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ANNOUNCEMENT BY BOARD OF GOVERNORS CF TOE FEDERAL RESERVE SYSTEM H.2, 1985 No. 12 Actions of the Board Applications and Reports Received During the Week Biding March 23, 1985 APPLICABLE RESERVE BANK ACTIONS OF TOE BOARD Statement bv Governor Henry C. Wallich, before the Subcommittee on International Economic Policy and Trade of the House Foreign Affairs Committee, to discuss the important issues relating to U.S. trade and current account deficits. Termination of the fractional availabilitv crediting option for interterritory check float recovery, effective September 1, 1986. (Docket No. R-0525) Notice of the Board's decision not to adopt a rule for banks that is substantially similar to the Federal Trade Commission's trade regulation rule on the sale of used motor vehicles. Proposed amendments to update Regulation J, governing check collection and wire transfer of funds; comment requested bv May 21; in addition, the Board requested comment on several technical amendments to its regulation. (Docket No. R-0544) Boston First NH Bank of Lebanon, Lebanon, New Hampshire, proposal to merge with the National Bank of Lebanon, Lebanon, New Hampshire; report to the Federal Deposit Insurance Corporation on com petitive factors. 1/ Boston Hartford National Corporation, Hartford, Connecticut, extension of time to June 24, 1985, within which to acquire Arltru Bancorporation, Lawrence, Massachusetts. 1/ New York Somerset Bancorp, Inc., Somerville, New Jersev, extension of time to October 1, 1985, within which to become a bank holding company through the acquisition of Somerset Trust Company. 17 New York Bank of New York, White Plains, New York, extension of time to March 16, 1986, within which to establish a branch in the town of Southeast, Putnam County, New York. 1/ 17 Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 2 - ACTIONS OF THE BOARD - Continued Philadelphia Merchants Bank (North), Wilkes-Barre, Pennsylvania, a proposed new bank, proposal to merge with The Wyaning National Bank of Wilkes-Barre, Wilkes Barre, Pennsylvania, under the charter and title of the former; report to the Ccmptroller of the Currency on competitive factors. 1/ Richmond NCNB Corporation, Charlotte, North Carolina, extension of time to July 2, 1985, within which to acquire NCNB National Bank, Fairfax County, Virginia. 1/ Richmond First Virginia Bank - Colonial, Richmond, Virginia, extensions of time with respect to branches; (1) to October 22, 1985, to establish a branch at Midlothian Turnpike and Mall Drive; and (2) to June 13, 1985, to establish a branch at Laburnum Avenue and Findlay Road, both in Richmond, Virginia. 1/ Richmond Southwest Virginia Bankshares, Inc., Marion, Virginia, extension of time to flay 22, 1985, within which to became a bank holding company through the acquisition of the successor by merger to The Bank of Marion, Marion, Virginia. If Atlanta Central Bank of the South, Birmingham, Alabama, an investment in bank premises. 1/ Atlanta Americorp, Inc., Savannah, Georgia, extension of time to May 15, 1985, within which to become a bank holding company through acquisition of 100 percent of the voting shares ofAmeribank, N.A., Savannah, Georgia; and Charlton Associates, Savannah, Georgia, to become a bank holding company through the acguisition of at least 48.657 percent of the voting shares of Americorp, Inc., and indirectly Ameribank, N.A., Savannah, Georgia 1/ Atlanta First Lake Charles National Bank, Lake Charles, Louisiana, pro posed merger with First National Bank of Lake Charles, Lake Charles, Louisiana; report to the Ccmptroller of the Currency on competitive factors. 1/ Atlanta St. Mary Bank & Trust Company, Franklin, Louisiana, proposed merger with St. Mary Interim Bank, Franklin, Louisiana; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Chicacro Citizens Bank & Trust Company, Park Ridge, Illinois, an investment in bank premises. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 3 ACTIONS OF THE BOARD - Continued Chicago FIN Bank, National Association, Detroit, Michigan, proposal to merge with First Independence National Bank of Detroit, Detroit, Michigan, under the charter of FIN Bank, National Association, and title of First Independence National Bank of Detroit; report to the Comptroller of the Currency on competitive factors. 1/ Chicago Des Plaines Interim National Bank, Des Plaines, Illinois, proposal to merge with Des Plaines National Bank, Des Plaines, Illinois, under the charter of Des Plaines Interim National Bank and title of Des Plaines National Bank; report to the Comptroller of the Currency on competitive factors. 1/ Chicago Indiana Bancshares, Inc., Bargersville, Indiana, extension of time to June 12, 1985, within which to became a bank holding company through the acquisition of 100 percent of the voting shares of The Bargersville State Bank, Bargersville, Indiana. 1/ Chicago Mid Town Bancorp, Inc., Chicago, Illinois, extension of time to June 16, 1985, within which to became a bank holding company through the acquisition of 100 percent of the voting shares of the successor by merger to Mid Town Bank and Trust Company of Chicago, Chicago, Illinois. 1/ Chicago Valiev Bancorporation, Aopleton, Wisconsin, extension of time to June 10, 1985, within which to acquire 100 percent of the voting shares of Bank of Oregon, Oregon, Wisconsin. 1/ Chicago First Washington Bancorp, Inc., Naperville, Illinois, extension of time to June 13, 1985, within which to became a bank holding company through the acquisition of 100 percent of the voting shares of the successor by merger to Washington Bank and Trust ComDany of Naperville, Naperville, Illinois. l_f Chicago Charter 17 Bancorp, Inc., Richmond, Indiana, extension of time to June 30, 1985, within which to acquire 24.9 percent of the voting shares of Midwest National Corporation, Indianapolis, Indiana and indirectly Midwest National Bank, Indianapolis, Indiana. 1/ St. Louis FNB Financial Corporation, Scottsburg,Indiana, extension of time to June 24, 1985, within which to became a bank holding company through the acquisition of at least 50.65 percent of the voting shares of First National Bank of Scottsburg, Scottsburg, Indiana. 1/ St. Louis Merchants and Farmers Bank, Columbus, Mississipoi, an investment in bank premises. 1/ T7 Application processed on behalf of the Board of Governors under delegated authoritv. H.2, 1985 No. 12 - 4 ACTIONS OF THE BOARD - Continued Kansas City Colorado National Bankshares, Inc., Denver, Colorado, extension of time to May 2, 1985, within which to acquire Longmont National Bankshares, Inc., Longmont, Colorado, and indirectly Longmont National Bank, Longmont, Colorado. 1/ Dallas New First National Bank in DeSoto, DeSoto, Texas, proposed merger with First National Bank in DeSoto, DeSoto, Texas; report to the Comptroller of the Currency on competitive factors. 1/ Dallas Broadway Bancshares, Inc., San Antonio, Texas, extension of time to May 18, 1985, within which to acquire Broadway National Bank-Westplex, Bexar County, Texas, a proposed new bank. 1/ Dallas East-Tex Bancorp, Inc., Trinity, Texas, extension of time to June 2, 1985, within which to acquire at least 30 percent of the voting shares of First National Bank of Highlands, Highlands, Texas, a proposed new bank. 1/ Dallas New Quinlan State Bank, Quinlan, Texas, proposed merger with Quinlan State Bank, Quinlan, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Dallas New Marble Falls State Bank, Marble Falls, Texas, proposal to merge with Marble Falls National Bank, Marble Falls, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ T7 Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 5 ACTIONS OF TOE BOARD - Continued Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Not Disapproved St. Louis First Security Corporation, Harrison, Arkansas. 1/ Minneapolis Faribault Bancshares, Inc., Faribault, Minnesota. 1/ * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Approved St. Louis Gravois Bank, St. Louis County, Missouri, to merge with Gravois Bank at Mehlville, St. Louis County, Missouri. 1/ San Francisco Farmers and Merchants Bank of Central California, Lodi, California, to acquire certain assets and assume liabilities of Golden Valley Bank, Turlock, California. 1/ * * * * * To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Cleveland Approved The Toledo Trust Canpanv, Toledo, Ohio. To establish an off-site electronic facility at The Andersons General Store, Toledo, Ohio. 1/ * * * * * Applications and Notifications fox* International Inve s tments and Other Action 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 Ccnpany Act of 1956, as amended Cleveland Approved Society Corporation, Cleveland, Ohio, no objection to make an additional investment in Export Partnership for Intercontinental Trade, Inc., Cleveland, Ohio. 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 6 - ACTIONS OF THE BOARD - Continued Atlanta New York Ccranerce Uhion Corporation, Nashville, Tennessee, no objection to invest in Ccranerce Trading Corporation, Nashville, Tennessee. rtorty-Five Day Notification Period Allowed to Expire Citibank Overseas Investment Corporation, Wilmington, Delaware: no objection to invest, indirectly through Citibank Canada, Toronto, Ontario, Canada, in Citibank Leasing Canada Limited, Toronto, Ontario, Canada. * * * * * To Form a Bank Holding Company Pursuant to Section 3(a) (1) of the Bank Holding Company Act of 1956 Chicago Returned Angola State Bancorp, Angola, Indiana, for approval to acquire 100 percent of the voting shares of Angola State Bank, Angola, Indiana. Chicago First Wayne County Ban Corporation, Inc., Corydon, Iowa, for approval to acquire at least 99.6 percent of the voting shares of Corydon State Bank, Corydon, Iowa. St. Louis First National Bancshares Corporation II, Lexington, Tennessee, for approval to acquire at least 95.0 percent of the voting shares of First National Bancshares Corporation, Lexington, Tennessee and indirectly First National Bank of Lexington, Lexington, Tennessee. Dallas Independent Ccranunitv Financial Corp., Dallas, Texas, for approval to acauire at least 51 percent of the voting shares of Coppell Financial Corporation, Dallas, Texas and indirectly Coppell Bank, N.A., Coppell, Texas. 1/ San Francisco S.C.B. Bancorp, Costa Mesa, California, for approval to acquire at least 80.1 percent of the voting shares of South Coast Bank, Costa Mesa, California. 1/ Cleveland Metamora Bancorp, Tnc., Metamora, Ohio, for approval to acquire 100 percent of the voting shares of The Metamora State Bank, Metamora, Ohio. 1/ A pproved T7 Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 7 ACTIONS OF TOE BOARD - Continued Richmond Logan County BancShares, Inc., Logan, West Virginia, for approval to acguire 100 percent of the voting shares of the successor by merger to Logan Bank & Trust Company, Logan, West Virginia, and Bank of Chapmanville, Chapmanville, West Virginia. 1/ Chicago Citizens Bancshares, Inc., Walnut, Illinois, for approval to acguire at least 80 percent of the voting shares of Citizens First State Bank of Walnut, Walnut, Illinois. 1/ Chicago Lafayette Bancozporation, Lafayette, Indiana, for approval to acguire 100 percent of the voting shares of The Lafayette Bank and Trust Company, Lafayette, Indiana. 1/ Chicago Palmer Bancorp, Inc., Danville, Illinois, for approval to acquire 100 percent of the voting shares of Palmer-American National Bank of Danville, Danville, Illinois. 1/ Kansas City McHugh Investment Company, Murdock, Nebraska, for approval to acquire at least 80 percent of the voting catmon shares of C o m Growers State Bank, Murdock, Nebraska. 1/ Kansas City Oxford Agency, Inc., Oxford, Nebraska, for approval to acquire 100 percent of the voting shares of Security State Bank, Oxford, Nebraska. Dallas Woodson Bancshares, Inc., Woodson, Texas, for approval to acquire 100 percent of the voting shares of First State Bank, Woodson, Texas. 1/ * * * * * To Expand a Bank Holding Ccnpany Pursuant to Section 3(a) (3) o f the Bank Holding Ccnpany of 1956 Returned Chicago Mt. Zion Bancorp, Inc., Mt. Zion, Illinois, for approval to accniire at least 70.40 percent of the voting shares of First National Bank of Mt. Zion, Mt. Zion, Illinois. Dallas Haltcm City Bancshares, Inc., Dallas, Texas, for approval to acquire 100 percent of the voting shares of American Bank of Commerce, Grapevine, Texas. 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 8 ACTIONS OF TOE BOARD - Continued Boston Approved Bank of New Hampshire Corporation, Manchester, New Hampshire, for approval to acquire 100 percent of the voting shares of Strafford National Bank, Dover, New Hampshire. 1/ Cleveland Society Corporation, Cleveland, Ohio, for approval to acquire 100 percent of the voting shares of Scioto Bank, Columbus, Ohio, a proposed new bank. Atlanta First Bankers Corporation of Florida, Pompano Beach, Florida, for approval to acquire 100 percent of the voting shares of The First Bankers of Seminole Countv, N.A., Longwood, Florida, a proposed new bank. 1/ Kansas City The Bank of New Mexico Holding Company, Albuquerque, New Mexico, for approval to acquire at least 80 percent of the voting cannon shares of The Bank of Northern New Mexico, Las Vegas, New Mexico. 1/ Dallas Security Bancorp, Inc., San Antonio, Texas, for approval to acquire 100 percent of the voting shares of Security Bank East, N.A., San Antonio, Texas, a proposed new bank. 1/ Dallas Victoria Bankshares, Inc., Victoria, Texas, for approval to acquire 100 percent of the voting shares of First Schulenburg Financial Corporation, Schulenburg, Texas, and indirectly First National Bank of Schulenburg, Schulenburg, Texas. 1/ Dallas Victoria Bankshares, 100 percent of the Sequin, Texas, and of Sequin, Sequin, Inc., Victoria, Texas, for approval to acquire voting shares of Nblte Bancshares, Inc., indirectly acquire Nolte National Bank Texas. _1/ * * * * * To Expand a Bank Holding Company Pursuant: to Section 3 (a) (5) of the Bank Holding Company Act of 1956 Chicago Approved F & M Bancorporation, Inc., Kaukauna, Wisconsin, for approval to acquire 100 percent of the voting shares of WCB Corporation, Omro, Wisconsin, and indirectlv acquire 95.93 percent of the voting shares of Winnebago County Bank, Omro, Wisconsin. 1/ 1/ Application processed on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 9 - ACTIONS OF THE BOAT® - Continued To Expand a Bank Holding Company Pursuant to Section 4 (c) (8) of the Bank Holding Ccnpany Act of 1956 Returned New York Banca Corrmerciale Italiana, Milan, Italy and Litco Bancorporation of New York, Inc., Garden City, New York, to engage de novo in commercial loans and consumer lending through Litco Bank of Connecticut, N.A., Stamford, Connecticut; Litco Bank of Washington, D. C., N.A., Washington, D. C.; Litco Bank of Florida, N.A., Tampa, Florida; and Litco Bank, of New Jersey, N.A., Morristown, New Jersey. New York Bankers Trust New York Corporation, New York, New York, to engage de novo in consumer lending and deposit taking through Bankers Trust Ccmpany of Houston, N.A., Houston, Texas; Bankers Trust Ccmpany of Dallas,Dallas, Texas; Bankers Trust Ccrpany of California, N.A., Los Angeles, California; Bankers Trust Ccmpany of Georgia, N.A., Atlanta, Georgia and Bankers Trust Ccmpany of Illinois, N.A., Chicago, Illinois. New York The Chase Manhattan Corporation, New York, New York, to engage de novo in deposit-taking through The Chase Manhattan National Bank of Utah, Salt Lake City, Utah. New York The Chase Manhattan Corporation, New York, New York, to engage de novo in consumer lending through The Chase Manhattan National Bank of Massachusetts, Boston, Massachusetts. Richmond First Union Corporation, Charlotte, North Carolina, to engage de novo in consumer lending and deposit-taking through First Union National Bank of South Carolina, Columbia, South Carolina; First Union National Bank of Virginia, Annandale, Virginia; First Union National Bank of Texas, Houston, Texas; First Union National Bank of Alabama, Birmingham, Alabama; First Union National Bank of Tennessee, Memphis, Tennessee; and First Union National Bank of Georgia, Tucker, Georgia. Richmond Suburban Bancorp, Bethesda, Maryland, to engage de novo in consumer lending and deposit-taking through Suburban Virginia Bank, N.A., Fairfax County, Virginia. Chicago Jesup Bancshares, Inc., Jesup, Iowa, to engage de novo (making, acquirina or servicincr loans for itself or for others of the type made bv a consumer finance comoanv, mortgage ccmpany, commercial finance ccmpany, and factor and engaging in full pav-out, personal or real property leasing) (3/8/85) H.2, 1985 No 12 - 10 - ACTIONS OF TOE BOARD - Continued Chicago Marshall & Ilsley Corporation, Milwaukee, Wisconsin, to expand the activities of Marshall & Ilsley Trust Company of Florida, N.A., Naples, Florida to include consumer lending and deposit taking. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, to engage de novo in consumer lending and deposit-taking through First Trust Company of Arizona, N.A., Phoenix, Arizona. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, to engage de novo in consumer lending and deposit-taking through First Bank Colorado, N.A., Denver, Colorado. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, to engage de novo in consumer lending and deposit-taking through First Bank Missouri, N.A., Kansas City, Missouri. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, to engage de novo in consumer lending and deposit-taking through First Bank Washington, N.A., Seattle, Washington. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, to engage de novo in consumer lending and deposit-taking through First Trust Ccmpanv of Florida, N.A., Sarasota, Florida. Kansas City Colorado Funding Ccmpanv, Denver, Colorado, to engage de novo (providing to others financially related data processing and data transmission services, facilities, and data bases; or access to them) through Colorado Funding Service Corporation, Denver, Colorado. (3/22/85) San Francisco BankAmerica Corporation, San Francisco, California, to engage de novo in consumer lending through Bank of America, N.A., 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. H.2, 1985 No. 12 - 11 - ACTIONS OF THE BOARD - Continued San Francisco BankAmerica Corporation, San Francisco, California, to engage in full pay-out personal and real property leasing through a ioint venture arrangement with unrelated companies not yet identified. Boston PT Investment Corporation, Pawtucket, Rhode Island, for approval to acquire Firestone Financial Corp., Newton Centre, Massachusetts and thereby engage in loan and lease activities and to acquire the residual assets of Graphics/Firestone Leasing Company, a joint venture in which Firestone has a 50 percent interest. Cleveland F.N.B. Corporation, Hermitage, Pennsylvania, for approval to acquire all of the shares of Metropolitan Savings Bank of Youngstown, Youngstown, Ohio. 1/ Richmond NS&T Bankshares, Incorporated, Washington, D.C., for approval to acquire Franklin Mortgage Corporation, Fairfax, Virginia, and thereby engaging in making, acquiring and servicing loans or other extensions of credit (including issuing letters of credit and accepting drafts for the canpany's account or for the account of others, such as would be made by a mortgage company. 1/ Richmond Sovran Financial Corporation, Norfolk, Virginia, for approval to merge its direct and indirect subsidiaries, Sovran Life Insurance Company and Securitv Atlantic Life Insurance Company, respectively, and to continue to engage through the former in underwriting credit life and credit accident and health insurance directly related to extensions of credit by the bank holding company system. 1/ Chicago Comprehensive Investment Company, Coon Rapids, Iowa, for approval to engage in insurance agency activities in a town of less than 5,000 persons throuqh the acquisition of Siedhoff Insurance Agency, Bayard, Iowa. 1/ Kansas City Montacmery County Financial Corporation, Independence, Kansas, for approval to continue to engage in the sale of credit related insurance. 1/ Kansas City Oxford Agency, Inc., Oxford, Nebraska, for approval to acquire the assets of Oxford Insurance Agency and thereby to engage directly in the activities of a general insurance agency in a community with a population of less than 5,000 persons. Approved T 7 Application processed on behalf of the Board of Governors under delegated authoritv. H.2, 1985 No. 12 - 12 - ACTIONS OP THE BOARD - Continued New York Permitted Ccmnercial Bancshares, Inc., Jersey City, New Jersey, to engage de novo (in making, acquiring and/or servicing loans for itself or for others of the type made by a mortgage company and selling credit, life, disability or involuntary unemployment insurance) through Creditco Inc., Woodbridge, New Jersey. The activities would be conducted nationwide (3/22/85) 3/ New York First Jersey National Corporation, Jersey City, New Jersey, to engage de novo directlv (in making, acquiring and/or servicing loans for itself or for others of the type made by a consumer finance company and a commercial finance company) the activity will be conducted throughout the northeastern United States (3/20/85) 3/ Cleveland PNC Financial Corporation, Pittsburgh, Pennsylvania, to engage de novo (making, acquiring, and/or servicing loans for itself or for others of the type made by a consumer finance company) through PNC-NJ Credit Corp. The activities will be conducted in the State of New Jersey (3/21/85) 3/ Richmond LTC Bancorp, Cumberland, Maryland, to engage de novo (in making, acquiring, and/or servicing loans for itself or for others of the type made by a consumer finance company and ccmnercial finance company and selling credit life, disabilitv, or involuntary unemployment insurance) through its subsidiary, Ccmmunitv Finance, Inc., Cumberland, Maryland. The activities will be conducted within a 90-mile radius of Cumberland, covering portions of Maryland, West Virginia, and Pennsylvania (3/21/85) 2/ Richmond Sovran Financial Corporation, Norfolk, Virginia, to engage de novo (in underwriting and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state member banks are authorized to underwrite and deal, providing portfolio investment advice to any person, and engaging in the activities of a trust company of a fiduciary, agency, or custodial nature) through a subsidiary to be known as Sovran Securities Corporation, Richmond, Virginia. The activities would be conducted nationwide (3/23/85) 3/ Chicago First Oak Brook Bancshares, Inc., Oak Brook, Illinois, to engage de novo (in providing financially related courier services) through F.O.B. Courier Express Corporation, Oak Brook, Illinois. The activities would be conducted in the states of Illinois, Indiana, and Wisconsin. (3/22/85) 3/ 3/ Notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 13 ACTIONS OF THE BOARD - Continued San Francisco Security Pacific Corporation, Los Angeles, California, to engage de novo (in acting as financial or investment advisor for a mortgage or real estate investment trust or corporation) through Security Pacific Mortgage Advisors, Inc., Denver Colorado (3/21/85) 3/ * * * * * Redenptioan of Shares Approved Chicago Bimamwood Bancshares, Inc., Rimanwood,Wisconsin. 1/ Minneapolis Faribault Bancshares, Inc., Faribault, Minnesota. 1J Minneapolis Hub Financial Corporation, Helena, Montana. 1/ Kansas City Pathfinder Bancshares, Inc., Fremont, Nebraska. 1/ Dallas Texas Security Bancshares, Inc., Fort Worth, Texas. 1/ T7 3/ Application processed on behalf o f the Board o f Governors under delegated authority. Notification processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. H.2, 1985 No. 12 - 14 APPLICATIONS RECEIVED To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Boston New Belknap Bank, Belmont, New Hampshire. 2/ Atlanta Colonial Bank of Opp, N.A., Opp, Alabama. * * * * * Richmond To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Blue Ridge Bank, Floyd, Virginia, for prior approval of the acquisition of assets and assumption of liabilities of the Christiansburg Office of Jefferson National Bank, Winchester, Virginia. 2/ Atlanta Colonial Bank of Opp, N.A., Opp, Alabama, to merge with Colonial Bank, Montgomery, Alabama. 2/ Atlanta Central Bank of The South Birmingham, Alabama, to merge with The First National Bank of Mobile, Mobile, Alabama, and AmSouth Bank, N.A., Birmingham, Alabama. 2/ San Francisco Fanners and Merchants Bank of Central California, Lodi, California application to acquire certain assets and assume liabilities of Golden Valley Bank, Turlock, California. 2J * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act New York The Dutchess Bank & Trust Company, Poughkeepsie, New York. To establish a branch at 5 South Broadwav, Red Hook, New York. 2/ Cleveland The Toledo Trust Company, Toledo, Ohio. To establish an off-site electronic facilitv in the Hospital Building Medical College of Ohio, Toledo, Ohio. 2/ Cleveland Society Bank of the Firelands, Vermilion, Ohio. branch in Sandusky, Ohio. 2/ To establish a 2/ Application subiect to Canmunitv Reinvestment Act. The Cannunitv Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the ccrrment period. H.2, 1985 No. 12 - 15 APPLICATIONS RECEIVED - Continued Richmond Continental Bank and Trust Ccmpanv, Springfield, Virginia. To establish a branch at 8253-D Backlick Road, Newington, Virginia. 2/ Richmond Central Virginia Bank, Powhatan, Virginia. To establish a branch on State Route 45, approximately .1 miles south of its inter section with State Route 649, Cartersville, Virginia. 2/ Atlanta First State Bank of Bibb County, West Blocton, Alabama. To establish a branch located at Woodstock "Y", intersection of Highways AL. 5 and U.S. 11, Woodstock, Alabama. 2/ * * * * * Applications and Notifications for International Investments and Other Action 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 Boston The First National Bank of Boston, Boston, Massachusetts: prior notification of the intent of its Edge subsidiary, Boston Overseas Financial Corporation, to make an additional investment in Boston Financial Limited, Melbourne, Australia, a wholly-owned subsidiary. New York Citibank Overseas Investment Corporation, Wilmington, Delaware, prior notification of its intent to make an additional invest ment in Diners Club Asia, Inc., Hong Kong. Cleveland Mellon Bank Corporation, Pittsburgh, Pennsylvania, prior notification of its intent to increase its investment in Mellon Overseas Capital N.V., a wholly-owned Netherlands Antilles subsidiary. San Francisco Bank of America National Trust and Savings Association, San Francisco, California, requests consent on behalf of its Edge Act subsidiary, BankAmerica International, to engage in acting as insurance agent or broker with respect to international commercial risks and invest in one or more subsidiaries engaged exclusively in the proposed activity. * * * * * 27 Application subject to Catmunity Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1985 No. 12 - 16 APPLICATIONS RECEIVED - Continued To Farm a Bank Holding Company Pursuant to Section 3(a) (1) of the Bank Holding Company Act of 1956 Boston First National Lincoln Corporation, Damariscotta, Maine, for approval to acquire 100 percent of the voting shares of The First National Bank of Damariscotta, Damariscotta, Maine. 2/ New York Great Falls Bancorp, Totowa, New Jersey, for approval to acquire 100 percent of the voting shares of Great Falls Bank, Totowa, New Jersev, a proposed new bank. 2/ New York Barclays U. S. Holdings Inc., New York, New York and Barclays American Corporation, Charlotte, North Carolina, for approval to acquire at least 80 percent of the voting shares of Barclays Bank of Delaware, National Association, Wilmington, Delaware, a proposed new bank 2/ Cleveland Equimark Purchasing Partners,Philadelphia, Pennsylvania, for approval to acquire at least 64 percent of the voting shares of Equimark Corporation, Pittsburgh, Pennsylvania and indirectly Equibank, Latrobe, Pennsylvania. 2/ Richmond Citizens Bancshares, Inc., Weston, West Virginia, for approval to acquire 100 percent of the Tooting shares of The Citizens Bank of Weston, Weston, West Virginia. 2J Atlanta Commerce Corporation, St. Francisville, Louisiana, for approval to acquire 100 percent of the voting shares of Feliciana Commerce Corporation, St. Francisville, Louisiana and indirectly Bank of Commerce & Trust Company, St. Francisville, Louisiana. 2/ Atlanta First National Bancshares of Paulding County, Inc., Dallas, Georgia, for approval to acquire 100 percent of the voting shares of First National Bank of Paulding County, Dallas, Georgia. 2/ Atlanta United Bankshares, Inc., Nashville, Georgia, for approval to acquire 100 percent of the voting shares of The United Banking Company, Nashville, Georgia. 2J Chicago Angola State Bancorp, Angola, Indiana, for approval to acquire 100 percent of the voting shares of Angola State Bank, Angola, Indiana. 2/ 2/ Application subject to Ccrmtunity Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted, as to the length of the comment period. H.2, 1985 No. 12 - 17 APPLICATIONS RECEIVED - Continued Chicago First National Bank of Blue Island Employee Stock Ownership Plan, Blue Island, Illinois, for approval to acquire at least 54.09 percent of the voting shares of Great Lakes Financial Resources, Inc., Blue Island, Illinois and indirectly First National Bank of Blue Island, Blue Island, Illinois and Ccmnunity Bank of Hanewood-Flossmoor, Homewood, Illinois. 2/ Chicago First Winthrop BanCorporation, Inc., Winthrop, Iowa, for approval to acquire at least 80 percent of the voting shares of Peoples State Bank, Winthrop, Iowa. 2/ Chicago Homewood Holdings, Inc., Cfnaha, Nebraska, for approval to acquire at least 99 percent of the voting shares of Hcmewood Bancorporation, Hcmewood, Illinois and indirectly Bank of Hcmewood, Hcmewood, Illinois. 2/ Chicago Independent Ccmnunity Bancshares, Inc., Kiel, Wisconsin, for approval to acauire 100 percent of the voting shares of The Citizens State Bank, Kiel, Wisconsin. 2/ Chicago Park Forest Holdings, Inc., Omaha, Nebraska, for approval to acquire at least 88.8 percent of the voting shares of Park Forest Bancorporation, Park Forest, Illinois and indirectly Bank of Park Forest, Park Forest, Illinois. 2/ Chicago Pierson Bancorporation, Inc., Pierson, Iowa, for approval to acquire at least 97.2 percent of the voting shares of Farmers Savings Bank, Pierson, Iowa. 2/ Chicago PSB Bancshares, Ltd., Postville, Iowa, for approval to acquire at least 54.4 percent of the voting shares of Postville State Bank, Postville, Iowa. 2/ Chicago Pullman Bancshares, Inc., Chicago, Illinois, for approval to acquire 100 percent of the voting shares of Heritage/Pullman Bank and Trust Company, Chicago, Illinois. 2/ Chicago Valley Bancshares, Inc., Mapleton, Iowa, for approval to acquire at least 91 percent of the voting shares of Mapleton Trust & Savings Bank, Mapleton, Iowa and 100 percent of the voting shares of Danco, Inc., Mapleton, Iowa and indirectly Farmers Savings Bank, Danburv, Iowa. 2/ St. Louis Peoples Bancorp of Washington, Washington, Indiana, for approval to acquire 100 percent of the votinq shares of The Peoples National Bank and Trust Company, Washington, Indiana. 2/ 27 Application subieot to Ccmnunitv Reinvestment Act. The Ccmnunity Affairs ~ Officer Of the applicable Reserve Bank may be contacted as to the length of the carment period. H.2, 1985 No. 12 - 18 APPLICATIONS RECEIVED - Continued St. Louis Peoples Commerce Corporation, North Carrollton, Mississippi, for approval to acquire at least 80 percent of the voting shares of Peoples Bank and Trust Canpany, North Carrollton, Mississippi. 2/ St. Louis Sacramento Bancorp, Sacramento, Kentucky, for approval to acquire at least 80 percent of the voting shares of Sacramento Deposit Bank, Sacramento, Kentucky. 2/ Minneapolis Clarks Fork Stock Co., Frariberg, Montana, for approval to acquire 100 percent of the voting shares of Clarks Fork National Bank, Frariberg, Montana. 2/ Dallas Brush Country Holding Ccmpany, Inc., Freer, Texas, for approval to acquire 100 percent of the voting shares of Freer Bancshares, Inc., Freer, Texas and indirectly Brush Country Bank, Freer, Texas. 2/ Dallas Community Bankers, Inc., Granbury, Texas, for approval to acquire 100 percent of the voting shares of First State Bank of Cleburne, Cleburne, Texas and Granbury Bancshares, Inc., Granbury, Texas and indirectly Granbury State Bank, Granbury, Texas and Grandview Bancshares Inc., Grandview, Texas and indirectly First State Bank, Grandview, Texas. 2/ Dallas Crosby Bancshares, Inc., Crosby, Texas, for approval to acquire 100 percent of the Tooting shares of Crosby State Bank, Crosbv, Texas. 2/ Dallas First Richardson Bancshares, Inc., Richardson, Texas, for approval to acquire at least 80 percent of the voting shares of First National Bank of Richardson, Richardson, Texas. 2/ San Francisco First Central Bancorp, Inc., Phoenix, Arizona, for approval to acquire 100 percent of the voting shares of First Central Bank, Phoenix, Arizona. 2/ * * * * * 2/ Application subiect to Ccrrcnunitv Reinvestment Act. The Ccmmunitv Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. H.2, 1985 No. 12 - 19 APPLICATIONS RECEIVED - Continued To Expand a Bank Holding Ccnjaany Pursuant to Section 3(a) (3) of the Bank Holding Carpany Act of 1956 New York Barclays PIC and Barclays Bank PIC, both of London, England; and Barclavs USA Inc., Wilmington, Delaware, for approval to acquire at least 80 percent of the voting shares of Barclays Bank of Delaware, National Association, Wilmington, Delaware. 2/ Philadelphia Merchants Bancorp, Inc., Allentown, Pennsylvania, for approval to acquire 100 percent of the voting shares of The Wyoming National Bank of Wilkes-Barre, Wilkes-Barre, Pennsvlvania. 2/ Cleveland F.N.B. Corporation, Hermitage, Pennsylvania, for approval to acquire 100 percent of the voting shares of Reeves Bank, Beaver Falls, Pennsylvania. 2/ Cleveland Society Corporation, Cleveland, Ohio, for approval to acquire 100 percent of the voting shares of Scioto Bank, Columbus, Ohio, a proposed new bank. 2/ Atlanta First Atlanta Corporation, Atlanta, Georgia, for approval to acquire 100 percent of the voting shares of First Gwinnett Bancshares, Inc., Lawrenceville, Georgia and indirectly First National Bank of Gwinnett County, Lawrenceville, Georgia. 2/ Chicago Acorn Bankshares, Inc., Rloomingdale, Illinois, for approval to acquire at least 54 percent of the voting shares of Bartlett Bank and Trust Company, Bartlett, Illinois. 2/ Chicago First American Bank Corporation, Elk Grove Village, Illinois, for approval to acquire 100 percent of the voting shares of Carmunity Bank & Trust, Hanover Park, Illinois and Old Orchard Bank & Trust Company, Skokie, Illinois. 2/ Chicago First of America Bank Corporation, Kalamazoo, Michigan, for approval to acquire 100 percent of the voting shares of Carmunity National Bank of Pontiac, Pontiac, Michigan. 2/ St. Louis Carmunity Bancorp, Inc., Manchester, Missouri, for approval to acquire at least 64.56 percent of the voting shares of The Citizens Bank of Owensville, Owensville, Missouri. 2/ St. Louis Farmers Capital Bank Corporation, Frankfort, Kentucky, for approval to acquire at least 96 percent of the voting shares of The Lawrenceburg National Bank, Lawrenceburg, Kentucky. 2/ 2/ Application subject to Carmunity Reinvestment Act. The Carmunity Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the ccmnent period. H.2, 1985 No. 12 - 20 - APPLICATIONS RECEIVED - Continued St. Louis Midwest Bancshares, Inc., Poplar Bluff, Missouri, for approval to acquire 100 percent of the voting shares of Bank of Piedmont, Piedmont, Missouri. 2/ Kansas City C.C.B., Inc.; New Central Colorado Company and Central Bancorporation, Inc., all of Denver, Colorado, for approval to acquire 100 percent of the voting shares of Cherry Creek National Bank, Denver, Colorado. 2/ Kansas City Shamrock Bancshares, Inc., Colgate, Oklahoma, for approval to acquire at least 89 percent of the voting shares of Mountain View Bancorporation, Inc., Mountain View, Oklahoma and indirectly First National Bank, Mountain View, Oklahoma. 2/ Kansas City Western Kansas Investment Corporation, Inc.,Winona, Kansas, for approval to acquire at least 24.9 percent of the voting shares of Selden Investment, Inc., Selden, Kansas and indirectly Selden State Bank, Selden, Kansas. 2/ Dallas American Bank Holding Corporation, Corpus Christi, Texas, for approval to acquire 100 percent of the voting shares of American National Bank-Uptown, Corpus Christi, Texas, a pro posed new bank. 2/ Dallas MOORP, Dallas, Texas and MOORP Financial, Inc., Wilmington, Delaware, for approval to acquire 100 percent of the voting shares of MRANK USA, Wilmington, Delaware, a proposed new bank. 2/ Dallas Metroplex Bancshares, Inc., Dallas, Texas, for approval to acquire 100 percent of the voting shares or assets of Gleneagles National Bank, Plano, Texas, a proposed new bank. 2/ San Francisco First Intermountain Holding Corp., Salt Lake approval to acquire at least 80 percent of of Guardian Bancorp, Inc., Salt Lake City, Guardian State Bank, Salt Lake Citv, Utah. City, Utah, for the voting shares Utah and indirectly 2/ * * * * * 27 Application subject to Cannunitv Reinvestment Act. The Camrunity Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the ccnment period. H.2, 1985 No. 12 - 21 - APPLICATIONS RECEIVED - Continued To Expand a Bank Holding Company Pursuant to Section 3 (a) (5) of the Bank Holding Ccnpany Act of 1956 Cleveland Peoples Bank Corporation of Berea, Berea, Kentucky, for approval to merge with Powell County Bancorp, Inc., Stanton, Kentucky and indirectly Powell County Bank, Stanton, Kentucky and First National Carlisle Corp., Carlisle, Kentucky and indirectly The First National Bank of Carlisle, Carlisle, Kentucky. 2/ St. Louis Midwest Bancshares, Inc., Poplar Bluff, Missouri, for approval to merge with Chaffee Bancorporation, Inc., Chaffee, Missouri and indirectly acquire Bank of Chaffee, Chaffee, Missouri. 2/ * * * * * To Expand a Bank Holding Ccnpany Pursuant to Section 4(c) (8) of the Bank Holding Ccnpany Act of 1956 New York Barclays U. S. Holdings, Inc., New York, New York; and Barclaysamerican Corporation, Charlotte, North Carolina, to engage de novo in making, acquiring, and/or servicing loans for itself or for others of the type made by a mortgage company, consumer finance company, sales finance company, credit card company, commercial finance ccmpanv, factor? engaging in the activities of an industrial or Morris Plan bank, or industrial loan company; engaging in full pay-out personal and real property leasing; providing to others financially related data processing and data transmission services, facilities, and data bases; or access to them; selling credit life, disability, or in voluntary unemployment insurance; any insurance agency activity engaged in by a bank holding company or a subsidiary on or before May 1, 1982; underwriting credit life insurance on consumer loans? issuing and retail selling of money orders and similar consumer payment instruments with a face value not more than $1,000; selling U. S. savings bonds? selling traveler's checks. New York Republic New York Corporation, New York, New York; Saban S.A., Panama City, Republic of Panama; Republic Holding S.A., City of Luxembourg, Grand Duchy of Luxembourg; Trade Development Finance (Netherlands Antilles) N.V., Curacao, The Netherlands Antilles? Trade Development Holland Holding B.V., Amsterdam, The Netherlands, to engage de novo (providing to others financially related data processing and data transmission 2/ Application subject to Cannunity Reinvestment Act. The Community Affairs Officer of the applicable Reserve Bank may be contacted as to the length of the ccrrment period. H.2, 1985 No. 12 - 22 - APPLICATIONS RECEIVED - Continued services, facilities, and data bases? or access to them) through its subsidiary, Republic Information & Catmunication Services, Inc., (3/21/85) Cleveland Fifth Third Bancorp, Cincinnati, Ohio, to engage de novo (under writing credit life insurance on consumer loans and underwriting credit disability insurance on consumer loans) through Fountain Square Insurance Company, Cincinnati, Ohio, the geographic area serves the State of Ohio (3/27/85) Cleveland F.N.B. Corporation, Hermitage, Pennsylvania, for approval to acquire all the shares of The Metropolitan Savings Bank of Youngstown, Youngstown, Ohio. Richmond Sovran Financial Corporation, Norfolk, Virginia, to engage de novo (in making, acquiring, and/or servicing loans for itself or for others of the type made by a sales finance company; consumer finance company? and commercial finance company? and selling credit life, disability, or involuntary unemployment insurance) through Sovran Credit Corporation, Charlottesville, Virginia, the activities would be conducted nationwide (3/19/85) Atlanta CB&T Bancshares, Inc., Columbus, Georgia, to engage de novo (in providing portfolio investment advice to any person? and under writing and dealing in obligations of the United States, general obligations of states and political subdivisions, and other obligations in which state members banks are authorized to underwrite and deal) through Calumet Financial Associates, Knoxville, Tennessee, the activities will be conducted nation wide (3/19/85) Atlanta Merchants Capital Corporation, Vicksburg, Mississippi, to engage de novo (providing to others financially related data processing and data transmission services, facilities, and data bases? or access to them) through Merchants Data Services, Inc., Vicksburg, Mississippi (2/28/85) Chicago Denmark Bancshares, Inc., Denmark, Wisconsin, engaging in insurance agency activities in a town of less than 5,000 persons through the acquisition of McDonald Insurance Agency, Denmark, Wisconsin. Chicago East Troy Bancshares, Inc, East Troy, Wisconsin, to engage in discount securities brokerage activities including certain securities credit and incidental activities through the acquisition of Wisconsin Discount Securities Corporation, Milwaukee, Wisconsin. - 23 - H.2, 1985 No. 12 APPLICATIONS RECEIVED - Continued Chicago First American Bank Corporation, Elk Grove Village, Illinois, providing to others financially related data processing and data transmission services, facilities, and data bases; or access to them through the acquisition of First American Data Services, Inc., Elk Grove Village, Illinois. Chicago Jesup Bancshares, Inc., Jesup, Iowa, to engage de novo (making, acquiring, and/or servicing loans for itself or for others of the type made by a mortgage company; consumer finance company; commercial finance company and factor and engaging in full pay-out personal and real property leasing) the geographic scope will be the State of Iowa (3/18/85) Chicago Valley Bancshares, Inc., Mapleton, Iowa, for approval to engage in insurance agencv activities in a town of less than 5,000 persons. Minneapolis First Bank System, Inc., Minneapolis, Minnesota, for approval to indirectly acquire the insurance expirations, business, records and files of Austin-Osterud Agency, Inc., Austin, Minnesota. Kansas City Western Kansas Investment Corporation, Inc., Winona, Kansas, to engage indirectly in acting as insurance agent or broker for any insurance sold by a bank holding company or a nonbank subsidiary in a community that has a population not exceeding 5,000, through Selden State Bank Agency, Selden, Kansas. Dallas Texan a Bancshares, Inc., Austin, Texas, to engage de novo (engaqing in the activities of a trust company of a fiduciary, agency, or custodial nature; discount securities brokerage activities including certain securities credit and incidental, activities) (3/18/85) Dallas United City Corporation, Plano, Texas, to engage de novo in consumer financial counseling. San Francisco Security Pacific Corporation, Los Angeles, California, to transfer the securities clearance services of Bradford Trust Company, New York, New York, to Security Pacific Clearing & Services Coro., Ios Angeles, California. * * * * * REPORTS RECEIVED None. H. 2, 1985 No. 12 - 24 - APPLICATIONS RECEIVED - Continued * * * * * PETITIONS FOR RULEMAKING None.
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