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ANNOUNCEMENT
BOARD OF GOVERNORS
H.2, 1989, No. 28
Actions of the Board, its Staff, and
the Federal Reserve Banks;
Applications and Reports Received
During the Week Ending July 15, 1989.
JL 3 ‘ & 55 i f ' M E
.FEDERAL RESERVE SYSTEM
r
t
V\
ACTIONS
THE BOARD OF GOVERNORS
•
•
BANK HOLDING COMPANIES
SouthTrust Corporation, Birmingham, Alabama — to
underwrite and deal in securities, to offer
full-service brokerage services and investment
advice, and to engage in commercial paper and in
private placement activities through SouthTrust
Securities, Incorporated.
Approved, July 10, 1989.
TESTIMONY AND STATEMENTS
National Flood Insurance Program — letter to
Congressman Erdreich, Chairman of the Subcommittee
on Policy Research and Insurance of the House
Committee on Banking, Finance and Urban Affairs.
Approved, July 11, 1989.
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
A B B R E V I A T I O N S : BS&R - Banking Supervision and Regulation; C&CA - Consumer and
Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve
Bank Operations; GC - General Counsel; IF - International Finance; OSDM - Office
of Staff Director for Management
BANK BRANCHES, DOMESTIC
Minneapolis
Farmers & Merchants Bank, Huron, South Dakota — to
establish a branch at 1920 Broadway, Yankton, South
Dakota.
Approved, July 11, 1989.
Cleveland
Fifth T h i r d Bank, Columbus, Ohio — to establish a
branch at Columbus City Center, Building D Store 127.
Approved, July 11, 1989.
Atlanta
Merchant B a n k of Florida, Brandon, Florida — to
establish a branch at Teco Plaza, 702 North
Franklin Street, Tampa, Florida.
Approved, July 12, 1989.
Dallas
Texas Commerce Bank - Rio Grande Valley,
Brownsville, Texas — to establish a branch at
2300 Boca Chica, Brownsville, Texas.
Approved, July 13, 1989.
H .2
JULY 9, 1989
PAGE 2
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
Staff Director
BS&R
Allegheny Bankshares Corporation, Lewisburg, West
Virginia — transfer agent registration.
Approved, July 12, 1989.
Chicago
Bank of Elmwood Employee Stock Ownership Plan and
Trust, Racine, Wisconsin — to acquire Elmwood
Financial Corporation, and Bank of Elmwood,
Elmwood, Wisconsin.
Approved, July 12, 1989.
Staff Director
BS&R
Barnett Brokerage, Service, Inc., Jacksonville,
Florida — request for relief from commitment not
to act as a principal or take a position in any
securities it brokers.
Granted, July 10, 1989.
Atlanta
BMR Financial Group, Inc., Atlanta, Georgia — to
acquire Bay Bankshares, Inc., Clearwater, Florida;
Ameribank; and Ameribank of Oldsmar, Oldsmar,
Florida.
Approved, July 13, 1989.
Kansas City
BOC Banshares, Inc., Chouteau, Oklahoma —
B a n k of Commerce.
Approved, July 13, 1989.
Atlanta
Da d e l a n d Bancshares, Inc., Miami, Florida; Dadeland
Bank; and Community Bank of Homestead, Homestead,
F l o rida — to retain shares of Financial
Processors, Inc., Miami, Florida.
Withdrawn, July 10, 1989.
Cleveland
Fifth T h i r d Bancorp, Cincinnati, Ohio — to acquire
C.S. Bancshares, Inc., C o n n e r s v i l l e , Indiana.
Approved, July 14, 1989.
Boston
Fleet / Norstar Financial Group, Inc., Providence,
Rhode Island — to transfer certain accounts of
Shatkin Financial Services, Inc., Chicago, Illinois
to Norstar Brokerage Corporation, New York, New
York.
Approved, July 11, 1989.
to acquire
H .2
JULY 9, 1989
PAGE 3
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
Atlanta
Franklin Financial Corporation, Franklin, Tennessee
— to acquire Franklin National Bank.
Approved, July 14, 1989.
New York
Fuji Bank, Limited, Tokyo, Japan — to acquire
certain factoring assets of NatWest Commercial
Services, Inc., New York, New York.
Approved, July 12, 1989.
San Francisco
Gateway Bancorp, Inc., Phoenix, Arizona — to engage
in credit card authorization services through
Allied Investment Company, Inc.
Returned, July 12, 1989.
Philadelphia
Guaranty Bancshares Corporation, Shamokin,
Pennsylvania — to acquire Guaranty Bank of
Princeton, Princeton, New Jersey.
Approved, July 12, 1989.
New York
Midlantic Corporation, Edison, New Jersey — to
acquire Central Trust Company, Rochester, New York;
Endicott Trust Company, Endicott, New York; The
First National Bank of Moravia, Moravia, New York,
The Merchants National Bank & Trust Company of
Syracuse, Syracuse, New York, and Union National
Bank, Albany, New Yo r k
A p p r o v e d , July 14, 1989.
Secretary
National City Corporation, Cleveland, Ohio — to
acquire Shawmut Mortgage Corporation, Miamisburg,
Ohio, and engage in mortgage banking activities and
credit related i n s u r a n c e .
Approved, July 13, 1989.
H.2
JULY 9, 1989
PAGE 4
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
New York
National Westminster PLC, London, England; NatWest
Holdings Inc., Wilmington, Delaware; and National
Westminster Bancorp Inc., New York, New Yor k — to
acquire Ultra Bancorporation, Bridgewater, New
Jersey; Ultra Bancorporation to merge with National
Westminster Bancorp NJ, Jersey City, New Jersey;
and coincident with the merger of Ultra
Bancorporation, National Westminster Bancorp NJ to
acquire Ultra Bancor p o r a t i o n Ts interest in
B a n c o r p s 1 International Trading Corporation,
Bridgewater, New Jersey, an export trading company.
Approved, July 12, 1989.
Minneapolis
New Richland Bancshares, Inc., New Richland,
Minnesota — to acquire State Bank of New Richland,
New Richland, Minnesota.
Approved, July 14, 1989.
Atlanta
North Georgia National Bancshares, Inc., Woodstock,
Georgia — to acquire North Georgia National Bank.
Approved, July 13, 1989.
New York
Texas Commerce Bancshares, Inc.," Houston, Texas —
exemption from Regulation L to permit William D.
Ruckelshaus to serve as a director of the Texas
Commerce Bancshares> Inc., Houston Texas, while
also serving as a director of Weyerhaeuser Company,
Tacoma, Washington.
Granted, July 13, 1989.
Boston
United S a v e r Ts Bancorp, Inc., Manchester, New
Hampshire — to continue to engage in loan
servicing activities.
Approved, July 11, 1989.
Boston
Wachusett Bancorp, Inc., Clinton, Massachusetts —
acquire Clinton Savings Bank.
Withdrawn, July 14, 1989.
Kansas City
Wauneta Falls Bancorp, Inc., Wauneta, Nebraska —
acquire W a u n e t a Falls Bank.
Approved, July 11, 1989.
to
to
H.2
JULY 9, 1989
PAGE 5
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK MERGERS
Richmond
Crestar Bank, Richmond, Virginia — to merge with
Mountain National Bank of Clifton Forge, Clifton
Forge, Virginia.
Approved, July 10, 1989.
BANK PREMISES
Chicago
Bank of Sturgeon Bay, Sturgeon Bay, Wisconsin —
investment in bank premises.
Approved, July 14, 1989.
Staff Director
BS&R
Bankers Trust Company, Des Moines, Iowa —
in bank premises.
Approved, July 13, 1989.
Cleveland
Sabina Bank, Sabina, Ohio —
premises.
Approved, July 10, 1989.
Staff Director
BS&R
United States Trust Company of New York, New York,
New York — investment in bank premises.
Approved, July 13, 1989.
investment
investment in bank
BANKS, STATE MEMBER
Staff Director
BS&R
First Bank North, Freeport, Illinois —
agent registration.
Approved, July 12, 1989.
transfer
CAPITAL STOCK
Chicago
Cleghorn Financial, Inc., Omaha, Nebraska —
redemption of shares.
Approved, July 14, 1989.
Boston
Family Bancorp, Haverhill, Massachusetts —
redemption of shares.
Approved, July 9, 1989.
Minneapolis
Farmers and Merchants Financial Services, Inc., St.
Paul, Minnesota — redemption of shares.
Approved, July 14, 1989.
H.2
JULY 9, 1989
PAGE 6
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
CHANGE IN BANK CONTROL
Kansas City
American Banc Corporation, Fremont, Nebraska —
change in bank c o n t r o l .
Permitted, July 14, 1989.
Cleveland
Ameritrust Corporation, Cleveland, Ohio —
bank c o n t r o l .
Permitted, July 11, 1989.
Richmond
ENB Financial Corporation, Elkridge, Maryland —
change in bank c o n t r o l .
Permitted, July 12, 1989.
Chicago
First Alsip Bancorp, Inc., Alsip, Illinois —
in bank c o n t r o l .
Returned, July 13, 1989.
Chicago
Oswego Bancshares, Inc., Oswego, Illinois —
in ba n k c o n t r o l .
Permitted, July 12, 1989.
Dallas
Premier Bancshares of Texas, Inc., Kerrville, Texas
— change in bank c o n t r o l .
Returned, July 14, 1989.
S t . Louis
Rosedale First National Corp. Rosedale, Mississippi
— change in bank c o n t r o l .
Withdrawn, July 12, 1989.
Kansas City
Stigler Bancorporation, Stigler, Oklahoma —
in bank c o n t r o l .
Permitted, July 13, 1989.
change in
change
change
change
COMPETITIVE FACTORS REPORTS
Kansas City
B a n k of Oklahoma, N.A., Tulsa, Oklahoma, proposed
merger with Ban k of Oklahoma, Broken Arrow, N.A.,
Broken Arrow, Oklahoma; Bank of Oklahoma, City
Plaza, Tulsa; Bank of Oklahoma, Lewis Center,
Tulsa; and Bank of Oklahoma, Southwest Tulsa,
Tulsa, Oklahoma — report on competitive factors.
Submitted, July 14, 1989.
Kansas City
Ban k of Papillon, Papillon, Nebraska, proposed merger
with Bank of the Midlands — report on competitive
factors.
Submitted, July 13, 1989.
H.2
JULY 9, 1989
PAGE 7
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
Dallas
Bonham State Bank* Bonham, Texas, proposed merger
with Willow Bend National Bank, Plano, Texas —
report on competitive factors.
Submitted, July 11, 1989.
Dallas
Capital Bank of Delhi, Delhi, Texas, proposed merger
with Security Bank, Monroe, Louisiana, Monroe,
Louisiana — report on competitive factors.
Submitted, July 11, 1989.
Philadelphia
Coastal Bank, Ocean City, New Jersey, proposed
purchase of certain assets and assumption of
deposit liabilities of the National Westminster
Bank Branch at 155 Shore Road, Ocean View, New
Jersey.
Submitted, July 12, 1989.
Kansas City
Commercial
proposed
Oklahoma
Submitted,
Atlanta
First National Ban k of Lake Charles, Lake Charles,
Louisiana, proposed merger with National Bank of
Commerce, DeRidder, Louisiana — report on
compet itive f a c t o r s .
Submitted, July 14, 1989.
Chicago
Bank, N.A., Oklahoma City, Oklahoma,
merger with Mercantile Bank, N.A., Moore,
— report on competitive factors.
July 13, 1989.
F 8 M Bank Hilbert, Hilbert, Wisconsin, proposed
merger with F 8 M Bank - Forest Junction, Forest
Junction, Wisconsin — report on competitive
factors.
Submitted, July 10, 1989.
Chicago
INB National Bank, Indianapolis, Indiana, proposed
merger wit h Citizens National Ba n k of Bedford,
Bedford, Indiana — report on competitive factors.
Submitted, July 12, 1989.
Philadelphia
Jefferson Bank, Haverford, Pennsylvania, proposed
purchase of certain assets and assumption of
deposit liabilities of the 5th and Chestnut Streets
Branch of Frankford Trust Company, Philadelphia,
P e n nsylvania — report on competitive factors.
Submitted, July 12, 1989.
H.2
JULY 9, 1989
PAGE 8
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
Dallas
Johnson County Bank* N.A., Cleburne, Texas, proposed
merger with First State Bank, Rio Vista, Texas —
report on competitive factors.
Submitted, July 11, 1989.
Kansas City
Key Bank of Wyoming - Casper, Casper, Wyoming,
proposed merger with Key Bank of Wyoming - Douglas,
Douglas; Key Bank of Wyoming - Gillette, Gillette;
Key Bank of Wyoming - Lusk, Lusk; Key Bank of
Wyoming - Sheridan, Sheridan; and Key Bank of
Wyoming - Wheatland, Wheatland, Wyoming — report
on competitive factors.
Submitted, July 13, 1989.
Kansas City
Key Bank of Wyoming - Cheyenne, Cheyenne, Wyoming,
proposed merger with Key Bank of Wyoming Torrington, Torrington, Wyoming — report on
competitive factors.
Submitted, July 12, 1989.
Kansas City
Key Bank of Wyoming - Jackson, Jackson, Wyoming,
proposed merger with Key Bank of Wyoming - Big
Piney, Big Piney; Key Bank of Wyoming - Evanston,
Evanston; and Key Bank of Wyoming - Kemmerer,
Kemmerer, Wyoming — report on competitive factors.
Submitted, July 12, 1989.
Kansas City
Key Bank of Wyoming - Riverton, Riverton, Wyoming,
proposed merger with Key Bank of Wyoming - Cody,
Cody, Wyoming; Key Bank of Wyoming - Lander,
Lander; and Key Ba n k of Wyoming - Worland — report
on competitive factors.
Submitted, July 12, 1989.
Kansas City
Key Bank of Wyoming - Roc k Springs, Rock Springs,
Wyoming, proposed merger with Key Bank of Wyoming Green River, Green River; Key Bank of Wyoming Laramie, Laramie; Key Bank of Wyoming - Rawlins,
Rawlins; and Key Bank of Wyoming - Saratoga,
Saratoga, Wyoming — report on competitive factors.
Submitted, July 12, 1989.
H.2
JULY 9, 1989
PAGE 9
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
New York
National Bank of Sussex County, Branchville, New
Jersey, proposed purchase of the assets and
assumption of the liabilities of the Netcong Office
of Crestmont Federal Savings and Loan Association,
Edison Township, New Jersey — * report on
competitive factors.
Submitted, July 12, 1989.
Chicago
NBD Commerce Bank, Lansing, Michigan, proposed merger
with Community State Bank, Fowlerville, Michigan —
report on competitive factors.
Submitted, July 10, 1989.
Kansas City
Nebraska State Bank, Ord, Nebraska, proposed merger
with Bank of Burwell, Burwell, Nebraska — report
on competitive factors.
Submitted, July 14, 1989.
Chicago
St. Francis State Bank, St. Francis, Wisconsin,
pr oposed merger with F&M Interim Bank of St.
Francis — report on competitive factors.
Submitted, July 12, 1989.
Dallas
Texas Commerce Bank - Rio Grande Valley, Brownsville,
Texas, proposed purchase of assets and assumption
of liabilities of National Bank of Commerce of
Brownsville — report on competitive factors.
Submitted, July 13, 1989.
EXTENSIONS OF TIME
San Francisco
BankA m e r i c a Corporation, San Francisco, California
extension to divest certain property.
Granted, July 12, 1989.
San Francisco
Br i g h t o n Bancorp, Salt Lake City, Utah —
to October 15, 1989, to redeem shares.
Granted, July 12, 1989.
Philadelphia
CoreStates Financial Corp., Philadelphia,
Pen n s y l v a n i a -- extension to October 11, 1989, to
engage in und e r w r i t i n g and dealing in certain
securities through CoreStates Securities Corp.
Granted, July 11, 1989.
extension
H .2
JULY 9, 1989
PAGE 10
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JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
EXTENSIONS OF TIME
San Francisco
Security Pacific Corporation, Los Angeles, California
— extensions to divest certain properties.
Granted, July 11, 1989.
INTERNATIONAL OPERATIONS
Staff Director
BS&R
Bank of America
San Francisco,
investment in
Permitted, July
National Trust & Savings Association,
California — to make an additional
KorAm Bank, Seoul, Korea.
13, 1989.
San Francisco
United States National Bank of Oregon, Portland,
Oregon — to establish an Edge Act corporation,
U.S. Bank International, Portland, Oregon, with
branches in San Mateo and Los Angeles, California.
Approved, July 10, 1989.
S t . Louis
Mid ~ America Bank of Louisville and Trust Company,
Louisville, Kentucky -- to become a member of the
Federal Reserve System.
Approved, July 14, 1989.
MEMBERSHIP
RESERVE BANK OPERATIONS
Director, FRBO
Federal Reserve Bank of Dallas —
drives and disk controllers.
Approved, July 10, 1989.
to purchase disk
RESERVE BANK SERVICES
Director, FRBO
Federal Reserve Bank of Kansas City — to offer a
fixed availability deposit option on sorted
unqualified local and nonlocal return item
deposits.
Approved, July 13, 1989.
H .2
ADDITIONS AND CORRECTIONS
JULY 9, 1989
PAGE 11
TO
JULY 14, 1989
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
Boston
BT Holding Company L.P., Boston, Massachusetts;
Wainwright Capital Company L.P.; Wainwright Capital
Management Company L.; and Wainwright Capital Corp
of Boston — to retain International Heritage
Corp., Boston, Massachusetts.
Withdrawn, April 5, 1989.
San Francisco
Salinas Valley Bancorp, Salinas, California —
acquire Bank of Salinas.
Returned, June 9, 1989.
to
COMPETITIVE FACTORS REPORTS
Atlanta
Barnett Bank of Atlanta, Palmetto, Georgia, proposed
merger with Investors Bank & Trust, Duluth, Georgia
— report on competitive factors.
Submitted, July 7, 1989.
Atlanta
Southeast Bank, N.A., Miami, Florida, proposed
purchase of certain assets and assumption of
certain liabilities of thirteen branches of
American Pioneer Savings Bank, Orlando, Florida —
report on competitive factors.
Submitted, July 7, 1989.
EXTENSIONS OF TIME
San Francisco
World Trade Bancorp, Beverly Hills, California —
extension to December 31, 1989, to achieve change
in bank c o n t r o l .
Granted, July 5, 1989.
FEDERAL RESERVE BANK OF BOSTON APPLICATIONS
SECTION I - APPLICATIONS SUBJECT TO
NEWSPAPER NOTICE ONLY
Application
Comment Period Ending Date
NONE
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
Application
Comment Period Ending Date
Lee National Banc Corp, Lee,
Massachusetts - 3(a)(1)
application to become a bank
holding company through the
acquisition of First National
Bank of the Berkshires, Lee,
Massachusetts*
Newspaper
Federal Register
8-10-89
Not Yet Established
SECTION III - APPLICATIONS SUBJECT TO
FEDERAL REGISTER NOTICE ONLY
Application
Comment Period Ending Date
NONE
Federal Reserve Bank of New York
Comment Period
Ending Date
SECTION I
Applications Subject to Newspaper
____________ Notice Only__________
None.
SECTION II
Applications Subject to Both
Newspaper and Federal Register Notice
Harmonia Bancorp, Inc., Kenilworth, New Jersey to
became a bank holding company with respect to Harmonia
Savings Bank, Kenilworth, New Jersey. 1/
8/12/89 3/
Ira Hoberman, Lakewood, New Jersey to increase his
interest in Fist State Bancorp, Howell, New Jersey to
16.48%.
8/1/89 3/
SECTION III
Nonbanking Applications
(Subject to Federal Register Notice Only)
Barclays PIC, London, England; Barclays Bank PIC,
London, England; Baybanks, Inc., Boston, Massachusetts;
Chemical Banking Corporation, New York, New York;
Manufacturers Hanover Corporation, New York, New York;
National Westminster Bank PLC, London, England;
NatWest Holdings Inc., New York, New York; Northeast
Bancorp, Inc., New Haven, Connecticut; The Bank of
New York Company, Inc., New York, New York; The Chase
Manhattan Corporation, New York, New York; The Hongkong
and Shanghai Banking Corporation, Hong Kong, B.C.C.;
Kellett NV, Curacao, Netherlands Antilles; HSBC
Holdings BV, Amsterdam, the Netherlands; and Marine
Midland Banks, Inc., Buffalo, New York to acquire,
indirectly through The New York Switch Corporation,
Datek Instacard Corporation, Buffalo, New York and
thereby to engage in data processing and related
activities.
N/A
Canadian Imperial Bank of Commerce, Toronto, Canada
to engage through its subsidiary, Wood Gundy Corp.,
in the private placement of debt and equity securities.
N/A
The Fuji Bank, Ltd., Tokyo, Japan to engage through
its subsidiary, Heller Capital Markets Group, Inc.,
in financial advisory activities, placing, as the
issuer's agent, commercial paper, acting as agent,
broker or advisor in the leasing of personal property
and loan marketing activities.
N/A
Federal Reserve Bank of New York
Comment Period
Ending Date
Nippon Credit Bank Ltd., Tokyo, Japan, to engage
through its subsidiary, Eastbridge Capital, Inc.,
in acting as investment adviser to investment
companies.
N/A
SECTION IV
Applications Not Involving
______ Public Comment______
Manufacturers Hanover Corporation, New York to mate
an additional investment in Manufacturers Hanover
Leasing International Corporation, New York, New York
("MHLT"), and to contribute MHLI to Manufacturers
Hanover International Finance Corporation, New York,
New York ("MHIFC"); MHIFC also to mate an additional
investment in Manufacturers Hanover Arrendamento
Mercantil, S.A., Rio de Janeiro, Brazil.
1/
2/
3/
Subject to provisions of Community Reinvestment Act.
Later of dates specified in newspaper and Federal Register notices.
Data specified in newspaper notice; a later date may be specified in
the Federal Register notice.
N/A - Not Available
FEDERAL
RESERVE BAN KO F
PHILADELPHIA
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY
Comment Period Ending Date
Montour Bank (in organization), Danville,
PA for membership in the Federal Reserve System
pursuant to Section 9 of the Federal Reserve Act
and Section 208.4 of Regulation Y.
8/13/89
SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND
FEDERAL REGISTER NOTICE
Comment Period Ending Date
None.
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
Comment Period Ending Date
None.
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE*
OR NEWSPAPER NOTICE
None.
JV Subject to provisions of Community Reinvestment Act.
*N/A - not yet available.
Ten Independence Mall, Philadelphia, PA 19106-1574, (215) 574-6000
Applications Bulletin
For Week Ending July 15, 1989
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
COMMENT PERIOD ENDING
A P P L IC A T IO N
Received two (2) applications on July io , 1989
from The Provident Bank, Cincinnati, Ohio, for
permission to relocate existing branches at
2739 Madison Road and 3195 Linwood Avenue,
both located in Cincinnati, Ohio, to 3880
Paxton Avenue, Cincinnati, Ohio.
*A ugust 7, 1989
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
NONE
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
N O T IC E ONLY
Received Section 4(c)(8) Notice on June
29, 1989 fran Hometown Bancshares, Inc.,
Middleboume, West Virginia, of its intent
to engage in general insurance agency activities
in towns having a population of 5,000 or less
through Hometown Insurance Agency, Inc., a
wholly-owned subsidiary pursuant to Section
225.25(b)(8)(iii)(A) of Regulation Y.
July 28, 1989
- SuDject to CRA
# - Expected to end a p p ro x im a te ly 30 days from the date o f r e c e ip t
N - Newspaper Comment P eriod
F - Federal R e g is te r Comment P eriod
Applications Bulletin
For Week Ending July 15, 1989
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
to®
*
#
N
F
-
Subject to CRA
Expected to end approximately 30 days from the date of receipt
Newspaper Comment Period
Federal Register Comment Period
Federal Reserve Bank of Richmond
Section I - Applications Subject to Newspaper
Notice Only
Application
Comment Period Ending Date
None
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application
Comment Period Ending Date
H orizon Bancorp, Inc., Bethesda, Maryland,
for prior approval to become a bank holding
company through the acquisition of GOLDCrest
Bank, Bethesda, Maryland, a de novo bank.*
8-4-89
Section III - Applications Subject to Federal Register Notice
A p p lication
Comment Period Ending Date
None
Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
None
^Application is subject to CRA.
July 10, 1989
Federal Reserve Bank of Atlanta
Applications Bulletin
Section I - Applications Subject to Newspaper
Notice Only
Application
Conxnent Period Ending Date
Emerald Coast State Bank
07-31-89 (CRA)
Mary Esther, Florida
To relocate its Main Office from 130 Miracle Strip Parkway West,
Mary Esther, Florida, to the c o m e r of Beal Parkway and Carmel Drive.
First Interim Bank of Crestview
06-26-89 (CRA)
Crestview, Florida
Newspaper
To become a member of the Federal Reserve System, pursuant to section 9 of
the Federal Reserve Act.
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application
Conment Period Ending Date
Metro Bank of Dade County
07-20-89
Coral Gables, Florida
Federal Register & Newspaper
Change in control by Fred Havenick and Barbara Havenick to acquire up to
20.6 percent of the outstanding shares.
Bryan Bancorp of Georgia, Inc.
07-31-89
Richmond Hill, Georgia
Federal Register
1-BHC formation, Bryan Bank & Trust, Richmond Hill, Georgia.
CB&T Bancshares, Inc.
07-06-89
Columbus, Georgia
Federal Register
To merge with Vanguard Banks, Inc., Valparaiso, Florida, and thereby
indirectly acquire its subsidiary bank, Vanguard Bank and Trust Ccnpany,
Valparaiso, Florida.
AgriSource Incorporated
07-26-89
Rayne, Louisiana
Federal Register
1-BHC formation, Bank of Southwest Louisiana, Oakdale, Louisiana.
Cen-La Bancshares, Inc.
07-24-89
Marksville, Louisiana
Newspaper
To retain indirect ownership (5.59 percent) of Union Bancshares, Inc.,
Marksville, Louisiana (after-the-fact).
Federal Reserve Bank of Chicago
Section I - Applications Subject to Newspapc
Notice Only
Type
Application
Branch/24A
Sparta State Bank
Sparta, Michigan
416 Division St.
Sparta, Michigan - 24A*
Comment Period
Ending Date
N
- 5-11-89
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Comment Period
Ending Date
Type
Application
Y-2
First Chicago Acquisition III Corp.
Chicago, Illinois
Ravenswood Financial Corporation
Chicago, Illinois
Bank of Ravenswood
Chicago, Illinois*
N - 7-7-89
FR - 7-17-89
Y-2
First Chicago Corporation
Chicago, Illinois
Ravenswood Financial Corporation
Chicago, Illinois
Bank of Ravenswood
Chicago, Illinois*
N - 7-7-89
FR - 7-17-89
Y-2
Salin Bancsharea of North Central
Indiana, Inc.
Indianapolis, Indiana
Logansport Bancorp, Inc.
Indianapolis, Indiana
The Farmers & Merchants State Bank
Logansport, Indiana*
N - 8-1-89
FR - **
Y-l
Withee Bank Shares, Inc.
Withee, Wisconsin
State Bank of Withee
Withee, Wisconsin*
N
Cascade Bancorporation, Inc.
Altoona, Iowa
Wabeno Bancorporation, I n c •
Altoona, Iowa
State Bank of Wabeno
Wabeno, Wisconsin*
N
Wabeno Bancorporation, Inc.
Altoona, Iowa
State Bank of Wabeno
Wabeno, Wisconsin*
N - 6-15-89
FR - 7-7-89
Y-2
Y-l
- 7-7-89
FR - 8-2-89
- 6-15-89
FR - 7-7-89
Federal Reserve Bank of Chicago
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
(continued)
Comment Period
Ending Date
Type
Application
Y-l
Illinois Valley Bancshares, Inc.
Elmh u r s t , Illinois
Colonial Trust & Savings Bank
Peru, Illinois
Illinois Regional Bank, Bureau County
Princeton, Illinois*
N - 7-18-89
FR - 7-7-89
Y-2
Northwest Illinois Bancorp, Inc
Freeport, Illinois
First Galena Bancshares, Inc
Galena, Illinois
The First National Bank of Galena
Galena, Illinois*
N - 7-21-89
FR - 7-14-89
Y-2
NWIB Acquisition Corporation, Inc
Freeport, Illinois
First Galena Bancshares, Inc
Galena, Illinois
The First National Bank of Galena
Galena, Illinois*
N - 7-21-89
FR - 7-14-89
Y-l
Mansfield Bancorp, Inc
Mansfield, Illinois
People's State Bank of Mansfield
Mansfield, Illinois*
N - 7-22-89
FR - **
Y-2
Merchants National Corporation
Indianapolis, Indiana
First National Bankshares, Inc
Logansport, Indiana
The First National Bank of Logansport
Logansport, Indiana
First National Bank of Indiana
Monticello, Indiana*
N - **
FR - **
Y-l
Westchester Financial Corporation
Westchester, Illinois
Westbank
Westchester, Illinois*
Y-l
First Channahon Bancorp, Inc
Naperville, Illinois
WestBank/Orland Park
Orland Park, Illinois (in organization)*
N - **
FR - **
N - **
FR - **
Federal Reserve Bank of Chicago
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
(continued)
Comment Period
Ending Date
Type
Application
Y-2
WestBank Financial Corporation
Naperville, Illinois
First Bank of Channahon (Charter Only)
Channahon, 111inoi s
WestBank/Orland Park (in organization)
Orland Park, Illinois*
N - **
FR - **
Y-2
First Chicago Corporation
Chicago, Illinois
The Winnetka Bank
Winnetka, Illinois*
N - **
FR - **
Section III - Applications Subject to Federal Register Notice
Only
Comment Period
Ending Date
Type
Application
4(c)(8)
First Midwest Bancorp, Inc
Naperville, Illinois
First Midwest Asset Management Co.
Joliet, Illinois
Y-4
Bank of Montreal
FR - **
Montreal, Canada
Nesbitt Thomson Securities, Inc
New York, New York - underwriting and dealing in
debt and equity securities
4(c)(8)
First Midwest Bancorp, Inc
Naperville, Illinois
Continue to engage in making, acquiring
and servicing loans
FR - **
Y-4
Johnson Heritage Bancorp, Ltd
Racine, Wisconsin
Johnson Heritage Trust Company
Racine, Wisconsin
FR - **
4(c)(8)
Erie Bancorp, Inc
Erie, Illinois
Engage in making and servicing loans
FR - **
FR - 7-28-89
Federal Reserve Bank of Chicago
Section IV - Applications Not Subject to Federal Register Notice
Or Newspaper Notice
Type
Application
None
N
FR
*
**
-
Newspaper
Federal Register
Subject to Provisions of Community Reinvestment Act
Not available at this time
Fed eral Reserve Bank o f S t. Lo uis
SECTION I ~ APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
Application
Comment Period Ending Date
♦Section 3(a)(3) application by
Liberty National Bancorp, Inc.,
Louisville, Kentucky, to acquire
Florence Deposit Bank, Florence,
Kentucky
(Not available)
♦Section 3(a)(5) application by
Union Planters Corporation,
Memphis, Tennessee, to acquire
National Commerce Corporation,
New Albany, Mississippi
(Not available)
♦Section 3(a)(1) application by
First National Security Company,
De Queen, Arkansas, to acquire
First National Bank of De Queen,
De Queen, Arkansas; Citizens
National Bank of Nashville,
Nashville, Arkansas; First
National Bank of Howard County,
Dierks, Arkansas; and Bank of
Ashdown, N.A., Ashdown, Arkansas
(Not available)
♦Section 3(a)(1) application by M & P
Community Bancshares, Inc., Newport,
Arkansas, to acquire Merchants and
Planters Bank, Newport, Arkansas
(Not available)
Fe d e ra l Reserve Bank o f S t . Lo u is
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
None.
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
FEDERAL RESERVE BANK OF MINNEAPOLIS
Section I - Applications Subject to
_______ Newspaper Notice Only_______
Comment Period
Ending Date
Application
None.
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application
Comment Period
Ending Date
Primo Financial Services, Inc.
Apple Valley, MN
To acquire the State Bank of Hampton,
Hampton, MN*
Not yet available
James W. Emison
To acquire control of 26.23%
of Henderson Bancorporation, Inc.,
Not yet available
Henderson, MN
Stearns Financial Services, Inc.
Albany, MN
To acquire (1) 80% of Stearns Agency, Inc.,
Albany, MN, which owns Stearns County Na
tional Bank, Albany, MN; (2) 100% of Finan
cial Services of Evansville, Inc., Evans
ville, Inc., Evansville, MN, which owns
Farmers State Bank, Evansville, MN; (3)
84.13% of Security State Bank, Holdingsford,
MN; and (4) 94.56% of Farmers State Bank,
Upsala, MN*
Mar'tinius Corporation
Rogers, MN
To acquire Almelund Bancshares, Inc.
Almelund, MN*
First Bank System, Inc.
Minneapolis, MN
To merge with Northern Cities Bancorpora
tion, Inc., Anoka, MN*
*Subject to CRA
7-28-89
(Federal Register)
8-2-89
(Newspaper)
Not yet available
FEDERAL RESERVE BANK OF MINNEAPOLIS
Section III - Applications Subject
to Federal Register Notice Only
Application
Comment Period
Ending Date
Stearns Financial Services, Inc.
Albany, MN
To engage in general insurance agency
activities in places with a population
not exceeding 5,000 through the acqui
sition of (1) Stearns Agency, Inc.,
Albany, MN; (2) Financial Services, of
Evansville, Inc., Evansville, MN; and
(3) Security Insurance Agency, Holdingsford, MN
7-28-89
Norwest Corporation
Minneapolis, MN
To engage in leasing personal or real
property or acting as agent, broker or
advisor in leasing such property and
commercial finance through the acquisi
tion of Crestwood Capital Corp., Minne
apolis, MN and Crestwood Financial Corp.
Minneapolis, MN.
Not yet available
Norwest Corporation
Minneapolis, MN
To engage de novo through Norwest Investment
Services, Inc., in the following activities:
1) Underwriting and dealing in obligations
that national banks are authorized to deal in;
2) Underwriting and dealing to a limited ex
tent in certain securities national banks are
ineligible to deal in;
3) Full service retail brokerage;
4) Providing private placement services for
commercial paper, municipal revenue bonds,
municipal leases, and mortgage-backed securi
ties ;
5) Purchasing and selling precious metals and
coins for the account of customers; and
6) Acting as a futures commission merchant.
Not yet available
FEDERAL RESERVE BANK OF MINNEAPOLIS
Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
Norwest Corporation
Minneapolis, MN
To redeem 2.1% of its voting shares.
Federal Reserve Bank o f Kansas City
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION
C O M M E N T P E R I O D E N DING DATE
None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION
C O M M E N T P E R I O D E N D I N G DATE
Fourth Financial Corporation/
W i c h i t a / Kansas/ for prior a p p r o v a l
t o a c q u i r e 100 p e r c e n t of the
v o t i n g s h a r e s of T h e G a r d e n
N a t i o n a l Ba n k of G a r d e n City/
G a r d e n City, K a n s a s . *
Not Available
B r u c e B. Morgan/ K a n s a s City/
M i s s o u r i / and D o n n a L. McCoy/
S h a w n e e / Kansas/ for prior a p p r o v a l
for eac h t o a c q u i r e a 50 p e r c e n t
o w n e r s h i p i n t e r e s t in P o l o
B a n c s h a r e s , Inc./ Polo, M i s s o u r i .
Not A v a i l a b l e
C h r i s t o p h e r D i n s d a l e / S t e rli n g /
Colorado; Thomas Stephen Dinsdale/
G r a n d Island/ N e b r a s k a ; J a n e t L y n n
D i n s d a l e Ba r c l a y , G r a n d Isla n d ,
N e b r a s k a ; and Ja n e D i n s d a l e Rog e r s ,
Omaha, N e b r a s k a , for a p p r o v a l t o
r e t a i n e a c h of t h e i r p r o p o r t i o n a t e
o w n e r s h i p i n t e r e s t in W e l d S t a t e
Co m p a n y , Ft. Lupton, C o l o r a d o , of
18 . 0 3 percent.
Not A v a i l a b l e
Jay D. Peters, Ma r t e l l , N e b r a s k a ,
for prior a p p r o v a l t o i n c r e a s e his
p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t in
M a r t e l l F i n a n c i a l S e r v i c e s , Inc.,
M a r t e l l , N e b r a s k a , by 95.2 p e r c e n t
t o 100 percent.
J u l y 26, 1989
Fi r s t U n i v e r s a l B a n c o r p o r a t i o n ,
Inc., A u r o r a , C o l o r a d o , for p r i o r
a p p r o v a l to a c q u i r e a n d m e r g e w i t h
P i o n e e r B a n c o r p o r a t i o n , Inc.,
Denv e r , Color a d o , p a r e n t of C i t y
C e n t e r N a t i o n a l Bank, A u r o r a ,
Colorado.*
J u l y 26, 1989
Federal Reserve Bank of Kansas City
Dennis S c h a r d t , D e s hler, Nebraska,
for prior a p p r o v a l to a c q u i r e a
39.47 p e r c e n t o w n e r s h i p inte r e s t in
Gibbon E x c h a n g e Company, Gibbon,
N e b r a s k a ; R o n a l d Schardt, Deshler,
N e b r a s k a , for pr i o r approval to
a c q u i r e _.67 p e r c e n t ; Superior
Deshler C o m p a n y , Deshler, Nebraska,
for p r i o r a p p r o v a l to a c q u i r e 4.94
percent; V I E C o m pany, Deshler,
N e b r a s k a , for p r i o r a p proval t o
a c q u i r e 4.94 pe r c e n t ; and S&S
I n d u s t r i e s , Inc., Deshler,
N e b r a s k a , for p r i o r a p proval to
a c q u i r e .65 p e r c e n t .
J u l y 26, 1989
C r o s s w h i t e B a n k s h a r e s , Inc.,
Denver, C o l o r a d o , for prior
a p p r o v a l to b e c o m e a bank h o l d i n g
company t h r o u g h the a c q u i s i t i o n of
98.5 p e r c e n t of the v o t i n g shares
of R o c k y F o r d N a t i o n a l Bank, R o c k y
Ford, C o l o r a d o . *
J u l y 20, 1989
Eri e B a n k s h a r e s , Inc., Erie,
Kansas, for p r i o r a p p roval to
a c q u i r e a n d m e r g e w i t h Chetopa
S t a t e B a n c s h a r e s , Inc., Chetopa,
Kansas, p a r e n t of Chetopa State
Bank & T r u s t Co., Chetopa, Kansas;
First N e o d e s h a B a n c s h a r e s , Inc.,
N e o d e s h a , K a n s a s , parent of First
N e o d e s h a B a n k , N e o d e s h a , Kansas;
and N e o s h o C o u n t y B a n c s hares, Inc.,
Chanute, K a n s a s , p a r e n t of Bank of
Comme r c e , C h a n u t e , Kansas.*
J u l y 20, 1989
Don D e n n i s , Grady, Oklahoma, for
ap p r o v a l t o r e t a i n his
p r o p o r t i o n a t e o w n e r s h i p interest in
C i t i z e n s C o m m e r c e Corporatio n ,
Ar d m o r e , O k l a h o m a , of 10.50
percent.
J u l y 20, 1989
C e n t r a l of K a n s a s , Inc., Jun c t i o n
City, K a n s a s , for prior approval t o
i n d i r e c t l y a c q u i r e 100 perce n t of
the v o t i n g s h a r e s of The Du r h a m
State B a n k , D u r h a m , Kansas.*
J u l y 17, 1989
Federal Reserve Bank of Kansas City
R i c k L. C a r u t h e r s , R o n a l d R.
H a d w i g e r , L a r r y Hammer, Lyle
Hawkins,_ a n d Ear l W. Morgan, all of
C h e r o k e e , O k l a h o m a , and O r v e l H.
F e l l e r s a n d R a y N. Smith, bo t h of
B r yon, O k l a h o m a , for a p p r o v a l as a
g r o u p t o r e t a i n their p r o p o r t i o n a t e
o w n e r s h i p i n t e r e s t in F a r m e r s
E x c h a n g e B a n c o r p o r a t i o n , Inc.,
C h e r o k e e , O k l a h o m a , of 84.7
percent.
J u l y 20, 1989
F a r m e r s B a n c s h a r e s of O b e r l i n ,
Inc., O b e r l i n , Kansas, for p r i o r
a p p r o v a l to b e c o m e a bank h o l d i n g
c o m p a n y t h r o u g h the a c q u i s i t i o n of
80 p e r c e n t of the v o t i n g s h a r e s of
T h e F a r m e r s N a t i o n a l B a n k of
O b e r l i n , Ob e r l i n , K a n s a s . *
J u l y 17, 1989
SECTION III - APPLICATIONS SPBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION
C O M M E N T P E R I O D E N D I N G DATE
None.
SECTION IV - APPLICATIONS NOT SPBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
APPLICATION
W e l d S t a t e C o mpany, Ft. Lupton,
C o l o r a d o , for a p p r o v a l t o r e t a i n
2 , 8 6 8 . 7 9 s h a r e s of its o w n v o t i n g
c o m m o n stock.
Colwich Financial Corporation,
C o l w i c h , Kansas, for prior a p p r o v a l
t o r e d e e m 2 , 1 7 0 s h ares of its o w n
v o t i n g c o m m o n stock.
♦ A p p l i c a t i o n is subject to CRA.
FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN
APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF JULY 10, 1989
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION
NOTICE EXP
♦Section 18(c) application received from
Texas Commerce Bank-Rio Grande Valley, Brownsville, TX
to merge with failed National Bank of Commerce of Brownsville,
Brownsville, TX
none
required
♦Section 9 application received from
Texas Commerce Bank-Rio Grande Valley, Brownsville, TX
to establish a branch at 2300 Boca Chica, Brownsville, TX
none
required
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION
** NOTICE EXP
♦Section 3(a)(1) application by
Surety Capital Corporation, Fort Worth, TX
to acquire Texas National Bank of Lufkin, Lufkin, TX
89/08/03
Change in Control Notice by
Harold P. Pfeiffer, La Porte, TX, to acquire an
interest in Bay Bancshares, Inc., La Porte, TX
89/07/16
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION
NOTICE EXP
None.
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
APPLICATION
None.
* SUBJECT TO CRA.
** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY.
N/A - NOT AVAILABLE AT THIS TIME.
FEDERAL RESERVE BANK OF SAN FRANCISCO
Week ending 7/14/89
Section I - Applications Subject to Newspaper Notice Only
Application
Comment Period Ending Date
None
Section II - Applications Sub.iect to Both
Newspaper and Federal Register Notice
Palm Desert Investments, Indian Wells,
California, to become a bank holding
company through the acquisition of at
least 25 percent of Palm Desert National
Bank, Palm Desert, California. *
Newspaper:
Not available
Fed. Req.:
8/09/89
Banco Nacional de Mexico, et. al., Mexico
City, Mexico, to acquire American National
Bank-Post Oak, Houston, Texas. *
Newspaper:
8/12/89
Fed. Req.:
8/11/89
Alvin C. Rice, Santa Rosa, California, to
increase his voting interest in Marin
National Bancorp, San Rafael, California,
from 0.24 to 37.55 percent.
Newspaper:
8/02/89
Fed. Req.:
8/04/89
Section III - Applications Sub.iect to Federal Register Notice Only
Sterling Bancorporation, Los Angeles,
California, to expand the geographic area
served by Sterling Business Credit, Inc.,
a commercial finance subsidiary, to include
the entire United States.
Fed. Reg.:
8/07/89
Bank of Tokyo, Tokyo, Japan, to engage in
making, acquiring, or servicing loans or
other extensions of credit through BOT
(Latin America), Inc.
Fed. Reg.:
8/07/89
Standard Chartered PLC, London, England, to
engage de novo in the purchase and sale of
platinum coins through Mocatta Metals
Corporation, New York, New York.
Fed. Reg.: Not yet published
Section IV - Applications Not Sub.iect to Federal Register Notice
or Newspaper Notice
None
★
Subject to CRA.
@FedFRASER