The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
A N N O U N C E M E N T BY B O A R D O F G O V E R N O R S OF THE F E D E R A L R E S E R V E SYSTEM A p p l i c a t i o n s and Reports Received or Acted on H.2 1972 No. 27 D u r i n g the W e e k Ending July 1, 1972 District 5 Date To B e c o m e a M e m b e r of the F e d e r a l Reserve System P u r s u a n t to Section 9 of the F e d e r a l Reserve Act Received Old C o l o n y Bank & Trust C o m p a n y of W i l l i a m s b u r g , Williamsburg, Virginia •k /V i< -U To E s t a b l i s h a D o m e s t i c Branch Pursuant to Section 9 o f the F e d e r a l R e s e r v e Act Received C h e m i c a l Bank, N e w Y o r k , New Y o r k . Branch to be e s t a b l i s h e d at 714 Ninth A v e n u e , Borough of M a n h a t t a n , City of New Y o r k . F a r m e r s & M e r c h a n t s State Bank, F r e d e r i c k s b u r g , V i r g i n i a . Branch to be established at M a r y Washington College Campus, Fredericksburg. T h e L o u i s v i l l e Trust C o m p a n y , L o u i s v i l l e , Kentucky. Branch to be e s t a b l i s h e d at 2040 Bashford M a n o r Lane, L o u i s v i l l e , Jefferson County. Lemay Bank and Trust C o m p a n y , Lemay, M i s s o u r i . Branch to be e s t a b l i s h e d at the intersection of of T e l e g r a p h Road and B a u m g a r t n e r Road, St, Louis County. H.2 19 72 N o . 2 7 -2- Approved ^Marine Midland Bank-Southern, Elmira, New York. Branch to be e s t a b l i s h e d in the i m m e d i a t e n e i g h b o r h o o d of G r a h a m Road and H a m m e r R o a d , T o w n of L a n s i n g , T o m p k i n s C o u n t y . * L o n g Island Trust C o m p a n y , G a r d e n C i t y , N e w York. Branch to be e s t a b l i s h e d in A r c a d e S h o p p i n g C e n t e r , located on the west side of R o u t e 11, a p p r o x i m a t e l y 500 feet n o r t h of b i c y c l e p a t h , u n i n c o r p o r a t e d V i l l a g e of Port J e f f e r s o n S t a t i o n , T o w n of B r o o k h a v e n , S u f f o l k County. * L e w i s C o u n t y Trust C o m p a n y , L o w v i l i e , N e w Y o r k . A Public A c c o m m o d a t i o n office to be e s t a b l i s h e d at 5 3 9 7 D a y a n S t r e e t , L o w v i l l e . 2 *Bankers Trust Company, New York, New York. Branch to be e s t a b l i s h e d in the C r o s s r o a d s V i l l a g e S h o p p i n g C e n t e r , 198-29 H o r a c e H a r d i n g Boulevard, Bayside Hills, Queens County. 2 ^ M a r i n e M i d l a n d B a n k T r u s t C o m p a n y of C e n t r a l New York, Syracuse, New York. B r a n c h e s to be e s t a b l i s h e d in the f o l l o w i n g l o c a t i o n s : 2 A. I m m e d i a t e n e i g h b o r h o o d of the i n t e r s e c t i o n of N e w Y o r k R o u t e # 5 and N o r t h B u r d i c k S t r e e t , U n i n c o r p o r a t e d area in the T o w n of M a n l i u s , Onondaga County. B. P u b l i c A c c o m m o d a t i o n office (as a n adjunct to its N o r t h L i g h t s O f f i c e ) at 2802 B r e w e r t o n R o a d (U. S . R o u t e 11), u n i n c o r p o r a t e d a r e a , T o w n of S a l i n a , O n o n d a g a C o u n t y . C. Public A c c o m m o d a t i o n o f f i c e at 301 Butternut Street, Syracuse, Onondaga County. *The County Trust Company, White Plains, New York. Branch to be e s t a b l i s h e d in B u i l d i n g D , Store 9 of N e w b u r g h P l a z a , n o r t h side of State R o u t e 17K, east of U n i o n A v e n u e , T o w n of N e w b u r g h , O r a n g e County. * A p p l i c a t i o n p r o c e s s e d b y the R e s e r v e B a n k on b e h a l f of the Board of G o v e r n o r s under delegated authority. H.2 1972 N o . 27 -3Approved C o n t ' d . - B a n k of Tazewell C o u n t y , T a z e w e l l , V i r g i n i a . Branch to be established in the Doran Shopping Center, Doran, Tazewell C o u n t y . * U n i o n Bank and Trust C o m p a n y , O t t u m w a , Iowa. Parking lot office to be established at 2504 North Court Street, O t t u m w a . *Hillsdale State Savings Bank, H i l l s d a l e , Michigan. Branch to be established on W . Carleton Road, M-99, north of Fayette Street, Hillsdale. Y\ * * * * To Establish an Overseas Branch of a M e m b e r Bank Pursuant to Section 25 of the Federal Reserve Act Approved The First National Bank of Chicago, Chicago, Illinois. Branch to be established in Tokyo, Japan. * * * * * 12 Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country Approved Bank of America National Trust & Savings Association, San Francisco, California. Additional branch to be established in Greece to be located in Piraeus. * Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. 11. 2 1972 No. 27 To O r g a n i z e , or Invest in, a C o r p o r a t i o n Doing Foreign B a n k i n g and O t h e r F o r e i g n Financing Pursuant To Section 25 or 2 5 ( a ) of the Federal Reserve Act Received M a r i n e M i d l a n d B a n k - W e s t e r n , B u f f a l o , New Y o r k , to o r g a n i z e an Edge Act c o r p o r a t i o n to be k n o w n as M a r i n e Midland Western International Corporation, Buffalo, New York. 12 H a w a i i B a n c o r p o r a t i o n , Inc., H o n o l u l u , H a w a i i , to o r g a n i z e a c o r p o r a t i o n to be k n o w n as P a c i f i c I n v e s t o r s , Fiji, Ltd., Suva, Fiji. H.2 1972 No. 27 1 7 11 To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received **Century Bancorp, Inc., Somerville, Massachusetts, for prior approval to acquire up to 100 per cent and not less than 90 per cent of the voting shares of Century Bank and Trust Company, Somerville, Massachusetts. ** Irwin Union Corporation, Columbus, Indiana, prior approval to acquire 100 per cent of voting shares (less directors f qualifying of the successor by merger to Irwin Union and Trust Company, Columbus, Indiana. for the shares) Bank Approved **Northeast Bancorp, Inc., Fort Worth, Texas, for prior approval to acquire 100 per cent (less directors 1 qualifying s h a r e s ) of Northeast National Bank of Fort W o r t h , Fort Worth, Texas. * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received Combanks Corporation, Winter Park, Florida, for prior approval to acquire not less than 51 per cent of the voting shares of The Commercial Bank at A p o p k a , A p o p k a , Florida. Combanks Corporation, Winter Park, Florida, for prior approval to acquire not less than 51 per cent of the voting shares of The Commercial Bank at Pine Castle, Pine Castle, Florida. Combanks Corporation, W i n t e r Park, Florida, for prior approval to acquire not less than 51 per cent of the voting shares of North Orlando Bank, Fairvilla, Florida. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6-28-72 6-30-72 6-26-72 —6— H. 2 1 9 7 2 N o . 27 Received Continued C o m b a n k s C o r p o r a t i o n , W i n t e r P a r k , F l o r i d a , for prior a p p r o v a l to a c q u i r e not less t h a n 5 1 p e r cent of the v o t i n g s h a r e s of South S e m i n o l e Bank, Fern Park, Florida. 6 6 First at O r l a n d o C o r p o r a t i o n , O r l a n d o , F l o r i d a , for p r i o r a p p r o v a l to a c q u i r e all of the v o t i n g s h a r e s (less 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 C i t r u s First N a t i o n a l B a n k of L e e s b u r g , L e e s b u r g , Florida, a proposed new bank. 6 S o u t h e a s t B a n k i n g C o r p o r a t i o n , M i a m i , F l o r i d a , for p r i o r a p p r o v a l to a c q u i r e 80 p e r cent or m o r e of the v o t i n g s h a r e s of the M a n a t e e N a t i o n a l B a n k of B r a d e n t o n , B r a d e n t o n , F l o r i d a . 8 * * B o a t m e n 1 s Bancshares, Inc., St. Louis, Missouri, for prior a p p r o v a l to a c q u i r e 80 p e r cent or m o r e of the v o t i n g s h a r e s of the B o a t m e n T s N a t i o n a l B a n k of N o r t h St. L o u i s C o u n t y , St. L o u i s , Missouri, a proposed new bank. 6-28-72 **Commerce Bancshares, Inc., Kansas City, Missouri, for prior a p p r o v a l to a c q u i r e m o r e than 80 per cent of t h e v o t i n g s h a r e s of C o m m e r c e B a n k of St. L o u i s , N a t i o n a l A s s o c i a t i o n , St. L o u i s , Missouri, a proposed new bank. 6-27-72 10 Approved 2 U n i t e d B a n k C o r p o r a t i o n of N e w Y o r k , A l b a n y , N e w Y o r k , for p r i o r a p p r o v a l to a c q u i r e 100 per cent (less d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of the s u c c e s s o r b y m e r g e r to H i g h l a n d N a t i o n a l B a n k of N e w b u r g h , N e w b u r g h , N e w Y o r k . 11 First U n i t e d B a n c o r p o r a t i o n , I n c . , Fort W o r t h , T e x a s , for p r i o r a p p r o v a l to a c q u i r e 100 per cent of the v o t i n g s h a r e s (less directors/ q u a l i f y i n g s h a r e s ) of the s u c c e s s o r b y m e r g e r to The First N a t i o n a l B a n k of Fort W o r t h , Fort W o r t h , T e x a s . * * P r o c e s s e d b y R e s e r v e B a n k on b e h a l f of delegated authority. the Board of G o v e r n o r s under H.2 1972 N o . 27 -7Approved Continued F i r s t U n i t e d B a n c o r p o r a t i o n , I n c . , Fort W o r t h , T e x a s , for p r i o r a p p r o v a l to a c q u i r e 8 , 9 1 0 s h a r e s of the v o t i n g s h a r e s of S e c u r i t y S t a t e B a n k , Fort W o r t h , T e x a s . 11 11 F i r s t U n i t e d B a n c o r p o r a t i o n , I n c . , Fort W o r t h , T e x a s , for p r i o r a p p r o v a l to a c q u i r e 1 2 , 1 5 0 s h a r e s of the v o t i n g s h a r e s of S e m i n a r y State B a n k , Fort W o r t h , T e x a s . 11 S o u t h w e s t B a n c s h a r e s , Inc., H o u s t o n , T e x a s , for p r i o r a p p r o v a l to a c q u i r e 5 1 per cent or m o r e of the v o t i n g s h a r e s of T h e D e n t o n C o u n t y N a t i o n a l B a n k of D e n t o n , D e n t o n , T e x a s . * 1 2 * * * * T o E x p a n d a B a n k H o l d i n g C o m p a n y P u r s u a n t to S e c t i o n 4 ( c ) ( 8 ) of the B a n k H o l d i n g C o m p a n y Act of 1956 Received **Colonial Bancorp., Inc., Waterbury, Connecticut, n o t i f i c a t i o n of intent to e n g a g e in de n o v o a c t i v i t i e s (making or a c q u i r i n g , for its own a c c o u n t or for the a c c o u n t of o t h e r s , l o a n s or o t h e r e x t e n s i o n s of c r e d i t , p r i m a r i l y b y m o r t g a g e s and e n g a g i n g in r e l a t e d a c t i v i t i e s ) t h r o u g h a s u b s i d i a r y k n o w n as C o l b a n c R e a l t y Corporation, Waterbury, Connecticut. * * B a n k e r s Trust New Y o r k C o r p o r a t i o n , N e w Y o r k , N e w Y o r k , n o t i f i c a t i o n of intent to e n g a g e in a d e n o v o a c t i v i t y (leasing p e r s o n a l p r o p e r t y and e q u i p m e n t , or a c t i n g as a g e n t , b r o k e r , or a d v i s e r in l e a s i n g of such p r o p e r t y , w h e r e at the i n c e p t i o n of the i n i t i a l lease the e x p e c t a t i o n is that the effect of the t r a n s a c t i o n and reasonably anticipated future transactions w i t h the s a m e l e s s e e as to the s a m e p r o p e r t y w i l l b e to c o m p e n s a t e the lessor for not less t h a n the l e s s o r T s full i n v e s t m e n t in the p r o p e r t y ) through a w h o l l y - o w n e d s u b s i d i a r y k n o w n as BT L e a s i n g S e r v i c e s Inc., N e w Y o r k , New Y o r k . * * P r o c e s s e d by R e s e r v e B a n k on b e h a l f of delegated authority. the Board of G o v e r n o r s under 6-26-72 6-23-72 -8- H. 2 1972 N o . 27 Received C o n t i n u e d Provident National Corporation, Philadelphia, P e n n s y l v a n i a , for p e r m i s s i o n to retain all of the shares of J o h n P. M a g u i r e & C o . , Inc., New York, New York. 3 12 * * B a n k A m e r i c a C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of intent to e n g a g e in d e novo a c t i v i t i e s (making or a c q u i r i n g for its own a c c o u n t , or for the account of o t h e r s , loans and other e x t e n s i o n s of credit such as would b e m a d e by a m o r t g a g e c o m p a n y , such a c t i v i t i e s to i n c l u d e the d e v e l o p m e n t , m a k i n g , p l a c e m e n t , and servicing of m o r t g a g e loan i n v e s t m e n t s or r e s i d e n t i a l , i n d u s t r i a l , and c o m m e r c i a l real p r o p e r t y ) t h r o u g h a s u b s i d i a r y k n o w n as BA M o r t g a g e C o m p a n y of D e n v e r , D e n v e r , C o l o r a d o . * * P r o c e s s e d b y R e s e r v e B a n k on b e h a l f of the Board of G o v e r n o r s u n d e r delegated authority. 6-22-72 -9- H.2 1 9 7 2 N o . 27 6 - 1 6 Delayed **Palmer Bank Corporation, Sarasota, Florida, n o t i f i c a t i o n of intent to e n g a g e in a d e novo a c t i v i t y (acting as i n s u r a n c e agent or b r o k e r in o f f i c e s at w h i c h the h o l d i n g c o m p a n y or its s u b s i d i a r i e s are o t h e r w i s e e n g a g e d in b u s i n e s s (or in an o f f i c e a d j a c e n t t h e r e t o ) w i t h respect to the f o l l o w i n g types of i n s u r a n c e : (i) any i n s u r a n c e for the h o l d i n g c o m p a n y and its subsidiaries; (ii) a n y i n s u r a n c e that (a) is d i r e c t l y r e l a t e d to a n e x t e n s i o n of credit b y a b a n k or a b a n k - r e l a t e d firm of t h e kind d e s c r i b e d in this r e g u l a t i o n , but m o r e s p e c i f i c a l l y , l i f e , h e a l t h and a c c i d e n t , h o m e o w n e r f s and m o r t g a g e g u a r a n t e e i n s u r a n c e as t h e s e k i n d s of i n s u r a n c e c l o s e l y r e l a t e to r e a l e s t a t e and the p r o p e r o p e r a t i o n of a m o r t g a g e b a n k i n g c o m p a n y , or (b) is d i r e c t l y r e l a t e d to t h e p r o v i s i o n of o t h e r f i n a n c i a l s e r v i c e s b y a b a n k or such b a n k - r e l a t e d firm, or (c) is o t h e r w i s e sold as a m a t t e r of c o n v e n i e n c e to the p u r c h a s e r so long as the p r e m i u m i n c o m e f r o m sales w i t h i n (ii)(c) does not c o n s t i t u t e a s i g n i f i c a n t p o r t i o n of the a g g r e g a t e i n s u r a n c e p r e m i u m i n c o m e of the h o l d i n g c o m p a n y from i n s u r a n c e sold p u r s u a n t to s u b d i v i s i o n (ii). (Note: This proposal has b e e n r e f e r r e d to t h e B o a r d for a c t i o n . ) Permitted **Berkshire Bancorp, Inc., Pittsfield, Massachusetts, to e n g a g e in de n o v o a c t i v i t i e s (making or a c q u i r i n g l o a n s , s e r v i c i n g l o a n s , a c t i n g as i n v e s t m e n t and f i n a n c i a l a d v i s o r , and l e a s i n g of p e r s o n a l p r o p e r t y ) t h r o u g h a s u b s i d i a r y to b e l o c a t e d at o f f i c e s at 54 N o r t h S t r e e t , Pittsfield, Massachusetts. **First N a t i o n a l H o l d i n g C o r p . , A t l a n t a , G e o r g i a , to e n g a g e in a de n o v o a c t i v i t y (making loans, p r i n c i p a l l y s e c u r e d b y second m o r t g a g e s on s i n g l e f a m i l y r e s i d e n c e s , for its own a c c o u n t ) in A u g u s t a , G e o r g i a , t h r o u g h its p r e s e n t s u b s i d i a r y , First South H o m e o w n e r s C o . , I n c . ^ P r o c e s s e d b y R e s e r v e B a n k on b e h a l f delegated authority. of the Board of G o v e r n o r s under 6-29-72 7- 1-72 6-30-72 II. 2 1972 N o . 27 6 -10- Permltted Continued **Great A m e r i c a n C o r p o r a t i o n , B a t o n R o u g e , L o u i s i a n a , to engage in a de novo a c t i v i t y (leasing p e r s o n a l property and e q u i p m e n t , and a c t i n g as a g e n t , b r o k e r or a d v i s e r in leasing of such p r o p e r t y , w h e r e at the i n c e p t i o n of the i n i t i a l lease the e x p e c t a t i o n is that the effect of the t r a n s a c t i o n and r e a s o n a b l y a n t i c i p a t e d f u t u r e t r a n s a c t i o n s w i t h the same lessee as to the same p r o p e r t y w i l l be to c o m p e n s a t e the lessor for not less than the l e s s o r ' s f u l l i n v e s t m e n t in the p r o p e r t y ) through a s u b s i d i a r y to b e k n o w n as A m e r i c a n Equipment L e a s i n g C o m p a n y , Baton R o u g e , L o u i s i a n a . 6 - 2 6 - 7 2 7 ^ A m e r i c a n National Holding Company, Kalamazoo, M i c h i g a n , to engage in a d e n o v o a c t i v i t y (making, w a r e h o u s i n g , selling and s e r v i c i n g r e a l e s t a t e m o r t g a g e s ) through a s u b s i d i a r y k n o w n as A m e r i c a n National Mortgage Company, Kalamazoo, Michigan. Such a c t i v i t y w i l l be conducted at o f f i c e s in the f o l l o w i n g l o c a t i o n s : Kalamazoo, Plainwell, A l l e g a n , L a w r e n c e , A t h e n s , M e n d o n and R i c h l a n d , all located in M i c h i g a n . 6-25-72 10 * * A f f i l i a t e d B a n k s h a r e s of C o l o r a d o , I n c . , B o u l d e r , C o l o r a d o , to e n g a g e in d e novo a c t i v i t i e s (all a s p e c t s of the b u s i n e s s of m o r t g a g e l e n d i n g , i n c l u d i n g interim c o n s t r u c t i o n and permanent l o a n f i n a n c i n g of all types and s p e c i f i c a l l y the m a k i n g of c o n v e n t i o n a l , F e d e r a l H o u s i n g A d m i n i s t r a t i o n insured and V e t e r a n s A d m i n i s t r a t i o n g u a r a n t e e d l o a n s , and to e n g a g e in all a c t i v i t i e s in any w a y p e r t a i n i n g to the conduct of a m o r t g a g e l e n d i n g b u s i n e s s ) in C h e y e n n e , W y o m i n g , t h r o u g h its s u b s i d i a r y P i e d m o n t M o r t g a g e & I n v e s t m e n t C o . , Inc., Colorado Springs, Colorado. 6-26-72 12 * * B a n C a l T r i - S t a t e C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of intent to e n g a g e in d e n o v o a c t i v i t i e s (development and s e r v i c i n g of mortgage investments (residential, industrial, and c o m m e r c i a l ) for i n s t i t u t i o n a l i n v e s t o r s ) in an o f f i c e located in L o s A n g e l e s , C a l i f o r n i a , through its w h o l l y - o w n e d s u b s i d i a r y B a n C a l M o r t g a g e C o m p a n y , San F r a n c i s c o , C a l i f o r n i a . 7-1-72 * * P r o c e s s e d by R e s e r v e Bank on behalf of delegated a u t h o r i t y . the Board of G o v e r n o r s under H.2 1 9 7 2 N o . 27 -11" Reactivated * * H a w k e y e B a n c o r p o r a t i o n , D e s M o i n e s , Iowa, n o t i f i c a t i o n of intent to shift a, certain activity p r e v i o u s l y engaged in de_ novo (acting as investment or f i n a n c i a l a d v i s e r , including the furnishing of investment s u p e r v i s o r y s e r v i c e s ; that is, the giving of c o n t i n u o u s a d v i c e to clients as to the i n v e s t m e n t of funds on the basis of i n d i v i d u a l n e e d s of each c l i e n t ) by its s u b s i d i a r y First N a t i o n a l Bank, C l i n t o n , Iowa, to H a w k e y e B a n c o r p o r a t i o n Investment M a n a g e m e n t , Inc., Des M o i n e s , Iowa, a w h o l l y - o w n e d s u b s i d i a r y of H a w k e y e B a n c o r p o r a t i o n . 6-26-72 * * * * * T o E x p a n d a B a n k H o l d i n g C o m p a n y P u r s u a n t to S e c t i o n 4 ( c ) ( 1 2 ) of the Bank H o l d i n g C o m p a n y Act of 1956 7 Received * * T i m e H o l d i n g s , Inc., M i l w a u k e e , W i s c o n s i n , n o t i f i c a t i o n of intent to a c q u i r e F i n a n c i a l M a r k e t i n g S e r v i c e s , Inc. and F i n a n c i a l M a r k e t i n g I n s u r a n c e C o m p a n y , b o t h of P e n s a c o l a , F l o r i d a . * * P r o c e s s e d by R e s e r v e B a n k on behalf of the Board of G o v e r n o r s u n d e r delegated authority. 6-26-72
@FedFRASER