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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1987 No. 9 Actions of the Board Applications and Reports Received During the Week Ending February 28, 1987 ACTIONS OF THE BOARD Statement by Chairman Volcker before the Senate Budget Committee concerning general considerations of domestic and international economic policies within the context of recent and prospective developments, February 24, 1987. Consumer Advisory Council to meet in the Board's Martin Building on March 19 and 20, 1987, in sessions open to the public. Request for comment by March 27, 1987, on two notices that would be used by financial institutions to notify their federal regulators of their status under the Government Securities Act of 1986 (Docket R-0596). New York Union State Bank, Nanuet, New York — proposed purchase of assets and assumption of liabilities of the South Little Tor Road Branch of Sawyer Savings Bank, Saugerties, New York -- report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Cleveland First Security Corporation, Lexington, Kentucky, and First Security Affiliates, Inc., extension to May 21, 1987, to acquire State Financial Bancshares, Inc., Richmond, Kentucky. 1/ Atlanta Citizens Southern Bancshares, Inc., Vernon, Alabama — extension to May 9, 1987, to acquire Citizens State Bank. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. -2- Atlanta FCB Corporation, Manchester, Tennessee — extension to May 21, 1987, to acquire shares of The Meltons Bank, Gassaway, Tennessee. 1/ Atlanta First Alabama Bank, Montgomery, Alabama — proposed merger with First Alabama Bank of Albertville, Albertville, Alabama — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta Whitney National Bank, New Orleans, Louisiana — proposed merger with Whitney National Bank in Jefferson Parish, Jefferson, Louisiana — report to the Comptroller of the Currency on competitive factors. 1/ Atlanta Florida Commercial Banks, Inc., Miami, Florida — extension to August 31, 1987, for Hugh F. Culverhouse to acquire additional shares. 1/ Atlanta Kisco Financial Corporation, Miami, Florida — extension to May 29, 1987, to acquire Kislak National Bank, North Miami, Florida. 1/ Chicago 1st State Corporation, Harwood Heights, Illinois — extension to May 30, 1987, to acquire Parkway Bank and Trust Company. 1/ Chicago Citizens Commercial & Savings Bank, Flint, Michigan — investment in bank premises. 1/ Chicago Central Wisconsin Bankshares, Inc., Wausau, Wisconsin -- extension to April 17, 1987, to acquire First American Investment, Incorporated, and engage in discount brokerage. 1/ Chicago The Parke State Bank, Rockville, Indiana proposed merger with Citizens State Bank, Marshall, Indiana — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago Naper Bank, N.A, Naperville, Illinois — proposed merger with F.W. Interim Bank, N.A., — report to the Comptroller of the Currency on competitive factors. 1/ 1/ Application processed on behalf of the Board of Governor under delegated authority. H.2, 1987, No. 9 3 ACTIONS OF THE BOARD - Continued Chicago Comerica Bank-Detroit, Michigan — extension to May 22, 1987, to merge with Comerica Bank-Grosse Pointe, N.A., Grosse Pointe, Michigan. 1/ Chicago Unibancorp, Inc., Chicago, Illinois — extension to April 6 , 1987, to acquire DuPage County Bank of Glendale Heights, Glendale Heights, Illinois. 1/ Chicago Citizens Bankshares, Inc., Shawano, Wisconsin — extension to May 21, 1987, to acquire the successor by merger to Citizens State Bank. 1/ Chicago 1st Source Bank, South Bend, Indiana -extension to April 15, 1987, to merge with Community State Bank, North Liberty, Indiana. 1/ Kansas City Commercial Savings Bank of Sterling, Sterling, Colorado — investment in bank premises. 1/ Dallas Rio Grande City Bancshares, Inc., Rio Grande City, Texas — extension to March 27, 1987, to acquire Floresville Bancshares, Inc., Floresville, Texas. 1/ Dallas Crockett County National Bancshares, Inc., Ozona, Texas — extension to June 2, 1987, to acqure Crockett County National Bank. 1/ San Francisco National Bank, La Jolla, California — proposed merger with National Bank of Fairbanks Ranch, San Diego, California, and First National Bank — report to the Comptroller of the Currency on competitive factors. 1/ San Francisco U.S. Bancorp, Portland, Oregon — extension to divest certain properties. 1 /* * * * * * 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 4 ACTIONS OF THE BOARD - Continued To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Approved Cleveland Fifth Third Bank of Columbus, Columbus, Ohio — to establish off-site electronic facilities at The Maijer Store, 2675 Brice Road, and The Meijer Store, 775 Georgesville Road, both in Columbus, Ohio. 1/ (2/26/87) Cleveland The New Waterford Bank, New Waterford, Ohio — to establish a branch at 7295 Market Street, Boardman, Ohio. 1/ (2/27/87) Chicago Harris Trust and Savings Bank, Chicago, Illinois — to establish a bank facility at Presidential Towers, 555 W. Madison Street, Chicago, Illinois. 1/ (2/26/87) Chicago State Bank of St. Charles, Saint Charles, Illinois — to open a branch facility in the 1400 block of East State Street (Illinois Highway 38), Geneva, Illinois. 1/ (2/24/87) St. Louis Landmark Bank of Alton (formerly MidAmerica Bank and Trust Company of Alton) Alton, Illinois — to establish a branch at Highway 162 and McDonald Drive, Troy, Illinois. 1/ (2/20/87) * * * * * To Become a Member of the Pederal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved Philadelphia The Rittenhouse Trust Company, Philadelphia, Pennsylvania. 1/ (2/27/87) Cleveland Orrville Savings Bank, Orrville, Ohio (formerly Orrville Interim Bank). 1/ (2/27/87) Richmond Coastal Virginia Bank, Virginia Beach, Virginia. 1/ (2/27/87) * * * * * 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 5 ACTIONS OP THE BOARD - Continued To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Returned Chicago Success Financial Group, Inc., Lincolnshire, Illinois — for approval to acquire 25 percent of the voting shares of Lincolnshire Bancshares, Inc., Lincolnshire, Illinois, and indirectly First National Bank of Lincolnshire, Lincolnshire, Illinois; Bellwood Bancorporation, Inc., Bellwood, Illinois, and indirectly Bank of Bellwood, Bellwood, Illinois; First National Bank of Wheaton, Wheaton, Illinois, and Peterson Bank, Chicago, Illinois. (2/26/87) Minneapolis Park Cities Bancshares, Inc., Dallas, Texas — for approval to acquire 100 percent of the voting shares of First National Bank of Park Cities, Dallas, Texas. (2/25/87) Approved Boston Livermore Bankshares, Livermore Falls, Maine — for approval to acquire 100 percent of the voting shares of Livermore Falls Trust Company, Livermore Falls, Maine. 1/ (2/27/87) Philadelphia Rittenhouse Financial Services, Inc., Philadelphia, Pennsylvania — for approval to acquire 100 percent of the voting shares of The Rittenhouse Trust Company, Philadelphia, Pennsylvania. 1/ (2/27/87) Atlanta Volunteer Bancorp, Inc., Sneedville, Tennessee -- for approval to acquire 95 percent of the voting shares of Citizens Bank of Sneedville, Sneedville, Tennessee. 1/ (2/27/87) Chicago Financial Corporation of Central Illinois, Inc., Strasburg, Illinois — for approval to acquire 100 percent of the voting shares of Strasburg State Bank, Strasburg, Illinois. 1/ (2/25/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 6 ACTIONS OP THE BOARD - Continued Chicago Rog-Lee, Incorporated, Manson, Iowa — for approval to acquire 81.40 percent of the voting shares of Manson State Bank, Manson, Iowa. 1/ (2/26/87) Minneapolis First Holding Company of Cavalier, Inc., Cavalier, North Dakota — for approval to acquire 100 percent of the voting shares of First Bank Cavalier, N . A . , Cavalier, North Dakota. 1/ (2/25/87) Minneapolis First Holding Company of Park River, Inc., Park River, North Dakota -- for approval to acquire 100 percent of the voting shares of First Bank Park River, N.A., Park River, North Dakota. 1/ (2/25/87) Minneapolis Norwest Financial, Inc., Des Moines, Iowa — for approval to acquire 100 percent of the voting shares of Dial Bank, Sioux Falls, South Dakota, a proposed new bank. 1/ (2/23/87) Minneapolis Norwest Financial Services, Inc., Des Moines, Iowa — for approval to indirectly acquire 100 percent of the voting shares of Dial Bank, Sioux Falls, South Dakota, a proposed new bank. 1/ (2/23/87) San Francisco Oregon Pacific Financial, Inc., Portland, Oregon — for approval to acquire at least 51.49 percent of the voting shares of Santiam Valley Bank, Aumsville, Oregon. (2/25/87) * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Returned St. Louis 1/ Benton Bancorp, Inc, Benton, Kentucky — for approval to acquire at least 67 percent of the voting shares of Calvert Bank, Calvert, Kentucky. (2/26/87) Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 7 ACTIONS OP THE BOARD - Continued Approved Boston Suffield Financial Corporation, Suffield, Connecticut — for approval to acquire 100 percent of the voting shares of Coastal Bancorp, Portland, Maine and indirectly Coastal Savings Bank, Portland, Maine. 1/ (2/24/87) Richmond First Union Corporation, Charlotte, North Carolina — for approval to acquire 100 percent of the voting shares of Roswell Bank, Roswell, Georgia. 1/ (2/27/87) Minneapolis Norwest Corporation, Minneapolis, Minnesota — for approval to acquire 100 percent of the voting shares of Dial Bank, Sioux Falls, South Dakota, a proposed new bank. 1/ (2/23/87) San Francisco Security Pacific Corporation, Los Angeles, California — for approval to acquire 100 percent of the voting shares of California Pacific National Bank, Los Angeles, California. 1/ (2/27/87) * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Approved Cleveland Trustcorp, Inc., Toledo, Ohio — to acquire Commercial Bankshares Corporation, Adrian, Michigan. 1/ (2/26/87) Atlanta The Colonial BancGroup, Inc., Montgomery, Alabama — for approval to merge with F&M Holding Company, Inc., Foley, Alabama and indirectly acquire Farmers and Merchants Bank, Foley, Alabama. 1/ (2/27/87) Atlanta First American Corporation, Nashville, Tennessee — for approval to merge with FPB Corporation, Gallatin, Tennessee and indirectly acquire First & Peoples National Bank of Gallatin, Gallatin, Tennessee and First & Peoples Trust Company, Gallatin, Tennessee. 1/ (2/26/97) 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 8 ACTIONS OP THE BOARD - Continued To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Withdrawn San Francisco Wells Fargo & Company, San Francisco, California — to engage de novo (providing investment advice on financial futures and options on futures) through its subsidiary, Wells Fargo Investment Advisors, San Francisco, California. The activity will be conducted in San Francisco, California. (2/27/87) Returned Chicago Illini Community Bancorp., Inc., Springfield, Illinois — to engage de novo (providing management consulting services to depository institutions) through its subsidiary. 3/ (2/23/87) Approved New York The Chase Manhattan Corporation, New York, New York — for approval to acquire all the shares of Clark Equipment Credit Corporation, Buchanan, Michigan, and thereby to engage in leasing personal property and making and servicing loans and other extensions of credit. 1/ (2/27/87) Philadelphia Rittenhouse Financial Services, Inc., Philadelphia, Pennsylvania — for approval to engage directly in investment advisory activities and through Rittenhouse Financial Securities, Incorporated, in security brokerage services. 1/ (2/27/87) Cleveland Trustcorp, Inc., Toledo, Ohio — for approval to acquire William Fall, Inc., Perrysburg, Ohio and thereby engage in appraisal services. 1/ (2/26/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1987, No. S 9 ACTIONS OF THE BOARD - Continued Atlanta Deposit Guaranty Corporation, Jackson, Mississippi; First Commerce Corporation, New Orleans, Louisiana; First Capital Corporation, Jackson, Mississippi; Hibernia Corporation, New Orleans, Louisiana and First National Financial Corporation, Vicksburg, Mississippi — for approval to acquire GulfNet, Inc., New Orleans, Louisiana and thereby engage in ATM and EFT transactions at remote facilities. 1/ (2/24/87) Minneapolis Norwest Corporation, Minneapolis, Minnesota — to engage de novo anywhere in the state of Delaware in the activities of consumer finance; sales finance; commercial finance; lease financing; the underwriting of credit life and credit accident and health insurance related to extensions of credit by Norwest or its subsidiaries; and the offering for sale and selling of bookkeeping, payroll and other management financial reporting services and data processing services. 1/ (2/23/87) Minneapolis Norwest Corporation, Minneapolis, Minnesota — to engage de novo selling credit life, disability, or involuntary unemployment insurance by Norwest Corporation or its subsidiaries which are secured by first mortgages on residential real estate. The activity will be conducted nationwide. 1/ (2/23/87) Minneapolis Norwest Financial, Inc., Des Moines, Iowa — to continue to engage in the activities of making or acquiring loans of the type made by a consumer finance company, sales finance company, commercial finance company, and factor; full payout personal and real property leasing; underwriting credit life and disability insurance on consumer loans; providing to others financially related data processing and data transmission services and data bases; or access to them. These activities would be conducted in the states of Alabama, Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 10 ACTIONS OF THE BOARD - Continued Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, and Wyoming; and to engage in servicing loans and other extensions of credit for others making, acquiring or servicing loans of the type made by a mortgage company and general insurance agency activities. These activities will be conducted nationwide. 1/ (2/23/87) Minneapolis Norwest Financial Services, Inc., Des Moines, Iowa — to continue to engage in the activities of making or acquiring loans of the type made by a consumer finance company; sales finance company; commercial finance company, and factor; full payout personal and real property leasing; underwriting credit life and disability insurance on consumer loans; providing to others financially related data processing and data transmission services and data bases; or access to them. These activities would be conducted in the states of Alabama, Alaska, Arizona, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, Wisconsin, and Wyoming; and to engage in servicing loans and other extensions of credit for others making, acquiring or servicing loans of the type made by a mortgage company and general insurance agency activities. These activities will be conducted nationwide. 1/ (2/23/87) San Francisco Security Pacific Corporation, Los Angeles, California — to acquire substantially all of the assets of Atlas Thrift of Nevada, Las Vegas, Nevada. 1/ (2/23/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 9 11 ACTIONS OF THE BOARD - Continued Permitted Cleveland Huntington Bancshares Incorporated, Columbus, Ohio — to engage de novo (underwriting home mortgage redemption insurance) through its subsidiary, Sciota Life Insurance Company, Columbus, Ohio. 3/ (2/24/87) Cleveland Huntington Bancshares Incorporated, Columbus, Ohio — to engage de novo (providing portfolio investment advice to any person; providing financial advice to state and local governments; underwriting and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state member banks are authorized to deal and underwrite) through a subsidiary, The Huntington Company, Columbus, Ohio. 3/ (2/26/87) * * * * * Redemption of Shares Chicago Anita Bancorporation, Des Moines, Iowa. (2/27/87) Kansas City The Bank Holding Company of Santa Fe, Santa Fe, New Mexico. 1/ (2/27/87) Dallas Plains Bancorp, Inc., Dimmitt, Texas. (2/23/87) 1/ 1/ * * * * * Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Approved Chicago Anita Bancorporation, Des Moines, Iowa. (2/27/87) 1/ Minneapolis D.L. Shares Limited Partnership, Detroit Lakes, Minnesota. 1/ (2/26/87) Dallas Plains Bancorp, Inc., Dimmitt, Texas. (2/23/87) 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H. 2 , 1987, No. 9 12 APPLICATIONS RECEIVED To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received Richmond Blue Ridge Bank, Floyd, Virginia — to establish a branch at 1900 Norwood Street, Radford, Virginia. 2/ Richmond Peoples Bank of Danville, Danville, Virginia — to establish a branch at the northeast corner of Millgarden Drive and C.L. Walker Boulevard, Fredericksburg, Virginia. 2/ * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Received Dallas Wilcrest National Bank, Houston, Texas — merge with Memorial Bank, N.A., Houston, Texas. 2/ to * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Atlanta Florida First City Banks, Inc., Ft. Walton Beach, Florida — for approval to acquire 80 percent of the voting shares of First City Bank of Fort Walton, Ft. Walton Beach, Florida. 2/ Atlanta Gulf/Bay Financial Corporation, Tampa, Florida — for approval to acquire 100 percent of the voting shares of Gulf/Bay Bank, Tampa, Florida. 2/ Chicago Arcadia Financial Corporation, Kalamazoo, Michigan — for approvals to acquire 100 percent of the voting shares of Arcadia Bank, Kalamazoo, Michigan. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 9 13 APPLICATIONS RECEIVED - Continued St. Louis Leachville State Bancshares, Inc., Leachville, Arizona — for approval to acquire at least 90 percent of the voting shares of Leachville State Bank, Leachville, Arizona. 2/ Minneapolis Worthington Bancshares, Inc., Worthington, Minnesota — for approval to acquire 100 percent of the voting shares of First National Bank in Worthington, Worthington, Minnesota. 2/ Dallas CBSS Bancshares, Inc., Crosby, Texas — for approval to acquire 100 percent of the voting shares of First National Bank of Crosby, Crosby, Texas. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received New York Keycrop, Albany, New York — for approval to acquire 100 percent of the voting shares of Key Bank USA, N.A., Albany, New York. 2/ New York Saban, S.A., Panama City, Panama and Republic New York Corporation, New York, New York — for approval to acquire 100 percent of the voting shares of New WSB Savings Bank, New York, New York, the successor by merger to Williamsburgh Savings Bank, Brooklyn, New York. 2/ Cleveland F.N.B. — for voting Ohio. Cleveland Trustcorp, Inc., Toledo, Ohio — for approval to acquire 100 percent of the voting shares of Trustcorp Company, Dayton, Ohio. 2/ Atlanta Central Bancshares of the South, Inc, Birmingham, Alabama — for approval to acquire CBSS Bancshares, Inc., Crosby, Texas and indirectly First National Bank of Crosby, Crosby, Texas. 2/ 2/ Corporation, Hermitage, Pennsylvania approval to acquire 51 percent of the shares of First County Bank, Chardon, 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 9 14 APPLICATIONS RECEIVED - Continued Chicago Citizens Banking Corporation, Flint, Michigan — for approval to acquire 100 percent of the voting shares of Commercial National Bank of Berwyn, Berwyn, Illinois. 2/ Chicago First of America Bank Corporation, Kalamazoo, Michigan — for approval to acquire the successor by merger of Keystone Bancshares, Inc., Kankakee, Illinois, and indirectly City National Bank of Kankakee, Kankakee, Illinois, and Illinois Trust and Savings Bank, Ottawa, Illinois. 2/ Chicago Fort Wayne National Corporation, Fort Wayne, Indiana — for approval to acquire 100 percent of the voting shares of Exchange Bank, Warren, Indiana. 2/ St. Louis Smith Associated Banking Corporation, Little Rock, Arkansas — for approval to acquire at least 98 percent of the voting shares of Stephens Security Bank, Stephens, Arkansas. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Received Boston Amoskeag Bank Shares, Inc., Manchester, New Hampshire — for approval to merge with NTC Corp., Nashua, New Hampshire, and indirectly acquire Nashua Trust Company, Nashua, New Hampshire. 2/ Chicago First of America Bancorporation-Illinois, Inc., Libertyville, Illinois — for approval to merge with Keystone Bancshares, Inc., Kankakee, Illinois and indirectly acquire City National Bank of Kankakee, Kankakee, Illinois, and Illinois Trust and Savings Bank, Ottawa, Illinois. 2/ * * * * * 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 9 15 APPLICATIONS RECEIVED - Continued To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received New York Irving Bank Corporation, New York, New York — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a credit card company; providing to others financially related data processing and data transmission services, facilities, and data bases; or access to them) through a newly establish subsidiary. The activities will be conducted in New York, New York and Pittsford, New York. (2/23/87) Cleveland Huntington Bancshares Incorporated, Columbus, Ohio — to engage de novo (providing to others financially related data processing and data transmission services, facilities, and data bases; or access to them) through its subsidiary, The Huntington Service Company, Columbus, Ohio. The activity will be performed without geographical limitation. (2/23/87) Cleveland PNC Financial Corp., Pittsburg, Pennsylvania — to engage de novo (underwriting and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state member banks are authorized to underwrite and deal) through PNC Investment Company, Pittsburgh, Pennsylvania. (2/26/87) Richmond Sovran Financial Corporation, Norfolk, Virginia — to engage de novo (underwriting credit life and disability insurance on consumer loans) through its subsidiary, Sovran Life Insurance Company, Phoenix, Arizona. The activities would be conducted in Alabama, Arkansas, District of Columbia, Florida, Georgia, Kentucky, Maryland, Mississippi, North Carolina, Ohio, South Carolina, Tennessee and West Virginia. (2/27/87) H.2, 1987, No. 9 16 APPLICATIONS RECEIVED - Continued Richmond Sovran Financial Corporation, Norfolk, Virginia — to engage de novo (underwriting credit life and disability insurance on open end credit and line of credit extensions) through its subsidiary, Sovran Life Insurance Company, Phoenix, Arizona. The activities would be conducted nationwide (except for open end credit in New Hampshire and North Carolina). (2/27/87) Atlanta Louisiana Bancshares, Inc, Baton Rouge Louisiana — to engage de novo (underwriting credit/mortgage life and credit/mortgage disability insurance on consumer loans) through its subsidiary, Louisiana Credit Life Insurance Company, Inc., Phoenix, Arizona. (2/25/87) Chicago Associated Banc-Corp., Green Bay, Wisconsin — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company) through its subsidiary, Associated Mortgage, Inc., Green Bay, Wisconsin. The activities would be conducted from branch offices in Minnesota, Iowa, Indiana, Ohio, Michigan, Missouri, Kentucky and Wisconsin. (2/27/87) Chicago First of America Bancorporation-Illinois, Inc., Libertyville, Illinois — for approval to acquire Keystone Bancshares Life Insurance Company, Kankakee, Illinois, and thereby engage in underwriting credit life, accident and health insurance. Chicago First of America Bancorporation-Illinois, Inc., Libertyville, Illinois — for approval to acquire Keystone Data Corporation, Kankakee, Illinois and thereby engage in data processing activities. Chicago First of America Bank Corporation, Kalamazoo, Michigan — for approval to acquire Keystone Bancshares Life Insurance Company, Kankakee, Illinois and thereby engage in underwriting credit life, accident and health insurance. H.2, 1987, No. 9 17 APPLICATIONS RECEIVED - Continued Chicago First of America Bank Corporation, Kalamazoo, Michigan — for approval to acquire Keystone Data Corporation, Kankakee, Illinois and thereby engage in data processing activities. Chicago Illini Community Bancorp, Inc., Springfield, Illinois — to engage de novo (providing management consulting services to depository institutions) through its subsidiary. (2/23/87) Chicago Security Bancorp, Inc., Southgate, Michigan — to engage de novo (underwriting credit life, disability, or involuntary unemployment insurance) to include (open end credit card (except New Hampshire and North Carolina) and line of credit extensions) through its subsidiary, United Bankers Life Insurance Company, Phoenix, Arizona. These activities would be conducted nationwide. (2/27/87) San Francisco Security Pacific Corporation, Los Angeles, California — to engage de novo (underwriting and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state member banks are authorized to underwrite and deal) through Security Pacific Securities, Inc., Los Angeles, California. (2/23/87)
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