The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
c',.. j C i . ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2 1972 No. 6 A p p l i c a t i o n s and R e p o r t s Received or Acted on During t h e Week Ending F e b r u a r y 5 , 1972 District 2 Date To Become a Member of t h e F e d e r a l Reserve System P u r s u a n t to S e c t i o n 9 of t h e F e d e r a l Reserve Act Received The New T r u s t Company of New J e r s e y , J e r s e y C i t y , New J e r s e y 4 The Ashland S t a t e Bank of Ashland, Ashland, Ohio 6 Monroe County Bank, Sweetwater, Tennessee 10 6 10 United Bank of P u e b l o , P u e b l o , Colorado Approved *Monroe County Bank, Sweetwater, Tennessee *United Bank of P u e b l o , P u e b l o , Colorado * * * * * 1 To E s t a b l i s h a Domestic Branch P u r s u a n t t o S e c t i o n 9 of t h e F e d e r a l Reserve Act Received The C o n n e c t i c u t Bank and T r u s t Company, H a r t f o r d , C o n n e c t i c u t . Branch to be e s t a b l i s h e d a t 23 Governor S t r e e t , R i d g e f i e l d , C o n n e c t i c u t . 2 M a n u f a c t u r e r s Hanover T r u s t Company, New York, New York. Branch to be e s t a b l i s h e d a t 3000 Hempstead T u r n p i k e , L e v i t t o w n ( u n i n c o r p o r a t e d a r e a ) , Town of Hempstead, Nassau, County. 2 M e t r o p o l i t a n Bank of S y r a c u s e , Syracuse, New York. Branch t o be e s t a b l i s h e d a t 6011 South S a l i n a S t r e e t , Town of Onondaga, County of Onondaga. * A p p l i c a t i o n p r o c e s s e d by t h e Reserve Bank on b a h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . <' H.2 1972 No. 6 -2Received Continued F i r s t V i r g i n i a Bank of t h e P e n i n s u l a , Hampton, V i r g i n i a . Branch t o be e s t a b l i s h e d a t 764 J . Clyde M o r r i s B o u l e v a r d , Newport News, V i r g i n i a , C i t i z e n s T r u s t Company, A t l a n t a , G e o r g i a . Branch to be e s t a b l i s h e d a t 3610 Gordon Road, S.W. , A t l a n t a , to be known a s t h e Gordon Road Branch. Approved ^Bankers T r u s t of Jamestown, Jamestown, New York. Branch t o be e s t a b l i s h e d a t 54 E a s t Main S t r e e t , W e s t f i e l d , Chautauqua County, New York. *Marine Midland B a n k - C e n t r a l , S y r a c u s e , New York. Branch to be e s t a b l i s h e d a t 1005 James S t r e e t , S y r a c u s e , Onondaga County, New York. * F i r s t V i r g i n i a Bank of t h e P e n i n s u l a , Hampton, V i r g i n i a . Branch to be e s t a b l i s h e d a t 429 Denbigh B o u l e v a r d , Newport News, V i r g i n i a . * 7 * * * * To C a r r y Reduced R e s e r v e s P u r s u a n t t o S e c t i o n 19 of t h e F e d e r a l R e s e r v e Act Approved Bank of Commerce and I n d u s t r y , Chicago I l l i n o i s * * * * * 2 2 To E s t a b l i s h an Overseas Branch of a Member Bank P u r s u a n t to S e c t i o n 25 of t h e F e d e r a l Reserve Act Received Chemical Bank, New York, New York Branch to be e s t a b l i s h e d i n P a r i s , F r a n c e . Approved F i r s t N a t i o n a l C i t y Bank, New York, New York. Branch to be e s t a b l i s h e d i n Monte C a r l o , Monaco. * A p p l i c a t i o n p r o c e s s e d by t h e Reserve Bank on b a h a l f of t h e Board of Governors u n d e r d e l e g a t e d a u t h o r i t y . H. 2 19.72 No. 6 -3Approved Continued F i r s t N a t i o n a l C i t y Bank, New York, New York. Branch t o be e s t a b l i s h e d in Bandar S e r i Begawan, Brunei. * 4 * * * * To Merger P u r s u a n t t o S e c t i o n 18(c) of the F e d e r a l D e p o s i t I n s u r a n c e Act Received The Ashland Bank & Savings Company, Ashland, Ohio, f o r p r i o r a p p r o v a l t o merge The Ashland S t a t e Bank of A s h l a n d , Ohio, under t h e c h a r t e r of t h e l a t t e r and t i t l e of t h e f o r m e r . * * * * * H.2 1972 No. 6 7 -4To Form a Bank Holding Company P u r s u a n t t o S e c t i o n 3 ( a ) ( 1 ) of t h e Bank H o l d i n g Company Act of 1956 Received Midland Mortgage C o r p o r a t i o n , D e t r o i t , Michigan, f o r p r i o r a p p r o v a l t o a c q u i r e i n e x c e s s of 85 p e r c e n t of t h e v o t i n g s h a r e s of Peoples Bank of P o r t Huron, P o r t Huron, Michigan. 7 Northern S t a t e s F i n a n c i a l C o r p o r a t i o n , D e t r o i t , Michigan, f o r p r i o r a p p r o v a l t o a c q u i r e 80 p e r cent or more of t h e v o t i n g s h a r e s of C i t y N a t i o n a l Bank of D e t r o i t , D e t r o i t , Michigan. 7 P o r t Huron F i n a n c i a l Company, D e t r o i t , Michigan, f o r p r i o r a p p r o v a l t o a c q u i r e i n e x c e s s of 85 p e r c e n t of t h e v o t i n g s h a r e s of P e o p l e s Bank of P o r t Huron, P o r t Huron, M i c h i g a n . 10 The C-M C o . , I n c . , Medicine Lodge, Kansas, f o r p r i o r a p p r o v a l t o r e t a i n 90 p e r c e n t of t h e v o t i n g s h a r e s of The I s a b e l S t a t e Bank, I s a b e l , Kansas. 7 Approved **The F i r s t N a t i o n a l Company, Storm Lake, Iowa, f o r p r i o r a p p r o v a l t o a c q u i r e 80 p e r c e n t or more of t h e v o t i n g s h a r e s of The C i t i z e n s F i r s t N a t i o n a l Bank of Storm Lake, Storm Lake, Iowa. * 2 6 * * * * To Expand a Bank H o l d i n g Company P u r s u a n t t o S e c t i o n 3 ( a ) ( 3 ) of t h e Bank Holding Company Act of 1956 Received F i r s t Empire S t a t e C o r p o r a t i o n , B u f f a l o , New York, f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r cent of t h e v o t i n g s h a r e s of Hambro American Bank & T r u s t C o . , New Y o r k , New York. B a m e t t Banks of F l o r i d a , I n c . , J a c k s o n v i l l e , F l o r i d a , f o r p r i o r a p p r o v a l t o a c q u i r e 90 p e r c e n t or more of t h e v o t i n g s h a r e s of Bank of F l o r i d a & T r u s t Co. a t Homestead, Homestead, F l o r i d a . * * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under delegated authority. 1-31-72 H. 2 1972 No. 11 11 Received Continued F i r s t City B a n c o r p o r a t i o n of Texas, I n c . , Houston, T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e 80 per cent or more of t h e v o t i n g s h a r e s of F i r s t N a t i o n a l Bank i n A r l i n g t o n , A r l i n g t o n , T e x a s . F i r s t C i t y B a n c o r p o r a t i o n of Texas, I n c . , Houston, T e x a s , f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r cent ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by r e o r g a n i z a t i o n t o G u l f g a t e S t a t e Bank of Houston, Houston, Texas. * * * * * To Expand a Bank Holding Company P u r s u a n t t o S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956 Received Marine Midland Banks, I n c . , B u f f a l o , New York, f o r p r i o r a p p r o v a l t o a c q u i r e a l l of t h e o u t s t a n d i n g s h a r e s of C a r t e r H. Golembe A s s o c i a t e s , I n c . , Washington, D.C. * * F i r s t & Merchants C o r p o r a t i o n , Richmond, V i r g i n i a , n o t i f i c a t i o n of i n t e n t t o engage i n a de novo a c t i v i t y (making second mortgage l o a n s ) a t Marlow H e i g h t s , Maryland, through i t s p r e s e n t s u b s i d i a r y , F i r s t R e a l t y Mortgage C o r p o r a t i o n , Richmond, V i r g i n i a . 2-4-72 * * C i t i z e n s and Southern Holding Company, A t l a n t a , G e o r g i a , n o t i f i c a t i o n of i n t e n t t o engage through a s u b s i d i a r y known as C o a s t a l and Southern C o r p o r a t i o n , H i l t o n Head I s l a n d , South C a r o l i n a , i n de novo a c t i v i t i e s ( c o n d u c t i n g a g e n e r a l t r u s t company b u s i n e s s , o f f e r i n g a f u l l range of c o r p o r a t e and p e r s o n a l t r u s t s e r v i c e s , i n c l u d i n g w i t h o u t l i m i t a t i o n e s t a t e and t r u s t a d m i n i s t r a t i o n , i n v e s t m e n t management s e r v i c e s , c o r p o r a t e and i n s t i t u t i o n a l t r u s t e e s h i p s and investment counseling s e r v i c e s ) . 2-3-72 **Processed by Reserve Bank on b e h a l f of t h e Board of Governors under delegated a u t h o r i t y . H.2 1972 No. 6 - 6 - Received Continued United N a t i o n a l C o r p o r a t i o n , V e r m i l l i o n , South D a k o t a , f o r p r i o r a p p r o v a l t o a c q u i r e Rushmore S t a t e I n s u r a n c e Agency, H i l l C i t y , South Dakota. 9 **XYZ C o r p o r a t i o n , P i e r r e , South Dakota, has a c q u i r e d P i e r r e F i n a n c e C o r p o r a t i o n , P i e r r e , South Dakota, a f i n a n c e company w i t h a s s e t s of l e s s t h a n $10,000,000. (Contract entered i n t o p r i o r to s u s p e n s i o n of s i m p l i f i e d p r o c e d u r e s , ) 1-1-72 The C-M C o . , I n c . , Medicine Lodge, Kansas, f o r p r i o r a p p r o v a l t o a c q u i r e The Clyde S. Boots I n s u r a n c e Agency, I s a b e l , Kansas. 10 **Commerce B a n c s h a r e s , I n c . , Kansas C i t y , M i s s o u r i , n o t i f i c a t i o n of i n t e n t t o c o n t i n u e t o engage i n a c t i v i t i e s begun de novo ( a c q u i r i n g f o r i t s own a c c o u n t from a f f i l i a t e banks i n s t a l l m e n t l o a n p a p e r , and owning and l e a s i n g p e r s o n a l p r o p e r t y and equipment t o a f f i l i a t e b a n k s ) through a s u b s i d i a r y known as Mid-America F i n a n c i a l C o r p . , Kansas C i t y , M i s s o u r i . 12 * * F i r s t S e c u r i t y C o r p o r a t i o n , S a l t Lake C i t y , Utah, 2-2-72 and U.S. B a n c o r p , P o r t l a n d , Oregon, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( p r o v i d i n g bookkeeping or d a t a p r o c e s s i n g s e r v i c e s f o r t h e i n t e r n a l o p e r a t i o n s of t h e h o l d i n g companies and t h e i r s u b s i d i a r i e s , and s t o r i n g and p r o c e s s i n g o t h e r bank f i n a n c i a l or r e l a t e d economic d a t a , such as p e r f o r m i n g p a y r o l l , a c c o u n t s r e c e i v a b l e or p a y a b l e , o r b i l l i n g s e r v i c e s f o r customers and i n c i d e n t a l a c t i v i t i e s necessary t h e r e t o ) through a s u b s i d i a r y known as F i r s t S e c u r i t y D a t a c o r p , S a l t Lake C i t y , Utah. 7 Approved F i r s t Chicago C o r p o r a t i o n , Chicago, I l l i n o i s , f o r p r i o r a p p r o v a l t o a c q u i r e a l l t h e v o t i n g s h a r e s of I . J . Mark i n & C o . , C h i c a g o , I l l i n o i s . * * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under delegated authority. 2-1-72 H .2 1972 No. 6 12 1 7 12 1 -7Denied U . S . Bancorp, P o r t l a n d , Oregon, f o r p r i o r a p p r o v a l t o a c q u i r e t h e v o t i n g s h a r e s of S e c u r i t i e s I n t e r m o u n t a i n , I n c . , P o r t l a n d , Oregon. Permitted** P e o p l e ' s C o r p o r a t i o n , P r o v i d e n c e , Rhode I s l a n d , t o engage i n j3e novo a c t i v i t i e s (mortage banking, i n c l u d i n g making l o a n s s e c u r e d by r e a l e s t a t e a n d / o r p e r s o n a l p r o p e r t y , s a l e s and s e r v i c i n g of of l o a n s , and r e l a t e d a c t i v i t i e s ) through a newly formed s u b s i d i a r y , F r e e s e Mortgage Company, I n c . , Denver, Colorado. C e n t r a l N a t i o n a l Chicago C o r p o r a t i o n , Chicago, I l l i n o i s , t o engage i n a de novo a c t i v i t y (making and a c q u i r i n g , f o r i t s own account or f o r t h e account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t t o t h e a g r i c u l t u r a l i n d u s t r y ) through a p r o p o s e d s u b s i d i a r y , t o be wholly-owned, C e n t r a l AgFinance Corporation, Chicago, I l l i n o i s . 2-3-72 Beverly H i l l s Bancorp, Beverly H i l l s , C a l i f o r n i a , t o engage i n a de novo a c t i v i t y ( o p e r a t i o n of an i n d u s t r i a l lo an b u s i n e s s ) through a s u b s i d i a r y known as Golden S t a t e T h r i f t & Loan, Los Angeles, California. 1-30-72 Withdrawn On H.2 #43 (1971) t h e Board r e p o r t e d r e c e i p t of an a p p l i c a t i o n from F i r s t N a t i o n a l Boston Corporation, Boston, Massachusetts, f o r p r i o r approval t o a c q u i r e c e r t a i n a s s e t s of t h e f a c t o r i n g b u s i n e s s of Crompton-Richmond C o . , I n c . F a c t o r s , New York, New York. A p p l i c a n t in a l e t t e r d a t e d January 2 1 , 1972, r e q u e s t e d t h a t t h e a p p l i c a t i o n be withdrawn. * * * * * **Processed by Reserve Bank on b e h a l f of t h e Board of Governors under delegated a u t h o r i t y . 1-30-72 H.2 1972 No. 6 4 7 10 ~8~ To Expand a Bank Holding Company P u r s u a n t t o S e c t i o n 4 ( c ) ( 1 2 ) of t h e Bank Holding Company Act of 1956 Received** S h e l t e r Resources C o r p o r a t i o n , C l e v e l a n d , Ohio, 2-2-72 n o t i f i c a t i o n of i n t e n t t o a c q u i r e t h e Georgetown A p a r t m e n t s , Parma H e i g h t s , Ohio, by Bates & S p r i n g e r , I n c . , C l e v e l a n d , Ohio, which i s a s u b s i d i a r y of C a p i t a l B a n c o r p o r a t i o n , C l e v e l a n d , Ohio (which i s owned by S h e l t e r Resources C o r p o r a t i o n ) . I n t e r n a t i o n a l Bank, Washington, D . C . , n o t i f i c a t i o n of i n t e n t t o a c q u i r e a l l of t h e s t o c k of Marion M a l l e a b l e I r o n Works, I n c . , Marion, I n d i a n a , (a c o r p o r a t i o n engaged i n t h e m a n u f a c t u r e of m a l l e a b l e and p e a r l i t i c m a l l e a b l e c a s t i n g s f o r use i n v a r i o u s t y p e s of v e h i c l e s and equipment) t h r o u g h i t s s u b s i d i a r y , I n t e r n a t i o n a l General I n d u s t r i e s , I n c . , Washington, D.C. 1-31-72 Otoe County C o . , Omaha, N e b r a s k a , n o t i f i c a t i o n of i n t e n t t o a c q u i r e 297 a c r e s of f a r m l a n d and i n t e n t t o engage i n a cow-calf o p e r a t i o n . 2-1-72 * * P r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under delegated authority.
@FedFRASER