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ANNOUNCEMENT
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
H.2, 1996, No. 26
Actions of the Board, its Staff, and
the Federal Reserve Banks;
Applications and Reports Received
During the Week Ending June 29, 1996
ACTIONS TAKEN BY THE BOARD OF GOVERNORS
TESTIMONY AND STATEMENTS
Sales of uninsured investment products on bank
premises -- statement by Governor Kelley before
the Subcommittee on Capital Markets, Securities
and Government Sponsored Enterprises of the House
Committee on Banking and Financial Services,
June 26, 1996.
Published, June 26, 1996.
ADVISORY COUNCILS
Consumer Advisory Council.
Convened, June 27, 1996.
BANK BRANCHES. DOMESTIC
Iowa State Bank, Hull, Iowa -- to establish a branch
in Hull, upon relocation of its main office to
Sheldon, Iowa.
Approved, June 24, 1996.
BANK HOLDING COMPANIES
First Commerce Corporation, New Orleans, Louisiana -request for an exemption under section 23A of the
Federal Reserve Act.
Granted, June 24, 1996.
Firstar Corporation, Milwaukee, Wisconsin, and
Firstar Corporation of Minnesota, Bloomington,
Minnesota -- to acquire Jacob Schmidt Company, St.
Paul, Minnesota; American Bancorporation, Inc.;
American Bank, N.A; American Bank Lake City, Lake
City, Minnesota; and American Bank Moorhead,
Moorhead, Minnesota; and the nonbank subsidiaries
of American Bancorporation.
Approved, June 24, 1996.
Flathead Holding Company of Bigfork, Bigford, Montana
-- to acquire shares of BankWest, N.A., Kalispell,
Montana.
Approved, June 24, 1996.
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TO
JUNE 28,
1996
ACTIONS TAKEN BY THE BOARD OF GOVERNORS
BANKS. FOREIGN
Korea Long Term Credit Bank, Seoul, Korea -- to
establish a branch in New York, New York.
Approved, June 24, 1996.
BOARD OPERATIONS
Budget guidelines for 1997.
Approved, June 26, 1996.
REGULATIONS AND POLICIES
Regulation R -- request for public comment on
rescission of Regulation R and removal of a Board
interpretation regarding the applicability of
Section 32 of the Banking Act of 1933 to bank
holding companies.
Approved, June 26, 1996.
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
ABBREVIATIONS: BS&R - Banking Supervision and Regulation; C&CA - Consumer and
Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve
Bank Operations; IF - International Finance; OSDM - Office of Staff Director
for Management
BANK BRANCHES. DOMESTIC
Philadelphia
East Penn Bank, Emmaus, Pennsylvania -- to establish
a branch at 6890 Hamilton Boulevard, Upper Macungie
Township, Pennsylvania.
Approved, June 27, 1996.
Richmond
First Virginia Bank-Mountain Empire, Damascus,
Virginia - - t o establish a branch in the WalMart
SuperCenter at 13245 Lee Highway, Bristol,
Virginia.
Approved, June 27, 1996.
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TO
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1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK BRANCHES, DOMESTIC
Minneapolis
Flint Creek Valley Bank, Philipsburg, Montana -- to
establish a branch in Drummond, Montana.
Approved, June 28, 1996.
Cleveland
Heartland Bank, Croton, Ohio -- to establish a branch
at U.S. Route 62 and Hamilton Avenue, Gahanna,
Ohio.
Approved, June 24, 1996.
Richmond
Rockingham Heritage Bank, Harrisonburg, Virginia -to establish a branch at 410 Spotswood Avenue,
Elkton, Virginia.
Approved, June 24, 1996.
Richmond
Triangle Bank, Raleigh, North Carolina -- to
establish a branch at 1307 U.S. Highway 70 East,
New Bern, North Carolina.
Approved, June 24, 1996.
BANK HOLDING COMPANIES
New York
Adirondack Bancorp, Saranac Lake, New York - - t o
acquire Adirondack Bank, N.A.
Approved, June 24, 1996.
Atlanta
Bancorp of Lucedale, Inc., Lucedale, Mississippi -to acquire Bank of Lucedale.
Approved, June 28, 1996.
Director, BS&R
BankAmerica Corporation, San Francisco, California -to extend funding to its section 20 subsidiary, BA
Securities, Inc.
Approved, June 25, 1996.
Atlanta
BankAtlantic, A Federal Savings Bank, Fort
Lauderdale, Florida -- request for waiver of
application to merge with Bank of North American
Bancorp, Inc., and Bank of North America.
Granted, June 24, 1996.
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JUNE
PAGE
2H,
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TO
JUNE 2 8 ,
1996
A
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
New York
Canadian Imperial Bank of Commerce, Toronto, Canada,
and Canadian Imperial Holdings Inc., New York, New
York - - t o engage de novo in higher residual value
leasing activities through CIBC Inc., New York, New
York.
Permitted, June 27, 1996.
San Francisco
Capital Corp of the West, Merced, California -- to
acquire Town and Country Finance and Thrift
Company, Turlock, California.
Approved, June 28, 1996.
St. Louis
Chambers Bancshares, Inc., Danville, Arkansas -- to
acquire Acme Holding Company, Inc., Mulberry,
Arkansas, and Bank of Mulberry.
Approved, June 28, 1996.
Director, BS&R
Comerica Incorporated, Detroit, Michigan, and
Comerica Bank -- request for relief from certain
commitments made in connection with acquisition of
Manufacturers National Corporation.
Granted, June 28, 1996.
Chicago
Community Central Bank Corporation, Mount Clemens,
Michigan -- to acquire Community Central Bank.
Returned, June 26, 1996.
Minneapolis
Eau Claire Financial Services, Inc., St. Paul,
Minnesota -- to engage in general insurance agency
activities through acquisition of Lake City Agency,
Inc., Lake City, Minnesota.
Approved, June 26, 1996.
Minneapolis
Eau Claire Financial Services, Inc., St. Paul,
Minnesota -- to acquire American Bank Lake City,
Lake City, Minnesota.
Approved, June 26, 1996.
Chicago
FBOP Corporation, Oak Park, Illinois - - t o acquire
Torrance Bank, SSB, Torrance, California.
Approved, June 26, 1996.
H .2
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PAGE 5
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TO
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1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
Chicago
First Financial Corporation, Terre Haute, Indiana -to acquire Crawford Bancorp, Inc., Robinson,
Illinois, and Crawford County State Bank.
Approved, June 25, 1996.
San Francisco
First Savings Bank of Washington Bancorp, Inc., Walla
Walla, Washington -- to acquire Inland Empire Bank,
Hermiston, Oregon.
Approved, June 28, 1996.
Chicago
Heartland Financial USA, Inc. Dubuque, Iowa -- to
acquire Tri State Community Credit Corp.
Returned, June 24, 1996.
Secretary
Horizon Bancorp, Inc., Beckley, West Virginia -- to
merge with Twentieth Bancorp, Inc., Huntington,
West Virginia, and acquire The Twentieth Street
Bank.
Approved, June 28, 1996.
Atlanta
Magnolia Midlands Bancshares, Inc., Eastman,
Georgia -- to acquire Bank of Eastman.
Approved, June 25, 1996.
Atlanta
MidSouth Bancorp, Inc., Lafayette, Louisiana -- to
engage de novo in consumer finance activities
through Financial Services of the South, Inc.
Permitted, June 27, 1996.
Richmond
NationsBank Corporation, Charlotte, North Carolina -to acquire the assets of Commerce Finance Company,
Germantown, Tennessee, through acquisition of
NationsCredit Consumer Corporation, Allentown,
Pennsylvania.
Approved, June 24, 1996.
Richmond
NationsBank Corporation, Charlotte, North Carolina,
and NB Holdings Corporation -- to acquire TAC
Bancshares, Inc., Miami, Florida, and Chase Federal
Bank, FSB.
Approved, June 27, 1996.
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1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
BANK HOLDING COMPANIES
Atlanta
Newman Holdings, Inc., Newman, Georgia -- to provide
real estate appraisal services through acquisition
of Newman Financial Services, Inc., and to engage
in originating mortgage loans through acquisition
of Citizens Mortgage Group, Inc.
Approved, June 28, 1996.
Chicago
Southwest Financial Group of Iowa, Red Oak, Iowa -to engage de novo in making and servicing loans.
Permitted, June 26, 1996.
Chicago
Sparta Union Bancshares, Inc., Sparta, Wisconsin -to acquire Union National Bank 8 Trust Company.
Returned, June 25, 1996.
Atlanta
TIB Financial Corp., Key Largo, Florida -- to acquire
TIB Bank of the Keys.
Approved, June 24, 1996.
Chicago
UnionBancorp, Inc., Streator, Illinois -- to acquire
Country Bancshares, Inc., Macomb, and Omni Bank;
Prairie Bancorp, Inc., Princeton; Farmers State
Bank of Ferris, Ferris; Hanover State Bank,
Hanover; Bank of Ladd, Ladd; First National Bank of
Manlius, Manlius; Tampico National Bank, Tampico;
and Tiskilwa State Bank, Tiskilwa, all in Illinois.
Approved, June 28, 1996.
BANK MERGERS
Chicago
Independent Bank, Ionia, Michigan - - t o merge with
North Bank, Hale, Michigan.
Approved, June 24, 1996.
CHANGE IN BANK CONTROL
Dallas
Central Community Corporation, Temple, Texas -change in bank control.
Permitted, June 25, 1996.
Minneapolis
Windom State Investment Company, Windom, Minnesota -change in bank control.
Permitted, June 27, 1996.
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1996
TO
JUNE 2 8 ,
1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
Richmond
Ashe Federal Bank, West Jefferson, North Carolina,
proposed merger with Ashe Interim Federal Bank -report on competitive factors.
Submitted, June 28, 1996.
Kansas City
Bank of Dixon County, Ponca, Nebraska, proposed
merger with American State Bank, Newcastle,
Nebraska -- report on competitive factors.
Submitted, June 27, 1996.
San Francisco
Bank of Southern California, San Diego, California,
proposed merger with First National Bank -- report
on competitive factors.
Submitted, June 24, 1996.
Atlanta
Citizens First Bank, Rome, Georgia, proposed purchase
of certain assets and assumption of certain
liabilities of the two Rome, Georgia, branches of
NationsBank, N.A. (South), Atlanta, Georgia -report on competitive factors.
Submitted, June 26, 1996.
Dallas
Coastal Banc, S.S.B., Houston, Texas, proposed
acquisition of the Bay City, Texas, branch of
Compass Bank-Houston -- report on competitive
factors.
Submitted, June 28, 1996.
Dallas
Compass Texas American, Inc., Houston, Texas,
proposed merger with Texas American Bank, San
Antonio, Texas -- report on competitive factors.
Submitted, June 24, 1996.
Richmond
Fidelity Bank, Fuquay-Varina, North Carolina,
proposed merger with Perpetual State Bank,
Lexington, North Carolina -- report on competitive
factors.
Submitted, June 28, 1996.
Chicago
Firstar Bank of Minnesota, National Association,
Bloomington, Minnesota, proposed merger with
American Bank, National Association, St. Paul
Minnesota, and American Commercial Bank, St. Paul
-- report on competitive factors.
Submitted, June 28, 1996.
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TO
JUNE 28,
1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
Kansas City
Green Country Bank, FSB, Miami, Oklahoma, proposed
merger with First State Bank of Commerce, Commerce,
Oklahoma -- report on competitive factors.
Submitted, June 24, 1996.
San Francisco
Imperial Thrift and Loan Association, Glendale,
California, proposed assumption of liabilities of
Pacific Crest Investment and Loan, Agoura Hills,
California -- report on competitive factors.
Submitted, June 24, 1996.
San Francisco
ITLA Corp., Glendale, California -- proposed merger
with Imperial Thrift and Loan Association -- report
on competitive factors.
Submitted, June 26, 1996.
Boston
Medway Savings Bank, Medway, Massachusetts, proposed
reorganization into Service Bancorp -- report on
competitive factors.
Submitted, June 26, 1996.
Atlanta
NationsBank, Charlotte, North Carolina -- to acquire
Chase Federal Bank, Miami, Florida, upon merger of
Chase Federal Bank, A Federal Savings Bank with
Interim Chase Federal Bank, A Federal Savings
Bank -- report on competitive factors.
Submitted, June 27, 1996.
San Francisco
Palm Springs Savings Bank, F.S.B., Palm Springs,
California, proposed merger with Hemet Federal
Savings and Loan Association, Hemet, California -report on competitive factors.
Submitted, June 28, 1996.
Dallas
Probank, The Woodlands, Texas, proposed merger with
Compass Bank-Houston, Houston, Texas -- report on
competitive factors.
Submitted, June 25, 1996.
Dallas
Riverside National Bank, Grand Prairie, Texas,
proposed merger with First State Bank of Texas,
Denton, Texas -- report on competitive factors.
Submitted, June 28, 1996.
H .2
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1996
TO
JUNE 28,
1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
COMPETITIVE FACTORS REPORTS
Chicago
State Bank of Orion, Orion, Illinois, proposed merger
with Peoples Bank of Cambridge, Cambridge, Illinois
-- report on competitive factors.
Submitted, June 25, 1996.
Secretary
SunTrust Bank, Miami, N.A., Miami, Florida, proposed
acquisition of certain assets and assumption of
liabilities of Banco Latino International -- report
on competitive factors.
Submitted, June 25, 1996.
EXTENSIONS OF TIME
Atlanta
Brand Banking Company, Lawrenceville, Georgia -extension to July 31, 1997, to achieve change in
bank control.
Granted, June 27, 1996.
Atlanta
Capital City Bank Group, Inc., Tallahassee, Florida - extension to October 1, 1996, to acquire First
Financial Bancorp, Inc. and First Federal Bank,
with the latter merging with Capital City Bank.
Granted, June 27, 1996.
Dallas
City State Bancshares, Inc., Palacios, Texas -extension to October 2, 1996, to acquire City State
Bancshares, Inc.-Delaware, Dover, Delaware, and The
City State Bank of Palacios, Palacios, Texas.
Granted, June 27, 1996.
Dallas
City State Bancshares, Inc.-Delaware, Dover, Delaware
-- extension to October 2, 1996, to acquire The
City State Bank of Palacios, Palacios, Texas.
Granted, June 27, 1996.
Dallas
City State Bancshares, Inc., Palacios, Texas -extension to redeem shares.
Granted, June 28, 1996.
Chicago
First Commercial Bank, Chicago, Illinois -- extension
to September 30, 1996, to establish a branch at the
northwest corner of Touhy and Kedzie, Skokie,
111inois.
Granted, June 25, 1996.
H. 2
JUNE 2 4 ,
PAGE 10
1996
TO
JUNE 2 8 ,
1996
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
EXTENSIONS OF TIME
Richmond
First Union Corporation, Charlotte, North Carolina;
NationsBank Corporation, Charlotte; Southern
National Corporation, Winston-Salem, North
Carolina; and Wachovia Corporation, Winston-Salem
-- extension to September 25, 1996, to acquire an
interest in Education Financing Services, LLC,
Winston-Salem.
Granted, June 25, 1996.
Secretary
Regulations G, T, and U -- extension of comment
period to August 2, 1996, concerning amendments
to margin regulations (Docket R-0923).
Granted, June 25, 1996.
Kansas City
Star Valley Bancshares, Inc., Afton, Wyoming -extension to September 30, 1996, to acquire The
Bank of Star Valley.
Granted, June 28, 1996.
Cleveland
Wesbanco Bank Wheeling, Wheeling, West Virginia -extension to November 17, 1996, to merge with Bank
of Weirton, Weirton, West Virginia.
Granted, June 27, 1996.
Atlanta
Westside Financial Corporation, Kennesaw, Georgia -extension to September 29, 1996, to acquire
Eastside Holding Corporation, Snellville, Georgia,
and Eastside Bank and Trust Company.
Granted, June 27, 1996.
RESERVE BANK OPERATIONS
Director, FRBO
Financial Accounting Manual -- revisions and
accounting changes.
Approved, June 24, 1996.
H.2
JUNE 2 4 ,
PAGE 11
ADDITIONS AND CORRECTIONS
1996
TO
JUNE 2 8 ,
1996
ACTIONS TAKEN BY THE BOARD OF GOVERNORS
REGULATIONS AND POLICIES
Regulation D -- publication for comment of proposed
revision to simplify and update the regulation and
reduce regulatory burden (Docket R-0929).
Approved, June 5, 1996.
ADDITIONS AND CORRECTIONS
ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
CAPITAL STOCK
Secretary
Shorebank Corporation, Chicago, Illinois -- request
for waiver of commitment concerning redemption of
stock.
Granted, June 21, 1996.
FEDERAL RESERVE BANK OF BOSTON APPLICATIONS
SECTION I - APPLICATIONS SUBJECT TO
NEWSPAPER NOTICE ONLY
Application
Comment Period Ending Date
NONE
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
Application
Comment Period Ending Date
Service Bancorp, MHC, Medway,
Massachusetts - 3 (a) (1)
application to become a mutual
bank holding company through the
acquisition of Medway Savings
Bank, Medway, Massachusetts*
Newspaper
Not Yet Established
Federal Register
7-19-96
SECTION III - APPLICATIONS SUBJECT TO
FEDERAL REGISTER NOTICE ONLY
Application
Comment Period Ending Date
NONE
SECTION IV - APPLICATIONS NOT SUBJECT TO
FEDERAL REGISTER OR NEWSPAPER NOTICE
Application
NONE
SECTION V - AVAILABILITY OF CRA PUBLIC EVALUATIONS
Institution
Examination Date
Rating**
NONE
*Subject to CRA.
**Rating Definitions:
"O" - Outstanding; "S" - Satisfactory;
Improve; "SN" - Substantial Noncompliance.
"N" - Needs to
FEDERAL RESERVE BANK OF NEW YORK
C om m ent Period
Ending Date
SECTION I
Applications Subject to Newspaper
______Notice Only______
None.
SECTION n
Applications Subject to Both
Newspaper and Federal Register Notice
BanPonce Corporation, Popular International Bank, Inc., both
o f Hato Rey, Puerto Rico, and BanPonce Financial Corporation,
Willmington, Delaware, to acquire COMBANCORP, and thus
indirectly acquire its subsidiary Commerce National Bank, both
of City of Commerce, California. 1/
07/26/96 2/
SECTION TIT
N onbanking Applications
(subject to Federal Register Notice Only I
Great Falls Bancorp, Totowa, New Jersey, to engage through
its subsidiary, Greater Community Financial, LLC, Totowa,
New Jersey, in full service brokerage activities.
SECTION IV
Applications Not Involving
Public Com m ent
Morgan Guaranty International Finance Corporation, Newark,
Delaware, to make an additional investment in ICICI Securities
and Finance Company Limited, a joint venture in India.
07/16/96
SECTION V
Availability of CRA Public Evaluations
In connection with the assessment of each insured depository institution's
CRA performance, a rating is assigned from the following group:
Outstanding record of meeting community credit needs.
An institution in this group has an outstanding record of, and
is a leader in, ascertaining and helping to meet the credit
needs of its entire delineated community, including low- and
moderate-income neighborhoods, in a manner consistent with its
resources and capabilities.
Satisfactory record of meeting community credit needs.
An institution in this group has a satisfactory record of ascertaining
and helping to meet the credit needs of its entire delineated
community, including low- and moderate- income neighborhoods,
in a manner consistent with its resources and capabilities.
Needs to improve record of meeting community credit needs.
An institution in this group needs to improve its overall record
of ascertaining and helping to meet the credit needs of its entire
delineated community, including low- and moderate income
neighborhoods, in a manner consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs.
An institution in this group has a substantially deficient
record of ascertaining and helping to meet the credit needs o f its entire
delineated community, including low- and moderate- income
neighborhoods, in a manner consistent with its resources and capabilities.
W eek Ending Ju n e 29. 1996
NAME O F BANK
RATING
Banco Popular
Outstanding
De Puerto Rico
P.O. Box 2708
San Juan, Puerto Rico 00936-2708
1/ Subject to provisions o f Community Reinvestment Act.
2/ Later of dates specified in newspaper and Federal Register notices.
3/ Date specified in newspaper notice; a later date may be specified in
the Federal Register notice.
4/ Date specified in Federal Register notice; a later date may be
specified in the newspaper notice.
N/A - Not Available
EXAM INATION DATE
July 31, 1995
FEDERAL RESERVE BANK OF PHILADELPHIA
SECTIO N I - APPLICATIONS RECEIVED AND SU B JEC T TO N EW SPAPER
N O TIC E ONLY
NONE
SECTIO N n - ■APPLICATIONS RECEIVED AND SU B JEC T TO B O TH N EW SPAPER
AND FEDERAL R EG ISTER N O TIC E
NONE
SECTIO N m - APPLICATIONS RECEIVED AND SU B JEC T TO FEDERAL
R EG ISTER N O TIC E ONLY
NONE
SECTIO N IV - APPLICATIONS RECEIVED AND N O T SU B JEC T TO FEDERAL
R EG ISTER N O TICE O R N EW SPAPER
NONE
FEDERAL RESERVE BANK OF PHILADELPHIA
SECTIO N V - AVAILABILITY O F CRA PUBLIC EVALUATIONS
The following institutions were examined for CRA. The 30-business day period the bank has to make
the evaluation public has lapsed during the week ending June 28, 1996.
Identification of Ratings
In connection with the assessment of each insured depository institution's CRA performance, a rating
is assigned from the following groups:
O utstanding record of meeting com m unity credit needs.
An institution in this group has an outstanding record of, and is a leader in, ascertaining and helping
to meet the credit needs o f its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Satisfactory record of meeting community credit needs.
An institution in this group has a satisfactory record of ascertaining and helping to meet the credit
needs o f its entire delineated community, including low- and moderate-income neighborhoods, in a
manner consistent with its resources and capabilities.
Needs to improve record of meeting community credit needs.
An institution in this group needs to improve its overall record o f ascertaining and helping to meet
the credit needs o f its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs.
An institution in this group has a substantially deficient record o f ascertaining and helping to meet the
credit needs of its entire delineated community, including low- and moderate-income neighborhoods,
in a manner consistent with its resources and capabilities.
Bank/Location
Examination Date
CRA Rating
NONE
NONE
NONE
A PPLICATIONS BULLETIN
(For the week ending Ju n e 29, 1996)
SECTION I - APPLICATIONS SUBJECT TO NEW SPAPER N O TIC E ONLY
NONE
SECTION II - APPLICATIONS SUBJECT TO BOTH NEW SPAPER AND FEDERAL
R EG ISTER N O TICE
NONE
SECTION III - APPLICATIONS SUBJECT TO FED ERA L R EG ISTER N O TIC E ONLY
Received Section 4(c)(8) notice from Wesbanco, Inc., Wheeling,
West Virginia, on June 19, 1996, of its intent to acquire Universal
Mortgage Company, Bridgeport, West Virginia.
July 10, 1996
Received Section 4(c)(8) notice from KeyCorp, Cleveland, Ohio, on
June 17, 1996, of its intent to acquire Carleton, McCreary, Holmes,
& Co., Cleveland, Ohio.
July 10, 1996
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL R EG ISTER N O TIC E
O R NEW SPAPER N O TIC E
NONE *
* - Subject to CRA
N - Newspaper Comment Period
F - Federal Register Comment Period
# - Expected to End 30 Days from Date of Receipt
AVAILABILITY OF CRA PUBLIC EVALUATIONS
(June 28, 1996)
The following state member banks have been examined by the Federal Reserve Bank of
Cleveland for compliance with The Community Reinvestment Act. A public evaluation
document became available from the bank(s) listed below during the week ended June 28, 1996.
If you are interested in obtaining a copy of an evaluation document, please contact the bank(s)
directly.
There are four descriptive ratings for CRA:
OUTSTANDING: a bank in this group has an outstanding record of, and is a leader
in, ascertaining and helping to meet the credit needs of its entire delineated community,
including low- and moderate-income neighborhoods, in a manner consistent with its resources
and capabilities.
SATISFACTORY: a bank in this group has a satisfactory record of ascertaining and
helping to meet the credit needs of its entire delineated community, including low- and
moderate-income neighborhoods, in a manner consistent with its resources and capabilities.
NEEDS TO IM PROVE: a bank in this group needs to improve its overall record of
ascertaining and helping to meet the credit needs of its entire delineated community, including
low and moderate-income neighborhoods, in a manner consistent with its resources and
capabilities.
SUBSTANTIAL NON CO M PLIA N CE: a bank in this group has a substantially
deficient record of ascertaining and helping to meet the credit needs of its entire delineated
community, including low- and moderate-income neighborhoods, in a manner consistent with
its resources and capabilities.
NONE
Federal Reserve Bank of Richmond
Section I - Applications Subject to Newspaper
Notice Only
Application
Comment Period Ending Date
Triangle Bank, Raleigh, North Carolina,
to merge with Granville United Bank,
Oxford, North Carolina.'*
7-25-96
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application
First National Bancorp, Inc., St. Marys,
West Virginia, to become a bank holding
company through the acquisition of 100%
of the voting shares of The First National
Bank of St. Marys, St. Marys, West Virginia.*
Comment Period Ending Date
7-19-96**
Carolina Fincorp, Inc., Rockingham, North
Carolina, to become a bank holding company
through the acquisition of 100% of the
voting shares of Richmond Savings Bank,
Rockingham, North Carolina.*
7-22-96
F & M National Corporation, Winchester,
Virginia, to merge with Allegiance Banc
Corporation, Bethesda, Maryland.*
7-22-96
Section III - Applications Subject to Federal Register Notice
Application
Wachovia Corporation, Winston-Salem, North
Carolina, and its subsidiary, Wachovia
Capital Markets, Inc., Winston-Salem, North
Carolina, to establish a subsidiary to be
known as Wachovia International Capital
Corporation, to provide financial and tax
advisory services and engage in other
financial activities at offices located in
Zurich, Switzerland, and Atlanta, Georgia.
Comment Period Ending Date
Not yet available.
*Application is subject to CRA requirements
**Expiration of comment period specified in the Federal Register.
F e d e r a l R e s e r v e B a n k of R i c h m o n d
Section IV - Application Not Subject to
Federal Register Notice or Newspaper Notice
Application
None.
F e d e r a l R e s e r v e B a n k of R i c h m o n d
Section V - Availability of CRA Public Evaluations
Week ending June 28, 1996
Definition of Ratings
Outstanding record of meeting community credit needs.
An institution in this group has an outstanding record of, and is a leader in,
ascertaining and helping to meet the credit needs of its entire delineated
community, including low- and moderate-income neighborhoods, in a manner con
sistent with its resources and capabilities.
Satisfactory record of meeting community credit needs.
An institution in this group has a satisfactory record of ascertaining and
helping to meet the credit needs of its entire delineated community,
including low- and moderate-income neighborhoods, in a manner consistent
with its resources and capabilities.
Needs to improve record of meeting community credit needs.
An institution in this group needs to improve its overall record of ascer
taining and helping to meet the credit needs of its entire delineated
community, including low- and moderate-income neighborhoods, in a manner
consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs.
An institution in this group has a substantially deficient record of ascer
taining and helping to meet the credit needs of its entire delineated community,
including low- and moderate-income neighborhoods, in a manner consistent with
its resources and capabilities.
Examination
Date
Rating
The Farmers & Merchants Bank
of Craig County
306 Main Street
New Castle, Virginia 24127
4-8-96
Outstanding
Commerce Bank of Virginia
11500 West Broad Street
Richmond, Virginia 23233-1117
4-8-96
Satisfactory
The Capon Valley Bank
Main Street
Wardensville, Virginia
4-8-96
Outstanding
26851
F e d e r a l R e se rv e Bank o f A t l a n t a
A p p l i c a t i o n s B u l l e t i n f o r Week E n d in g June 28,
1996
Section 1 - Applications Subject to Newspaper Notice Only
Application
Comment Period Ending- Date
SunTrust Bank
Atlanta, Georgia
To establish a branch located at 5100 Dallas Highway,
to be known as the Lost Mountain Crossing Branch.
06-20-96*
Powder Springs,
Georgia,
SunTrust Bank
06-20-96*
Atlanta, Georgia
To establish a branch located at the intersection of Killian Hill and Five Forks
Trickum, Lilburn, Georgia, to be known as the Five Forks Corners Branch.
SunTrust Bank
06-20-96*
Atlanta, Georgia
To establish a branch located at the intersection of Lawrenceville Suwanee Road
and 1-85, Suwanee, Georgia, to be known as the Horizon Village Branch.
SunTrust Bank
06-20-96*
Atlanta, Georgia
To establish a branch located at 1750 Powder Springs Road, Marietta, Georgia, to
be known as the MacLand Pointe Branch.
SunTrust Bank
06-20-96*
Atlanta, Georgia
To establish a branch located at 1250 Tech Drive, N . W . , Norcross, Georgia, to be
known as the Tree Trail Village Branch.
SunTrust Bank
06-20-96*
Atlanta, Georgia
To establish a branch located at 911 Georgia Highway 120, Lawrenceville, Georgia,
to be known as the Merton Walk Branch.
Section 2 - Applications Subject to Both
Newspaper and Federal Reg-jster Notice
Application
Comment Period Ending Date
Alabama National BanCorporation
Not yet available*
Birmingham, Alabama
To merge with FIRSTBANC Holding Company, Inc., Robertsdale, Alabama, and thereby
directly acquire First Bank of Baldwin County, Robertsdale, Alabama, pursuant to
Section 3 ( a ) (5) of the Bank Holding Company Act.
South Alabama Bancorporation, Inc.
Not yet available*
Mobile, Alabama
To merge with First Monco Bancshares, Inc., Monroeville, Alabama, and thereby
directly acquire The Monroe County Bank, Monroeville, Alabama, pursuant to
Section 3 ( a ) (5) of the Bank Holding Company Act.
ONB Financial Services, Inc.
Ocala, Florida
1-BHC formation, Ocala National Bank, Ocala,
Not yet available*
Florida.
*Subject to provisions of the Community Reinvestment Act.
F e d e r a l R e se rv e Bank o f A t l a n t a
A p p l i c a t i o n s B u l l e t i n f o r Week Ending-, June 28,
1996
Section 2 - Applications Subject to Both
Newspaper and Federal Register Notice
Application
Comment Period Ending Date
First State Bancshares of Blakely, Inc.
07-22-96*
Blakely, Georgia
Newspaper
To acquire First Southwest Bancorp, Inc., Donalsonville, Georgia, a thrift
holding company, and thereby engage in operating a savings association, pursuant
to Section 4 ( c ) (8) of the Bank Holding Company Act and Section 225.25(b)(9) of
Regulation Y.
Section 3 - Applications Subject to Federal Register Only
Application
Comment Period Ending- Date
Gulf West Banks, Inc.
Not yet available
St. Petersburg, Florida
To acquire Liberty Leasing Corporation, Tampa, Florida, and thereby engage in
leasing activities, pursuant to Section 4 ( c ) (8) of the Bank Holding Company Act
and Section 225.25(b)(5) of Regulation Y.
Section 4 - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
None.
*Subject to provisions of the Community Reinvestment Act.
F e d e ra l R e se rve Bank o f A t la n t a
A p p l i c a t i o n s B u l l e t i n f o r Week E n d in g June 28,
1996
Section 10 - Availability of CRA Public Evaluations
The CRA public evaluations of the insured depository institutions listed below
became available during this week.
Information about an institution's CRA
evaluation-may be obtained directly from the institution. In connection with the
assessment of an institution's CRA performance, a rating is assigned from the
following groups:
Outstanding record of meeting community credit needs:
An institution has an
outstanding record of, and is a leader in, ascertaining and helping to meet the
credit needs of its entire delineated community, including low- and moderateincome neighborhoods, in a manner consistent with its resources and capabilities.
Satisfactory record of meeting community credit needs:
An institution has a
satisfactory record of ascertaining and helping to meet the credit needs of its
entire delineated community, including low- and moderate-income neighborhoods,
in a manner consistent with its resources and capabilities.
Needs to improve record of meeting community credit needs: An institution needs
to improve its overall record of ascertaining and helping to meet the credit
needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs: An institution has
a substantially deficient record of ascertaining and helping to meet the credit
needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Examination
Date
Bank
CRA Rating
Compass Bank
76 Laura Street
Jacksonville, Florida 32202
(904)798-5000
Satisfactory
02-26-96
First United Bank
980 North Federal Highway
Boca Raton, Florida 33432
(407)392-4000
Satisfactory
02-26-96
Dadeville Bank
Post Office 560785
Miami, Florida 33156
(305)667-8401
Satisfactory
03-18-96
F e d e ra l R e se rv e Bank o f A t la n t a
A p p lic a t io n s B u l l e t i n f o r Week E n d in g June 28,
Recently Approved Applications
1996
Approval Date
BankAtlantic, A Federal Savings Bank
06-24-96
Fort Lauderdale, Florida
Request for waiver of the application requirement of Section 3(a) (1) of the Bank
Holding Company Act to become a bank holding company with respect to the proposed
merger with Bank of North American Bancorp, Inc., and its subsidiary, Bank of
North America, both of Fort Lauderdale, Florida.
Barnett Bank of Southwest Florida
Sarasota, Florida
Commitment waiver request.
06-28-96
TIB Financial Corp.
06-24-96
Key Largo, Florida
1-BHC formation, TIB Bank of the Keys, Key Largo, Florida.
Magnolia Midlands Bankshares, Inc.
Eastman, Georgia
1-BHC formation, Bank of Eastman, Eastman, Georgia.
06-25-96
Newnan Holdings, Inc.
06-28-96
Newnan, Georgia
To acquire Newnan Financial Services, Inc., Newnan, Georgia, a non-banking
subsidiary of Newnan Savings Bank, F.S.B., Newnan, Georgia, and thereby engage
in real estate appraisal services, including construction draw inspections,
primarily for Newnan Savings Bank, but also to third parties, pursuant to Section
4(c) (8) of the Bank Holding Company Act and Section 225.25(b) (13) of Regulation
Y.
Newnan Holdings, Inc.
06-28-96
Newnan, Georgia
To acquire Citizens Mortgage Group, Inc., Newnan, Georgia, a non-banking
subsidiary of Newnan Savings Bank, F.S.B., Newnan, Georgia, and thereby engage
in originating mortgage loans, pursuant to Section 4(c) (8) of the Bank Holding
Company Act and Section 225.25(b)(1) of Regulation Y.
MidSouth Bancorp, Inc. (Notificant)
06-27-96
Lafayette, Louisiana
To engage de novo in consumer finance activities through its newly formed
subsidiary, Financial Services of the South, Inc., Lafayette, Louisiana, pursuant
to Section 4(c) (8) of the Bank Holding Company Act and Section 225.25(b) (1) (I)
of Regulation Y. Additionally, Notificant intends to engage in credit insurance
activities as specified in Section 225.25(b)(8)(ii) of Regulation Y.
Bancorp of Lucedale
06-28-96
Lucedale, Mississippi
Notice for 1-BHC formation, Bank of Lucedale, Lucedale, Mississippi.
Federal Reserve Bank of Chicago
Section I - Applications Subject to Newspaper
Notice Only
Comment Period
Ending Date
Type.
Application
Branch
Baylake Bank
Sturgeon Bay, Wisconsin
Glendale Crossing Shopping Center, Intersection of
Glendale and Velp Avenue
Green Bay, Wisconsin
NP - 7-5-96
Merger/Branch
DeMotte State Bank
DeMotte, Indiana
Hebron, Indiana branch of First Chicago/NBD Bank, N.A.
Indianapolis, Indiana
507 South Main Street
Hebron, Indiana
NP - **
Membership
Fortress Bank of Cresco
Cresco, Iowa (in organization)
NP - 6-28-96
Branch
F&M Bank
Kaukauna, Wisconsin
1901 East Main Street
Little Chute, Wisconsin
NP - 7-18-96
NP - Newspaper
FR - Federal Register
* - Subject to Provisions of Community Reinvestment Act
** - Not available at this time
Federal Reserve Bank of Chicago
Section II - Applications Subject to Both Newspaper and Federal
Register Notice
Application
Comment Period
Ending Date
COC-HC
Blanchardville Financial Services, Inc.
Blanchardville, Wisconsin
Richard Roy Kundert
F R - 6-11-96
NP - 6-30-96
3(a)(1)
Sparta Union Bancshares, Inc.*
Sparta, Wisconsin
Union National Bank & Trust Company
Sparta, Wisconsin
FR - 6-21-96
3(a)(5)
First Merchants Corporation*
Muncie, Indiana
Randolph County Bancorp
Winchester, Indiana
Randolph County Bank
Winchester, Indiana
FR - 7-15-96
NP - 7-9-96
3(a)(3)
North Shore Community Bancorp, Inc.*
Lake Forest, Illinois
Lake Forest Bancorp, Inc.
Lake Forest, Illinois
Lake Forest Bank and Trust Company
Lake Forest, Illinois
Hinsdale Bancorp, Inc.
Hinsdale, Illinois
Hinsdale Bank and Trust Company
Libertyville Bancorp, Inc.
Libertyville, Illinois
Liberty ville Bank and Trust Company
Libertyville, Illinois
FR - 7-8-96
NP - 7-7-96
3(a)(3)
Fortress Bancshares, Inc.*
Cresco, Iowa
Fortress Holdings, Inc.
Hartland, Wisconsin
Houston Security Bank
Houston. Minnespolis
Westby-Coon Valley State Bank
Westby, Wisconsin
FR - 7-15-96
NP - 6-21-96
NP - **
Federal Reserve Bank of Chicago
Section II - Applications Subject to Both Newspaper and Federal
Reeister Notice Cont’d
Comment Period
Ending Date
Type
Application
3(a)(3)
Vogel Bancshares, Inc.*
Orange City, Iowa
Ireton Baincorp
Ireton, Iowa
Security Savings Bank
FR - 5-25-96
NP - 6-29-96
3(a)(1)
Community Central Bank Corporation*
Mount Clemens, Michigan
Community Central Bank
Mount Clemens, Michigan (in organization)
FR - 6-28-96
NP - 6-15-96
3(a)(1)
Farmers State Bancshares, Inc.*
Mason City, Iowa
Farmers State Bank
Northwood, Iowa
FR - 7-19-96
Np _ **
3(a)(3)
Great Lakes Financial Resources, Inc. ESOP*
Homewood, Illinois
Great Lakes Financial Resources, Inc.
Homewood, Illinois
Bank of Homewood
Homewood, Illinois
Bank of Matteson
Matteson, Illinois
First National Bank of Blue Island
Blue Island, Illinois
FR - 7-12-96
NP - 7-16-96
3(a)(1)
Community Holdings Corporation*
Palos Hills, Illinois
First State Bank and Trust Company of Palos Hills
Palos Hills, Illinois
FR . **
Np . **
Federal Reserve Bank of Chicago
Section II - Applications Subject to Both Newspaper and Federal
Register Notice Cont’d
Comment Period
Ending Date
Type
Application
3(a)(3)
Hills Bancorporation*
Hills, Iowa
Hills Bank Kalona
Kalona, Iowa (in organization)
FR - 7-8-96
NP - 6-22-96
3(a)(3)
Landmark Financial Group, Inc.*
Belvidere, Illinois
Alpine Bancorporation, Inc.
Rockford, Illinois
Alpine Bank of Illinois
Rockford, Illinois
FR - 7-8-96
NP - 7-7-96
3(a)1)
St. Joseph Capital Corporation*
South Bend, Indiana
St. Joseph Capital Bank
Mishawaka, Indiana (in organization)
FR - 7-26-96
Np _ **
3(a)(1)
Lewis Family Partners, L.P.*
Morris, Illinois
Illinois Valley Bancorp, Inc.
Morris, Illinois
Grundy County National Bank
Morris, Illinois
PR _ **
NP - **
3(a)(3)
Country Bank Shares Corporation*
Mount Horeb, Wisconsin
Belleville Bancshares Corporation
Belleville, Wisconsin
Belleville State Bank
Belleville, Wisconsin
PR _ **
NP - **
Federal Reserve Bank of Chicago
Section III - Applications Subject to Federal Register
Notice Only
Comment Period
Ending Date
Type
Application
4(c)(8)
North Shore Community Bancorp, Inc.
Lake Forest, Illinois
Crabtree Capital Corporation
Schaumburg, Illinois
FR - 7-8-96
4(c)(8)
Libertyville Bancorp, Inc.
Lake Forest, Illinois
to engage de novo in making and servicing loans
FR - 7-3-96
4(c)(8)
Heartland Financial USA, Inc.
Dubuque, Iowa
Tri-State Community Credit Corp.
Dubuque, Iowa
PR _ **
4(c)(8)
UnionBancorp, Inc.
Streator, Illinois
LaSalle County Collections, Inc.
Ottawa, Illinois
FR - 7-8-96
4(c)(8)
Bank of Montreal
Montreal, Canada
Multinet International Bank
New York, New York
PR . **
4(c)(8)
First Chicago NBD Corporation
Chicago, Illinois
Multinet International Bank
New York, New York
PR . **
4(c)(8)
Marshall & Ilsley Corporation
Milwaukee, Wisconsin
EastPoint Technology, Inc.
Bedford, New Hampshire
FR - 7-12-96
Federal Reserve Bank of Chicago
Section IV - Applications Not Subject to Federal Register or Newspaper Notice
Type
Application
ROS
Blanchardville Financial Services, Inc.
Blanchareville, Wisconsin
to redeem 211 shares of stock
Federal Reserve Bank of Chicago
Section V - Availability of CRA Public Evaluations
The following state member banks have been examined by the Federal Reserve Bank of Chicago for
compliance with the CRA. The 30-business day period the bank has to make the evaluation public has lapsed
during the week ending June 28, 1996. If you are interested in obtaining a copy of the evaluation document,
please contact the bank(s) directly.
Identification of Ratings
O -
An institution in this group has an outstanding record of, and is a leader in,
ascertaining and helping to meet the credit needs of its entire delineated
community,
including low- and moderate-income neighborhoods, in a manner consistent with
its resources and capabilities.
S-
An institution in this group has a satisfactory record of ascertaining and helping
to meet the credit needs of its entire delineated community, including low- and
moderate-income neighborhoods, in a manner consistent with its resources and
capabilities.
NI -
An institution in this group has a needs to improve its overall record of
ascertaining
and helping to meet the credit needs of its entire delineated community, including
low- and moderate-income neighborhoods, in a manner consistent with its
resources and capabilities.
SN -
An institution in this group has a substantial noncompliance record of ascertaining
and helping to meet the credit needs of its entire delineated community, including
low- and moderate-income neighborhoods, in a manner consistent with its
resources and capabilies.
BANK NAME/LOCATIQN
EXAMINATION DATE
RATINGS
Central State Bank
102 North Main Street
Elkader, Iowa 52043
(319) 245-2110
3/18/96
S
Security Trust & Savings Bank
601 Lake Avenue
Storm Lake, Iowa 50588-1851
(712) 732-3022
3/18/96
S
Tri-County Bank
4222 Main Street
Brown City, Michigan
(810) 346-2745
3/18/96
O
48416-0100
Federal Reserve Bank of St. Louis
FOR THE WEEK ENDING June 28, 1996
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE
Application
End o f Comment Period
Section 9 branch application by Pulaski Bank
and Trust Company, Little Rock, Arkansas, to
establish a branch at Financial Center Parkway
and Hardin Road, Little Rock, Arkansas.
7-6-96
Section 9 branch application by Springdale Bank
& Trust, Springdale, Arkansas, to establish a
branch at 408 West Emma Avenue, Springdale,
Arkansas.
6-24-96
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
Application
End of Comment Period
Change in control notification involving Farmers
Bancorp, Inc., Blytheville, Arkansas, for Paula O.
Blackwell to replace the sole trustee of the
Gaylon M. Lawrence, Jr. Irrevocable Trust
(previously reported during the week ending
June 24, 1996).
Federal Register: 7-19-96
* Section 3(a)(3) applications by Mercantile
Bancorporation Inc., St. Louis, Missouri, to acquire
Peoples State Bank, Topeka, Kansas, and Mercantile
Bank of Shawnee County, Topeka, Kansas (a
proposed de novo bank).
Newspaper: 7-26-96
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE
Application
End of Comment Period
Section 4(c)(8) notification by Sharon Bancshares,
Inc., Sharon, Tennessee, to engage, de novo , in
full-service brokerage activities through offices of
the holding company’s subsidiary banks.
N/A
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
Application
None.*
* This application/notification is subject to CRA.
End o f Comment Period
FEDERAL RESERVE BANK OF ST. LOUIS
St. Louis, Missouri
AVAILABILITY OF CRA PUBLIC DISCLOSURES
Identification of RatingsOutstanding record of meeting community credit needs
An institution in this group has an outstanding record of, and is a leader in, ascertaining and helping to meet
the credit needs of its entire delineated community, including low- and moderate-income neighborhoods, in a
manner consistent with its resources and capabilities.
Satisfactory record of meeting community credit needs
An institution in this group has a satisfactory record of ascertaining and helping to meet the credit needs of its
entire delineated community, including low- and moderate- income neighborhoods, in a manner consistent with
its resources and capabilities.
Needs to improve record o f meeting community credit needs
An institution in this group needs to improve its overall record o f ascertaining and helping to meet the credit
needs of its entire delineated community, including tow- and moderate-income neighborhoods, in a manner
consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs
An institution in this group has a substantially deficient record o f ascertaining and helping to meet the credit
needs o f its entire delineated community, including low- and moderate-income neighborhoods, in a manner
consistent with its resources and capabilities.
FOR THE WEEK ENDING June 28, 1996
Name of Bank
Citizens Bank
Bank Address
New Haven, Missouri
Examination
Date
Examination
Rating
3/18/96
Satisfactory
F E D E R A L R E S E R V E B A N K O F M IN N E A P O L IS
Section I - Applications Subject to
Newspaper Notice Only
Comment Period
Ending Date
A pplication
Universal Financial Services, Inc.,
Bayport, Minnesota, to become a
bank holding company through the
acquisition of 100% of the voting
shares of First State Bank of Bayport,
Bayport, Minnesota. *
July 5, 1996
Northland Security Bank, Ramsey,
Minnesota, a de novo bank, for prior
approval to become a member of the
Federal Reserve System. *
July 22, 1996
Norwest Corporation, Minneapolis,
Minnesota, to engage in general insurance
agency activities through the acquisition
of certain assets of Dumae Insurance
Agency, Inc., Dell Rapids, South
Dakota.
June 29, 1996
FEDERAL RESERVE B A N K O F M IN N E A PO L IS
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application
Comment Period
Ending Date
Mesaba Bancshares, Inc., Biwabik,
Minnesota, for prior approval to
acquire 22.2% of the voting shares
of River Bancorp, Inc., Ramsey,
Minnesota. *
July 26, 1996
(Federal Register)
River Bancorp, Inc., Ramsey,
Minnesota, for prior approval to
acquire 100% of the voting shares
of Northland Security Bank, Ramsey,
Minnesota, a de novo bank. *
July 25, 1996
(Federal Register)
F E D E R A L R E S E R V E B A N K OF M IN N E A P O L IS
Section II - Applications Subject to Both
Newspaper and Federal Register Notice ('continued')
Comment Period
Ending Date
Application
JS Investments, Limited Partnership,
Billings, Montana; Nbar5, Limited
Partnership, Ranchester, Wyoming;
and First Interstate BancSystem of
Montana, Inc., Billings, Montana, for
prior approval to acquire 100% of the
voting shares of First Interstate Bank of
Wyoming, N.A., Casper, Wyoming. *
July 30, 1996
(Federal Register)
JS Investments, Limited Partnership,
Billings, Montana; Nbar5, Limited
Partnership, Ranchester, Wyoming;
and First Interstate BancSystem of
Montana, Inc., Billings, Montana, for
prior approval to acquire 100% of the
voting shares of First Interstate Bank of
Montana, N.A., Kalispell, Montana. *
July 30, 1996
(Federal Register)
The Ringsmuth Family Limited Partnership,
Wakefield, Michigan, for prior approval to
become a bank holding company through the
acquisition of 83.8% of the voting shares of
Wakefield Bancorporation, Inc., Wakefield,
Michigan. *
Not yet available
*Subject to CRA
FEDERAL RESERVE BANK OF MINNEAPOLIS
Section III - Applications Subject
to Federal Register Notice Only
Application
Norwest Corporation, Minneapolis,
Minnesota; Norwest Financial Services,
Inc., Des Moines, Iowa; and Norwest
Financial, Inc., Des Moines, Iowa; to engage
in consumer finance activities and the sale of
credit insurance through the acquisition of
certain assets of Sunburst Financial Services,
Inc. d/b/a Rapid Finance, Inc., Jackson,
Mississippi.
Comment Period
Ending Date
July 19, 1996
F E D E R A L R E S E R V E B A N K O F M IN N E A P O L IS
Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
NONE.
FEDERAL RESERVE BA N K O F M IN N E A PO L IS
Section V - Availability of
CRA Public Evaluations
week ending June 28, 1996
ASSIGNMENT OF RATING
Identification of Ratings
In connection with the assessment of each insured depository institution’s CRA performance, a rating
is assigned from the following groups:
OUTSTANDING RECORD OF MEETING COMMUNITY CREDIT NEEDS.
An institution in this group has an outstanding record of, and is a leader in, ascertaining and
helping to meet the credit needs of its entire delineated community, including low- and
moderate-income neighborhoods, in a manner consistent with its resources and capabilities.
SATISFACTORY RECORD OF MEETING COMMUNITY CREDIT NEEDS.
An institution in this group has a satisfactory record of ascertaining and helping to meet the
credit needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
NEEDS TO IMPROVE RECORD OF MEETING COMMUNITY CREDIT NEEDS.
An institution in this group needs to improve its overall record of ascertaining and helping to
meet the credit needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
SUBSTANTIAL NONCOMPLIANCE IN MEETING COMMUNITY CREDIT NEEDS.
An institution in this group has a substantially deficient record of ascertaining and helping to
meet the credit needs of its entire delineated community, including low-and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
BANKfSI EXAMINED
N one.
DATE OF EXAMINATION
CRA RATING
Federal Reserve Bank of Kansas City
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY
APPLICATION
COMMENT PERIOD ENDING DATF.
None.
SECTION n - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
a p p l ic a t io n
c o m m e n t p e r io d e n d in g d a t e
SSB Holdings, Inc., Miami, Oklahoma, for prior
approval to become a bank holding company through
the acquisition o f 100 percent of the voting shares of
Second Security Bankshares, Inc., Miami,
Oklahoma.*
July 19, 1996
R. Banking Limited Partnership, Oklahoma City,
Oklahoma, and its subsidiary BancFirst Corporation,
Oklahoma City, Oklahoma, for prior approval to
acquire 50 percent of the voting shares of Commerce
Bancorporation, Inc.. McLoud, Oklahoma.*
July 23, 1996
SECTION III ■ APPLICATIONS STHJECT TO FEDERAL REGISTER NOTICE ONLY
APPLICATION
COMMENT BEBIOP ENDING PATE
None.
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NW SJEAPER.NQ IK E
None.
SECTION V . AVAILABILITY OF CRA PUBLIC EVALUATIONS
Identification of Ratings
In connection with the assessment of each insured depository institution's CRA performance, a
rating is assigned from the following groups:
Federal Reserve Bank of Kansas City
Outstanding record of meeting community credit needs
An institution in this group has an outstanding record o f ascertaining and helping to meet
the credit needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Satisfactory record of meeting community credit needs
An institution in this group has a satisfactory record of ascertaining and helping to meet
the credit needs of its entire delineated community, including low - and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Needs to improve record of meeting community credit needs
An institution in this group needs to improve its overall record o f ascertaining and helping
to meet the credit needs of its entire delineated community, including low - and moderateincome neighborhoods, in a manner consistent with its resources and capabilities.
Substantial noncompliance in meeting community credit needs
An institution in this group has a substantially deficient record o f ascertaining and helping
to meet the credit needs of its entire delineated community, including low- and moderateincome neighborhoods, in a manner consistent with its resources and capabilities.
Exam pate,
CRA Public
Date.
Farmers State Bank
P.O. Box 129
Stanberry, Missouri 64489-0129
03/18/96
06/20/96
Satisfactory
Centennial Bank
13700 East Arapahoe Road
Englewood, Colorado 80112-3903
03/18/96
06/20/96
Satisfactory
Deuel County State Bank
P.O. Box 54*8
Chappell, Nebraska 69129-0000
04/01/96
06/26/96
Outstanding
*Application is subject to CRA.
CRA
Rating
FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN
APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF JUNE 24, 1996
SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION
NOTICE EXP
None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION
♦Section 3(a)(1) application by
M.B. and I.M. Hampton Family Partnership, Ltd., Mt.
Pleasant, TX, to acquire Morris County Bankshares,
Incorporated, Naples, TX, and Morris County National
Bank, Naples, TX
(Previously reported during the week of 6-3-96)
** NOTICE EXP
96/07/06
♦Section 3(a)(1) application by
East Texas Bancorp, Inc., Longview, TX, to acquire
East Texas Delaware Financial Corporation, Dover, DE, and
Community Bank, Longview, TX
N/A
♦Section 3(a)(1) application by
East Texas Delaware Financial Corporation, Dover, DE, to
acquire Community Bank, Longview, TX
N/A
♦Section 3(a)(3) application by
Big Bend Bancshares Corporation, Presidio, TX, to acquire
additional shares of Marfa National Bank, Marfa, TX
N/A
♦Section 3(a)(3) application by
Rio Bancshares Corporation, Wilmington, DE, to acquire
additional shares of Marfa National Bank, Marfa, TX
N/A
♦Section 3(a)(5) application by
Freeman Bancstock Investments, Dallas, TX, to acquire
UB&T Financial Corporation, Dallas, TX, UB&T Delaware
Financial Corporation, Dover, DE, and United Bank &
Trust, N.A., Dallas, TX
(Previously reported during the week 5-27-96 as a
Section 3(a)(3))
96/06/28
‘Section 3(a)(5) application by
Inwood Bancshares, Inc., Dallas, TX, to acquire
UB&T Financial Corporation, Dallas, TX, UB&T Delaware
Financial Corporation, Dover, DE, and United Bank &
Trust, N.A., Dallas, TX
(Previously reported during the week 5-27-96 as a
Section 3(a)(3))
Change in Control Notice by
Jefferson V.A. Haynes, Alpine, TX, to acquire an interest
in First Alpine, Inc., Alpine, TX
(Previously reported during the week of 6-3-96)
Change in Control Notice by
Marble Falls National Bank 401(K) Employee Stock
Ownership Plan, Marble Falls, TX, to acquire an
interest in Marble Falls National Bancshares, Inc.,
Marble Falls, TX
96/06/28
96/07/05
N/A
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE
NOTICE ONLY
APPLICATION
Section 4(c)(8) notification by
Southeast Bancorp of Texas, Inc., Winnie, TX, to
engage in making and servicing loans through Bonnet
Financial Services, Inc., Winnie, TX
(Previously reported during the week of 6-10-97)
Section 4(c)(8) de novo notification by
Security Shares, Inc., Abilene, TX, and its existing
nonbank subsidiary, First Independent Computers, Inc.,
Abilene, TX, to engage in data processing activities
through Vision Plus Card Services, L.L.C., Abilene, TX
NOTICE EXP
96/07/10
N/A
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
APPLICATION
None.*
* SUBJECT TO CRA.
** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY.
N/A - NOT AVAILABLE AT THIS TIME.
SECTION V - AVAILABILITY OF CRA PUBLIC EVALUATIONS
FOR THE WEEK OF JUNE 24. 1996
Outstanding record of meeting community credit needs.
An institution in this group has an outstanding record of, and is a
leader in, ascertaining and helping to meet the credit needs of its
entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and
capabilities.
Satisfactory record of meeting community credit needs.
An institution in this group has a satisfactory record of ascertaining
and helping to meet the credit needs of its entire delineated community,
including low- and moderate-income neighborhoods, in a manner consistent
with its resources and capabilities.
Needs to Improve record of meeting community credit needs.
An institution in this group need to improve its overall record of
ascertaining and helping to meet the credit needs of its entire
delineated community, including low- and moderate-income neighborhoods,
in a manner consistent with its resources and capabilities.
Substantial Noncompliance in meeting community credit needs.
An institution in this group has a substantially deficient record of
ascertaining and helping to meet the credit needs of its entire
delineated community, including low- and moderate-income neighborhoods,
in a manner consistent with its resources and capabilities.
Bank
Midland American Bank
401 West Texas Avenue
Suite 100
Midland, Texas 79701
Date of
Examination
96/03/11
CRA Rating
Satisfactory
FEDERAL RESERVE BANK OF SAN FRANCISCO
Week ending 6/28/96
Section I - Applications Sub.iect to Newspaper Notice Only
Application
Comment Period Ending Date
Idaho Banking Company (In Organization), Boise,
Idaho, to become a member of the Federal Reserve
System. *
Newspaper:
7/18/96
Farmers and Merchants Bank of Rockford, Opportunity,
Washington, to establish a branch office at 3010
S. Southeast Boulevard, Spokane, Washington. *
Newspaper:
6/01/96
Section II - Applications Sub.iect to Both
Newspaper and Federal Register Notice
Western Acquisition Partners, L.P., and Western
Acquisition, L.L.C., Buffalo Grove, Illinois,
to become bank holding companies by acquiring
at least 43.5 percent of Sunwest Bank, Tustin,
California. *
Newspaper:
Not available
Fed. Reg.:
Not available
Monarch Bancorp, Laguna Niguel, California, to
acquire Western Bank, Los Angeles, California. *
Newspaper:
Not available
Fed. Reg.:
7/29/96
Castle Creek Capital, L.L.C., Castle Creek Partners
Fund-1, L.P., and Eggemeyer Corp,, all of Chicago,
Illinois, to become bank holding companies by
acquiring 5 percent each of Monarch Bancorp, Laguna
Niguel, California. *
Newspaper:
Not available
Fed. Reg.:
7/29/96
Mutual Series Fund, Inc., Short Hills, New Jersey,
to acquire up to 24.9 percent of Monarch Bancorp,
Laguna Niguel, California. *
Newspaper:
Not available
Fed. Reg.:
7/29/96
Section III -Applications Sub.iect to Federal Register Only
Eggemeyer Corp., Chicago, Illinois, to engage in
investment or financial advice through Belle Plaine
Financial, L.L.C., Chicago, Illinois.
* Subject to CRA.
Fed. Reg.:
7/29/96
FEDERAL RESERVE BANK OF SAN FRANCISCO
Week ending 6/28/96
Section III -Applications Subject to Federal Register Only (cont’d.)
Wells Fargo & Company, San Francisco, California,
to expand the geographic scope of the activities of
installing, owning, operating and maintaining automated
teller machines nationwide, through Wells Fargo Ventures,
Inc., San Francisco, California.
Fed. Rea.:
7/19/96
Capital Corp of the West, Merced, California, to
expand the geographic scope of furnishing general
economic information and advice, general economic
statistical forecasting services and industry studies;
providing financial advice; conducting financial
feasibility studies; and to engage in providing
management consulting advice, through Capital West
Group, Inc., Merced, California.
Fed. Req.:
7/22/96
Imperial Bancorp, Inglewood, California, to
indirectly engage in the activity of servicing
extensions of credit for credit cards through
Pacific Bancard Association, Inc., Inglewood,
California.
Fed. Req.:
7/19/96
Zions Bancorporation, Salt Lake City, Utah, to
engage de novo in the activity of installing and
operating automated teller machines throughout the
United States through Cash Access, Inc., Salt Lake
City, Utah.
Fed. Req.:
Not available
Section IV - Applications Not Subject to Federal Register Notice
or Newspaper Notice
None
FEDERAL RESERVE BANK OF SAN FRANCISCO
Week ending 6/28/96
Section V - Availability of CRA Public Evaluations
The CRA public evaluations of the institution(s) below became available during this
week. Information about a particular institution’s CRA evaluation may be obtained
directly from the institution.
Institution
Location
Examination Date
Garfield Bank
2417 W. Whittier Blvd.
Montebello, CA 90640-3040
(213) 726-1411
3/04/96
Rating*
Satisfactory
*Under the rating system an institution’s CRA performance is assigned one of the
following four ratings:
Outstandino record of meeting community credit needs:
An institution has an
outstanding record of, and is a leader in, ascertaining and helping to meet the credit
needs of its entire delineated community, including low- and moderate-income
neighborhoods, in a manner consistent with its resources and capabilities.
Satisfactory record of meeting community credit needs:
An institution has a
satisfactory record of ascertaining and meeting the credit needs of its entire
delineated community, including low- and moderate-income neighborhoods, in a manner
consistent with its resources and capabilities.
Needs to Improve record
of meeting community credit needs: An institution needs to
improve its overall record of ascertaining and helping to meet the credit needs of its
entire delineated community, including low- to moderate-income neighborhoods, in a
manner consistent with its resources and capabilities.
Substantial Noncompliance in meeting community credit needs:
An institution has a
substantially deficient record of ascertaining and helping to meet the credit needs of
its entire delineated community, including low- to moderate-income neighborhoods, in
a manner consistent with its resources and capabilities.
The above listing has been prepared as a courtesy by the Federal Reserve Bank of San
Francisco, and is not intended to replace formal notices required by statute or
regulation; the Reserve Bank assumes no responsibility for errors or omissions.
@FedFRASER