The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
#.2, 1978 No. 24)
Actions of the Board; Applications and Reports
Received During the Week Ending June 17, 1978
ACTIONS OF THE BOARD
Regulation T, extension of time for proposed rulemaking,
on an amendment to Regulation T that would permit
brokers and dealers to extend and maintain credit on
unlisted nonconvertible corporate bonds; comment period
is extended to July 7, 1978 (Docket No. R-0080)
Survey, bank stock loans, insider loans and overdrafts;
letter and report sent to the two Congressional Banking
Committees.
Community Banks, Inc., Middle ton, Wisconsin, extension of
time to September 28, 1978, within which to become a
bank holding company through the acquisition of 80 per
cent or more of the voting shares of the Bank of
Middleton, Middleton, Wisconsin, and The Bank of Shorewood Hills, Madison, Wisconsin. 1/
First Affiliated Bancorporation, Inc., Stevens Point,
Wisconsin, extension of time to September 15, 1978,
within which to become a holding company through
acquisition of 80 per cent or more of the voting shares
of The First National Bank of Stevens Point, Stevens Point,
Wisconsin, and Bank of Park Ridge, Park Ridge, Wisconsin.
1/
First Colonial Corporation, Chicago, Illinois,
extension of time to September 5, 1978, within which
to become a bank holding company through the acquisition
of 80 per cent or more of the voting shares of Colonial
Bank and Trust Company of Chicago, Chicago, Illinois. 1/
National Detroit Corporation, Detroit, Michigan, extension
of time to September 19, 1978, within which to engage in
finance activities at 841 J. Clyde Morris Boulevard,
Newport News, Virginia, through its subsidiary, Instaloan
Financial Services, Inc. 1/
1/
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1978 No. 24
- 2 ACTIONS OF THE BOARB-Continued
SWB Corporation, Oklahoma City, Oklahoma, extension of time
to September 20, 1978, within which to consummate the
acquisition of Southwestern Bank & Trust Company,
Oklahoma City, Oklahoma. If
County Bank of Santa Cruz, Santa Cruz, California, to make
an additional investment in bank premises. V
Fayette County Bank, St. Elmo, Illinois, to make an additional
investment in bank premises. V
Commercial Trust & Savings Bank, Storm Lake, Iowa, extension
of time to July 19, 1978, within which to establish a
branch at 1237 Lake Avenue, Storm Lake, Iowa. 1/
Connecticut Bank and Trust Company, Hartford, Connecticut,
extension of time to December 31, 1978, in which to
establish a branch on Route 7, Brookfield, Connecticut. 1/
Marine Midland International Corporation, New York, New York,
requesting permission for an additional one-year extension
of time within which to complete its investment, directly
or indirectly, in Marmid Finance Limited, Hong Kong, B.C.C.
1/
Shawmut Bank of Boston, N.A., Boston, Massachusetts, extension of time to June 14, 1979, within which to purchase
and hold, directly or indirectly, additional shares of
Atlantic International Bank Limited (AIB), London,
England. 1/
Free State Bank and Trust Company, Potomac, Maryland, proposed merger with Suburban Trust Company, Hyattsville,
Maryland; report to the Federal Deposit Insurance
Corporation on competitive factors. 1/
National Interim Bank of Augusta, Augusta, Georgia, proposed merger with The First National Bank & Trust Company
of Augusta, Augusta, Georgia; report to the Comptroller of
the Currency on competitive factors. If
National Interim Bank of Columbus, Columbus Georgia, proposed merger with The National Bank and Trust Company of
Columbus, Georgia, Columbus, Georgia; report to the
Comptroller of the Currency on competitive factors. 1/
JL/ Application processed on behalf of the Board of Governors under delegated
authority.
11.2, 1978 No. 24
- 3 ACTIONS OF THE BOARD-Continued
National Interim Bank of Macon, Macon, Georgia, proposed merger
with The First National Bank & Trust Company in Macon,
Macon, Georgia; report to the Comptroller of the Currency
on competitive factors. 1/
National Interim Bank of Rome, Rome, Georgia, proposed
merger with The First National Bank of Rome, Rome, Georgia;
report to the Comptroller of the Currency on competitive
factors. 1/
National Interim Bank of Savannah, Savannah, Georgia, proposed merger with Trust Company of Georgia Bank of
Savannah, N.A., Savannah, Georgia; report to the Comptroller of the Currency on competitive factors. 1/
1J
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1978 No. 24
4 ACTIONS OF THE BOARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
Lorain County Savings & Trust Company, Elyria,
Ohio. Branch to be established at 34210 Center
Ridge Road, North Ridgeville, Lorain. 2]
United California Bank, Los Angeles, California.
Branch to be established in the vicinity of the
intersection of Valley View Street and Cerulean
Avenue, City of Garden Grove, Orange County. 2j
United California Bank, Los Angeles, California.
Branch to be established in the vicinity of the
intersection of Sylvan and McHenry Avenues, City
of Modesto, Stanislaus County.
Withdrawal
Security Bank and Trust Company, Southgate, Michigan.
Branch to be established in the vicinity of Six
Mile and Winchester Roads, Northville Township,
Wayne County.
* * * * *
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Approved
Crocker National Bank, San Francisco, California:
grants permission to establish a branch in Hong
Kong, B.C.C.
27
Applications processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
H.2, 1978 No. 24
5
ACTIONS OF THE BOARD-Continucd
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Approved
Harrison Bancorpoation, Cythiana, Kentucky, for
approval to acquire 100 per cent of the voting
shares (less directors1 qualifying shares) of
the successor by merger to The Harrison Deposit
Bank and Trust Company, Cythiana, Kentucky.
Decatur County Bankshares, Inc., Oberlin, Kansas,
for approval to acquire 87.2 per cent (less
directorsT qualifying shares) of the voting
shares of Decatur County National Bank of Oberlin,
Oberlin, Kansas. 2/
F.M. Financial Corporation, Inc., Claflin, Kansas,
for approval to acquire 88.66 per cent of the
voting shares of The Farmers and Merchants State
Bank, Chaflin, Kansas. 2/
Great Southwest Ban Corp, Inc., Dodge City, Kansas,
for approval to acquire 81.67 per cent of the
voting shares of Bank of the Southwest, Dodge City,
Kansas.
Brownwood Bancshares, Inc., Brownwood, Texas, for
approval to acquire at least 80 per cent of the
voting shares of Citizens National Bank at Brownwood,
Brownwood, Texas. 2/
Denied
Mid-Nebraska Bancshares, Inc., Ord, Nebraska, for
approval to acquire 100 per cent of the voting
shares of Nebraska State Bank, Ord, Nebraska.
2J
Applications processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
H.2, 1978 No. 24
6
ACTIONS OF THE BOARD-Continued
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Approved
Republic of Texas Corporation, Dallas, Texas, for
approval to acquire all of the voting shares (less
directors1 qualifying shares) of the successor by
merger to Bexar County National Bank of San Antonio,
San Antonio, Texas.
Delayed
Otto Bremer Company, St. Paul, Minnesota, for approval
to acquire 68.2 per cent of the voting shares of The
First National Bank of Crookston, Crook.ston, Minnesota.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Approved
Commerce Bancshares, Inc., Kansas City, Missouri, for
approval to merge with Manchester Financial Corporation,
St. Louis, Missouri.
Mid-America Bancshares, Inc., Kansas City, Missouri,
for approval to merge with Metro Insurance Agency,
Inc., Kansas City, Missouri.
*
* * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Approved
Great Southwest Ban Corp, Inc., Dodge City, Kansas,
for approval to acquire 100 per cent of the voting
shares of Southwest Agency, Inc., Dodge City, Kansas,
a company engaged in leasing personal property and
to continue to engage in the sale of life and accident
and health insurance directly related to extensions
of credit and lease transactions of its proposed
subsidiaries.
H.2, 1978 No. 24
7
ACTIONS OF THE BOARD-Continued
Mid-America Bancshares, Inc., Kansas City, Missouri,
for approval to acquire the insurance agency assets
of Metro Insurance Agency, Inc., Kansas City, Kansas
and, thereafter, to act as agent or broker in the
sale of credit life and credit accident and health
insurance directly related to extensions of credit
by Applicant!s subsidiary banks.
Delayed
Old National Bancorporation, Spokane, Washington,
notification of intent to engage in de novo activities
(to act as agent or broker for the sale of mortgage
redemption life and disability insurance and property
and casualty insurance to be issued in connection with
the making of loans, acting as agent or broker for the
sale of mortgage redemption life and disability insurance and property and casualty insurance to be
issued in connection with loans made, acquired or serviced by Bancshares Mortgage Company) at 6128
Fairview Avenue, Boise, Idaho; 302 W. Gowe, Kent,
Washington; West 510 Riverside, Spokane, Washington;
1140 16th Street West, Billings, Montana and 9875 Bridgeport Way, Tacoma, Washington, through its subsidiaries,
Bancshares Mortgage Company, Cascade Escrow Company,
and Union Securities Co. (6/14/78) 3/
Permitted
Barnett Banks of Florida, Inc., Jacksonville, Florida,
notification of intent to engage in die novo activities
(performing or carrying on any one or more of the functions
or activities that may be performed or carried on by a
trust company, including activities of a fiduciary, agency
or custodial nature in the manner authorized by Federal
and State law; provided, however, that loans and investments
will be made and deposits accepted only in conformity with
regulations of the Board of Governors of the Federal Reserve
System) at 231 South Ridgewood Drive, Sebring, Florida,
through a subsidiary, Barnett Banks Trust Company, N. A.
(6/16/78) 3/
Santa Ana Bancorp, Inc., St. Ann, Missouri, notification
of intent to engage directly in de novo activities (acting as agent or broker in the sale of various types of
insurance for the holding company1s banking subsidiaries)
at 10449 St. Charles Rock Road, St. Ann, Missouri (6/16/78)
3/
3/
4(c)(8) and 4(c)(12) notifications processed bv Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
-
8
-
ACTIONS OF THE BOARD-Contlnued
Midland Capital Co., Oklahoma City, Oklahoma, notification
of intent to engage in de_ novo activities (mortgage banking,
including origination and servicing of all types of resisential and commercial mortgage loans) at 7050 South Hwy.
85/87, Fountain, Colorado, through a subsidiary, Midland
Mortgage Co. (6/16/78) 3/
University Bancorp, Inc., Kansas City, Missouri, notification
of intent to continue to engage in activities (acting as
insurance agent in offices at which such holding company
or its subsidiaries, The Merchants Bank and University
Bank, are otherwise engaged in business, with respect to
any insurance that is directly related to an extension
of credit by any of such subsidiaries, such insurance will
consist of credit life insurance and credit accident and
health insurance) at 115 West 63rd Street, Kansas City,
Missouri, and 850 Main Street, Kansas City, Missouri
(6/16/78) 3/
Old National Bancorporation, Spokane, Washington,
notification of intent to engage in de_ novo activities (making or acquiring for its own account or
others, loans or other extensions of credit, secured
by real estate mortgages or deeds of trust, and the
servicing of such loans, and such other activities as
are incidental to the operations of a mortgage
company, serving as an escrow or closing agent in
connection with the closing of real estate loans
financed by credit extending subsidiaries of Old
National Bancorporation) at 6128 Fairview Avenue
Boise, Idaho; 302 W. Crowe, Kent, Washington; West
510 Riverside, Spokane, Washington; 1140 16th Street
West, Billings, Montana; and 9875 Bridgeport Way,
Tacoma, Washington, through its subsidiaries,
Bancshares Mortgage Company, and Cascade Escrow
Company (6/15/78) V
BankAmerica Corporation, San Francisco, California,
notification of intent to engage in de novo activities
(making and acquiring loans such as would be made or
acquired by a finance company, including purchasing
installment sales finance contracts; inventory and
accounts receivable financing; floor plan financing;
lease financing; equipment financing; insurance
premium financing; making loans to commercial
businesses; making loans to non-affiliated financing
and leasing companies secured by pledges of accounts
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
I
H.2, 1978 No. 24
9 ACTIONS OF THE BOARD-Continued
receivable of such companies; and making other loans
secured by real or personal property; it further
proposes to engage in the servicing of loans; participations in loans and other extensions of credit for
itself and others; leasing real and personal property;
and offering life, accident and health, and property insurance directly related to credit extensions and
other financial services offered) at 1105 Hamilton
Street, Allentown, Pennsylvania, through its indirect
subsidiary, FinanceAmerica Capital Corporation
(6/15/78) 3/
* A * * *
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
Evans Insurance Agency, Inc., Billings, Oklahoma
("Agency"), prior certification pursuant to section 1101(b) of the Internal Revenue Code that the
proposed divestiture of all of the 905 shares of
The First State Bank in Billings, Billings,
Oklahoma ("Bank"), presently held by Agency through
the distribution of such shares to the sole shareholder of Agency, is necessary or appropriate to
effectuate the policies of the Bank Holding Company
Act. (Legal Division Docket No. TCR 76-133)*
Lindoe, Inc., Pueblo, Colorado ("Lindoe"), prior
certification pursuant to section 1101(c) of the
Internal Revenue Code that Lindoefs proposed
distribution to its shareholders of all of its
right, title, and interest in the Colonial Motel,
Estes Park, Colorado, is necessary or appropriate
to effectuate section 4 of the Bank Holding Company
Act. (Legal Division Docket No. TCR 76-160)*
3J
V
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
Processed on behalf of the Board of Governors under delegated
authority.
H.2, 1978 No. 24
-
10
-
ACTIONS OF THE BOARD-Continued
304 Corporation, Omaha, Nebraska ("304"), final certification pursuant to section 6158(c)(2) of the
Internal Revenue Code that it has (before the expiration of the period prohibited property is permitted under the Bank Holding Company Act (12 U.S.C.
§ 1841 ert seq.) ("BHC Act") to be held by a bank
holding company) disposed of all property the disposition of which is necessary or appropriate to
effectuate section 4 of the Bank Holding Company
Act. (Legal Division Docket No. TCR 76-140)*
*/
Processed on behalf of the Board of Governors under delegated
authority.
11
H.2, 1978 No. 24
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Girard Bank, Bala Cynwyd (Montgomery County), Pennsylvania. Branch to be established at Haddington Mall
Plaza, 57th and Vine Streets, Philadelphia.
Security Bank and Trust Company, Southgate, Michigan.
Branch to be establish 15045 Allen Road, Southgate,
Wayne County.
Kent City State Bank, Kent City, Michigan. Branch to
be establish in the vicinity of 4150-17 Mile Road,
Solon Township, Kent County.
*
* * * *
Thirty Day Notice of Intention to Establish an
Additional Branch in a Foreign Country
Manufacturers Hanover Trust Company, New York, New
York: to establish an additional branch in England
to be located at Stratford Centre, Building B,
London E15.
*
* * * *
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Citibank, N.A., New York, New York: to establish
branches in Tegucigalpa and San Pedro Sula,
Honduras.
The Citizens and Southern National Bank of South
Carolina, Columbia, South Carolina: to establish
a branch at George Town, Grand Cayman, Cayman
Islands.
North Carolina National Bank, Charlotte, North Carolina:
to establish a branch in Hong Kong.
H.2, 1978 No. 24
12 -
APPLICATIONS RECEIVEP-Continued
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Bellwood Bancorporation, Inc., Bellwood, Illinois,
for approval to acquire 80 per cent or more of
the voting shares of Bank of Bellwood, Bellwood,
Illinois. 2/
PDB Investment Corporation, Chicago, Illinois, for
approval to acquire 97.67 per cent or more of the
common voting shares of Plaza Drive-In Bank, Norridge,
Illinois.
Kerkhoven Bancshares, Inc., Kerkhoven, Minnesota, for
approval to acquire 90 per cent of the voting shares
of State Bank of Kerkhoven, Kerkhoven, Minnesota. 2/
Garnett Bancshares, Inc., Garnett, Kansas, for approval
to acquire 80 per cent or more of the voting shares of
Kansas State Bank, Garnett, Kansas. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Exchange Bancorporation, Inc., Tampa, Florida, for
approval to acquire 100 per cent of the voting shares
of The Vanderbilt Bank, (Collier County, P.O. Box)
Naples, Florida.
*
* * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Industrial National Corporation, Providence, Rhode
Island, notification of intent to engage in de novo
activities (consumer finance and insurance agency
for the sale of credit life, credit accident and
health, and credit property insurance sold in connection with extensions of credit) at 5610 Hanley
2/
Applications processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
i
H.2, 1978 No. 24
-13APPLICATIONS RECEIVED-Continued
Road, Suite 108, Tampa, Florida, thorugh its indirect
subsidiaries, Southern Discount Company (a Florida
Corporation) and S.D.A. Corp. (a Florida Corporation)
which are wholly-owned by its indirect subsidiary,
Southern Discount Company (a Rhode Island Corporation),
with its principal office in Atlanta, Georgia (6/12/78)
3/
Citicorp, New York, New York., notification of intent to
engage in de novo activities (making consumer installment personal loans, making loans for the account of others such as one-to-four family unit mortgage loans, making loans to individuals and businesses
secured by real property, the proceeds of which may
be for purposes other than personal, family or household usage, sale of credit related life and accident
and health, or decreasing or level (in case of single
payment loans) term life insurance to cover the outstanding balances of credit transactions (singly, or
jointly with co-signers in the case of life coverage) in
the event of death, or to make contractual monthly payments of the credit transactions in the event of
obligor1s disability by licensed agents or brokers to
the extent permissible under applicable State laws and
regulations; the sale of credit%*related property and
casualty insurance protecting real property subject to
a security agreement with Nationwide Mortgage Corporation and to include liability coverage where such is the
general practice, by licensed agents or brokers to the
extent permissible under applicable State insurance laws
and regulations; credit related decreasing term life insurance and accident and health insuance may be reinsured by Family Guardian Life Insurance Company (formerly known as Gateway Life Insurance Company) an affiliate
of Nationwide Mortgage Corporation; further, in regard
to the sale of credit related insurance, the subsidiary
will not act as a general insurance agency) at 2700
State Street, Suite 16-A, Las Vegas, Nevada, and 4600
Kietzke Lane, Building 1, Suite 206, Reno, Nevada,
through its subsidiary, Nationwide Mortgage Corporation
(6/15/78) 3/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H. 2, 1978 H o »
- 14
APPLICATIONS RECEIVED-Continued
Citicorp, New York, New York, notification of intent to
establish seven offices and to engage in de novo
activities (making or acquiring, for its own account
or for the account of others, commercial loans; leasing personal or real property or acting as agent, broker or advisor in leasing such property, and servicing such leases, where the leases serve as the functional equivalent of an extension of credit to the lessee
of the property, where at the inception of the initial
lease the effect of the transaction will be to compensate the lessor for not less than its full investment
in the property over the term of the lease, and where
the transaction is subject to all of the qualifications
specified in 12 CFR 225.4(a)(6)(a) and (b) ) at 470 Totten
Pond Road, Waltham, Massachusetts; 1301 Fifth Avenue,
Seattle, Washington; 9420 Annapolis Road, Lanham, Maryland;
230 Northland Blvd., Cincinnati, Ohio; 1300 East 9th
Street, Cleveland, Ohio; 400 South Tryon Street,
Charlotte, North Carolina; and 80 South 8th Street,
Minneapolis, Minnesota, through its subsidiary, Citicorp
Industrial Credit, Inc. (6/15/78) 37
Horizon Bancorp, Morristown, New Jersey, notification of
intent to expand de novo activities (making or acquiring for its own account or for the account of others,
loans and other extensions of credit principally secured by second mortgages on one-to-four family residences
pursuant to local regulations and, in connection therewith,
selling credit life, health and accident insurance) at
1600 S*E. 17th Street, Fort Lauderdale, Florida, through
its subsidiary, Horizon Creditcorp (6/14/78) 3/
United Bank Corporation of New York, Albany, New York,
notification of intent to engage in de novo activities
(providing information and data processing services, including storage, programming, related consulting services, payroll services, electronic funds transfer
services, accounts receivable or payable, billing
services, making excess computer time available, selling
systems and programs developed for affiliates and selling a by-product of a program for data processing, supplying computer output micofilm, lease accounting services
and other further data processing service, product or
activity; for all the Internal operations and needs of
United Bank Corporation of New York and its subsidiaries
and all other persons, to the full extent permitted by
law) at 75 State Street, Albany, New York, through its
subsidiary, ITBNY Data Services, Inc. (6/16/78) JV
V
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
-15APPLICATIONS RECEIVED-Continued
Mellon National Corporation Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(making or acquiring for its own account secured and unsecured loans and other extensions of credit such
as would be made by a finance company which activities include making direct consumer installment
loans and purchasing consummer installment sales
contracts; acting as insurance agent with respect
to credit life and credit accident and health insurance which insurance will be provided only in
conjunction with extenions of credit by Local Loan Co.,
or its wholly-owned subsidiaries, and which will
be available solely at the option of the borrower
and the borrower is advised of this option in advance; and acting as insurance agent with respect
to credit property insurance on personal property
subject to security agreements with Local Loan Co.,
or its wholly-owned subsidiaries and purchase of this
insurance through Local Loan Co., is solely at the
option of the borrower and the borrower is advised
of this option in advance, Local Loan Co. does
not act as a general insurance agent) at 54th
Street and Pacific Avenue, TacomA, Washington,
through its wholly-owned subsidiary, Local Loan
Co., Oak Brook, Illinois (6/12/78) 3/
Virginia National Bankshares, Inc., Norfolk, Virginia,
notification of intent to engage in de novo activities (making, acquiring, and servicing, for its own
account or for the account of others, loans secured
principally by second mortgages on real property, and
acting as agent In the sale of credit life insurance and
accident and health insurance in connection with such
loans; the making of consumer finance loans and acting as agent in the sale of credit life insurance,
accident and health insurance, and automobile
physical damage Insurance in connection with such
loans) at U.S. Highway 158, Bypass at Haymen Boulevard,
Kill Devil Hills, \orth Carolina, through its subsidiary, At laneIc Lqulty Corporation (6/15/78) 3/
Virginia National Bankshares, Inc., Norfolk, Virginia,
notification of intent to engage in de novo activities (financing automobile purchases through installment loans (retail and direct) wholesale Inventory
(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
-
16
-
APPLICATIONS RECEIVED-Continued
financing of automobile dealers, the making of consumer loans and acting as agent in the sale of credit
life Insurance and accident and health insurance, and
automobile physical damage insurance to protect collateral in connection with its extensions of credit)
at U.S. Highway 158, Bypass at Hayman Boulevard, Kill
Devil Hills, North Carolina, through its subsidiary,
Atlantic Credit Corporation (6/15/78) 3/
First Amtenn Corporation, Nashville, Tennessee, notification
of intent to engage in de novo activities (making or
acquiring for its own account or 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 installments sales contracts; and secured commercial financing,
such as dealer floor-plan financing and lease financing;
and 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 West Tampa, Inc.) at
7035 West Hillsborough Avenue, Tampa, Florida, through
a subsidiary, Atlantic Discount Company, Inc. (6/12/78)
3/
First Bancshares of Florida, Inc., Boca Raton, Florida,
notification of intent to engage in de novo activities
(leasing hospital and medical equipment, office equipment, construction equipment, and other personal property) at 150 Palmetto Park Road, Boca Raton, Florida,
through its subsidiary, Beacon Leasing Corporation
(6/12/78) 3/
First BancGroup-Alabama, Inc., Mobile, Alabama, notification of intent to engage in de novo activities
(acting as insurance agent or broker in offices at
which the holding company or its subsidiaries are otherwise engaged in business with respect to the following
types of insurance; any insurance for the holding
company's banking subsidiaries; any insurance that, is
directly related to an extension of credit by a bank or
a bank or a bank-related firm of the kind described in
Federal Reserve Regulation Y; the types of insurance
to Include credit life insurance, accident and health
insurance, and property damage insurance; or is directly related to the provision of other financial services
3/
4(c)(8) and 4(c)12) notifications processed be Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
- 17
APPLICATIONS RECEIVED-Continued
by a bank or such bank-related firm) at 31 North Royal
Street, Mobile; 118 Jefferson Street, Huntsville; 224
North Foster Street, Dothan; 2015 First Avenue North,
Birmingham and Corner of Orange Avenue and Barbour
Street, Eufaula, all in Alabama, through a subsidiary,
FBG Insurance Agency (6/14/78) 3/
Continental Illinois Corporation, Chicago, Illinois,
notification of intent to engage in d<2 novo activities (leasing on a non-operating basis real or personal
property acquired specifically for a leasing transaction,
and acting as agent, broker or adviser in the leasing
thereof, where the lease serves as the functional
equivalent of an extension of credit to the lessee of the
property and where at the inception of the initial lease
the expectation is that the effect of the transaction (and,
with respect to governmental entities only, 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 plus the
estimated total cost of financing the property over
the term of the lease, and where the lease otherwise
conforms with Section 225.4(a)(6)(a) and (b) of the
Boardfs Regulation Y and making or acquiring for its
own account or for the account of others, secured and
unsecured loans and other extensions of credit to or
for business, governmental and other customers (excluding direct consumer lending) entities or projects,
purchasing or acquiring receivables or chattel paper
(including, without limitation, consumer receivables and
paper), issuing letters of credit and accepting drafts,
and servicing loans and other extension of credit for
others) at Commerce Court North, Toronto, Ontario,
Canada, through its subsidary, Continental Illinois
Leasing Corporation (6/15/78) 3/
Mercantile Bancorporation Inc., St. Louis, Missouri,
notification of intent to engage in de novo activities (acting as an insurance agency or broker in
connection with selling to consumer finance borrowers
property damage and liability insurance for collateral
securing loans made to borrowers) at 1497 Vandalia
Street, Collinsville, Illinois, through a subsidiary,
Franklin Finance Company (6/14/78) 3/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
-18APPLICAT10NS RECEIVED-Continued
Mercantile Bancorporation Inc., St. Louis, Missouri,
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, such as are made by a finance company;
and insurance agency or brokerage in connection with
selling to consumer finance borrowers credit life
insurance, credit accident and health insurance, and
property damage insurance for collateral securing loans
made to borrowers) at Elkins Plaza, U.S. Routes 250-219
S., Elkins, West Virginia, through a subsidiary, Franklin Thrift and Loan Company (6/12/78) 3/
BankAmerica Corporation, San Francisco, California, notification of intent to engage in d_e novo activities (making or
acquiring for its own account loans and other extensions
of credit such as would be made or acquired by a finance
company and servicing loans and other extensions of
credit; such activities will include but not be limited
to making consumer installment loans, purchasing installment sales finance contracts, making loans and other
extensions of credit to small businesses, and making loans
secured by real and personal property; and the offering
of credit related life, credit related accident and
disability insurance, and credit related property insurance in connection with extensions of credit made or acquired by FinanceAmerica Corporation) at 2000 Park Center,
Fort Collins, Colorado, through its indirect subsidiary,
FinanceAmerica Corporation (a Colorado Corporation)
(6/7/78) 3/
BankAmerica Corporation, San Francisco, California,
notification of intent to engage in cte novo activities (making or acquiring for its own account loans
and other extensions of credit such as would be made or
acquired by a finance company and servicing loans and
other extensions of credit; such activities will include but not be limited to making consumer installment
loans, purchasing installment sales finance contracts,
making loans and other extensions of credit to small
businesses, and making loans secured by real and personal property; and the offering of credit life, credit
related accident and disability insurance, and credit
related property insurance in connection with extensions
of credit made or acquired by FinanceAmerica Corporation)
at 1901 Laurens Road, Greenville, South Carolina,
through its indirect subsidiary, FinaneeAmerica Corporation (a South Carolina Corporation) (6/7/78) 3/
j 7 ™ 4 ( c ) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 24
19 REPORTS RECEIVED
Current Report filed Pursuant to Section 13 of
the Securities Exchange Act
Bank of Mid-Jersey, Bordentown, New Jersey.
Union Bank, Los Angeles, California.
The Union Savings & Trust Company, Warren, Ohio.
United State Trust Company of New York, New York, New York.
* * * * *
PETITIONS FOR RULEMAKING
None.
@FedFRASER