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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Applications and Reports Received or Acted on and All Other Actions of the Board H.2 1976 No. 5 During the Week Ending January 31, 1976 District Date 6 Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Received Metropolitan Bank, Tampa, Florida (Amendment #1) 1-29-76 8 Louisville Trust Bank, Inc., Louisville, Kentucky 1-30-76 * * 5 * To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Received Metropolitan Bank of Central Virginia, Lynchburg, Virginia * * * * iV 11 To Withdraw from Membership in the Federal Reserve System Without a Six-Month Notice as Prescribed by Section 9 of the Federal Reserve Act Denied First State Bank of Idabel, Xdabel, Oklahoma * * * * * H.2 , 1976 No. 5 4 5 7 12 2 - 2To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve. Act Received The Croghan Colonial Bank, Fremont, Ohio. Branch to be established at 1312-1314 East State Street, Fremont, Sandusky County. Union Trust Company of Maryland, Baltimore, Maryland. Branches to be established at the following locations: A. To be established at 6401 Security Boulevard, Wood lawnj Baltimore County. B. To be established at 1500 Wood lawn Drive, Woodlawn, Baltimore County. C. To be established at the intersection of Pratt and Paca Streets, Baltimore. The Detroit Bank-SouthfieId, Southfield, Michigan. Branch to be established at the Southeast corner of the intersection of Maple and John R Roads, Troy. Washington Trust Bank, Spokane, Washington. Branches to be established at the following locations: A. To be established in the vicinity of the intersection at Division Street and Indiana Avenue, Spokane. B. To be established in the vicinity of the intersection at Ash Street and Welies ley Avenue, Spokane. Approved ^Lincoln First Bank of Rochester, Rochester, New York. Branch to be established at 5130 East Main Street (Twin Fair Discount Department Store), Town of Batavia, Genesse County, 2 ^Manufacturers Hanover Trust Company/Genesee Region, Ontario, New York. Branch to be established at West Genesee Street and Route 173, Town of Camillus, Onondaga County. 5 ^Huntington Trust & Savings Bank, Huntington, West Virginia. Branch to be established at the intersection of Third Avenue and Eleventh Street, Huntington. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. S \ H.2 1976 No. 5 - 3Approved Cont'd -The Farmers Exchange Bank of Coeburn, Coeburn, Virginia. Branch to be established at the intersection of U. S. Alternate Highway 58 and State Route 72, Coeburn, Wise County. Withdrawn The Detroit Bank-Southfield, Southfield, Michigan. Branch to be established at Twelve Mile and Lockdale roads, Southfield. Ann Arbor Bank and Trust Company, Ann Arbor, Michigan. Branch to be established at 5301 Huron River Drive, Superior Township, Washtenaw County. * 12 ~k /V "k -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 The Bank of Tokyo, Ltd., Tokyo, Japan, a foreign bank holding company: to invest in a Section 25 Corporation in Houston, Texas, to be known as, "Tokyo Bancorp International (Houston), Inc." Vc -k * -k -k International Investments and Other Actions Approved 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 2 Chase Manhattan Corporation, New York, New York: investment - reorganization of stock hqldings of Orion Pacific Limited, Hong Kong. 2 First National City Overseas Investment Corporation, New York, New York: to continue to hold the shares of Societe Auxiliaire d'Equipements, Paris, France, and Societe de Credit pour 1'Acquisition et 11 Amelioration des Immeubles, S.A., Paris, France, after each issues debt obligations. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. International Investments and Other Actions Approved Cont'd Morgan Guaranty International Finance Corporation, New York, New York: investment - additional in Morgan Guaranty Investment Services S.A., Geneva, Switzerland. Morgan Guaranty International Finance Corporation. New York, New York: to continue to hold the shares of Morgan Servicos e Participacoes Limitada, Sao Paulo, Brazil, now that the latter has issued debt obligations. /V -,V -V Vr To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Withdrawn The Huntsvilie State Bank, Huntsville, Ohio for prior approval to merge with The Miami Valley Bank, Ouincy, Ohio. To Form a. Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received FMB Corporation, Midland, Michigan, for approval to acquire 100 per cent of the voting shares of First Midland Bank & Trust Company, Midland, Michigan, the successor by consolidation to First National Bank & Trust Company of Midland, Midland, Michigan. Kaskaskia Bancshares, Inc., New Athens, Illinois, for approval to acquire 80.1 per cent of the voting shares of State Bank of New Athens, New Athens, Illinois. International Bancorporation, St. Paul, Minnesota, for approval to acquire 7,940 shares of the voting shares of The First National Bank of International Falls, International Falls, Minnesota. CBT Co., Columbus, Nebraska, for approval to acquire 80 per cent or more of the voting shares of Citizens Bank & Trust Company, Columbus, Nebraska. Exchange Bancshares, Inc., Skiatook, Oklahoma, for approval to acquire 80 per cent or more of the voting shares of The Exchange Bank, Skiatook, Oklahoma. Approved Montrose Bancshares, Inc., Montrose, Missouri, for approval to acquire 84.75 per cent or more of the voting shares of Montrose Savings Bank, Montrose, Missouri. * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received Bren-Mar Properties, Inc., Columbia, Missouri, for approval to acquire 485 additional shares of First State Bank, Tishomingo, Oklahoma. Denied American Bancorporation, Columbus, Ohio, for approval to acquire 51 per cent or more of the voting shares of The American Bank of Central Ohio, Harrisburg, Ohio. H.2 1976 No. 5 Denied Continued Southland Bancorporation, Mobile, Alabama, for approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by merger to First National Bank of Fairhope, Fairhope, Alabama. Withdrawn American Bancorporation, Columbus, Ohio, for approval to acquire up to 91 per cent of the voting shares of The Eastern Ohio Bank, Union Township, Ohio. * 6 11 To Retain Bank Shares Acquired in a Fiduciary Capacity Pursuant to Section 3 of the Bank Holding Company Act of 1956 Received Trust Company of Georgia, Trust Company Bank, and Trust Company of Georgia Associates, all in Atlanta, Georgia, for approval to retain the shares of Bank of Eastman, Eastman, Georgia. Texas American Bancshares Inc., Fort Worth, Texas, for permission to retain 500 shares of Bank of Fort Worth, Fort Worth, Texas. * 4 * * * * * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received ^Pittsburgh National Corporation, Pittsburgh, Pennsylvania, notification of intent to relocate de novo activities (mortgage banking, including the making, acquiring, and servicing for its own accounts or the accounts of others, loans and other extensions of credit) from 11401 North Shore Drive, Reston, Virginia to Reston International Center Office Building, Suite 219, 11800 Sunrise Valley Drive, Reston, Virginia, through its wholly-owned subsidiary, The Kissell Company, Springfield, Ohio. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 1-14-76 H ' 2 No. 5 1976 ' 17 ' Received Continued **Union Commerce Corporation, Cleveland, Ohio, notification of intent to relocate d_e novo activities (providing investment advisory and portfolio management services for clients particularly in the areas of employee benefit funds, private foundation funds, educational endowment funds, and personal funds) from 800 Third Avenue, New York, New York to 300 Union Commerce Building, Cleveland, Ohio, through its wholly-owned subsidiary, Union Capital Management Corporation, New York, New York. 1-27-76 **Central National Corporation, Richmond, Virginia, notification of intent to engage in de novo activities (acting as insurance agent or broker with respect to the following types of insurance related to or arising out of loans made or credit transactions involving credit granting subsidiaries of Central National Corporation: credit life insurance, credit disability insurance, and credit accident and health insurance; physical damage insurance on mobile homes, motor homes, or other similar vehicles; and vendor's single interest physical damage insurance on motor vehicles, boats, trailers, and other kinds of personal property or attachments designed for use in connection therewith) at Cavalier Central Bank and Trust Company, Hopewell and Chesterfield County, Virginia, through a subsidiary, Cencor Insurance Agency Incorporated. 1-26-76 **American Bancshares, Incorporated, North Miami, Florida, notification of intent to engage in d_e novo activities (acting as insurance agent or broker with respect to credit life/accident and health insurance that is directly related to the extension of credit by a bank or bank related firm and credit life/accident and health insurance that is directly related to the provision of other financial services by a bank or bank related firm) in Tavernier, Florida, through a subsidiary, American Bancshares Insurance Agency, Incorporated. 1-26-76 **FBT Bancorp, Inc., South Bend, Indiana, notification of intent to engage in de novo activities (making, acquiring, or servicing loans or other extensions of credit for personal, family, household or commercial purposes; the sale of credit life/accident and health insurance in connection with the aforementioned extension of credit) at 509 Broadway, Anderson, Indiana, through its subsidiary, FBT Capital Corporation. 1-28-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 5 7 - 8 - Received Continued **FBT Bancorp, Inc., South Bend, Indiana, notification of intent to engage in de novo activities (the sale of credit life, credit accident and health insurance sold in connection with the extension of credit) at 204 Lincoln Road, Kokomo, Indiana, through its subsidiary, FBT Capital Corporation. 1-28-76 7 **FBT Bancorp, Inc., South Bend, Indiana, notification of intent to engage in de novo activities (the sale of credit life, credit accident and health insurance sold in connection with the extension of credit) at 409 North Hickory, South Bend, Indiana, through its subsidiary, FBT Capital Corporation. 1-28-76 7 **North Shore Capital Corporation, Wilmette, Illinois, notification of intent to engage in de novo activities (acting as agent, broker, or adviser only in the leasing of real and personal property and equipment where at the inception of the initial lease the expectation is that the effect of the transaction will be to compensate the lessor for not less than the lessor's full investment in the property plus the estimated cost of financing the property over the term of the lease; and acquiring for the account of others only, loans and other extensions of credit primarily to finance the acquisition of personal property and equipment; such loans would include, but not be limited to, the financing of time sales contracts, conditional sales agreements, installment purchase loans, and secured term loans; and as agent, broker, or adviser, only servicing the aforesaid leases and loans) at 1737 West Howard Street, Chicago, Illinois, through its subsidiary, NSCC Leasing Corp. 1-28-76 7 Town Financial Corporation, Hartford City, Indiana, for approval to acquire the shares of Bank Computer Services, Inc., Hartford City, Indiana. 8 Kaskaskia Bancshares, Inc., New Athens, Illinois, for approval to engage de novo in the sale of credit life and credit accident and health insurance directly related to extensions of credit by State Bank of New Athens, New Athens, Illinois. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 10 - 9 Received Continued Correction: **Delete notification by Bancoklahoma Corp., Tulsa, Oklahoma (formerly NBT Corp.), of intent to engage in de novo activities (to reinsure credit life insurance and credit accident and health insurance and to perform any normal business practices relating to the organization and operation of a life insurance company under the Oklahoma Insurance Code and regulations of the Oklahoma Insurance Commissioner; these activities will only be performed in relation to extensions of consumer credit by subsidiaries of the holding company in connection with their lending activities; the only current corporation subsidiary whose credit activities will be covered is The Bank of Oklahoma; however, the proposed credit insurance activity will also cover the extensions of credit by any future subsidiary of the corporation) at 320 South Boston, Tulsa, Oklahoma, through a subsidiary, Bancoklahoma Life, Inc. 10 1-16-76 Offerle Investment Co., Inc., Offerle, Kansas, for permission to retain the assets of Liebl Insurance Agency, Offerle, Kansas. 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in _de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself and others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) in Anaheim Lincoln Center, 2500 West Lincoln Avenue, Anaheim, California, through its subsidiary, FinanceAmerica Corporation. 12 **BankAmerica Corporation, San Francisco, California, notifi1-23-76 cation of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 1-22-76 H.2 1976 No. 5 - 10 - Received Continued of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 7577 W. 80th Avenue, Arvada, Colorado, through its subsidiary, FinanceAmerica Corporation. 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in d<2 novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 1438-lst Street, Livermore, California, through its subsidiary, FinanceAmerica Corporation. 1-22-76 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de_ novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related 1-22-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 5 - 11- Received Continued property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) in Upland Square, 905B West Foothill Blvd., Upland, California, through its subsidiary, FinanceAmerica Corporation. 12 **BankAmerica Corporation, San Francisco, California, notification of intent to relocate de novo activities (making loans, extending credit, and providing of services incident to such loans and extensions of credit such as would be made or provided by a finance company, including the following specific activities: making of consumer installment loans, purchasing installment sales finance contracts, and making of loans to small businesses; acting as agent or broker for the sale of credit related life/accident and disability insurance in connection with extensions of credit by FinanceAmerica Corporation of Georgia) from 426-11th Street, Columbus, Georgia to 2723 Manchester Expressway, Unit E, Columbus, Georgia, through its subsidiary, FinanceAmerica Corporation of Georgia. 1-26-76 12 **First Security Corporation, Salt Lake City, Utah, notification of intent to relocate jde novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit such as are normally made by a mortgage company and the servicing of such accounts for itself and for others; and to a limited extent through a subsidiary, acting as an insurance agent with respect to insurance directly related to said extensions of credit) from 472 Sheridan Avenue, Palo Alto, California to Suite 218, 2025 Gateway Place, San Jose, California, through its subsidiary, SecuritiesIntermountain, Inc. 1-19-76 7 Delayed **SJV Corporation, Elkhart, Indiana, notification of intent to engage in de. novo activities (the sale, as an insurance agent of credit life/accident and health insurance, which is directly related to extensions of credit by said subsidiary in connection with loans and other extensions of credit) in Mishawaka, Indiana, through its subsidiary, St. Joseph Valley Finance Corp. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 1-28-76 • H.2 1976 No, 5 12 e _19_ Delayed Continued **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 1050 "B" East Contra Costa Boulevard, Concord, California, through its subsidiary, FinanceAmerica Corporation. 1-26-76 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at Edinger Plaza, Southwest corner of Edinger and Sher Lane, Huntington Beach, California, through its subsidiary, FinanceAmerica Corporation. 1-26-/f 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de_ novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing 1-26-7b **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H. 2 1976 No. - 13 - Delayed Continued installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 730 Woodside Road, Redwood City, California, through its subsidiary, FinanceAmerica Corporation. 12 * *BankAme r i ca Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 2548 Cottage Way, Sacramento, California, through its subsidiary, FinanceAmerica Corporation. 1-26-7 6 12 **BankAmorlca Corporation, San Francisco, California, notificat ion of intent to engage in de novo activities (making or "ivtju i r i ng, for its own -ir count loans and other • xt ens ions vf credit and servir!ng for itself or others loan:; and other extensions of ? red it, such activities to include, hut not be limited to, the following: making ,>% ( unsumer installment i ians, purchasing installment finance contracts, making loans and other extensions of % n <ii t to small businesses, and making loans secured by real or personal property or a combination thereof; acilng as agent or broker for the sale of credit life and credit accident and health Insurance and credit related property and casualty Insurance in connection with extensions of credit hy FlnanccAmerica Corporation) at 415 Laurel A w n u e , San Oiego, California, through its subsidiary, i nanc^Amer i ra Corporation. 1-26-/- **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 5 12 " 14 Delayed Continued **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de_ novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) in Independence Square, 7331 Clairemont Mesa Boulevard, San Diego, California, through its subsidiary, FinanceAmerica Corporation. 1-26-76 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for* itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 2100 North Main, Santa Ana, California, through its subsidiary, FinanceAmerica Corporation. 1-26-76 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by 1-26-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. i H.2 1976 No. 5 -15- Delayed Continued real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 3623 Pacific Coast Highway, Torrance, California, through its subsidiary, FinanceAmerica Corporation. 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 16505 Clark Street, Bellflower, California, through its subsidiary, FinanceAmerica Corporation. 1-26-76 12 **BankAmerica Corporation, San Francisco, California, notification of intent to engage in jde novo activities (making or acquiring, for its own account loans and other extensions of credit and servicing for itself or others loans and other extensions of credit, such activities to include, but not be limited to, the following: making of consumer installment loans, purchasing installment sales finance contracts, making loans and other extensions of credit to small businesses, and making loans secured by real or personal property or a combination thereof; acting as agent or broker for the sale of credit life and credit accident and health insurance and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) at 1831 North Texas, Fairfield, California, through its subsidiary, FinanceAmerica Corporation. 1-26-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 5 6 - 16 - Permitted **Citizens and Southern Holding Company, Atlanta, Georgia, 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 issuing letters of credit and accepting drafts), such as would be made by a factoring company; servicing loans and other extensions of credit for any person; leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor 1 s full investment in the property) at 2059 Cooledge Road, Tucker, Georgia, through a subsidiary, Citizens and Southern Factors, Inc. 1-25-76 7 **Walter E. Heller International Corporation, Chicago, Illinois, notification of intent to engage in de novo activities (to engage in the business of commercial finance) at Colorado National Bank Building, 950 Seventeenth Street, Denver, Colorado, through its subsidiary, Walter E. Heller & Company. 1-31-76 7 **SJV Corporation, Elkhart, Indiana, notification of intent to engage in de novo activities (the sale, as an insurance agent of credit life/accident and health insurance which is directly related to extension of credit by said subsidiary in connection with loans and other extensions of credit) in Elkhart, South Bend, and La Porte, all in Indiana, through its subsidiary, St. Joseph Valley Finance Corp. 1-30-76 ^Mercantile Bancorporation Inc., St., Louis, Missouri, notification of intent to engage in d£ novo activities (making, acquiring, or servicing loans or other extensions of credit for personal, family, or household purposes such as are made by a finance company; and insurance agency or brokerage in connection with selling to consumer finance borrowers credit life insurance, credit accident and health insurance, and property damage insurance for collateral securing loans made to borrowers) at 10588 S.E. Washington, Portland, Oregon, through a subsidiary, Franklin Finance Company. 1-26-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1976 No. 5 n w 12 -17- Permitted Continued **Patagonia Corporation, Tucson, Arizona, notification of intent to engage in de novo activities (leasing personal property or acting as agent, broker, or adviser in leasing such property provided: the lease is to serve as the functional equivalent of an extension of credit to the lessee of the property; the property to be leased is acquired specifically for the leasing transaction under consideration or was acquired specifically for an earlier leasing transaction; the lease is on a nonoperating basis and at the inception of the initial lease the effect of the transaction (and, with respect to governmental entities only, reasonably anticipated future transactions) 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 property over the term of the lease) at 10920 Ambassador Drive, Kansas City, Missouri, through its subsidiary, Patagonia Leasing Company. 1-29-76 12 **Security Pacific Corporation, Los Angeles, California, notification of intent to engage in cte novo activities (making or acquiring, for its own account or for the account of others, loans and extensions of credit including making consumer installment personal loans, purchasing consumer installment sales finance contracts, making loans to small businesses, and other extensions of credit such as would be made by a factoring company or a commercial finance company; and acting as broker or agent for the sale of consumer related life/accident and health insurance and consumer related property and casualty insurance) at 200 New Stine Road, Bakersfield, California, through its subsidiary, Security Pacific Finance Corp. 1-25-76 12 **Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (making or acquiring, for its own account or for the account of others, loans and extensions of credit including making consumer installment personal loans, purchasing consumer installment sales finance contracts, making loans to small businesses, and other extensions of credit such as would be made by a factoring company or a commercial finance company; and acting as broker or agent for the sale of consumer related life/accident and health insurance and consumer related property and 1-26-76 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 1976 No. 5 Permitted Continued casualty insurance) at 3737 Main Street, Riverside, California, through its subsidiary, Security Pacific Finance Corp. 7 6 Reactivated **First Wisconsin Corporation, Milwaukee, Wisconsin, notification of intent to engage in de novo activities (serving as the advisory company for a real estate investment trust, in which capacity it will, among other activities, obtain or provide for the trust such services as may be required to supervise or manage the existing investments of the trust; represent the trust in transactions with others; originate and recommend to the trust investments in the form of construction mortgage loans, permanent mortgage loans, equity interest in real estate, and other investments in or related to real property; and advise and consult the trustees of the trust) in Boca Raton, Florida, through its subsidiary, First Wisconsin Mortgage Company, Milwaukee, Wisconsin. Returned **American Bancshares, Incorporated, North Miami, Florida, notification of intent to engage in dhs novo activities (acting as insurance agent or broker with respect to credit life/accident and health insurance that is directly related to the extension of credit by a bank or bank related firm; and credit life/accident and health insurance that is directly related to the provision of other financial services by a bank or bank related firm) in Homestead, Florida, through a subsidiary, American Bancshares Insurance Agency, Incorporated. * 7 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. I 1-28-76 * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956 Received **Berkshire Hathaway, Inc., Bedford, Massachusetts, notification of intent to acquire more than 5 per cent of the outstanding voting stock of Pinkerton f s, New York, New York, a company engaged in providing uniformed guard, investigative services, and related services to various industries. 1-30-76 1-29-76 # H. 2 1976 No. S i 19 Other Actions of the Board Statement by Governor George W. Mitchell before the Subcommittee on Financial Institutions of the Senate Committee on Banking, Housing and Urban Affairs recommending the enactment of legislation providing for the federal regulation and supervision of foreign bank operations in the United States. Statement by Governor Philip E. Coldwell before the Subcommittee on Financial Institutions Supervision, Regulation and Insurance of the House Committee on Banking, Currency and Housing on the FINE Discussion Principles embodied in Title III as it relates to the Board * s current assessment of the Bank Holding Company movement as it has developed since the 1970 Amendments. Order announcing Board 1 s decision not to add the operation of a travel agency to the list of permissible activities for bank holding companies. Letter to Chairman Proxmire of the Senate Banking, Housing and Urban Affairs Committee concerning £he status of the various foreign bank shareholders of EuropeanAmerican Bank and Trust Company, New York, New York, under the Bank Holding Company Act. Letter to Chairman Patman of the Subcommittee on Domestic Monetary Policy of the House Banking, Currency and Housing Committee concerning his request for files and records relating to some 35 bank holding companies listed in a recent New York Times story as being on a problem list. Amendments to carry out recent legislative revisions in the Real Estate Settlement Procedures (RESPA) and the Truth in Lending Act and a technical corrective amendment to Regulation Z to carry out the Fair Credit Billing Act. Appointment of James L. Kichline to the Securities Investor Protection Act Committee to replace Governor J. Charles Partee. # H.2 1976 No. 5 20 Continued ***Chase Manhattan Corporation, New York, New York, proposed merger of eight bank subsidiaries into the Corporation's lead bank subsidiary, Chase Manhattan Bank (National Association), New York, New York, report to the Comptroller of the Currency on competitive factors. ***Hiseville Deposit Bank, Hiseville, Kentucky, proposed merger with New Farmers National Bank of Glasgow, Glasgow, Kentucky, report to the Comptroller of the Currency on competitive factors. ***INB National Bank, Springfield, Illinois, proposed merger with Illinois National Bank of Springfield, Springfield, Illinois, report to the Comptroller of the Currency on competitive factors. ***Millington Bank of Maryland, Millington, Maryland, proposed merger into Farmers National Bank of Annapolis, Annapolis, Maryland, report to the Comptroller of the Currency on competitive factors. ***United Jersey Bank/Northwest, Dover, New Jersey, extension of time to March 8, 1977, within which to establish a branch in the vicinity of Glenn Road and Edison Road, Township of Sparta, New Jersey. ***Commerce Financial Corporation, Fort Worth, Texas, extension of time to December 31, 1976, within which to divest of Banco, Inc., Fort Worth, Texas. ***First Bancorp, Inc., Corsicana, Texas, extension of time to August 31, 1976, within which to divest of its interest in First Travel Agency, Corsicana, Texas. ***First Security Corporation, Salt Lake City, Utah, extension of time to April 30, 1976, within which to comply with Board's divestiture order of First Security Savings and Loan Association, Pocatello, Idaho. ***Huntington Trust & Savings Bank, Huntington, West Virginia, investment in bank premises. ***Processed on behalf of the Board of Governors under delegated authority. 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