Full text of H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received : March 27, 1976

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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Applications and Reports Received or Acted on
and All Other Actions of the Board
H.2
1976 No. 13

During the Week Ending March 27, 1976

District

5

To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Approved
-Peoples Bank of Danville, Danville, Virginia
Vc /V

4

-k

/V

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To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Received
The Southern Ohio Bank, Cincinnati, Ohio.
Branch to
be established at the Northeast corner of Ridge
and Highland, Columbia Township, Hamilton County.

5

First Virginia Bank, Falls Church, Virginia.
Branch
to be established at the intersection of Burke Road
and Burke Lake Road, in the community of Burke,
Fairfax County.

6

Citizens Commercial Bank of Tallahassee, Tallahassee,
Florida. Branch to be established at the corner of
Madison Street to the South, and Boulevard Street
to the East, Tallahassee, Leon County.

11

Main Bank and Trust, San Antonio, Texas. Branches to
be established at the following locations:
A.

To be established at 1001 N. Main Avenue, San Antonio.

B.

To be established at 215 W. Euclid Street, San Antonio.

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




H.2
1976 No. 13

11

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Received Cont'd
The First State Bank of Granger, Granger, Texas. Branch
to be established directly across North Granger Street
from existing bank premises, Granger.
Approved
-Gape Cod Bank and Trust Company, Hyannis, Massachusetts.
Branch to be established at: the Junction of Main Street
and Route 6 in We 1Ifleet.
*Bank of Virginia, Richmond, Virginia.
Branch to be
established at the intersection of Interstate Route 64
and U.S. Route 250, Henrico County.

4

12

To establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Approved
Mellon Bank, National Association, Pittsburgh,
Pennsylvania: branch - George Town, Grand Cayman,
Cayman Islands.
Bank of America National Trust and Savings Association,
San Francisco, California: branch - Manama, Bahrain.
•>V /V -k -k V?

2

Thirty Day Notice of Intention to Establish an
Additional Branch in a Foreign Country
Received
Marine Midland Bank, New York, New York: branch additional in London, England.
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ic

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







International Investments and Other Actions Approved
Pursuant to Sections 25 and 25(a) of the Federal
Reserve Act and Sections 4(c)9 and 4(c)13 of the
Bank Holding Company Act of 1956, as amended
Citicorp, New York, New York:
investment - to continue
to hold the shares of International Data Systems
Service, Ltd., Hong Kong under the current Bank
Holding Company Act,
Bankers International Corporation, New York, New York:
permission for its wholly-owned subsidiary, BT
Cayman (International) Ltd., George Town, Grand Cayman,
Cayman Islands, to engage in trust activities
outside of the United States.

H.;
191

10

To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Received
CHAMBANCO, INC., Chambers, Nebraska, for approval to
acquire 100 per cent (less directors 1 qualifying shares)
of the voting shares of Chambers State Bank, Chambers,
Nebraska.

10

Elgin Bancshares, Inc., Elgin, Oklahoma, for approval
to acquire 100 per cent (less directors' qualifying
shares) of the voting shares of Bank of Elgin, Elgin,
Oklahoma.

10

FAM Financial Incorporated, Macksville, Kansas, for approval to acquire 70 per cent of the voting shares of
The Farmers and Merchants State Bank, Macksville,
Kansas.

10

Hastings State Company, Hastings, Nebraska, for approval
to acquire 80 per cent or more of the voting shares of
Hastings State Bank, Hastings, Nebraska.

10

Stepp, Inc., Mission Hills, Kansas, for approval to
acquire 65 per cent of the voting shares of Quindaro
Bancshares, Inc., Kansas City, Kansas and to indirectly
acquire Arrowhead State Bank of Kansas City, Kansas
City, Kansas.

10

Weleetka Bancshares, Inc., Weleetka, Oklahoma, for approval
to acquire more than 80 per cent of the voting shares of
The State National Bank of Weleetka, Weleetka, Oklahoma.

10

Approved
Blair Banco, Inc., Blair, Nebraska, for approval to acquire
80 per cent or more of the voting shares of Blair Bank,
Inc., Blair, Nebraska.

10

First Tribune Insurance Agency, Inc., Tribune, Kansas, for
approval to acquire 83.8 per cent of the voting shares
of The First National Bank of Tribune, Tribune, Kansas.

10

Roaring Fork Bancorporation, Carbondale, Colorado, for approval to acquire more than 80 per cent of the voting
shares of Roaring Fork Bank, Garfield County (P.O.
Carbondale), Colorado.







Approved Continued
Wellston Bancshares, Inc., Wellston, Oklahoma, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of The Wellston
State Bank, Wellston, Oklahoma.

* * * * *

To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the. Bank Holding Company Act of 1956
Received
National. City Corporation, Cleveland, Ohio, for approval
to acquire 100 per cent of the voting shares of First
National Bank of Elyria, Elyria, Ohio.
National Detroit Corporation, Detroit, Michigan, for approval to acquire 100 per cent of the voting shares
(less directors 1 qualifying shares) of National Bank of
Port Huron, Port Huron, Michigan, a proposed new bank.
Approved
Banks of Iowa, Inc., Cedar Rapids, Iowa, for approval to
acquire 94.8 per cent or more of the voting shares of
First National Bank in Sioux City, Sioux City, Iowa.
United Missouri Bancshares, Inc., Kansas City, Missouri,
for approval to acquire 80 per cent or more of the
voting shares of Gillioz Bank and Trust Company, Monett,
Missouri.
Republic of Texas Corporation, Dallas, Texas, for approval to acquire indirectly 24.9 per cent of the voting
shares of Di boll State Bank, Diboll, Texas.
Republic of Texas Corporation, Dallas, Texas, for approval to acquire 100 per cent of the voting shares
(less directors 1 qualifying shares) of First Bank &
Trust, Lufkin, Texas.
Withdrawn
Madison Financial Corporation, Chicago, Illinois, for
approval to acquire 14.9 per cent of the voting shares
of Madison National Bank of Nil.es, Niles, Illinois, a
proposed new bank.

H.2
1976 No. 13

1

To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Received
Correction:
**Delete Industrial National Corporation, Providence, Rhode
Island, notification of intent to engage in de novo
activities (acting as underwriters for credit life insurance and credit health insurance which is directly
related to extensions of credit by the bank holding
company system) at 55 Kennedy Plaza, Providence, Rhode
Island, through a subsidiary, Consumer Life Insurance
Company.

3-25-76

2

^^Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in d £ novo activities
(all facets of a mortgage banking business including,
without limitation, making or acquiring, for its own
account or for the account of others, loans and other
extensions of credit and servicing loans and other extensions of credit; acting as investment adviser and
manager to real estate investment trust; providing bookkeeping or data processing services for Manufacturers
Hanover Corporation, its subsidiaries and affiliates,
and storing and processing other banking, financial, or
related economic data such as performing payroll, accounts receivable or billing services) at 8111 Gatehouse
Road, Falls Church, Virginia, through its subsidiary,
Citizens Mortgage Corporation and its subsidiary, Royal
Oak Mortgage Company.

3-23-76

4

**Centran Corporation, Cleveland, Ohio, notification of
intent to engage in de_ novo activities (the handling of
consumer finance loans including loans to individuals
secured by mortgages on residential and personal property for a borrower, for a fee, commission or a charge,
purchasing 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) at Room 528, 1220 S.W. Morrison, Terminal
Sales Building, Portland, Oregon, through its whollyowned subsidiary, Colonial Financial Service, Inc.,
Birmingham, Alabama.

3-26-76

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




H.2
1976 No. 13

4

Rec eiv ed_ jCont^in u e d
**CcnLran Corporation, Cleveland, Ohio, notification of inCent to engage in de novo activities (making of consumer
finance loans (including loans to individuals secured by
second mortgages or deeds of trust on residential property), purchasing installment sales contracts; the sale
of credit life insurance and health and accident insurance at the request of borrowers in connection with
extensions of credit; the sale (as agent) of fire,
inland marine and extended coverage insurance on real
property, furniture and household goods, and vehicular
physical damage insurance on vehicles taken as collateral
on loans made or purchased and the servicing of loans
and other extensions of credit for any person) at 14333
Jefferson Davis Highway, Woodbridge, Virginia, through
its wholly-owned subsidiary, Major Finance Corporation
of Alexandria, Alexandria, Virginia.

3-26-76

4

**Pittsburgh National Corporation, Pittsburgh, Pennsylvania,
notification of intent to relocate de novo activities
(mortgage banking, including the making and selling of
mortgages for its own account and the accounts of others)
from 1401 W. Paces Perry Road, N.W., Atlanta, Georgia to
1900 Century Boulevard, Suite 5, Atlanta, Georgia,
through its wholly-owned subsidiary, The Kissell Company,
Springfield, Ohio.

3-22-76

6

**Alabama Bancorporation, Birmingham, Alabama, notification
of intent to engage in de novo 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 factoring company, a commercial finance company, a consumer finance company, or a mortgage
company; servicing loans and other extensions of credit
for any person; leasing personal property and equipment,
or acting as agent, broker, or adviser in leasing of
such property 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; additionally, as an
incident to its lending activities and if requested by

3-23-76

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




H. 2
1976 No. 13

Recolved Continued
its customers, such subsidiary will make provision with
an insurance carrier for credit life and accident and
health insurance that is directly related to loans to
such customers) at 2971 Flowers Road South, DeKalb
County, Georgia, through a subsidiary, Alabanc Financial
Corporation.
7

**National Detroit Corporation, Detroit, Michigan, notification of intent to engage in de novo activities (making, acquiring, and servicing for its own account and
for the account of others, mortgage loans and other
extensions of credit in connection with the purchase,
development, and/or improvement of real property and all
activities incidental thereto) at 11048 Warwick Boulevard,
Newport News, Virginia, through its subsidiary, NBD
Mortgage Company, Birmingham, Michigan.

10

10

3-26-76

BancOklahoma Corp., Tulsa, Oklahoma, for approval to acquire the shares of BancOklahoma Life, Inc., Tulsa,
Oklahoma.
**BancOklahoma Corp., Tulsa, Oklahoma, notification of intent to engage in de novo activities (making, acquiring,
and/or servicing for the account of BancOklahoma Service
Corp. or for the account of others, secured and unsecured
consumer loans and other extensions of credit to include
home improvement loans and revolving lines of credit and
to provide factoring accounts receivables, acceptances
and other commercial paper, and credit instruments) at
321 South Boston, Tulsa, Oklahoma, through a subsidiary,
BancOklahoma Service Corp.

10

CHAMBANCO, INC., Chambers, Nebraska, for approval to acquire
the assets of Adams & Adams Insurance Agency, Chambers,
Nebraska.

10

First National Insurance Agency, Incorporated, Exeter,
Nebraska, for permission to retain the assets of Dinneen
Insurance Agency, Exeter, Nebraska.

10

Stepp, Inc., Mission Hills, Kansas, for approval to retain
the shares of A.F. Stepp Investments, Inc., Kansas City,
Missouri.

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




3-22-76

H. 2
1976 No. 13

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Received Continued
**First Bancorp, Inc., Corsicana, Texas, notification of
intent to engage in de novo activities (establish a
mortgage loan business; making or acquiring, for its own
account or for the account of others, loans and other
extensions of credit upon real estate and to provide
servicing, warehousing, origination, and marketing of
mortgages) at 101 South Waco Street, Hillsboro, Texas,
through a subsidiary, Old Reliable Mortgage Co., Inc.
**First Bancorp, Inc., Corsicana, Texas, notification of
intent to engage in de novo activities (establish a
mortgage loan business; making or acquiring, for its own
account or for the account of others, loans and other
extensions of credit upon real estate and to provide
servicing, warehousing, origination, and marketing of
mortgages) at 2100 S. Washington, Kaufman, Texas,
through a subsidiary, Old Reliable Mortgage Co., Inc.

3-24-76

3-24-76

Approved
Citicorp, New York, New York, for approval to acquire
100 per cent of the voting shares of West Coast Credit
Corporation, Seattle, Washington.
National Detroit Corporation, Detroit, Michigan, for approval to acquire 100 per cent of the voting shares of
NDC Insurance Company, Detroit, Michigan.
First Tribune Insurance Agency, Inc., Tribune, Kansas,
for permission to retain the general insurance agency
buinsess (in a town with a population of less than
5,000) presently operated by Applicant on the premises
of The First National Bank of Tribune, Tribune, Kansas.
Delayed
**Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in de novo activities
(origination and sale of residential mortgages, servicing of residential mortgage loans; and insurance agency
for any insurance directly related to an extension of
credit or provision of other financial services or
otherwise sold as a matter of convenience to the purchaser) at 300 Duncan Street, Clearwater, Florida and
1443 West Schaumburg Road, Schaumburg, Illinois, through
a subsidiary, Mortgage Associates, Inc.

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




3-25-76

H. 2
1976 No. 13

1

Delayed Continued
**Industrial National Corporation, Providence, Rhode Island,
notification of intent to engage in de novo activities
(origination and sale of residential mortgages, servicing of residential mortgage loans; and insurance agency
for any insurance directly related to an extension of
credit or provision of other financial services or
otherwise sold as a matter of convenience to the purchaser) at 5813 Melton Drive, Oklahoma City, Oklahoma,
through a subsidiary, Mortgage Associates, Inc.

3-25-76

8

**First Tennessee National Corporation, Memphis, Tennessee,
notification of intent to engage in de novo activities
(making or acquiring, for its own account, interestbearing and discount loans and other extensions of
credit; and offering through the direct insurer or the
reinsurer, insurance that is directly related to an
extension of credit by the company or its subsidiaries)
at Suite 6, 1405 Stevenson Drive, Springfield, Illinois,
through a subsidiary, Crown Finance Corporation.

3-22-76

12

**Commercial Security Bancorporation, Ogden, Utah, notification of intent to engage in de novo activities (acting
as a lender in the making or acquiring of consumer
loans; CSB Leasing, Inc., will act as a regulated lender
as provided for under the provisions of the Utah Uniform
Consumer Credit Code) at 2491 Washington Boulevard,
Odgen; 3565 Harrison Boulevard, Ogden; 3775 Wall Avenue,
South Ogden; 124 West 4600 South, Washington Terrace; 79
South State Street, Salt Lake City; 2299 Highland Drive,
Salt Lake City; 130 West 2100 South, Salt Lake City;
5625 South Waterbury Way, Salt Lake City; 5101 South
State Street, Murray; 924 East Union Fort Boulevard,
Midvale; 201 North Main Street, Tooele; 50 West Main
Street, Grantsville; 185 South State Street, Orem; 207
North University Avenue, Provo; 3081 South State Street,
Salt Lake City; 290 South 1300 East, Salt Lake City; and
280 North Main Street, Logan; all located in Utah,
through its subsidiary, CSB Leasing, Inc.

3-26-76

2

Permitted
**Citicorp, New York, New York, notification of intent to
engage in d[e novo activities (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

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




3-22-76

H.2
3976 No. 13

Permitted Continued
sell insurance as follows:
group credit life/accident
and health insurance to cover the outstanding balances
on loans to borrowers in the event of their death, or,
to make the contractual monthly payments on the loans in
the event of the borrowers' disability; 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) at 2817
N.W. Vivion Road, Kansas City, Missouri, through its
subsidiary, Nationwide Financial Corporation of Missouri.
4

^ P i t t s b u r g h National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in d<2 novo activities
(mortgage banking, including the making, acquiring, and
servicing for its own account or the accounts of others,
loans and extensions of credit) at 148 Middle Avenue,
Elryia, Ohio, through its wholly-owned subsidiary, The
Kissell Company, Springfield, Ohio.

3-27-76

5

**Union Trust Bancorp, Baltimore, Maryland, notification of
intent to relocate de novo activities (making installment
loans to individuals for personal, family, or household
purposes; purchasing sales finance contracts executed in
connection with the sale of personal, family, or household goods or services; and acting as agent in the sale
of credit life and credit accident and health insurance
directly related to its extensions of credit) from 4409
Southern Avenue, Coral Hills, Maryland to 6037 Old
Marlboro Pike, Distict Heights, Maryland, through its
subsidiary, Landmark Financial Services, Inc.

3-22-76

6

**American Bancshares, Incorporated, North Miami, Florida,
notification of intent to engage in de novo activities
(acting as insurance agent or broker with respect to
credit life/accident and health insurance that is
directly related to the extension of credit by a bank or
bank related firm and credit life/accident and health
insurance that is directly related to the provision of
other financial services by a bank or bank related firm)
in Homestead, Florida, through a subsidiary, American
Bancshares Insurance Agency, Incorporated.

3-24-76

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




H.2
1976 No. 13

7

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Permitted Continued
**FBT Bancorp., South Bend, Indiana, notification of intent
to engage in de novo activities (making, acquiring, or
servicing loans or other extensions of credit for personal, family, household, or commercial purposes; the sale
of credit life/accident and health insurance in connection with the aforementioned extensions of credit) at
509 Broadway, Anderson, Indiana, through its subsidiary,
FBT Capital Corporation.

3-25-76

**First. Arkansas Bankstock Corporation, Little Rock, Arkansas,
notification of intent to engage in de novo activities
(making or acquiring, for its own account or the account
of others, loans and other extensions of credit such as
would be made for example, by a mortgage company (real
estate mortgage loans); servicing such loans; acting as
agent with respect to the sale of mortgage redemption
insurance, term life or other life or accident-health
insurance which is directly related to an extension of
credit by the company) at Consumer Center, 300 Exchange
Street, Hot Springs, Arkansas, through a subsidiary,
L.E. Lay & Company, Inc.

3-26-76

10

**First National Corporation of El Reno, Inc., El Reno,
Oklahoma, notification of intent to engage in de novo
activities (origination, processing, closing, and selling of single and multi-family residential FHA, VA, and
conventional mortgage loans) at 100 South Bickford, El
Reno, Oklahoma, through its wholly-owned subsidiary,
First National Mortgage Company, El Reno, Oklahoma.

3-22-76

12

**BankAmerica Corporation, San Francisco, California, notifleation of intent to relocate de novo activities (making or acquiring, for its own account loans and other
extensions of credit and servicing for itself or others
loans and other extensions of credit, such activities to
include, but not be limited to, the following: making
of consumer installment loans, purchasing installment
sales finance contracts, making loans and other extensions of credit to small businesses, and making loans
secured by real or personal property or a combination
thereof; acting as agent or broker for the sale of
credit life and credit accident and health insurance and
credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) from 6224 N. 43rd Avenue, Glendale, Arizona to
7802 N. 27th Avenue, Phoenix, Arizona, through its
subsidiary, FinanceAmeriea 0rud it Cor porntion.

3-26-76

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




H. 2
1976 No. 13

12

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Permltted Continued
**IB&T Corp., Pocateilo, Idaho, notification of intent to
engage in d_e novo activities (leasing personal property
and equipment, or acting as agent, broker, or adviser in
leasing of such property where at the inception of the
initial lease the effect of the transaction (and, with
respect to governmental entities only, reasonably
anticipated future transactions) will yield a return
that will compensate the lessor for not less than the
lessor's full investment in the property plus the
estimated total cost of financing the property over the
term of the lease, from: rentals; estimated tax benefits
(investment tax credit, net economic gain from tax
deferral from accelerated depreciation, and other tax
benefits with a substantially similar effect); the
estimated residual value of the property at the expiration of the initial term of the lease which in no case
shall exceed 20 per cent of the acquisition cost of the
property to the lessor and in the case of not more than
7 years in duration, such additional amount, which shall
not exceed 60 per cent of the acquisition cost of the
property as may be provided by an unconditional guarantee
by a lessee, independent third party or manufacturer,
which has been determined by the lessor to have the
financial resources to meet such obligation that will
assure the lessor of recovery of its investment and cost
of financing) at Center and Arthur Streets, Pocateilo,
Idaho.

12

**Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities
(making or acquiring, for its own account or for the
account of others, loans and extensions of credit including making consumer installment personal loans,
purchasing consumer installment sales finance contracts,
making loans to small businesses and other extensions of
credit such as would be made by a factoring company or a
commercial finance company; and acting as broker or
agent for the sale of credit-related life/accident and
health insurance and credit-related property and casualty
insurance) at 100 North Citrus Street, West Covina,
California, through its subsidiary, Security Pacific
Finance Corp.

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




3-25-76

3-25-76

H.2
1976 No. 13

12

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- 14 Permit:fed Continued
**Security Pacific Corporation, Los Angeles, California, notification of intent to engage in d £ novo activities
(the leasing and/or financing of personal property and
equipment and real property or acting as an agent,
broker, or adviser in the leasing and/or financing of
such property where at the inception of the initial
lease the effect of the transaction (and, with respect
to governmental entities only, reasonably anticipated
future transactions) will yield a return that will
compensate the lessor for not less than the lessor's
full investment in the property plus the estimated total
cost of financing the property over the term of the
lease) at 505 Northern Boulevard, Suite 300, Great Neck,
New York, through its subsidiary, Security Pacific
Leasing Corporation.
**Security Pacific Corporation, Los Angeles, California, notif ication of intent to engage in die novo activities
(the origination and acquisition of mortgage loans including development and construction loans on multifamily and commercial properties for its own account or
for the sale to others and the servicing of such loans
for others) at 8316 Clairemont Mesa Boulevard, San
Diego, California, through its subsidiary, Security
Pacific Mortgage Corporation.
(This is a correction
address from 7331 Clairemont Mesa Boulevard, San Diego,
California).
Reactivated
**FBT Bancorp., Inc., South Bend, Indiana, notification of
intent to engage in de novo activities (making, acquiring, or servicing loans or other extensions of credit
for personal, family, household, or commercial purposes;
the sale of credit life/accident and health insurance in
connection with the aforementioned extensions of credit)
at 509 Broadway, Anderson, Indiana, through its subsidiary,
FBT Capital Corporation,
Returned
**Centra.l Bankshares Corporation, Jonesboro, Georgia, notification of intent to engage in c[e novo activities (leasing of personal property) at 139 N. Main Street, Jonosboro, Georgia, 141 Forest Parkway, Forest Park, Georgia,
8596 Tara Boulevard, Jonesboro, Georgia, and 6611 Tara
Boulevard, Jonesboro, Georgia.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under de1egated authority.




3-25-76

3-22-76

3-24-76

3-22-76

H.2
1976 No. 13

12

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To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Received
**H.F. Ahmanson & Company, Beverly Hills, California, notification of intent to acquire Heritage Savings and
Loan Association, Bakersfield, California, through its
subsidiary, Home Savings and Loan Association.
Permitted
**Helmcrich & Payne, Inc., Tulsa, Oklahoma, notification of
intent to acquire additional stock in Atwood Oceanics,
Inc., Houston, Texas.

*

* * * *

Other Actions of the Board
Statement by Chairman Arthur F. Burns before the Senate
Committee on the Budget on the condition of the national
economy and the implications of prospective economic and
financial developments for public policy.
The Board published an interpretation of its regulation under
the Equal Credit Opportunity Act, which permits creditors
to modify a prescribed general notice of rights under
the Act with a reference to a similar State law and the
name and address of the relevant State enforcement
agency.
Statement by Governor Henry C. Wallich, before the Committee to Investigate a Balanced Federal Budget of the
Democratic Research Organization to present his personal
views on the outlook for an adequate supply of capital.
Statement by Governor Robert C. Holland, before the Senate
Committee on Banking, Housing and Urban Affairs on S.
2304, to discuss the Board's reasons for recommending
the enactment of legislation embodied in S. 2304.
Report on bill S. 2298, letter to Chairman Proxmire regarding the proposals for a modification to S. 2298, the
proposed Federal Bank Commission Act, stating Board 1 s
views.

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




3-18-76

3-22-76

H.2
1976 No.

13

16

Continued
The Board proposed for public comment a new regulation
(Regulation C) to implement the Home Mortgage Disclosure
Act of 1975 — which requires disclosure of m o r t g a g e
lending by geographic areas; the Board scheduled a h e a r ing on its proposal for April 22, it will accept comment
in writing through May 3.
New London State Bank, New London, Iowa, and Hillsboro
Savings B a n k , Hillsboro, Iowa, proposed acquisition by
Burlington Bank and Trust Company, Burlington, Iowa;
report to the Federal Deposit Insurance Corporation on
competitive factors.
***First National Bank of Dickson City, Dickson City, P e n n sylvania , proposed merger with First National Bank,
Carbondale, Pennsylvania, Carbondale, Pennsylvania.
***Barnett Banks of Florida, Inc., Jacksonville, Florida, extension of time to July 14, 1976, w i t h i n which to commence certain insurance activities.
***Ellis Banking Corporation, Bradenton, Florida, extension
of time to July 15, 1976, within which to acquire 51 per
cent or more of the outstanding shares of American Bank
of Fort Myers.
***Great Western Bank & Trust, Phoenix, Arizona, extension of
time to April 15, 1977, within which to divest of shares
of Tucson Aviation Center, Inc., and Allied Aircraft
Sales, Inc.
***Indcpendent Financial, Ltd., Brown Deer, Wisconsin, extension of time to June 14, 1976, within which to acquire
80 per cent or more of the voting shares of The Brown
Deer Rank, Brown Deer, Wisconsin.
***111inois National Bancorp, Inc., Springfield, Illinois,
extension of time to June 10, 1976, within which to
acquire 100 per cent of the voting shares (Less directors'
qualifying shares) of the successor by merger (:o The
Illinois National Bank of Springfield, Springfield,
I lli.no is.
***Mercantilo Bancorporation, Inc., additional extension
of time, from April 2, 1976, through July 1, 1976, to
acquire q 0 per cent or more of the voting shares of Bank
o f E1don , K1don, Missouri .

^processed on beha.lt vi




the Board ot Governors under delegated authority

H.2
1976 No. 13

17
Continued
***Texas Commerce Bancshares, Inc., Houston, Texas, extension
of time to June 27, 1976, within which to consummate the
acquisition by merger of First Texas Bancshares Corporation, Houston, Texas.
***Farmers Loan & Trust Company, Tipton, Indiana, to make an
investment in bank premises.
***Pan American Bank of Miami, Miami, Florida, to make an
investment in bank premises.
***Manchester Bank of St. Louis, St. Louis, Missouri, to exercise limited trust powers.
***State Bank, Fort Dodge, Iowa, extension of time to July
22, 1976, within which to establish a branch in the
vicinity of Second Avenue North at 27th Street, Fort
Dodge, Iowa.
***Intercoastal Bank, Fort Lauderdale, Florida, a proposed
new bank, extension of time until September 23, 1976,
within which to effect membership in the Federal Reserve
System and open for business.
***Crocker International Investment Corporation, San Francisco,
California, extension of time to October 11, 1976, within which to acquire shares of Crocker Servicos Limitada.
***Uni on International Bank, Los Angeles, California, extension of time to October 22, 1976, within which to increase its equity participation in Saitama-Union International (Hong Kong) Ltd.

***Processed on behalf of the Board of Governors under delegated authority.