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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Applications and Reports Received or Acted on H.2 1974 No. 24 During the Week Ending June 15, 1974 District 12 Date Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Received Union Bank, Los Angeles, California * * * -k * 2 To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Received Sayville Bank and Trust Company, Sayville, New York 5 Approved PBT Bank, Richmond, Virginia 5 Bank of Frederick County, Stephens County, Virginia * -/V * * * ^Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. 6-10-74 H. 2 1974 No. 24 - 2 To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received Manufacturers Hanover Trust Company, New York, New York. Branch to be established at 200 West 79th Street, Borough of Manhattan, City of New York. 2 5 United Virginia Bank/Rockbridge, Lexington, Virginia. Branch to be established on U.S. Route 11, one mile North of the Lexington City Limites, Rockbridge County. 5 The Northern Virginia Bank, Springfield, Virginia. Branches to be established at the following locations: 7 To be established at 356 Eldon Street (KronfieId Square) Herdon. B. To be established at 81-00 Backlick Road, Newington. Chemical Bank and Trust Company, Midland, Michigan. Branch to be established in the Northeast corner of Road Junction of Weiss Road and Midland Road, Saginaw Township. Withdrawal United California Bank, Los Angeles, California. Branch to be established in the vicinity of Scott Boulevard and El Camino Real in the city and county of Santa Clara. 12 4 A. Approved 'The Firestone Bank, Akron, Ohio. Branch to be established at 2435 North Cleveland-Massilion Road, Akron, Summit County. v 4 "The Central Trust Company, Cincinnati, Ohio. Branch to be established at 2435 Harrison Avenue, Cincinnati, Hamilton County. 4 -The Sylvania Savings Bank Company, Sylvania, Ohio. Branch to be established at the Southwest corner of HoiIoway Road and Airport Highway, Springfield Township, Lucas County. -Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. 11.2 1974 No. 24 5 12 7 W Approved Cont 1 d -Mountain Trust Bank, Roanoke, Virginia. Branch to be established at 3702 Brandon Avenue S.W,, Roanoke County. *Union Bank, Los Angeles, California. Branch to be relocated from the Long Beach Downtown Office (221 Long Beach Boulevard) to the Southeast corner of the intersection of Golden Shore and Ocean Boulevard, Long Beach. Thirty Day Notice of Intention to Establish an Additional Branch in a Foreign Country Received Continental Illinois National Bank and Trust Company of Chicago, Chicago, Illinois: an additional branch in Greece to be located in Salonika. Vr ic ic * 2 5 W - 3- * To Organize, or Invest in, a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant to Section 25 or 25(a) of the Federal Reserve Act Received Chemical Bank, New York, New York: to organize a corporation in Houston, Texas to be known as "Chemical Bank International-Houston." To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Received PBT Bank, Richmond, Virginia for prior approval to merge with The Peoples Bank and Trust Company of Henrico, Richmond, Virginia. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Colonial-American Bankshares Corporation, Roanoke, Virginia, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to The Colonial-American National Bank of Roanoke, Roanoke, Virginia. Northbrook Bancorp, Inc., Northbrook, Illinois, for approval to acquire 99.2 per cent of the voting shares of Northbrook Trust & Savings Bank, Northbrook, Illinois. Bronson Agency, Inc., Bronson, Kansas, for approval to acquire 80 per cent or more of the voting shares of The Bank of Bronson, Bronson, Kansas. Druinmond Bancshares, Inc., Drummond, Oklahoma, for approval to acquire 80 per cent or more of the voting shares of Bank of Drummond, Drummond, Oklahoma. Kartell Financial Services, Inc., Kartell, Nebraska, for approval to acquire 99.2 per cent of the voting shares of The Martell State Bank, Martell, Nebraska. The Mitsui Bank, Ltd., Tokyo, Japan, for approval to acquire 100 per cent of the voting shares of The Mitsui Bank of California, Los Angeles, California, a proposed new bank. * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received Bankers Trust New York Corporation, New York, New York, for approval to acquire 100 per cent of the voting shares of Mohawk Valley State Bank, Utica, New York. Equitable Bancorporation, Baltimore, Maryland, for approval to acquire 100 per cent of the voting shares of the successor by transfer of assets and assumption of liabilities of Truckers and Savings Bank, Salisbury, Maryland. Received Continued NB Corporation, Charlottesville, Virginia, for approval to acquire 100 per cent of the voting shares of the successor by merger to The Peoples Bank and Trust Company of Henrico, Henrico County, Virginia. Barnett Banks of Florida, Inc., Jacksonville, Florida, for approval to acquire 90 per cent or more of the voting shares of First Marine Bank of Fort Lauderdale, Fort Lauderdale, Florida, a proposed new bank. Southern Bancorporation, Birmingham, Alabama, for approval to acquire 80 per cent or more of the voting shares of Citizens Bank & Trust Company, Selma, Alabama. First Union, Incorporated, St. Louis, Missouri, for approval to acquire 90 per cent or more of the voting shares of Florissant Bank, Florissant, Missouri. Approved Greater Jersey Bancorp., Clifton, New Jersey, for approval to acquire 100 per cent of the voting shares (less directors ! qualifying shares) of the successor by merger to Plaza National Bank, Secaucus, New Jersey. Bancshares of New Jersey, Moorestown, New Jersey, for approval to acquire 100 per cent (less directors 1 qualifying shares) of the voting shares of the successor by merger to The Prospect Park National Bank, Wayne, New Jersey. Florida Bancorp, Inc., Pompano Beach, Florida, for approval to acquire 99.40 per cent of the voting shares of Florida Coast Bank of Coral Springs, National Association, Coral Springs, Florida, a proposed new bank. Tennessee Valley Bancorp, Inc., Nashville, Tennessee, for approval to acquire 90 per cent or more of the voting shares of the successor by merger to The Union Bank, McEwen, Tennessee. Bankmanagers Corp., and Midland Financial Corporation, both of Milwaukee, Wisconsin, for approval to acquire 20,380 additional voting shares of Midland National Bank, Milwaukee, Wisconsin. H.2 1974 No. 24 - 6 - Approved Continued Texas Commerce Bancshares, Inc., Houston, Texas, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to First National Bank of Hurst, Hurst, Texas. 11 11 Texas Commerce Bancshares, Inc., Houston, Texas, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Union Bank of Fort Worth, Fort Worth, Texas. 11 Texas Commerce Bancshares, Inc., Houston, Texas, for approval to acquire 100 per cent of the voting shares (less directorsT qualifying shares) of the successor by merger to Guaranty National Bank and Trust of Corpus Christi, Corpus Christi, Texas. * * * * * 10 To Retain Bank Shares Acquired in a Fiduciary Capacity Pursuant to Section 3 of the Bank Holding Company Act of 1956 Approved **NBC Co., Lincoln, Nebraska, for approval to retain stock 6-14-74 of City National Bank of Hastings, Hastings, Nebraska; LBE Co., Lincoln, Nebraska; and Crete State Bank, Crete, Nebraska. * * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **Bankers Trust New York Corporation, New York, New York, 6- 5-74 notification of intent to engage in tie novo activities (making or acquiring, for its own account or for the account of others, unsecured and secured loans (including real estate loans) and other extensions of credit (including issuing letters of credit and accepting drafts); servicing loans and other extensions of credit; and leasing real and personal property and **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H. 2 1974 No. 24 - 7 Received Continued equipment, or acting as agent, broker, or adviser in leasing such property; the lease will serve as the functional equivalent of an extension of credit or such leases will be on a full payout basis) in Houston, Texas, through a subsidiary to be known as BT Southwest, Inc. 4 **National City Corporation, Cleveland, Ohio, notification 6-11-74 of intent to engage in a de novo activity (acting as agent, broker, or adviser in leasing real property, and carrying on activities incidental to the foregoing) at the present office of its wholly-owned subsidiary, National City Adviser Corporation, Cleveland, Ohio. 4 *^National City Corporation, Cleveland, Ohio, notification of intent to engage in a de_ novo activity (leasing real property and acting as agent, broker, or adviser in leasing real property, and carrying on activities incidental to the foregoing) at the present office of its wholly-owned subsidiary, National City Realty Corporation, Cleveland, Ohio. 5 **United Virginia Bankshares Incorporated, Richmond, Virginia, notification of intent to engage in de novo activities (originating loans as principal; originating loans as agent; servicing loans for nonaffiliated individuals, partnerships, and corporations; servicing loans for affiliates of the holding company; such other activities as may be incidental to the business of a mortgage corporation; and the sale, as agent, of credit life, credit disability, mortgage redemption and mortgage cancellation insurance in connection with such loans) in Charlottesville, Virginia, through its subsidiary, United Virginia Mortgage Corporation. 6 **Third National Corporation, Nashville, Tennessee, noti6-10-74 fication of intent to engage in de novo activities (conducting the business of a mortgage company, including the making or acquiring, for its own account or for the account of others, loans and other extensions of credit for any person; and acting as agent or broker in the sale of mortgage redemption insurance, credit life, accident and health insurance) in Myrtle Beach, South Carolina, through a subsidiary, John W. Murphree Company. **4 (c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6-11-74 6-12-74 H.2 1974 No. 24 6 7 10 Received Continued **United First Florida Banks, Inc., Miami Beach, Florida, 6-10-74 notification of intent to engage in de novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit, including the issuance of letters of credit and the acceptance of drafts such as would be made by a factoring company; servicing loans and other extensions of credit for any person) in Miami Beach, Florida, through a subsidiary, Flagship Factors Corp. **The Indiana National Corporation, Indianapolis, Indiana, 6-12-74 notification of intent to engage in cle novo activities (making or acquiring, for its own account or for the account of others, direct loans in the form of consumer loans which would be made by companies subject to regulation under the Uniform Consumer Credit Code and Wisconsin Consumer Act; business purpose loans and other extensions of credit in the form of conditional sales contracts and retail installment sales contracts; and loans to mobile home dealers for the purpose of financing inventory) in Madison, Wisconsin, through its subsidiary, Citadel Finance, Inc., Indianapolis, Indiana. Bronson Agency, Inc., Bronson, Kansas, for approval to retain the insurance agency business presently engaged in by Applicant. 12 **BankAmerica Corporation, San Francisco, California, no6- 6-74 tification of intent to engage in de novo activities, through GAC Finance Inc., (making consumer loans secured in whole or in part by a mortgage upon any interest in real property which property is subject to the lien of one or more prior mortgages and the purchase of instalment home Improvement contracts; acting as agent or broker for the sale of credit related life, accident and disability insurance and credit related property and casualty insurance in connection with extensions of credit by Peoples Mortgage Corporation) at 5638 Professional Circle, Indianapolis, Indiana, through its indirect subsidiary, Peoples Mortgage Corporation. 12 **First Bancorporation, Reno, Nevada, notification of intent to engage in a djenovo activity (leasing personal property, or acting as agent, broker, or adviser in **4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 5-74 H.2 1974 No. 24 9 Received Continued leasing such property) at One North Virginia, Reno, Nevada, through a subsidiary to be known as The Nevada National Leasing Company Inc. 12 **Washington Bancshares, Inc., Spokane, Washington, notification of intent to engage in a de_ novo activity (acting as agent or broker for the sale of Vendors 1 Single Interest and Lenders' Indemnity insurance to be sold in connection with credit extended by banks or related firms) at West 422 Riverside Avenue, Spokane, Washington, through its subsidiary, Union Securities Co. 5-30-74 12 **Zions Utah Bancorporation, Salt Lake City, Utah, notification of intent to engage in de novo activities (operating as an industrial bank under the laws of the State of Colorado which includes the lending of money to consumers and others, the sale, on an optional basis, of credit life, health, and accident insurance relating to such loans; and the acceptance of savings in the form of passbook accounts and certificate accounts) at 730 Royal Gorge Boulevard, Canon City, Colorado, through a subsidiary to be known as Canon City First Industrial Bank. 6- 4-74 6 7 1 Correction: **Alabama Bancorporation, Birmingham, Alabama, notification of intent to engage in a de. novo activity (leasing real property, or acting as agent, broker, or adviser in leasing such property provided that the lease is to serve as the functional equivalent of an extension of credit to the lessee of the property) in Birmingham, Alabama, through a subsidiary, Alabanc Financial Corporation. Approved Zions Utah Bancorporation, Salt Lake City, Utah, for approval to acquire all of the voting shares of Mauss Finance Company, Twin Falls, Idaho. Delayed **Hartford National Corporation, Hartford, Connecticut, notification of intent to engage in a de novo activity (leasing real property on a full pay-out basis or acting as agent, broker, or adviser in leasing such **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-14-74 6-10-74 H.2 1974 No. 24 - 10Delayed Continued property) at 830 East State Street, Westport, Connecticut, through its subsidiaries, KNC Realty Advisors, Inc., 1111C Mortgage and Realty Investors, and HNC Realty Company. 2 1 **First Commercial Banks Inc., Albany, New York, notification of intent to engage in a de_ novo activity (leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessors1 full investment in the property) in Waltham, Massachusetts, through a subsidiary of FCB Leasing Ltd., known as FCB Air Lease Ltd. Permitted **T.N.B. Financial Corp., Springfield, Massachusetts, notification of intent to engage in de novo activities (full payout leasing of personal property on a nonoperating basis; acting as agent, broker, or adviser in leasing such property; and making, acquiring, or servicing for its own account or for the account of others, loans and other extensions of credit on personal property such as would be made by a finance company) at 1391 Main Street, Worcester, Massachusetts, through a subsidiary, T.N.B. Leasing Corp. 6-11-74 6-15-74 1 ^Worcester Bancorp, Inc., Worcester, Massachusetts, notification of intent to engage in de_ novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; and more particularly providing to customers credit and financial services through the approval, purchasing and subsequent collection and remittance of accounts receivable and other contract rights) at Worchester Plaza, 446 Main Street, Worcester, Massachusetts, through a subsidiary, W o m a t Banfactors, Inc. 6-10-74 2 **The Chase Manhattan Corporation, New York, New York, notification of intent to engage in a de novo activity (acting as an equipment leasing and financing corporation and as agent, broker, or adviser in connection 6-13-74 **4 (c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1974 No. 24 ~ 11Permitted Continued with the leasing or financing of personal property, all such leases to be on a full payout basis) in New York, New York, through its subsidiary to be known as Chase Manhattan Leasing Corporation. 2 **United Jersey Banks, Princeton, New Jersey, notification 6-12-74 of intent to engage in de novo activities (making or acquiring, for its own account or for the account of others, mortgage loans principally secured by prior liens on real estate; servicing these loans; offering as agent, credit life and credit accident and health insurance in connection with such loans during the period of credit extension; and such other activities as may be incidental to conducting business as a licensee under the Secondary Mortgage Loan Act of 1970 of the State of New Jersey) in Princeton, Hackensack, and Westmont, New Jersey, through its subsidiary, UJB Homeowners Credit Corp. 3 ^Philadelphia National Corporation, Philadelphia, Penn6-14-74 sylvania, notification of intent to engage in a de novo activity (selling joint credit life insurance in connection with such subsidiary's consumer finance company business, and reinsuring such joint insurance) at the existing offices of its indirect subsidiary Signal Finance of Virginia, Inc., 10895 Main Street, Fairfax, Virginia, and 8432 Centreville Road, Manassas, Virginia, through Patrick Henry Life Insurance Company, an indirect subsidiary of Philadelphia National Corporation. 5 **First & Merchants Corporation, Richmond, Virginia, no6-14-74 tification of intent to engage in de_ novo activities (leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property; term financing using conditional sales contracts and security agreements; and making or acquiring, loans or participations in loans (or other extensions of credit), including construction loans and other mortgage loans on residential, multi-family, and commercial real estate) in Birmingham, Alabama; Denver, Colorado; Clearwater, Florida; Ashville and Charlotte, North Carolina; Jacksonville, Florida; Columbus, Ohio; Greenville, South Carolina; Newport News, Norfolk, and Richmond, Virginia; and Charleston, West Virginia; through its subsidiary, Equitable Leasing Corporation. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1974 No. 24 6 - 12 Permitted Continued **First Amtenn Corporation, Nashville, Tennessee, noti6-11-74 fication of intent to engage in de_ novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit, such as would be made by a finance company, including secured and unsecured loans to individuals; discounting of installment sales contracts; and secured commercial financing such as dealer floor-plan financing and lease financing; acting as agent or broker in selling the following types of insurance to borrowing customers: credit life insurance, accident and health insurance and property damage insurance on collateral supporting loans made by Atlantic Consumer Services of Tennessee, Inc.) in Knoxville, Tennessee, through a subsidiary, Atlantic Consumer Services of Tennessee, Inc. 7 **American Fletcher Corporation, Indianapolis, Indiana, notification of intent to engage in de novo activities (making, acquiring, or servicing loans or other extensions of credit for personal, family, or household purposes; and acting as agent with respect to credit life and disability insurance on borrowing customers and physical damage insurance on property taken as collateral in connection with such extensions of credit) in Clarksville, Indiana, through its subsidiary, Local Finance Corporation, Marion, Indiana. 7 **First Illinois Corporation, Evanston, Illinois, notifi6- 9-74 cation of intent to engage in de novo activities (leasing real and personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the effect of the transaction will yield a return that will compensate the lessor for not less than the lessor f s full investment in the property-plus the estimated total cost of financing the property over the term of the lease-from rentals, estimated tax benefits, the estimated residual value of the property at the expiration of the lease, and, in the case of personal property only, an additional amount covered by an unconditional guarantee; and making or acquiring, for its own account or for the account of others, loans and other extensions of credit such as conditional sales and loans to lessor secured by lease contracts) in Evanston, Illinois, through a subsidiary, First Illinois Leasing Corporation. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 6- 9-74 H. 2 1974 No. 24 8 -13Permitted Continued **Mercantile Eancorporation, Inc., St. Louis, Missouri, notification of intent to engage in jie novo activities (making, acquiring, or servicing loans or other extensions of credit for personal, family, or household purposes, such as are made by a financing company; and acting as insurance agent or broker in connection with selling to consumer finance borrowers credit life insurance, credit accident and health insurance, and property damage insurance for collateral) at 10274 Page Boulevard, Overland, Missouri, through a subsidiary, Franklin Finance Company. 6-15-74 12 **BankAmerica Corporation, San Francisco, California, no6- 9-74 tification of intent to engage in de novo activities (making consumer loans secured in whole or in part by a mortgage upon any interest in real property, which property is subject to the lien of one or more prior mortgages, and the purchase of instalment home improvement contracts; and acting as agent or broker for the sale of credit related life/accident and disability insurance, and credit related property and casualty insurance in connection with extensions of credit) through an indirect subsidiary GAC Industrial Finance Corporation, a subsidiary of GAC Finance Inc. at Suite 106 303 Semoran Boulevard, Altamonte Springs, Florida. 12 **BankAmerica Corporation, San Francisco, California, no6- 9-74 tification of intent to relocate (through GAC Finance Inc.) the Portsmouth, Virginia office of its indirect subsidiary, GAC Finance Corporation, from 8 Churchland Shopping Center to 4020 G. Tower Mall Shopping Center, Victory Boulevard and to relocate the Detroit, Michigan, office of its indirect subsidiary, GAC Finance Inc. of Michigan from 14010 Telegraph Road to 28404 Five Mile Road, Livonia, Michigan, both offices engaged in making of consumer instalment loans, purchasing instalment sales finance contracts, and making loans to small businesses; and acting as agent or broker for the sale of credit related life, accident and disability insurance and credit related property and casualty insurance in connection with extensions of credit by the indirect subsidiaries. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1974 No. 24 12 3 10 - 14 Permitted Continued **BankAmerica Corporation, San Francisco, California, notification of intent to relocate the Charlotte, North Carolina office of its indirect subsidiary GAC Trans World Acceptance Corporation, a subsidiary of GAC Finance Inc. which engages in purchasing instalment sales finance contracts on vehicles, mobile homes, pleasure equipment, and home improvements; and acting as agent or broker for the sale of credit related life, accident and disability insurance, and credit related property and casualty insurance in connection with extensions of credit by GAC TransWorld Acceptance Corporation from 1225 Harding Place to 3623-25 East Independence Boulevard. 6- 9-74 Withdrawn **Provident National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in a de novo activity (leasing personal property and equipment on a full pay-out basis) in Memphis, Tennessee; and Houston, Texas, through its indirect subsidiary, Provco Leasing Corporation. **Liberty National Corporation, Oklahoma City, Oklahoma, notification of intent to engage in a de_ novo activity (serving as the advisory company for a mortgage or real estate investment trust) in Oklahoma City, Oklahoma, through a subsidiary of Liberty Financial Corporation to be known as Liberty Advisors, Inc. 10-16-73 6-13-74 * * * * * 7 To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956 Permitted **Sterling Precision Corporation, West Palm Beach, Florida, 6- 9-74 notification of intent to acquire the net assets of A. & I. Supply Company, Urbana, Ohio, whose principal line of business is the distribution of automotive replacement parts. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. # H.2 1974 No. 24 9 -15For Exemption Pursuant to Section 4(d) of the Bank Holding Company Act of 1956 Received Gamble-Skogmo, Inc., Minneapolis, Minnesota.
@FedFRASER