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ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
:Pyy^
Applications and Reports Received or Acted on
and All Other Actions of the Board
H.2
1975 No. 26
During the Week Ending June 28, 1975
District
5
,
Registration Statement Filed Pursuant to
Section 12(g) of the Securities Exchange Act
Received
Aquia Bank and Trust Company, Stafford, Virginia
*
12
9
Current Report Filed Pursuant to Section 13
of the Securities Exchange Act
Received
Farmers & Merchants Bank of Central California,
Lodi, California
-k -k
To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the FederalReserve Act
Received
State Bank of East Fort Worth, Fort Worth, Texas
Approved
^Victoria State Bank, Victoria, Minnesota
"k
Vc
-k
^Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
6-12-75
-k -k -k -k
•k -k *
11
Date
6-26-75
H.2
1975 No. 26
- 2 To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Received
The Toledo Trust Company, Toledo, Ohio. Branch to
be established at 21 North Cove Boulevard, Toledo,
Lucas County.
Chippewa Valley Bank, Rittman, Ohio. Branch to be
established at 21 South State Street, Rittman, Wayne County.
The Louisville Trust Company, Louisville, Kentucky.
Branch to be established at 72-5 Fegenbush Lane, Louisville,
Jefferson County.
Approved
-Hamilton First American Bank, Memphis, Tennessee. Branch
to be established at 5702 Stage Road, Bartlett, Shelby
County.
Denied by State
American Trust & Savings Bank, Dubuque, Iowa.
* * * * *
2
Thirty Day Notice of Intention to Establish an
Additional Branch in a Foreign Country
Approved
Chase Manhattan Bank National Association, New York, New York:
an additional branch in the Republic of Panama, to be
located in the Colon Free Zone.
* * * * *
*Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
International Investments and Other Actions Approved
Pursuant to Sections 25 and 25(a) of the Federal
Reserve Act.and Sections 4(c)9 and 4(c)13 of the
Bank Holding Company Act of 1956, as amended
The First National Bank of Boston, Boston, Massachusetts:
to acquire and hold 100 per cent of Firnabos Nominees
Limited, London, England, and Boston Nominees Limited,
St. Peter Port, Guernsey, Channel Islands; and to
continue to hold the shares of Old Colony Nominees Limited,
London England.
Maryland National Overseas Investment Corporation, Baltimore,
Maryland: an additional investment in London Interstate
Bank Limited, London, England.
First Atlanta International Corporation, Atlanta, Georgia:
an additional investment in London Interstate Bank Limited,
London, England.
Indiana National Overseas Corporation, Indianapolis, Indiana:
an additional investment in London Interstate Bank Limited,
London, England.
Continental International Finance Corporation, Chicago, Illinois
removal of the standard subsidiary conditions imposed on
Continental Bank S.A., Brussels, Belgium; Conill Bank, A.G.,
Vienna, Austria; Continental Development Bank S.A.L., Beirut,
Lebanon; and Continental Illinois Bank (Switzerland), Zurich,
Switzerland.
Mercantile International Corporation, St. Louis, Missouri:
an additional investment in London Interstate Bank Limited,
London, England.
Bamerical International Financial Corporation, San Francisco,
California: an additional investment to maintain its 33
per cent interest in Partnership Pacific Limited, Sydney,
Australia.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Received
One Corporation, New Richmond, Wisconsin, for approval
to acquire 87.8 per cent of the voting shares of The
First National Bank of New Richmond, New Richmond,
Wisconsin.
Approved
Ames National Corporation, Ames, Iowa, for approval to
acquire 100 per cent of the voting shares (less directors' qualifying shares) of First National Bank,
Ames, Iowa, Ames, Iowa.
Klein Bancorporation, Inc., Chaska, Minnesota, for approval to acquire 95.5 per cent of the voting shares
of The First National Bank of Chaska, Chaska; 93.0
per cent of the voting shares of State Bank of Cologne,
Cologne; 94.2 per cent of the voting shares of The
Klein National Bank of Madison, Madison; 96.7 per cent
of the voting shares of First National Bank in Montevideo, Montvideo; 87.1 per cent of the voting shares
of Victoria State Bank, Victoria; 91.9 per cent of the
voting shares of The First National Bank of Waconia,
Waconia; and 91.4 per cent of the voting shares of
State Bank of Young America, Young America; all located in Minnesota.
Citizens State Bancorp, Inc., Manhattan, Kansas, for approval to acquire 80 per cent or more of the voting
shares of Citizens State Bank & Trust Co., Manhattan,
Kansas.
Sooner Bancshares, Inc., Caddo, Oklahoma, for approval
to acquire 100 per cent of the voting shares (less
directorsf qualifying shares) of Bryan County National
Bank, Caddo, Oklahoma.
Denied
Cross Timbers Bancshares, Inc., Gorman, Texas, for approval to acquire 96 per cent or more of the voting
shares of The First National Bank of Gorman, Gorman,
Texas.
Withdrawn
C. Y. Tung Finance (Holdings) Inc., Hong Kong, B. B. C.,
for approval to acquire 70 per cent of the voting
shares of American Asian Bank, San Francisco, California.
H. 2
1975 No. 26
- 5
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Received
Southern Bancorporation of Alabama, Birmingham, Alabama,
for approval to acquire 90 per cent or more of the
voting shares of First Bank of Russell County, Phenix
City, Alabama.
Southern Bancorporation of Alabama, Birmingham, Alabama,
for approval to acquire 90 per cent or more of the
voting shares of First State Bank, Smiths, Alabama.
National Detroit Corporation, Detroit, Michigan, for
approval to acquire 100 per cent of the voting shares
(less directors' qualifying shares) of National Bank of
Troy, Troy, Michigan, a proposed new bank.
Approved
Southern Bancorporation, Inc., Greenville, South Carolina,
for approval to acquire 14.9 per cent of the voting
shares of Bank of North Charleston, North Charleston,
South Carolina.
Mercantile Bancorporation Inc., St. Louis, Missouri,
for approval to acquire at least 90 per cent of the
voting shares (plus directors1 qualifying shares) of
Home Trust Company, Perryville, Missouri.
*
* * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Approved
American Bancshares, Incorporated, North Miami, Florida,
for approval to acquire all of the voting shares of
ComBanks Corporation, Winter Park, Florida.
6
* * * * *
2
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Received
**Citicorp, New York, New York, notification of intent
to engage in cle novo activities (soliciting and making
direct consumer loans (from existing approved offices of
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-26-75
H.2
1975 No. 26
Received Continued
an indirect subsidiary known as Nationwide Financial
Corporation of Colorado) from time to time b) d i u c t
mail, newspaper, magazine, and other media advc i t Is Lng
throughout the United States of America where permitted'
by states statutes and regulations; this method of loan
solicitation and servicing is presently called "executive
loan" and will be conducted by mailing informative
brochures and loan applications to potential customers
or by inserting advertisements in local and national
printed media; similarly, radio and television advertisements will be aired from time to time in localities
where the "executive loan" service may offer a convenient
method of transacting the consumer lending business;
credit life/accident and health insurance will, be available to borrowers but will not be required as a precondition for obtaining a loan; the loan transaction and
any purchase of credit insurance in connection therewith
will be governed by Colorado law; in regard to the sale
of credit related insurance the subsidiary will not act
as a general insurance agency) at 1660 South Albion
Street, Denver, Colorado, through its subsidiary, Nationwide Financial Corporation of Colorado.
3
**New Jersey National Corporation, Trenton, New Jersey, notification of intent to relocate de novo activities
(making, acquiring, selling, and servicing for its own
account or for the account of others, loans and other
extensions of credit principally secured by mortgages
and such incidental activities as are necessary to carry
on the activities specified) from 513 S. Lenola Road,
Moorestown, New Jersey to Marlton Pike and Sawmill Road,
Cherry Hill, New Jersey, through its direct subsidiary,
Underwood Mortgage & Title Co.
6-18-75
4
**Pittsburgh National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(mortgage banking, including the making and selling of
mortgages, for its own account and the accounts of
others) at 1701 West Charlestone Boulevard, Las Vegas,
Nevada, through its wholly-owned subsidiary, The Kissell
Company, Springfield, Ohio.
6-25-75
5
**First Maryland Bancorp, Baltimore, Maryland, 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; servicing
loans and other extensions of credit; and acting as
insurance agent or broker in the sale of credit accident
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-23-75
H. 2
1975 No, 26
- 7 Received Continued
and health insurance and credit life insurance related
to loans and other extensions of credit by it) at Henrydale Street and U.S. Route 29, Greenville, South Carolina,
through a subsidiary, First Carolina Finance Corporation.
5
**First Maryland Bancorp, Baltimore, Maryland, notification of intent to engage in de novo activities (to act
as insurance agent or broker in the sale of credit accident and health insurance and credit life insurance
related to loans and other extensions of credit by State
Loan Corp., an affiliate of First Maryland Bancorp, or
other insurance to protect the collateral in which State
Loan Corp. has a security interest and of liability,
homeowners', and other insurance which is sold to individual borrowers of State Loan Corp. in conjunction with
part of an insurance package with insurance protecting
collateral in which State Loan Corp. has a security interest as a result of an extension of credit) at 20 Mall
Shopping Center, Guilderland, New York, through a subsidiary, Markwood Agency, Incorporated.
6-26-75
5
**First Virginia Bankshares Corporation, Falls Church, Virginia, notification of intent to engage in de novo
activities (to investigate, evaluate, and recommend
investment opportunities for one or more mortgage or
real estate investment trusts, serve as investment
adviser and financial consultant with respect to the
investments and investment policy of such trusts and
subject to the direction of the trustees, supervise the
investment operations, and service the investments of
such trusts; the company may also make or acquire loans
or other extensions of credit for the account of such
trusts) at 230 Purlieu Place, Winter Park, Florida,
through a subsidiary, First Advisors, Inc.
6-24-75
7
**FBT Bancorp, Inc., South Bend, Indiana, notification of intent to engage in de novo activities (making, acquiring,
or servicing loans or other extensions of credit for
personal, family, household or commercial purposes; the
sale of credit life/accident and health insurance in
connection with the aforementioned extensions of credit)
in Highland, Indiana, through its subsidiary, FBT Capital
Corporation, South Bank, Indiana.
6-13-75
10
First Community Bancorporation, Joplin, Missouri, for approval to acquire 100 per cent of the voting shares of
Armstrong Insurance Agency, Inc., Pineville, Missouri.
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2
1975 No. 26
10
W
"
8
Received Continued
^Mountain Banks, Ltd., Colorado Springs, Colorado, notification of intent to engage in de novo activities (accepting passbook savings and certificates of deposits of
varying maturities up to 4 years; making direct personal
loans of various types secured by new and used motor
vehicles, household goods and appliances, miscellaneous
chattels, and real property; and purchasing time sales
contracts on chattels from bona fide dealers; bank, will
also act as agent for the sale of credit life and credit
accident and health insurance in connection with the
extension of credit) at 618 Main, Alamosa, Colorado,
through a subsidiary, Alamosa Mountain Industrial Bank.
6-25-75
12
**BankAmerica Corporation, San Francisco, California, notification of intent to relocate de novo activites (making
loans and extending credit and providing of services
incident to such loans and extensions of credit such as
would be made or provided by a finance company, including the following specific activities: (a) making of
consumer installment loans and purchasing installment
sales finance contracts, and making of loans to small
businesses; (b) 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 FinanceAmerica
Corporation) from 438 North Trade Street, Winston-Salem,
North Carolina, to 1415 Peters Creek Parkway, WinstonSalem, North Carolina, through its subsidiary, FinanceAmerica Corporation.
6-19-75
12
**Security Pacific Corporation, Los Angeles, California,
notification of intent to engage in de novo activities
(the origination and acquisition of mortgage loans,
including developemnt and construction loans on multifamily and commercial properties, for its own account or
for sale to others; and the servicing of such loans for
others) at 513 W. Maple Ave., Vienna, Virginia, through
its subsidiary, Kassler & Co.
6- 2-75
2
Approved
Chemical New York Corporation, New York, New York, for
approval to acquire all of the voting shares of the
successor by merger to Sunamerica Corporation, Cleveland, Ohio.
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2
1975 No. 26
6
6
10
2
7
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- 9 -
Approved Continued
American Bancshares, Incorporated, North Miami, Florida>
for approval to acquire the assets of ComBanks Data
Processing Center, Winter Park, Florida.
American Bancshares, Incorporated, North Miami, Florida,
for approval to acquire ComBanks Mortgage Company,
Winter Park, Florida.
Citizens State Bancorp, Inc., Manhattan, Kansas, for
approval to engage in the sale of credit life and
credit accident and health insurance directly related to
extensions of credit in Manhattan, Kansas.
Delayed
**Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities
(all facets of a consumer finance business including
without limitation 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; servicing loans and other extensions of credit
for any person; and acting as agent or broker for the
sale of credit related life/accident and health insurance and consumer credit related property (including
non-filing insurance) and casualty insurance which is
related to extensions of credit made or acquired by
Ritter Finance Company and/or its direct and indirect
subsidiaries) at 223 Mason Avenue, Cape Charles, Virginia, through an indirect subsidiary, Ritter Finance
Company Inc. of Onancock.
**Ridge Bancorporation of Wisconsin, Greendale, Wisconsin,
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 finance company;
servicing loans and other extensions of credit for any
person; and acting as an insurance agent or broker with
respect to any insurance that is directly related to an
extension of credit by or through Ridge Financial Corporation, or is directly related to the provision of other
financial services by Ridge Financial Corporation) in
Glendale, Wisconsin, through a subsidiary, Ridge Financial
Corporation.
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-26-75
6-26-75
H.2
1975 No. 26
7
1
2
-
10
-
Delayed Continued
**Ridge Bancorporat ton of tilsconsIn, Greendale, Wisconsin,
notification of intent to engage in de novo activities
(acting as an insurance agent or broker with respect to
any insurance that is directly related to an extension
of credit by or through Ridge Financial Corporation or
is directly related to the provision of other financial
services by Ridge Financial Corporation) in Milwaukee
and Greendale, Wisconsin, through a subsidiary, Ridge
Financial Corporation.
Permitted
**Worcester Bancorp, Inc., Worcester, Massachusetts, notification of intent to engage in de novo activities
(acting as insurance agent or broker in offices at which
Worcester Bancorp, Inc., or its subsidiaries are otherwise engaged in business with respect to the following
types of insurance: credit life insurance, credit
accident and health insurance, and mortgage redemption
insurance, all directly related to extensions of credit
by Worcester Bancorp, I n c s banking and nonbanking
subsidiaries subject to, however, the conditions that
language will be inserted in bold type on the insurance
application forms to inform a prospective purchaser of
insurance that he need not purchase such insurance in
order to obtain an extension of credit from Worcester
Bancorp, Inc., or any of its subsidiaries or affiliates
and subject to the further condition that all sales of
individual insurance policies for amounts in excess of
$10,000 and ten years? duration will be made by a
licensed insurance agent) at 11 Amity Street, Amherst,
Massachusetts; 243 Triangle Street, Amherst, Massachusetts; 450 West Street, South Amherst, Massachusetts; 25
Montaque Road, North Amherst, Massachusetts; 140 Russell
Street, Hadley, Massachusetts; North King Street, Northampton, Massachusetts; 181 Main Street, Marlborough, Massachusetts; 246 Maple Street, Marlborough, Massachusetts;
and 197 Washington Street, Hudson, Massachusetts; through
a subsidiary, Wornat Insurance Agency, Inc.
**Citicorp, New York, New York, notification of intent to
engage in de novo activities (acting as broker for the
sale of consumer credit related life/accident and health
insurance and consumer credit related property and
casualty insurance on purchased consumer installment
sales finance contracts; said insurance will only be
offered when such transactions are the equivalent of
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-26-75
6-23-75
6-22-75
H. 2
1975 No. 26
11
Permitted Continued
direct extensions of consumer credit by the subsidiary;
if this proposal is effected, the subsidiary will offer
to sell insurance as follows: (a) group credit life/accident and health or individual decreasing or level (in
the case or dingle payment loans) term life insurance to
cover the outstanding balances of consumer credit transactions, singly or jointly with their spouses or cosigners in the case of life coverage, in the event of
death, or, to make the contractual monthly payments on
the consumer credit transactions in the event of the
obligators' disability to the extent permissible under
applicable State insurance laws and regulations; (b)
individual casualty insurance on personal property,
subject to security agreements; and to include liability
coverage in home or automobile owner package policies
where such is the general practice; further, in regard
to the sale of credit related insurance, the subsidiary
will not act as a general insurance agency) at Foothills
Convenience Center at the intersection of Swallow Road
and South College Avenue, Fort Collins, Colorado, through
a subsidiary of its subsidiary, Nationwide Financial
Services Corporation, called Ft. Collins Industrial
Bank.
2
**Fidelity Union Bancorporation, Newark, New Jersey, notification of intent to engage in cle novo activities (the
business of making loans in the present maximum amount
of $3,500 or less under the provisions of the Pennsylvania Consumer Discount Company Act; and making available
to customers, credit life insurance and disability
insurance covering the unpaid balance of loans outstanding and other insurance to protect collateral
during the periods of credit extensions) at 1010 Lancaster Avenue, Reading, Pennsylvania, through a subsidiary of its subsidiary, Suburban Finance Company,
known as Sentry Consumer Discount Company.
6-28-75
2
*^Horizon Bancorp, Morristown, New Jersey, notification of
intent to relocate 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-four-family residences pursuant to the New Jersey Secondary Mortgage
Loan Act, Chapter 205, P.L. 1970 and in, connection
therewith, selling credit life, health, and accident
insurance) from 65 Madison Avenue, Morristown, New
Jersey, to 334 Madison Avenue, through its subsidiary,
Horizon Creditcorp.
6-26-7 5
**A(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority,
H.2
1975 No. 26
2
12 -
Permitted Continued
**Horizon Bancorp, Morristown, New Jersey, notification of
intent to relocate 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; such loans or other
extensions of credit are generally secured by equipment
or other assets which may be legally pledged) from
Morristown Municipal Airport, Morristown, New Jersey, to
334 Madison Avenue, through its subsidiary, Horizon
Leascorp.
6-26-75
3
**Provident National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo
activities (making or acquiring, for its own account or
for the account of others, loans or other extensions of
credit in particular factoring and commercial financing,
including accounts receivable and conditional sales
financing) at 1775 The Exchange, Atlanta, Georgia,
through a subsidiary, John P. Maguire and Co., Inc.
6-22-75
3
**Provident National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo
activities (making or acquiring, for its own account or
for the account of others, loans or other extensions of
credit in particular factoring and commercial financing,
including accounts receivable and conditional sales
financing) at Land Title Building, Broad and Chestnut
Streets, Philadelphia, Pennsylvania, through a subsidiary, John P. Maguire and Co., Inc.
6-27-75
4
**Mellon National Corporation, Pittsburgh, Pennsylvania,
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 mortgage company; servicing loans and
other extensions of credit; providing mortgage redemption
insurance in conjunction with the above lending and
servicing activities; such insurance will be provided
only in connection with mortgages made or serviced by
Mellon National Mortgage Corporation or its subsidiaries;
this mortgage redemption insurance will be provided
soley at the option of the borrower and the borrower
will be advised of this option in advance; holding the
stock of companies which are engaged in one or more of
the three above activities and in which Mellon National
Corporation has permission to invest) through its whollyowned subsidiary, Mellon National Mortgage Corporation,
McKees Rocks, Pennsylvania.
6-25-75
**4(c)(8) and 4(c)(T2) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2
1975 No. 26
6
-13Permitted Continued
**First Bancshares of Florida, Inc., Boca Raton, Florida,
notification of intent to engage in de novo activities
(initiation of mortgage loans for itself and/or for
institutional investors, participation in preparing
application's for mortgage loans, and soliciting investors to purchase mortgage loans and servicing mortgage loans) at 150 East Palmetto Park Road, Boca Raton,
Florida, through a subsidiary, Fleming Mortgage Company.
6-28-7S
6
^Southeast Banking Corporation, Miami, Florida, notification of intent to engage in de 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)) at 201 East Pine Street,
Orlando, Florida, through a subsidiary, Southeast Banks
Trust Company, N.A.
6-23-75
9
**First Bank System, Inc., Minneapolis, Minnesota, notification of intent to engage in de novo activities (making
direct consumer loans; and selling incidental credit
related insurance) at 1808 Main Street, Broken Arrow,
Oklahoma, through its subsidiary, FBS Financial of
Oklahoma, Inc.
6-24-75
2
7
Reactivated
**Citicorp, New York, New York, notification of intent to
engage in de novo activities (operating as a thrift
company (Morris Plan), issuing thrift certificates and
thrift passbook certificates; offering to sell life
insurance equal to the difference between the maturity
value of a deposit plan or periodic deposits over a
specified term and the balance at the time of the
depositor's death; if this proposal is effected, the
establishment will also be known as Citicorp Person-toPerson Financial Center of Utah) at 2186 Highland Drive,
Salt Lake City, Utah, through a subsidiary of Nationwide
Financial Services Corporation, known as Citicorp
Person-to-Person Financial Center.
Withdrawn
**Hawkeye Bancorporation, Des Moines, Iowa, notification
of intent to engage in de novo activities (acting as
insurance agent or broker with respect to: all insurance for Hawkeye Bancorporation and its subsidiaries;
any insurance to protect assets financed by Haweye
Bancorporation or its subsidiaries ("lenders") and other
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-23-75
6-26-75
e
H.2
1975 No. 26
- 14 Withdrawn Continued
insurance calculated to protect such lenders' ability
to obtain repayment of loans including: (a) fire and
extended coverage insurance, (b) liability insurance,
(c) homeowner's insurance, (d) performance bonds
connected with construction loans, (e) boiler and
machinery insurance, (f) theft insurance, (g) collision
and comprehensive insurance, (h) surety bonds, and (!)
marine property insurance; (3) any insurance the purpose of which is to provide loan or repayment funds
in the event of loss of income or other inability to
repay debt including: credit life and credit accident
and health insurance; convenience insurance) in Boone,
Iowa, through a subsidiary, Hawkeye Insurance Services,
Inc.
*
9
*
-k *
*
To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Received
**Archer-Daniels-Midland Company, Decatur, Illinois, notification of intent to acquire all of the outstanding
shares of stock of Tabor & Co., Decatur, Illinois,
which owns and operates eight country elevators in
Illinois, four river barge loading facilities in Iowa
and Illinois, and a dry corn mill in Kansas City,
Missouri,
* * * * *
Other Actions of the Board
Letters to Honorable William Proxmire, Chairman, Senate
Banking, Housing and Urban Affairs Committee and to
Honorable Henry S. Reuss, Chairman, House Banking,
Currency, and Housing submitting proposal to extend
reserve requirements set by Federal Reserve Board to
nonmember institutions.
S. 1475, the Credit Union Financial Institutions Act
Amendments of 1975, letter to Honorable Thomas J.
Hclntyre, Chairman, Subcommittee on Financial Institutions , stating Board's views on bill.
**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
6-25-75
H. 2
1975 No. 26
-15-
Continued
S. 1899, the Electronic Control Act of 1975, letter to
Honorable William Proxmire, Chairman, Senate Banking,
Housing and Urban Affairs Committee commenting on the
bill.
Chemung Canal Trust Company, Elmira, New York, investment
in bank premises.
Farmers State Bank, Marion, Iowa, proposed merger with
Marlinn, Inc., Marion, Iowa, report to the Federal
Deposit Insurance Corporation on competitive factors.
***Coronado, Inc., Sterling, Kansas, extension of time to
August 28, 1975, within which to consummate the acquisition of Farmers State Bank in Sterling, Kansas.
***First International Bancshares, Inc., Dallas, Texas, extension of time to September 22, 1975, within which to
consummate the acquisition of San Jacinto State Bank,
Pasadena, Texas.
***Landmark Banking Corporation, Fort Lauderdale, Florida,
extension of time until September 28, 1975, within which
to acquire First National Bank of Seminole, Seminole,
Florida.
***Michigan National Corporation, Bloomfield Hills, Michigan,
extension of time to October 18, 1975, within which to
acquire the voting shares of the successor by merger to
First National Bank of Lansing, East Lansing, Michigan,
and First National Bank of Wyoming, Wyoming, Michigan.
***Westgate Bancshares, Inc., Kansas City, Kansas, extension
of time to September 5, 1975, within which to consummate
the acquisition of Westgate State Bank, Kansas City,
Kansas.
***George Madison Corporation, Pawnee, Oklahoma, extension
of time to January 31, 1976, within which to file its
registration statement.
***NBC Corporation, Altus, Oklahoma, extension of time to
to January 31, 1976, within which to file its registration
statement.
***Chippewa Valley Bank, Rittman, Ohio, investment in bank
premises.
***Bank of New Orleans and Trust Company, New Orleans,
Louisiana, extension of time until February 1, 1976,
within which to establish a branch on Poydras Street and
St. Charles Avenue, New Orleans, Louisiana.
***Processed on behalf of the Board of Governors under delegated authority.
H.2
1975 No. 26
16
Continued
***Peoples Bank and Trust Company, Grand Haven, Michigan,
extension of time to January 10, 1976, within which to
establish a branch at the intersection of Beechtree and
Pennoye Streets, Grand Haven, Michigan.
***United California Bank, Los Angeles, California, extension
of time to August 1, 1976, within which to establish a
branch office in the Republic of Singapore.
***United Counties Trust Company, Elizabeth, New Jersey,
extension of time within which to establish a branch
at 221 Monmouth Road, Ocean Township, New Jersey.
***Shawmut Bank of Boston, N.A., Boston, Massachusetts,
extension of time to June 14, 1976, to make an
additional investment in Atlantic International Bank
Limited, London, England.
***Processed on behalf of the Board of Governors under delegated authority.
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