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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.2, 1987, No. 24 Actions of the Board Applications and Reports Received During the Week Ending June 13, 1987 ACTIONS OF THE BOARD Statement by Vice Chairman Johnson before the Subcommittee on Financial Instititions Supervision, Regulation and Insurance of the House Committee on Banking, Finance and Urban Affairs concerning the Federal Reserve's supervisory efforts to ensure compliance with the Bank Secrecy Act and other laws to discourage the use of banks and the payments system generally for laundering money, June 9, 1987. Amendment to Regulation Y implementing amendments to the Change in Bank Control Act required by the Anti-Drug Abuse Act of 1986 (Docket R-0595). Boston Bank of New England, N.A., Boston, Massachusetts — proposed merger with Patriot Bank, N.A., — report to the Comptroller of the Currency on competitive factors. 1/ Boston Pawtucket Institution For Savings, Pawtucket, Rhode Island — proposed acquisition of assets and assumption of liabilities of Pawtucket Trust Company — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Boston BankEast Corporation, Manchester, New Hampshire — extension to August 23, 1987, to acquire Royal/Grimm & Davis, Inc., New York, New York. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 2 ACTIONS OF THE BOARD - Continued Philadelphia Pennsgrove National Bank and Trust Company, Pennsgrove, New Jersey — proposed purchase of assets and assumption of liabilities of the Woodstown Office of the First National Bank of Toms River, Toms River, New Jersey — report to the Comptroller of the Currency on competitive factors. 1/ Cleveland Banc One Corporation, Columbus, Ohio — extension to September 26, 1987, to acquire Northwest National Bank, Rensselear, Indiana. 1/ Richmond Century Bancshares, Inc., Washington, D.C. — extension to August 16, 1987, to acquire Century Natioanl Bank. 1/ Richmond First National Bankshares Corporation, Ronceverte, West Virginia — extension to September 30, 1987, to acquire The First National Bank in Ronceverte. 1/ Richmond Bank of Greenville, Greenville, West Virginia — investment in bank premises. 1/ Richmond Farmers and Merchants Bank of Cairo, Harrisville, West Virginia — proposed merger with FMC Bank Co., — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta Kisco Financial Corporation, Miami, Florida — extension to August 27, 1987, to acquire Kislak National Bank, North Miami, Florida. 1/ Atlanta First American National Bank, Knoxville, Tennessee — proposed merger with First American Bank, Greenback, Tennessee — report to the Comptroller of the Currency on competitive factors. 1/ Atlanta First American National Bank of Nashville, Nashville, Tennessee — proposed merger with First & Peoples National Bank of Gallatin, Gallatin, Tennessee — report to the Comptroller of the Currency on competitive factors. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 3 ACTIONS OF THE BOARD - Continued Atlanta First American Bank, McMinnville, Tennessee — proposed merger with First American Bank, Woodbury, Tennessee — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta Caribank, Dania, Florida — proposed merger with Caribank of Palm Beach County, Boca Raton, Florida — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago Chesterton State Bank, Chesterton, Indiana — extension to September 1, 1987, to establish a branch at 1209 Calumet Road, Valparaiso, Indiana. 1/ Chicago State Bank of Pearl City, Pearl City, Illinois — proposed merger with PC Bank — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicago Milledgeville Bancorp, Inc., Milledgeville, Illinois — extension to September 9, 1987, to acquire Milledgeville State Bank. 1/ Chicago Central-State Bancorp, Inc., Frankfort, Michigan — extension to September 20, 1987, to acquire State Savings Bank, and Central State Bank, Beulah, Michigan. 1/ St. Louis Farmers Bank and Trust Company, Marion, Kentucky — proposed merger with FBT Bank, Inc., — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ St. Louis Buffalo Bancshares, Inc., Kansas City, Missouri — extension to June 27, 1987, to acquire.0'Bannon Banking Co, Buffalo, Missouri. 1/ Kansas City Cherokee Bancorp, Inc., Cherokee, Oklahoma — extension to September 12, 1987, to acquire Alfalfa County Bancshares, Inc. 1/ Kansas City Heritage Bancorp Co., Cleveland, Oklahoma — extension to September 18, 1987, to acquire First National Bank. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 4 ACTIONS OF THE BOARD - Continued Dallas Bank of Bernice, Bernice Union Parish, Louisiana — proposed merger with The Bank of Choudrant, Choudrant Lincoln Parish, Louisiana — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Dallas RepublicBank Post Oak, N.A., Houston, Texas — proposed merger with InterFirst Bank Post Oak — report to the Federal Deposit Insurance Corporation on competitive factors. 1/ San Francisco Founders Bancorp, Inc., Scottsdale, Arizona — extension to October 13, 1987, to acquire Founders Bank of Arizona. 1/ * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Withdrawn New York Chemical Bank, New York, New York — to establish a branch office at 300 Jericho Quadrangle, Jericho, New York. (6/10/87) * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Approved New York Dutchess Bank & Trust Company, Poughkeepsie, New York — to establish a branch office in the Poughkeepsie Galeria, Old Post Road at Route 9, Poughkeepsie, New York. 1/ 6/11/87) Richmond Albemarle Bank and Trust Company, Charlottesville, Virginia — to establish a branch at 2208 Ivy Road, Charlottesville, Virginia. 1/ (6/12/87) Richmond Central Fidelity Bank, Richmond, Virginia — to establish a branch at 11 Canal Center Plaza, Suites 101 and 103, Alexandria, Virginia. 1/ (6/10/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 5 ACTIONS OF THE BOARD - Continued Richmond Central Virginia Bank, Powhatan, Virginia — to establish a branch in the Village Marketplace Shopping Center, 13100 Midlothian Turnpike, Midlothian, Virginia. 1/ (6/12/87) St. Louis Landmark Bank of Fairview Heights, Fairview Heights, Illinois — to establish a branch at Highway 159 and Drake Road, Fairview Heights, Illinois. 1/ (6/1/87) * * * * * To Become A Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved New York Norstar Bank of Long Island, Hempstead, New York. 1/ (6/8/87) Cleveland Iron and Glass Interim Bank, Pittsburgh, Pennsylvania. 1/ (6/8/87) Richmond Heritage Bank of Northern Virginia, McLean, Virginia. 1/ (6/12/87) Chicago Farmers State Bank, Poy Sippi, Wisconsin. (6/11/87) 1/ * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Approved Cleveland Iron and Glass Interim Bank, Pittsburgh, Pennsylvania — to merge with Iron and Glass Bank, Pittsburgh, Pennsylvania. 1/ (6/8/87) Cleveland The Provident Bank, Cincinnati, Ohio — to merge with The Hamilton County State Bank, Lockland, Ohio. 1/ (6/12/87) * * * * * 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 6 ACTIONS OF THE BOARD - Continued Applications and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c)(9), 4(c) (13) and 4(c) (14) of the Bank Holding Company Act of 1956, as amended Approved Philadelphia Chase Bank International, Newark, Delaware — grants consent to substitute a new Article THIRD, in the Articles of Association of Chase Bank International, Newark, Delaware, to reflect a change in the location of Edge's home office from New Castle County, Delaware, to Miami, Florida. (6/8/87) * * * * * To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Withdrawn Minneapolis First BancShares, Inc., of Cold Spring, Cold Spring, Minnesota— for approval to to acquire 100 percent of the voting shares of The First National Bank of Cold Spring, Cold Spring, Minnesota (6/11/87) Returned Dallas Lindale National Bancshares, Inc., Lindale, Texas — for approval to acquire 100 percent of the voting shares of Lindale National Bank, Lindale, Texas. (6/11/87) Dallas Midlothian Bank Shares Corporation, Midlothian, Texas — for approval to acquire 100 percent of the voting shares of Midlothian National Bank, Midlothian, Texas. (6/12/87) * * * * * Approved Boston 1/ DS Bancor, Inc., Derby, Connecticut — for approval to acquire 100 percent of the voting shares The Derby Savings Bank, Derby, Connecticut. 1/ (6/10/87) Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 7 ACTIONS OF THE BOARD - Continued Philadelphia Honat Bancorp, Inc., Honesdale, Pennsylvania — for approval to acquire 100 percent of the voting shares of The Honesdale National Bank, Honesdale, Pennsylvania. 1/ (6/9/87) Cleveland Iron and Glass Bancorp, Inc., Pittsburgh, Pennsylvania — for approval to acquire 100 percent of the voting shares of the Iron and Glass Bank, Pittsburgh, Pennsylvania. 1/ (6/8/87) Richmond Branch Corporation of South Carolina, Wilson, North Carolina — for approval to acquire 100 percent of the voting shares of Community Bank, Greenville, South Carolina. 1/ (6/12/87) Atlanta Citizens' Capital Corporation, Robertsdale, Alabama — for approval to acquire 80 percent of the voting shares of Citizens' Bank, Inc., Robertsdale, Alabama. 1/ (6/11/87) Atlanta Citizens Corporation, Columbia, Mississippi — for approval to acquire 100 percent of the voting shares of Citizens Bank, Columbia, Mississippi. 1/ (6/12/87) St. Louis Marrowbone Bancorp, Inc, Marrowbone, Kentucky — for approval to acquire 80 percent of the voting shares of Bank of Marrowbone, Marrowbone, Kentucky. 1/ (6/8/87) Dallas First Bancorp of Louisiana, Inc., West Monroe, Louisiana — for approval to acquire 100 percent of the voting shares of First National Bank of West Monroe, West Monroe, Louisiana. 1/ (6/10/87) * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Returned Philadelphia 1/ Citizens Investments, Inc., Vineland, New Jersey — for approval to acquire 100 percent of the voting shares of Sun National Bank, Medford, New Jersey. (3/30/87) Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 8 ACTIONS OF THE BOARD St. Louis Continued Country Bancorp, Inc., Mt. Olive, Illinois — for approval to acquire at least 93.7 percent of the voting shares of Montgomery County National Bank, Hillsboro, Illinois. (6/9/87) Approved Richmond Mercantile Bankshares Corporation, Baltimore, Maryland — for approval to acquire 100 percent of the voting shares of The Eastville Bank, Eastville, Virginia. (6/10/87) Richmond Branch Corporation, Wilson, North Carolina — for approval to acquire 100 percent of the voting shares of Community Bancorporation, Inc., Greenville, South Carolina and indirectly Community Bank, Greenville, South Carolina. 1/ (6/12/87) Richmond Independent Banks of Virginia, Inc., Norfolk, Virginia — for approval to acquire 100 percent of the voting shares of Heritage Bank of Northern Virginia, McLean, Virginia, a proposed new bank. 1/ (6/12/87) St. Louis Mark Twain Bancshares, Inc., St. Louis, Missouri — for approval to acquire at least 97 percent of the voting shares of Edwardsville National Bank and Trust Company, Edwardsville, Illinois. 1/ (6/12/87) Minneapolis First National Corporation, Grand Forks, North Dakota — for approval to acquire 100 percent of the voting shares of West Fargo State Bank, West Fargo, North Dakota. 1/ (6/9/87) * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Approved St. Louis 1/ Landmark Bancshares Corporation, Clayton, Missouri — for approval to merge with CCNB Bancshares Corporation, Ozark, Missouri and indirectly acquire Christain County National Bank, Ozark, Missouri. 1/ (6/11/87) Application processed on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 9 ACTIONS OF THE BOARD - Continued To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Returned Chicago Capital One Corp., Brown Deer, Wisconsin — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company; consumer finance company; commercial finance company) through its subsidiary, Capital One Finance Corp., Brown Deer, Wisconsin. 3/ (6/8/87) San Francisco Viejo Bancorp, Mission Viejo, California — to engage de novo (providing management consulting services to depository institutions) through its subsidiary, Viejo Audit Corporation, Mission Viejo, California. 3/ (6/22/87) Approved New York Westdeutsche Landesbank Girozentrale, Dusseldorf, Federal Republic of Germany — for approval to acquire 51 percent of the shares of Vertex Business Systems, Inc., New York, New York, and thereby to engage in data processing activities. 1/ (6/12/87) Philadelphia Fidelcor, Inc., Philadelphia, Pennsylvania — for approval to acquire Lazere Financial Corporation, New York, New York and thereby engage in making and servicing loans. 1/ (6/11/87) * * * * * Permitted New York National Westminster Bank pic, London, England and Natwest Holdings, Inc., New York, New York — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a commercial finance company) through County Natwest Capital Markets, Inc., New York, New York. 3/ (6/12/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 10 ACTIONS OF THE BOARD - Continued Richmond MNC Financial Inc., Baltimore, Maryland — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a commercial finance company) through a subsidiary to be known as MNC Capital Corporation, Baltimore, Maryland. 3/ (6/8/87) Atlanta Commerce National Corporation, Winter Park, Florida — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company) through its subsidiary, Commerce National Mortgage Company, Winter Park, Florida. 3/ (6/10/87) Chicago Beverly Bancorporation, Chicago, Illinois — to engage de novo (engaging in the activities of a trust company of a fiduciary, agency, or custodial nature) through its subsidiary, Beverly Trust Company, Chicago, Illinois. 3/ (6/10/87) Minneapolis Norwest Corporation, Minneapolis, Minnesota; Norwest Financial Services, Inc., and Norwest Financial, Inc., Des Moines, Iowa — to engage de novo (engaging in the activities of a trust company of a fiduciary, agency, or custodial nature). The activity will be conducted nationwide. 3/ (6/11/87) * * * * * Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Approved St. Louis First Citizens Bancshares, Inc., Dyersburg, Tennessee. 1/ (6/9/87) San Francisco Wilshire Center Bancorp, Los Angeles, California. 1/ (6/8/87) 1/ Application processed on behalf of the Board of Governors under delegated authority. 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1987, No. 24 11 APPLICATIONS RECEIVED To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received New York Chemical Bank, New York, New York — to establish a branch at 300 Jericho Quadrangle, Jericho, New York. 2/ New York Chemical Bank, New York, New York — to establish a branch at 47-40 21 Street, Long Island City, New York. 2/ New York Chemical Bank, New York, New establish a branch office at Manhattan Community College, Street, New York, New York. Philadelphia Meridian Bank, Reading, Pennsylvania — to establish a branch at the intersection of Routes 772 and 272, Brownstown, West Earl Township, Pennsylvania. 2/ Cleveland The Fifth Third Bank, Cincinnati, Ohio — establish a branch at 12100 Reed Hartman Highway, Cincinnati, Ohio. 2/ Cleveland Fifth Third Bank, Cincinnati, Ohio — establish branches at the following locations: York — to the Borough of 199 Chambers 2/ to to 4100 Hunt Road, Blue Ash, Ohio 5033 Delhi Road, Delhi, Ohio 7779 Tylersville Road, West Chester, Ohio Fields-Ertel Road, Cincinnati, Ohio Winston and Kemper Roads, Cincinnati, Ohio 675 Loveland-Maderia Road, Cincinnati, Ohio The Kenwood-Kroger Banking Center Facility, an extension of the Kenwood, Ohio, Banking Center, 7869 Montgomery Road, Kenwood, Ohio. 2/ Cleveland The Peoples Bank & Trust Company, Wan Wert, Ohio — to establish a CBCT branch at 1107 South Shannon Street, Van Wert, Ohio. 2/ * * * * * 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 24 12 APPLICATIONS RECEIVED - Continued To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Received Philadelphia Dominion Bank, Devon, Pennsylvania. 2/ Atlanta The Terrace Bank of Florida, Tampa, Florida. 2/ St. Louis Springs Valley Bank and Trust Company, French Lick, Indiana. 2/ * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Received Cleveland The Provident Bank, Cincinnati, Ohio — to merge with the Hamilton County State Bank, Lockland, Ohio. 2/ Chicago The Blissfield State Bank, Blissfield, Michigan — to merge with Blissfield Interim Bank, Blissfield, Michigan. 2/ Dallas Allied Nederland Bank, Port Arthur, Texas — to merge Allied Merchants Bank, Port Arthur, Texas. 2/ Dallas RepublicBank Post Oak, N.A., Houston, Texas — to merge InterFirst Bank Post Oak, Houston, Texas. 2/ * * * * * 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 24 13 APPLICATIONS RECEIVED - Continued Applications and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14) of the Bank Holding Company Act of 1956, as amended Received New York Morgan International Finance Corporation, New York, New York — prior notice of its intent to make an additional investment in a Japanese banking subsidiary, Morgan Trust Bank Limited, Tokyo, Japan. Chicago International Bank of Detroit, Detroit, Michigan — requests approval to amend its Articles of Association in order to decrease its capital stock. * * * * * To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Boston Andover Bancorp, Inc. Andover, Massachusetts — for approval to acquire 100 percent of the voting shares of Andover Savings Bank, Andover, Massachusetts. 2/ Boston Intrex Financial Services, Inc., Boston, Masschusetts — for approval to acquire the Lawrence Savings Bank, Lawrence, Massachusetts. 2/ Boston The Waltham Corporation, Waltham, Massachusetts — for approval to acquire 100 percent of the voting shares of Waltham Savings Bank, Waltham, Massachusetts. 2/ New York The Taiyo Kobe Bank, Ltd., Kobe, Japan — for approval to acquire 100 percent of the voting shares of Taiyo Kobe Bank and Trust Company, New York, New York, a proposed new bank. 2/ Chicago Rock River Bancorporation, Inc., Oregon, Illinois — for approval to acquire 100 percent of the voting shares of United Bank of Ogle County, N.A., Oregon, Illinois. 2/ 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987 , No. 24 14 APPLICATIONS RECEIVED - Continued Chicago Wonder — for voting Wonder Bancorp, Inc., Wonder Lake, Illinois approval to acquire 100 percent of the shares of Wonder Lake State Bank, Lake, Illinois. 2/ St. Louis Southern Bancshares, Ltd., Carbondale, Illinois — for approval to acquire 100 percent of the voting shares of First National Bank and Trust Company, Carbondale, Illinois. 2/ St. Louis Weakley County Bancshares, Inc., Dresden, Tennessee — for approval to acquire 100 percent of the voting shares of Weakley County Bank, Dresden, Tennessee. 2/ Minneapolis North Star Holding Company, Inc., Jamestown, North Dakota — for approval to acquire 79.9 percent of the voting shares of Stutsman County State Bank, Jamestown, North Dakota. 2/ Minneapolis Northern Plains Investment, Inc., Jamestown, North Dakota — for approval to acquire 40.05 percent of the voting shares of North Star Holding Company, Inc., Jamestown, North Dakota and indirectly Stutsman County State Bank, Jamestown, North Dakota. 2/ Dallas Brazos Bancshares, Inc., Joshua, Texas — approval to acquire 81.32 percent of the voting shares of The First National Bank in Joshua, Joshua, Texas. 2/ for * * * * * To Expand a Bank Holdig Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received Philadelphia 2/ Commonwealth Bancshares Corporation, Williamsport, Pennsylvania — for approval to acquire 100 percent of the voting shres of Liberty State Bank, Mount Carmel, Pennsylvania. 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank ,may be contacted as to the length of the comment period. H.2, 1987, No. 24 15 APPLICATIONS RECEIVED - Continued Chicago Central Wisconsin Bankshares, Inc., Wausau, Wisconsin — for approval to acquire 90 percent of the voting shares of Peoples Bancshares of Antigo, Inc., Antigo, Wisconsin, and indirectly The Peoples Bank, Antigo, Wisconsin. 2/ Chicago First Union Bancorporation, Inc., Streator, Illinois — for approval to acquire 100 percent of the voting shares of The First National Bank of Triumph, Triumph, Illinois. 2/ Chicago Peotone Bancorp., Inc., Peotone, Illinois — for approval to acquire 28 percent of the voting shares of Rock River Bancorporation, Inc., Oregon, Illinois and indirectly United Bank of Ogle County, N.A., Oregon, Illinois. 2/ St. Louis Banterra Corp., Eldorado, Illinois — for approval to acquire 98.8 percent of the voting shares of Egypt Bancorp., Inc., Marion, Illinois and indirectly Bank of Egypt, Marion, Illinois. 2/ * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Received Kansas City Valley Bancorp, Inc., Brighton, Colorado — for approval to merge with Lyons Bancorp, Inc., Brighton, Colorado and indirectly acquire Valley Bank of Lyons, Lyons, Colorado. 2/* * * * * * 2/ Application subject to Community Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1987, No. 24 16 APPLICATIONS RECEIVED - Continued To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received Boston Amity Bancorp, Inc., New Haven, Connecticut — to engage de novo (making, acquiring and/or servicing loans for itself or for others of the type made by a consumer finance company) through Amity Loans, Inc. The activities will be conducted in the State of North Carolina. (6/9/87) New York Bayerische Vereinsbank, Munich, Federal Republic of Germany — for approval to waive or modify a commitment made in connection with BV's application, to continue engaging through AE Capital Management, Inc., New York, New York, in certain nonbanking activities. BV committed inter alia in that application that within six months from the date of approval it would either cause BVCM to resign as investment adviser of any investment company in which BV has an indirect interest, or arrange for the divestiture of that interest. San Francisco Area Financial Corporation, Redwood City, California — for approval to acquire Bay Counties Builders Escrow, Inc., San Carlos, California. (6/9/87) San Francisco Central Banking System, Inc., San Francisco, California — to expand the activities of its subsidiary, CBS Leasing, Inc., Walnut Creek, California, to include (making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company; consumer finance company; credit card company; commercial finance company; factor). (6/9/87) San Francsico First Independent Investment Group, Inc., Vancouver, Washington — to engage de novo (selling credit life, disability, or involuntary unemployment insurance). (6/11/87)
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