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ANNOUNCEMENT H.2, 1988, No. 27 Actions of the Board, its Staff, and the Federal Reserve Banks; Applications and Reports Received During the Week Ending July 2, 1988. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ACTIONS TAKEN BY THE BOARD OF GOVERNORS BANK HOLDING COMPANIES National City Corporation# Cleveland# Ohio — to acquire First Kentucky National Corporation# Louisville# Kentucky# and its subsidiary banks. Approved# June 27# 1988. Norwest Corporation# Minneapolis — to acquire PB Bancorp of Cedar Rapids# Inc.# Cedar Rapids# and Peoples Bank and Trust Company. Approved# June 27# 1988. REGULATIONS AND POLICIES Bank holding companies* use of healthy assets to support bank affiliates in financial difficulty — comments on recommendation by the Federal Deposit Insurance Corporation. Approved# June 27# 1988. RESERVE BANK OPERATIONS Audit committee duties and responsibilities. Approved# July 1# 1988. ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY ABBREVIATIONS: BS&R - Banking Supervision and Regulation; C&CA - Consumer and Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve Bank Operations; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC Richmond Central Fidelity Bank# Richmond# Virginia — to establish a branch at 230 East Little Creek Road# Norfolk, Virginia. Approved# July 1# 1988. Cleveland The Central Trust Company# Newark# Ohio — to establish a branch at 37 North Street# Columbus# Ohio. Approved# June 27# 1988. New York Chemical Bank# New York# New York — to establish a branch at the IBM Corporation# Route 100# Somers# New York. Approved- fune 30# 1988. H.2 JUNE 26, 1988 PAGE 2 TO JULY 1, 1988 ACTXONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Richmond Fairfax Bank & Trust Company, Fairfax, Virginia — to establish a branch at 14260 - J Centreville Square, Centreville, Virginia. Approved, June 30, 1988. Richmond Farmers and Miners Bank of Lee County, Pennington Gap, Virginia — to establish a branch a quarter of a mile south of the intersection of U.S. Route 23 and U.S. Route 421, Weber City, Virginia. Approved, July 1, 1988. Atlanta Sovran Bank / Central South, Nashville, Tennessee — to establish a branch at Saturn, Highway 31, Spring Hill, Tennessee. Approved, July 1, 1988. BANK HOLDING COMPANIES St. Louis Bootheel Bancorp, Inc., Bernie, Missouri — to engage de novo in real estate appraisals through Semo Bancshares Corp. Permitted, June 30, 1988. Chicago Britt Bancshares, Inc., Britt, Iowa — First State Bank. Approved, June 30, 1988. Cleveland Cardinal Bancshares, Inc., Lexington, Kentucky, and Cardinal Subsidiary Corporation — to acquire Harco Bancshares, Inc., Harlan, Kentucky. Approved, June 28, 1988. San Francisco CoBank Financial Corporation, San Luis Obispo, California — to engage de novo in lending and servicing activities. Permitted, June 26, 1988. Kansas City Colorado Western Bancorp, Inc., Montrose, Colorado to acquire First National Bank of Montrose. Approved, June 29, 1988. to acquire H.2 JUNE 26, 1988 PAGE 3 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Community Bankshares, Inc., Cornelia, Georgia— to engage de novo in loan activities through Community Family Credit, Inc. Permitted, July 1, 1988. Minneapolis Firstmondovi, Inc., Mondovi, Wisconsin — Bank of Mondovi. Approved, July 1, 1988. Kansas City FirstMorrill Co., Omaha, Nebraska — to acquire Security State Bank, Ansley, Nebraska. Approved, July 1, 1988. Richmond F & M Bank Corp., Timberville, Virginia — to engage de novo in credit related insurance through TEB Life Insurance Company. Permitted, June 30, 1988. Minneapolis GEBSCO, INC., Cochrane, Wisconsin — to acquire Firstmondovi, Inc., Mondovi, Wisconsin. Approved, July 1, 1988. Dallas Gustine - Deleon Bancshares, Inc., Gustine, Texas — to acquire The First State Bank. Approved, July 1, 1988. Cleveland Harco Bankshares, Inc., Harlan, Kentucky — to acquire The Guaranty Deposit Bank, Cumberland, Kentucky, and Cole Holding Company, Harlan, Kentucky. Approved, June 28, 1988. Chicago Hasten Bancorp, Indianapolis, Indiana — to acquire Sullivan State Bank, Sullivan; Peoples State Bank, Farmersburg; First Bank and Trust Company of Clay County, Brazil; Farmers Banc, Inc., Tipton, Indiana, and Farmers Loan and Trust Company. Approved, June 29, 1988. San Francisco Home Interstate Bancorp, Signal Hill, California, and Pacific Western Bancshares, San Jose, California — to engage in data processing through Bancorp Capital Group, Inc., Irvine, California. Returned, June 29, 1988. to acquire H.2 JUNE 26, 1988 PAGE 4 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Pasco Financial Corporation, Dade City, Florida — acquire First National Bank of Pasco. Withdrawn, June 30, 1988. Chicago Tripoli Bancshares, Inc., Tripoli, Iowa — First State Bank, Britt, Iowa. Approved, June 30, 1988. to to acquire BANK MERGERS Atlanta Sovran Bank / Central South, Nashville, Tennessee — to merge with Sovran Bank / Williamson County, Franklin, Tennessee. Approved, July 1, 1988. BANK PREMISES Richmond American Bank, Newport News, Virginia — in bank premises. Approved, June 28, 1988. investment Chicago Bankers Trust Company, Des Moines, Iowa — in bank premises. Returned, June 30, 1988. Chicago Davenport Bank and Trust Company, Davenport, Iowa — investments in bank premises. Approved, June 30, 1988. Chicago Marine American State Bank, Bloomington, Illinois — investment in bank premises. Approved, June 30, 1988. Philadelphia Meridian Bank, Reading, Pennsylvania — bank premises. Approved, June 30, 1988. Chicago State Bank of St. Charles, St. Charles, Illinois — investment in bank premises. Approved, June 30, 1988. investment investment in H.2 JUNE 26, 1988 PAGE 5 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CAPITAL STOCK Chicago Mid - Iowa Bancshares, Co., Algona, Iowa redemption of shares. Approved, June 29, 1988. CHANGE IN BANK CONTROL Minneapolis Firstmondovi, Inc., Mondovi, Wisconsin — bank control. Permitted, July 1, 1988. change in Kansas City Holyoke Bancorp, Inc., Holyoke, Colorado — bank control. Permitted, July 1, 1988. Kansas City Quivira Banc Shares, Sterling, Kansas — bank control. Permitted, June 27, 1988. Minneapolis Signal Bancshares, Inc., West St. Paul, Minnesota change in bank control. Permitted, June 28, 1988. change in change in COMPETITIVE FACTORS REPORTS Atlanta The Bank of Soperton, Soperton, Georgia, proposed merger with Soperton Interim — report to the Federal Deposit Insurance Corporation on competitive factors. Submitted, June 27, 1988. Dallas Citizens State Bank, Royse City, Texas, proposed merger with Independent Bank * East, N.A., Rockwall, Texas — report to the Comptroller of the Currency on competitive factors. Submitted, July 1, 1988. Cleveland Commercial National Bank, Tiffin, Ohio, proposed merger with The Fifth Third Bank of Northwestern Ohio, National Association, Findlay, Ohio — report to the Comptroller of the Currency on competitive factors Submitted, June 27, 1988. H.2 JUNE 26, 1988 PAGE 6 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Philadelphia Community National Bank, Shamokin, Pennsylvania, proposed purchase of the assets and assumption of the liabilities of the Commonwealth National Bank Branch Office, New Holland, Pennsylvania — report to the Comptroller of the Currency on competitive factors• Submitted, June 30, 1988. New York Ellenville National Bank, Ellenville, New York, proposed merger with Ellenville Interim, National Association — report to the Comptroller of the Currency on competitive factors. Submitted, June 28, 1988. Atlanta First American National Bank, Knoxville, Tennessee, proposed merger with First American National Bank, Rockwood, Tennessee — report to the Comptroller of the Currency on competitive factors. Submitted, June 28, 1988. New York The First Jersey National Bank, Jersey City, New Jersey, proposed merger with The First Jersey National Bank/Central, Trenton, New Jersey, and The The First Jersey National Bank / South, Atlantic City, New Jersey — report to the Comptroller of the Currency on competitive factors. Submitted, June 29, 1988. Chicago First Midwest Bank, National Association, Waukegan, Illinois, proposed purchase of the assets and assumption of the liabilities of First Midwest Bank / Lake County', Mundelein, Illinois, and First Midwest Bank / Zion, Zion, Illinois — report to the Comptroller of the Currency on competitive factors. Submitted, June 28, 1988. Chicago First Midwest Bank / Illinois, National Association, Joliet, Illinois, proposed purchase of the assets and assumption of the liabilities of First Midwest Bank / Central Region, National Association — report to the Comptroller of the Currency on competitive factors. Submitted, June 28, 1988. H .2 JUNE 26, PAGE 7 1988 TO JU LY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Cleveland First National Bank of Southwestern Ohio, Monroe, Ohio, proposed purchase of the assets and liabilities of the Landen and Mason Branch Offices of The Provident Bank, Cincinnati, Ohio — report to the Comptroller of the Currency on competitive factors. Submitted, June 27, 1988. Dallas First National Bank South, Huntsville, Texas, proposed merger with First National Bank of Huntsville — report to the Comptroller of the Currency on competitive factors. Submitted, July 1, 1988. Cleveland First United National Bank, Fryburg, Pennsylvania, proposed merger with FUNB National Bank — report to the Comptroller of the Currency on competitive factors. Submitted, June 27, 1988. S t . Louis luka Guaranty Bank, Iuka, Mississippi, proposed acquisition of the assets and assumption of liability to pay deposits in the Tishomingo Branch of Deposit Guaranty National Bank, Jackson, Mississippi — report to the Federal Deposit Insurance Corporation on competitive factors. Submitted, June 30, 1988. Chicago Mahaska State Bank, Oskaloosa, Iowa, proposed merger with Farmers Savings Bank, North English, Iowa — report to the Federal Deposit Insurance Corporation on competitive factors. Submitted, June 30, 1988. New York The ONB National Bank, Clifton Springs, New York, proposed merger with The Ontario National Bank of Clifton Springs — report to the Comptroller of the Currency on competitive factors. Submitted, June 29, 1988. H.2 JUNE 26, 1988 PAGE 8 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS San Francisco Southwest Bank, Vista, California, proposed merger with Southwest Thrift & Loan Association — report to the Federal Deposit Insurance Corporation on competitive factors. Submitted, June 27, 1988. EXTENSIONS OF TIME Minneapolis Bank Shares Incorporated, Minneapolis, Minnesota — extension to September 25, 1988, to engage de novo in loan activities, nationwide. Granted, June 28, 1988. Atlanta CNB, Inc., Lake City, Florida — extension to September 28, 1988, to acquire Citizens Bank of Live Oak, Live Oak, Florida. Granted, June 30, 1988. Chicago Comerica Incorporated, Detroit, Michigan — extension to October 1, 1988, to engage de novo in money orders and other instruments. Granted, June 28, 1988. Philadelphia CoreStates Financial Corp., Philadelphia, Pennsylvania — extension to October 9, 1988, to acquire The Montgomery National Bank, Rocky Hill, New Jersey. Granted, June 28, 1988. New York Eastcorp, Inc., New York, New York — extension to September 30, 1988, to acquire Eastbank, N.A. Granted, June 30, 1988. San Francisco First Interstate Bancorp, Los Angeles, California — extension to divest certain properties. Granted, July 1, 1988. Richmond First United Bancorporation, Anderson, South Carolina — extension to September 12, 1988, to acquire Spartanburg National Bank, Spartanburg, South Carolina. Granted, July 1, 1988. K.2 JUNE 26, 1988 PAGE 9 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TINE Boston Fleet / Norstar Financial Group, Inc., Albany, New York — extension to September 29, 1988, to engage in gold and silver bullion activities. Granted, June 30, 1988. Atlanta Governors Bank Corporation, Wdst Palm Beach, Florida — extension to September 26, 1988, to acquire Governors Bank. Granted, June 30, 1988. San Francisco Landmark Bancorp, La Habra, California — extension to October 3, 1988, to engage de novo in mortgage servicing through Excelmark Mortgage Services, Inc Granted, July 1, 1988. Philadelphia Meridian Bank, Reading, Pennsylvania — extension to January 25, 1989, to open the branch at SchaumTs Corner, Intersection of Routes 272 and 772 West Earl Township, Pennsylvania. Granted, June 30, 1988. INTERNATIONAL OPERATIONS Staff Director BS&R Irving International Financing Corporation, New York New York — to make an additional investment in Trans City Holdings Limited, Sydney, Australia. Permitted, June 27, 1988. Secretary Irving Trust Company, New York, New York — to purchase certain assets and assume certain liabilities of a branch of Continental Illinois National Bank & Trust Company of Chicago, Chicago, Illinois, located in Seoul, Korea. Approved, June 27, 1988. Staff Director BS&R Irving Trust Company, New York, New York — establish a branch in Seoul, Korea. Approved, June 27, 1988. Staff Director BS&R Manufacturers Hanover International Finance Corporation, New York, New York — to invest in Companhia Suzano de Papel e Celulose, Sao Paulo, Brazil. Permitted, June 27, 1988. to H.2 JUNE 26, 1988 PAGE 10 TO JULY 1, 1988 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY REGULATIONS AND POLICIES Secretary FOMC Federal Open Market Committee — the meeting of May 17* 1988. Published* July 1* 1988. policy record for RESERVE BANK OPERATIONS Director^ FRBO Federal Reserve Bank of San Francisco — increase in budget for Los Angeles Branch’s building project. Approved* June 29* 1988. ADDITIONS AND CORRECTIONS H.2 JUNE 26, 1988 PAGE 11 TO JULY 1, 1988 ACTIONS TAKEN BY THE BOARD OF GOVERNORS RESERVE BANK OPERATIONS Federal Reserve Rank of New York — appointment of James H. 01tman as First Vice President. Approved* June 16, 1988. ADDITIONS AND CORRECTIONS ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Richmond Bank of Northern Virginia, Arlington, Virginia — establish a branch at 2230 Wilson Boulevard, Arlington, Virginia. Approved, June 23, 1988. to BANK HOLDING COMPANIES New York The Bank of Tokyo Ltd., Tokyo, Japan — to acquire Nissei Bot Asset Management Corporation, New York, New York. Approved, June 20, 1988. Atlanta Financial Services Bancorp, Inc., Miami, Florida — to acquire Eagle Bank of Broward, N.A., Fort Lauderdale, Florida. Withdrawn, June 18, 1988. FEDERAL RESERVE BANK OF BOSTON APPLICATIONS SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Application Content Period Ending Date NONE SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Ccnment Period Ending Date Fleet/Norstar Financial Group, Inc., Providence, Rhode Island 3(a)(3) application to acquire Fleet Bank of New Hampshire, Nashua, New Hampshire, a de novo bank** Newspaper Mercantile Capital Corp., Boston, Massachusetts - 3(a)(1) application to becane a bank holding company through the acquisition of Mercantile Bank and Trust Company, Boston Massachusetts** Newspaper Granite State Bankshares, Inc., Keene, New Hampshire - 3(a) (5) application to acquire First Peterborough Bank Corp., Peterborough, New Hampshire** Newspaper Fleet/Norstar Financial Group, Inc., Providence, Rhode Island - 3(a)(3) application to retain Fleet/Norstar New York, Inc., Providence, Rhode Island** Newspaper Fleet/Norstar New York, Inc., Providence, Rhode Island 3(a)(1)/4(c)(8) application to retain Norstar Bank of Upstate New York, Albany, New York; Norstar Bank, N.A., Buffalo, New York; Norstar Bank of Central New York, Syracuse, New York; LI Holding Company, Hempstead, New York and thirteen nonbank subsidiaries** Newspaper **Subject to CRA Federal Register Federal Register Federal Register Federal Register Federal Register 07-07-88 Not Yet Established 07-14-88 Not Yet Established 07-15-88 07-18-88 Not Yet Established 07-29-88 Not Yet Established 07-29-88 Not Yet Established FEDERAL RESERVE BANK OF BOSTON APPLICATIONS (Cont'd) SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Ccnroent Period Ending Date Fleet/Norstar Financial Group, Federal Register Not Yet Established Federal Register Not Yet Established Inc., Providence, Rhode Island 4(c)(8) application to engage in underwriting and dealing in certain securities through Adams, McEntee & Co., Inc. Wainwright Capital Corp., Boston, Massachusetts - 4(c)(8) application to retain ownership of at least 83.3% of the voting shares of Internation Heritage Corp., Boston, Massachusetts SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER OR NEWSPAPER NOTICE Application NONE Federal Reserve Bank of New York C e m e n t Period Ending Date SECTION I Applications Subject to Newspaper ____________ Notice Only__________ United Jersey Bank, Hackensack, New Jersey to merge with United Jersey Bank/Edgewater National, Englewood Cliffs, New Jersey.1/ 7/22/88 SECTION II Applications Subject to Both Newspaper and Federal Register Notice Delaware Bancshares, Inc., Walton, New York to become a bank holding company with respect to Ihe National Bank of Delaware County, Walton, Walton, New York.l/ 7/15/88 2/ Apple Bancorp, Inc., New York, New York to became a bank holding ccmpany with respect to Apple Bank for Savings, New York, New York.l/ 7/23/88 2/ Banco Bilbao-Vizcaya, S.A., Bilbao, Spain to become a bank holding company with respect to Banco Comercial de Mayaguez, Mayaguez, Puerto Rico.l/ 7/21/88 2/ Public Bank Holding Company, Inc., New York, New York to become a bank holding company with respect to The First Women's Bank, New York, New York.l/ 7/29/88 3/ Community Bank System, Inc., Dewitt, New York to merge with CcmuniCorp, Inc., Addison, New York and thereby to acquire Community National Bank, Addison, New York.l/ 8/1/88 3/ 1/ 2/ 3/ Subject to provisions of Community Reinvestment Act. Later of dates specified in newspaper and Federal Register notices. Date specified in newspaper notice; a later date may be specified in the Federal Register notice. N/A - Not Available Federal Reserve Bank of New York Comment Period Ending Date SECTION III Noribanking Applications (Subject to Federal Register Notice Only) The Fuji Bank Ltd., Tokyo, Japan to acquire 24.9% of the shares of KLeinwort Benson Government Securities, Inc., Chicago, Illinois, a primary dealer in U.S. Government securities. 7/25/88 SECTION IV Applications Not Involving ______ Public Comment______ None. FEDERAL RESERVE BANKOF PHILADELPHIA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date Meridian Bank. Reading, PA offsite electronic banking located at the Super Fresh Route 611 and London Road, to establish an facility to be Food Market, Abington, PA. 7/22/88 SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date Commerce Bancorp. Inc.. Cherry Hill, New Jersey to acquire up to 24.9% of the voting shares of Commerce Bank/Harrisburg, Camp Hill, Pennsylvania pursuant to Section 3(a)(3) of the Bank Holding Company Act. Newspaper: Federal Register: 7/25/88 7/27/88 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 Ten Independence Mall, Philadelphia, PA 19106, (2T5) 574-6000 Cleveland Reserve Bank Applications F o r W e e k E n d i n g J u l y 2, 1988 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY NONE S E C T I O N II - A P P L I C A T I O N S NEWSPAPER AND FEDERAL SUBJECT TO BOTH REGISTER NOTICE APPLICATION COMMENT PERIOD ENDING R e c e i v e d N o t i c e o f C h a n g e in B a n k C o n t r o l f r o m * - Not Yet Available A l a n S. F e l l h e i m e r a n d J u d i t h E. F e l l h e i m e r , S e w i c k l e y H e i g h t s , P e n n s y l v a n i a ; C l a i r e W. G a r g a l l i , Pittsburgh, Pennsylvania; Henry Posner, Pittsburgh, P e n n s y l v a n i a ; D a v i d A. G r a d n e r , N e w Y o r k , N e w Yor k ; J a m e s H. M c L a u g h l i n , P i t t s b u r g h , P e n n s y l v a n i a ; C h a r l e s G. C h e l e d e n , H o r s h a m , P e n n s y l v a n i a ; G e o r g e F. E i c h l e a y , P i t t s b u r g h , P e n n s y l v a n i a ; D a v i d J. East, P i t t s b u r g h , P e n n s y l v a n i a ; S. R a y m o n d R a c k o f f , P i t t s b u r g h , P e n n s y l v a n i a ; J u d i t h E. Y a n k o v i c , R o b i n s o n T o w n s h i p , P e n n s y l v a n i a ; H o w a r d W. H a n n a , III, P i t t s b u r g h , P e n n s y l v a n i a ; J. B r u c e J o h n s t o n , M c M u r r a y , P e n n s y l v a n i a ; W i l l i a m F. J o n e s , Jr., W e x f o r d , P e n n s y l v a n i a ; P a t r i c i a A. M u l d o o n , P i t t s b u r g h , P e n n s y l v a n i a ; D e n n i s F. K e n n e d y , S e w i c k l e y , P e n n s y l v a n i a ; R o b e r t C. P a y m e n t , B u t l e r , P e n n s y l v a n i a ; Dennis Pitocco, Pittsburgh, Pennsylvania; E m e r s o n M. W i c k w i r e , S e w i c k l e y , P e n n s y l v a n i a ; a n d N i c h o l a s J. Z e n n a r i o , W e x f o r d , P e n n s y l v a n i a , o f t h e i r i n t e n t i o n t o c o n t r o l c o l l e c t i v e l y u p to 25 . 0 p e r c e n t o f t h e v o t i n g s e c u r i t i e s o f E q u i m a r k Corporation, Pittsburgh, Pennsylvania. R e c e i v e d N o t i c e o f C h a n g e in B a n k C o n t r o l f r o m A l a n S. F e l l h e i m e r arid J u d i t h E. F e l l h e i m e r for p e r m i s s i o n t o c o n t r o l u p to 16.0 p e r c e n t o f t h e v o t i n g securi t i e s of E q u i m a r k Corporation, Pittsburgh, Pennsylvania. * - Subject to CRA * - Not Yet Available S E C T I O N III - A P P L I C A T I O N S SUBJECT TO FEDERAL REGISTER NOTICE ONLY NONE SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE NONE Federal Reserve Bank of Richmond Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Bank of Gassaway, Gassaway, West Virginia, request for permission to establish an Electronic Funds Transfer Facility in the Go-Mart Truck Stop located on Route 19, Flatwoods, West Virginia. 7-20-88 Resource Bank, Virginia Beach, Virginia, for membership in the Federal Reserve System. 7-21-88 United Bank and Trust Company of Maryland, Upper Marlboro, Maryland, request for permission to establish a branch at 10450 Lottsford Road, Mitchellville, Maryland. 7-22-88 Signet Bank/Maryland, Baltimore, Maryland, request for permission to establish a branch at 8610 Baltimore Washington Boulevard, Jessup, Maryland. 7-22-88 The Marathon Bank, Stephens City, Virginia, for membership in the Federal Reserve System. Not Available Bank of the Potomac, Herndon, Virginia, for membership in the Federal Reserve System. 8-5-88 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Southeastern Bancorp, Inc., Greeleyville, South Carolina, for prior approval to become a bank holding company through the acquisition of Bank of Greeleyville, Greeleyville, South Carolina. 7-22-88 Provident Bankshares Corporation, Baltimore, Maryland, for prior approval to acquire First Security Bank of Maryland, Baltimore, Maryland, a de novo bank. 7-25-88 The above applications are subject to the Community Reinvestment Act. Federal Reserve Bank of Richmond Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date None Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None ♦Expiration of comment period specified in the Federal Register. July 4, 1988 Federal Reserve Bank of Atlanta Applications Bulletin Section I - Applications Subject to Newspaper Notice Only Application Catttnent Period Ending Date Southeast Bank of Gainesville 07-25-88 (CRA) Gainesville, Florida To establish a minimal service branch at 2431 N.W. 41st Street, Gainesville, Florida, to be known as The Atrium Banking Center. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Financial Services Bancorp, Inc. Miami, Florida 1-BHC formation, Eagle National Holding Company, Miami, Florida. Terrabank Holding Corporation 07-24-88 Miami, Florida Newspaper 1-BHC formation, Terrabank National Association, Miami, Florida. University National Bankshares, Inc. Orlando, Florida 1-BHC formation, University National Bank, Orlando, Florida (in organization). CB&T Bancshares, Inc. 07-08-88 Columbus, Georgia Federal Register and Newspaper To acquire Fort Rucker Bancshares, Inc., Chillicothe, Missouri, and indirectly acquire its banking subsidiary, Fort Rucker National Bank, Fort Rucker, Alabama. Catmex Financial Corporation Kennesaw, Georgia 1-BKC formation, Commercial Exchange Bank, Kennesaw, Georgia. Dahlonega Bancorp, Inc. Dahlonega, Georgia To acquire First National Bank of Polk County, Copperhill, Tennessee. Soperton Bancshares, Inc. 07-25-88 Soperton, Georgia Newspaper 1-BHC formation, The Bank of Soperton, Soperton, Georgia. July 4, 1988 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Forest Bancorp Forest, Mississippi To acquire 20 percent of Metropolitan Corporation, Bilced., Mississippi. Jackson County Bancorp, Inc. Gainesboro, Tennessee 1-BHC formation, Jackson County Bank, Gainesboro, Tennessee. Section III - Applications Subject to Federal Register Notice Only Application Contnent Period Ending Date First Florida Banks, Inc. 07-15-88 Tampa, Florida Federal Register Joint with 7L Corporation, Tampa, Florida to acquire First Management Group, Inc., Tampa, Florida, and Florida Asset Management Group, Inc., Tampa, Florida, and engage de novo in financial services and other management services, pursuant to sections 225.25(b) (11) and (b) (23) of Regulation Y. CB&T Bancshares, Inc., 07-25-88 Columbus, Georgia Federal Register Joint venture with 7 other Applicants to expand the activities of Georgia Interchange Network, Inc., Atlanta, Georgia, to include management consulting activities, pursuant to section 225.25(b) (11) of Regulation Y. Northwest Georgia Financial Corporation 07-21-88 Dallas, Georgia Federal Register To acquire Citizens Guaranty Mortgage Company, Dallas, Georgia, and engage de novo in the origination of mortgage loans, pursuant to section 225.25(b) (1) (iii) of Regulation Y. Federal Reserve Bank of Chicago Section I - Applications Subject to Newspaper Notice Only Type Application Comment Period Ending Date None Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-2 Northwest Illinois Bancorp, Inc. Freeport, Illinois First State Financial Corporation of Rockford Rockford, Illinois First State Bank and Trust Company Rockford, Illinois 5-30-88* 7-8-88** Y-l NWIB Acquisition Corporation, Inc. Freeport, Illinois First State Financial Corporation of Rockford Rockford, Illinois First State Bank and Trust Company Rockford, Illinois 5-30-88* 7-8-88** CoC-HC Madison Financial Corporation 7 -8 -88 ** Chicago, Illinois A. Andrew & Flora, Andrew A. & Pam Boemi, Edwin C. & Marcia Buchanan Y-2 Mid-Citco Incorporated Chicago, Illinois Union Bank and Trust Company Oklahoma City, Oklahoma 7-21-88** Y-l Western Illinois Bancorp, Inc. Chicago, Illinois The First National Bank in Blandinsville Blandinsville, Illinois 7-21-88** Y-2 Edgewood Bancshares, Inc. Countryside, Illinois EdgeMark Financial Corporation Countryside, Illinois EdgeMark Bank-Lombard Lombard, Illinois Cosmopolitan Financial Services, Inc. Countryside, Illinois First National Bank of Lockport Lockport, Illinois Merchandise National Bank of Chicago Chicago, Illinois EdgeMark Bank-Rosemont Rosemont, Illinois 7-21-88** 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 First of America Bank Corporation Kalamazoo, Michigan The State Savings Bank of South Lyons South Lyons, Michigan Y-l Kansas Banc Corporation Kansas, Illinois Kansas State Bank Kansas, Illinois Y-2 Shelby County Bancorp, Inc. Shelbyville, Illinois Strasburg State Bank Strasburg, Illinois 6-24-88** 6-25-88* Y-2 First Wisconsin Corporation Milwaukee, Wisconsin Century Bancorp, Inc. Circle Pines, Minnesota Centennial Bank Circle Pines, Minnesota 7-1-88** 7-7-88* Y-2 First Merchants Corporation Muncie, Indiana Pendleton Banking Company Pendleton, Ind iana N/A Y-2 Iroquois Bancorp, Inc. Gilman, Illinois Terrapin Bancorp, Inc. Elizabeth, Illinois The Elizabeth State Bank Elizabeth, Illinois N/A Y-2 Peotone Bancorp, Inc. Peotone, Illinois Terrapin Bancorp, Inc. Elizabeth, Illinois The Elizabeth State Bank Elizabeth, Illinois N/A Y-2 Terrapin Bancorp, Inc. Gilman, Illinois The Elizabeth State Bank Elizabeth, Illinois N/A 7-20-88** 6-3-88** 7-12-88* Federal Reserve Bank of Chicago Section II - Applications Subject to Both newspaper and Federal Register Notice Continued Application FNBH Bancorp, Inc. Howell, Michigan First Rational Bank in Howell Howell, Michigan Havana Bancshares, Inc, Springfield, Illinois State Bank of Havana Havana, Illinois CDiriment Period Ending Date 6- 10- 88* * 7-11-88* 7-6-88** 7-9-88* Old Kent Financial Corporation Grand Rapids, Michigan Unibancorp, Inc. Chicago, Illinois Unibanctrust Company Chicago, Illinois Unibanctrust/Hawthome Wheaton, Illinois Unibanctrust/DuPage Lostant, Illinois Unibanc Brokerage Services, Inc. Chicago, Illinois 6- 17-88** 7- 22-88* Citizens State Bancorp, Inc. New Baltimore, Michigan Citizens State Savings Bank New Baltimore, Michigan 5-18-88** 7-22-88* Salin Bancshares of NorthCentral Indiana, Inc. Indianapolis, Indiana Carroll Financial Corporation Burlington, Indiana First Bank of Carroll County Burlington, Indiana 5-23-88** 7-22-88* Illini Community Bancorp, Inc. Springfield, Illinois SBV Bancshares, Inc. Virden, Illinois State Bank of Virden Virden, Illinois N/A Federal Reserve Bank of Chicago Section II - Applications Subject lo Both Newspaper and Federal Register Notice Continued Comment Period Ending Date Type Application Y-2 Lincoln Financial Corporation Fort Wayne, Indiana Peoples Bancshares Corporation Van Wert, Ohio The Peoples Bank and Trust Company Van Wert, Ohio 7-1-88** 6-21-88* Y-2 ANB Corporation Muncie, Indiana The Saratoga State Bank Saratoga, Indiana 7-6-88** 7-5-88* Y-l Hechanicsville Trust &Savings Bank, Trustee of The Hechanicsville Trust and Savings Bank Employee Stock Ownership Plan & Trust Hechanicsville, Iowa Hechanicsville Bancshares, Inc. Hechanicsville, Iowa N/A Y-2 Herchants National Corporation Indianapolis, Indiana BSB Bancorp Batesville, Indiana Batesville State Bank Batesville, Indiana N/A Y-2 First Herchants Corporation Huncie, Indiana Pendleton Banking Company Pendleton, Indiana 7-15-88* Type Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Application Y-4 Hichigan National Corporation Farmington Hills, Hichigan Second Commercial Fund, Inc. Bala Cynwyd, Pennsylvania N/A Y-4 Alta Vista Bancshares, Inc. Alta Vista, Iowa Alta Vista Insurance and Services Corporation Alta Vista, Iowa N/A Federal Reserve Bank of Chicago Section III - Applications Subject to Federal Register Hotice Only Comment Period Ending Date Application Type 4(c)(8) Comerica Incorporated Detroit, Michigan To engage in consumer financial counseling 7-15-88* ** Y-4 GL & ML, Limited Aplington, Iowa Meyer Insurance Agency Ap1ington, Iowa 7-21-88** Type Section IV - Applications Not Subject to Federal Register Notice Or Newspaper Notice Comment Period Ending Date Application None *Newspaper **Federal Register N/A - Not available at this time Federal Reserve Bank of St. Louis 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)(1) application by Worthington Bancshares, Inc., Indianapolis, Indiana, to acquire Worthington State Bank, Worthington, Indiana (Not available) SECTION III ~ APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Comment Period Ending Date None. SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Application* None. *This application is subject to CRA. FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to _______Newspaper Notice Only_______ Comment Period Ending Date Application First Bank System, Inc. Minneapolis, MN To engage in operating a general insurance agency through the ac quisition of Midwestern Brokerage, Inc., Willmar, MN. The activity will be conducted in Willmar, MN. 7-4-88 Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Application John D. Kelly To acquire control of 26.92 of the voting shares of Lamb's Bancorporation, Ltd, Michigan City, North Dakota. 7-21-88 (Federal Register) John L. Olson To acquire control of 312 of the voting shares of 1st United Bancorporation, Inc., Sidney, Montana. Not yet established Section III - Applications Subject to Federal Register Notice Only Application Lena Spitzer Limited Partnership Streeter, ND To continue to indirectly engage in operating a general insurance agency through the retention of its ownership interst in Streeter Insurance Agency, Inc., Streeter, ND. The activity will be con ducted in Streeter, ND.* * Subject to CRA Comment Period Ending Date Not yet established FEDERAL RESERVE BANK OF MINNEAPOLIS Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY C O M M E N T P E R I O D E N D I N G DATE APPLICATION A m e r i c a n B a n k of St. L o u i s ? St. Louis? M i s s o u r i ? for prior a p p r o v a l to m e r g e w i t h First F i n a n c i a l B a n k of St. C h a r l e s County? Lak e St. Louis? M i s s o u r i . * Not A v a i l a b l e 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 F i r s t B a n c o r p o r a t i o n of H o l d e n v i l l e ? I n c . ? Hol d e n v i l l e ? O k l a h o m a ? for prior a p p r o v a l to a c q u i r e 80 p e r c e n t of the v o t i n g s h a r e s of A l l i a n c e Bank? N.A.? O k l a h o m a City? O k l a h o m a . * Not Available B B O K B a n c s h a r e s ? Inc.? W i c h i t a ? Kansas? 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 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 100 p e r c e n t of the v o t i n g s h a r e s of B a n kers' B a n k of Kansas? N.A.? W i c h i t a , Kansas? a de nov o b a n k . * Not Avai l a b l e H e n r y Croak? M i d w e s t City? Oklah o m a , for ap p r o v a l to 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 of F i r s t M i d w e s t B a ncorp? Inc.? M i d w e s t City, Oklah o m a ? by 2.01 p e r c e n t to 24 . 6 4 percent. Not Available A m e r i b a n c , Inc.? St. Joseph? Misso u r i ? for prior a p p r o v a l to 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 F i r s t F i n a n c i a l B a n k of St. C h a r l e s C o u n t y , Lake St. Louis? Missouri.* Not Avai l a b l e C.N. Hoffman, Jr.? T o m L i l lard? Jr.? and C. L. Clark Trustees? Salina? Kansas? for prior a p p r o v a l to i n c r e a s e their p r o p o r t i o n a t e o w n e r s h i p of N B A B a n k s h a r e s ? Inc.? Salina? Kansas? b y 7.82 p e r c e n t to 30.06 perc e n t . Not A v a i l a b l e H i c k m a n C o r p o r a t i o n Hickman, N e b r a s k a , for p r i o r approval to b e c o m e a b a n k h o l d i n g com p a n y t h r o u g h t h e a c q u i s i t i o n of 100 p e r c e n t of t he v o t i n g shares of First S t a t e Bank, Hickman, Nebraska.* J u l y 15, J a c k V. C h r i s t e n s e n , C a s t l e Rock, C o l o r a d o , fo r a p p r o v a l to retain 23.86 p e r c e n t of the v o t i n g shar e s of T h e B a n k i n g G r o u p , Ltd., Castle Rock, C o l o r a d o . J u l y 20, 1 9 8 8 Dr. R. A. W h i t e n e c k , Woodward, O k l a h o m a , f o r a p p r o v a l to inc 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 of A m e r i c a n I n t e r s t a t e Bancshares, Inc., W o o d w a r d , Oklahoma, by .65 p e r c e n t to 23.64 percent. J u l y 20, 1 9 8 8 Cedar F i n a n c i a l Holding, Inc., Fordyce, N e b r a s k a , for p r ior 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 100 p e r c e n t of th e v o t i n g s h a r e s of Cedar S e c u r i t y Bank, Fordyce, Nebraska.* J u l y 21, 1988 F i n a n c i a l P a r t n e r s , Inc., Worland, W y o m i n g , for p r i o r approval to become a bank h olding company t h r o u g h th e a c q u i s i t i o n of 80 p e r c e n t of th e v o t i n g s h ares of S t o c k g r o w e r s S t a t e Bank, Worland, Wyoming.* J u l y 21, 1988 H a s s e n s t a b M a n a g e m e n t Co., Inc., H u m p h r e y , N e b r a s k a , 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 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 100 p e r c e n t of th e v o t i n g shares of F a r m e r s S t a t e Bank, Humphrey, Nebraska.* J u l y 21, 1 9 8 8 P e oples, I n c . , Ottawa, Kansas, for prior a p p r o v a l to become 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 10 0 percent of the v o t i n g s h a r e s of Peoples Savings, Inc., O t t a w a , K a n s a s . * J u l y 21, 1988 1988 J u l y 21, T e l l u r i d e B a n c o r p . , Ltd., T e l l u r i d e , C olorado, 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 . 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 hares of B a n k of T ell u r i d e , Telluride, Colorado.* 1988 SECTION III ^ APPLICATIONS SUBJECT.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 B l u e H i l l Agency, Inc., Bl u e Hill, N e b r a s k a , for pr i o r a p p r o v a l to a c q u i r e 8.4 p e r c e n t of the v o t i n g s h a r e s of Bl u e Hill A r e a I m p r o v e m e n t Corp o r a t i o n , B l u e Hill, N e b r a s k a , and t h e r e b y i n d i r e c t l y e n g a g e in c o m m u n i t y d e v e l o p m e n t activities. Not Available SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION N B A B a n k s h a r e s , Inc., Salina, Kansas, for prior appro v a l to r e d e e m 26,281 s h a r e s of its own 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 s u b ject to CRA. FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF 88/06/27 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION ** NOTICE EXP ♦Section 3(a)(1) application by Firstshares of Texas, Inc., Marshall, Texas to acquire First National Bank of Marshall, Texas 88/07/18 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION NOTICE EXP Section 4(c)(8) application by Firstshares of Texas, Inc., Marshall, Texas to acquire The First National Company of Marshall, Marshall, Texas (to continue to engage in the activity of making, acquiring, and/or servicing loans) 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. N/A FEDERAL RESERVE BANK OF SAN FRANCISCO Week ending 7/01/88 Section I - Applications Subject to Newspaper Notice Only Application Valley Bank and Trust, Salt Lake City, Utah, to establish a branch in the vicinity of 1100 North and Highway 89, Layton, Davis County, Utah. * Newspaper: 7/31/88 Scottscom Bank, Scottsdale, Arizona, to merge with Thunderbird Bank, Phoenix, Arizona, under Scottscom's charter and Thunderbird's title. * Newspaper: Not available Section II - Applications Sub.iect to Both Newspaper and Federal Reaister Notice Donald Barton to increase his ownership from 9.96 percent to 20.06 percent of Bank of Ephraim, Ephraim, Utah. * Newspaper: Not available Fed. Req.: 7/21/88 First Interstate Bancorp, Los Angeles, California, to acquire 100 percent of Jefferson State Bank, Medford, Oregon. * Newspaper: Not available Fed. Req.: 7/29/88 M.O. Packard Investment Company, Boise, Idaho, to merge with Kolob Investment Company, Springville, Utah. * Newspaper: 8/10/88 Fed. Req.: 7/29/88 U.S. Bancorp, Portland, Oregon, to acquire Northwestern Commercial Bank, Bellingham, Washington. * Newspaper: 8/06/88 Fed. Req.: 8/04/88 Section III - Applications Sub.iect to Federal Register Notice Only None Section IV - Applications Not Sub.iect to Federal Register Notice or Newspaper Notice None * Subject to CRA.
@FedFRASER