Full text of H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received : March 16, 1974

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ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Applications and Reports Received or Acted on
H.2
1974 No. 11

During the Week Ending March 16, 1974

District

8
2

Date
Current Report Filed Pursuant to Section 13
of the Securities Exchange Act
Received
Citizens Fidelity Bank and Trust Company, Louisville,
Kentucky
Nassau Trust Company, Glen Cove, New York
* * * •?'<• -k

5
12




To Withdraw from Membership in the Federal Reserve
System Without a Six-Month Notice as Prescribed by
Section 9 of the Federal Reserve Act
Received
The Northern Virginia Bank, Springfield, Virginia
Farmers and Merchants Bank of Long Beach, Long Beach,
California
k

*

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*

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3-11-74
3-12-74

H.2
1974 No. 11

- 2 To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Received
The Central Trust Company, Cincinnati, Ohio. Branch to
be established at 2435 Harrison Avenue, Cincinnati,
Hamilton County.
The City Bank Company, Lorain, Ohio. Branch to be
established at 2311 Colorado Avenue, Lorain, Lorain
County.
First Virginia Bank of The Peninsula, Poquoson, Virginia.
Branch to be established at 6060 Jefferson Avenue,
Newport News.
Union Trust Company of Maryland, Baltimore, Maryland.
Branch to be established at 1776 Plaza, 1776 East Jefferson
Street, Montgomery County, Rockville.
The Louisville Trust Company, Louisville, Kentucky. Branch
to be established at 4021 Taylorsville Road, Louisville,
Jefferson County.
Approved
-Security Trust Company, Rochester, New York. Branch to
be established at 671 Park Avenue, Southeast corner of
Park Avenue and Berkeley Street, Rochester, Monroe County.
*The Citizens Bank, Attica, New York. Branch to be established
83 feet West of the center line of North Main Street
(Route 19) and 480 feet South of the center line of Buffalo
Road (RD. 1) The Warsaw Shopping Center Development,
Village of Warsaw, (Incorporated area), Wyoming County.
"Central Trust Company, Rochester, New York. Branch to be
established at 6 West Market Street, City of Corning,
County of Steuben.
''Fremont Bank and Trust Company, Fremont, Michigan. Branch
to be established in the vicinity of Main Street and Stone
Road, Fremont.
*City Bank and Trust Company, Moberly, Missouri. Branch to
be established at the intersection of U.S. Highway 24
and 63B, Moberly.

»Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.




H. 2
1974 No. 11

- 3 To establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Approved
Manufacturers Hanover Trust Company, New York, New York:
branch in Bucharest, the Socialist Republic of Romania.

2




To Merge Pursuant to Section 18(c) of
the Federal Deposit Insurance Act
Received
Barclays Bank of New York, New York, New York for prior
approval to merge with The First Westchester National
Bank, New Rochelie, New York.
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To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Received
Marco Capital Corporation, Wilmington, Delaware, for
approval to acquire 96.94 per cent of the voting shares
of Marshall County Bank & Trust Company, Plymouth,
Indiana.
Milford Bancorporation, Milford, Iowa, for approval to
acquire 97.5 per cent of the voting shares of Dickinson
County Savings Bank, Milford, Iowa.
McNee, Inc., Grainfield, Kansas, for approval to acquire
81 per cent or more of the voting shares of The Citizens
State Bank, Gainfield, Kansas.
Approved
First Melville Bancorp, Inc., New Bedford, Massachusetts,
for approval to acquire 100 per cent of the voting
shares of the successor by merger to The First National
Bank of New Bedford, New Bedford, Massachusetts.
Curry Ban Corporation, Massena, Iowa, for approval to
acquire 80 per cent or more of the voting shares of
Farmers Savings Bank, Massena, Iowa.
Farmers and Merchants Bancshares, Inc., Crescent,
Oklahoma, for approval to acquire 80 per cent or more
of the voting shares of Farmers & Merchants Bank,
Crescent, Oklahoma,
Withdrawn
Guardian Bankshares of Florida, Inc., Stuart, Florida,
for approval to acquire 80 per cent or more of the
voting shares of Stuart National Bank, Stuart, Florida,
and Port Salerno National Bank, Port Salerno, Florida.
* * * * A

To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Received
Multibank Financial Corp., Boston, Massachusetts, for
approval to acquire at least 80 per cent of the voting
shares of Security National Bank of Springfield,
Springfield, Massachusetts.

H. 2
1974 No. 11
3

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- 5 Received Continued
Bancahares of New Jersey, Moorestown, New Jersey, for
approval to acquire 100 per cent (less directorsf
qualifying shares) of the voting shares of The Prospect
Park National Bank, Wayne, New Jersey.

6

Southeast Banking Corporation, Miami, Florida, for
approval to acquire 80 per cent or more of the voting
shares of Edgewood Bank, Jacksonville, Florida.

11

Federated Capital Corporation, Houston, Texas, for
approval to acquire 100 per cent of the voting shares
(less directors' qualifying shares) of the successor
by merger to The Guaranty State Bank of New Braunfels,
New Braunfels, Texas.

11

First City Bancorporation of Texas, Inc., Houston, Texas,
for approval to acquire 100 per cent (less directors1
qualifying shares) of the voting shares of the
successor by merger to Meyerland Bank, Houston, Texas.

6

Approved
The Alabama Financial Group, Inc., Birmingham, Alabama,
for approval to acquire 88.2 per cent of the voting
shares of The Sand Mountain Bank, Boaz, Alabama.

6

Barnett Banks of Florida, Inc., Jacksonville, Florida,
for approval to acquire 90 per cent or more of the
voting shares of Barnett Bank of Lake Placid, Lake
Placid, Florida, a proposed new bank.

6

Barnett Banks of Florida, Inc., Jacksonville, Florida,
for approval to acquire 90 per cent or more of the
voting shares of Barnett Bank of South Orlando,
Orlando, Florida, a proposed new bank.

6

First at Orlando Corporation, Orlando, Florida, for
approval to acquire 90 per cent or more of the voting
shares of The First American Bank of Pensacola,
Pensacola, Florida.

6

Third National Corporation, Nashville, Tennessee, for
approval to acquire 40 per cent or more of the voting
shares of The Bank of Sevierville, Sevierville,
Tennessee.

8

Mercantile Bancorporation, Inc., St. Louis, Missouri,
for approval to acquire 100 per cent of the voting
shares (less directors! qualifying shares) of
Mercantile National Bank of Clay County, Kansas City,
Missouri, a proposed new bank.




H.2
1974 No. 11
9

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10

Approved Continued
Jacob Schmidt Company, and American Bancorporation, Inc.,
both of St. Paul, Minnesota, for approval to acquire
92.49 per cent (less directors' qualifying shares) of
the voting shares of First Burnsville State Bank,
Burnsville, Minnesota.
Northern Michigan Corporation, EsCanada, Michigan, for
approval to acquire 100 per cent (less directors'
qualifying shares) of the voting shares of Northern
Michigan Bank of Marquette, Marquette, Michigan, a
proposed new bank.
Returned
On H.2 No. 40 (1973), the Board reported receipt of
applications from The Fort Worth National Corporation,
Fort Worth, Texas, to retain shares of bank stock
acquired in a fiduciary capacity by its wholly-owned
subsidiaries Bank of Fort Worth, Fort Worth, Texas,
and Riverside State Bank, Fort Worth, Texas. Pursuant
to an amendment to Regulation Y, Rules Regarding
Delegation of Authority (Section 265.(f)(29) and Section
225.3), the applications are being returned to the
Federal Reserve Bank of Dallas for processing.
Suspended
On H.2 No. 7 (1974), the Board reported receipt of an
application from United Missouri Bancshares, Inc.,
Kansas City, Missouri, for approval to acquire 80
per cent or more (less directorsf qualifying shares)
of the voting shares of Westport Bank, Kansas City,
Missouri. This application is now in suspense awaiting
the hearing ordered by the Board on March 15, 1974.
* * * * *

2

To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Received
Chemical New York Corporation, New York, New York, for
approval to acquire 100 per cent of the preferred and
common shares of The Galbreath Mortgage Company,
Columbus, Ohio.

**4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H. 2
1974 No. 11
2

3

- 7 Received Continued
**First National City Corporation, New York, New York,
3-15-74
notification of intent to engage in de novo activities
(making consumer installment personal loans, purchasing
consumer installment sales finance contracts; and acting
as broker for the sale of consumer credit related life/
accident and health insurance and consumer credit
related property and casualty insurance; if this
proposal is effected, Nationwide Financial Corporation
of Missouri will offer to sell insurance as follows:
(a) group credit life/accident and health insurance to
cover the outstanding balances of loans to borrowers
in the event of their death, or, to make the contractual
monthly payments on the loans in the event of the
borrower1s disability; (b) individual casualty insurance
on property, generally automobiles and household goods,
subject to security agreements with Nationwide; further,
in regard to the sale of credit related insurance,
Nationwide Financial Corporation of Missouri will not
offer insurance counseling) in Florissant, Missouri,
through its subsidiary, Nationwide Financial Corporation
of Missouri.
**Fidelity Corporation of Pennsylvania, Rosemont, Pennsylvania, notification of intent to engage in de novo
activities (making and acquiring consumer and mortgage
loans to individuals, including second mortgage loans;
servicing these loans and possibly other loans secured
by mortgage on properties in South Carolina where the
loans are owned by direct or indirect subsidiaries of
Fidelity; engaging in a general consumer finance
business; and with respect to all of the above loans,
selling credit life insurance including joint coverage,
credit health and accident, mortgage life and disability, dismemberment and accidental death insurance,
and casualty insurance on the collateral) at the corner
of Mt. Gallant Road and Nationsford Road, Rock Hill,
South Carolina; 2127 Devine Street, Columbia, South
Carolina; 1409 West Evans Street, Florence, South
Carolina; and 4816 Rivers Avenue, North Charleston,
South Carolina; through its direct and indirect subsidiaries including Local Finance Company of South
Carolina, Inc., and Local Mortgage Company of South
Carolina.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority,




3- 5-74

K. 2
1974 No. 11
3

- 8 Recelved Continued
**New Jersey National Corporation, Trenton, New Jersey,
notification of intent to engage in a de novo activity
(leasing personal property and equipment, and acting as
agent, broker, or adviser in leasing property and
equipment; and such incidental activities as are
necessary to carry on the activities specified) at
One West State Street, Trenton, New Jersey, through
a subsidiary, New Jersey National Leasing Corporation.

5

3- 8-74

Bank of Virginia Company, Richmond, Virginia, for approval
to acquire 100 per cent of the voting shares of Harold
Loan and Finance Corp., Braddock, Pennsylvania, through
General Finance Service Corporation, Huntingdon,
Pennsylvania, a wholly-owned indirect subsidiary of
Bank of Virginia Company, Richmond, Virginia.

5

**Bank of Virginia Company, Richmond, Virginia, notification of intent to engage in a d<e novo activity (term
financing, using full pay-out lease contracts and
security agreements secured and unsecured, commercial
financing, including but not limited to, providing
guarantees of letters of credit and issuing letters
of guaranty of any kind; and vehicle leasing on a
full pay-out basis) at 7315 Wisconsin Avenue, Bethesda,
Maryland, and 870 North Military Highway, Norfolk,
Virginia, through its subsidiary, Cavanagh Leasing
Corporation.

3-13-74

5

**Bank of Virginia Company, Richmond, Virginia, notification of intent to relocate an office of its subsidiary,
General Finance Service Corporation, from 1302 North
Church Street, Hazelton, Pennsylvania, to 122 West
Broad Street, Hazelton, Pennsylvania, and to engage
at the new location in the following activities (making
loans or extensions of credit such as would be made by
a finance company; and acting as agent for credit life,
accident and health insurance, and other insurance
written to protect collateral during the period of
credit extension).

3-13-74

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H. 2
1974 No. 11
5

5

Received Continued
**Bank of Virginia Company, Richmond, Virginia, notification of intent to engage in de novo activities (making
mortgage loans, principally secured by junior liens
on commercial, residential, and unimproved real estate;
and acting as agent for credit life, accident and
health insurance arising out of business conducted) in
Virginia Beach, Virginia, through its subsidiary, BVA
Credit Corporation.

3-13-74

**Fidelity American Bankshares, Inc., Lynchburg, Virginia,
2-21-74
notification of intent to engage in a de novo activity
(acting as insurance agent or broker in offices at which
the holding company or its subsidiaries are otherwise
engaged in business (or in an office adjacent thereto)
with respect to the following types of insurance:
insurance which is directly related to an extension of
credit by its banks or bank-related subsidiaries
primarily credit life insurance, credit accident and
health insurance, property insurance which protects
collateral upon which a security interest results from
an extension of credit, and mortgage redemption or
mortgage cancellation insurance) in Madison Heights,
Altavista, Amelia, Amherst, Appomattox, Halifax, Portsmouth, Suffolk, Hampton, Williamsburg, Blackstone,
Brookneal, Chase City, Clarksville, Drakes Branch,
Farmville, Kenbridge, Rustburg, Newport News, Accomack,
Culpeper, Henrico County, Buchanan, Parksley, Albermarle
County, Botetourt, Virginia Beach, Roanoke County,
Natural Bridge, Charlottesville, Herdon, and Lynchburg,
all located in Virginia, through a subsidiary, Columbia
Insurance Agency, Inc., Lynchburg, Virginia.
**First Virginia Bankshares Corporation, Falls Church,
3-15-74
Virginia, notification of intent to engage in de novo
activities (operating as a finance company, including
the extension of small personal loans, financing retail
installment sales, granting real estate loans, primarily
second mortgage loans; and acting as agent or broker
in the sale of property insurance, credit life insurance
and credit accident and health insurance only to its
loan customers) in Tampa, Florida, through its subsidiary, First General Financial Services, Inc.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2

1974 No. 11
5

- 10 Received Continued
**Maryland National Corporation, Baltimore, Maryland,
notification of intent to engage in de novo activities
(business of managing investments for its own account
and for the account of others, including individuals,
corporations, partnerships, and portfolios; and giving
investment advice and furnishing financial information
both on an individual basis and by writing and distributing an economic newsletter) in Baltimore, Maryland, through a subsidiary to be known as Fidelity
Financial Services, Inc.

3-11-74

6

**Citizens and Southern Holding Company, Atlanta, Georgia,
notification of intent to engage in clenovo activities
(making or acquiring, for its own account or for the
account of others, loans and other extensions of credit
(including issuing letters of credit and accepting
drafts), such as would be made by a mortgage company;
servicing loans and other extensions of credit for
any person; and acting as investment or financial
adviser, including (i) serving as the advisory company
for a mortgage company or real estate investment trust;
and (ii) furnishing economic or financial information)
in Augusta and Decatur, Georgia, through a subsidiary.
Citizens and Southern Mortgage Company.

3-11-74

7

**The Indiana National Corporation, Indianapolis, Indiana,
notification of intent to engage in de novo activities
(making or acquiring, for its own account and for the
account of others, direct loans made pursuant to the
Mortgage Loan Act (commonly referred to as second
mortgage loans) Revised Code of Ohio Sections (other
than first lien) 1321.51 to 1321.99 inclusive;
acquiring, for its own account and for the account
of others, direct loans in the form of consumer loans
which would be made by companies subject to regulation
under the Small Loan Laws or Consumer Loan Laws of
the State of Ohio and business purpose loans and other
extensions of credit in the form of conditional sales
contracts and retail installment sales contracts and
loans to mobile home dealers for the purpose of
financing inventory) in Findlay, Ohio, through its
subsidiary, Citadel Finance, Inc., Indianapolis,
Indiana.

3-11-74

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




H.2
1974 No. 11
7

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Received Continued
Security Bancorp, Inc., Southgate, Michigan, for approval
to acquire all the shares of United Bankers Life
Insurance Company, Phoenix, Arizona.
**First Tennessee National Corporation, Memphis, Tennessee, 3-14-74
notification of intent to engage in de novo activities
(rendering of trust administrative and clerical services
and the solicitation of the appointment of banking
affiliates of First Tennessee National Corporation as
fiduciaries; and the solicitation of the appointment
of First Tennessee Investment Management, Inc., a
registered investment advisor, as investment and
financial advisor) at Suite 1100, Parkway Towers, 404
James Robertson Parkway, Nashville, Tennessee, through
its subsidiary, First Tennessee Trust Service Corporation.
**First of Muskogee Corporation, Muskogee, Oklahoma,
notification of intent to engage in a de novo activity
(lending money to other persons, firms, associations,
or corporations secured by pledges, liens, and security
interests in contracts, accounts receivable, and other
personal property, primarily household goods,
applicances, and furniture; and making or acquiring,
for its own account or for the account of others, loans
and other extensions of credit, such as would be made
by a finance company) in Muskogee, Oklahoma, through
a subsidiary, Three Rivers Finance Corporation.

McNee, Inc., Grainfield, Kansas, for approval to acquire
the assets of McNee Insurance Agency, Grainfield, Kansas.
Correction:
**0n H.2 No. 6 (1974), the Board reported as withdrawn
a notification of intent from Fidelity Corporation of
Pennsylvania, Rosemont, Pennsylvania, to engage in
de novo activities (making and acquiring, consumer and
mortgage loans to individuals, particularly second
mortgage loans; servicing these loans and possibly
other loans secured by mortgages on properties in
Massachusetts where the loans are owned by direct or
indirect subsidiaries of Fidelity; and with respect to
all such loans, selling credit life, credit health and
accident, mortgage life and disability, accidental
death and dismemberment insurance, and casualty insurance on the collateral; and through Master Life

**4(c) (8) and 4 (c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.



3-12-74

1-14-74

H.2

1974 No. 11

- 12 Received Continued
Insurance Company, an indirect subsidiary of Fidelity,
reinsuring consumer type credit life, health and
accident insurance sold) at 95 Main Street, Brockton,
Massachusetts; 257 Union Street, Rockland, Massachusetts; 159 North Main Street, Northampton, Massachusetts; and 62 Main Street, Easthampton, Massachusetts;
through its indirect subsidiary, Local Mortgage Company
of Massachusetts. This entry should have been reported
as received.

8

1

**General Bancshares Corporation, St. Louis, Missouri,
notification of intent to shift a de novo activity
(providing bookkeeping and data processing services for
the internal operations of General Bancshares Corporation and its subsidiaries; and storing and processing
other banking, financial, or related economic data
for customers of the subsidiaries of General Bancshares
Service Company) from a subsidiary Bank of St.
Louis, St. Louis, Missouri, to a subsidiary to be
known as General Bancshares Service Company, a proposed
Missouri Corporation, in offices at 901 Washington
Avenue, St, Louis, Missouri. The received date has
been changed from February 15, 1974, to March 13, 1974.
Approved
Depositors Corporation, Augusta, Maine, for approval
to acquire all of the voting shares of Firestone
Financial Corporation, Chestnut Hill, Massachusetts.

1

Industrial National Corporation, Providence, Rhode Island,
for approval to acquire the assets of Mortgage
Associates, Inc., Milwaukee, Wisconsin.

5

First Virginia Bankshares Corporation, Falls Church,
Virginia, for approval to retain all of the voting
shares of Arlington Mortgage Company, Falls Church,
Virginia.

7

Curry Ban Corporation, Massena, Iowa, for permission to
continue to engage in the activities of a general
insurance agency in a community with a population not
exceeding 5,000 persons.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




1 K

1

3-14-74

H.2
1974 No. 11

6

2

2

- 13 Delayed
**Barnett Banks of Florida, Inc., Jacksonville, Florida,
notification of Intent to engage in de novo activities
(conducting the business of a mortgage company, including the making or acquiring, for its own account or
for the account of others, loans and other extensions
of credit; servicing loans and other extensions of
credit for any person; and acting as investment or
financial adviser to the extent of (i) providing
portfolio investment advice, and (ii) furnishing
economic information and advice) in Atlanta, Georgia;
Norfolk, Virginia; and Durham, North Carolina; through
its subsidiary, Barnett Winston Mortgage Company.

Permitted
**Charter New York Corporation, New York, New York,
3-15-74
notification of intent to engage in de novo activities
(leasing personal property and equipment; making or
acquiring, for its own account or for the account of
others, loans or other extensions of credit with respect
to personal property and equipment, acting as agent,
broker, and adviser in connection with such leases;
and servicing such loans or other extensions of credit
and activities incidental thereto) in Rochester, New
York, through its subsidiary, Charter New York Leasing
Corporation, New York, New York.
**First National City Corporation, New York, New York,
3-10-74
notification of intent to engage in de novo activities
(making consumer installment personal loans, purchasing
consumer installment sales finance contracts; and
acting as broker for the sale of consumer credit related
life/accident and health insurance and consumer credit
related property and casualty insurance; if this proposal
is effected, Nationwide Financial Corporation of Arizona
and Louisiana will offer to sell insurance as follows:
(a) group credit life/accident and health insurance to
cover the outstanding balances of loans to borrowers in
the event of their death, or, to make the contractual
monthly payments on the loans in the event of the
borrower's disability; (b) Individual casualty insurance
on property, generally automobiles and household goods,
subject to security agreements with Nationwide; further,
in regard to the sale of credit related insurance,
Nationwide Financial Corporation of Arizona and Louisiana
will not offer insurance counseling) in Tucson, Arizona,
and Monroe, Louisiana, through its subsidiaries, Nationwide Financial Corporation of Arizona and Louisiana.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




3-15-74

T

H.2
1974 No. 11
2

3

- 14 Permitted Continued
**Horizon Bancorp, Morristown, Mew Jersey, notification
3-14-74
of intent to engage in de novo activities (leasing
personal property and equipment, where at the inception
of the initial lease, the expectation is that the effect
of the transaction and reasonably anticipated future
transactions with the same lessee as to the same
property will be to compensate the lessor for not less
than the lessor's full investment in the property; and
making or acquiring, for its own account or for the
account of others, loans and other extensions of credit,
such as would be made by a finance company; such loans
or other extensions of credit would generally be secured
by equipment or other assets which may be legally
pledged) in Tampa, Florida, through its subsidiary,
Horizon Leasecorp, Morristown, New Jersey.
**Fidelity Corporation of Pennsylvania, Rosemont, Pennsylvania, notification of intent to engage in de novo
activities (making and acquiring, consumer and mortgage
loans to individuals, particularly second mortgage
loans; servicing these loans and possibly other loans
by mortgages on properties in Massachusetts where the
loans are owned by direct or indirect subsidiaries of
Fidelity; and with respect to all such loans, selling
credit life, credit health and accident, mortgage life
and disability, accidental death and dismemberment
insurance, and casualty insurance on the collateral;
and through Master Life Insurance Company, an indirect
subsidiary of Fidelity, reinsuring consumer type credit
life, health and accident insurance sold) at 179 Main
Street, Milford, Massachusetts, through its indirect
subsidiary, Local Mortgage Company of Massachusetts.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.




3-10-74

H.2
1974 No. 11
3

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Permitted Continued
**Fidelity Corporation of Pennsylvania, Rosemont, Pennsylvania, notification of intent to engage in a d<e novo
activity (offering accidental death and dismemberment
insurance to persons who have credit relationships
that are originated or serviced by its subsidiaries) at
6 East Park Avenue, Merchantville; 5511 North Crescent
Boulevard, Pennsauken; 401 Broad Avenue, Palisades
Park; 740 Anderson Avenue, Cliffside Park; 50 Chestnut
Street, Ridgewood; 6305 Bergenline Avenue, West New
York; 701 Kennedy Boulevard, North Bergen; 113 Route
46, Wayne; and 3117 Atlantic Avenue, Atlantic City,
all in New Jersey; through its indirect subsidiaries,
Local Mortgage Company of New Jersey and various
Local finance companies in New Jersey.

3-11-74

3

**Fidelity Corporation of Pennsylvania, Rosemont, Pennsylvania, notification of intent to engage in a de novo
activity (offering accidental death and dismemberment
insurance to persons who have credit relationships
that are originated or serviced by its subsidiary) at
1800 Peachtree Road, N.W., Atlanta, Georgia, through
its indirect subsidiary, Local Mortgage Corporation,
Atlanta, Georgia.

3-15-74

4

**Centran Bancshares Corporation, Cleveland, Ohio,
notification of intent to engage in de novo activities
(making consumer finance loans (including loans to
individuals secured by first mortgages and second
mortgages on residential property), purchases of
installment sales contracts; and selling credit life
insurance and health and accident insurance at the
request of borrowers in connection with extensions of
credit) in the Guaranty Bank Building, 817 17th Street,
Denver, Colorado, through its wholly-owned subsidiary,
Colonial Financial Service, Inc., Birmingham, Alabama.

3-11-74

5

**First Virginia Bankshares Corporation, Falls Church,
Virginia, notification of intent to relocate an office
of its subsidiary, First General Financial Services,
Inc., from Bell-Air Shopping Center, Pascagoula,
Mississippi, to Woolco Shopping Center, Highway 90,
Pascagoula, Mississippi, and to engage at the new
location in the following activities (operating as a
finance company, including the extension of small
personal loans, financing retail installment sales,
granting real estate loans, primarily second mortgage
loans; and acting as agent or broker in the sale of
property insurance, credit life insurance and credit
accident and health insurance only to its loan
customers).

3-10-74

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.



H.2
1974 No. 11
6

- 16 Permitted Continued
**First National Holding Corp., Atlanta, Georgia,
3-14-74
notification of intent to engage in de novo activities
(leasing personal property and equipment, or acting as
agent, broker, or adviser in leasing of such property;
and making or acquiring, for its own account or for the
account of others, loans and other extensions of credit)
in Houston, Texas, through its subsidiary, First South
Leasing Company.

12

**Redwood Bancorp, San Francisco, California, notification
3-10-74
of intent to relocate a de. novo activity (receiving and
holding money in escrow, acting as executor, administrator, guardian, or conservator of estates, acting as
assignee, receiver, depositary, or trustee under the
appointment of any court, and acting as trustee for any
purpose authorized by law, including, without limitation, acting as trustee under deeds of trust given for
the purpose of securing obligations for the repayment of
money) from 1810 Union Street, San Francisco,
California, to 735 Montgomery Street, San Francisco,
California, through its subsidiary, Eucalyptus
Financial Corporation.

12

**Redwood Bancorp, San Francisco, California, notification
of intent to engage in a d_e novo activity (receiving
and holding money in escrow, acting as executor,
administrator, guardian, or conservator of estates,
acting as assignee, receiver, depositary, or trustee
under the appointment of any court, and acting as
trustee for any purpose authorized by law, including,
without limitation, acting as trustee under deeds of
trust given for the purpose of securing obligations
for the repayment of money) at 235 Montgomery Street,
San Francisco, California, through its subsidiary,
Eucalyptus Financial Corporation.

3-10-74

* * * * *

11

To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Permitted
**Arkansas Best Corporation, Fort Smith, Arkansas,
notification of intent to acquire the entire interstate
operating rights of Nicklaus Transfer & Storage Company
of Pittsburgh, Pennsylvania, which operates under the
authority of the Interstate Commerce Commission in
Convenience and Necessity No. MC-29910 and various
amendments thereto, through its subsidiary, ArkansasBest Freight System, Inc.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.



3-13-74