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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ( H . 2 , 1981 No. 26) A c t i o n s of t h e Board; A p p l i c a t i o n s and Reports Received During the Week Ending June 27, 1981 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Statement by Chairman Paul A. Volcker b e f o r e the Subcommittee on Domestic Monetary P o l i c y , House Banking Committee, to g i v e t h e Board's views c o n c e r n i n g the r o l e of money market funds in the n a t i o n ' s f i n a n c i a l structure. Statement by Vice Chairman F r e d e r i c k H. S c h u l t z b e f o r e the Subcommittee on C o n s e r v a t i o n , Credit and Rural Development, House Committee on A g r i c u l t u r e , t o d i s c u s s Federal Reserve p o l i c y and the i m p l i c a t i o n s for the agricultural sector. Proposal t o amend R e g u l a t i o n Y to i n c l u d e the i s s u a n c e of t r a v e l e r s checks in the l i s t of nonbanking a c t i v i t i e s p e r m i s s i b l e for bank holding companies; the Board i n v i t e d comment by August 31, 1981. Chicago Antioch Bancshares, I n c . , A n t i o c h , I l l i n o i s , e x t e n s i o n of time to September 2 2 , 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 percent of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger to The F i r s t N a t i o n a l Bank of A n t i o c h , A n t i o c h , I l l i n o i s . V Kansas City F i r s t C i t y Holding C o r p o r a t i o n , Oklahoma C i t y , Oklahoma, e x t e n s i o n of time to J u l y 27, 1981, w i t h i n which to consummate the a c q u i s i t i o n of F i r s t C i t y Bank, N . A . , Oklahoma C i t y , Oklahoma. _1/ New York F i r s t J e r s e y N a t i o n a l Corporation, J e r s e y C i t y , New J e r s e y , e x t e n s i o n of time to August 2, 1981, w i t h i n which t o a c q u i r e the s u c c e s s o r by merger to Perth Amboy N a t i o n a l Bank, Perth Amboy, New J e r s e y . 1/ Atlanta F l a g s h i p Banks, I n c . , Miami, F l o r i d a , e x t e n s i o n of time to September 28, 1981, w i t h i n which to acquire F l a g s h i p N a t i o n a l Bank of S a r a s o t a County, S a r a s o t a , F l o r i d a , a proposed new bank. 1/ 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. # H.2, 1981 No. 26 - 2 ACTIONS OF THE BOARD-Continued Atlanta Guardian Banks Financial Corporation, Seminole, F l o r i d a , extension of time to August 15, 1981, within which to become a bank holding company through the a c q u i s i t i o n of Guardian Bank, Seminole, F l o r i d a . I f Kansas City Mid-Nebraska Bancshares, I n c . , Ord, Nebraska, e x t e n s i o n of time t o July 25, 1981, within which to consummate the a c q u i s i t i o n of Nebraska State Bank, Ord, Nebraska. _1/ Kansas City Mountain Banks, L t d . , Denver, Colorado, extension of time to October 21, 1981, within which to consummate the a c q u i s i t i o n of L o u i s v i l l e Mountain Banks, N.A., L o u i s v i l l e , Colorado, a proposed new bank. J / Atlanta South F i r s t National Corporation, Ocean Sprngs, M i s s i s s i p p i , e x t e n s i o n of time to July 28, 1981, within which to acquire shares of F i r s t National Bank of the South, Ocean Springs, M i s s i s s i p p i . J7 S t . Louis Bank of Cairo and Moberly, Moberly, Missouri, a d d i t i o n a l investment in bank premises. If Philadelphia Orrstown Bank, Orrstown, Pennsylvania, an additional i n v e s t ment in bank premises. J L / At l a nt a St. Bernard Bank & Trust Company, Arabi, Louisiana, an investment in bank premises. J_/ Dallas Bank of North Texas, North Richland H i l l s , Texas, proposed merger with New Bank of North Texas, North Richland H i l l s , Texas; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . V Richmond Branch Banking and Trust Company, Wilson, North Carolina, proposed merger with Independence National Bank, Gastonia, North Carolina; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . J L / Atlanta C i t i z e n s Bank, Folkston, Georgia, proposed merger with C i t i z e n s Interim Bank, Folks ton, Georgia; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/ Dallas C o l l i n County National proposed merger with Texas; report to the competitive f a c t o r s . J7 Bank of McKinney, McKinney, Texas, C o l l i n County Bank, N.A., McKinney, Comptroller of the Currency on 1/ A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. i H.2, 1981 No. 26 ACTIONS OF THE BOARD-Continued Dallas F i r s t Bank and Trust, Tomball, Texas, proposed merger with Tomball'Bank, Tomball, Texas; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . \J Richmond F i r s t C i t i z e n s Bank and Trust Company of South Carolina, Columbia, South Carolina, proposal to acquire the a s s e t s and assume the l i a b i l i t i e s of the Florence Branch of F i r s t National Bank of South Carolina, Columbia, South Carolina; report to the Federal Deposit Insurance Corporat i o n on competitive f a c t o r s . JJ S t . Louis F i r s t S t a t e Bank of Union, Union, Missouri, proposal t o merge w i t h F i r s t National Bank of Franklin County, Union, Missouri; report to the Federal Deposit Insurance Corporat i o n on competitive f a c t o r s . JL/ New York Heritage Bank-North, Monroe Township, New J e r s e y , proposal to purchase the a s s e t s and assume the l i a b i l i t i e s of S t a t e Bank of Raritan V a l l e y , Raritan, New J e r s e y ; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/ Dal las Meadowbrook National Bank, Fort Worth, Texas, proposal to merge with Meadowbrook S t a t e Bank, Fort Worth, Texas; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . \J Chicago Northwest Bank of Rockford, Rockford, I l l i n o i s , for prior approval to merge with Rockton Centre Bank, Rockford, I l l i n o i s , under the charter of Rockton Centre Bank, Rockford, I l l i n o i s and t i t l e of Northwest Bank of Rockf o r d , Rockford, I l l i n o i s ; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . \ j Boston Penobscot Savings Bank, Bangor, Maine, proposal to merge with W a t e r v i l l e Savings Bank, W a t e r v i l l e , Maine; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/ New York Peoples Westchester Savings Bank, Tarrytown, New York, proposal to merge with P e e k s k i l l Savings Bank, P e e k s k i l l , New York and Greenburgh Savings Bank, Dobbs Ferry, New York; report to the Federal Deposit Insurance Corporation on competitive f a c t o r s . 1/ \j A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. # H.2, 1981 No. 26 - 4 ACTIONS OF THE BOARD-Continued Atlanta Southeast Bank of Broward, Fort Lauderdale, F l o r i d a , proposed merger with Bank of Coral Springs, Coral Springs, F l o r i d a ; report to the Federal Deposit Insurance Corporat i o n on c o m p e t i t i v e f a c t o r s , _1/ Chicago Wolverine S t a t e Bank, Sandusky, Michigan, f o r prior approval t o merge with WSB S t a t e Bank, Sandusky, Michigan, under the charter of Wolverine State Bank, Sandusky, Michigan, .tad t i t l e of Wolverine S t a t e Bank, Sandusky, Michigan; report to the Federal Deposit Insurance Corporation on c o m p e t i t i v e f a c t o r s . _L/ 1/ A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. • H.2, • 1981 No. 26 - 5 ACTIONS OF THE BOARD-Continued To E s t a b l i s h a Branch Pursuant to S e c t i o n 9 of the S e c u r i t i e s Exchange Act Cleveland Approved The Lorain County S a v i n g s & Trust C o . , E l y r i a , Ohio. To e s t a b l i s h a branch at 442 Main S t r e e t , s o u t h e a s t corner of Hyanis and S t a t e Route #5 7, G r a f t o n , Lorain County, Ohio. 1/ * * * * * To Merge Pursuant to S e c t i o n 1 8 ( c ) of the Federal Deposit Insurance Act Richmond Approved United V i r g i n i a Bank, Richmond, V i r g i n i a , t o merge with The F i r s t and Merchants National Bank of Radford, Radford, V i r g i n i a . 1/ * * * * * A p p l i c a t i o n s and N o t i f i c a t i o n s for I n t e r n a t i o n a l I n v e s t ments and Other A c t i o n s Pursuant to S e c t i o n s 25 and 2 5 ( a ) of t h e Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of the Bank Holding Company Act of 1956, as amended New York Approved Entered i n t o an agreement with Banco de C r e d i t o Nacional S . A . , Sao P a u l o , B r a z i l t h a t BCN would l i m i t the d e p o s i t t a k i n g a c t i v i t i e s of a l i m i t e d branch to be l o c a t e d in San F r a n c i s c o , C a l i f o r n i a ( o u t s i d e of i t s d e s i g n a t e d home S t a t e , New York). 1/ Chicago C o n t i n e n t a l I n t e r n a t i o n a l Finance Corporation, Chicago, Illinois: g r a n t s consent t o s e p a r a t e l i m i t a t i o n s for loans to the Kingdom of Belgium and f o r investment s e c u r i t i e s of the Kingdom of Belgium, under S e c t i o n 2 1 1 . 6 ( b ) of the Board's R e g u l a t i o n K (12 C.F.R. 2 1 1 1 . 6 ( b ) with r e s p e c t to C o n t i n e n t a l Bank S . A . , B r u s s e l s , Belgium. Chicago D e t r o i t Bank & Trust I n t e r n a t i o n a l , D e t r o i t , Michigan, t o form and i n v e s t i n a j o i n t venture c o r p o r a t i o n to be d o m i c i l e d i n Mexico C i t y , Mexico and t o be known as Sociedad F i n a n c i e r o s , S.A. de C.V. 1/ 17 A p p l i c a t i o n processed on behalf of the Board of Governors under d e l e g a t e d authori t y . I H.2, 1981 No. 26 - 6 - ACTIONS OF THE BOARD-Continued To E s t a b l i s h a U.S. Branch of an Edge Act Corporation Pursuant t o S e c t i o n 2 5 ( a ) of the Federal Reserve Act New York Approved F i r s t I n t e r s t a t e I n t e r n a t i o n a l of C a l i f o r n i a , New York, New York ( f o r m e r l y United C a l i f o r n i a Bank I n t e r n a t i o n a l , New York, New York): grants consent to e s t a b l i s h and operate a branch in New York, New York and a l s o approved the amendment of A r t i c l e Third of Edge's A r t i c l e s of A s s o c i a t i o n to change the l o c a t i o n of Edge's head o f f i c e to Los A n g e l e s , California. * * * * * To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956 Kansas City Cleveland Withdrawn Rosedale Bancshares, I n c . , Kansas C i t y , Kansas, for approval to a c q u i r e at l e a s t 80 percent of the v o t i n g shares of Rosedale S t a t e Bank and Trust Co., Kansas C i t y , Kansas. Approved Marine Bancorp, I n c . , E r i e , P e n n s y l v a n i a , for approval t o a c q u i r e 100 percent of the v o t i n g shares of Marine Bank (ME ADVIL LE), E r i e , P e n n s y l v a n i a . JL/ Atlanta Cen-La Bancshares, I n c . , M a r k s v i l l e , L o u i s i a n a , f o r approval to acquire at l e a s t 80 percent of the v o t i n g s h a r e s of Central L o u i s i a n a Bank & Trust Company, M a r k s v i l l e , Louisiana. I f Atlanta F l o r a F i n a n c i a l Corporation, F l o r a , M i s s i s s i p p i , f o r approval to acquire 8 3 . 9 percent of the v o t i n g s h a r e s of Bank of F l o r a , F l o r a , M i s s i s s i p p i . JL/ Atlanta Quitman Bancshares, I n c . , Quitman, Georgia, for approval to a c q u i r e 100 percent of the v o t i n g s h a r e s of The Bank of Quitman, Quitman, Georgia. I f Chicago United Michigan Corporation, F l i n t , Michigan, f o r approval to acquire 100 percent of the v o t i n g s h a r e s of United Michigan Corporation, New C a s t l e County, Delaware. 1/ J7 A p p l i c a t i o n processed on behalf of the Board of Governors under d e l e g a t e d authori t y . H.2, 1981 No. 26 • - 7 - ACTIONS OF THE BOARD-Continued Chicago Woodstock S t a t e Bancorp., I n c . , Woodstock, I l l i n o i s , f o r approval to acquire 100 percent of the v o t i n g shares ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of the s u c c e s s o r by merger to The S t a t e Bank of Woodstock, Woodstock, I l l i n o i s . 1/ S t . Louis Salem National Bancorporation, I n c . , Salem, I l l i n o i s , f o r approval to acquire a t l e a s t 80 percent of the v o t i n g shares of The Salem National Bank, Salem, I l l i o i s . I f S t . Louis S o u t h e a s t F i n a n c i a l Bankstock Corporation, McGehee, Arkansas, f o r approval to a c q u i r e at l e a s t 80 percent of the v o t i n g s h a r e s of McGehee Bank, McGehee, Arkansas. Minneapoli s O l i v i a B a n c o r p o r a t i o n , I n c . , O l i v i a , Minnesota, f o r approval to acquire a t l e a s t 82.2 percent of t h e v o t i n g s h a r e s of American S t a t e Bank of O l i v i a , O l i v i a , Minnesota. I f Minneapolis Remer B a n c o r p o r a t i o n , I n c . , Remer, Minnesota, for approval t o a c q u i r e at l e a s t 8 0 . 9 percent of the v o t i n g s h a r e s of S e c u r i t y S t a t e Bank of Remer, Remer, Minnesota. I f Minneapoli s Wood Lake Bancorporation, Wood Lake, Minnesota, f o r approval to a c q u i r e 90 percent or more of the v o t i n g s h a r e s of Wood Lake Corporation, Wood Lake, Minnesota and i n d i r e c t l y 90 percent or more of t h e v o t i n g s h a r e s of S t a t e Bank of Wood Lake, Wood Lake, Minnesota. I f Kansas C i t y Golden C i t y Investment Company, S p r i n g f i e l d , M i s s o u r i , f o r approval to a c q u i r e at l e a s t 8 8 . 9 5 percent of the v o t i n g s h a r e s of F i r s t N a t i o n a l Bank of Golden C i t y , Golden C i t y , M i s s o u r i . JJ Kansas C i t y Grove Bancshares, I n c . , Grove, Oklahoma, f o r approval to acquire a t l e a s t 9 9 . 2 4 percent of the v o t i n g s h a r e s of S t a t e Bank of Grove, Grove, Oklahoma. J.] Kansas C i t y Kansas B a n c s h a r e s , I n c . , Kansas C i t y , M i s s o u r i , for approval t o a c q u i r e at l e a s t 9 7 . 7 5 percent of the v o t i n g s h a r e s of Parklane F i n a n c i a l Corporation, Kansas C i t y , Missouri which d i r e c t l y c o n t r o l s C i t y Bank and Trust Company, W i c h i t a , Kansas. I f Dallas F i r s t Bancshares of Sequin, I n c . , S e q u i n , T e x a s , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The F i r s t National Bank o f Sequin, S e q u i n , Texas. 1/ If A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. H.2, 1981 No. 26 8 - ACTIONS OF THE BOARD-Continued Dallas F i r s t Eastex Bancshares, I n c . , Buna, Texas, for approval to acquire 100 percent ( l e s s d i r e c t o r s ' q u a l i f y i n g shares) of the v o t i n g shares of East Texas S t a t e Bank, Buna, Texas. If Dal l a s Lorenzo Bancshares, I n c . , Lorenzo, Texas, f o r approval to acquire at l e a s t 80 percent of the v o t i n g shares of Lorenzo S t a t e Bank at Lorenzo, Lorenzo, Texas. JL/ Dal las Northshore Bancshares, I n c . , Houston, Texas, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of Northshore Bank, Houston, Texas. 1/ Dallas United Texas Bancshares, I n c . , Austin, Texas, f o r approval to acquire 100 percent ( l e s s d i r e c t o r s ' q u a l i f y i n g shares) of the v o t i n g shares of United Bank of Texas, Austin, Texas. 1/ San Francisco American Ban Corporation, B o i s e , Idaho, f o r approval to acquire 100 percent of the v o t i n g shares of American Bank of Commerce, B o i s e , Idaho. 1/ Minneapolis Denied Buhl Bancorporation, I n c . , Buhl, Minnesota, for approval to acquire at l e a s t 9 5 . 1 percent of the v o t i n g shares of The F i r s t National Bank of Buhl, Buhl, Minnesota. * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956 Chicago S t . Louis 1/ Approved K.B.J. E n t e r p r i s e s , I n c . , S i b l e y , Iowa, for approval t o i n c r e a s e ownership by 6.74 percent of the v o t i n g shares of The Viking Corporation, Denison, Iowa which owns 82.13 percent of the v o t i n g shares of Crawford County Trust and Savings Bank, Denison, Iowa. 1/ Manufacturers Bancorp, I n c . , S t . Louis, Missouri, for approval to acquire 100 percent (except d i r e c t o r s ' q u a l i f y i n g shares) of the v o t i n g shares of the successor by merger to F i r s t S t a t e Bank of Union, Union, Missouri. 1/ A p p l i c a t i o n processed on behalf of the Board of Governors under delegated authority. I e H.2, 1981 No. 26 - 9 ACTIONS OF THE BOARD-Cont inued Kansas C i t y A f f i l i a t e d Bankshares of Colorado, I n c . , Boulder, Colorado, for approval to acquire 100 percent of t h e v o t i n g shares of F i r s t Colorado Bank, N a t i o n a l A s s o c i a t i o n , Colorado S p r i n g s , Colorado, a proposed new bank. 1/ Dallas A l l i e d Bancshares, I n c . , Houston, T e x a s , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s ( e x c e p t d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of J e t e r o Bank, W e s t f i e l d , Texas. 1/ San Francisco Orbanco F i n a n c i a l S e r v i c e s Corporation, P o r t l a n d , Oregon, f o r approval t o acquire 100 percent of the v o t i n g shares of Oregon S t a t e Bank, C o r v a l l i s , Oregon, a proposed new bank. 1/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956 Richmond Approved F i r s t Maryland Bancorp., B a l t i m o r e , Maryland, for approval to i s s u e and s e l l t r a v e l e r s checks through a de novo subs i d i a r y , F i r s t Maryland Cheque Corporation, B a l t i m o r e , Maryland. Atlanta F l o r a F i n a n c i a l Corporation, F l o r a , M i s s i s s i p p i , f o r approval to engage in the s a l e , as a g e n t , of c r e d i t l i f e , c r e d i t a c c i d e n t and c r e d i t h e a l t h insurance d i r e c t l y r e l a t e d t o e x t e n s i o n s of c r e d i t through i t s s u b s i d i a r y , Bank of F l o r a , F l o r a , M i s s i s s i p p i . Chicago United Michigan C o r p o r a t i o n , F l i n t , Michigan, for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of United Michigan Mortgage Corp., F l i n t , Michigan. JL/ Minneapolis Wood Lake B a n c o r p o r a t i o n , Wood Lake, Minnesota, f o r approval to c o n t i n u e the i n s u r a n c e agency o p e r a t i o n s formerly c a r r i e d on by Wood Lake Insurance Agency, Wood Lake, Minnesota and engage in g e n e r a l insurance a c t i v i t i e s in a community with a p o p u l a t i o n not exceeding 5 , 0 0 0 . \ J S t . Louis JL/ Delayed F i r s t Kentucky N a t i o n a l C o r p o r a t i o n , L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of i n t e n t to engage de novo in item p r o c e s s i n g a c t i v i t i e s ( p r o c e s s i n g of bank card s a l e s s l i p s , a i r l i n e A p p l i c a t i o n processed on b e h a l f of the Board of Governors under d e l e g a t e d authority. I ACTIONS OF THE BOARD-Continued t i c k e t s , t h i r d party r e m i t t a n c e s and other documents) at 16402 North 28th Avenue, Phoenix, A r i z o n a , through a subs i d i a r y , NPC of A r i z o n a , I n c . ( 6 / 2 2 / 8 1 ) 3j New York 37 Reactivated The Chase Manhattan C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( a c t i n g as agent in the s a l e of insurance that a s s u r e s repayment of a l e a s e in the event of death or d i s a b i l i t y of the l e s s e e , d i r e c t l y r e l a t e d to l e a s i n g t r a n s a c t i o n s , e x c l u d i n g a u t o mobile l e a s i n g ) at Chase Manhattan Capital Corp., New York New York; Dovenmuehle, I n c . , Chicago, I l l i n o i s ; Chase National Corporate S e r v i c e s , Los A n g e l e s , C a l i f o r n i a ; Chase Manhattan Corporate S e r v i c e s , C l e v e l a n d , Ohio; Chase Manhattan Leasing Corp., Canton, Massachusetts; Chase Manhattan Leasing C o r p . , S c h i l l e r Park, I l l i n o i s ; Berkeley S e r v i c e Corp., Boston, Massachusetts; Berkeley S e r v i c e Corp'. , A t l a n t a , Georgia; B e r k e l e y S e r v i c e Corp. , Los A n g e l e s , C a l i f o r n i a ; Housing Investment Corporation of Puerto R i c o , San Juan, Puerto Rico and at branches of Chase Manhattan Bank, N.A. l o c a t e d in the S t a t e of New York in the f o l l o w i n g c i t i e s : New York City ( 1 6 2 ) , South V a l l e y Stream, Great Neck P l a z a , East Meadow, S e a f o r d , North Lynbrook, Carle P l a c e , Great Neck, Roslyn, Massapequa, Baldwin, U n i o n d a l e , East H i l l s , Manhasset, P l a i n v i e w , North BelImore, S y o s s e t t , B u f f a l o ( 2 ) , F r e e p o r t , Depew, Amherst, Niagara F a l l s , North Boston, Tonawanda, R o c h e s t e r , Caledonia, S c o t t s v i l l e , H e n r i e t t a , H a r t s d a l e , Yorktown H e i g h t s , Y a r d s l e y , P e e k s k i l l , Mount Vernon, Pelham, Bedford H i l l s , G r e e n v i l l e , Elms ford, White P l a i n s , Millwood, E a s t c h e s t e r , North White P l a i n s , Yonkers, Cross R i v e r , New R o c h e l l e , F a y e t t e v i l l e , U t i c a , Canton, M e l v i l l e , West I s l i p , Huntington Bay Shore, Southampton, Commack, S a u g e r t i e s ( 2 ) , Poughkeepsie Hopewell J u n c t i o n , Monroe, Bardonia, B r e w s t e r , Albany ( 2 ) , Glen F a l l s and Syracuse; Puerto Rico in the f o l l o w i n g c i t i e s : Hato Rey, Bayamon, Caguas, Caparra, C a r o l i n a , Mayaguez, Ponce, Rio P i e d r a s , San Juan, and Santurce; V i r g i n I s l a n d s in the f o l l o w i n g c i t i e s : C h a r l o t t e , Amalie, S t . Thomas ( 4 ) , S t . John, C h r i s t i a n s t e d , S t . Croix ( 4 ) and F r e d e r i k s t e d ; and in Agama, Guam and Balboa, Canal Zone, through i t s s u b s i d i a r y Chase Agency S e r v i c e s , I n c . , Newark, Delaware and ( a c t i n g as agent for the s a l e of property and c a s u a l t y insurance d i r e c t l y related to leasing transactions, excluding automobile l e a s i n g ) at Chase National Corporation S e r v i c e s , C l e v e l a n d , Ohio, through i t s s u b s i d i a r y , Chase Agency S e r v i c e s , I n c . , Newark, New J e r s e y ( 6 / 2 4 / 8 1 ) 3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1981 No. 26 * - 11 ACTIONS OF THE BOARD-Continued S t . Louis New York 3? F i r s t Kentucky N a t i o n a l Corporation, L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of i n t e n t to engage de novo in item p r o c e s s i n g a c t i v i t i e s ( p r o c e s s i n g of bank card s a l e s s l i p s , a i r l i n e t i c k e t s , t h i r d p a r t y r e m i t t a n c e s and other documents) at 16402 North 28th Avenue, Phoenix, Arizona, through a subs i d i a r y , NPC of A r i z o n a , Inc. ( 6 / 2 6 / 8 1 ) 3/ Permitted The Chase Manhattan C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( a c t i n g as agent in the s a l e of insurance that a s s u r e s repayment of a l e a s e in the event of death or d i s a b i l i t y of the l e s s e e , d i r e c t l y r e l a t e d to l e a s i n g t r a n s a c t i o n s , e x c l u d i n g automobile l e a s i n g ) at Chase Manhattan Capital Corp., New York, New York; Dovenmuehle, I n c . , Chicago, I l l i n o i s ; Chase National Corporate S e r v i c e s , Los A n g e l e s , C a l i f o r n i a ; Chase N a t i o n a l Corporate S e r v i c e s , C l e v e l a n d , Ohio; Chase Manhattan Leasing Corp., Canton, M a s s a c h u s e t t s ; Chase Manhattan Leasing C o r p . , S c h i l l e r Park, I l l i n o i s ; B e r k e l e y S e r v i c e Corp., Boston, Massachusetts; Berkeley S e r v i c e Corp., A t l a n t a , Georgia; B e r k e l e y S e r v i c e C o r p . , Los A n g e l e s , C a l i f o r n i a ; Housing Investment Corporation of Puerto R i c o , San Juan, Puerto Rico and at branches of Chase Manhattan Bank, N.A. l o c a t e d i n the S t a t e of New York i n the f o l l o w i n g c i t i e s : New York C i t y ( 1 6 2 ) , South V a l l e y Stream, Great Neck P l a z a , East Meadow, S e a f o r d , North Lynbrook, Carle P l a c e , Great Neck, Roslyn, Massapequa, Baldwin, U n i o n d a l e , East H i l l s , Manhasset, P l a i n v i e w , North B e l l m o r e , S y o s s e t , B u f f a l o ( 2 ) , F r e e p o r t , Depew, Amherst, Niagara F a l l s , North Boston, Tonawanda, R o c h e s t e r , Caledonia, S c o t t s v i l l e , H e n r i e t t a , H a r t s d a l e , Yorktown H e i g h t s , Y a r d s l e y , P e e s k i l l , Mount Vernon, Pelham, Bedford H i l l s , G r e e n v i l l e , Elmsford, White P l a i n s , Millwood, E a s t c h e s t e r , North White P l a i n s , Yonkers, Cross R i v e r , New R o c h e l l e , F a y e t e v i l l e , U t i c a , Canton, M e l v i l l e , West I s l i p , Huntington, Bay Shore, Southampton, Commack, S a u g e r t i e s ( 2 ) , Poughkeepsie, Hopewell J u n c t i o n , Monroe, Bardonia, B r e w s t e r , Albany ( 2 ) , Glen F a l l s , and Syracuse; Puerto Rico in the f o l l o w i n g c i t i e s : Hato Rey, Bayamon, Caguas, Caparra, C a r o l i n a , Mayaguez, Ponce, Rio P i e d r a s , San Juan, and Santurce; V i r g i n I s l a n d s in the f o l l o w i n g c i t i e s : C h a r l o t t e , Amalie, S t . Thomas ( 4 ) , S t . John, C h r i s t i a n s t e d , S t . Croix ( 4 ) and F r e d e r i k s t e d ; and i n Guam and Balboa, Canal Zone, through i t s s u b s i d i a r y , 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on behalf of the Board of Governors under d e l e g a t e d a u t h o r i t y . i H.2, 1981 No. 26 - 12 ACTIONS OF THE BOARD-Continued Chase Agency S e r v i c e s , I n c . , Newark, Delaware and ( a c t i n g as agent for the s a l e of property and c a s u a l t y insurance d i r e c t l y related to leasing t r a n s a c t i o n s , excluding automobile l e a s i n g ) a t Chase National Corporation S e r v i c e s , C l e v e l a n d , Ohio, through i t s s u b s i d i a r y , Chase Agency S e r v i c e s , I n c . , Newark, New J e r s e y ( 6 / 2 5 / 8 1 ) _3/ New York C i t i c o r p , New York, New York, t o expand the a c t i v i t i e s of an e x i s t i n g o f f i c e to i n c l u d e the f o l l o w i n g a c t i v i t i e s ( t h e s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and personal property s u b j e c t to a s e c u r i t y agreement w i t h C i t i c o r p P e r s o n - t o - P e r s o n F i n a n c i a l Center, I n c . to the e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n surance laws and r e g u l a t i o n s ; the p r e v i o u s l y approved s e r v i c e area of the o f f i c e i s comprised of San Mateo, San Clara and Alameda C o u n t i e s ) at 2001 Gateway P l a c e , San J o s e , C a l i f o r n i a , through i t s s u b s i d i a r y , C i t i c o r p Persont o - P e r s o n F i n a n c i a l Center, I n c . ( 6 / 2 5 / 8 1 ) 3 / New York C i t i c o r p , New York, New York, r e q u e s t s permission to e s t a b l i s h a de novo o f f i c e of i t s s u b s i d i a r y , C i t i c o r p Washington I n d u s t r i a l Loan Company and to expand the a c t i v i t i e s of an e x i s t i n g o f f i c e of i t s s u b s i d i a r y , C i t i c o r p Washington F i n a n c i a l C e n t e r , I n c . , both to i n v o l v e the f o l l o w i n g a c t i v i t i e s ( t h e making or a c q u i r i n g of loans and other e x t e n s i o n s of c r e d i t , secured or unsecured, for consumer and o t h e r purposes; the e x t e n s i o n of loans to d e a l e r s f o r the f i n a n c i n g of i n v e n t o r y ( f l o o r planning) and working c a p i t a l purposes; the purchasing and s e r v i c i n g f o r i t s own account of s a l e s f i n a n c e c o n t r a c t s ; the s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h or d e c r e a s i n g or l e v e l ( i n the case of s i n g l e payment l o a n s ) term l i f e insurance by l i c e n s e d a g e n t s or brokers, as r e q u i r e d ; the s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and personal property s u b j e c t to a s e c u r i t y agreement w i t h C i t i c o r p Washington I n d u s t r i a l Loan Company or C i t i c o r p Washington F i n a n c i a l Center, I n c . , t o the e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e insurance laws and r e g u l a t i o n s ; the o r i g i n a t i n g , f o r i t s own account or for the account of o t h e r s , of f i r s t mortgage loans secured by r e s i d e n t i a l or commercial p r o p e r t i e s ; the s e r v i c e area of the de novo o f f i c e would be comprised of the e n t i r e S t a t e of Washington; C i t i c o r p a l s o w i s h e s to expand the p r e v i o u s l y approved s e r v i c e area of the e x i s t i n g o f f i c e of C i t i c o r p Washington F i n a n c i a l Center, I n c . , t o include the e n t i r e S t a t e of Washington; c r e d i t r e l a t e d l i f e , 37 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on behalf of the Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1981 No. 26 - 1 3 ACTIONS OF THE BOARD-Continued a c c i d e n t , and h e a l t h insurance may be w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e of C i t i c o r p Washington Financial Center, I n c . and C i t i c o r p Washington I n d u s t r i a l Loan Company) at Sea Tac V i l l a g e , 31810 P a c i f i c Highway South, Federal Way, Washington, through i t s subsidi a r i e s , C i t i c o r p Washington I n d u s t r i a l Loan Company and C i t i c o r p Washington Financial Center, I n c . ( 5 / 1 2 / 8 1 ) _3/ New York C i t i c o r p , New York, New York, requests permission to e s t a b l i s h a de novo o f f i c e of i t s s u b s i d i a r y , C i t i c o r p Washington I n d u s t r i a l Loan Company, and to expand the s e r v i c e area of an e x i s t i n g o f f i c e of i t s s u b s i d i a r y , C i t i c o r p Washington F i n a n c i a l Center, I n c . , both to i n v o l v e the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other ext e n s i o n s of c r e d i t , secured or unsecured, for consumer and other purposes; the e x t e n s i o n of loans to dealers for the f i n a n c i n g of inventory ( f l o o r planning) and working c a p i t a l purposes; the purchasing and s e r v i c i n g f o r i t s own account of s a l e s f i n a n c e c o n t r a c t s ; the s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h or decreasing or l e v e l ( i n the case of s i n g l e payment loans) term l i f e insurance by l i c e n s e d agents or brokers, as required; the s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and personal property subject to a s e c u r i t y agreement with C i t i c o r p Washington I n d u s t r i a l Loan Company, or C i t i c o r p Washington Financial Center, I n c . , t o the extent permissible under a p p l i c a b l e S t a t e insurance laws and r e g u l a t i o n s ; the o r i g i n a t i n g , f o r i t s own account or f o r the account of o t h e r s , of f i r s t mortgage loans secured by r e s i d e n t i a l or commercial p r o p e r t i e s ; the s e r v i c e area of the de novo o f f i c e would be comprised of the e n t i r e S t a t e of Washington; C i t i c o r p a l s o w i s h e s to expand the p r e v i o u s l y approved s e r v i c e area of the e x i s t i n g o f f i c e of C i t i c o r p Washington Financial Center, I n c . , t o include the e n t i r e S t a t e of Washington; c r e d i t r e l a t e d l i f e , a c c i d e n t , and h e a l t h insurance may be w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e of C i t i c o r p Washington F i n a n c i a l Center, I n c . and C i t i c o r p Washington I n d u s t r i a l Loan Company) at 3 South Sound Center, Lacey, Washington, through i t s s u b s i d i a r i e s , C i t i c o r p Washington I n d u s t r i a l Loan Company and C i t i c o r p Washington F i n a n c i a l Center, Inc. ( 6 / 2 5 / 8 1 ) 3/ Richmond NCNB Corporation, C h a r l o t t e , North Carolina, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or acquiring loans or other e x t e n s i o n s of c r e d i t such as would be made by a f a c t o r i n g and commercial finance com- 3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . i H.2, 1981 No. 26 - 1 4 ACTIONS OF THE BOARD-Continued pany, i n c l u d i n g commercial loans secured by a borrower's i n v e n t o r y , accounts r e c e i v a b l e or other accounts, and s e r v i c i n g such loans for others) at 212 East Colonial Drive, Orlando, F l o r i d a , through i t s s u b s i d i a r y , NCNB Financial S e r v i c e s , I n c . ( 6 / 2 7 / 8 1 ) 3/ Atlanta Community Investment, I n c . , Brundidge, Alabama, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( i n the s a l e of general insurance including l i f e , accident and h e a l t h , property damage l i a b i l i t y and other types of general insurance in a community with a population under 5 , 0 0 0 ) at 200 North Main S t r e e t , Brundidge, Alabama, serving Pike County, Alabama and rural portions of contiguous counties in Alabama, through i t s s u b s i d i a r y , Community Insurance Agency ( 6 / 2 6 / 8 1 ) 3/ S t . Louis F i r s t Kentucky National Corporation, L o u i s v i l l e , Kentucky, n o t i f i c a t i o n of i n t e n t to engage de novo in item processing a c t i v i t i e s ( p r o c e s s i n g of bank card s a l e s s l i p s , a i r l i n e t i c k e t s , t h i r d party remittances and other documents) at 16402 North 28th Avenue, Phoenix, Arizona, through a subs i d i a r y , NFC of Arizona, Inc. ( 6 / 2 7 / 8 1 ) 3/ San Francisco BankAmerica Corporation, San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage de novo a c t i v i t i e s ( i n the a c t i v i t i e s of an i n d u s t r i a l loan corporation under the Utah I n d u s t r i a l Loan Law; such a c t i v i t i e s w i l l i n c l u d e , but not be limited t o , i s s u i n g investment c e r t i f i c a t e s and a c c e p t i n g savings accounts; making consumer i n s t a l l m e n t loans and other e x t e n s i o n s of c r e d i t to small b u s i n e s s e s ; making loans secured by r e a l and personal property) at 341 East 1300 South S t r e e t , Orem, Utah, serving the State of Utah, through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica T h r i f t Corporation (a Utah Corporation) ( 6 / 2 2 / 8 1 ) _3/ San Francisco U.S. Bancorp, Portland, Oregon, n o t i f i c a t i o n of intent t o engage in de novo a c t i v i t i e s (making, acquiring and s e r v i c i n g of loans and other e x t e n s i o n s of c r e d i t , e i t h e r secured or unsecured, f o r i t s own account or for the account of others i n c l u d i n g , but not l i m i t e d t o , commerc i a l , r e d i s c o u n t , i n s t a l l m e n t s a l e s c o n t r a c t s and other forms of r e c e i v a b l e s , and l e a s i n g of personal property and equipment in conformance with the p r o v i s i o n s of S e c t i o n 17 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under delegated a u t h o r i t y . H.2, 1981 No. 26 - 15 ACTIONS OF THE BOARD-Continued 2 2 5 . 4 ( a ) (1) and ( 3 ) and 2 2 5 . 4 ( a ) ( 6 ) ( a ) of Regulation Y) at Executive Club B u i l d i n g , S u i t e 501, 1776 S. Jackson S t r e e t , Denver, Colorado, the geographic area to be served by the proposed o f f i c e w i l l be that of the S t a t e s of Arizona, Colorado, Nevada, Utah and Wyoming, through i t s s u b s i d i a r y , U.S. Bancorp F i n a n c i a l , Inc. ( 6 / 2 6 / 8 1 ) _3/ San Francisco 37 U.S. Bancorp, Portland, Oregon, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making, acquiring and s e r v i c i n g of loans and other e x t e n s i o n s of c r e d i t , e i t h e r secured or unsecured, for i t s own account or for the account of others i n c l u d i n g , but not l i m i t e d t o , commercial, r e d i s c o u n t , i n s t a l l m e n t s a l e s c o n t r a c t s and other forms of r e c e i v a b l e s and l e a s i n g of personal property and equipment i n conformance with the p r o v i s i o n s of S e c t i o n 225.4 ( a ) ( 1 ) and ( 3 ) and 2 2 5 . 4 ( a ) ( 6 ) ( a ) of Regulation Y) at 400 B u i l d i n g , 400 - 108th Avenue, N.E., B e l l e v u e , Washington, the geographic area to be served by the proposed o f f i c e w i l l be the S t a t e s of Washington, Alaska, Idaho, Montana and Oregon, through i t s s u b s i d i a r y , U.S. Bancorp F i n a n c i a l , Inc. ( 6 / 2 6 / 8 1 ) 3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on behalf of the Board of Governors under d e l e g a t e d a u t h o r i t y . i H.2, 1981 No. 26 - 1 6 - APPLICATIONS RECEIVED To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of the Federal Reserve Act Cleveland Bank of Commerce & Trust Company, Lexington, Kentucky. Requests permission to e s t a b l i s h a branch at 755 Newton P i k e , Lexington, Fayette County, Kentucky. 2/ Chicago American Bank and Trust Company, Lansing, Michigan. To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y at the J.C. Penny Company S t o r e , Lansing H a l l , 5304 West Saginaw Highway, Lansing, Michigan. 7J Chicago Sears Bank and Trust Company, Chicago, I l l i n o i s . To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y at 101 North Wacker Drive, Chicago, I l l i n o i s . 2/ * * * * * To Become a Member of the Federal Reserve System Pursuant t o S e c t i o n 9 of the Federal Reserve Act Chicago City Bank & Trust Company in Dixon, Dixon, I l l i n o i s . 2_/ * * * * * A p p l i c a t i o n s and N o t i f i c a t i o n s for I n t e r n a t i o n a l I n v e s t ments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of the Bank Holding Company Act of 1956, as amended New York 2/ Citibank Overseas Investment Corporation, Wilmington, Delaware: prior n o t i f i c a t i o n of i t s i n t e n t to continue to hold 100 percent of the shares of Citibank Financial Trust Limited, London, England a f t e r F i n a n c i a l Trust makes an a d d i t i o n a l investment in Citibank Trust Limited, London, England. A p p l i c a t i o n subject to Community Reinvestment Act. The Community A f f a i r s O f f i c e r of the a p p l i c a b l e Reserve Bank may be contacted as to the length of the comment period. H.2, 1981 No. 26 - 17 APPLICATIONS RECEIVED-Continued To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956 Atlanta Southeastern Bancshares, I n c . , C a r t e r s v i l l e , Georgia, for apporval to acquire 100 percent of the voting shares of The F i r s t National Bank of C a r t e r s v i l l e , C a r t e r s v i l l e , Georgia. 2/ Chicago Bement Bancshares, I n c . , Bement, I l l i n o i s , for approval to acquire at l e a s t 80 percent of the v o t i n g shares of S t a t e Bank of Bement, Bement, I l l i n o i s . 7j Chicago Palos Bancshares, I n c . , Palos H e i g h t s , I l l i n o i s , for approval t o acquire at l e a s t 80 percent of the v o t i n g shares of Palos Bank and Trust Company, Palos Heights, I l l i n o i s . 7J S t . Louis Shawneetown Bancorp, I n c . , Shawneetown, I l l i n o i s , f o r approval to acquire at l e a s t 81.03 percent of the v o t i n g shares of F i r s t National Bank in Shawneetown, Shawneetown, I l l i n o i s . 2/ Kansas City C i t i z e n s F i n a n c i a l S e r v i c e s , I n c . , Aurora, Colorado, f o r approval to acquire 100 percent of the v o t i n g shares of C i t i z e n s Bank of Aurora, Aurora, Colorado. 2/ Kansas City V & V Holding Company, Lander, Wyoming, for approval t o acquire at l e a s t 80 percent of the v o t i n g shares of Central Bank and Trust, Lander, Wyoming. 7J Dallas F i r s t F a i r f i e l d Bankshares, I n c . , F a i r f i e l d , Texas, for approval to acquire at l e a s t 80 percent of the voting shares of F i r s t National Bank, F a i r f i e l d , Texas. 2 j Dallas Port Neches Bancshares, I n c . , Port Neches, Texas, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of The F i r s t National Bank of Port Neches, Port Neches, Texas. 2/ 2/ A p p l i c a t i o n subject to Community Reinvestment Act. The Community A f f a i r s O f f i c e r of the a p p l i c a b l e Reserve Bank may be contacted as to the length of the comment period. i H.2, 1981 No. 26 18 APPLICATIONS RECEIVED-Cont inued To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956 Cleveland S o c i e t y Corporation, Cleveland, Ohio, f o r approval to acquire up to 100 percent of the v o t i n g shares of Lancaster National Bank, Lancaster, Ohio. 2/ Cleveland Winters National Corporation, Dayton, Ohio, for approval to acquire 9 9 . 7 5 percent of the v o t i n g shares of Winters National Bank of C i n c i n n a t i , C i n c i n n a t i , Ohio, a proposed new bank. 2/ Atlanta Southern Banc orporat ion of Alabama, I n c . , Birmingham, Alabama, for approval to r e t a i n i n d i r e c t l y through Birmingham Trust National Bank, Birmingham, Alabama, 19.65 percent of the v o t i n g shares of The F i r s t Bank of Alabaster, A l a b a s t e r , Alabama. l j Dal las Southwest Bancshares, I n c . , Houston, Texas, for approval to acquire Fort Worth Bancshares, I n c . , Fort Worth, Texas and i n d i r e c t l y 100 percent of the v o t i n g shares of Fort Worth Bank and Trust, Fort Worth, Texas. 2J Dal las Southwest Bancshares, I n c . , Houston, Texas, for approval to acquire 100 percent of the v o t i n g shares of Mansfield S t a t e Bank, M a n s f i e l d , Texas. 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956 New York Barclays Bank Limited and Barclays Bank I n t e r n a t i o n a l Limited, both of London, England, request permission to r e l o c a t e e x i s t i n g o f f i c e s engaging in the f o l l o w ing a c t i v i t i e s (commercial f i n a n c e and f a c t o r i n g ) from One Post S t r e e t , San F r a n c i s c o , C a l i f o r n i a to Suite 1050, F i d e l i t y Plaza, Grand and Harrison S t r e e t s , Oakland, C a l i f o r n i a , through t h e i r s u b s i d i a r y , BarelaysAmerican/Business C r e d i t , I n c . ( 6 / 2 2 / 8 1 ) New York C i t i c o r p , New York, New York, requests permission t o r e l o c a t e an e x i s t i n g o f f i c e and to expand the a c t i v i t i e s of the r e l o c a t e d o f f i c e to include the f o l l o w i n g a c t i v i t i e s (making, acquiring and s e r v i c i n g , 2/ A p p l i c a t i o n subject to Community Reinvestment Act. The Community A f f a i r s O f f i c e r of the a p p l i c a b l e Reserve Bank may be contacted as to the length of the comment period. i H.2, 1981 No. 26 - 1 9 APPLICATIONS RECEIVED-Cont inued f o r i t s own account and f o r the account of o t h e r s , e x t e n s i o n s of c r e d i t secured by l i e n s on r e s i d e n t i a l real e s t a t e ; the p r e v i o u s l y approved a c t i v i t i e s of t h i s o f f i c e i n c l u d e the o r i g i n a t i o n of o n e - t o - f o u r f a m i l y r e s i d e n t i a l mortgage l o a n s ; the p r e v i o u s l y approved s e r v i c e a r e a , comprised of the e n t i r e S t a t e of F l o r i d a , would remain the same for the new a c t i v i t i e s ) from 1108 Kane Concourse, Bay Harbor, F l o r i d a to 800 B r i c k e l l Avenue, Miami, F l o r i d a , through i t s s u b s i d i a r y , C i t i c o r p Homeowners, Inc. (6/25/81) New York C i t i c o r p , New York, New York, r e q u e s t s p e r m i s s i o n to e s t a b l i s h a de novo o f f i c e e n g a g i n g in the f o l l o w i n g a c t i v i t i e s (consumer l e n d i n g - r e l a t e d s e r v i c e s i n c l u d i n g a p p l i c a t i o n acceptance f u n c t i o n s , the e x e c u t i o n of l o a n documents and d i s b u r s a l of funds, the acceptance of payments and account adjustments i n c o n n e c t i o n with C i t i c o r p F i n a n c i a l , I n c . 1 s c r e d i t card and d i r e c t l e n d i n g a c t i v i t i e s ) a t White Marsh Mall, 8200 Perry Hall Boulevard, B a l t i m o r e , Maryland, through i t s s u b s i d i a r y , C i t i c o r p F i n a n c i a l , Inc. ( 6 / 2 5 / 8 1 ) New York Manufacturers Hanover Corporation, New York, New York, r e q u e s t s permission to e s t a b l i s h a de novo o f f i c e engaging i n the f o l l o w i n g a c t i v i t i e s (purchasing i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s and a c t i n g as an agent or broker f o r the s a l e of s i n g l e and j o i n t c r e d i t l i f e insurance and c r e d i t a c c i d e n t and h e a l t h i n s u r ance which i s d i r e c t l y r e l a t e d t o such loans and e x t e n s i o n s of c r e d i t ; Tempco L i f e Insurance Company would r e i n s u r e such c r e d i t l i f e and a c c i d e n t and h e a l t h i n s u r ance) at Paragon Center, 5201 W. Kennedy Boulevard, Tampa, F l o r i d a , through i t s s u b s i d i a r y , Termplan C r e d i t , Inc. ( 6 / 2 6 / 8 1 ) New York Manufacturers Hanover Corporation, New York, New York, r e q u e s t s permission to e s t a b l i s h a de novo o f f i c e engaging i n the f o l l o w i n g a c t i v i t i e s ( a r r a n g i n g , making or a c q u i r i n g for i t s own account or for the a c count of o t h e r s , loans and o t h e r e x t e n s i o n s of c r e d i t secured by a homeowner's e q u i t y i n t e r e s t in a home such as would be made by a consumer f i n a n c e company, s e r v i c i n g such loans and other e x t e n s i o n s of c r e d i t for any person; and a c t i n g as an agent or broker f o r the s a l e of s i n g l e and j o i n t c r e d i t l i f e i n s u r a n c e vrfiich i s d i r e c t l y r e l a t e d t o such l o a n s and e x t e n s i o n s of c r e d i t ; Tempco L i f e I n s u r ance Company would r e i n s u r e such c r e d i t l i f e and a c c i d e n t and h e a l t h i n s u r a n c e ) at Paragon Center, 5201 W. Kennedy Boulevard, Tampa, F l o r i d a , through i t s s u b s i d i a r y , Termplan Incorporated of F l o r i d a ( 6 / 2 6 / 8 1 ) H.2, 1981 No. 26 -20APPLICATIONS RECEIVED-Continued Richmond Southern Bancorporation, I n c . , G r e e n v i l l e , South Carolina, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making extensions of c r e d i t as a licensed consumer f i nance lender) at 121 East Choctow, S a l l i s a w , Oklahoma, through i t s subsidiary, World Acceptence Corporation (6/22/81) Atlanta Barnett Banks of F l o r i d a , I n c . , J a c k s o n v i l l e , Florida, t o engage jle novo in check v e r i f i c a t i o n a c t i v i t i e s from an additional o f f i c e of an e x i s t i n g subsidiary known as V e r i f i c a t i o n s , I n c . ; a c t i v i t i e s are to be conducted from an o f f i c e located in Columbia, South Carolina ( 6 / 2 3 / 8 1 ) Chicago F i r s t American Bank Corporation, Kalamazoo, Michigan, for approval to acquire a l l of the outstanding shares of Kelly Mortgage and Investment Company, a wholly owned nonbank subsidiary of Northern States Bancorporation, I n c . , D e t r o i t , Michigan, and thereby engage in s e r v i c i n g loans and other extensions of c r e d i t . Chicago Michigan National Corporation, Bloomfield H i l l s , Michigan, for approval to acquire 100 percent of the outstanding v o t i n g shares of Wolverine L i f e Insurance Company, Phoenix, Arizona. S t . Louis F i r s t Arkansas Bankstock Corporation, L i t t l e Rock, Arkansas, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making appraisals on a l l types of real e s t a t e including a g r i c u l t u r a l r e s i d e n t i a l and commercial) at 6th & Walnut S t r e e t s , Pine B l u f f , Arkansas, but appraisals would be made throughout the e n t i r e S t a t e , through a subsidiary, National Credit Corporation (an industrial loan i n s i t u t i o n ) (6/22/81) Kansas City V & V Holding Company, Lander, Wyoming, for approval to acquire 90.86 percent of Central Trust Company, Lander, Wyoming, and thereby engage in permissible trust company act i v i t i e s . Kansas City Western Bancshares, I n c . , Stockton, Kansas, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (consumer and commercial finance a c t i v i t i e s , including direct loans to consumers, a g r i c u l t u r a l c r e d i t and other types of lending that are ordinary and usual for the area being served) at 123 N. Cedar S t r e e t , Stockton, Kansas, serving an area within a 15-mile radius of Stockton, Kansas ( 6 / 2 2 / 8 1 ) H . 2 , 1981 No. 26 - 2 1 - APPLICATIONS RECEIVED-Cont inued San Francisco BankAmerica Corporation, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( s t o r ing and p r o c e s s i n g banking, f i n a n c i a l or r e l a t e d economic data; such a c t i v i t i e s w i l l i n c l u d e , but not be l i m i t e d t o , account r e c o n c i l i a t i o n , d e p o s i t a c c o u n t i n g , general ledger a c c o u n t i n g , loan a c c o u n t i n g , c r e d i t union a c c o u n t i n g and providing p a y r o l l , a c c o u n t s r e c e i v a b l e and p a y a b l e , b i l l i n g and other s i m i l a r data p r o c e s s i n g s e r v i c e s ) at C e n t e n n i a l I n d u s t r i a l Park, 360 South R a n d o l p h v i l l e Road, P i s c a t a w a y , New J e r s e y , s e r v i n g the S t a t e s of Ohio, Georgia, F l o r i d a , Alabama, T e n n e s s e e , M i s s i s s i p p i and L o u i s i a n a , through i t s d i r e c t s u b s i d i a r y , Decimus Corporation (a C a l i f o r n i a Corporation) (6/23/81) San Francisco BankAmerica Corport i o n , San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (making or a c q u i r i n g f o r i t s own account loans and other e x t e n s i o n of c r e d i t such as would be made or acquired by a f i n a n c e company, s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t , and o f f e r i n g c r e d i t r e l a t e d l i f e and c r e d i t r e l a t e d a c c i d e n t and h e a l t h insurance; c r e d i t r e l a t e d property i n s u r a n c e w i l l not be o f f e r e d in the S t a t e s of West V i r g i n i a , Maryland, P e n n s y l v a n i a or V i r g i n i a ; such a c t i v i t i e s w i l l i n c l u d e , but not be l i m i t e d t o , making consumer i n s t a l l m e n t l o a n s ; purchasing i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s ; making loans and other e x t e n s i o n s of c r e d i t to small b u s i n e s s e s ; making loans and other e x t e n s i o n s of c r e d i t secured by r e a l and personal property; and o f f e r i n g c r e d i t r e l a t e d l i f e and c r e d i t r e l a t e d a c c i d e n t and h e a l t h insurance d i r e c t l y r e l a t e d to e x t e n s i o n s of c r e d i t made or acquired by FinanceAmerica Corporation) a t 307 Cleveland Avenue, Fairmont, West V i r g i n i a , s e r v i n g t h e e n t i r e S t a t e of West V i r g i n i a ; a t 125 South Queen S t r e e t , Martinsburg, West V i r g i n i a , s e r v ing the e n t i r e S t a t e s of West V i r g i n i a , Maryland and V i r g i n i a ; and a t 245 Walnut S t r e e t , Morgantown, West V i r g i n i a , s e r v i n g t h e e n t i r e S t a t e s of West V i r g i n i a , Maryland and Pennsylvania ( 6 / 2 5 / 8 1 ) San Francisco Imperial Bancorp, Inglewood, C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( p r o v i d i n g f i nancing of c a p i t a l improvements and equipment a c q u i s i t i o n s by s t a t e , county and municipal government s u b d i v i s i o n s i n c l u d i n g the l e a s i n g of personal or real property or a c t i n g as a g e n t , broker or a d v i s e r i n l e a s i n g such prope r t y throughout the United S t a t e s ; the company w i l l a l s o act as investment or f i n a n c i n g advisor to S t a t e and l o c a l H.2, 1981 No. 26 -22APPLICATIONS RECEIVED-Continued governments) at 9920 So. La Cienega Boulevard, Inglewood, C a l i f o r n i a and an additional o f f i c e at 7800 East Union Parkway, Denver, Colorado, through a wholly-owned subsidi a r y , Imperial Municipal S e r v i c e s Corporation (a C a l i fornia Corporation) ( 6 / 2 3 / 8 1 ) San Francisco Orbano Financial S e r v i c e s Corporation, Portland, Oregon, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making or acquiring, for i t s own account or for the account of o t h e r s , mortgage loans or other extensions of c r e d i t ; s e r v i c i n g loans and other extensions of c r e d i t for any person; acting as insurance agent or broker for any c r e d i t l i f e insurance that i s d i r e c t l y r e l a t e d to an extension of c r e d i t by i t ; o r i g i n a t i n g conventional mobile home loans and mobile home loans insured by the Federal Housing Administration or guaranteed by the Veterans Administration for sale t o f i a n c i a l i n s t i t u t i o n s , the Federal National Mortage A s s o c i a t i o n , or i n mortgage-backed s e c u r i t i e s guaranteed by the Government National Mortgage A s s o c i a t i o n which loans w i l l be secured by installment s a l e s contracts on mobile homes; s e r v i c i n g such mobile home loans for i t s i n v e s t o r s by c o l l e c t i n g payments, p e r i o d i c a l l y i n s p e c t i n g c o l l a t e r a l , and supervising repossessions in the event of unremedied d e f a u l t s ; and providing wholesale financing for mobile homes) at 10575 Katy Freeway, Suite 203, Houston, Texas, s e r v i n g the southern portion of Texas, through i t s subsidiary, Forst Wayne Mortgage Co. ( 6 / 2 7 / 8 1 ) San Francisco S e a f i r s t Corporation, S e a t t l e , Washington, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s (making and acquiring loans and other extensions of c r e d i t secured by r e a l e s t a t e mortgages and deeds of t r u s t ; and acting as agent for the s a l e of c r e d i t l i f e and accident and d i s a b i l i t y insurance d i r e c t l y r e l a t e d to i t s extensions of c r e d i t ) in Modesto, C a l i f o r n i a , serving the State of C a l i f o r n i a , through i t s subsidiary, S e a f i r s t Mortgage Corporation (6/26/81) San Francisco Security P a c i f i c Corporation, Los Angeles, C a l i f o r n i a , not i i i c a t i o n of intent to engage in de novo a c t i v i t i e s ( i n the o r i g i n a t i o n and a c q u i s i t i o n of mortgage loans, i n c l u d ing development and construction loans on m u l t i - f a m i l y and commercial properties for Security P a c i f i c Mortgage and Real Estate S e r v i c e s , I n c . ' s own account or for s a l e to others and the servicing of such loans for others) in Los Angeles, C a l i f o r n i a ; San Francisco, C a l i f o r n i a ; H.2, 1981 No. 26 - 2 3 APPLICATIONS RECEIVED-Continued Denver, Colorado; Minneapolis, Minnesota; Portland, Oregon; D a l l a s , Texas; Houston, Texas; Salt Lake C i t y , Utah and B e l l e v u e , Washington, serving the United S t a t e s , through i t s s u b s i d i a r y , Security P a c i f i c Mortgage and Real E s t a t e S e r v i c e s , I n c . ( 6 / 2 6 / 8 1 ) * * * * * Agreements F i l e d Pursuant to S e c t i o n 8 of the __ S e c u r i t i e s Exchange Act of 1934 Bank Hapoalim B.M., Tel Aviv, I s r a e l , has f i l e d an agreement with the Federal Reserve Bank of New York (trfiich i s authorized t o accept such agreements on behalf of the Board of Governors under delegated authority) undertaking t o comply with a l l p r o v i s i o n s which r e l a t e to the use of c r e d i t t o finance t r a n s a c t i o n s in s e c u r i t i e s . * * * * * REPORTS RECEIVED Ownership Statement F i l e d Pursuant to S e c t i o n 13(d) of the S e c u r i t i e s Exchange Act Aquia Bank and Trust Company, S t a f f o r d , V i r g i n i a (Amendment #1) F i l e d by Byron L. P h i l l i p s * * * * * PETITIONS FOR RULEMAKING None.
@FedFRASER