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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H. 2, 1982 No. 30)
Actions of the Board; Applications and Reports
APPLICABLE
RESERVE BANK
Received During the Week Ending July 24, 1982
ACTIONS OF THE BOARD
Statement by Chairman Paul A. Volcker before the Senate
and House Banking Committees to discuss monetary
policy within the context of recent and prospective
economic developments.
Reduction in the basic discount rate from 12 percent to
11-1/2 percent, e f f e c t i v e Tuesday, July 20.
Midyear Monetary Policy Report to the Congress pursuant
to Full Employment and Balanced Growth Act of 1978.
Regulation Z, Treatment of S e l l e r ' s Points, in Truth in
Lending disclosures; the Board requested comment by
August 27, 1982. (Docket No. R-0413)
St. Louis
Ambanc Corp., Vincennes, Indiana, extension of time to
September 30, 1982, within which to become a bank holding
company through the acquisition of the successor by merger
to the American National Bank of Vincennes, Vincennes,
Indiana. J./
San
Francisco
Bonneville Bancorp, Provo, Utah, extension of time to
November 11, 1982, within which to become a bank holding
company through the acquisition of the Bonneville Bank,
Provo, Utah, y
Cleveland
Colonial Banc Corp., Eaton, Ohio, extension of time to October
21, 1982, within which to acquire Eaton National Bank and
Trust Co., Eaton, Ohio. _1/
Dallas
Columbia Bancshares, I n c . , West Columbia, Texas, extension
of time to August 29, 1982, within which to acquire F i r s t
Capitol Bank, West Columbia, Texas. J7
Richmond
Farmers National Bancorp, Annapolis, Maryland, extension of
time t o August 21, 1982, within which to become a bank
holding company through the acquisition of Farmers National
Bank of Maryland, Annapolis, and Caroline County Bank,
Greensboro, Maryland. 1/
T7
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
Chicago
F i r s t Busey Corporation, Urbana, I l l i n o i s , extension of
time to October 20, 1982, within which to acquire 100
percent of the voting shares of National Bank of Urbana,
Urbana, I I l i n o i s . 1/
Chicago
FN Bancorp, Warsaw, Indiana, extension of time to October 26,
1982, within which to become a bank holding company through
the acquisition of 100 percent of the voting shares of the
successor by merger to F i r s t National Bank of Warsaw, Warsaw,
Indiana. J./
Kansas City
International Bancorp, Denver, Colorado, extension of time to
October 6, 1982, within which to acquire International Bank,
Denver, and Community Bank and Trust Company, Englewood,
Colorado. \J
New York
Letchworth Independent Bancshares Corporation, C a s t i l e , New
York, extension of time to September 14, 1982, within which
to become a bank holding company through the acquisition of
the Bank of C a s t i l e , C a s t i l e , New York, and to acquire the
shares of Letchworth AG Credit Corporation, C a s t i l e , New York. 1/
St. Louis
Mark Twain Bancshares, I n c . , St. Louis, Missouri, extension
of time to September 24, 1982, within which to acquire Mark
Twain Stadium Bank, N.A., St. Louis, Missouri, a proposed
new bank. 1/
Chicago
Merchants Corporation, Chicago, I l l i n o i s , extension of time
to September 17, 1982, within which t o become a bank holding
company through the acquisition of 80 percent or more of the
voting shares of Merchants and Manufacturers State Bank,
Melrose Park, I l l i n o i s . 1/
Philadelphia
National Penn Bancshares, I n c . , Boyertown, Pennsylvania, extension of time to October 26, 1982, within which to become
a bank holding company through the acquisition of National
Bank of Boyertown, Boyertown, Pennsylvania, y
Richmond
Peoples Banking Co. of Cecil Co., Elkton, Maryland, extension
of time to August 27, 1982, within which to become a bank
holding company through the acquisition of 100 percent of
the voting shares of The Peoples Bank of Elkton, Elkton,
Maryland. 1/
San
Francisco
RGB Corporation, Sacramento, C a l i f o r n i a , extension of time
to October 26, 1982, within which to become a bank holding
company through the acquisition of 100 percent of the voting
shares of River City Bank, Sacramento, C a l i f o r n i a . 1/
J7
Application processed on behalf of the Board of Governors under delegated
authority.
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H.2. 1982 No. 30
- 3 ACTIONS OF THE BOARD-Continued
New York
Citibank Overseas Investment Corporation, Wilmington, Delaware,
extension of time t o March 17, 1982, w i t h i n which to acquire
the shares of the American Bank of Trinidad and Tobago, Port
of Spain, Trinidad. 1/
Atlanta
Commerce Union Bank of Sumner County, G a l l a t i n , Tennessee, an
investment in bank premises. \ j
Chicago
Continental I l l i n o i s National Bank, Chicago, I l l i n o i s , extension of time t o e s t a b l i s h a branch in Hong Kong. \J
Richmond
Piedmont Bank and Trust Company, Davidson, North Carolina, an
investment in bank premises. 1/
Dallas
Arlington State Bank, A r l i n g t o n , Texas, proposed merger with
New Arlington State Bank, A r l i n g t o n , Texas; report to the
Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/
Atlanta
Bank of Inverness, Inverness, F l o r i d a , proposed merger with
Interim Bank One of C i t r u s County, Inverness, F l o r i d a ; report
to the Federal Deposit Insurance Corporation on competitive
factors. V
i
iv t .)
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fnLdgo
Box Elder County %ank, Brigham C i t y , Utah, proposed merger w i t h
f i r s t i n t e r s t a t e Sank of Utah, Salt Lake C i t y , Utah, under
the charter and t i t l e of the l a t t e r ; report to the Federal
Deposit insurance Corporation on competitive f a c t o r s . _!/
Citizens Bank of Americus, Americus, Georgia, proposed merger
with interim Citizens Corporation, Americus, Georgia; report
to the Federal Deposit Insurance Corporation on competitive
factors. 2/
Citizens F i r s t Interim Bank National Association, Princeton,
I l l i n o i s , proposed merger w i t h Citizens F i r s t National Bank
of Princeton, Princeton, I l l i n o i s , under the charter of
the former and t i t l e of the l a t t e r ; report to the Comptroller
of the Currency on competitive f a c t o r s . ]J
Atlanta
Citizens and Southern National Bank, Savannah, Georgia, proposed merger w i t h Citizens and Southern Bank of Jackson,
Jackson, Georgia; report to the Comptroller of the Currency
on competitive f a c t o r s . 1/
Atlanta
Citizens and Southern National Bank, Savannah, Georgia, proposed merger w i t h Citizens and Southern Bank of Thomas
County, Thomasville, Georgia; report to the Comptroller of
the Currency on competitive f a c t o r s . 1/
T7
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1982 No. 30
- 4 ACTIONS OF THE BOARD-Continued
Dallas
F i r s t National Bank of Palestine, Palestine, Texas, proposed
merger with Last State Bank of Palestine, Palestine, Texas;
report to the Federal Deposit Insurance corporation on
competitive factors. 1/
Philadelphia
F i r s t National State Bank of West Jersey, Burlington, New
Jersey, proposal to purchase the Kennedy Plaza and Country
Club Plaza branches both located in Wil1ingboro, of F i r s t
Peoples Bank of New Jersey; report to the Comptroller of
the Currency on competitive f a c t o r s . J_/
St. Louis
Franklin Bank and Trust Company, Franklin, Kentucky, proposed
merger with FBTC Bank, Franklin, Kentucky; report to the
Federal Deposit Insurance Corporation on competitive factors. J7
Dallas
New Union National Bank, Laredo, Texas, proposed merger with
Union National Bank, Laredo, Texas; report to the Comptroller
of the Currency on competitive factors, j y
Atlanta
Peoples National Bank of S h e l b y v i l l e , Shelbyville, Tennessee,
proposed merger with New Peoples National Bank of Shelbyville,
S h e l b y v i l l e , Tennessee; report to the Comptroller of the
Currency on competitive f a c t o r s . 1/
Kansas City
Termination of r e g i s t r a t i o n under Regulation G for Mountain
Plains Production Credit Association, Port C o l l i n s , Colorado. 1/
J7
Application processed on behalf of the Board of Governors under delegated
authority.
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H.2, 1982 No. 30
ACTIONS OF THE BOARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Philadelphia
Approved
Girard Bank, Bala Cynwyd, Pennsylvania. To establish an
o f f s i t e electronic f a c i l i t y at 929 Arch Street, Philadelphia,
Pennsylvania. 1/
Richmond
Piedmont Bank and Trust Company, Davidson, North Carolina.
To establish a branch at 9 Union Street, Main Street
M a l l , Suite 101, Concord, Cabarrus County, North Carolina. \J
San
Francisco
F i r s t Interstate Bank of C a l i f o r n i a , Los Angeles, C a l i f o r n i a .
To establish a branch o f f i c e in the v i c i n i t y of the i n t e r section of Kanan Road and Thousand Oaks Boulevard, Unincorporated Community of Agoura, Los Angeles County,
C a l i f o r n i a . \J
San
Francisco
Valley Bank of Nevada, Las Vegas, Nevada. To establish a
branch o f f i c e to be located in the Community of Granderville,
Douglas County, Nevada. 1/
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Issued Intent Not to Disapprove Change of Control
Pursuant to Change in Bank Control Act of 1978
Dallas
Tj
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Not Disapproved
Houston American Financial Corporation, Houston, Texas. \J
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
Applications and N o t i f i c a t i o n s for International
Investments and Other Actions Pursuant to Sections
25 and 25(a) of the Federal Reserve Act and Sections
4(c)(9) and 4(c)(13) of the Bank Holding Company Act
of 1956, as amended
Cleveland
Approved
Pittsburgh International Bank, Pittsburgh, Pennsylvania:
grants permission to amend i t s A r t i c l e s of Incorporation
to increase i t s capital and surplus. (7/12/82) J /
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To Establish a U.S. Branch of an Edge Act Corporation
Pursuant to Section 25(a) of the Federal Reserve Act
New York
Approved
Citibank I n t e r n a t i o n a l , Miami, h l o r i d a : grants consent t o
establish and operate a branch in Fort Lauderdale, Florida.
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To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Boston
Richmond
Atlanta
T7
Withdrawn
Saver's Bancorp., I n c . , L i t t l e t o n , New Hampshire, for approval
to acquire 100 percent of the voting shares of The Saver's
Bank, L i t t l e t o n , New Hampshire, and i n d i r e c t l y 14 percent
of North Country Bank, B e r l i n , New Hampshire. V
Approved
0MB Financial, I n c . , Clarksburg, West V i r g i n i a , for approval
to acquire at least 80 percent of the voting shares of The
Oak Mound Bank, Clarksburg, West V i r g i n i a . _1/
F i r s t Farmers and Merchants Corporation, Columbia, Tennessee,
for approval to acquire 100 percent of the voting shares of
F i r s t Farmers and Merchants National Bank of Columbia,
Columbia, Tennessee. 1/
Application processed on behalf of the Board of Governors under delegated
authority.
1
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H.2, 1982 No. 30
ACTIONS OF THE BOARD-Continued
Atlanta
Monroe Bancshares, I n c . , Madisonvil l e , Tennessee, for
approval to acquire at least 80 percent of the voting
shares of Bank of Madisonvi1le, Madisonville, Tennessee. \J
Atlanta
One American Corp., Vacherie, Louisiana, for approval to
acquire 100 percent of the voting shares of F i r s t American
Bank and Trust, Vacherie, Louisiana. 1/
Minneapolis
Oliver Bancorporation, I n c . , Center, North Dakota, for
approval to acquire at least 80 percent of the voting
shares of State Bank of Oliver County, Center, North Dakota. 1/
Kansas City
SNB Bancshares, I n c . , Eufaula, Oklahoma, for approval to
acquire at least 51.60 percent of the voting shares of
State National Bank of Eufaula, Eufaula, Oklahoma. 1/
Dal las
Wilson Bancshares, I n c . , Wilson, Texas, for approval to acquire
at least 80 percent of the voting shares of Wilson State
Bank, Wilson, Texas. _!/
San
Francisco
F i r s t National Corporation, San Diego, C a l i f o r n i a , for approval
to acquire 100 percent of the voting shares of the successor
by merger t o F i r s t National Bank of San Diego County, San
Diego, C a l i f o r n i a . _1/
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To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
New York
Approved
C i t i c o r p , New York, New York, for approval to acquire 100
percent of the voting shares (less d i r e c t o r s ' q u a l i f y i n g
shares) of Citibank (Delaware), Wilmington, Delaware,
a proposed new bank. JL/
Atlanta
AmSouth Bancorporation, Birmingham, Alabama, for approval
to acquire 100 percent of the voting shares of National
Bank of Birmingham, Birmingham, Alabama, a proposed new
bank. \ j
Atlanta
Tennessee National Bancshares, I n c . , M a r y v i l l e , Tennessee,
for approval to acquire at least 21 percent of the voting
shares of Tennessee State Bank, Gatlinburg, Tennessee. IJ
TJ
Application processed on behalf of the Board of Governors under delegated
authority.
I
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
Chicago
Northern Trust Corporation, Chicago, I l l i n o i s , for approval
to acquire at least 98.3 percent of the voting shares of
Northern Trust Bank of Florida N.A., Miami, Florida, a
proposed new bank. 1/
Kansas City
industrial Bancshares, I n c . , Kansas C i t y , Kansas and Valley
View Bancshares, I n c . , Overland Park, Kansas, for approval
to acquire at least 7.45 percent of the voting shares of
Security Bancshares, I n c . , Kansas C i t y , and i n d i r e c t l y
Security National Bank of Kansas C i t y , Kansas. 1/
Kansas City
Riverton State Bank Holding Company, Riverton, Wyoming, for
approval to acquire 100 percent of the voting shares of
Dubois National Bank, Dubois, Wyoming. 1/
Oallas
F i r s t City Bancorporation of Texas, I n c . , Houston, Texas, for
approval to acquire 100 percent of the voting shares of
Citizens F i r s t National Bank of T y l e r , T y l e r , Texas. _!/
Dallas
F i r s t City Bancorporation of Texas, I n c . , Houston, Texas, for
approval to acquire 100 percent of the voting shares of F i r s t
City Bank-Northchase, N.A., Houston, Texas, a proposed new
bank. 1/
Oallas
Mercantile Texas Corporation, Dallas, Texas, for approval to
acquire 100 percent of the voting shares of Grand Prairie
State Bank, Grand P r a i r i e , Texas. 1/
Dal las
Victoria Bankshares, I n c . , V i c t o r i a , Texas, for approval to
acquire 100 percent of the voting shares of Angleton Bank
of Commerce, Angleton, Texas. 1/
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To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Kansas City
T7
Delayed
Bankshares of Nebraska I n c . , Grand Island, Nebraska, n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (in underwriting
c r e d i t l i f e insurance ami c r e d i t accident and health i n surance which is d i r e c t l y related to extensions of c r e d i t
by Applicant's subsidiaries) t h i s insurance would be sold
from an o f f i c e located in Grand Island, Kearney and Hastings
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1982 No. 30
- 9 ACTIONS OF THE BOARD-Continued
Nebraska; the area to be served by the a c t i v i t i e s includes
the following counties; H a l l , Adams, Howard, Merrick, Hamilton,
Clay, Nuckolls, Webster, Frank!in, Kearney, Buffalo, and
Sherman, through a subsidiary to be known as Bankshares
L i f e Insurance Company (7/21/82) 3/
Kansas City
New York
37
Royal Dominion L t d . , Denver, Colorado, n o t i f i c a t i o n of
i n t e n t to engage in de novo a c t i v i t i e s (in a c t i v i t i e s
l i m i t e d to provision of bookkeeping, accounting and
data processing services, business record keeping,
storage and r e t r i e v a l services and related fi n a n ci a l
and administrative services to a f f i l i a t e d banks and
bank subsidiaries) at 3251 Syracuse S t r e e t , Denver,
Colorado, serving subsidiary banks and a f f i l i a t e d banks
located within the Denver, Colorado metropolitan area
(7/23/82) 3/
Permi tted
C i t i c o r p , New York, New York, requests permission to establ i s h a de novo o f f i c e of i t s subsidiary, Citicorp Homeowners , Inc. ("CHI") and to expand the a c t i v i t i e s of an
e x i s t i n g o f f i c e of i t s subsidiary, Citicorp Person-toPerson Financial Center, Inc. ("CPFC") at the same locat i o n , the a c t i v i t i e s in which the de novo o f f i c e of CHI
w i l l engage are (the making or acquiring of loans and
other extensions of c r e d i t , secured or unsecured, for
consumer and other purposes; the making, acquiring and
servicing f o r i t s own account and for the account of
others, of extensions of c r e d i t to individuals secured
by l i e n s on residential or non-residential real estate;
the sale of c r e d i t related l i f e and accident and health
or decreasing or level ( i n the case of single payment
loans) term l i f e insurance by licensed agents or brokers,
as required; the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y related t o extensions of
mortgage loans; the sale of consumer oriented fi n a n ci a l
management courses; and the s e r v i c i n g , for any person,
of loans and other extensions of c r e d i t ; the proposed
service area of CHI shall be comprised of the e n t i r e
State of Alabama for a l l the aforementioned a c t i v i t i e s ;
the new a c t i v i t i e s in which the e x i s t i n g o f f i c e of CPFC
proposes to engage de novo are: the making, acquiring
and s e r v i c i n g , for i t s own account and for the account
of others, of extensions of c r e d i t t o individuals secured
by l i e n s on r e s i d e n t i a l or non-residential real estate;
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
and the sale of mortgage l i f e and mortgage d i s a b i l i t y
insurance d i r e c t l y related to extensions of mortage
loans; the proposed service area for the aforementioned
a c t i v i t i e s shall be comprised of the e n t i r e State of
Alabama; c r e d i t related l i f e , accident, and health
insurance may be w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e of CHI and CPFC) at 3724 Lorna
Road, Birmingham, Alabama, through i t s subsidiaries,
C i t i c o r p Homeowners, Inc. and Citicorp Person-to-Person
Financial Center, Inc. (7/23/82) 3/
New York
37
C i t i c o r p , New York, New York, requests permission to establ i s h a de novo o f f i c e of i t s subsidiary, C i t i c o r p Homeowners, Inc. ("CHI"), and to expand the a c t i v i t i e s of
an e x i s t i n g o f f i c e of i t s subsidiary, Citicorp Personto-Person Financial Center, Inc. ("CPFC") at the same
l o c a t i o n , the proposed a c t i v i t i e s in which CPFC w i l l engage
i n are (the making, acquiring and servicing, f o r i t s own
account and for the account of others, of extensions of credit
to individuals secured by l i e n s on residential or nonresidential real estate; and the sale of mortgage l i f e
and mortgage d i s a b i l i t y insurance d i r e c t l y related to
extensions of mortgage loans; the proposed service area
f o r the aforementioned a c t i v i t i e s shall be comprised of
the e n t i r e State of Georgia; the proposed a c t i v i t i e s in
which the de novo o f f i c e of CHI w i l l engage are: the
making or acquiring of loans and other extensions of
c r e d i t , secured or unsecured, f o r consumers and other
purposes; the making, acquiring and servicing for i t s
own account and f o r the account of others, of extensions
of c r e d i t to individuals secured by liens on residential
or non-residential real estate; the sale of c r e d i t related
l i f e and accident and health or decreasing or level ( i n
the case of single payment loans) term l i f e insurance
by licensed agents or brokers, as required; the sale of
mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y
related t o extensions of mortgage loans; the sale of
consumer oriented fi n a n ci a l management courses; and the
servicing, for any person, of loans and other extensions
of c r e d i t ; the proposed service area of the de novo o f f i c e
of CHI shall be comprised of the e n t i r e State of Georgia
f o r a l l the aforementioned a c t i v i t i e s ; c r e d i t related
l i f e , accident and health insurance may be w r i t t e n by
Family Guardian L i f e Insurance Company, an a f f i l i a t e
of CPFC and CHI) at 5575 Peachtree Dunwoody Road,
Atlanta, Georgia, through i t s subsidiaries, Citicorp
Homeowners, Inc. and C i t i c o r p Person-to-Person Financial
Center, Inc. (7/23/82) 3/
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
New York
C i t i c o r p , New York, New York, requests permission to establ i s h a de novo o f f i c e engaging in the following a c t i v i t i e s
(consumer lending a c t i v i t i e s including application
acceptance functions, the execution of loan documents
and disbursement of funds, the acceptance of payments,
account adjustments and other customer service a c t i v i t i e s
incidental to Citicorp Financial I n c . ' s c r e d i t card and
direct lending a c t i v i t i e s ; the service area of the de
novo o f f i c e shall be comprised of the e n t i r e State of
V i r g i n i a ) at Springfield M a l l , P.O. Box 789, S p r i n g f i e l d ,
V i r g i n i a , through i t s subsidiary, Citicorp Financial Inc.
(7/23/82) 3/
New York
C i t i c o r p , New York, New York, requests permission to establ i s h a de novo o f f i c e of i t s subsidiary, Citicorp Homeowners /"TncT%"CHI") and to expand the a c t i v i t i e s and service area of an e x i s t i n g o f f i c e of i t s subsidiary, Citicorp
Person-to-Person Financial Center, Inc. ("CPFC") at the
same l o c a t i o n ; the a c t i v i t i e s in which the proposed
de novo o f f i c e of CHI w i l l engage are (the making or
acquiring of loans and other extensions of c r e d i t ,
secured or unsecured, for consumer and other purposes; the sale of credit related l i f e and accident
and health or decreasing or level (in the case of
single payment loans) term l i f e insurance by licensed
agents or brokers, as required; the sale of consumer
oriented f inancial management courses; the servicing
for any person, of loans and other extensions of
c r e d i t ; the making, acquiring and servicing, for i t s
own account and for the account of others of extensions of c r e d i t t o individuals secured by liens on
residential or non-residential real estate; and the
sale of mortgage l i f e and mortgage d i s a b i l i t y insurance
d i r e c t l y related to extensions of mortgage loans; the
proposed service area of CHI shall be comprised of the
e n t i r e State of Alabama for a l l the aforementioned
a c t i v i t i e s ; the new a c t i v i t i e s in which the o f f i c e
of CPFC proposes to engage de novo are: the making,
acquiring and servicing, for i t s own account and for
the account of others, of extensions of c r e d i t to
individuals secured by liens on r e s i d e n t i a l or nonr e s i d e n t i a l real estate; and the sale of mortgage l i f e
and mortgage d i s a b i l i t y insurance d i r e c t l y related to
extensions of mortgage loans; the proposed service area
for the aforementioned proposed a c t i v i t i e s shall be comprised
37
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
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ACTIONS OF THE BOARD-Continued
of the e n t i r e State of Alabama, the proposed expanded
service area of CPFC shall be comprised of the e n t i r e
State of Alabama f o r a portion of i t s previously approved
a c t i v i t i e s , s p e c i f i c a l l y , the making or acquiring of
loans and other extensions of c r e d i t , secured or unsecured,
for consumer and other purposes; the extension of loans
to dealers f o r the financing of inventory ( f l o o r planning)
and working capital purposes; the purchasing and servicing
f o r i t s own account of sales finance contracts; the sale
of c r e d i t related l i f e and accident and health or decreasing
or level ( i n the case of single payment loans) term l i f e
insurance by licensed agents or brokers, as required; the
sale of consumer oriented fi n a n ci a l management courses;
and the s e r v i c i n g , for any person, of loans and other
extensions of c r e d i t ; c r e d i t related l i f e , accident and
health insurance may be w r i t t e n by Family Guardian L i f e
Insurance Company, an a f f i l i a t e of CHI and CPFC) at #12
North 20th Street, Birmingham, Alabama, through i t s subsidi a r i e s , C i t i c o r p Homeowners, Inc. and C i t i c o r p Person-to-Person
Financial Center, Inc. (7/24/82) 3/
New York
C i t i c o r p , New York, New York, requests permission to establ i s h four de novo o f f i c e s of i t s subsidiary, Citicorp
Homeowners, Inc. ("CHI") and t o expand the a c t i v i t i e s and
service area of four e x i s t i n g o f f i c e s of i t s subsidiary,
C i t i c o r p Person-to-Person Financial Center of F l o r i d a ,
Inc. ("CPFC") at those same l o c a t i o n s , the a c t i v i t i e s
i n which the de novo o f f i c e s of CHI propose to engage
are (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, f o r consumer
and other purposes; the sale of c r e d i t related l i f e
and accident and health or decreasing or level ( i n the
case of single payment loans) term l i f e insurance by
licensed agents or brokers, as required; the sale of
consumer oriented f i n a n c i a l management courses; the
s e r v i c i n g , f o r any person, of loans and other extensions of c r e d i t ; the making, acquiring and servicing,
f o r i t s own account and f o r the account of others, of
extensions of c r e d i t t o individuals secured by liens
on residential or non-residential real estate; and the
sale of mortgage l i f e and mortgage d i s a b i l i t y insurance
d i r e c t l y related to extensions of mortgage loans; the
proposed service area of each of the de novo o f f i c e s
of CHI shall be comprised of the e n t i r e State of Florida
for a l l the aforementioned proposed a c t i v i t i e s ; the
3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2. 19% No. 30
- 13 ACTIONS OF THE BOARD-Continued
previously approved a c t i v i t i e s in which the o f f i c e s of
CPFC engage are as follows: the making or acquiring of
loans and other extensions of c r e d i t , secured or unsecured,
for consumer and other purposes; the extension of loans t o
dealers f o r the financing of inventory ( f l o o r planning)
and working c a p i t a l purposes; the purchasing and servicing
f o r i t s own account of sales finance contracts and the
sale of c r e d i t related l i f e and accident and health
or decreasing or level ( i n the case of single payment
loans) term l i f e insurance by licensed agents or brokers,
as required; the sale of consumer oriented f i n a n c i a l
management courses; and the servicing, for any person
of loans and other extensions of c r e d i t ; the new
a c t i v i t i e s i n which the o f f i c e s of CPFC propose t o
engage de novo are: the making, acquiring and servicing,
for i t s own account and for the account of others,
of extensions of c r e d i t to individuals secured by liens
on r e s i d e n t i a l or non-residential real estate; and the
sale of mortgage l i f e and mortgage d i s a b i l i t y insurance
d i r e c t l y related to extensions of mortgage loans; the
proposed service area for each CPFC o f f i c e f o r a l l
previously approved a c t i v i t i e s shall be comprised of
the e n t i r e State of F l o r i d a ; c r e d i t related l i f e , accident and health insurance may be w r i t t e n by Family
Guardian L i f e Insurance Company, an a f f i l i a t e of CPFC
and CHI} at 5414 North Davis Highway, Pensacola, F l o r i d a ,
Windmill Gate Shopping Center, 1603 N.W. 67th Avenue,
Miami Lakes, F l o r i d a ; Executive Centre, 2300 Palm Beach
Lake B l v d . , West Palm Beach, Florida and 1915 North
Monroe, Tallahassee, F l o r i d a , through i t s subsidiaries,
C i t i c o r p Homeowners, Inc. and Citicorp Person-to-Person
Financial Center of F l o r i d a , Inc. (7/23/82) 3/
New York
C i t i c o r p , New York, New York, requests permission to establ i s h four de novo o f f i c e s of i t s subsidiary, Citicorp
Homeowners, Inc. ("CHI") and to expand the a c t i v i t i e s and
service area of four e x i s t i n g o f f i c e s of i t s subsidiary,
C i t i c o r p Person-to-Person Financial Center, Inc. ("CPFC")
at the same locations, the a c t i v i t i e s i n which the proposed de novo ofices of CHI w i l l engage are (the making
or acquiring of loans and other extensions of c r e d i t
secured or unsecured, f o r consumer and other purposes;
the sale of c r e d i t related l i f e and accident and health
or decreasing or level ( i n the case of single payment
loans) term l i f e insurance by licensed agents or brokers,
as requested; the sale of consumer oriented f i n a n c i a l
2? 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
~~ of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
-14ACTIONS OF THE BOARD-Continued
management courses; the servicing, for any person of
loans and other extensions of c r e d i t ; the making, acquiring, and servicing, for i t s own account and f o r the
account of others, of extensions of credit to
individuals secured by l i e n s on residential or nonresidential real estate; and the sale of mortgage l i f e
and mortgage d i s a b i l i t y insurance d i r e c t l y related to
extensions of mortgage loans; the proposed service area
of the de novo o f f i c e s of CHI shall be comprised of the
e n t i r e State of C a l i fo rn i a for a l l the aforementioned
a c t i v i t i e s ; the new a c t i v i t i e s in which the o f f i c e s of
CPFC propose to engage de novo are: the making, acquiring, and servicing, for~Tts own account and f o r the
account of others, of extensions of c r e d i t t o individuals
secured by l i e n s on residential or non-residential real
estate; and the sale of mortgage l i f e and mortgage disa b i l i t y insurance d i r e c t l y related t o extensions of
mortgage loans; the proposed service area of each of
the CPFC o f f i c e s f o r the aforementioned proposed
a c t i v i t i e s shall be comprised of the e n t i r e State of
C a l i f o r n i a ; the proposed expanded service area of the
CPFC o f f i c e s shall include the e n t i r e State of C a l i f o r n i a f o r the portion of t h e i r previously approved
a c t i v i t i e s , s p e c i f i c a l l y , the making or acquiring of
loans and other extensions of c r e d i t , secured or unsecured, for consumer and other purposes; the extension of loans to dealers f o r the financing of inventory
( f l o o r planning) and working c a p i t a l purposes; the purchasing and servicing f o r i t s own account of sales
finance contracts; the sale of c r e d i t related l i f e
and accident and health or decreasing or level ( i n the
case of single payment loans) term l i f e insurance by
licensed agents or brokers, as required; the sale of
consumer oriented financial management courses and the
servicing, f o r any person, of loans and other extensions of c r e d i t ; credit related l i f e , accident and
health insurance may be w r i t t e n by Family Guardian
L i f e Insurance Company, an a f f i l i a t e of CPFC and CHI)
at Four Seasons Office B u i l d i n g , 4827 Sepulveda B l v d . ,
Suite 100, Sherman Oaks, C a l i f o r n i a ; 119 North Central
Avenue, Glendale, C a l i f o r n i a ; Vanir Tower City Mall
Plaza, 290 N. "0" Street, Suite 804, San Bernardino,
C a l i f o r n i a ; and 21707 Hawthorne B l v d . , Suite 106, Torrance,
C a l i f o r n i a , through i t s subsidiaries, C i t i c o r p Homeowners,
Inc. and C i t i c o r p Person-to-Person Financial Center,
Inc. (7/23/82) 3/
37
4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
- 15 ACTIONS OF THE BOARP-Continued
New York
C i t i c o r p , New York, New York, requests permission to establ i s h de novo o f f i c e s of i t s subsidiary, Citicorp Homeowners, Inc. ("CHI") and to expand the a c t i v i t i e s and
service area of eight e x i s t i n g o f f i c e s of i t s subsidi a r y , Citicorp Person-to-Person Financial Center, Inc.
("CPFC") at the same locations, the a c t i v i t i e s to be
engaged in by the de novo o f f i c e s of CHI w i l l include
(the making or acquiring of loans and other extensions
of c r e d i t , secured or unsecured, for consumer and other
purposes; the making, acquiring and servicing for i t s
own account and for the account of others, extensions of
of c r e d i t to individuals secured by liens on residential
or non-residential real estate; the sale of c r e d i t related l i f e and accident and health or decreasing or level
(in the case of single payment loans) term l i f e insurance
by licensed agents or brokers, as required; the sale of
mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y
related to extensions of mortgage loans; the sale of
consumer oriented financial management courses; and the
servicing, for any person, of loans and other extensions
of c r e d i t ; the proposed service area of the de novo
o f f i c e s shall be comprised of the e n t i r e States of
Arizona, Nevada and New Mexico for a l l the aforementioned
a c t i v i t i e s ; the new a c t i v i t i e s in which the CPFC o f f i c e s
propose to engage de novo are: the making, acquiring
and servicing, for i t s own account and for the account
of others, of extensions of c r e d i t to individuals secured
by liens on residential or non-residential real estate;
and the sale of mortgage l i f e and mortgage d i s a b i l i t y
insurance d i r e c t l y related to extensions of mortgage
loans; the proposed service area for the aforementioned
proposed a c t i v i t i e s shall be comprised of the e n t i r e
States of Arizona, Nevada and New Mexico; the proposed
expanded service area of the CPFC o f f i c e s shall include
the e n t i r e States of Arizona, Nevada and New Mexico for
a portion of t h e i r previously approved a c t i v i t i e s ;
s p e c i f i c a l l y , the making or acquiring of loans and other
extensions of c r e d i t , secured or unsecured, for consumer
and other purposes; the sale of c r e d i t related l i f e and
accident and health or decreasing or level (in the case
of single payment loans) term l i f e insurance by licensed
agents or brokers, as required; the sale of consumer oriented
financial management courses; and the servicing, for any
person, of loans and other extensions of c r e d i t ; in regard
H.2, 1982 No. 30
-
16
-
ACTIONS OF THE BOARD-Continued
to c r e d i t related insurance, the business of a general
insurance agency w i l l not be conducted; c r e d i t related
decreasing term l i f e insurance and accident and health
insurance may be underwritten by Family Guardian Life
Insurance Company, an a f f i l i a t e of CPFC and CHI) at 7620
E. Indian School Road, Scottsdale, Arizona; 9861 Meto
Parkway West, Phoenix, Arizona; 2077 East Camel back
Road, Phoenix, Arizona; 111 E. Missouri Avenue, Phoenix,
Arizona; T r i - C i t y Mall, 1836.West Main Street, Mesa,
Arizona; Thomas Mall, 4421 A East Thomas Road, Phoenix,
Arizona; 143 Valley West M a l l , 5719 West Northern Avenue,
Glendale, Arizona; and Chris Town Shopping Center, 1558
West Montebello, Phoenix, Arizona, through i t s subsidi a r i e s , Citicorp Homeowners, Inc. and Citicorp Personto-Person Financial Center, Inc. (7/22/82) 3/
New York
C i t i c o r p , New York, New York, requests permission to
expand the a c t i v i t i e s and service area of an e x i s t i n g
o f f i c e engaging in the following a c t i v i t i e s (previously
approved a c t i v i t i e s : the making of loans to individuals
and businesses secured by second mortgage l i e n s ; the sale
of c r e d i t related l i f e and accident and health or decreasing or level (in the case of single payment loans) term
l i f e insurance by licensed agents or brokers, as required;
the servicing, for any person, of loans and other extensions of c r e d i t ; and the sale of consumer oriented f i nancial management courses; the a c t i v i t i e s in which the
subsidiary proposes to engage de novo are: the making,
acquiring and s e r v i c i n g , for i t s own account and for
the account of others, of extensions of credit to
individuals secured by liens on residential or nonresidential real estate; and the sale of mortgage l i f e
and mortgage d i s a b i l i t y insurance d i r e c t l y related to
extensions of mortgage loans; the proposed service area
for the previously approved and proposed a c t i v i t i e s
shall be comprised of the e n t i r e State of Connecticut)
at Carriage H i l l Shopping Center, 1200 Postroad East,
Westport, Connecticut, through i t s subsidiary, Citicorp
Person-to-Person Financial Center of Connecticut, Inc.
(7/17/82) 3/
Cleveland
Banc One Corporation, Columbus, Ohio, n o t i f i c a t i o n of intent
to engage in de novo a c t i v i t i e s (leasing personal property
and equipment, or acting as agent, broker, or advisor in
leasing of such property where such property is acquired
by the lessor at the request of the lessee, for business
purposes and where at the inception of the i n i t i a l lease
3?
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
- 17 ACTIONS OF THE BOARP-Continued
the expectation is that the e f f e c t of the transaction
and reasonably anticipated future transactions with the
same lessee as to the same property w i l l be to compensate
the lessor for not less than the lessor's f u l l investment
in the property; making, acquiring, and s e l l i n g for i t s
own account and for the account of others, loans and other
extensions of c r e d i t including loans to finance agricultural
production, commercial and i n d u s t r i a l loans, and loans to
individuals for household, f a m i l y , and other personal
expenditures; and servicing such loans and other extensions of c r e d i t for i t s e l f and for n o n - a f f i l i a t e d banks
and for i n s t i t u t i o n a l investors) at 9023 Darrow Road,
Twinsburg, Ohio, through i t s subsidiary, Banc One Financial
Corporation (7/22/82) 3/
Richmond
37
Maryland National Corporation, Baltimore, Maryland, n o t i f i cation of intent to engage in de novo a c t i v i t i e s (engaging generally in the business of leasing personal property
including, but not l i m i t e d t o , the leasing of various types
of equipment, machinery, vehicles, transportation equipment , and data processing equipment and including conditional
sales contracts and chattel mortgages where the lease is the
functional equivalent of an extension of c r e d i t ; o r i g i n a t i n g
and servicing personal property leases as principal or agent;
buying, s e l l i n g and otherwise dealing in personal property
lease contracts as principal or agent; acting as adviser in
personal property leasing transactions; engaging in the
sale, as agent or broker, of insurance similar in form
and intent to c r e d i t l i f e and/or mortgage redemption
insurance; engaging generally in the business of leasing real property where the lease is the functional
equivalent of an extension of c r e d i t ; o r i g i n a t i n g
real property leases as principal or agent; servicing
real property leases for a f f i l i a t e d or n o n a f f i l i a t e d
i n d i v i d u a l s , partnerships, corporations or other
e n t i t i e s ; buying, s e l l i n g and otherwise dealing in
real property leases as p r i n c i p a l , agent or broker;
acting as adviser in real property leasing transactions;
engaging generally in commercial lending operations i n cluding, but not be limited t o , secured and unsecured
commercial loans and other extensions of c r e d i t to
commercial enterprises; and acting as advisor or broker
in commercial lending transactions) at Suite 105C,
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
— 18 •
ACTIONS OF THE BOARD-Continued
Prospect Center Office B u i l d i n g , 301 Sovereign Court,
Manchester, Missouri and Suite 804, F i d e l i t y Federal
B u i l d i n g , 401 Union Street, Nashville, Tennessee,
through I t s subsidiary, Maryland National Leasing
Corporation (7/23/82) 3/
Atlanta
Citizens and Southern Georgia Corporation, A t l a n t a , Georgia,
n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s
( i n mortgage lending and mortgage banking a c t i v i t i e s ,
including the extension of d i r e c t loans to consumers, the
purchase and discount of real estate loans and other extensions of c r e d i t , making, acquiring, servicing or
s o l i c i t i n g , for i t s own account or for the account of
others, loans and other extensions of c r e d i t ; and
acting as agent for the sale of l i f e , accident and
health insurance d i r e c t l y related to i t s extensions of
c r e d i t ) at 110 E. Clayton Street, Athens; 709 Broad Street,
Augusta; 1895 Phoenix B l v d . , Suite 336, College Park; 487
Cherry S t r e e t , Macon; 400 Market Place, Roswell; 300 Bull
S t r e e t , Savannah; 2059 Cooledge Avenue, Tucker; and
106 S. Patterson Street, Valdosta, a l l located in
Georgia, through i t s subsidiary, Citizens and Southern
Mortgage Company (7/19/82) 3/
San
Francisco
Charter National Bancorp, Encino, C a l i f o r n i a , n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (making or
acquiring, f o r i t s own account or for the account of
others, loans and other extensions of c r e d i t ( i n c l u d ing issuing l e t t e r s of c r e d i t and accepting d r a f t s )
such as would be made by a mortgage, finance, c r e d i t
card or factoring company; these a c t i v i t i e s are proposed to be financed by loans t o Charter National F i nance Corporation, by a non a f f i l i a t e d bank or banks,
which loans may be guaranteed by Charter National Bancorp)
at 16810 Ventura Boulevard, Encino, (Los Angeles),
C a l i f o r n i a , serving the State of C a l i f o r n i a , through
a subsidiary, Charter National Finance Corp. (7/18/82) 3/
San
Francisco
Rainier Bancorporation, Seattle, Washington, n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (making or
acquiring for i t s own account or for the account of
others, loans or other extensions of c r e d i t ; and acting as an insurance agent or broker with regard to
insurance that is d i r e c t l y related to extensions of
c r e d i t by Rainier Mortgage Company in the following
77
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
- 19 ACTIONS OF THE BOARD-Continued
categories: mortgage redemption insurance in the
form of c r e d i t l i f e and d i s a b i l i t y insurance; property
and casualty insurance on real and personal property,
including homeowners, f i r e and extended coverage,
l i a b i l i t y , b u i l d e r ' s course of construction, and
builder borrower insurance and performance bonds) in
Lakewood, Colorado, serving the e n t i r e State of
Colorado, through i t s subsidiary, Rainier Mortgage
Company (7/23/82) 3/
San
Francisco
17
U.S. Bancorp, Portland, Oregon, n o t i f i c a t i o n of intent
to engage in de novo a c t i v i t i e s (making, acquiring and
servicing of Toans and other extensions of c r e d i t ,
either secured or unsecured, for i t s own account or
the account of others including, but not limited t o ,
commercial, rediscount and installment sales contracts;
to issue t h r i f t c e r t i f i c a t e s and passbooks and to act
as insurance agent with regard to credit l i f e and disa b i i l t y insurance solely in connection with extensions
of c r e d i t by U.S. T h r i f t , in conformance with the
provision of Sections 225.4(a)(1), ( 2 ) , (3), and
( 9 ) ( I ) of Regulation Y) at 2 East Broadway, Salt
Lake C i t y , Utah, the primary service area is defined
as that area north of 2100 South Street, east of 1-15
and bordered to the north and east by the Wasatch Mountain
through i t s subsidiary, U.S. T h r i f t & Loan (7/23/82) 3/
4(c)(8) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board
of Governors under delegated a u t h o r i t y .
H.2, 1982 No. 30
- 2 0 -
APPLICATIONS RECEIVED
To Merge Pursuant to Section 18(c) of the
Federal Deposit Insurance Act
St. Louis
E l l i o t State Bank, Jacksonville, I l l i n o i s , to merge
with Es Bank, Jacksonville, I l l i n o i s . 2J
*
*
*
*
*
To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Chicago
Es Bank, Jacksonville, I l l i n o i s . 2/
Dallas
Traders State Bank, Canton, Texas. 2_/
Dallas
Commonwealth Bank of A r l i n g t o n , A r l i n g t o n , Texas. 2/
*
*
*
*
*
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
New York
The Bank of New York, New York, New York. To establish
eighty o f f s i t e electronic f a c i l i t i e s in the following
counties:
1 branch - Cattaraugus County 2J
3 branches - Chautauqua County 2j
67 branches - Erie County 2/
1 branch - Genesee County 2/
6 branches - Niagara County 2J
2 branches - Orleans County 2/
New York
European American Bank & Trust Company, New York, New York.
To relocate a branch from 320 Park Avenue, to 545 Madison
Avenue, New York, New York. 2/
Richmond
Bank of the James, Manakin-Sabot, V i r g i n i a . To establish
a branch at the intersection of Gaskins Road and Stoneridge
Lane, Henrico County, V i r g i n i a . 2/
Richmond
Piedmont Bank and Trust Company, Davidson, North Carolina.
To establish a branch at 9 Union Street North, Main Street
M a l l , Suite 101, Concord, Cabarrus County, North Carolina. 2/
2/
Application subject to Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1982 No. 30
- 21 APPLICATIONS RECEIVED-Continued
Chicago
Peoples Bank and Trust Company, Cedar Rapids, Iowa. To
establish an o f f s i t e electronic f a c i l i t y at 151 Jacolyn
Drive NW, Cedar Rapids, Iowa. 2/
San
Francisco
Santiam Valley Bank, Aumsville, Oregon. Branch o f f i c e
to be located at 300 N.W. Santiam Boulevard, M i l l City
Marion County, Oregon. 2/
*
*
*
*
*
Applications and N o ti fi ca ti o n s for International
Investments and Other Actions Pursuant to Sections 25
and 25(a) of the Federal Reserve Act and Sections
4(c)(9) and 4(c)(13) of the Bank Holding Company
Act of 1956, as amended
New York
A l l i e d International Bancorp, I n c . , New York, New York:
requests consent to redeem 400 shares of the preferred
stock of A l i i e d 1 s wholly owned Edge Act corporation,
A l l i e d Bank I n t e r n a t i o n a l , New York, New York.
New York
C i t i c o r p , New York, New York: prior n o t i f i c a t i o n of i t s
intent to make an additional investment, either d i r e c t l y
or i n d i r e c t l y , in Citilease Co., L t d . , Tokyo, Japan.
New York
Marine Midland Banks, I n c . , Buffalo, New York: prior noti f i c a t i o n of i t s intent to establish a de novo company in
Curacao, Netherlands A n t i l l e s to be named Marine Midland
Finance N.V.
Richmond
Maryland National Bank, Baltimore, Maryland: for permission to
change the name of i t s Edge Corporation, Maryland National
Overseas Investment Corporation, t o Maryland Bank I n t e r n a t i o n a l , and to establish a branch of that Corporation at
Tysons Corner, V i r g i n i a .
Atlanta
F i r s t Palm Beach International Bank, Coral Gables, Florida:
grants consent to establish a subsidiary bank and t r u s t
company, F i r s t Palm Beach International Bank & Trust Company
(Cayman Islands) L t d . , in the Cayman Islands.
2_! Application subject in Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1982 No. 30
- 2 2 -
APPLICATIONS RECEIVED-Continued
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Philadelphia
Drovers Bancshares Corporation, York, Pennsylvania, for
approval to acquire 100 percent of the voting shares of
The Drovers & Mechanics Bank, York, Pennsylvania. 2/
Philadelphia
Palm Bancorp, Palmerton, Pennsylvania, for approval to
acquire 100 percent of the voting shares of The F i r s t
National Bank of Palmerton, Palmerton, Pennsylvania. 2/
Cleveland
Manchester Bancorp, I n c . , Manchester, Kentucky, for approval
to acquire 100 percent of the voting shares of F i r s t State
Bank, Manchester, Kentucky. 2/
Atlanta
F i r s t Port Allen Bancshares, I n c . , Port A l l e n , Louisiana,
for approval to acquire at least 80 percent of the voting
shares of F i r s t National Bank of Port A l l e n , Port Allen,
Louisiana. 2/
Atlanta
The Magnolia State Corporation, Bay Springs, Mississippi, for
approval to acquire at least 80 percent of the voting shares
of Jasper County Bank, Bay Springs, Mississippi. 2/
Atlanta
WCG Bancshares, I n c . , Thomaston, Georgia, for approval to
acquire 100 percent of the voting shares of West Central
Georgia Bank, Thomaston, Georgia. 2]
Chicago
Cedar Valley Bankshares, L t d . , Charles C i t y , Iowa, for approval
to acquire at least 95.17 percent of the voting shares of
F i r s t Security Bank & Trust Company, Charles C i t y , Iowa. 2/
Chicago
City Bankshares, I n c . , Portage, Wisconsin, for approval to
acquire at least 80 percent of the voting shares of City
Bank and Trust Company, Portage, Wisconsin. 2/
Chicago
Essex Iowa Bancorporation, I n c . , Essex, Iowa, for approval
to acquire at least 80 percent of the voting shares of
The F i r s t National Bank of Essex, Essex, Iowa. 2/
Chicago
Gainer Corporation, M e r r i l l v i l i e , Indiana, for approval to
acquire 100 percent of the voting shares of the successor
by merger to Gary National Bank, Gary, Indiana. 2/
2/
Application subject to Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1982 No. 30
- 23 APPLICATIONS RECEIVED-Continued
Chicago
Southern Michigan Bancorp, I n c . , Coldwater, Michigan, for
approval to acquire 100 percent of the voting shares of
the successor by merger to Southern Michigan National Bank
of Coldwater, Coldwater, Michigan. 1)
St. Louis
E l l i o t t Bancorp, I n c . , Jacksonville, I l l i n o i s , for approval
to acquire 100 percent (less d i r e c t o r s ' q u a l i f y i n g shares)
of the voting shares of E l l i o t t State Bank, Jacksonville,
I l l i n o i s . 2/
St. Louis
Southside Bancshares Corp., St. Louis, Missouri, for approval
to acquire 100 percent of the voting shares of the successor
by merger to South Side National Bank in St. Louis, St. Louis,
Missouri. If
Minneapolis
Ashby Bancshares, I n c . , Ashby, Minnesota, for approval to
acquire at least 83.6 percent of the voting shares of F i r s t
State Bank of Ashby, Ashby, Minnesota. 2J
Minneapolis
Financial Services of St. Croix F a l l s , I n c . , St. Croix F a l l s ,
Wisconsin, for approval to acquire at least 92.818 percent of
the voting shares of The F i r s t National Bank of St. Croix
F a l l s , St. Croix F a l l s , Wisconsin, 2/
Minneapolis
Noble Bank Holding Company, I n c . , Red Wing, Minnesota, for
approval to acquire at least 91.2 percent of the voting
shares of The F i r s t State Bank o f Red Wing, Red Wing,
Minnesota. 2/
Kansas City
Century Bank Shares, Lyman, Wyoming, for approval to acquire
at least 80 percent of the voting shares of F i r s t State
Bank of Lyman, Lyman, Wyoming. 2/
Kansas City
Valley Bancorp, I n c . , Hopkins, Missouri, for approval to
acquire at least 96.72 percent of the voting shares of
Thirty-Three Venturers, I n c . , Hopkins, Missouri and i n d i r e c t l y Valley Bank, Hopkins, Missouri. 2/
Dallas
F i r s t Comanche Bancshares, I n c . , Comanche, Texas, for approval
to acquire 100 percent of the voting shares of F i r s t Comanche
Bank, Comanche, Texas. 2/
Dallas
F o l l e t t Bancshares, I n c . , F o l l e t t , Texas, for approval to
acquire at least 80 percent of the voting shares of
The F o l l e t t National Bank, F o l l e t t , Texas. 2/
77
Application subject to Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length o f the comment period.
H.2, 1982 No. 30
- 24 APPLICATIONS RECEIVED-Continued
Dallas
Plainview F i r s t National Bancshares, I n c . , Plainview,
Texas, for approval to acquire 80 percent or more of the
voting shares of F i r s t National Bancshares, I n c . , Plainview,
Texas and F i r s t National Bank of Plainview, Plainview, Texas.
2/
*
*
*
*
*
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Cleveland
Provident Bancorp, I n c . , Cincinnati, Ohio, for approval to
acquire 100 percent of the voting shares of The Midwest
Bank & Trust Co., Cleveland, Ohio. 2/
Cleveland
Toledo Trustcorp, Toledo, Ohio, for approval to acquire at
least 66.66 percent of the voting shares of F i r s t Buckeye
Bank N.A., Plymouth, Ohio. 2/
Richmond
Bank of V i r g i n i a Company, Richmond, V i r g i n i a , for approval
to acquire 21.2 percent of the voting shares of The Bank
of Vienna, Vienna, V i r g i n i a . 27
Atlanta
71 Corporation, Tampa, Florida (formerly M u l t i - L i n e , I n c . ) ,
for approval to acquire F i r s t Florida Banks, I n c . , Tampa,
F l o r i d a , and i n d i r e c t l y acquire at least 90 percent of the
voting shares of Northeast Bank of Clearwater, Clearwater,
Florida. 2/
Chicago
Peoples Bankshares, L t d . , Waterloo, Iowa, for approval to
acquire at least 80 percent of the voting shares of Melbourne
Savings Bank, Melbourne, Iowa. 2/
Kansas City
A f f i l i a t e d Bankshares of Colorado, I n c . , Boulder, Colorado,,
for approval to acquire at least 90 percent of the voting
shares of Alameda National Bank, Lakewood, Colorado. 2/
Dal las
Schreiner Bancshares, I n c . , K e r r v i l l e , Texas, for approval
to acquire 100 percent of the voting shares of Southwest
National Bank, Austin, Texas. 2/
Dal las
Texas Commerce Bancshares, I n c . , Houston, Texas, for approval
to acquire 100 percent of the voting shares of Texas
Commerce Bank-Greens Crossing, National Association, Houston,
Texas, a proposed new bank. 2/
77
Application subject to Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1982 No. 30
-25APPLICATIONS RECEIVED-Continued
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Chicago
Peoples Banfshares, L t d . , Waterloo, Iowa, for approval to
merge with K-S Banco, I n c . , Waterloo, Iowa, thereby acquiring
100 percent of the voting shares of Kellogg-Sully Bank &
Trust, Kellogg, Iowa. 2/
*
*
*
*
*
To Expand a Bank Holding Company Pursuant to Section
4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956
Boston
OLD STONE CORPORATION, Providence, Rhode Island, n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (in operating a
loan or investment bank as authorized by Rhode Island law,
including the acceptance of time and savings deposits but
excluding the acceptance of demand deposits or the making
of commercial loans) at Metro Center Office Park, Warwick,
Rhode Island, serving p r i m a r i l y the c i t i e s and town of
Warwick, West Warwick, Cranston and East Greenwich plus
Washington County in the State of Rhode Isand, through
i t s subsidiary, Guild Loan & Investment Company (7/19/82)
Boston
OLD STONE CORPORATION, Providence, Rhode Island, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making or
acquiring and servicing short-term f i r s t and second mortgage
loans in V i r g i n i a , Arizona and Georgia, and in insurance
agency a c t i v i t i e s for the sale of casualty insurance sold
in connection with extensions of c r e d i t in Arizona and Georgia)
at 3974 Woodcock Drive, Jacksonville, F l o r i d a , serving the
States of V i r g i n i a , Arizona and Georgia, through i t s i n d i re ct
subsidiary, UniCredit Corporation of Fla. (7/23/82)
New York
The Chase Manhattan Corporation, New York, New York, requests
permission to establish a de novo o f f i c e engaging in the
following a c t i v i t i e s (making or acquiring, for i t s own
account or for the account of others, loans and other ex- »
tensions of c r e d i t such as would be made by a commercial
finance, equipment finance or factoring company, including
f a c t o r i n g accounts receivable, making advances and overadvances on receivable and inventory and business installment
lending as well as unsecured commercial loans; servicing loans
and other extensions of c r e d i t ; leasing personal property
on a f u l l payout basis and in accordance with the Board's
2/
Application subject to Community Reinvestment Act. The Community
A f f a i r s Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1982 No. 30
-26APPLICATIQNS RECEIVED-Continued
Regulation Y, or acting as agent, broker or advisor in so
leasing such property, including the leasing of motor vehicles)
at Knoll Center, Suite 3000, 4000 MacArthur Boulevared, Newport
Beach, C a l i f o r n i a , through i t s subsidiary, Chase Commercial
Corporation (7/21/82)
New York
C i t i c o r p , New York, New York, requests permission to establish
de novo o f f i c e s engaging in the following a c t i v i t i e s (the
sale of United States dollar and foreign-denominated travelers
checks) at Miami International A i r p o r t , Miami, Flordia and
Houston Intercontinental A i r p o r t , Houston, Texas, through
i t s subsidiary, Citicorp (USA), Inc. (7/21/82)
New York
Manufacturers Hanover Corporation, New York, New York, requests
permission to relocate an e x i s t i n g o f f i c e and to expand the
service area of the relocated o f f i c e engaging in the following
a c t i v i t i e s (making or acquiring loans and other extensions of
c r e d i t , secured or unsecured, such as would be made or acquired
by a finance company under South Carolina Law; and o f f e r i n g
c r e d i t related l i f e insurance and c r e d i t accident, health,
and property insurance; the o f f i c e w i l l serve customers in
Richland, Lexington, Saluda, Newberry, Aiken, F a i r f i e l d ,
Kershaw, Sumter, Lee, Clarendon, Calhoun and Orangeburg
counties) from 1700 Sumter Street, Columbia, South Carolina
to 7350 A" Two Notch Road, Columbia, South Carolina, through
i t s subsidiary, Finance One of South Carolina, Inc. (7/22/82)
Philadelphia
Philadelphia National Corporation, Philadelphia, Pennsylvania,
n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (in
commercial finance and factoring a c t i v i t i e s including the
s o l i c i t a t i o n and making of loans to inventory, machinery
and equipment and/or other commercial finance c o l l a t e r a l and
the factoring of accounts receivable) at 400 MacArthur Boulevard,
Newport Beach, C a l i f o r n i a , serving Orange County, C a l i f o r n i a ,
through i t s subsidiary, Congress Financial Corporation (7/24/82)
Cleveland
Provident Bancorp, I n c . , Cincinnati, Ohio, for approval to
acquire 100 percent of the voting shares of Midwest Management Service Company, Cleveland, Ohio.
Chicago
Associated Banc-Corp., Green Bay, Wisconsin, n o t i f i c a t i o n of
intent to engage in de novo a c t i v i t i e s (in mortgage banking)
at 220 North Madison Street, Green Bay, Wisconsin, the
geographic area to be served w i l l be the southern Wisconsin
counties of Marquette, Columbia, Dane, Rock, Walworth,
Milwaukee, Dodge, and Sheboygan and northern I l l i n o i s
counties of Boone, McHenry, Lake, Winnebago, Kane, Du Page,
Cook and W i l l , through i t s subsidiary, Associated Mortgage,
Inc. (7/17/82)
H.2, 1982 No. 30
-27APPLICATIONS RECEIVED-Continued
Kansas City
F i r s t Oklahoma Bancorporation, I n c . , Oklahoma C i t y , Oklahoma,
n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s
(making or acquiring loans and other extensions of c r e d i t
such as would be made by a commercial finance company,
including commercial loans secured by a borrower's i n ventory, accounts receivable, or other assets; servicing
such loans for others; and making leases of personal property in accordance with the Board's Regulation Y) at
120 North Robinson, Oklahoma C i t y , Oklahoma, serving
Oklahoma, Kansas, Arkansas, Missouri, Colorado, New Mexico,
Texas, and Louisiana, through i t s subsidiary, F i r s t Oklahoma
Commercial Corporation (7/23/82)
Kansas City
Jent, I n c . , Grinnel1, Kansas, n o t i f i c a t i o n of intent to engage
in de novo a c t i v i t i e s (making, for i t s own account or for
the account of others, loans and other extensions of c r e d i t
including issuing l e t t e r s of c r e d i t and accepting d r a f t s )
at 404 E. Front, Oakley, Kansas, serving an area within a
f i f t e e n mile radius of the communities of Oakley and Grinnel1,
Kansas (7/22/82)
Dal las
F i r s t City Financial Corporation, Albuquerque, New Mexico,
(making or acquiring loans or extensions of c r e d i t such as
would be made by a commercial bank or commercial finance
company) at 4665 Indian School Road, NE, Albuquerque, New
Mexico, serving New Mexico (7/20/82)
San
Francisco
Capistrano Bancorp, San Juan Capistrano, C a l i f o r n i a , n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (making or acquiring
for i t s own account loans and other extensions of c r e d i t ,
including commercial loans secured by a borrower's inventory,
accounts receivable, real estate or other assets and servicing
loans in accordance with the Board's Regulation Y) at 2111 W.
Crescent, Anaheim, C a l i f o r n i a , serving the State of C a l i f o r n i a ,
through i t s subsidiary, Crest Mortgage Co. (7/23/82)
San
Francisco
F i r s t Interstate Bancorp, Los Angeles, C a l i f o r n i a , n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (in investment or
f inancial advisory a c t i v i t i e s to the extent of ( i ) serving
as the advisory company for a mortgage or real estate investment t r u s t ; ( i i ) serving as investment adviser, as defined
in section 2(a)(20) of the Investment Company Act of 1940,
to an investment company registered under that Act; ( i i i )
providing p o r t f o l i o investment advice to any other person;
( i v ) furnishing general economic information and advice,
general economic s t a t i s t i c a l forecasting services and industry
studies; and (v) providing f i n a n c i a l advice to State and
local governments, such as with respect to the issuance of
H.2, 1982 No. 30
- 2 8 -
APPLICAT10NS RECEIVED-Continued
t h e i r s e c u r i t i e s ) at 320 Gold Avenue, S.W., in Albuquerque,
New Mexico, serving the f i f t y states, through i t s subsidiary,
Western Asset Management Company (7/18/82)
San
Francisco
Security Pacific Corporation, Los Angeles, C a l i f o r n i a , n o t i f i c a t i o n
of intent to engage in de novo a c t i v i t i e s (making or acquiring
for i t s own account or for the account of others, loans and
extensions of c r e d i t , including making consumer installment
personal loans, purchasing consumer installment sales finance
contracts, making loans to small businesses and other extensions
of c r e d i t such as would be made by a factoring company or a
consumer finance company, and acting as broker or agent for
the sale of c r e d i t l i f e and c r e d i t accident and health i n surridce) in Cherry H i l l , New Jersey, serving the State of New
Jersey, through i t s subsidiary, Security Pacific Finance Corp.
(7/20/82)
San
F rancisvo
Wells Fargo & Company, San Francisco, C a l i f o r n i a , n o t i f i c a t i o n of
intent to engage in de novo a c t i v i t i e s ((1) making loans and
extensions of c r e d i t primarily to corporations, individuals or
partnerships engaged in a g r i c u l t u r a l production, d i s t r i b u t i o n ,
processing, or other a g r i c u l t u r a l a c t i v i t i e s ; (2) servicing the
loans or extensions of c r e d i t described in (1) above including
loan p a r t i c i p a t i o n s with other lenders) in Spokane, Washington,
serving the e n t i r e United States, however, w i l l primarily focus
on Washington, Oregon, Idaho, California and Nevada, through
i t s subsidiary, Wells Fargo Ag Credit (7/16/82)
*
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*
*
Ownership Statement Filed Pursuant to Section
of the Securities Exchange Act
13(d)
The Bank of Vienna, Vienna, V i r g i n i a
(Filed by Meyer H. Abraham)
PETITIONS FOR RULEMAKING
None
i
@FedFRASER