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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. 24 During the Week Ending June 10, 1972 District 12 Da to. Current Report Filed Pursuant to Section 1.3 of the Securities Exchange Act Received Union Bank, Los Angeles, California (May 1972) 6/6/72 Proxy Statement (Special Meeting) Filed Pursuant to Section 14(a) of the Securities Exchange Act Received The Trust Company of New Jersey, Jersey City, New Jersey 6/2/72 /V „V- i< 1 2 ic i< To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act _ _ Received Cape Cod Bank and Trust Company, Hyannis, Massachusetts. Branch to be established on Workshop Road, Yarmouth. Manufacturers Hanover Trust Company, New York, New York. Branch to be established on the southwest corner of Anderson Street and Le Count Place, City of New Rochelle, Westchester County. H.2 1972 No. 24 -2- 2 Received Cont'd, Marine Midland Trust Company of Central New York, Syracuse, New York. Branches to be established at the following locations: A. 3540 Mil ton Avenue, Town of Camullus, Onondaga County. B. Public accommodation office as an adjunct to Northern Lights Office, Northern Lights Shopping Center, North Syracuse, County of Onondaga. C. Public accommodation office at 301 Butternut Street, Syracuse, County of Onondaga. The County Trust Company, White Plains, New York. Branch to be established in the immediate vicinity of the intersection of Pelham Road and Franklin Avenue, City of New Rochelle, County of Westchester, New York. Wilmington Trust Company, Wilmington, New Castle County, Delaware. Branch to be established on the corner of Delaware Route 299 and New Street, Middletown, New Castle County. The Dollar Savings and Trust Company, Youngs town, Ohio. Branch to be established at 1350 Fifth Avenue, Youngs town, Mahoning County. Citizens Bank and Trust Company, Clare, Michigan. Branch to be established at 4995 East Pickard Road, Mount Pleasant. Isabella County State Bank, Mount Pleasant, Michigan. Branch to be established at 1202 East Pickard Road, Mount Pleasant. Approved ''Manufacturers and Traders Trust Company, Buffalo, New York. Branch to be established on the north side of Maple Ridge Road (Route 31), Maple Ridge Plaza, Medina, Orleans County. * Application processed"by the Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 24 Approved Cont'd. ^Marine Midland Bank-Western, Buffalo, New York. Branch to be established in the immediate vicinity of the intersection of Camp Road and Sunset Drive, Town of Hamburg, Erie County. ^Niagara Frontier Bank of New York, Buffalo, New York. Branch to be established at 1681 Niagara Falls Boulevard, Town of Amherst, Erie County. *Long Island Trust Company, Garden City, New York. Limited purpose facility to be established at the United States Merchant Marine Academy, Kings Point. ^Dutchess Bank and Trust Company, Poughkeepsie, New York. Branches to be established at the following locations: A. Route 52 and Cary Avenue, Fishkill. B. 130 North Road, Fairview, Town of Poughkeepsie, Dutchess County. *The Schenectady Trust Company, Schenectady, New York. Branch to be established at 1847 Central Avenue, Town of Colonie, Albany County. *First Trust and Deposit Company, Syracuse, New York. Branch to be established in the immediate vicinity of proposed Utica Mall, to be located on the east side of Horatio Arterial (N. Y. Route 12), north of Riverside Drive, Utica, Oneida County *First Virginia Bank, Falls Church, Virginia. Branch to be established at 8108 Old Dominion Drive, McLean, Fairfax County. ^United Virginia Bank of Fairfax, Vienna, Virginia. Branch to be established in the Chantilly Plaza Shopping Center, U. S. Route 50 at the intersection with Galesbury Road, Fairfax County. *Genesee Merchants Bank & Trust Company, Flint, Michigan. Branch to be established at 4144 Davison Road, Burton Township, Genesee County. * Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 24 To Establish an Overseas Branch of a Member Bank Pursuant Co Section 25 of the Federal Reserve Act Received First National Bank of Louisville, Louisville, Kentucky. Branch to be established in Grand Cayman Islands, West Indies. 2 Thirty Day Notice of Intention to Establish an Additional Branch in a Foreign Country Re ceived The Chase Manhattan Bank, N,A. New York, New York. Additional branch to be established in Virgin Islands, to be located in St. Croix. V? V? * ic Ye To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act Correction It was erroneously published in H.2--1972—Nov 23 that Mellon National Bank and Trust Company, Pittsburgh, Pennsylvania is located in Federal Reserve District No. 3, the actual district for subject bank is No. 4. To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Community Banks of Florida, Inc., Seminole, Florida, for prior approval to acquire 80 per cent or more of the outstanding voting shares of the following banks: Bank of Seminole, Seminole, Florida; First Community Bank, Largo, Florida; First Commercial Bank, St. Petersburg, Florida; First Bank of West Pasco, Pasco County, Florida; and Northside Community Bank, St. Petersburg, Florida. * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received New Jersey National Corporation, Trenton, New Jersey, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of New Jersey National Bank of Princeton, Princeton, New Jersey, a proposed new bank. First Banc Group of Ohio, Inc., Columbus, Ohio, for prior approval to acquire the successor by merger to The Liberty National Bank, Fremont, Fremont, Ohio. First Banc Group of Ohio, Inc., Columbus, Ohio, for prior approval to acquire 100 per cent (less directors 1 qualifying shares) of the voting shares of the successor by merger to The First National Bank and Trust Company of Ravenna, Ravenna, Ohio. Virginia Commonwealth Bankshares, Inc., Richmond, Virginia, for prior approval to acquire 100 per cent of the voting shares of Bank of VirginiaEastern Shore, Onancock, Virginia, the successor by merger to The First National Bank in Onancock, Onancock, Virginia. H.2 ^ 1972 No. 24 _6- Received Continued Central and State National Corporation of Alabama, Birmingham, Alabama, for prior approval to acquire at least 80 per cent of the voting shares of The Citizens T Bank of Eufaula, Alabama, Eufaula, Alabama. First Alabama Bancshares, Inc., for prior approval to acquire per cent of the voting shares Bank & Trust Company, Dothan, Birmingham, Alabama, not less than 80 of the Dothan Alabama. General Financial Systems, Inc., Riviera Beach, Florida, for approval to retain 12,450 shares of the voting shares of the Tri-City Bank, Palm Beach Gardens, Florida. First Tennessee National Corporation, Memphis, Tennessee, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to First Bank and Trust Co., Dyersburg, Tennessee. 10 Wyoming Bancorporation, Cheyenne, Wyoming, for prior approval to acquire 500 or more of the voting shares of The Stockgrowers Bank of Evanston, Evanston, Wyoming. 11 F & M Operating Company, Abilene, Texas, for prior approval to acquire 3.9 per cent of the voting shares of Bank of Commerce, Abilene, Texas. 11 F & M Operating Company, Abilene, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to First National Bank of Abilene, Abilene, Texas. 11 **First Texas Bancorp., Inc., Georgetown, Texas, for prior approval to acquire 100 per cent of the voting shares of First National Bank of Round Rock, Round Rock, Texas, a proposed new bank. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 9-72 H.2 1972 No. 24 11 6 10 11 11 11 -7Received Continued Texas Commerce Bancshares, 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 San Angelo National Bank of San Angelo, San Angelo, Texas. Approved United Tennessee Bancshares Corporation, Memphis, Tennessee, for prior approval to acquire 80 per cent or more of the voting shares of First Trust and Savings Bank, Paris, Tennessee. Affiliated Bankshares of Colorado, Inc., Boulder, Colorado, for prior approval to acquire 80 per cent or more of the voting shares of University National Bank of Fort Collins, Fort Collins, Colorado. **Southwest Bancshares, Inc., Houston, Texas, for prior'approval to acquire 100 per cent of the voting shares of Bank of Woodlake, National Association, Houston, Texas, a proposed new bank. Reactivated On H.2 No. 7, the Board reported receipt of an application from' Texas Commerce Bancshares, Inc., Houston, Texas, for prior approval of the acquisition of the voting shares of Airline Bank, Houston, Texas. This application was placed in suspense to permit Applicant to submit additional information. Following receipt of the additional information, this application has been reactivated. On H.2 No. 7, the Board reported receipt of an application from Texas Commerce Bancshares, Inc., Houston, Texas, for prior approval of the acquisition of the voting shares of Regan State Bank of Houston, Houston, Texas. This application was placed in suspense to permit Applicant to submit additional information. Following receipt of the additional information, this application has been reactivated. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 8-72 H.2 1972 No. 24 2 6 To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **Princeton American Bancorp., Princeton, New Jersey, notification of intent to engage in a cle novo activity (making or acquiring, for its own account or for the account of others, loans and other extensions of credit as would be made by a commercial finance company. Such loans or other extensions of credit would generally be secured by accounts receivable, inventory, equipment or other assets which may be legally pledged) in Morristown, New Jersey, through a new subsidiary, Princeton American Credit Corp. **Palmer Bank Corporation, Sarasota, Florida, 6- 5-72 notification of intent to engage in de novo activities ((1) serving as the advisory company for a 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; (2) acting as insurance agent or broker in offices at which the holding company or its subsidiaries are otherwise engaged in business (or in an office adjacent thereto) with respect to the following types of insurance: (i) any insurance for the holding company and its subsidiaries; (ii) any insurance that (a) is directly related to an extension of credit by a bank or a bank-related firm of the kind described in this regulation, but more specifically, life, health, and accident homeowner's, mortgage guarantee insurance, and title insurance as these forms of insurance closely relate to real estate and the proper operation of a mortgage banking company; or (b) is directly related to the provision of other financial services by a bank or bank-related firm; or (c) is otherwise sold as a matter of convenience to the purchaser, so long as the premium income from **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 8-72 -9~ H. 2 1972 No. 24 Received Continued sales within (ii)(c) does not constitute a significant portion of the aggregate insurance premium income of the holding company from insurance sold pursuant, to subdivision (ii)) through its present subsidiary, Coastal Mortgage Company, with offices in Sarasota, Fort Myers, and Naples, Florida. 7 10 **American Bankshares Corporation, Milwaukee, Wisconsin, notification of intent to engage in a de novo activity (to furnish counsel and advise 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 The Investment Company Act of 1940, except as limited by The Glassteagall 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. **Affiliated Bankshares of Colorado, Inc., Boulder, 6-9-72 Colorado, notification of intent 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 Veterans 1 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., Loveland, Colorado. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6-.5-72 H.2 1972 No. 24 12 -10- Received Continued **BankAmerica Corporation, San Francisco, California, notification of intent 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) through a subsidiary to be tentatively known as DC Computer Leasing Corporation, with offices located in San Francisco and Gardena, California; New York, New York; Rosemont, Illinois; and Houston, Texas. 6- 5-72 12 **Marine Bancorporation, Seattle, Washington, notification of intent to engage in a de novo activity (making or acquiring, for its own account or for the account of others, loans or other extensions of credit) in Portland, Oregon, through its present subsidiary, Coast Mortgage Company, Seattle, Washington. 6- 5-72 12 **U. S. Bancorp, Portland, Oregon, notification of intent 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) in Phoenix, Arizona, through its present subsidiary, U.S. Datacorp, Portland, Oregon. 6- 5-72 2 6 Denied Marine Midland Banks, Inc,, Buffalo, New York, for prior approval to acquire all of the voting shares of Carter H. Golembe Associates, Inc., Washington, D. C. First Commerce Corporation, New Orleans, Louisiana, for prior approval to acquire 665 shares of the outstanding shares of W. R. Smolkin & Associates, Inc., New Orleans, Louisiana. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 24 12 12 1 3 -11- Reactivatecl **0n H.2 No. 10, 1972, the Board reported receipt of a notification from Beverly Hills Bancorp, Beverly Hills, California, to engage in a de novo activity (investment advisory services) through a subsidiary known as New West Equity Management Corporation, Beverly Hills, California. Notification was delayed pending further consideration of the application. Having received SEC withdrawal of complaint on the proposed investment advisory services, the notification has been reactivated. **0n H.2 No. 4, 1972, the Board reported receipt of a notification from Beverly Hills Bancorp, Beverly Hills, California, of intent to engage in a de novo activity (providing investment and financial counseling services to individuals) through a subsidiary known as Dimensional Planning Group, Beverly Hills, California. The Board requested delay in initiation of this activity pending its reexamination of the scope of Section 225.4 (a)(5) of Regulation Y. Recent amendments to this section now remove any objection. Permitted **Hartford National Corporation, Hartford, Connecticut, to engage in de novo activities (limited purpose trust company to conduct stock transfer and related services) through a subsidiary known as Hartford Trust Company of New York, New York, New York. **First Pennsylvania Corporation, Philadelphia, Pennsylvania, to engage in de novo activities (making, acquiring and servicing loans or other extensions of credit for personal, family or household purposes) through an indirect subsidiary, Investors Loan Corporation of Newark, Newark, Delaware. Investors Loan Corporation of Newark will be a wholly-owned subsidiary of First Pennsylvania Financial Services, Inc., a whollyowned subsidiary of First Pennsylvania Corporation. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 8-72 6- 8-72 6-10-72 6- 5-72 H.2 1972 No. 24 5 -12- Permitted Continued **The Citizens and Southern Corporation, Charleston, 6- 8-72 South Carolina, to engage in de novo activities ((1) making or acquiring for its own account, loans and other extensions of credit, such as would be made by a mortgage or finance company; (2) acting as agent in the sale of credit life insurance) in Columbia, South Carolina through its present subsidiary CN Mortgages Inc. (formerly CN Loans, Inc.) Charleston, South Carolina. 10 **Commercial Landmark Corporation, Muskogee, Oklahoma, 6- 8-72 to engage in de novo activities ((1) making or acquiring,for its own account or for the account of others, loans and other extensions of credit, such as would be made a finance company; (2) leasing personal property and equipment where at the inception of the 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 f s full investment in the property) through its subsidiary, Commercial Landmark Finance Company, at Muskogee, Oklahoma. 10 ^Commercial Landmark Corporation, Muskogee, Oklahoma, 6 - 8 - 7 2 to engage in a de novo activity (making loans to individuals and insurance agents for the purpose of financing the payment of insurance premiums) through a subsidiary known as Insurance Service Company, Muskogee, Oklahoma. 10 ^Commercial Landmark Corporation, Muskogee, Oklahoma, 6- 8-72 to engage in de novo activities ((1) making or acquiring real estate development loans for its own account or for the account of others; (2) servicing loans and other extensions of credit; (3) acting as correspondent for institutional investors arranging permanent financing for single and multi-family housing and commercial and industrial property with and without the retention of servicing rights and warehousing mortgage loans until such loans are sold to institutional investors) through its subsidiary, Landmark Development Company, Muskogee, Oklahoma. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H. 2 1972 No. 24 10 -13- Permitted Continued **Merchants-Bancorp Inc., Kansas City, Missouri, to continue to engage directly in an activity begun cie novo (leasing equipment 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) at Kansas City, Missouri. 6- 9-72 12 **Beverly Hills Bancorp, Beverly Hills, California, to engage in a d£ novo activity (providing investment and financial counseling services to individuals) through a subsidiary known as Dimensional Planning Group, Beverly Hills, California. 6- 8-72 12 **Beverly Hills Bancorp, Beverly Hills, California, to engage in a de novo activity (investment advisory services) through a subsidiary known as New West Equity Management Corporation, Beverly Hills, California. 6-8-72 12 **First Security Corporation, Salt Lake City, Utah, 6-5-72 to engage in de novo activities ((1) 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 finance or factoring company; (2) leasing personal property and equipment, or acting as agent,broker or adviser in leasing 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 First Security Leasing Company. Such activities will be conducted in Salt Lake City, Utah, and Boise, Idaho. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 24 12 -14- Permitted Continued **Washington Bancshares, Inc., Spokane, Washington, 6- 5-72 to engage in de novo activities ((1) 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 trusts; (2) servicing loans; and (3) such other activities as are incidental to the operation of a real estate mortgage company, including but not limited to, acting as 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 subsidiary known as Bancshares Mortgage Company, Kennewick, Washington. * 2 * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956 Received **Warner Communications Inc., New York, New York, 6- 6-72 notification of intent to acquire Holmes Protection Services Corporation, New York, New York, through National Kinney.Corporation, New York, New York. 2 **Warner Communications Inc., New York, New York, notification of intent to acquire Werner Krebs, Inc., New York, New York and two affiliated corporations, Century Painting Corporation, New York, New York and Doublekay Contracting Corporation, New York, New York, through National Kinney Corporation, New York, New York. 3 ^Beneficial Corporation, Wilmington, Delaware, 6- 5-72 notification of intent to incorporate and operate a cie novo activity (issuing life, accident and health, and casualty insurance, for all insurance written by subsidiaries of Beneficial Corporation in the British Commonwealth) through a life insurance subsidiary to be known as Beneficial International Insurance Company Limited, in Bermuda. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 6-72 e N H.2 1972 No. 24 6 7 -15- Permitted **The Charter Company, Jacksonville, Florida, to acquire all of the outstanding stock of Argonaut Petroleum Corporation, Denver, Colorado, through a wholly-owned subsidiary, Charter Oil Company, Jacksonville, Florida. **Kemperco, Inc., Long Grove, Illinois, to acquire 6-10-72 all of the outstanding stock of Sequoia Insurance Company, Menlo Park, California, which is licensed to write property and casualty insurance. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 4-72
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