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ANNOUNCEMENT LIBRARY BOARD OF GOVERNORS OF THE FEDERAL RESERVE OTBTQ1 ... H.2, 1989, No. 22 Actions of the Board, its Staff, and the Federal Reserve Banks; ^Applications and Reports Received ^ 56 rtf! Dlaring the Week Ending June 3, 1989. ~r -:?:RVE ACTIONS TAKEN BY THE BOMlX foPFGOMEtt&t>ft$D TESTIMONY AND STATEMENTS Flood insurance requirements of State member banks relative to mortgage activities — statement by Glen Loney, Assistant Director, Division of Consumer and Community Affairs before the Subcommittee on Policy Research and Insurance of the House Committee on Banking, Finance and Urban Affairs, May 31, 1989. Published, May 31, 1989. International debt of developing countries — interagency report to the Congress, Survey on Developing Country Lending Profitability. Published, May 30, 1989. BANK HOLDING COMPANIES CB&T Financial Corporation, Fairmont, West Virginia — to merge with Consolidated Banc Shares, Inc., Clarksburg, West Virginia, and acquire Lowndes Bank. Approved, May 31, 1989. MidAmerican Corporation, Shawnee Mission, Kansas — to merge with Merchants Bancorporation, Topeka, Kansas, and acquire Merchants National Bank, and First National Bank, Lawrence, Kansas. Approved, May 30, 1989. FORMS Dealer Report Forms CFR 2004a, b, c, and d) — extension. Proposed, May 30, 1989. REGULATIONS AND POLICIES Regulation Z — amendments requiring additional disclosure for home equity lines of credit secured by a c o n sumerTs dwelling and placement of limitations on the substantive terms offered by creditors (Docket R-0655). Approved, May 31, 1989. H .2 MAY 28, 1989 PAGE 2 TO JUNE 2, 1989 ACTIONS TAKEN BY THE BOARD OF GOVERNORS RESERVE BANK OPERATIONS Federal Reserve Bank of Atlanta — multi-year strategy to replace existing check reader / sorters and related peripherals with newer equipment. Approved, May 31, 1989. Federal Reserve Bank of Kansas City — to lease central processing unit for the head office. Approved, May 31, 1989. RESERVE BANK SERVICES Federal Reserve Priced Services — revision to method for calculating the private sector adjustment factor (Docket R-0656). Approved, May 31, 1989. SECURITIES REGULATION Commodity Futures Trading Commission — letter to CFTC with attachments concerning proposals on hybrid financial instruments. Approved, May 31, 1989. 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; GC - General Counsel; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC Atlanta Admiralty Bank, Juno Beach, Florida — to establish a branch at 126 Center Street, Jupiter, Florida. Approved, June 1, 1989. Richmond Crestar Bank, Richmond, Virginia — to establish a branch at 3141 Fairview Park Drive, Falls Church, Virginia. Approved, June 1, 1989. Richmond First Bank and Trust Company, Lebanon, Virginia — establish a branch at the intersection of Old Abington Highway, Route 645, and Wallings Road, Bristol, Virginia. Approved, June 1, 1989. to H .2 MAY 28, 1989 PAGE 3 TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC San Francisco Valley Bank of Nevada, Las Vegas, Nevada — to establish a branch at 285 East Main Street, Fernley, Nevada. Approved, May 28, 1989. BANK HOLDING COMPANIES Boston Advisors Bancorp of Boston, Boston, Massachusetts — to acquire Advisors Bank and T r u s t . Withdrawn, June 2, 1989. S t . Louis B o a t m e n Ts Bancshares, Inc., St. Louis, Missouri — to engage in community development activities through B o a t m e n 7s Community Development Corporation. Permitted, June 2, 1989. Dallas Capital Reserves Group, Inc., College Station, Texas -- to acquire Reed, Seymour & Associates, Inc. Returned, June 2, 1989. Chicago Cascade Bancorporation, Inc., Altoona, Iowa, and Wabeno Bancorporation, Inc. — to acquire State Bank of Wabeno, Wabeno, Wisconsin. Returned, June 1, 1989. New York Commercial Bank of Kuwait SAK, Safat, Kuwait — to engage in certain nonbanking activities through CBK America Finance, Inc., Dover, Delaware. Permitted, May 30, 1989. Cleveland Commonwealth Trust Bancorp, Inc., Butler, Kentucky — to acquire Farmers Bank. Approved, May 30, 1989. Philadelphia Continental Bancorporation, Gloucester Township, Laurel Springs, New Jersey — to acquire Continental Bank of New Jersey. Approved, May 31, 1989. Kansas City First McKinley Corporation, Denver, Colorado — to acquire First National Bank in Evanston, Evanston, Wyoming. Approved, May 31, 1989. H .2 MAY 28, 1989 PAGE 4 TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago FSB Bancorp, Inc., Breckenridge, Michigan — to acquire Farmers State Bank of Breckenridge. Approved, May 30, 1989. S t . Louis HNB Bancorp, Inc., Hannibal, Missouri — to acquire the successor by merger to The Hannibal National Bank. Approved, May 30, 1989. Richmond Key Centurion Bancshares, Inc., Charleston, West Virginia, and FNC Acquisition Company, Pikeville, Kentucky — to acquire First National Company. Approved, May 31, 1989. Cleveland Lexington Bancshares, Inc., Lexington, Kentucky — acquire Cardinal Bancshares, Inc. Approved, June 1, 1989. Atlanta Morris State Bancshares, Inc., Dublin, Georgia — acquire Morris State Bank. Approved, May 31, 1989. Philadelphia National Penn Bancshares, Inc., Boyertown, Pennsylvania — to acquire Pennsylvania State Bank, Lemonye, Pennsylvania. Approved, May 30, 1989. Minneapolis State Bancshares, Inc., Fargo, North Dakota — to acquire State Bank of Fargo and First State Bank of West Fargo. Approved, June 2, 1989. to to BANK MERGERS Chicago First Bank / Dixon, Dixon, Illinois — to merge with Lincolnway State Bank, Sterling, Illinois. Approved, May 31, 1989. Chicago First Bank of Stockton / Warren, Stockton, Illinois to merge with First National Bank of Freeport, Freeport, Illinois, and Mount Carroll National Bank, Mount Carroll, Illinois. Approved, May 31, 1989. H.2 MAY 28, 1989 PAGE 5 TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK PREMISES Kansas City First State Bank and Trust Company* Larned* Kansas — investment in bank premises. Approved* May 31* 1989. BANKS, STATE MEMBER Secretary Banco de Ponce* Hato Rey* Puerto Rico — Banco Central of New York* New York. Approved* June 1* 1989. \ CAPITAL STOCK Kansas City to acquire Western Security Holding Company* Ltd.* Omaha* Nebraska — redemption of shares. Approved* May 31* 1989. CHANGE IN BANK CONTROL Atlanta Liberty Holding Company* Pensacola* Florida — in bank control. Permitted* June 2* 1989. Chicago Parker Bank Holding Corporation* Indianapolis* Indiana — change in bank control. Permitted* June 1 * 1989. Kansas City Riverton State Bank Holding Company* Riverton* Wyoming — change in bank control. Permitted* June 2* 1989. change COMPETITIVE FACTORS REPORTS Richmond Cherry River National Bank* Richwood* West Virginia* proposed merger with C.R.N.B. Shares* Inc. — report on competitive factors. Submitted* June 1 * 1989. Atlanta Commercial Bank* Crawford* Georgia* proposed merger with Commercial Interim* Inc.* — report on competitive factors. Submitted* May 31* 1989. H .2 MAY 28, 1989 PAGE 6 TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Atlanta First Bank proposed Company, factors. Submitted, and Trust Company, Fayetteville, Georgia, merger with First Wachovia Acquisition Atlanta, Georgia -- report on competitive May 31, 1989. Richmond First Commercial Bank, Asheville, North Carolina, proposed merger with Interim Bank — report on competitive factors. Submitted, June 2, 1989. Chicago First National Bank of Chicago, Chicago, Illinois, proposed merger with Continental Bank, National Association — report on competitive factors. Submitted, May 31, 1989. San Francisco Security Pacific National Bank, Los Angeles, California, proposed merger with Southwest Bank, Vista, California — report on competitive factors. Submitted, June 1, 1989. Atlanta SouthTrust Bank of Russell County, Phenix City, Alabama, proposed purchase of assets and assumption of the liability to pay deposits made in SouthTrust National Bank — report on competitive factors. Submitted, May 31, 1989. New York Starpointe Savings Bank, Somerset, New Jersey, proposed merger with Dime Interim Savings Bank — report on competitive factors. Submitted, May 31, 1989. EXTENSIONS OF TIME Atlanta First Capital Corporation, Jackson, Mississippi — extension to August 23, 1989, to achieve change in bank c o n t r o l . Granted, June 1, 1989. Dallas HUB Financial Corporation, Lubbock, Texas — extension to June 29, 1989, to acquire City Bank. Granted, May 31, 1989. H.2 M A Y 28, 1989 PAGE 7 TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TINE San Francisco Mineral King Bancorp, Inc., Visalia, California — extension to August 13, 1989, to acquire Mineral King National Bank. Granted, June 1, 1989. San Francisco Security Pacific Corporation, Los Angeles, California — extensions to divest certain properties. Granted, June 2, 1989. Kansas City Chemical Financial Industrial Bank of Westminster. Westminster, Colorado — six m o n t h s ’notice of withdrawal from membership in the Federal Reserve System. Waived, May 30, 1989. Chicago First Bank of Stockton / Warren, Stockton? Illinois — to become a member of the Federal Reserve System. Approved, May 31, 1989. MEMBERSHIP RESERVE BANK OPERATIONS GC Federal Reserve Bank of New York — to act as fiscal agent for proposed issue of bonds by the Inter American Development Bank. Approved, May 31, 1989. RESERVE BANK SERVICES Director, FRBO Federal Reserve Bank of Philadelphia — forward collection check fees. Approved, May 31, 1989. revised H .2 MAY 28, 1989 PAGE 8 ADDITIONS AND CORRECTIONS TO JUNE 2, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Northside Bancshares, Inc., Roswell, Georgia (D/B/A Southern Bank Group, Inc.) — to engage de novo in mortgage lending activities through Southern Mortgage Group, Inc. Permitted, May 15, 1989. Chicago Old Kent Financial Corporation, Grand Rapids, Michigan — to acquire Illinois Valley Bancshares, Inc. Returned, May 26, 1989. COMPETITIVE FACTORS REPORTS San Francisco Wells Fargo Bank, National Association, San Francisco, California, proposed merger with Bank of Paradise, Paradise, California — report on competitive factors. Submitted, May 24, 1989. FEDERAL RESERVE BANK OF BOSTON APPLICATIONS SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date Application NONE SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Corment Period Ending Date Valley Bancorp, Inc., White River Junction, Vermont - 3(a)(1) application to become a bank holding company through the acquisition of Valley Bank, White River Junction, Vermont 06-23-89 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Cortment Period Ending Date NONE SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER OR NEWSPAPER NOTICE Application * NONE *Subject to CKA Federal Reserve Bank of New York Comment Period Ending Date SECTION I Applications Subject to Newspaper ____________ Notice Only__________ None. SECTION II Applications Subject to Both Newspaper and Federal Register Notice The Summit Bancorporation, Summit, New Jersey to acquire 9.9% of the shares of Central Jersey Bancorp, Freehold, New Jersey.1/ 6/30/89 3/ SECTION III Nonbanking Applications (Subject to Federal Register Notice Only) None. SECTION IV Applications Not Involving ______ Public Comment______ None. 1/ 2/ 3/ Subject to provisions of Community Reinvestment Act. Later of dates specified in newspaper and Federal Register notices. Date specified in newspaper notice; a later date may be specified in the Federal Register notice. N/A - Not Available FEDERAL RESERVE BAN K OF PHILADELPHIA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date Bank of Delaware Valley, Fairless Hills, PA 1/ application for membership in the Federal Reserve System, pursuant to Section 9 of the Federal Reserve Act and Section 208.4 of 6/30/89 Regulation H. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date B.M.J. Financial Corp., Bordentown, NJ to 1/ acquire Bank of Delaware Valley (in organization), Fairless Hills, PA, pursuant to Section 3(a)(3) of the Bank Holding Company Act. Newspaper: Federal Register: 6/30/89 N/A** If Meridian Bancorp, Reading, PA to acquire 24.9% of First Commercial Bank of Philadelphia (in organization), Philadelphia, PA, pursuant to Section 3(a)(3) of the Bank Holding Company Act. Newspaper: Federal Register: 7/3/89 N/A* SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Comment Period Ending Date CoreStates Financial Corp., Philadelphia, PA to acquire assets of Shawmut Credit Corp., Boston, MA, pursuant to Section 4(c)(8) of the Bank Holding Company Act. N/A* SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE None. J J Subject to provisions of Community Reinvestment Act. *N/A - not yet available. Ten Independence Mall, Philadelphia, PA 19106-1574, (215) 574-6000 Applications Bulletin For Week Ending June 3, 1989 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING Received application on May 31, 198S from Provident Bank, Cincinnati, Ohio, for permission to establish CBCT branches at the following locations: 1873 Highway 28, Goshen, Ohio; 130 Main Street, Batavia, Ohio; 1865 Queen City Avenue, Cincinnati, Ohio; and 5291 Delhi Pike, Cincinnati, Ohio. * J u n e 12, 1989 SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Received Section 3(a)(5) application on May 31, 1989 from Provident Bancorp, Inc., Cincinnati, Ohio, to acquire Northern Kentucky Trustcorp, Inc., Alexandria, Kentucky. * N - June 29, 1989 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Received Section 4(c)(8) application on May 31, 1989 from Provident Bancorp, Inc., Cincinnati, Ohio, to acquire Northern Kentucky Financial Corporation, Florence, Kentucky, a wholly-owned non-banking subsidiary of Northern Kentucky Trustcorp, Inc., Alexandria, Kentucky. Not Yet Known # * - S u b j e c t to CRA # - E x p e c t e d to end a p p r o x i m a t e l y 30 days f r o m the d a t e of r e c e i p t N - N e w s p a p e r C o m m e n t Per i o d F - Federal Register Comment Period Applications Bulletin For Week Ending June 3, 1989 Received Section 4(c)(8) application on June 1, 1989 from National City Corporation, Cleveland, Ohio, to acquire Shawmut Mortgage Corporation, Miamisburg, Ohio. Not Yet Known # SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Received request on May 30, 1909 from Wheeling Dollar Bank, Wheeling, West Virginia, to exceed its limit of investment in bank premises permitted under Section 24A of the Federal Reserve Act. * - S u b j e c t to CRA # - E x p e c t e d to end a p p r o x i m a t e l y 30 days fro the date of r e c e i p t N - N e w s p a p e r C o m m e n t Pe r i o d F - Federal Register Comment Period Federal Reserve Bank of Richmond Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Crestar Bank, Richmond, Virginia, for prior approval to acquire the assets and assume the liabilities of Mountain National Bank of Clifton Forge, Clifton Forge, Virginia.* 6-26-89 Central Fidelity Bank, Richmond, Virginia, request for permission to establish a branch at 701-A North Battlefield Boulevard, Chesapeake, Virginia.* 6-30-89 Central Fidelity Bank, Richmond, Virginia, request for permission to establish a branch on U. S. Route 17, Hayes, Virginia.* 6-30-89 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date None Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date None Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None *Application is subject to CRA. June 5, 1989 Federal Reserve Bank of Atlanta Applications Bulletin Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Central Bank Miami, Florida To establish a branch at 111 N.W. 183 Street, Miami, Florida, to be known as the Washington Square Office. Citizens Trust Bank 06-15-89 (CPA) Atlanta, Georgia To establish a branch at 3030 Headline Drive (Kroger Store #242), Atlanta, Georgia, to be known as the Kroger store #242 Office. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comnent Period Ending Date FBC Holding Company, Inc. 06-23-89 Crestview, Florida Federal Register 1-BHC formation, First Bank of Crestview, Crestview, Florida. First Tampa Bancorporation of Florida, Inc. Tampa, Florida 1-BHC formation, Regency Bank of Tampa, Tampa, Florida (member bank). Florida Westcoast Banks, Inc. 06-09-89 Venice, Florida Newspaper Change in control by Raymond E. Mason, J r . , to retain 19 percent and to acquire an additional 6 percent of the outstanding shares of common stock that will increase his total percentage ownership to 25 percent. Bryan Bancorp of Georgia, Inc. Richmond Hill, Georgia 1-BHC formation, Bryan Bank & Trust, Richmond Hill, Georgia. Southeast Mississippi Corporation 06-14-89 Quitman, Mississippi Federal Register & Newspaper Change in control by The Paul E. Broadhead Revocable Trust, C. Dennis Goldman, Trustee, to acquire 45,575 shares (99.59 percent) of the outstanding shares of cannon stock. June 5, 1989 Federal Reserve Bank of Atlanta Applications Bulletin Section III - Applications Subject to Federal Register Notice Only Application Coinnent Period Ending Date 06-09-89 Dadeland Bancshares, Inc. Federal Register Miami, Florida Joint venture with Dadeland Bank, Miami, Florida (member bank), and Community Bank of Homestead, Homestead, Florida, to retain shares of Financial Processors, Inc., Miami, Florida, and continue engaging in data processing activities, pursuant to section 225.25(b)(7) of Regulation Y (after-the-fact). Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application First Burke Banking C o m p a n y Waynesboro, Georgia To redeem 4,349 shares of its outstanding common stock. Magnolia State Capital Corporation Magee, Mississippi Canmitment waiver request. Federal Reserve Bank of Chicago Section I - Applications Subject to Newspaper Notice Only Comment Period Ending Date Txee Application Branch First of America Bank-Northern Michigan N - 6-17-89 Cheboygan, Michigan First of America Bank - Grand Traverse, National Association Traverse City, Michigan Branches - 522 Railroad Street, Traverse City, Michigan - 1057 East Front Street, Traverse City, Michigan - 1747 S. Benzie Highway, Benzonia, Michigan - 10561 South U.S. 31, Elk Rapids, Michigan* EFT Isabella Bank and Trust N Mount Pleasant, Michigan Student Book Exchange, 209 E. Bellows Street Mount Pleasant, Michigan* - ** Branch 24A The Friendship State Bank Friendship, Indiana 12933 Lenover St. Dillsboro, Indiana* - ** N Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type Application Y-l SBK Bancshares, Inc. Riel, Wisconsin State Bank of Kiel Kiel, Wisconsin* N - 6-12-89 F R - ** Y-2 Marshall & Ilsley Corporation M i l w a u k e e , Wisconsin First National Bank of Cudahy Cudahy, Wisconsin* N - 6-5-89 F R - 5-31-89 Y-2 Cascade Bancorporation, Inc • Altoona, Iowa Wabeno Bancorporation, Inc • Altoona, Iowa State Bank of Wabeno Wabeno, Wisconsin* N - ** FR - 6-8-89 Section II - Applications Subject to Both Newspaper and Federal Register Notice (continued) Comment Period Ending Date Type Application Y-l Wabeno Bancorporation, Inc. Alto o n a , Iowa State Bank of Wabeno Wabeno, Wisconsin* N - ** FR - 6-8-89 CoC-HC B.O.Y. Bancorp, Inc. Yorkville, Illinois Yorkville Profit Sharing Plan & Trust J. Hall & J. Hanson-Beneficiary; James Hall & Jerald Hanson-Personally N - ** FR - 6-14-89 Y-l State Savings Bancorp, Inc. Caro, Michigan State Savings Bank of Caro Caro, Michigan* N - ** FR - 6-21-89 Y-2 Citizens National Bancorporation Charles City, Iowa First Clarion Bancorporation Clarion, Iowa The First National Bank of Clarion Clarion, Iowa* N - 6-26-89 FR - ** Y-2 Pinnacle Banc Group, Inc. Oak Brook, Illinois SBH Corp., Silvis, Illinois Bank of Silvis, Silvis, Illinois* N - 6-19-89 FR - ** Y-l Northwest Acquisition Corp. N - ** Chicago, Illinois FR - ** Northwest Financial Corp., Chicago, Illinois The National Security Bank of Chicago Chicago, 111inois* Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Type Application 4(c)(8) First Midwest Bancorp, Inc, FR - 6-9-89 Naperville, Illinois De novo fiduciary activities thru First Midwest Bank/ Central Region, National Association 4(c)(8) Central-State Bancorp, Inc. Frankfort, Michigan Central State Leasing, Inc. Frankfort, Michigan FR - 6-9-89 4(c)(8) Merchants National Corporation Indianapolis, Indiana To issue and sell travelers checks FR - ** Section IV - Applications Not Subject to Federal Register Notice Or Newspaper Notice Type Application None N - Newspaper FR - Federal Register * - Subject to Provisions of Community Reinvestment Act ** - Not available at this time Federal Reserve Bank of St. Louis SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Comment Period Ending Date Change in control notification by Reelfoot Bank Employee Stock Ownership Plan, Union City, Tennessee, to retain ownership of 20.92 percent of Reelfoot Bancshares, Inc., Union City, Tennessee (Not available) SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER Section 4(c)(8) notification by Mercantile Bancorporation Inc., St. Louis, Missouri, to engage de novo in community development activities through an investment in St. Louis Equity Fund 1988 Partnership, St. Louis, Missouri (Not available) SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE None. FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to _______ Newspaper Notice Only_______ Comment Period Ending Date Application North Shore Bank of Commerce Duluth, MN To establish a branch at 1600 Miller Trunk Highway, Duluth, MN. Not yet available Farmers and Merchants Bank Huron, SD To establish a branch in Yank ton, SD Not yet available Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date Gail K. Mathisen To acquire 100% of St. James Bancorp. Inc., Chanhassen, MN Not yet available Teton Bancshares, Inc. Fairfield, MT To acquire 19.94% of the voting shares of the Choteau Bancorporation Inc., Choteau, MT Not yet available Jim E. Johnson, Sandra L. Johnson, Michael W. Johnson, and Mtichell W. Johnson to each acquire contol of 19.94% of the voting shares of Choteau Bancorporation, Inc., Choteau, MT Not yet available Litchville State Bank Holding Company Litchville, ND To become a bank holding company through the acquisition of 100% of the voting shares of the Litchville State Bank, Litchville, ND ^Subject to CRA 6-24-89 (newspaper) FEDERAL RESERVE BANK OF MINNEAPOLIS Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Application Otto Bremer Foundation St. Paul, MN Bremer Financial Corporation St. Paul, MN To engage die novo in making and servicing lonas to the Bremer Financial Corporation Employee Stock Ownership Plan and Trust. Not yet available Norwest Corporation Minneapolis, MN To engage de novo through Norwest Investment Services, Inc., in the following activities 1) Underwriting and dealing in obligations that national banks are authorized to deal in; 2) Underwriting and dealing to a limited extent in certain securities national banks are ineligible to deal in; 3) Full service retail brokerage; 4) Providing private placement services; 5) Purchasing and selling precious metals and coins for the account of customers; and 6) Acting as a futures commission merchant. Not yet available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application Choteau Bancorporation, Inc., Choteau, MT To redeem 16.85% of its voting shares. Farmers and Merchants Financial Services, Inc. St. Paul, MN To redeem 27% of its voting shares. Federal Reserve Bank of Kansas City SECTION I ~ APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION C OMMENT PERIOD ENDING DATE None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION C OMMENT PERIOD ENDING DATE Ri c k L. C a r u t h e r s , R o n a l d R. H a d w i g e r , L a r r y H a m m e r , Lyle H a w k i n s , and Earl W. Morg a n , all of C h e r o k e e , O k l a h o m a , and O r v e l H. F e l l e r s and R a y N. Smith, bo t h of Bryon, O k l a h o m a , for a p p r o v a l as a g r o u p to r e t a i n their p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t in F a r m e r s E x c h a n g e B a n c o r p o r a t i o n , Inc., C h e r o k e e , O k l a h o m a , of 84.7 percent. Not Available A m e r i c a n B a n c o r p of P o n c a City, Inc., P o n c a City, O k l a h o m a , for p r i o r a p p r o v a l to b e c o m e a bank h o l d i n g c o m p a n y t h r o u g h the a c q u i s i t i o n of 100 p e r c e n t of the v o t i n g s h a r e s of A m e r i c a n N a t i o n a l Bank, P o n c a City, O k l a h o m a . * Not Avai l a b l e C l a r k e , Inc., C e n t r a l City, N e b r a s k a , for p r i o r a p p r o v a l to a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of M i d l a n d s B a n c o r p , Inc., P a p i l l i o n , N e b r a s k a , p a r e n t of Bank of the M i d l a n d s , P a p i l l i o n , Nebraska.* Not A v a i l a b l e T h e F a r m e r s S t a t e Ban k of Fo r t Morgan Employee Stock Ownership Plan, F o r t Mor g a n , C o l o r a d o , for a p p r o v a l to r e t a i n its p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t in The F a r m e r s S t a t e Ban k of Fort M o r g a n , F o r t M o r g a n , C o l o r a d o , of 24.9 perc e n t . Not Available Federal Reserve Bank of Kansas City M i c h a e l W. a n d / o r Shar o n L. C a h o o n e , E l m d a l e f Kansas, for pri o r a p p r o v a l to in c r e a s e their p r o p o r t i o n a t e o w n e r s h i p in t e r e s t in E l m d a l e B a n k s h a r e s , Inc., Elmdale, K a n s a s , by 3 8 . 3 8 per c e n t to 45.00 percent. J u n e 6, 1989 B a r b a r a S. and/or N i c h o l a s L. S h e l b y , B e t h a n y , Missouri, for a p p r o v a l to r e t a i n their p r o p o r t i o n a t e o w n e r s h i p i n te r e s t in H a r r i s o n C o u n t y Bancshares, Inc., B e t h a n y , M i s s o u r i , of 20.56 percent. J u n e 6, 1989 A b b o t t B a n k Group, Inc., All i a n c e , N e b r a s k a , for prior approval to a c q u i r e a n d m e r g e with B r i d g e p o r t B a n s h a r e s , Inc., Bridgeport, N e b r a s k a , p a r e n t of The Ab b o t t Bank, B r i d g e p o r t , Nebraska; H e m i n g f o r d B a n s h a r e s , Inc., H e m i n g f o r d , N e b r a s k a , parent of T h e A b b o t t Bank, Hemingford, Nebraska; a n d H y a n n i s Bans h a r e s , Inc., H y a n n i s , N e b r a s k a , p a rent of T he A b b o t t Bank, Hyannis, N e b r a s k a . * Jun e 16, 1989 C o m m e r c i a l Bank s t o c k , Inc., O k l a h o m a City, Oklahoma, for p r i o r a p p r o v a l to a c q u i r e and m e r g e w i t h M e r c a n t i l e B a ncorp, Inc., Moore, O k l a h o m a , p a r e n t of M e r c a n t i l e Ba n k , N.A., Moore, O k l a h o m a . * J u n e 16, 1989 M i s s i o n B a n c s h a r e s , Inc., Mi s sion, K a n s a s , for prior approval to m e r g e w i t h One S e c u r i t y , Inc., p a r e n t of S e c u r i t y B a n k of Kansas City, and I n d u s t r i a l Bancshares, Inc., p a r e n t of I n d u s t r i a l State Bank, all of K a n s a s City, Kansas; and for pri o r a p p r o v a l to a c q u i r e 7.19 p e r c e n t of t h e v o t i n g shares of CNB Fin a n c i a l C o r p o r a t i o n , K a nsas City, K a n s a s . * J u n e 21, 1989 Federal Reserve Bank o f Kansas City V a l l e y V i e w B a n c s h a r e s , Inc., O v e r l a n d Park, K a n s a s , for p r i o r a p p r o v a l to a c q u i r e an a d d i t i o n a l 1 0 . 7 p e r c e n t of n o n v o t i n g s h a r e s of M i s s i o n B a n c s h a r e s , Inc., Mi s s i o n , K a n s a s .* J u n e 21, 1 9 8 9 J e r r y G. Ja c k s o n , Trust, Sti gler, O k l a h o m a , for p r i o r a p p r o v a l to a c q u i r e a 100 p e r c e n t o w n e r s h i p i n t e r e s t in S t i g l e r B a n c o r p o r a t i o n , S t i g l e r , Okl a h o m a . J u n e 15, 1989 H. D a l e Mar t i n , H i a w a t h a , Kan s a s , for prior a p p r o v a l to i n c r e a s e his p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t in Nebraska National Corporation, O m a h a , N e b r a s k a , by 10.5 p e r c e n t to 16. 0 percent. J u n e 15, 1989 E d w i n F. W a m b s g a n s s , L o n g m o n t , C o l o r a d o , for prior a p p r o v a l to i n c r e a s e his p r o p o r t i o n a t e o w n e r s h i p i n t e r e s t in G r e e n M o u n t a i n B a n c o r p o r a t i o n , Inc., L a k e w o o d , C o l o r a d o , b y 2.12 p e r c e n t t o 23.97 p e r c e n t . J u n e 15, 1 9 8 9 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION COMMENT PER I O D ENDING DATE None. SECTION IV - APPLICATIONS NOT SOBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION N o ne. ♦ A p p l i c a t i o n is s u b j e c t to CRA. FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF MAY 29, 1989 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION ** NOTICE EXP Change in Control Notice by Lowell M. Irby; William M. Siegenthaler; Loy G. Fletcher; John T. Jackson, Jr.; James E. Guy, Artesia, NM; M. Greg Anesi, Farmington, NM; and Western Bank, Artesia, NM to acquire an interest in Western Bancshares of New Mexico, Inc., Artesia, NM (Resubmission) 89/06/20 Change in Control Notice by William 0. Vaughan; William B. Vaughan; Earl D. Bellamy; J. W. Harrison; W. W. ''Chip" Harper; David W. Glass; and Curtis Fendle.y, Paris, TX to acquire an interest in Executive Bancshares, Inc., Paris, TX N/A Change in Control Notice by Joseph S. Bracewell, Washington, !). C. to acquire an interest in First University Corporation, Houston, TX N/A SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION NOTICE EXP None. 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. FEDERAL RESERVE BANK OF SAN FRANCISCO Week ending 6/02/89 Section I - Applications Subject to Newspaper Notice Only Ap d I ication Comment Period Ending Date Humboldt Bank (In Organization), Humboldt, California, to become a member of the Federal Reserve System. Newspaper: Not available Section II - Applications Sub.iect to Both Newspaper and Federal Register Notice Salinas Valley Bancorp, Salinas, California, to become a bank holding company through the acquisition of Bank of Salinas, Salinas, California. BankAmerica Corporation, San Francisco, California, to acquire Nevada First Development Corporation, Reno, Nevada. Ernest L. Go, Hillsborough, California, to: 1) retroactively increase ownership from 14.5 to 17.99 percent, and 2) increase ownership up to 24.9 percent of Orient Bancorporation, San Francisco, California. Ventura County National Bancorp, Oxnard, California, to acquire Frontier Bank, N.A., LaPalma, California. Fed. Rea.: 6/14/89 Newspaper: Not available Fed. Rea.: 6/23/89 Newspaper: 6/23/89 Fed. Rea.: 6/14/89 Newspaper: Not available Fed. Rea.: 6/29/89 Newspaper: 6/29/89 Section III - Applications Sub.iect to Federal Reaister Notice Onlv Puget Sound Bancorp, Tacoma, Washington, to engage de novo in community development activities. Fed. Rea.: 6/23/89 Security Pacific Corporation, Los Angeles, California, to acquire certain assets of the Home and Recreation Financial Services division of GE Capital Corporation. Fed. Rea.: 6/29/89 Vineyard National Bancorp, Rancho Cucamonga, California, to engage de novo in escrow services through Vineyard Escrow Company, Rancho Cucamonga, California. Fed. Rea.: 6/23/89 Section IV •- ADDlications Not Subject to Federal Reqister Notice or NewsDaper Notice None * Subject to CRA.
@FedFRASER