgan Guaranty International Finance Corporation, New
York, New York: consent to purchase and hold, directly
or indirectly, all the shares of Morgan Guaranty
Limited.
Pittsburgh International Finance Corporation, Pittsburgh,
Pennsylvania: consent to purchase and hold, directly
or indirectly, an additional 30 per cent of the cannon
stock of Seldon & Associates Pty., Limited, Sydney,
Australia.

I

— 4 —

H.2, 1979 No. '7

ACTIONS OF THE BQARD-Continued
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Approved
Marsh Investments, N.V., Curacao, Netherlands Antilles;
Marsh Investments, B.V., Rotterdam, The Netherlands;
and M.F.G. Investments, Inc., Hialeah, Florida, for
approval to acquire 80 per cent of. the voting shares
of First National Bank of Greater Miami, Hialeah,
Florida. 2/
SG Bancshares, Inc., Okeene, Oklahoma, for approval to
acquire 80 per cent or more (less directors1 qualifying
shares) of the voting shares of State Guaranty Bank,
Okeene, Oklahoma. 1/ & 2/
First National Bancshares, Inc., Plainview, Texas, for
approval to acquire at least 80 per cent of the voting
shares of First National Bank of Plainview, Plainview,
Texas. 1/ & 2/
Dismissed
Credit and Commerce American Holdings, N.V.,
Antilles, and Credit and Commerce American
B.V., Netherlands, for approval to acquire
per cent of the voting shares of Financial
Bankshares, Inc., Washington, D.C. 2/

Netherlands
Investments,
up to 100
General

Denied
First State Bancorporation, Fredericksburg, Icwa, for
approval to acquire 83.73 per cent of the voting
shares of First State Bank, Fredericksburg, Icwa. 2/
*

*

*

*

*

To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Approved
First National Corporation, Appleton, Wisconsin, for
approval to acquire not less than 70 per cent of the
voting shares of The Oshkosh National Bank, Oshkosh,
Wisconsin. 2/
17 Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act.



- 5 ~

H.2, 1979 No. 7

ACTIONS OF THE BQARD-Continued
American State Financial Corporation, Lubbock, Texas, for
approval to acquire 100 per cent (less directors1
qualifying shares) of the voting shares of Liberty
State Bank, Lubbock, Texas, a proposed new bank. 1/ &
2/
I
Texas American Bancshares, Inc., Fort Worth, Texas, for
approval to acquire 100 per cent of the voting shares
of the successor by merger to The Citizens National
Bank of Denison, Denison, Texas. 2/
*

*

*

*

*

To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Withdrawn
First National State Bancorporation, Newark, New Jersey,
notification of intent to engage in de novo activities
(acting as an insurance agent or broker for any other
insurance that is directly related to the provision of
other financial services by a subsidiary bank or a
bank related firm) at 550 Broad Street, Newark, New
Jersey, through its subsidiary, Broad & Lonbardy
Associates, Inc. (2/15/79) 3/
Returned
Michigan National Corporation, Bloomficld Hills, 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 company registered under that
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 its subsidiary,
Michigan National Investments Corporation (2/13/79) 3/
17 Application processed on behalf of the Board of Governors under delegated
authority.
2/ 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.



H.2, 1979 No. 7

—

6

—

ACTIONS OF THE BQARD-Ccntinued
Delayed
Citicorp, New York, New York, notification of intent to
engage in de novo activities (acting as agent or
broker for the sale of property and casualty insurance
which is directly related to an extension of credit or
the provision of other financial services by Advance
Mortgage Corporation, generally with regard to mobile
hones and one-to-four family residences, and to include
liability coverage in homeowner "package" policies
where such is the general practice) at 9247 North
Meridian Street, Indianapolis, Indiana, through its
subsidiary, Advance Insurance Agency, Inc. at offices
of Advance Mortgage Corporation in Tcwson, Maryland (2
offices) and Severna Park, Maryland which were Received
on H.2 No. 1, 1979; in Springfield, Hillside and
Waukegan, Illinois which were Received cn H.2 No. 4,
1979; and Merrillville and Indianapolis, Indiana which
were Received on H.2 No. 4, 1979 (2/14/79) 3/
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities
(arranging, making or acquiring for its own account or
for the account of others, loans and other extensions
of credit secured by second mortgages on residential
real property such as would be made by a consumer
finance company; securing such loans and other extensions
of credit for any persons; and acting as an agent or
broker for the sale of credit life insurance which is
related to such loans and extensions of credit made,
acquired or serviced by The Financial Source, Inc. of
New Jersey) at Route 202, Flemington, New Jersey and
19 Scott Street, Riverside, New Jersey, through its
subsidiary, Ritter Financial Corporation (2/16/79) 3/
Financial Services Corporation of the Midwest, Rock
Island, Illinois, notification of intent to engage in
de novo activities (making consumer installment personal loans, purchasing consumer installment sales
finance contracts; and acting as agent for the sale of
consumer credit related life, accident and health and
casualty insurance in connection with extensions of
credit for said office) at 2117 South Main Street,
Morton, Illinois, through its subsidiary, The Money
Shops, Inc. (2/16/79) 3/
3/

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




H.2, 1979 No. 7

- 7
ACTIONS OF THE BOARD-Continued
First Chicago Corporation, Chicago, Illinois, 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 secured
by real estate mortgages and servicing such loans and
other extensions of credit) at 1101 17th Street, N.W.,
Washington, D.C., through its subsidiary, First Chicago
Realty Services Corporation (2/16/79) 3/
First Chicago Corporation, Chicago, Illinois, 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 secured
by real estate mortgages and servicing such loans and
other extens ions of credit) at 11 nilam Building,
Houston, Texas, through its subsidiary, First Chicago
Realty Services Corporation (2/16/79) 3/
Reactivated
First National State Bancorporation, Newark, New Jersey,
notification of intent to engage in de novo activities
(acting as an insurance agent or broker for any other
insurance that is directly related to an extension of
credit by a subsidiary bank or a bank related firm) at
550 Broad Street, Newark, New Jersey, through its subsidiary, Broad and Lcmbardy Associates, Inc. (2/14/79)
3/
Permitted
First National State Bancorporation, Newark, New Jersey,
notification of intent to engage in de novo activities
(acting as an insurance agent or broker for any other
insurance that is directly related to an extension of
credit by a subsidiary bank or a bank related firm) at
550 Broad Street, Newark, New Jersey, through its
subsidiary, Broad & Lcmbardy Associates, Inc. (2/15/79)
3/
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in do novo activities
(arranging, 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 consumer finance
company under a revolving loan plan, secured or un~

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




ACTIONS OF THE BQARD-Ccntinued
secured, including loans under a revolving loan agreement secured by mortgages or deeds of trust on real
property and/or security loans and other extensions of
credit for any person; acting as agent or broker for
the sale of credit life insurance which is related to
extensions of credit made, acquired or serviced by The
Financial Source, Incorporated of Virginia; and reinsurance, through Hitter Life Insurance Company, of
credit life insurance which is related to extensions
of credit made, acquired or serviced by The Financial
Source, Incorporated of Virginia) at 128 W. Hicks
Street, Lawrenceville, Virginia, through its subsidiary,
Hitter Financial Corporation (2/17/79) 3/
Manufacturers Hanover Corporation, 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, loans and other extensions of
credit as would be made by a finance company; making
or acquiring, for its cwn account or for the account
of others, loans and other extensions of credit such
as would be irade by a sales finance company including
purchasing installment sales finance contracts; servicing any such loans and other extensions of credit
for any person; and acting as agent or broker for the
sale of credit related life and accident and health
insurance which is related to extensions of credit
made and acquired by, and property damage and liability
insurance insuring collateral securing direct extensions of credit by Hitter Finance Company, Inc., of
South Carolina) at Highway 123, Store #2, Clemson,
South Carolina, through its subsidiary, Bitter Finance
Company, Inc. of South Carolina (2/12/79) 3/
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities
(acting as an agent or broker for the sale of property
damage and liability insurance which is related to
loans and other extensions of credit such as would be
made by a sales finance company including the purchase
of sales finance contracts, acquired or serviced by
Hitter Finance Company, Incorporated of Virginia) at
105A North Main Street, Farmville, 518 Culpeper Shopping
Center, Culpeper and Houto 501, Brookneal, all in
Virginia, through its subsidiary, Hitter Finance
Company, Incorporated of Virginia (2/12/79) 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. 7

- 9 ACTIONS CF HIE BQARD-Ccntinued
Philadelphia National Corporation, Philadelphia, Pennsylvania , notification of intent to engage in de novo
activities (engaging in the factoring and carmercial
finance business, specifically the purchase of accounts receivable and the making of loans secured by
accounts receivable, inventory, machinery and equipment) at 3440 Wilshire Boulevard, Los Angeles, California, through its existing direct and indirect subsidiaries, Congress Factors Corporation and Congress
Financial Corporation (2/16/79) 3/
Mercantile Bancorporation Inc., St. Louis, Missouri, notification of intent to relocate de novo activities
(to continue to engage in making, acquiring or servicing loans or Other extensions of credit for personal, family or household purposes; and insurance
agency or brokerage in connection with selling to
consumer finance borrowers, credit life, credit accident and health insurance and property damage insurance for collateral securing such loans) frcm 12054
Lake City Way, N.E., Seattle, Washington to Space 1,
19940 Ballinger Road, N.E., Seattle, Washington,
through its wholly-owned subsidiary, Franklin Finance
Company (2/17/79) 3/

Wells Fargo & Company, San Francisco, California, notification of intent to engage in de novo activities
(acting as an insurance agent or broker for the sale
of property damage car casualty insurance, together
with associated liability insurance, all of which is
related to extensions of credit made by the banking
or nonbanking subsidiaries of Wells Fargo & Company,
to the extent permissible under applicable State
insurance laws or regulations) at 6900 E. Camelback
Road, Scottsdale, Arizona, through its subsidiary,
Wells Fargo Insurance Services (2/13/79) 3/
* * * * *

Tb Expand a Bank Holding Carpany Pursuant to Section
4(c) (12) of the Bank Holding Company Act of 1956
Withdrawn
Lumbermans Mutual Casualty Company, Lcng Grove, Illinois,
and its subsidiary, Kemper Corporation, Lcng Grove,
Illinois, notification of intent to acquire indirectly
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. 7

- 1 0 -

ACTICNS OF THE BQARD-Ccntinued
100 per cent of the outstanding commbn stock of Vocational Placement Services, Inc., Richmond, Virginia,
through its wholly-owned subsidiary, National Loss
Control Service Corporation (2/6/79) 3/
Permitted
Kemper Corporation, Long Grove, Illinois, notification
of intent to acquire 50 per cent of the outstanding
common stock of Investors Fiduciary Trust Company, a
Missouri limited purpose trust company, through its
wholly-owned subsidiary, Kenper Financial Services,
Inc. (2/12/79) 3/

37

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




H.2, 1979 No. 7

- 11 APPLICATIONS RECEIVED
To Establish a Dcmestic Branch Pursuant to Section
9 of the Federal Reserve Act
The Connecticut Bank and Trust Ccnpany, Hartford,
Connecticut. Branch to be established in Plainvilie.

1/

Seabrook Bank and Trust Ccnpany, Seabrook, New Hampshire.
Branch to be established in Seabrook Beach. 2/
Central Bank of Northern Virginia, Bailey's Crossroads,
Virginia. Branch to be established at 8536 Leesburg
Pike, Vienna, Fairfax Ccunty. 2/
Bank of Virginia, Richmond, Virginia. Branch to be
established at 4900 Millridge Parkway, East, Midlothian,
Chesterfield County. 2/
*

*

*

*

*

To Marge Pursuant to Section 18 (c) of the Federal
Deposit Insurance Act
Commercial Trust Ccnpany of New Jersey, Jersey City,
New Jersey, to merge Community State Bank and Trust
Ccnpany, Linden, Union County, New Jersey.
*

*

*

*

*

lb Form a Bank Holding Corpany Pursuant to Section
3(a) (1) of the Bank Holding Corpany Act of 1956
SW3 Financial Enterprises, Inc., Morris town, Tennessee,
for approval to acquire 100 per cent of the voting
shares of Hamilton Bank of Morristown,Morristown,
Tennessee. 2/
Citizens Bancgroup & Co., St. Arm, Missouri, for approval
to acquire 88.4 per cent of the voting shares of
Citizens National Bank of Greater St. Louis, Maplewood, Missouri. 2/
2j Application subject to Camunity Reinvestment Act.



H.2, 1979 No. 7

12 -

APPLICATIONS I < inCTVED-Ccn ti nucxl
Peoples of Indianola, Inc., Indianola, Mississippi, for
approval to acquire 80 per cent or more of the voting
shares (except directors' qualifying shares) of Peoples
Bank of Indianola, Indianola, Mississippi. 2/
First Bankshares of Wyoming, Cheyenne, Wyoming, for approval to acquire 80 per cent or more of the voting
shares of The First National Bank and Trust Company of
Wyoming, Cheyenne, Wyoming, First National Bank in
Wheatland, Wheatland, Wyoming, and Wyoming State Bank,
Cheyenne, Wyoming. 2/
Los Hacendados, Inc., Clayton, New Mexico, for approval
to acquire 80 per cent or more of the voting shares of
First National Bank in Clayton, Clayton, New Mexico.
2/
Inwood Bancshares, Inc., Dallas, Texas, for approval to
acquire 80-100 per cent of the voting shares of Inwood
National Bank of Dallas, Dallas, Texas. 2/
*

* * * *

To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Michigan National Corporation, Bloomfield Hills, Michigan,
for approval to acquire 100 per cent of the voting
shares (less directors' qualifying shares) of Michigan
National Bank - Ann Arbor, Ann Arbor, Michigan, a proposed new bank. 2/
Missouri Country Bancshares, Inc., Liberal, Missouri,
for approval to acquire 56.77 per cent of the voting
shares of Bank of Raymondville, Raymondvi 1 le, Missouri.
2/
*

*

*

*

*

To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1955
European American Bancorp, New York, New York, notification of intent to engage in de novo activities (interbank Eurocurrency and Eurodollar placements and deposits
27 Application subject to Ccmminity Reinvestment Act.



-H.2, 1979 No. 7

-13APPLICATIONS RECEIVTI)-Continued
covrfercial Eurocurrency and Eurodollar loans; and
foreign exchange transactions) at 33 Boulevard Prince
Henri, Luxembourg, Grand Duchy of Luxemburg, through
its subside:
European American linking Cor^x*;}ati.on
(2/13/79) 3/ '
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in do novo
activities (the making of personal installment loans
secured by mortgages on the borrowers1 rcnl estate and
generally engaging in the business of r consumer
finance company in the States of Pennsylvania, New
Jersey and Delaware) at 7320 York Road, fleli osc Park,
Pennsylvania, tlirough its indirect subsidiary, Colonial
Mortgage Consumer Discount Company (2/5/79) 3/
F.N.B. Corporation, Sharon, Pennsylvania, for approval
to purchase the assets and assume the liabilities of
TKY-M Consumer Discount Ccmpany, Warren, Pennsylvania.

Colonial American Bankshares Corporation, Roanoke,
Virginia, notification of intent to engage in de novo
activities (making, acquiring, and servicing loans for
its cwn account or the account of others, loans secured
primarily by second mortgages on real property; and
acting as agent in the sale of credit life insurance
and credit accident and health insurance in connection
with such loans) at 5298 Fairfield Shopping Center,
Providence and Kempsville Road, Virginia Beach, Virginia
and 4551 Professional Circle, Suite 204, Virginia
Beach, Virginia, through a subsidiary, Colonial American
Mortgage Corporation (2/14/79) 3/
First Union Corporation, Charlotte, North Carolina, notification of intent to continue to engage in activities
previously carmcnccd de novo (providing )xx>kkcoping,
data processing and related managment services for the
internal operations of First Union Corporation, its
direct and indirect subsidiaries; marketing application
software products developed by First: Computer Services,
Inc., for financial applications in the internal
operations of First Unicoi Corporation, its direct and
indirect subsidiaries; storing and processing banking,
financial and related economic data for outside firms;
and making excess computer time available to outside
3/ 4(c) (8) or 4(c) (12) notification processed l?y Reseive bank on behalf
of the Board of Govi-morr u xier delegated authority.




H.2, 1979 No. 7

- 14 APPLICATIONS RECEIVED-Con timed
firms by providing the facility and necessary operating
personnel) at First Union Plaza, Charlotte; 4300 Six
Forks Road, Raleigh; 82 Patton Avenue, Asheville; 8th
and Elm Streets, Lumber ton; 122 North Elm Street,
Greensboro; all located in North Carolina, through
First Computer Services, Inc. (2/14/79) 3/
Virginia National Bankshares, Inc., Norfolk, Virginia,
notification of intent to engage in de novo activities
(making, acquiring, and servicing for its own account
or for the account of others, loans secured principally
by second mortgages on real property; and acting as an
agent in the sale of credit life insurance and accident
and health insurance in connection with such loans) at
1201 Airline Boulevard, Portsmouth, Virginia and 1003
W. Washington Street, Suffolk, Virginia, through its
subsidiary, Atlantic Credit Corporation (2/14/79) 3/
First Railroad & Banking Company of Georgia, Augusta,
Georgia, notification of intent to engage in de novo
activities (raking or acquiring, for its own account
or for the account of others, loans and other extensions of credit principally consisting of insurance
premium financing) in Charlotte, North Carolina,
through a subsidiary, CMC Group, Inc. (2/14/79) 3/
Banko, Inc., Osceola, Icwa, notification of intent to
continue to engage in de novo activities (acting as
agent or broker in the sale of credit life, health and
accident insurance incidental to extensions of credit
by its subsidiary bank) at U.S. Highway 34 West,
Osceola, Iowa, through its subsidiary, Banko Insurance
Agency (2/16/79). 3/
Midland Mortgage Corporation, Detroit, Michigan, notification of intent to engage in de novo activities
(servicing loans and other extensions of credit for
any person or entity) at 350 First National Building,
Detroit, Michigan, through a subsidiary, Midland
Mortgage Service Corporation (2/16/79) 3/
Walter E. Heller International Corporation, Chicago,
Illinois, notification of intent to engage in de novo
activities (engage in real estate mortgage lending
activities) in Bellevue, Washington, through its
subsidiary, Walter E. Heller & Carpany (2/14/79) 3/

37

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




- 15

H.2, 1979 No. 7

APPLICATIONS RECEIVED-Continued
First Arkansas Bankstock Cor juration, Little Rock, Arkansas,
notification of intent to engage in de novo activities
(making or acquiring, for its own account or for the
account of others real estate mortgage loans and servicing such loans; and acting as an insurance agent or
broker with respect to insurance that is directly related to the extensions of real estate mortgage credit;
such insurance would include mortgage redemption insurance, credit life, or other life or accident and health
insurance sold in connection with these extensions of
credit) at Suite 802, War then Bank Building, 200 West
Capitol Avenue, Little Rock, Arkansas, through a
subsidiary, FABCO Mortgage Company, Inc., Little Rock,
Arkansas (2/12/79) 3/
Mercantile Ban corporation Inc., St. Louis, Missouri, notification of intent to engage in de novo activities
(acting as agent or broker in the sale of credit life,
disability, accident and health insurance, physical
damage insurance on property used as collateral for an
extension of credit or the provision of other financial services; any insurance for Mercantile Bancorporation Inc.'s banking subsidiaries; such activities
will be conducted in offices at which Mercantile
Bancorporation Inc. or any of its subsidiaries are
otherwise engaged in business (or in an office adjacent
thereto)) at 8th and Locust Streets, St. Louis; 13th
and Olive Streets, St. Louis; 3881 Gustine, St. Louis;
1101 Walnut Street, Kansas City; 1329-21 Walnut Street,
Kansas City; 63rd and Troost, Kansas City; 3590 Lindell
Boulevard, St. Louis; Oakland and Macklind Avenue, St.
Louis; 417 St. Louis Street, Springfield; 1615 S.
Glenstone, Springfield; 3640 South Noland Road,
Independence; 3413 South Noland Road, Independence;
Highway 291 and 39th Street, Independence; Second and
Oak Streets, Washington; Highway 47 and 100, Washington;
121 East Ninth Street, Trenton; 1801 East 9th Street,
Trenton; 2885 Netherton Drive, St. Louis; 700 Brown
Road, St. Louis; 11204 Holrres Road, Kansas City; 8510
East Bannister, Kansas City; 111 West Third Street,
Sedalia; Broadway and State Fair, Sedalia; 1605 East
Broadway, Sedalia; 231 South Market, Memphis; Clayton
& Wood Mill Roads, Chesterfield; Olive Street and
Mason Read, St. Louis; Columbia at Washington, Farmington;
Second Street and Woodlawn Drive, Leading ton; 218
South Broadway, Salisbury; 317 West Main Street,
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank an behalf
of the Board of Governors under delegated authority.



H.2, 1979 NO. 7

— 16 —
APPLICATIONS i;iiCEIVED-Continued
Bavling Green; 325 North Kings Highway, Cape Girardeau;
1776 New Florissant Road, Florissant; 2300 North Kings
Highway and Kurre Lane, Cape Girardeau; Town Plaza
Stiopping Center, Cape Girardeau; First and Oak Streets,
Eldon; Rudder Road and Old U.S. 54, Eldon; 100 E. Ste.
Maries Street, Perryville; 2608 West Clay Street, St.
Owrles; 3201 Nortli Higliway 94, St. Charles; 300 South
Center Street, Shelbina; 121 East High Street, Potosi;
Hig^rvay P tcW Highway 21, Potosi; 218 Nortfi Strugtewn,
Ci%y; High Ridge Boulevard, High Ridge; Old
Cravoia Boulevard, Valley* Dell Driw, Murphy; 6Ui and
St. Joseph; 301 Cherokee Street, St. Joseph;
123 K. 2:%d Street# Willow Springs; 400 fbrket Street,
Genevieve; 408 Noitli Rollins, Mcon; Highway 63
and K*,
200 Northuast Vivion Road, Kanr^is City;
110 Grand Avenue, Doniphan; Broad and Hoi lister,
Hay lor; all in Missouri; 2117 Ponce de Leon Boulevard,
Coral Gables; 3888 Biscayne Boulevard, Miami; 1741 E.
Hi 1 Islxnrough Avenue, IVs^xi, all in Florida; 27 West
Main, Belleville; 3765-D Nameoki toad, Granite City;
704 Lincoln Highway (U.S. 50), Fairview Heights; 1497
Vandalia Street, Collinsville; all in Illinois; 816
M a n Street, Baton Rouge; 630 Bolton Avenue, Alexandria;
1214 North 18th Street, Monroe; 201 West 70th Street,
Shreveport; all in Louisiana; 5201 S. Western Avenue,
Oklahcma City; 227 East Chickasaw, McAlester; 11520
East 21st Street, Tulsa; 6213 North Meridian, Oklahoma
City; all in Oklahcma; 807A North "A" Street, Springfield; 10588 S.E. Washington Street, Portland; 1025 SE
Powell, Portland; 380 Liberty SE., Salem; 2301 West 7th
Street, Eugene; all in Oregon; 1414 Savannah Highway,
Charleston; 1941 Reynolds Avenue, Charleston Heights;
RFD #7 - 8750 Highway 52, Charleston; 342 E. 5th North
Street, Sumrerville; South Highway 52, Moncks Corner;
all in South Carolina; 12054 Lake City Way NE, Seattle;
2311 Tacoma Avenue South, Tacoma; East 102 Boone
Street, Spokane; 701 South First Street, Yakima; 20029
Highway 99 - Suite "A", Lynnwood; all in Washington;
23 East Main Street, Buckhannon; 408A Virginia Street,
West, Charleston; 408 Virginia Street, West, Charleston;
300 Carolina Avenue, Chester; Elkins Shopping Plaza,
Elkins; 3201B U.S. 60 E. and Arlington Boulevard,
Huntington; 3201A U.S. 60 E. and Arlington Boulevard,
Huntington; 302 Wilson Street, Martinsburg; 310 Fourth
Street, Parker sburg; 770 Virginia Avenue, Welch; 1111
Chapline Street, Wheeling; all in West Virginia,
through a subsidiary, MBI Insurance Co., Inc. (2/12/79)
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. 7

- 17 APPLICATIONS l^SCEIVED-Ccn tinued
Peoples of Indianola, Inc., Indianola, Mississippi, for
approval to engage in the sale of credit life and
credit accident and health insurance directly related
to extensions of credit made by Peoples Bank of Indianola,
Indianola, Mississippi.
First Pratt Bankshares, Inc., Pratt, 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 National Bank in
Pratt, Pratt, 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 223 South Main Street, Pratt, Kansas
(2/15/79) 3/
Los Hacendados, Inc., Clayton, New Mexico, for approval
to engage de novo, as agent or broker, in the sale of
property and casualty insurance which is directly related to extensions of credit originated by its subsidiary bank and in the sale of any insurance for its
banking subsidiaries.

Midland Capital Co., Oklahoma City, Oklahoma, notification of intent to engage in de novo activities (the
activity of mortgage banking which will include origination and servicing of VA, FHA and Conventional
residential mortgage loans) at 11 E. Broadway, Suite
201, Sand Springs, Oklahoma, through a subsidiary,
Midland Mortgage Co. (2/12/79) 3/
Midland Capital Co., Oklahoma City, Oklahoma, notification of intent to engage in de novo activities (mortgage banking which will include origination and servicing of VA, FHA, and Conventional residential mortgage loans) such activities will be conducted at an
additional office in San Antonio, Texas, located at
8119 Latigo Plaza, through a subsidiary, Midland
Mortgage Co. (2/12/79) 3/
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities
(leasing of real property and personal property within
the limitations now or hereafter set forth in Section
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. 7

— 18 —

APPLICATIONS RBCEIVED-Ccntinued
225.4(a) (6) (a) and (b) of Regulation Y) at 555 California
Street, San Francisco, California, through its subsidiaries, Western American Financial, Inc. and BA Facilities Leasing, Inc. (2/2/79) 3/
*

*

*

*

*

lb Expand a Bank Holding Company Pursuant to Section
4 (c) (12) of the Bank Holding Company Act of 1956
GATX Corporation, Chicago, Illinois, notification of
intent to acquire 50 per cent of the outstanding
shares of Terminales Portuarias, S.A., a Spanish
corporation, through its subsidiary, GATX Terminals
Corporation (2/14/79) 3/
*

*

*

*

*

REPORTS RECEIVED
None.
*

*

*

*

*

PETITIONS FOR RULEMAKING
None.

37 4 (c) (8) or 4 (c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.