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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
H.2, 1984 No. 23
Actions of the Board; Applications and Reports
Received During the Week Ending June 9, 1984
APPLICABLE
RESERVE BANK
ACTIONS OF THE BOARD
Statement by Governor Lyle E. Gramley, before the Sub
committee on Domestic Monetary Policy of the House
Banking Committee to present the views of the Federal
Reserve Board on the behavior of interest rates this
year.
Statement by President Karen N. Horn, Federal Reserve Bank
of Cleveland, before the Subcommittee on Domestic
Monetary Policy of the House Banking Committee to
discuss issues that will have a major effect upon
national economic performance.
Extension of the comment period on proposals to reduce
risk on large-dollar transfer systems; comments must
be received by October 29, 1984. (Docket No. R-0515)
Request for nominations of qualified individuals for nine
appointments to the Federal Reserve Board's Consumer
Advisory Council.
Over-the-Counter stocks, revised list published, effective
June 18, 1984.
Boston
Grand Bank, National Association, Marbelhead, Massachusetts,
proposal to merge with the National Grand Bank of Marblehead,
Marblehead, Massachusetts; report transmitted to the
Comptroller of the Currency on competitive factors. ]_/
Boston
First and Ocean Bank, National Association, Newburyport,
Newburyport, Massachusetts, proposal to merge with
First and Ocean National Bank of Newburyport, Massachusetts;
report transmitted to the Comptroller of the Currency
on competitive factors. ]_/
T7
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 2 ACTIONS OF THE BOARD - Continued
Philadelphia
NCB Financial Corporation, Williamsport, Pennsylvania,
extension of time until September 1, 1984, within which
to consummate the formation of Northern Central Life
Insurance Company. ]_/
Richmond
Bank of Bethune, Bethune, South Carolina, proposed
acquisition of assets and assumption of liabilities of
the McBee Branch of First National Bank of South Carolina,
Columbia, South Carolina; report transmitted to the
Federal Deposit Insurance Corporation on competitive
factors. ]_/
Richmond
Concord National Bank, Concord, North Carolina, proposed
merger with Citizens National Bank of Concord, Concord,
North Carolina; report transmitted to the Comptroller
of the Currency on competitive factors. ]_/
Atlanta
Termination of registration under Regulation G for C.I.T.
Corporation, Livingston, New Jersey. J /
Atlanta
State Bank of Kingsland, Kingsland, Georgia, proposed
merger with Kingsland Investment Corporation, Kingsland,
Georgia; report transmitted to the Federal Deposit
Insurance Corporation on competitive factors. 1/
Atlanta
Hancock Bank, Gulfport, Mississippi, proposed merger with
Hancock Interim Bank, Gulfport, Mississippi; report
transmitted to the Federal Deposit Insurance Corporation
on competitive factors. J_/
Chicago
Port Byron State Bank, Port Byron, Illinois, to invest in bank
premises. J_/
Chicago
Northtown Bank of Decatur, Decatur, Illinois, proposal to
merge with NBD Bank, Decatur, Illinois, under the charter
of NBD Bank and title of Northtown Bank & Trust; report
transmitted to the Federal Deposit Insurance Corporation. _]_/
Chicago
SBC Banc, Croswell, Michigan, proposal to merge with State
Bank of Croswell, Croswell, Michigan, under the charter
and title of State Bank of Croswell; report transmitted
to the Federal Deposit Insurance Corporation on competitive
factors. J_/
Chicago
LaSalle Bancorp, Inc., La Salle, Illinois, extension of
time until July 31, 1984, within which to become a bank
holding company through the acquisition of La Salle
National Bank, La Salle, Illinois. 1/
T7
Application processed on behalf of the Board of Governors under
delegated authority.
- 3 -
H.2, 1984 No. 23
ACTIONS OF THE BOARD - Continued
Chicago
Angola Bancorporation, Inc., Angola, Indiana, extension
of time until July 27, 1984, within which to become a
bank holding company through the acquisition of First
National Bank of Angola, Angola, Indiana. J_/
Chicago
Illini Community Bancorp, Inc., Springfield, Illinois,
extension of time until September 12, 1984, within which
to become a bank holding company through the acquisition
of First State Bank & Trust Company of Springfield,
Springfield; Mechanicsburg Citizens Bank, Mechanicsburg;
American State Bank of Springfield, Springfield; Community
Bank of Divernon, Divernon; and Stonington Community Bank,
Stonington, all in Illinois. ]_/
Chicago
M
St. Louis
South Central Illinois Bancorp., Inc., Effingham, Illinois,
extension of time until October 1, 1984, within which to
become a bank holding company through the acquisition of
the successor by merger to the First National Bank of
Effingham, Effingham, Illinois. ]_/
St. Louis
County Bancorporation, Inc., Jackson, Missouri, additional
extension of time until September 8, 1984, within which
to become a bank holding company through the acquisition
of the successor by merger to Cape County Bank, Jackson,
Mi ssouri. J_/
St. Louis
First National Bank of West Point, West Point, Mississippi,
proposal to merge.with First National Interim Bank,
West Point, Mississippi; report transmitted to the Comp
troller of the Currency on competitive factors. 1/
Kansas City
Citizens State Bank of Virginia, Virginia, Nebraska,
application to merge with Lewiston Cooperative Credit
Association, Lewiston, Nebraska, and to operate under
the charter and the title of Citizens State Bank of
Virginia, Virginia, Nebraska; report transmitted to the
Federal Deposit Insurance Corporation on competitive
factors. 1/
TJ
& I Marshall & Ilsley Bank, Milwaukee, Wisconsin, extension
of time to December 2, 1984, within which to establish a
branch office at 7139 North Port Washington Road, Glendale,
Wisconsin. V
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 4 ACTIONS OF THE BOARD - Continued
Kansas City
Gateway Bank and Trust Company, Lincoln, Nebraska,
application to merge with United Gateway Bank and
Trust Company, Lincoln, Nebraska, and to operate under
the charter and title of Gateway Bank and Trust Company,
Lincoln, Nebraska; report transmitted to the Federal
Deposit Insurance Corporation on competitive factors. ]_/
Kansas City
First Interim National Bank, Wellington, Kansas, application
to merge with First National Bank in Wellington, Wellington,
Kansas, and to operate under the charter and title of
First National Bank in Wellington, Wellington, Kansas;
report transmitted to the Comptroller of the Currency on
competitive factors. J_/
Kansas City
First Latimer Corporation, Wilburton, Oklahoma, extension
of time to August 5, 1984, within which to consummate the
acquisition of Latimer State Bank, Wilburton, Oklahoma. 1/
Kansas City
Citizens Bank of Glendale, Glendale, Colorado, a proposed
new bank, extension of time until August 30, 1984, within
which to accomplish membership. ]_/
Dallas
Rusk County Bancshares, Inc., Henderson, Texas, extension
of time to August 21, 1984, within which to consummate
the acquisition of Peoples State Bank, Henderson, Texas. J_/
Dallas
First National Bank of San Marcos, San Marcos, Texas, proposed
merger with New San Marcos Bank, San Marcos, Texas; report
transmitted to the Federal Deposit Insurance Corporation
on competitive factors. ]_/
Dallas
Security State Bank, Littlefield, Texas, proposed merger
with New Littlefield, Littlefield, Texas; report trans
mitted to the Federal Deposit Insurance Corporation on
competitive factors. \J
Dallas
First National Bank of Georgetown, Georgetown, Texas,
proposal to merge with New Georgetown Bank, Georgetown,
Texas; report transmitted to the Federal Deposit Insurance
Corporation on competitive factors. V
Dallas
Muleshoe State Bank, Muleshoe, Texas, proposal to merge
with New Muleshoe Bank, Muleshoe, Texas; report trans
mitted to the Federal Deposit Insurance Corporation on
competitive factors, J /
!_/ Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 5 ACTIONS OF THE BOARD - Continued
San
Francisco
T7
Deregistration under Regulation G for GECC Financial
Corporation, Honolulu, Hawaii. ]J
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 6 ACTIONS OF THE BOARD - Continued
To Establish a Domestic Branch Pursuant
to Section 9 of the Federal Reserve Act
Philadelphia
Approved
Girard Bank, Bala-Cynwyd, Pennsylvania. To establish a
branch office to be located at Whitman Plaza, 3rd
Street and Oregon Ave., Philadelphia, Pennsylvania. J_/
Richmond
Bruceton Bank, Bruceton Mills, West Virginia. To establish
a branch at 390 East Main Street, Kingwood, West Virginia.
Richmond
Farmers and Merchants Bank of Summersvi11e, Summersvilie,
West Virginia. To establish a branch at State Route 20,
South, Craigsville, West Virginia. _}_/
Chicago
Comerica Bank - Detroit, Detroit, Michigan. To establish
an EFT at American Motors Building, 14250 Plymouth Road,
Detroit, Michigan. 1/
* * * * *
To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Phil adelphi a
Approved
Marine Midland Bank Delaware, Wilmington, Delaware. 1/
* * * * *
Issued Intent Not to Disapprove Change of Control
Pursuant to Change in Bank Control Act of 1978
Kansas City
Not Disapproved
Midland Bancor, Inc., Lee's Summit, Missouri, j_/
Kansas City
Berbanc, Inc., Gypsum, Kansas. 1/
* * * * *
1_/
Application processed on behalf of the Board of Governors under
delegated authority.
- 7 -
H.2, 1984 No. 23
ACTIONS OF THE BOARD - Continued
Applications and Notifications for International
Investments and Other Actions Pursuant to Sections 25 and 25(a)
of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14)
__________of the Bank Holding Company Act of 1956, as amended___________
New York
New York
San
Francisco
Approved
Bank of Oman Overseas (USA) Inc., New York, New York:
grants consent to amend Article SEVENTH of its
Articles of Association to reduce the amount of its
capital stock.
Sixty-Day Notification Period Allowed to Expire
Manufacturers Hanover Trust Company, New York, New York:
no objection to establish an initial branch in Lisbon,
Portugal.
Security Pacific Corporation, Los Angeles, California: no
objection to acquire 100 percent of Wifag-Bank A.G., a
German banking company.
*
★
*
★
*
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Kansas City
New York
Philadelphia
1/
Returned
Central Bank Shares, Inc., Cheyenne, Wyoming, for approval
to acquire 100 percent of the voting shares of American
National Bank of Riverton, Riverton, Wyoming.
Approved
C.Y. Tung & Sons Co., Inc., Hong Kong, B.C.C., for approval
to acquire by increasing from approximatley 24 percent
to 48 percent its ownership of the voting shares of
Global Bancorporation, New York, New York, and indirectly
Global Union Bank, New York, New York.
National American Bancorp, Inc., Towanda, Pennsylvania,
for approval to acquire 100 percent of the voting shares
of The First National Bank of Bradford County, Towanda,
Pennsylvania. 1/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 8 ACTIONS OF THE BOARD - Continued
Cleveland
Lewis Bancshares, Inc., Vanceburg, Kentucky, for approval
to acquire 80 percent of the voting shares of First
National Bank of Lewis County, Vanceburg, Kentucky. 1/
Cleveland
Marie R. Turner Holding Company, Jackson, Kentucky, for
approval to acquire at least 80 percent of the voting
shares of Citizens Bank of Jackson, Jackson, Kentucky. 1/
Richmond
Consolidated Banc Shares, Inc., Clarksburg, West Virginia,
for approval to acquire 100 percent of the voting shares
of the successor by merger to The Lowndes Bank, Clarks
burg, West Virginia. \J
Richmond
Harvest Bancorp, Inc., Hamilton, Virginia, for approval
to acquire 100 percent of the voting shares of the
successor by merger to Farmers and Merchants National
Bank of Hamilton, Hamilton, Virginia. ]_/
Atlanta
Jamestown Union Bancshares, Inc., Jamestown, Tennessee, for
approval to acquire 100 percent of the voting shares of
Union Bank, Jamestown, Tennessee. ]_/
Chicago
Community Bancorp, Royal Center, Indiana, for approval to
acquire 80 percent or more of the voting shares of
Community State Bank, Royal Center, Indiana. 1/
Chicago
L
& W, Inc., Portsmouth, Iowa, for approval to acquire 80
percent of the voting shares of State Bank of Ports
mouth, Portsmouth, Iowa. J_/
Chicago
Merchants Republic Corp., Terre Haute, Indiana, for approval
to acquire 100 percent of the voting shares of The Mer
chants National Bank of Terre Haute, Terre Haute, Indiana. 1/
Kansas City
Financial and Property management, Inc., Emporia, Kansas,
for approval to acquire an additional 27.67 percent of
the voting common shares of Educators Investment Company
of Kansas, Inc., Emporia, Kansas and indirectly acquire
Citizens National Bank and Trust Company, Emporia, Kansas. 1/
Kansas City
Lamar Trust Bancshares, Inc., Lamar, Missouri, for approval
to acquire 81.07 percent of the voting shares of Lamar
Trust Company, Lamar, Missouri. J /
1/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 8A ACTIONS OF THE BOARD - Continued
Dallas
Mercantile Southwest Financial Corporation, Wilmington,
Delaware, for approval to acquire 100 percent of the
voting shares of Mercantile Texas Corporation,
Dallas, Texas and indirectly, Abilene National Bank,
Abilene, Texas; American National Bank of Austin,
Austin, Texas; American Bank North, N.A., Austin,
Texas; Corpus Christi National Bank, Corpus Christi,
Texas; Mercantile Bank Corsicana, N.A., Corsicana,
Texas; Mercantile Bank Lincoln Centre, N.A., Dallas,
Texas; Mercantile National Bank at Dallas, Dallas,
Texas; State National - Bassett Bank, El Paso, Texas;
State National - Franklin Bank, El Paso, Texas; State
National Bank of El Paso, El Paso, Texas; State
National Bank West of El Paso, El Paso, Texas; State
National Bank - Vista Hills, El Paso, Texas; Mercantile
Bank Garland, Garland, Texas; Mercantile Bank Grand
Prairie, Grand Prairie, Texas; Mercantile Bank
Greenville, N.A., Greenville, Texas; Ashford Bank,
Houston, Texas; Capital Bank, N.A., Houston, Texas;
Greenway Bank & Trust of Houston, Houston, Texas;
Capital Bank - Gessner, Houston, Texas; Capital
Bank West Loop, N.A., Houston, Texas; Guaranty State
Bank of New Braunfels, New Braunfels, Texas; American
Bank Round Rock, Round Rock, Texas; Alamo Bank North, N.A., San Antonio, Texas; Alamo National Bank,
San Antonio, Texas; Alamo Bank - South, N.A.,
San Antonio, Texas; Merchants and Planters National
Bank, Sherman, Texas; First National Bank Waco, Waco,
Texas; First-Wichita National Bank of Wichita Falls,
Wichita Falls, Texas; South West National Bank of
Wichita Falls, Wichita Falls, Texas and Southwest
Bancshares, Inc., Houston, Texas and indirectly
Arlington Bank of Commerce, Arlington, Texas; Texas
Bank of Beaumont, Beaumont, Texas; First National
Bank of Brenham, Brenham, Texas; Bank of the Southwest
N.A., Brownsville, Texas; Mercantile National Bank
of Corpus Christi, Corpus Christi, Texas; Dallas Bank
and Trust Company, Dallas, Texas; Preston State Bank,
Dallas, Texas; First Denton County National Bank of
Denton, Denton, Texas; First National Bank of Euless,
Euless, Texas; Continental National Bank of Fort
Worth, Fort Worth, Texas; Fort Worth Bank and
Trust, Fort Worth, Texas; American National Bank
of Garland, Garland, Texas; Century Bank and Trust
Company, Garland, Texas; Bank of the Southwest, N.A.,
Harlingen, Texas; Baybrook National Bank, Harris
County, Texas; Bank of the Southwest, N.A., Houston,
Texas; Westchase National Bank, Houston, Texas;
Gulf Freeway National Bank, Houston, Texas; Copperfield
National Bank, Houston, Texas; Bank of San Felipe Green
H.2, 1984 Nb. 23
- 8B ACTIONS OF THE BOARD - Continued
N.A., Houston, Texas; Intercontinental Bank, N.A.,
Houston, Texas; Houston Southwest Bank, Houston,
Texas; Long Point National Bank of Houston, Houston,
Texas; Republic State Bank, Houston, Texas; Village
National Bank, Houston, Texas; Westbury National
Bank, Houston, Texas; Westhollow National Bank,
Houston, Texas; Citizens Bank, Irving, Texas; State
Bank of Kingsville, Kingsville, Texas; Lewisville
National Bank, Lewisville, Texas; First National Bank
of Longview, Longview, Texas; Mansfield State Bank,
Mansfield, Texas; Marshall National Bank, Marshall,
Texas; Bank of the Southwest, N.A., Odessa, Texas;
County National Bank of Orange, Orange, Texas;
First Pasadena State Bank, Pasadena, Texas; First
National Bank of Port Arthur, Port Arthur, Texas;
Sabinal Bank, Sabinal, Texas; San Antonio Bank and
Trust Co., San Antonio, Texas; Woodland National Bank,
The Woodlands, Texas. 1/
H.2, 1984 No. 23
- 9 ACTIONS OF THE BOARD - Continued
San
Francisco
C.Y. Tung Financial Corporation, Hong Kong, B.C.C., and
American Asian Bancorp, San Francisco, California, for
approval to acquire at least 65 percent of the voting
shares of American Asian Bank, San Francisco, California.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
(a)(3) of the Bank Holding Company Act of 1956
Kansas City
Dallas
Boston
Returned
Midland Capital Co., Oklahoma City, Oklahoma, for approval
to acquire 100 percent of the voting shares of ONB Bancshares, Inc., Chickasha, Oklahoma, and to acquire 100
percent of the voting shares of Oklahoma National Bank,
Chickasha, Oklahoma.
San Pedro Bancshares, Inc., San Antonio, Texas, for approval
to acquire 100 percent of the voting shares of Commercial
National Bank, San Antonio, Texas, a proposed new bank.
Approved
Amoskeag Bank Shares, Inc., Manchester, New Hampshire, for
approval to acquire 100 percent of the voting shares of
Bank Meridian, National Association, Hampton, New
Hampshire. ]_/
Ri chmond
American Bankshares, Inc., War, West Virginia, for approval
to acquire 95 percent of the voting shares of First
Clark National Bank, Northfork, West Virginia. ]_/
Atlanta
First National Bancorp, Gainesville, Georgia, for approval
to acquire Granite City Bank, Elberton, Georgia. J_/
Chicago
Citizens Bancorporation, Sheboygan, Wisconsin, for approval
to acquire 80 percent or more of the voting shares of
North Side Bancorp, Inc., Racine, Wisconsin, and thereby
indirectly acquire North Side Bank of Caledonia, Racine,
Wisconsin and North Side Bank, Racine, Wisconsin. ]_/
Kansas City
Sunwest Financial Services, Inc., Albuquerque, New Mexico,
for approval to acquire 100 percent of the voting common
shares of Sunwest Bank of Sandoval County, N.A., Rio
Rancho, New Mexico, a proposed new bank. 1/
T7
Applicati n processed on behalf of the Board of Governors under,
delegated authority.
H.2, 1984 No. 23
10 ACTIONS OF THE BOARD - Continued
Dal las
Iowa Park Bancshares, Inc., Iowa Park, Texas, for approval
to acquire 80 percent of the voting shares of Electra
State Bank and Trust Company, Electra, Texas. _]_/
Dallas
Metropolitan Bancshares, Inc., Dallas, Texas, for approval
to acquire 100 percent of the voting shares of Metropolitan
National Bank-Lewisville, Texas, a proposed new bank. 1/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Dallas
T7
Approved
Mercantile Texas Corporation, Dallas, Texas, for approval
to merge with Southwest Bancshares, Inc., Houston,
Texas and indirectly acquire Arlington Bank of Commerce,
Arlington, Texas; Texas Bank of Beaumont, Beaumont,
Texas; First National Bank of Brenham, Brenham,
Texas; Bank of the Southwest N.A., Brownsville, Texas;
Mercantile National Bank of Corpus Christi, Corpus
Christi, Texas; Dallas Bank and Trust Company, Dallas,
Texas; Preston State Bank, Dallas, Texas; First Denton
County National Bank of Denton, Denton, Texas; First
National Bank of Euless, Euless, Texas; American
National Bank of Garland, Garland, Texas; Century Bank
and Trust Company, Garland, Texas; Bank of the Southwest,
N.A., Harlingen, Texas; Baybrook National Bank, Harris
County, Texas; Bank of the Southwest, N.A., Houston,
Texas; Westchase National Bank, Houston, Texas; Gulf
Freeway National Bank, Houston, Texas; Copperfield
National Bank, Houston, Texas; Bank of San Felipe Green,
N.A., Houston, Texas; Intercontinental Bank, N.A., Houston,
Texas; Houston Southwest Bank, Houston, Texas; Long Point
National Bank of Houston, Houston, Texas; Republic State Bank,
Houston, Texas; Village National Bank, Houston, Texas;
Westbury National Bank, Houston, Texas; Westhollow National
Bank, Houston, Texas; Citizens Bank, Irving, Texas;
State Bank of Kingsville, Kingsville, Texas; Lewisville
National Bank, Lewisville, Texas; First National Bank of
Longview, Longview, Texas; Mansfield State Bank, Mansfield,
Texas; Marshall National Bank, Marshall, Texas; Bank of the
Southwest, N.A., Odessa, Texas; County National Bank of
Orange, Orange, Texas; First Pasadena State Bank, Pasadena,
Texas; First National Bank of Port Arthur, Port Arthur,
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No.
- 11
ACTIONS OF THE BOARD - Continued
Texas; Sabinal Bank, Sabinal, Texas; San Antonio Bank
and Trust Co., San Antonio, Texas; Woodland National
Bank, The Woodlands, Texas, Continental National Bank of
Fort Worth, Fort Worth, Texas and Fort Worth Bank &
Trust Company, Fort Worth, Texas.
★
★
★
★
*
To Expand a Bank Holding Company Pursuant to Section
(c)(8) of the Bank Holding Company Act of 1956
San
Francisco
Atlanta
New York
Philadelphia
V
Returned
BankAmerica Corporation, San Francisco, California, for
approval to engage de novo in consumer lending through
Bank of America, N.TfT, Phoenix, Arizona; Bank of
America, N.A., Dallas, Texas; Bank of America, N.A.,
Miami, Florida; Bank of America, N.A., Atlanta, Georgia;
Bank of America, N.A., Houston, Texas; Bank of America,
N.A., Chicago, Illinois; Bank of America, N.A., Boston,
Massachusetts; Bank of America, N.A., Las Vegas, Nevada;
Bank of America, N.A., Albuquerque, New Mexico; Bank
of America, N.A., New York, New York; Bank of America,
N.A., Portland, Oregon; Bank of America, N.A., Salt
Lake City Utah; and Bank of America, N.A., Washington,
D.C.
Moot
Pan American Banks, Inc., Miami, Florida, for approval
to acquire 100 percent of the voting shares of Central
Agency, Inc., Miami, Florida.
Approved
Citicorp, New York, New York, for approval to engage de novo
through its wholly-owned subsidiary, Citicorp Futures
Corporation, in executing and clearing options on bullion,
foreign exchange, U.S. government securities and money
market instruments, and options on futures in these
commodities and instruments.
First Valley Bancorp, Bethlehem, Pennsylvania, for approval
to acquire Lehigh Securities Corporation, Lehigh County,
Pennsylvania. V
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 23
- 12 ACTIONS OF THE BOARD - Continued
St. Louis
Peoples Investment Corporation, Cuba, Missouri, for approval
to acquire Dorf Insurance Agency, Inc., Cuba, Missouri,
and to engage directly, de novo in the sale of creditlife, credit-health, and credit-accident insurance,
data processing activities, and the leasing of personal
property. ]_/
Kansas City
First National Bankshares of Beloit, Inc., Beloit, Kansas,
for approval to acquire at least 83.93 percent of the
voting shares of First Loan Company, Beloit, Kansas,
and thereby indirectly engage in consumer and commercial
lending activities. J\J
Kansas City
First Oklahoma Bancorporation, Inc., Oklahoma City, Oklahoma,
for approval to acquire indirectly through its subsidiary,
American Mortgage and Investment Company, Oklahoma City,
Oklahoma, 100 percent of the voting common shares of
Holliday Mortgage Corporation, Tulsa, Oklahoma, and
thereby expand the existing mortgage banking activities
of AMICO. ]J
Dallas
Mercantile Texas Corporation, Dallas, Texas, for approval
to acquire Southwest Bancshares Life Insurance Company,
Houston, Texas.
Boston
New York
1/
3/
Denied
Old Stone Corporation, Providence, Rhode Island, for
approval to acquire 100 percent of the voting shares of
First Federal Savings & Loan Association of Catawba County,
Conover, North Carolina.
Permitted
Security New York State Corporation, Rochester, New York,
requests permission to expand the activities to include
the following activities (reinsurance of credit health
and accident insurance issued in connection with
extensions of credit made by its two subsidiary banks,
Security Trust Company and The Mowhawk National Bank)
through its subsidiary, Griffin Life Insurance Company
(6/5/84) 3/
Application processed on behalf of the Board of Governors under
delegated authority.
4(c)(8) notification processed by Reserve Bank on behalf of the
Board of Governors under delegated authority.
H.2, 1984 No
- 13 ACTIONS OF THE BOARD - Continued
Chicago
Heartland Bancorp, Inc., El Paso, Illinois, notification
of intent to engage in de novo activities (in the sale
of credit life and accident and health insurance in
connection with extensions of credit made at its sub
sidiaries; Heartland would be acting as agent in said
sales) all activities would be limited to the State
of Illinois, through its subsidiaries, Woodford
Investment Company, Eureka, Illinois; First Bank of
Eureka, Eureka, Illinois; State Bank of Cornland,
Cornland, Illinois; Bank of Carlock, Carlock, Illinois;
Woodford County Bank, El Paso, Illinois (6/1/84) 3/
Chicago
Marine Bancorp, Inc., Springfield, Illinois, notification
of intent to engage in de novo activities (in reinsuring
of credit life and credit accident and health insurance
issued on loans by affiliates of Marine Bancorp., Inc.)
through its subsidiary, Marine Credit Insurance Company
(6/6/84) 3/
St. Louis
Citizens Fidelity Corporation, Louisville, Kentucky,
notification of intent to expand geographic service area
nationwide for the following activities (processing and
transmission of financial, banking or economic data for
applicant, its subsidiary, unrelated financial institutions
and others, and credit/debit card cardholder and merchant
processing for applicant, its subsidiaries and unrelated
financial institutions) through its subsidiary, CFC
Financial Services, Inc. (6/6/84) 3/
San
Francisco
Security Pacific Corporation, Los Angeles, California,
notification of intent to engage in de novo activities
(underwriting and dealing in obligations of the United
States, general obligations of states and their political
subdivisions, and other obligations that state member
banks of the Federal Reserve System may be authorized to
underwrite and deal in under 12 U.S.C. 24 and 335, including
bankers acceptances and certificates of deposit, under the
same limitations as would be applicable if the activity
were performed by SPC's subsidiary member bank) in
Denver, Colorado, serving the United States, through
its subsidiary, Security Pacific Financial Strategies
Group, Inc. (6/9/84) 3/
★ * ★ * ★
37
4(c)(8) notification processed by Reserve Bank on behalf of the
Board of Governors under delegated authority.
H.2, 1984 No. 23
- 14 ACTIONS OF THE BOARD - Continued
Redemption of Shares
Atlanta
Dawson Bancshares, Inc., Dawson, Georgia. J_/
Minneapolis
Northeast Montana Bank Shares, Inc., Poplar, Montana.
Kansas City
Berbanc, Inc.^ Gypsum, Kansas.
Kansas City
Midland Bancpr, Inc., Lee's Summit, Missouri. J/
T7
\J
Application processed on behalf of the Board of Governors under
delegated authority.
]J
H.2, 1984 No. 23
15 APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Chicago
Villa Park Trust & Savings Bank, Villa Park, Illinois.
To establish a branch facility at 21 W 025 Fullerton,
Lombard, Illinois. 2/
* * * * *
Applications and Notifications for International
Investments and Other Actions Pursuant to Sections 25 and 25(a)
of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13), and 4(c)(14)
___________ of the Bank Holding Company Act of 1956, as Amended___________
New York
Bankers Trust New York Corporation, New York, New York:
prior notification of its intent to establish a de novo
funding vehicle, Bankers Trust Finance N.V., in the
Netherlands Antilles.
New York
Chemco International Inc., New York, New York: prior
notification of its intent to make an additional investment
in Chemco Leasing S.p.A., Milan, Italy.
New York
Citibank, N.A., New York, New York: prior notification of
its intent to continue to hold shares of Grindlays
Industrial Holdings Limited, London, England, after
GIH makes an additional investment in Grindlays Bank
Limited, St. Helier, Jersey.
New York
Citicorp, New York, New York: requests consent to modify
two conditions it imposed in approving Citicorp appli
cations to establish foreign branches in Citicorp Banking
Corporation, Wilmington, Delaware:
(1) to increase the
limitation on liabilities to CBC of any person, other
than an affiliate, from 10 percent of CBC's capital and
surplus to 15 percent, and (2) to increase the limitation
on the aggregate of loans, lease financing receivables,
and customers liablity on acceptances outstanding on the
books of CBC's branches from 15 percent of the branches'
total consolidated assets to 25 percent.
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 23
16
APPLICATIONS RECEIVED - Continued
New York
Morgan Guaranty International Finance Corporation, New
York, New York: prior notification of its intent to
make an additional investment in the shares of Leaseco
Nederland B.V., Amsterdam, The Netherlands.
San
Franci sco
First Pacific Investments Limited, Liberia and First Pacific
Holdings Limited, Hong Kong: request specific consent
to make an additional investment in First Pacific Finance
Limited, Hong Kong.
San
Franci sco
Seattle-First National Bank, Seattle, Washington: prior
notification of its intent to increase the capital of
Seafirst Nominees, Ltd., London, England.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Cleveland
Andover Bancorp, Inc., Andover, Ohio, for approval to
acquire 100 percent of the voting shares of The
Andover Bank, Andover, Ohio. 2/
Chicago
EWN Investments, Inc., Ute, Iowa, for approval to
acquire 95.66 percent of the voting shares of Ute
State Bank, Ute, Iowa. 7J
Chicago
Monticorp Inc., Monticello, Indiana, for approval to
acquire 80 percent or more of the voting shares of
First National Bank of Monticello, Monticello, Indiana. 2/
Chicago
P.T.C. Bancorp, Brookville, Indiana, for approval to
acquire 100 percent of the voting shares of People's
Trust Company, Brookville, Indiana. 2/
St. Louis
Elk Horn Bancshares, Inc., Arkadelphia, Arkansas, for approval
to acquire 80 percent or more of the voting shares of Elk
Horn Bank & Trust Company, Arkadelphia, Arkansas. 2/
St. Louis
First Charter Bancshares, Inc., North Little Rock, Arkansas,
for approval to acquire at least 75 percent of the voting
shares of First State Bank, Beebe, Arkansas. 2/
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 23
17
APPLICATIONS RECEIVED - Continued
St. Louis
United Holdings, Inc., Memphis, Tennessee, for approval
to acquire at least 67 percent of the voting shares of
Bank of Crockett, Bells, Tennessee. 2/
Kansas City
Andover Banc Shares, Inc., Wichita, Kansas, for approval
to acquire 100 percent of the voting shares of National
Bank of Andover, Andover, Kansas, a proposed new bank. 2/
Kansas City
Bancedmond, Inc., Edmond, Oklahoma, for approval to acquire
100 percent of the voting shares of Bank of Edmond, N.A.,
Edmond, Oklahoma, a proposed new bank. 2j
Kansas City
Community Bancshares, Inc., Seneca, Kansas, for approval
to acquire 100 percent of the voting shares of Community
National Bank, Seneca, Kansas, a proposed new bank. 2J
Kansas City
D.N. Bancorp, Inc., Durango, Colorado, for approval to
acquire 100 percent of the voting shares of Durango National
Bank, Durango, Colorado. 2/
Kansas City
Lone Wolf Bancshares, Inc., Lone Wolf, Oklahoma, for
approval to acquire at least 80 percent of the voting
shares of First State Bank, Lone Wolf, Oklahoma. 2/
Dallas
InterContinental Bank Shares Corporation, San Antonio,
Texas, for approval to acquire 100 percent of the voting
shares of Inter-Continental National Bank-Starcrest,
San Antonio, Texas and to acquire 99.9 percent of Inter
Continental National Bank-Lackland, San Antonio, Texas. 2/
Dallas
North Texas American Bancshares, Inc., Denison, Texas, for
approval to acquire 100 percent of the voting shares of
The American Bank.and Trust of Denison, Denison, Texas
and BancTEXAS Sherman, N.A., Sherman, Texas. 2j
San
Francisco
First Intermountain Holding Corp., Salt Lake city, Utah,
for approval to acquire 50.25 percent of the voting shares
of United Bank, Murray, Utah. 2/
* * * * *
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 23
18 APPLICATIONS RECEIVED - Continued
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Philadelphia
The Frankford Corporation, Philadelphia, Pennsylvania, for
approval to acquire 100 percent of the voting shares of
Colonial Savings Bank, Philadelphia, Pennsylvania. 2/
Chicago
Magna Group, Inc., Belleville, Illinois, for approval to
acquire 100 percent of the voting shares of the successor
by merger to Central Illinois Banc Shares, Inc., Springfield,
Illinois and indirectly acquire Capitol Bank & Trust Company
of Springfield, Springfield, Illinois and to acquire 100
percent of the voting shares of the successor by merger
to Millikin Bancshares, Inc., Decatur, Illinois and
indirectly acquire The Millikin National Bank of Decatur,
Decatur, IIlinois. 2/
Chicago
Northwest Illinois Bancorp, Inc., Freeport, Illinois, for
approval to acquire 70 percent of the voting shares of
the Waples and Farmers State Bank, Neponset, Illinois;
to acquire Rock City Bancshares, Inc., Rock City, Illinois
and indirectly acquire 83.77 percent of Rock City Bank,
Rock City, Illinois; to acquire Pecatonica Bancshares,
Inc., Pecatonica, Illinois and indirectly acquire 85.55
percent of Bank of Pecatonica, Pecatonica, Illinois. 2/
Minneapolis
McLeod Bancshares, Inc., Glencoe, Minnesota, for approval
to acquire 100 percent of the voting shares of The First
Bank of Minnesota, Stewart, Minnesota. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Boston
2/
—
RIHT Financial Corporation, Providence, Rhode Island,
notification of intent to engage in de novo activities
((1) continue to provide fiduciary services from a trust
service office located at 405 Eighth Street, South
Naples, Florida and (2) to expand to the entire state
of Florida the geographic area from which it can conduct
fiduciary services; fiduciary services are permitted
pursuant to 12 C.F.R. 225.25b(3)) through its subsidiary,
Hospital Trust of Florida, National Association
(5/30/84)
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 23
19 -
APPLICATIONS RECEIVED - Continued
New York
Chemical New York Corporation, New York, New York,
requests permission to establish a de novo office
and also to expand the service areas of 11 offices of
CMC located in Akron, Ohio; Cincinnati, Ohio; Cleveland,
Ohio; Dayton, Ohio; Pittsburgh, Pennsylvania; Indianapolis,
Indiana; Columbus, Ohio; Atlanta, Georgia; Nashville,
Tennessee; Columbia, South Carolina; and Houston, Texas,
engaging in the following activities ((1) purchasing
home mortgages from savings institutions, savings and
loan institutions and small mortgage companies;
(2) originating, placing, and servicing loans on commercial,
residential and income producing property; (3) acting
as agent with regard to credit accident and health
insurance directly related to CMC's extensions of
credit; (4) making equity investments in corporations
designed to promote community welfare; (5) (a) providing
data processing and data transmission services, data
bases and facilities for the internal operations of
Chemical New York Corporation and any of its subsidiaries;
(b) providing to others data processing and transmission
services, facilities, data bases or access to such
services, facilities or data bases by any technologically
feasible means for financial, banking or economic data;
and (c) providing to others excess capacity and time
sharing on data processing or transmission equipment or
facilities; (6) arranging equity financing of commercial and
industrial income-producing realty subject to the following
limitations:
(a) each such financing shall exceed
$1,000,000, (b) neither CMC nor its affiliates will provide
financing for the equity investor in any parcel of real
estate for which CMC arranges equity financing; (c) neither
CMC nor any of its affiliates will acquire an interest in
or participate in managing, developing, or syndicating
or promoting or sponsoring the syndication of a project
for which it arranges equity financing; and (d) CMC's
fee:
(i) will be determined on a negotiated basis;
(ii) will generally be based on the sales or mortgage
price, and in no case will be determined by the pro
fitability of the property; and (iii) will not be
greater than the fees that would be charged by an
unaffiliated intermediary; (7) providing portfolio
investment advice (particularly advice as to investment
of funds in real property interests); (8) furnishing
general economic information and advice (particularly
advice and studies directly related to real estate and
mortgages); (9) providing financial advice to state
and local governments with respect to the issuance of
their securities (particularly regarding the issuance of
industrial development bonds where specific real pro
perty is involved); and (10) appraising real estate)
through its subsidiary, Chemical Mortgage Company, Roseland,
New Jersey (6/6/84)
H.2, 1984 No. 23
- 20 APPLICATIONS RECEIVED - Continued
New York
First National State Bancorporation, Newark, New Jersey,
for approval to engage de novo in consumer lending and
deposit-taking through First National State/Solebury,
Solebury Township, Pennsylvania.
New York
J.P. Morgan & Co. Incorporated, New York, New York, requests
permission to establish a de novo office engaging in the
following activities (to become a clearing member of the
Singapore International Monetary Exchange, Limited ("SIMEX"),
and to execute and clear futures contracts for nonaffi1iated
persons in Japanese yen, German Deutsche marks, Eurodollars
and gold; MFC will also execute and clear such other futures
contracts, or options thereon, of the type described in
Section 225.25(b)(18) of Regulation Y and subject to the
conditions imposed therein, that may be traded on SIMEX
from time to time) through its subsidiary, Morgan Futures
Corporation
(6/6/84)
Richmond
United Carolina Bancshares Corporation, Whiteville, North
Carolina, notification of intent to engage in de novo
activities (in the issuance and sale at retail of money
orders having a face value of not more than $1,000)
to serve the States of North Carolina and South Carolina,
through a subsidiary, UCB Financial Services Corporation
(6/1/84)
Atlanta
Southland Bank Corp., Butler, Georgia, notification of
intent to engage in de novo activities (sale of credit
life, accident and disability insurance, all of which
are limited to assuring repayment of the outstanding
balance due on a specific extension of credit by sub
sidiaries of Southland Bank Corp. in the event of the
death, disability or involuntary unemployement of the
debtor) serving the State of Georgia, through its
subsidiary, Southland Insurance Agency, Inc. (6/5/84)
St. Louis
Northwest Bancorporation of Arkansas, Inc., Fayetteville,
Arkansas, notification of intent to engage in de novo
activities (in real estate appraising in the market
area served by its affiliate, Northwest National Bank,
Fayetteville, Arkansas (5/31/84)
Minneapolis
First Bank System, Inc., Minneapolis, Minnesota, for
approval to engage de novo in consumer lending and
deposit-taking through First Bank Washington, N.A.,
Seattle, Washington.
- 21
H.2, 1984 No. 23
APPLICATIONS RECEIVED - Continued
Kansas City
FirstBank Holding Company of Colorado, Lakewood, Colorado,
notification of intent to engage in ae novo activities
(the issuance and sale at retail of money orders and
similar consumer-type payment instruments having a
face value of not more than $1,000, [Regulation Y,
Section 225.25(b)(12)]) through its subsidiary,
FirstBank Holding Company (6/7/84)
Kansas City
The Protection Insurance Agency, Protection, Kansas,
notification of intent to engage in de novo activities
(in the sale of general insurance in a town with a
population not exceeding 5,000) these activities would
be performed in the Village of Protection, Kansas and
the surrounding rural areas (6/4/84)
San
Francisco
Combancorp, City of Commerce, California, notification of
intent to engage in de novo activities (the originating,
packaging, selling and service of loans secured by real
property for institutional lenders on a fee basis;
precedent for such activity appears to fall under
Section 225.25(b)(1)(iii); the unit will be operated as
a client-centered mortgage broker; buying and selling
will be done largely on third party documentation) the
geographic area to be served is the greater Los Angeles
Basin within the boundries of the State of California,
through its subsidiary, Combancorp Mortgage Brokerage Co
(6/5/84)
* * * * *
Application to the Board of Governors of the
Federal Reserve System for Prior Approval of an
Acquisition Pursuant to Section 5(b) of the Bank
Service Corporation Act, as Amended
Atlanta
Sun Bank of Ocala, Ocala, Florida, and Sun Bank of Tampa
Bay, Tampa, Florida, for approval to invest in Sunbank
Service Corporation, Orlando, Florida.
*
*
*
* *
H.2, 1984 No. 23
- 22 APPLICATIONS RECEIVED - Continued
REPORTS RECEIVED
None.
* * * * *
PETITIONS FOR RULEMAKING
None.
@FedFRASER