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ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Applications and Reports Received or Acted on
H.2
1972 No. 30
During the Week Ending July 22, 1972
Date
District
Proxy Statement (Special Meeting) Filed Pursuant to
Section 14(a) of the Securities Exchange Act
Received
Old Kent Bank and Trust Company, Grand Rapids,
Michigan
* * * * *
To Withdraw from Membership in the Federal Reserve
System Without a Six Month Notice as Prescribed by
Section 9 of the Federal Reserve Act
Approved
Mutual Trust and Deposit Company, New Albany,
Indiana
* * * * *
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Received
The Merchants Bank of New York, New York, New York.
Branch to be established at The 30th Street Corner
Store of the building located at 295 Fifth Avenue,
New York.
Island State Bank, Patchogue, New York. Branch to
be established at 174 Norther Boulevard, Shirley,
Town of Brookhaven, Suffolk County.
I
7/19/72
H. 2
1972 No. 30
-2-
Received Cont'd.
The Union Banking & Trust Company of Du Bois,
Pennsylvania, Du Bois, Clearfield County,
Pennsylvania. Branch to be established at 418-420
Main Street, Reynoldsville, Jefferson County.
The Firestone Bank, Akron, Ohio. Branch to be
established at 2647 Bailey Road, Cuyahoga Falls,
Summit County.
Approved
*The Dover Trust Company, Dover, New Jersey, Branch
to be established at the corner of State Highway
Route 15 and Bowling Green Parkway, Jefferson
Township, Morris County.
*Bank of West Jersey, Delran Township, Burlington
County, New Jersey. Branch to be established at
the intersection of Williamstown-New Freedom Road and
Erial-Williamstown Road, Winslow Township, Camden
County.
5
^Farmers and Merchants State Bank, Fredericksburg,
Virginia. Branch to be established on the campus of
Mary Washington College, Fredericksburg.
8
*The Exchange Bank & Trust Company, El Dorado, Arkansas.
Branch to be established at the Mellor Park Mall
Shopping Center, North West Avenue, El Dorado.
8
^Citizens Fidelity Bank and Trust Company, Louisville,
Kentucky. Branch to be established on Dutchman's
Lane near the Breckinridge Lane-Watterson Expressway
Interchange, St. Matthew's, Jefferson County.
8
*The Louisville Trust Company, Louisville, Kentucky.
Branches to be established at the following locations:
A. In a proposed shopping center located at Seatonville
Road and Bardstown Road, Louisville, Jefferson County.
B.
In a proposed shopping center located at Goose Creek
Road and Westport Road, Louisville, Jefferson County»
•>v * * * *
*Application processed by the Reserve Bank on behalf of the Board of Governors
under delegated authority.
Thirty Day Notice of Intention to Establish An
Additional Branch in a Foreign Country
Received
First National City Bank, New York, New York.
Additional branch to be established in Jamaica,
to be located in Ocho Rios.
H.2
W
1972 No. 30
10
W
_4_
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Received
**The Berthoud Bancorp., Inc., Berthoud, Colorado,
for prior approval to acquire 80.4 per cent or
more of the voting shares of The Berthoud National
Bank, Berthoud, Colorado.
11
First International Bancshares, Inc., Dallas, Texas,
for prior approval to acquire 100 per cent of the
voting shares of the successor by merger to the
following banks: First National Bank in Dallas,
Dallas, Texas, and Houston-Citizens Bank & Trust
Company, Houston, Texas.
12
American Bancorporation, Los Angeles, California,
for prior approval to acquire 5,021 shares of
the voting shares of Ranchers Bank, Quartz Hill,
California.
12
Independent Bankshares Corporation, San Rafael,
California, for prior approval to acquire 100
per cent (except directors1 qualifying shares)
of the voting shares of Bank of Marin, San Rafael,
California; Bank of Sonoma County, Sebastopol,
California; and The First National Bank of
Cloverdale, Cloverdale, California.
10
Approved
Western Kansas Investment Corporation, Inc., Winona,
Kansas, for prior approval to acquire up to
100 per cent of the voting shares of The Farmers
State Bank, Winona, Kansas.
*
2
* * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Received
Charter New York Corporation, New York, New York,
for prior approval to acquire 100 per cent (less
directors' qualifying shares) of the voting shares
of Hayes National Bank, Clinton, New York, the
successor by merger to The Hays National Bank of
Clinton, Clinton, New York.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
7-19-72
2
Received Continued
The Chase Manhattan Corporation, New York, New York,
for prior approval to acquire 100 per cent
(excluding directors1 qualifying shares) of
the voting shares of Chase Manhattan Bank of
the Genese Valley (National Association), Caledonia,
New York, a proposed new bank, successor by merger
to the Bank of Caledonia, Caledonia, New York.
2
First National State Bancorporation, Newark, New
Jersey, for prior approval to acquire 100 per
cent of the voting shares of First National
State Bank of Ocean County, Lakewood, New Jersey,
a proposed new bank (through the acquisition of
Trust Company of Ocean County, Lakewood, New
Jersey)„
2
Standard Prudential Corporation, New York, New
York, for prior approval to acquire all of the
voting shares of Kings Lafayette Corporation,
Brooklyn, New York, the parent company of
Kings Lafayette Bank, Brooklyn, New York,
tendered for purchase upon condition that at
least 50 per cent of the voting shares will be
so tendered, reserving to Standard Prudential,
however, the option to waive such condition.
5
Equitable Bancorporation, Baltimore, Maryland,
for prior approval to acquire 80 per cent or
more of the voting shares of Farmers and
Merchants Bank of Hagerstown, Maryland,
Hagerstown, Maryland.
5
Fidelity American Bankshares, Inc., Lynchburg,
Virginia, for prior approval to acquire 90
per cent or more of the voting shares of
Citizens National Bank of Herndon, Herndon,
Virginia.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
H.2
1972 No. 30
5
-6-
Received Continued
Fidelity American Bankshares, Inc., Lynchburg,
Virginia, for prior approval to acquire 90 per
cent or more of the voting shares of Fairfield
National Bank of Highland Springs, Highland
Springs, Virginia.
5
Fidelity American Bancshares, Inc., Lynchburg,
Virginia, for prior approval to acquire 80 per
cent or more of the voting shares of People's
Bank of Virginia Beach, Virginia Beach, Virginia
(through the acquisition of Peoples Corporation,
Virginia Beach, Virginia).
6
Consolidated Bankshares of Florida, Inc., Fort
Lauderdale, Florida, for prior approval to
acquire 80 per cent or more of the voting shares
of Union Trust National Bank of St. Petersburg,
St. Petersburg, Florida.
6
First at Orlando Corporation, Orlando, Florida,
for prior approval to acquire not less than
90 per cent of the voting shares of the First
National Bank of Delray Beach, Delray Beach,
Florida.
6
First at Orlando Corporation, Orlando, Florida,
for prior approval to acquire not less than 90
per cent of the voting shares of the Second
National Bank of Delray Beach, Delray Beach,
Florida.
6
Southeast Banking Corporation, Miami, Florida,
for prior approval to acquire 80 per cent or
more of the voting shares of American National
Bank and Trust Company of South Pasadena,
St. Petersburg, Florida.
10
Central Colorado Bancorp., Inc., Colorado Springs,
Colorado, for prior approval to acquire not
less than 90 per cent of the voting shares of
State Bank of Greeley, Greeley, Colorado.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
H. 2
1972 No. 30
Received Continued
The Fort Worth National Corporation, Fort Worth,
Texas, for prior approval to acquire 100 per
cent (less directors' qualifying shares) of
the successor by merger to The American National
Bank of Amarillo, Amarillo, Texas.
11
Approved
First American Bancshares, Inc., St. Joseph,
Missouri, for prior approval to acquire 836 of
the voting shares of Bank of Edgerton, Edgerton,
Missouri.
10
10
First American Bancshares, Inc., St. Joseph,
Missouri, for prior approval to acquire 352
of the voting shares of Bank of Skidmore,
Skidmore, Missouri.
10
First American Bancshares, Inc., St. Joseph,
Missouri, for prior approval to acquire 454
of the voting shares of The First National Bank
of Plattsburg, Plattsburg, Missouri.
10
First American Bancshares, Inc., St. Joseph, Missouri,
for prior approval to acquire 238 of the
voting shares of The First National Bank of
Stewartsville, Stewartsville, Missouri,
11
**First Texas Bancorp, Inc., Georgetown, Texas,
for prior approval to acquire 100 per cent of
the voting shares (less directors1 qualifying
shares) of First National Bank of Round Rock,
Round Rock, Texas, a proposed new bank.
12
Denied
Seilon, Inc., Toledo, Ohio, for prior approval
to acquire up to an additional 63.5 per cent of
the voting shares of First Bancorporation,
Reno, Nevada, a one-bank holding company
owning 100 per cent of the voting shares (less
directors1 qualifying shares) of Nevada National
Bank, Reno, Nevada.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
7-19-72
Reactivated
The Chase Manhattan Corporation, New York, New York,
for prior approval to acquire 100 per cent
(excluding directors' qualifying shares) of the
voting shares of Chase Manhattan Bank of Central
New York (National Association), Syracuse, New
York, a proposed new bank.
Suspended
On H.2 No. 16, the Board reported receipt of an
application from First City Bancorporation of
Texas, Inc., Houston, Texas, for prior approval
to acquire 100 per cent (less directors'
qualifying shares) of the voting shares of the
successor by merger to Heights State Bank,
Houston, Texas. This application is now in
suspense awaiting receipt of Applicant!s
reply to a Department of Justice letter to
the Board dated July 14, 1972.
On H.2 No. 16, the Board reported receipt of an
application from First City Bancorporation of
Texas, Inc., Houston, Texas, for prior approval
to acquire 100 per cent (less directors'
qualifying shares) of the voting shares of
the successor by merger to Highland Village
State Bank, Houston, Texas. This application
is now is suspense awaiting receipt of Applicant's
reply to a Department of Justice letter to the
Board dated July 14, 1972.
On H.2 No. 17, the Board reported receipt of an
application from First City Bancorporation of
Texas, Inc., Houston, Texas, for prior approval
to acquire 100 per cent (less directors' qualifying
shares) of the voting shares of the successor
by acquisition of assets and assumption of
liabilities of South Main Bank, Houston, Texas.
This application is now in suspense awaiting
receipt of Applicant's reply to a Department
of Justice letter to the Board dated July 14, 1972,
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Received
Financial Institutions, Inc., Warsaw, New York, for
prior approval to merge Geneva Shareholders, Inc.,
Warsaw, New York, into Financial Institutions, Inc.
1972 No. 30
1
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Received
**Industrial National Corporation, Providence, Rhode
Island, notification of intent to continue to
engage in a de novo activity (leasing of personal
property and equipment) through a subsidiary known
as Industrial Leasing Corporation, Atlanta,
Georgia.
7-21-72
2
United Jersey Banks, Hackensack, New Jersey, for
prior approval to acquire 100 per cent of the
common and preferred stock of Gibraltar Corporation
of America, New York, New York.
5
**First & Merchants Corporation, Richmond, Virginia,
notification of intent to engage in a de novo
activity (acting as insurance agent or broker
with respect to the sale of credit life and
disability insurance, the sale of physical
damage insurance in connection with certain pledged
properties, and the sale of "vendors single
interest" insurance for motor vehicles, all
in connection with extensions of credit) in
Lynchburg, Newport News, Norfolk, Richmond
and Waynesboro, and the counties of Arlington
and Fairfax, Virginia, through a subsidiary to
be known as First Security Insurance Agency,
Inc.
6
**United Bancshares of Florida, Inc., Miami Beach,
7-17-72
Florida, notification of intent to engage in a
de novo activity ((i) providing portfolio investment
advice for any other person and (ii) furnishing
general economic information and advice, general
economic forecasting services and industry studies)
through a subsidiary to be known as First Investment
Advisory Corporation, Miami Beach, Florida.
10
NBC Co., Lincoln, Nebraska, for prior approval
to acquire all of the outstanding common stock
of Mutual Savings Company, Lincoln, Nebraska.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
7-17-72
H. 2
1972 No. 30
12
12
-10-
Received Continued
**First Security Corporation, Salt Lake City, Utah,
notification of intent to engage in a de novo
activity (marketing, storing and other
processing of banking financial and related
economic data such as performing payroll, accounts
receivable or payable, or billing services for
customers and including specifically the
furnishing of computer output microfilm ("COM")
services in connection with the foregoing)
through a subsidiary known as First Security
Datacorp, Denver, Colorado.
**Washington Bancshares Inc., Spokane, Washington,
notification of intent to engage in de novo
activities (making or acquiring, for its own
account or for the account of others, loans
and other extensions of credit, secured by
real estate mortgages or deeds of trust, and
the servicing of such loans and other activities
as are incidental to the operation of real
estate mortgage company including but not
limited to, acting as an agent or broker for the
sale of group life and casualty insurance to
be issued in connection with making or acquiring
such loans) through a de novo office located
in Lynwood, Washington, of its wholly-owned
subsidiary, Bancshares Mortgage Company, Spokane,
Washington.
7
9
Approved
American Fletcher Corporation, Indianapolis, Indiana,
for prior approval to acquire all of the voting
shares of Local Finance Corporation, Marion,
Indiana.
Dacotah Bank Holding Co., Aberdeen, South Dakota,
for prior approval to acquire voting shares of
Lemmon Insurance Agency, Inc., Lemmon, South
Dakota, a company that engages in the activity
of a general insurance agency in a community
of less than 5,000 persons.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
6-30-72
7-18-72
H. 2
1972 No. 30
10
9
6
7
-11-
Approved Continued
Western Kansas Investment Corporation, Inc., Winona,
Kansas, for prior approval to acquire Western
Kansas Credit Corporation, Winona, Kansas, an
agricultural lender.
Delayed
**Bank Shares Incorporated, Minneapolis, Minnesota,
notification of intent to engage in a de novo
activity (serving as the management advisor
for National Realty Investors, a real estate
investment trust). Such activity will be
conducted at offices in One Boston Place,
Boston, Massachusetts, and 111 Marquette Avenue,
Minneapolis, Minnesota.
Permitted
**Paimer Bank Corporation, Sarasota, Florida, to
engage in a de novo activity ((i) serving as
the advisory company for mortgage or real estate
investment trust; and acting as financial
advisor by furnishing economic or financial
information to customers or potential customers
of Palmer Bank Corporation or customers or
potential customers of any of its subsidiaries,
specifically in the (ii) preparation and sale
of data regarding area economic trends; (iii)
preparation and dissemination of real estate
industry studies; and (iv) collection and
dissemination of real estate market data)
through its present subsidiary, Coastal Mortgage
Company, with offices in Sarasota, Fort Myers,
and Naples, Florida.
7-20-72
**American Bankshares Corporation, Milwaukee, Wisconsin, 7-20-72
to engage in a die novo activity (to furnish counsel
and advice on investments in stocks, bonds, notes
and other securities to the trust department of
banks in the American Bankshares System, to the
customers of such banks, and to other banks; to
exercise all functions that are permitted to
be exercised by an "investment advisor" under
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
7-18-72
H.2
1972 No. 30
-12-
Permitted Continued
The Investment Company Act of 1940, except as
limited by The Glass-Steagall Act. The proponent
will not, however, act as a business consultant
in any capacity nor will it organize, sponsor,
or control mutual funds) through a subsidiary
known as American Investment Services, Inc.,
Milwaukee, Wisconsin.
7
^^Continental Illinois Corporation, Chicago, Illinois,
to engage in de novo activities (making or
acquiring, for its own account, or for the
account of others, loans and other extensions
of credit such as would be made, for example,
by a mortgage company, and servicing loans and
other extensions of credit for any person)
through an existing subsidiary known as Republic
Realty Mortgage Corporation, Chicago, Illinois.
7-17-72
7
**Valley Bancorporation, Appleton, Wisconsin, to
engage in a de novo activity (offering complete
fiduciary services and offering trust management
and services to other banks and trust departments)
through a subsidiary known as Valley Trust
Company, Appleton, Wisconsin.
7-17-72
10
**Affiliated Bankshares of Colorado, Inc., Boulder,
Colorado, to continue to engage in de_ novo
activities (all aspects of the business of mortgage
lending, including interim construction and
permanent loan financing of all types and
specifically the making of conventional Federal
Housing Administration insured and Veterans1
Administration guaranteed loans, and to engage
in all activities in any way pertaining to the
conduct of a mortgage lending business) through
its subsidiary Piedmont Mortgage & Investment
Co., Inc., Boulder, Colorado.
7-17-72
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
H.2
1972 No. 30
11
-13-
Permitted Continued
**The Fort Worth National Corporation, Fort Worth,
Texas, to engage in a die novo activity (acting
as insurance agent or broker, through individually
licensed agents, in offices at which The Fort
Worth National Corporation or its subsidiaries
are otherwise engaged in business for the
purpose of writing credit life and accident and
health insurance on the lives of borrowers of
the banking subsidiaries of The Fort Worth
National Corporation) through its subsidiary
Financial Service Life Insurance Company, Fort
Worth, Texas.
7-17-72
12
**BankAmerica Corporation, San Francisco, California,
7-21-72
to engage in a de novo activity (acting as an
investment and financial advisor, including
serving as an investment advisor as defined
in Section 2(a)(20) of The Investment Company Act
of 1940) through a subsidiary known as BA Investment
Management Corporation, with offices in San
Francisco, California.
12
**BankAmerica Corporation, San Francisco, California,
7-20-72
to engage in a de novo activity (leasing personal
property and equipment, primarily IBM System
370 computers and acting as agent, broker or
advisor in leasing of such property where at the
inception of the initial lease the expectation
is that the effect of the transaction and reasonably
anticipated future transactions with the same lessee
as to the same property will be to compensate
the lessor for not less than the lessor's full
investment in the property) through a subsidiary
known as DC Computer Leasing Corporation, with
offices located in San Francisco and Gardena,
California; New York, New York; Rosemont, Illinois;
and Houston, Texas.
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
H.2
1972 No. 30
12
12
-14Permitted Continued
**Marine Bancorporation, Seattle, Washington, to engage
in a de novo activity (making or acquiring for
its own account or for the account of others,
loans and other extensions of credit) through a
de novo office in Portland, Oregon, of its
wholly-owned subsidiary Coast Mortgage Company,
Seattle, Washington.
**U. S. Bancorp, Portland, Oregon, to engage in a
de novo activity (marketing, storing, and
processing of banking financial or related
economic data, such as performing payroll,
accounts receivable or payable, or billing
services for customers and incidental activities
necessary thereto) through a de novo office
in Phoenix, Arizona, of its wholly-owned subsidiary
U. S. Datacorp, Portland, Oregon.
7-20-72
7-20-72
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Received
**Continental Western Industries, Inc., Des Moines,
Iowa, notification of intent to acquire Gardner
& Beedon Company and Gardner & Beedon Co.,
both of Portland, Oregon, which are engaged in
the business of distribution of electrical
and plumbing supplies.
Permitted
**Warner Communications Inc., New York, New York, to
acquire Holmes Protection Services Corporation,
New York, New York, through National Kinney
Corporation, New York, New York.
**Warner Communications Inc., New York, New York,
to acquire Werner Krebs, Inc., New York, New
York, and two affiliated corporations,Century
Painting Corporation, New York, New York, and
Doubleday Contracting Corporation, New York,
New York, through National Kinney Corporation,
New York, New York.
7-17-72
7-20-72
7-20-72
**Processed by Reserve Bank on behalf of the Board of Governors under
delegated authority.
@FedFRASER