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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
H.2, 1964 No. 9
Actions of the Board; Applications and Reports
Received During the Week Ending March 3, 1984
APPLICABLE
RESERVE BANK
ACTIONS OF THE BOARD
Statement by Chairman Paul A. Volcker before the Senate
Budget Committee to discuss monetary and fiscal policies.
Sun Bank of Tampa Bay, Tampa, Florida, an investment in
bank premises (Director, Division of Banking Supervision
and Regulation) ]_/
New York
First Interim Bank of Long Island, N.A., Glen Head, New
York, proposal to merge with the First National Bank of Long
Island, Glen Head, New York; report to the Comptroller
of the Currency on competitive factors. J_/
New York
Key Bank of Southeastern New York, N.A., Chester, New York,
proposal to merge with the First National Bank of Red
Hook, Red Hook, New York; report to the Comptroller of
the Currency on competitive factors. J_/
New York
Key Bank of Western New York, N.A., Wellsville, New York,
proposal to purchase 22 branch offices of the Bank of New
York, New York, New York; report to the Comptroller of
the Currency on competitive factors. ]_/
New York
Long Island Trust Company, N.A., Garden City, New York,
proposal to acquire certain assets and assume certain
liabilities of a branch office of the Dime Savings Bank
of New York, F.S.B., New York, New York; report to
the Comptroller of the Currency on competitive factors.
New York
1/
Bank of New York, New York, New York, extension of time
to March 1, 1985, within which to establish a branch in
the vicinity of the intersection of Anderson Hill Road
and Lincoln Avenue, Town of Harrison, New York. 1/
Application processed on behalf of the Board of Governors under
delegated authority.
]_/
H.2, 1984 No. 9
- 2 ACTIONS OF THE BOARD - Continued
Philadelphia
Merchants of Shenandoah Dan-Corp, Shenandoah, Pennsylvania,
extension of time to May 29, 1984, within which to
become a bank holding company through the acquisition
of 100 percent of the voting shares of The Merchants
National Bank, Shenandoah, Pennsylvania. J_/
Philadelphia
NCB Financial Corporation, Williamsport, Pennsylvania,
extension of time to June 1, 1984, within which to acquire
Tri-County National Bank, Middleburg, Pennsylvania. V
Richmond
First Virginia Bank - Eastern Shore, Onancock, Virginia,
extension of time to April 6, 1984, within which to merge
with The Peoples Trust Bank, Exmore, Virginia. ]_/
Richmond
New Rock Hill National Bank, Rock Hill, South Carolina,
an organizing bank, proposed merger with Rock Hill
National Bank, Rock Hill, South Carolina; report to the
Comptroller of the Currency on competitive factors. 1/
Richmond
Bank of Goochland, Goochland, Virginia, an investment in
bank premises. 1/
Atlanta
Southeast
of time
Bank of
de novo
Atlanta
Peoples Bartow Corporation, Taylorsville, Georgia,
extension of time to June 1, 1984, within which to become
a bank holding company through the acquisition of
Peoples Bank of Bartow County, Taylorsville, Georgia. 1/
Chicago
Warren Bank, Warren, Michigan, an investment in bank
premi ses. ]_/
Chicago
Davenport Bank and Trust Company, Davenport, Iowa, an
investment in bnak premises. 1/
Chicago
LSNB Bank, National Association, LaSalle, Illinois, proposal
to merge with LaSalle National Bank, LaSalle, Illinois,
under the charter of LSNB Bank, National Association and
title of LaSalle National Bank; report to the Comptroller
of the Currency on competitive factors. 1/
]J
Banking Corporation, Miami, Florida, extension
to June 9, 1984, within which to acquire Southeast
St. Johns, Ponte Vedra Beach, Florida, a
bank. 1/
Application processed on behalf of the Board of Governors under
delegated authority.
- 3 -
H.2, 1984 No. 9
ACTIONS OF THE BOARD - Continued
Chicago
Oceana County Savings Bank, Hart, Michigan, proposal to
merge with New Oceana Bank, Hart, Michigan, under the
charter and title of The Oceana County Savings Bank;
report to the Federal Deposit Insurance Corporation on
competitive factors.
y
Chicago
FNR National Bank, Rochester, Indiana, proposal to merge
with The First National Bank of Rochester, Rochester,
Indiana, under the charter of FNR National Bank, and
title of The First National Bank of Rochester; report
to the Comptroller of the Currency on competitive
factors,
y
Chicago
Hinsdale Bancshares, Inc., Hinsdale, Illinois, extension
of time to April 1, 1984, within which to become a bank
holding company through the acquisition of 100 percent
of the voting shares of the successor by merger to Bank
of Hinsdale, Hinsdale, Illinois,
y
Chicago
Chicago
First Sioux Bancshares, Ltd., Sioux Center, Iowa, extension
of time to June 7, 1984, within which to become a bank
holding company through the acquisition of 100 percent
of the voting shares of the successor by merger to The
First National Bank of Sioux Center, Sioux Center, Iowa,
y
NBD Bancorp, Inc., Detroit, Michigan, extension of time to
May 29, 1984, within which to acquire 100 percent of the
voting shares of the successor by consolidation to
Pontiac State Bank, Pontiac, Michigan,
y
Chicago
Comerica Incorporated, Detroit, Michigan, extension of time
to May 29, 1984, within which to acquire 25 percent or
more of the voting shares of Pontiac State Bank, Pontiac,
Michigan. 1/
St. Louis
State Bank of Virden, Virden, Illinois, proposal to merge
with SBV Bank, Virden, Illinois; report to the Federal
Deposit Insurance Corporation on competitive factors,
y
St. Louis
First American National Bank of Jackson, Jackson, Tennessee,
proposal to merge with First American Nationl Bank of
Milan, Milan, Tennessee, and First American National
Bank of Obion County, Union City, Tennessee; report to the
Comptroller of the Currency on competitive factors,
y
1/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No . 9
- 4 ACTIONS OF THE BOARD - Continued
Kansas City
Gering National Bank and Trust Company, Gering, Nebraska,
proposal to merge with Pioneer Savings Company,
Gering, Nebraska, under the charter and title of Gering
National Bank and Trust Company, Gering, Nebraska;
report to the Federal Deposit Insurance Corporation
on competitive factors. y
Kansas City
First National Bank of Grand Island, Grand Island, Nebraska,
proposal to merge with First Savings Company of Grand
Island, Grand Island, Nebraska, under the charter and
title of the First National Bank of Grand Island, report
to the Federal Deposit Insurance Corporation on competitive
factors, y
Kansas City
Bank of the Valley, Bellwood, Nebraska, proposal to acquire
assets and liabilities of Bellwood Cooperative Credit
Association, Bellwood, Nebraska, under the charter and
title of Bank of the Valley, Bellwood, Nebraska; report
to the Federal Deposit Insurance Corporation on com
petitive factors. 1/
y
Application processed on behalf of the Board of Governors under
delegated authority.
5
H.2, 1984 No. 9
ACTIONS OF THE BOARD - Continued
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
New York
Approved
The Bank of New York, New York, New York. To establish
an offsite electronic facility at Reader's Digest
Association, Inc., Leonard Park Office Plaza, Building
#3, 100 South Bedford Road, Village of Mount Kisco,
Westchester County, New York. ]_/
New York
The Bank of New York, New York, New York. To establish
a branch at 610 Broad Hollow Road, Melville, Suffolk
County, New York. ]_/
New York
Manufacturers Hanover Trust Company, New York, New York.
To establish an offsite electronic facility to be located
within the Delta Airlines Terminal Building - "Delta
Flight Center-Laguardia" in Laguardia Airport, Flushing,
Queens, New York. ]_/
Atlanta
The Peoples Bank and Trust Company, Selma, Alabama. To
establish a branch at the Satterfield Plaza Shopping
Center, Selma, Alabama. ]_/
Atlanta
Sun Bank of Ocala, Ocala, Florida. To establish a branch at
State Road 200 at 1-75, Marion County, Florida. ]_/
San
Franci sco
Valley Bank and Trust Company, Salt Lake City, Utah. To
establish a branch office in the vicinity of 300 West
and South Temple Streets in Salt Lake City, Utah. 1/
*
*
*
★
*
Applications and Notifications for International
Investments and Other Actions Pursuant to Sections 25 and 25(a)
of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14)
____________ of the Bank Holding Company Act of 1956, as amended_________
New York
1/
Approved
Citicorp International Trading Company, Inc., New York,
New York, no objection by Citicorp, New York, New York,
for Citicorp International Trading Company, Inc., ("CITC")
to engage in freight forwarding.
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
- 6 -
ACTIONS OF THE BOARD - Continued
Cleveland
Richmond
Richmond
Society Corporation, Cleveland, Ohio: no objection of its
intent to acquire 28.6 percent of the shares of Export
Partnership for International Trade, Inc., Cleveland,
Ohio.
Forty-Five Day Notification Period Waived
Equitable Bancorporation, Baltimore, Maryland, no objection
to establish a wholly-owned offshore funding vehicle to
be named Equitable Overseas Finance, Curacao, Netherlands
Antilles.
Equitable Bank, National Association, Baltimore, Maryland:
no objection to establish Equitable Bank (Bahamas)
Limited, Nassau, Bahamas.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Boston
Approved
First of Boston Holding Corporation, Boston, Massachusetts,
for approval to acquire 100 percent of the shares of the
successor by merger to Casco-Northern Corporation,
Portland, Maine and indirectly acquire Casco Northern
Bank N.A., Portland, Maine.
Boston
First Coastal Banks, Inc., Portsmouth, New Hampshire, for
approval to acquire 100 percent of the voting shares of
the First National Bank of Portsmouth, Portsmouth, New
Hampshire. J_/
Boston
NTC Corp., Nashua, New Hampshire, for approval to acquire
100 percent of the voting shares of Nashua Trust Company,
Nashua, New Hampshire. ]_/
Boston
Woburn National Corporation, Woburn, Massachusetts, for
approval to acquire 100 percent of the voting shares of
Woburn National Bank, Woburn, Massachusetts. 1/
V
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
- 7 ACTIONS OF THE BOARD - Continued
Philadel phi a
Citizens Financial Services, Inc., Mansfield, Pennsylvania,
for approval to acquire 100 percent of the voting shares
of First Citizens National Bank, Mansfield, Pennsylvania. J/
Philadelphia
Upper Valley Bancorp, Inc., Olyphant, Pennsylvania, for
approval to acquire 100 percent of the voting shares of
The National Bank of Olyphant, Olyphant, Pennsylvania. 1_/
Richmond
F&M Bank Corp., Timberville, Virginia, for approval to
acquire 100 percent of the voting shares of the successor
by merger to Farmers and Merchants Bank of Rockingham,
Timberville, Virginia. 1/
Richmond
Liberty Bancorp, Inc., Charleston, South Carolina, for approval
to acquire at least 80 percent of the voting shares of
Liberty National Bank, Charleston, South Carolina. !_/
Atlanta
Bunkie Bancshares, Inc., Bunkie, Louisiana, for approval to
acquire at least 80 percent of the voting shares of
Bunkie Bank and Trust Company, Bunkie, Louisiana. 1_/
Atlanta
Teche Bancshares, Inc., St. Martinville, Louisiana, for
approval to acquire at least 67 percent of the voting
shares of Teche Bank & Trust Co., St. Martinville,
Louisiana. V
Atlanta
United Security Bancshares, Inc., Canton, Georgia, for approval
to acquire at least 91.1 percent of the voting shares of
the United Security Bank, Sparta, Georgia. 1/
Chicago
Decatur Financial, Inc., Decatur, Indiana, for approval to
acquire 100 percent of the voting shares of Decatur Bank
and Trust Company, Decatur, Indiana. J_/
Chicago
Greencastle Bancorp, Inc., Greencastle, Indiana, for approval
to acquire at least 80 percent of the voting shares of
Greencastle Investment Corporation, Greencastle, Indiana,
and indirectly acquire First Citizens Bank and Trust Company,
Greencastle, Indiana. 1/
Chicago
Iowa First Bancshares Corp., Muscatine, Iowa, for approval
to acquire 100 percent of the voting shares of First
National Bank of Muscatine, Muscatine, Iowa, and at least
80 percent of First National Bank in Fairfield, Fairfield,
Iowa. 1/
1/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
- 8 ACTIONS OF THE BOARD - Continued
Chicago
S.B. Corporation, Wisconsin Rapids, Wisconsin, for approval
to acquire The Wood County National Bank of Wisconsin
Rapids, Wisconsin Rapids, Wisconsin and at least 31
percent of the voting shares of WCN Bancorp, Inc.,
Wisconsin Rapids, Wisconsin (formerly Fort Bancorp,
Inc.) and indirectly acquire The Bank of Fort Atkinson,
Fort Atkinson, Wisconsin. ]_/
Chicago
West Bancorporation, West Des Moines, Iowa, for approval to
acquire 100 percent of the voting shares of West Des
Moines State Bank, West Des Moines, Iowa and Woods Mill
Forty Bank, St. Louis County, Missouri.
St. Louis
Mega Bancshares, Inc., St. Louis, Missouri, for approval
to acuqire 100 percent of the voting shares of Santa Ana
Bancorp, Inc., St. Ann, Missouri and indirectly 98.75
percent of Bank of St. Ann, St. Ann, Missouri.
y
St. Louis
NSB, Inc., Metropolis, Illinois, for approval to acquire
at least 86.96 percent of the voting shares of The
National State Bank of Metropolis, Metropolis, Illinois. ]_/
St. Louis
Second Illinois Bancorp, Inc., Manchester, Missouri, for
approval to acquire 88.16 percent of First Bank and
Trust Company in Greenville, Greenville, Illinois;
90.67 percent of The Farmers and Merchants Bank of
Vandalia, Vandalia, Illinois; and 84.26 percent of
First National Holding Corporation of O'Fallon, O'Fallon,
Illinois, which holds 83.30 percent of First Bank and
Trust Company of O'Fall on, O'Fall on, Illinois. J_/
Minneapolis
Elkton Bancshares, Inc., Elkton, Minnesota, for approval
to acquire 100 percent of the voting shares of Farmers
State Bank of Elkton, Elkton, Minnesota, y
Kansas City
Intra Financial Corp., Clyde, Kansas, for approval to acquire
at least 80 percent of the voting shares of The Exchange
Bank of Clyde, Clyde, Kansas,
y
Kansas City
Roxbury Bancshares, Inc., Roxbury, Kansas, for approval to
acquire 96 percent of the voting shares of Roxbury
State Bank, Roxbury, Kansas. J_/
Kansas City
Shickley State Company, Shickley, Nebraska, for approval
to acquire at least 96.07 percent of the voting shares of
Shickley State Bank, Shickley, Nebraska.
U
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
- 9 ACTIONS OF THE BOARD - Continued
Dal las
Continental Bancshares, Inc., Dallas, Texas, for approval
to acquire 100 percent of the voting shares of Bank of
Arlington, Arlington, Texas; Mockingbird Bancshares,
Inc. (formerly Continental Bancshares), Dallas,
Texas; and indirectly Bank of Texas, Dallas, Texas; and
Wynnewood Bancshares, Inc., Dallas, Texas, and indirectly
Wynnewood Bank & Trust, Dallas, Texas.
Dal 1as
Herring Bancorp, Inc., Vernon, Texas, for approval to
acquire at least 80 percent of the voting shares of The
Herring National Bank of Vernon, Vernon, Texas. 1/
Dallas
Prosperity Bancshares, Inc., Edna, Texas, for approval to
acquire 100 percent of the voting shares of Allied
First Bank, Edna, Texas. 1/
Dallas
Tensas Bancshares, Inc., NewelIton, Louisiana, for approval
to acquire at least 80 percent of the voting shares of
Tensas State Bank, Newellton, Louisiana. 1/
San
Francisco
ENB Holding Company, Escondido, California, for approval
to acquire at least 80 percent of the voting shares of
Escondido National Bank, Escondido, California. 1_/
San
Francisco
HNB Financial Group, Huntington Beach, California, for
approval to acquire 100 percent of the voting shares of
the successor by merger to Huntington National Bank,
Huntington Beach, California. ]_/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Boston
Atlanta
T7
~
Approved
Bank of Boston Corporation, Boston, Massachusetts, for
approval to acquire indirectly 100 percent of the
shares of the successor by merger to Casco-Northern
Corporation, Portland, Maine and indirectly acquire
Casco Northern Bank N.A., Portland, Maine.
Trust Company of Georgia, Atlanta, Georgia, for approval
to acquire 100 percent of the voting shares of F.N.B.I.W.
Financial Corporation, Waycross, Georgia and indirectly
First National Bank in Waycross, Waycross, Georgia. J_/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
- 10 ACTIONS OF THE BOARD - Continued
Chicago
The Baraboo Bancorporation, Inc., Baraboo, Wisconsin,
for approval to acquire at least 80 percent of the voting
shares of Viroqua Bankshares, Inc., Viroqua, Wisconsin,
and indirectly acquire State Bank of Viroqua, Viroqua,
Wisconsin. 1/
Chicago
Financial National Bancshares, Co., Elgin, Illinois, for
approval to acquire 100 percent of the voting shares of
The Larkin Bank, Elgin, Illinois. J_/
Chicago
Mahaska Investment Company, Oskaloosa, Iowa, for approval
to acquire 100 percent of the voting shares of Mahaska
State Bank, Oskaloosa, Iowa. J_/
Chicago
Midwest Financial Group, Inc., Peoria, Illinois, for
approval to acquire 100 percent of the voting shares
of Pioneer Bank of Peoria, Peoria, Illinois. J_/
Chicago
River Valley Bancorporation, Rothschild, Wisconsin, for
approval to acquire at least 80 percent of the voting
shares of New London National Bank, New London,
Wisconsin. 1_/
Chicago
WCN Bancorp, Inc., Wisconsin Rapids, Wisconsin (formerly
Fort Bancorp, Inc., Fort Atkinson, Wisconsin), for
approval to acquire at least 80 percent of the voting
shares of The Wood County National Bank of Wisconsin
Rapids, Wisconsin Rapids, Wi sconsi n . _]_/
St. Louis
Sharp Bancshares, Inc., Cave City, Arkansas, for approval
to acquire at least 80 percent of the voting shares of
Bank of Evening Shade, Evening Shade, Arkansas. V
Mi nneapoli s
American National Agency, Inc., Nashwauk, Minneaota,
for approval to acquire an additional 35 percent
of American National Bank, Nashwauk, Minnesota. J_/
Minneapolis
First State Banking Corporation, Alcester, South Dakota,
for approval to acquire an additional 75.98 percent of
the voting shares of State Bank of Alcester, Alcester,
South Dakota.
Kansas City
Clark Bancshares, Inc., Clarks, Nebraska, for approval
to acquire 51 percent of the voting shares of Tereco,
Inc., Silver Creek, Nebraska and indirectly Farmers
State Bank, Silver Creek, Nebraska. 1/
1_/
Application processed on behalf of the Board of Governors under
delegated authority.
H.2, 1984 No. 9
11
ACTIONS OF THE BOARD - Continued
Kansas City
Security Corporation, Duncan, Oklahoma, for approval to
acquire at least 52.37 percent of the voting common
shares of Cache Road National Bank of Lawton, Lawton,
Oklahoma. ]_/
Dal las
City National Bancshares, Inc., Carrollton, Texas, for
approval to acquire at least 80 percent of the voting
shares of Trinity Mills National Bank, Carrollton, Texas,
a proposed new bank. J_/
Dallas
First Bancorporation of Cleveland, Cleveland, Texas, for
approval to acquire 100 percent of the voting shares of
First National Bank of Atascocitia, Humble, Texas,
a proposed new bank. J_/
Dallas
Fresnos Bancshares, Inc., Los Fresnos, Texas, for approval
to acquire at least 80 percent of the voting shares of
Sunrise Bank, Brownsville, Texas. 1/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Approved
Southern Bancshares, Inc., Atlanta, Georgia, for approval
to merge with F.N.B.I.W. Financial Corporation, and
indirectly acquire First National Bank in Waycross,
both of Waycross, Georgia. 1/
Atlanta
* * * * *
To Expand a Bank Holding Company Pursuant to
Section 4(c)(8) of the Bank Holding Company Act of 1956
Kansas City
1/
Withdrawn
Mid-Continent Corporation, Kansas City, Missouri, for
approval to acquire 100 percent of the voting shares of
Rocky Mountain Mortgage and Investment Company, Leadville,
Ohio, which engages in the origination and sale of
mortgage loans.
Application processed on behalf of the Board of Governiors under
delegated authority.
H.2, 1984 No. 9
- 12 -
ACTIONS OF THE BOARD - Continued
St. Louis
Approved
Mega Bancshares, Inc., St. Louis, Missouri, for approval
to engage in the insurance business presently conducted by
Santa Ana Agency, St. Ann, Missouri. _]/
St. Louis
Union Planters Corporation, Memphis, Tennessee, for approval
to acquire Infoware Corporation, Nashville, Tennessee,
which is engaged in leasing, data processing and management
consulting activities. J_/
Minneapolis
Norwest Corporation, Minneapolis, Minnesota, for approval
to engage de novo, through its subsidiaries, Norwest
Financial Massachusetts, Norwest Financial Maryland,
Inc. and Norwest Financial Leasing, Inc., in the sale
of property and casualty insurance in connection with
extensions of credit by these subsidiaries.
Kansas City
Clark Bancshares, Inc., Clarks, Nebraska, for approval to
engage in general insurance agency activities in a town
with a population of less than 5,000 indirectly through
Tereco, Inc., Silver Creek, Nebraska. 1/
San
Francisco
Boston
New York
J/
3/
Delayed
Business Bancorp, San Jose, California, notification
of intent to engage in de novo activities (engaging
in community development activities in accordance
with the Board's Regulation Y) these activities will
be conductd in the State of California, through its
subsidiary, Bancorp BIDCO (3/2/84)
Permitted
Old Stone Corporation, Providence, Rhode Island,
notification of intent to engage in de novo
activities (in the arranging for third parties
for the financing of commercial income property loans)
this activity would be conducted in the cities of
Seattle, Washington; Portland, Oregon and Sacramento,
California, through its subsidiary, Old Stone
Mortgage Corporation (3/3/84) V
Citicorp, New York, New York, requests permission
to establish two de novo offices engaging in the
following activities (the making or acquiring of
Application processed on behalf of the Board of Governors under
delegated authority.
4(c)(8) notification processed by Reserve Bank on behalf of the
Board of Governors under delegated authority.
H.2, 1984 No. 9
13 ACTIONS OF THE BOARD - Continued
loans and other extensions of credit, secured or
unsecured, for consumer and other purposes; the sale
of credit related life and accident and health insurance
by licensed agents or brokers, as required; the sale
of consumer oriented financial management courses;
the servicing, for any person, of loans and other
extensions of credit; the making, acquiring, and
servicing, for its own account and for the account of
others, of extensions of credit to individuals secured
by liens on residential or non-residential real
estate; the sale of mortgage life and mortgage disability
insurance directly related to extensions of mortgage
loans) at 6230 Fairview Road, Charlotte, North Carolina,
through its subsidiaries, Citicorp Person-to-Person
Financial Center, Inc. (North Carolina) and
Citicorp Homeowners, Inc. (2/27/84) 3/
Philadelphia
NCB Financial Corporation, Williamsport, Pennsylvania,
notification of intent to engage in de novo activities
(in underwriting, as reinsurer, credit TT7e and
accident and health insurance directly related to
extensions of credit by Northern Central Bank) these
activities will be conducted from offices located in
Williamsport, Pennsylvania, serving the State of
Pennsylvania, through its subsidiary, Northern Central
Life Insurance Company (3/1/84) 3/
Atlanta
Central Bank Shares,Inc., Orlando, Florida, notification
of intent to engage in de novo activities (in the sale,
support and development of financial institution soft
ware) these activities would be conducted in the Sixth
Federal Reserve District, through its subsidiary,
Software Development, Inc. (3/1/84) V
Minneapolis
Norwest Corporation, Minneapolis, Minnesota, notification
of intent to retain shares in its indirect subsidiary,
Norwest Modern Home Capital, Inc., and thereby to engage
nationwide in a general residential manufactured housing
finance business, including origination of such loans,
the purchase of these loans from affiliated banks and
from others, the assembly of loans into blocks for
investors, the sale and servicing of these loans, and
the placement of inventory financing [floorplan financing]
for manufactured housing dealers with a qualified
lender or lenders (2/29/84) 2J
3/
~~
4(c)(8) notification processed by Reserve Bank on behalf of the
Board of Governors under delegated authority.
H.2, 1984 No. 9
- 14 ACTIONS OF THE BOARD - Continued
Dal 1as
Ranco Bancshares, Inc., Spur, Texas, notification of
intent to engage in de novo activities (making and
acquiring of commercial and installment loans including
the extension of direct loans to consumers and the
purchase and sale of loan participations) these activities
would be conducted in the State of Texas only (3/2/84) 3/
San
Francisco
BankAmerica Corporation, San Francisco, California,
notification of intent to engage in de novo activities
(in the activities of securities brokerage, consisting
principally of buying and selling securities solely
upon the order and for the account of customers, and
of extending margin credit in conformity with
Regulation T) at 25 Cannon Street, London, England,
having a worldwide geographic service area, through
its subsidiary, Charles Schwab & Co., Inc. (a
California corporation)
(3/3/84) 3/
San
Francisco
BankAmerica Corporation, San Francisco, California,
notification of intent to engage in de novo
activities (in data processing activities pursuant
to Sections 225.4(a)(8) and 225.123(e) of Regulation Y
and Section 4(c)(8) of the Bank Holding Company Act,
including providing for the internal operations of
BankAmerica Corporation and its subsidiaries and
to others data processing and transmission services,
data bases or facilities and access to such services,
data bases or facilities by any technologically
feasible means, and other activities incidental
thereto) these activities will be conducted in all
fifty States and the District of Columbia, through
its subsidiary, Decimus Corporation (a California
corporation)
(2/26/84) 3/
* * * * *
Redemption of Shares
Atlanta
Approved
FPB Corporation, Gallatin, Tennessee. 1/
]_/ Application processed on behalf of the Board of Governors under
3/
delegated authority.
4(c)(8) notification processed by Reserve Bank on behalf of the
Board of Governors under delegated authority.
H.2, 1984 No. 9
- 15 ACTIONS OF THE BOARD - Continued
Chicago
Southern Wisconsin Banchsares Corporation, Mineral Point,
Wi sconsin. ]_/
Kansas City
Smith Center Bancshares, Inc., Smith Center, Kansas.
Kansas City
Wausa Banshares, Inc., Wausa, Nebraska. 1/
1/
Application processed on behalf of the Board of Governors under
delegated authority.
]J
H.2, 1984 No. 9
16 APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to
Section 9 of the Federal Reserve Act
Cleveland
Toledo Trust Company, Toledo, Ohio. To establish a
drive-up branch at 3232 Executive Parkway, Lucas
County, Toledo, Ohio, and to establish an off-site
electronic facility at the University of Toledo
Student Union, 2801 West Bancroft Street, Toledo,
Ohio. 2/
Richmond
Arlington Bank, Arlington, Virginia. To establish a branch
at 1550 Wilson Boulevard, Arlington, Virginia. 2/
Atlanta
Orange State Bank, Miami, Florida. To establish a branch
located at 8900 Biscayne Blvd., Miami Shores, Florida. 2/
Applications and Notifications for International
Investments and Other Actions Pursuant to Sections 25 and 25(a)
of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14)
__________ of the Bank Holding Company Act of 1956, as amended___________
New York
Citibank Overseas Investment Corporation, Wilmington,
Delaware: prior notification of its intent to acquire
additional shares of Diners Club de France S.A.,
Paris, France.
Atlanta
First National Bankshares, Inc., Houma, Louisiana: prior
notification of its intent to establish a de novo
export trading company, to be known as First Export
Corporation, Houma, Louisiana.
★ * ★ * *
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
New York
2/
The Chase Manhattan Bank, New York, New York: prior
notification of its intent to establish an initial branch
in Monte Carlo, Monaco.
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 9
17
APPLICATIONS RECEIVED - Continued
New York
The Chase Manhattan Bank, N.A., New York, New York:
prior notification of its intent to establish an initial
branch in Muscat/Muttrah, Oman.
New York
The Chase Manhattan Bank, New York, New York; prior
notification of its intent to establish an initial branch
in Lisbon, Portugal.
★ ★ ★ ★ ★
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Boston
First of Boston Holding Corporation, Boston, Massachusetts,
for approval to acquire 100 percent of the shares of the
successor by merger to Casco-Northern Corporation, Port
land, Maine and indirectly acquire Casco Northern Bank
N.A., Portland, Maine. 2/
New York
Citicorp Holdings, Inc., Wilmington, Delaware, for approval
to acquire 100 percent of the voting shares of Citibank
(Delaware), New Castle, Delaware; Citibank (South
Dakota), N.A., Sioux Falls, South Dakota; and Citibank
(Maryland), National Association, Towson, Maryland, a
proposed new bank. 2/
Atlanta
Nicholls State Bancshares, Inc., Nicholls, Georgia, for
approval to acquire Nicholls State Bank, Nicholls, Georgia.
Atlanta
Professional Bancorp, Coral Gables, Florida, for approval
to acquire 100 percent of the voting shares of Dixie
National Bank of Dade County, Miami, Florida. 2/
Atlanta
South Louisiana Financial Corporation, Houma, Louisiana,
for approval to acquire at least 98.235 percent of the
voting shares of South Louisiana Bank, Houma, Louisiana.
2j
Chicago
Elkhart Bancorp, Inc., Elkhart, Indiana, for approval to
acquire 100 percent of the voting shares of Citizens
Northern Bank of Elkhart, Elkhart, Indiana. 2/
Chicago
First Lake Forest Corporation, Lake Forest, Illinois,
for approval to acquire 100 percent of the voting shares
of The First National Bank of Lake Forest, Lake Forest. 2/
Yj
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 9
- 18 APPLICATIONS RECEIVED - Continued
Chicago
Two Rivers Bancorp, Inc., Prophetstown, Illinois, for
approval to acquire 100 percent of the voting shares of
the Farmers National Bank of Prophetstown, Prophetstown,
Illinois, The First National Bank of Manlius, Manlius,
Illinois, and Tampico National Bank, Tampico, Illinois. 2/
Mi nneapoli s
Battle Lake Bancshares, Inc., Battle Lake, Minnesota, for
approval to acquire at least 80 percent of the voting
shares of The First National Bank of Battle Lake, Battle
Lake, Minnesota. 2/
Minneapolis
Chokio Agency, Inc., Chokio, Minnesota, for approval to
acquire at least 91.7 percent of the voting shares of
Chokio State Bank, Chokio, Minnesota. 2]
Minneapolis
Kent Bancshares, Inc., Kent, Minnesota, for approval to
acquire 91 percent of the voting shares of Kent State bank,
Kent, Mi nnesota. 2/
Kansas City
NLM Corp., Oklahoma city, Oklahoma, for approval to
acquire at least 97.27 percent of the voting shares of
First Continental Bank and Trust Company of Del City,
Del City, Oklahoma. 2/
Dallas
Texas Regional Bancshares, Inc., McAllen, Texas, for approval
to acquire 100 percent of the voting shares of Texas State
Bank, McAllen, Texas and Harlingen State Bank, Harlingen,
Texas. 2/
Dal las
Willow Bend Bancshares, Inc., Plano, Texas, for approval
to acquire at least 80 percent of the voting shares of
Willow Bend National Bank, Plano, Texas. 2/
San
Francisco
BNB Bancorp, Burbank, California, for approval to acquire
100 percent of the voting shares of Burbank National
Bank, Burbank, California, a proposed new bank. 2/
* * * * *
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 9
19
APPLICATIONS RECEIVED - Continued
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
New York
First Jersey National Corporation, Jersey City, New Jersey,
for approval to acquire at least 10.06 percent of the
voting shares of The Peoples National Bank of Central
Jersey, Piscataway, New Jersey. 2/
New York
Midi antic Banks Inc., Edison, New Jersey, for approval to
acquire 100 percent of the voting shares of Union Trust
Company of Wildwood, Wildwood, New Jersey. 2]
Philadelphia
USBANCORP, Inc., Johnstown, Pennsylvania for approval to
acquire 100 percent of the voting shares of Three Rivers
Bank & Trust Company, Pittsburgh, Pennsylvania. 2J
Cl eveland
Ohio Bancorp, Youngstown, Ohio, for approval to acquire
6.10 percent of the voting shares of The Union Commercial
& Savings Bank, East Palestine, Ohio. 2/
Atlanta
Colony Bankcorp, Inc., Fitzgerald, Georgia, for approval
to acquire 100 percent of the voting shares of Pitts
Banking Company, Pitts, Georgia. 2/
Atlanta
Independent Community Banks, Inc., Sanibel, Florida, for
approval to acquire at least 81.33 percent of the voting
shares of Community National Bank, Kissimmee, Florida, a
de novo bank. 2j
Atlanta
Pan American Banks Inc., Miami, Florida, for approval to
acquire at least 99 percent of the voting shares of
Central Bank of Delray Beach, Delray Beach, Florida. 2j
Atlanta
Pan American Banks Inc., Miami, Florida, for approval to
acquire 100 percent of the voting shares of Royal Trust
Bank of Jacksonville, Jacksonville, Florida. 2J
Atlanta
Tucker Holding Company, Inc. and Tucker Bros., Inc., both
in Jacksonville, Florida, for approval to acquire 100
percent of the voting shares of Tucker Bank of Jackson
ville, Jacksonville, Florida, a de novo banks. 2]
Chicago
Whitney Corporation of Iowa, Atlantic, Iowa, for approval
to acquire 100 percent of the voting shares of SchroederGoodenow Management Co., Exira, Iowa. 2/
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 9
- 20 APPLICATIONS RECEIVED - Continued
Minneapolis
Charter 95 Corporation, Hudson, Wisconsin, for approval
to acquire at least 99.8 percent of the voting shares of
Hammond State Bank, Hammond, Wisconsin. 2/
Dallas
Chester State Bancshares, Inc., Chester, Texas, for approval
to acquire at least 60.8 percent of the voting shares of
The First State Bank, Colmesneil, Texas. 2/
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(5) of the Bank Holding Company Act of 1956
Atlanta
Citizens and Southern Georgia Corporation, Atlanta, Georgia,
for approval to merge with FSB Bancorp, Inc., Peachtree
City, Georgia, and indirectly Fayette State Bank, Peach
tree City, Georgia. 2/
To Expand a Bank Holding Company Pursuant to
Section 4(c)(8) of the Bank Holding Company Act of 1956
Boston
Old Stone Corporation, Providence, Rhode Island, notifi
cation of intent to engage in de novo activities (in
the origination, sale and servicing of first and second
mortgage loans and through its indirect subsidiary,
American Standard Insurance Agency, Inc., acting as an
agent in the sale of credit life and credit accident and
health insurance) at Suite 501, 1101 Kermit Drive,
Nashville, Tennessee, these activities would be conducted
nationwide, through its subsidiary, UniMortgage Corporation
(3/1/84)
New York
The Bank of New York Company, Inc., New York, New York,
requests permission to establish a de novo office
engaging in the following activities (originating,
servicing and selling mortgage loans on residential
properties) at 11110 N.E. 8th Street, Bellevue,
Washington, through its subsidiary, Arcs Mortgage,
Inc. (2/10/84)
2/
Application subject to Community Reinvestment Act. The Community
Affairs Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1984 No. 9
21
APPLICATIONS RECEIVED - Continued
New York
The Chase Manhattan Corporation, New York, New York,
requests permission to engage in the following activities
(making or acquiring for its own account and for the
account of others, loans and other extensions of credit,
both secured and unsecured including, but not limited
to, consumer and business lines of credit, installment
loans for personal, household and business purposes
and mortgage loans secured by real property; servicing
loans and other extensions of credit; and acting as
insurance agent for credit life insurance and credit
accident and health insurance directly related to such
lending and servicing activities) on a nationwide
basis, through its subsidiary, Chase Manhattan Financial
Services, Inc. (2/10/84)
New York
The Chase Manhattan Corporation, New York, New York, requests
permission to engage in the following activities (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 commercial finance or equipment finance
company including business installment lending as well
as unsecured commercial loans, servicing loans and other
extensions of credit; leasing personal property on a
full payout basis and in accordance with the Board's
Regulation Y, or acting as agent, broker or advisor in
so leasing such property, including the leasing of
motor vehicles) on a nationwide basis, through its
subsidiary, Chase Commercial Corporation (2/10/84)
New York
The Chase Manhattan Corporation, New York, New York,
requests permission to engage in the following activities
(making or acquiring for its own account or for the
account of others, loans and other extensions of
credit including, but not limited to, first and second
mortgages on one-to-four family residential properties,
servicing loans and other extensions of credit for any
person, selling mortgage loans in the secondary market,
and offering credit life insurance, accident and health
insurance and disabiality insurance directly related to
such lending and servicing activities) in the United
States of America, Puerto Rico and the United States
Virgin Islands, through its subsidiary, Chase Home
Mortgage Corporation (2/10/84)
New York
Citicorp, New York, New York, requests permission to
expand the activities of an existing office, including
the following activities (making or acquiring of loans
and other extensions of credit, secured or unsecured,
for consumer and other purposes) at 999 Plaza Drive,
Schaumburg Illinois and serving the entire State of
Wisconsin, through its subsidiary, Citicorp Acceptance
Company, Inc. (2/10/84)
H.2, 1984 No. 9
22 APPLICATIONS RECEIVED - Continued
New York
Marine Midland Banks, Inc., Buffalo, New York; the Hongkong
and Shanghai Banking Corporaiton, Hong Kong; Kellett
N.V., Curacao, Netherlands Antilles; and HSBC Holdings
B.V., Amsterdam, the Netherlands, request permission to
establish a de novo office engaging throughout the U.S.
without geographic limitation from all existing and
future offices in the following activities ((1) originating,
making, acquiring, and servicing, for its own account
or for the account of others, loans and other extensions
of credit, either unsecured or principally secured by
mortgages on residential or commercial properties or
leasehold interests therein; (2) acting as investment
or financial adviser to the extent of (A) serving as
the advisory company for a mortgage or real estate investment
trust, (B) furnishing general economic information and
advice on real estate matters, (C) providing portfolio
investment advice on real estate matters; and (3) arranging
arranging commercial real estate equity financing) in
Tysons Corner, Virginia, through its subsidiary, Marine
Midland Realty Credit Corporation
(2/14/84)
Richmond
NCNB Corporation, Charlotte, North Carolina, notification of
intent to engage in de novo activities (making direct
loans for consumer and other purposes, purchasing retail
installment notes and contracts, selling at retail money
orders having a face value of not more than $1,000 and
acting as agent for the sale of credit life, credit
accident and health and physical damage insurance directly
related to its extensions of credit, through its sub
sidiaries, TranSouth Financial Corporation and TranSouth
Financial Corporation of Florida; and making direct loans
for consumer and other purposes under the general usury
statutes, purchasing retail installment notes and contracts,
making direct loans to dealers for financing of inventory
[floor planning] and working capital purposes and acting
as agent for the sale of credit life, credit accident and
health and physical damage insurance directly related to its
extensions of credit, through its subsidiaries, TranSouth
Mortgage Corporation and TranSouth Mortgage Corporation of
Florida) throughout the United States (2/27/84)
Atlanta
Citizens and Southern Georgia Corporation, Atlanta, Georgia,
notification of intent to engage in de novo activities
(in consumer and commercial finance activities, including
the extension of direct loans to consumers, the purchase
and discount of retail and installment notes or con
tracts, real estate loans, the extension of direct loans
to dealers for the financing of inventory [floor planning],
and working capital purposes and other extensions of
H.2, 1984 No. 9
23 APPLICATIONS RECEIVED - Continued
credit, making, acquiring, servicing, or soliciting, for
its own account or for the account of others, loans and
other extensions of credit; acting as agent for the sale
of life, accident and health insurance directly related to
its extensions of credit; mortgage lending and mortgage
banking activities; the sale and issuance of travelers
checks and money orders; and providing data processing
and data transmission services, facilities or data bases)
these activities would be conducted throughout the
United States, through its subsidiaries, Family Credit
Services, Inc.; Family Credit Services, Inc. (ALA);
Family Credit Services, Inc. (FLA); Family Mortgage
Services, Inc.; Family Mortgage Brokers, Inc. and
Citizens and Southern Mortgage Company (2/27/84)
Atlanta
First Banchsares of Louisiana, Inc., Baton Rouge, Louisiana,
notification of intent to engage in de novo activities
(in originating, acquiring, selling and servicing, for its
own account and for the account of others, FHA, V.A,
conventional, residential and commercial mortgage loans,
second mortgage loans and secured and unsecured business
and consumer installment loans and other extensions of
credit to third parties; and acting as agent with respect
to credit life and credit disability insurance related
to extensions of credit, where the insurance is limited to
assuring repayment of the balance due on a specific
extension of credit in the event of death, disability or
involuntary unemployment of the debtor) these activities
would be conducted from an office to be located in the
Parish of St. Tammany, Louisiana, servicing the State of
Louisiana, through its subsidiary, Louisiana National
Mortgage Company (2/27/84)
Atlanta
Nicholls State Bancshares, Inc., Nicholls, Georgia, for
approval to engage de novo in consumer finance activities
through Full Service Financial, Inc., Pearson, Georgia.
Atlanta
Pickens County Bancshares, Inc., Jasper, Georgia, to acquire
the property and casualty business of Northeastern General
Insurance Agency of Jasper, Inc., Jasper, Georgia.
Chicago
Independence Bank Group, Inc., Waukesha, Wisconsin, notifi
cation of intent to engage in de novo activities (in
functions and activities of a "Fiduciary, agent and
custodial nature, in accepting and servicing trust accounts
such as would be performed by a trust company) these
activities would be performed in the State of Wisconsin,
through its subsidiary, Independence Trust Company (2/27/84)
H.2, 1984 No. 9
- 24 APPLICATIONS RECEIVED - Continued
Mi nneapolis
Chokio Agency, Inc., Chokio, Minnesota, for approval
to engage in general insurance agency activities in a
community with a population of less than 5,000.
Minneapolis
Norwest Corporation, Minneapolis, Minnesota, notification of
intent to engage through its direct or indirect sub
sidiaries, Norwest Financial Services, Inc., and its
subsidiaries, (in the activities of consumer finance;
sales finance; commercial finance [including,
but not limited to, accounts receivable financing, factoring
and other secured lending activities]; lease financing; the
underwriting and sale of credit life and credit accident
and health insurance related to extensions of credit by
Norwest Corporation or its subsidiaries, and the sale of
credit property and credit-related casualty insurance
related to extensions of credit by Norwest Financial
Services, Inc. or its subsidiaries [such underwriting and
sale of credit-related insurance being permissible
activities under Subparagraph D of Title VI of the
Garn-St Germain Depository Institutions Act of 1982];
the offering for sale and selling of travelers checks;
servicing loans and other extensions of credit for other
persons; and the offering for sale and selling of
bookkeeping, payroll and other management financial
reporting services; this notification is for Norwest
Financial Services, Inc. or its subsidiaries to engage
in any of the aforementioned activities at any location
within the 41 states listed below, except that no
authorization is requested (i) for the sale of the
credit property and credit-related casualty insurance
in the States of Connecticut, Kentucky, Maryland,
Massachusetts, New Hampshire, New Jersey, West Virginia
and Wyoming; (ii) for the offering for sale and selling
of travelers checks in the States of Georgia, Kentucky,
Nevada and Washington; or (iii) for the underwriting of
credit life and credit accident and health insurance in
Wyoming) the states that will be served are: Alabama,
Arizona, California, Colorado, Connecticut, Florida,
Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas,
Kentucky, Louisiana, Maryland, Massachusetts, Minnesota,
Mississippi, Missouri, Montana, Nebraska, Nevada, New
Hampshire, New Jersey, New Mexico, North Carolina, North
Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode
Island, South Carolina, South Dakota, Tennessee, Texas,
Utah, Washington, West Virginia and Wyoming
(3/2/84)
H.2, 1984 No. 9
- 25 APPLICATIONS RECEIVED - Continued
Dal 1as
Broadway Bancshares Inc., San Antonio, Texas, notifi
cation of intent to engage in de novo activities
(making or acquiring for its own account and for the
account of others; loans and other extensions of credit,
both secured and unsecured, but not limited to, consumer
and business lines of credit, installment loans for
personal household and business purposes and mortgage
loans secured by real property; servicing loans and
other extensions of credit; acting as insurance agent
for credit life insurance and credit accident and health
insurance directly related to such lending and servicing
activities; issuance and sale of travelers checks; and
the sale at retail of money order having a face value
of not more than $1,000) at 13511 Nacogdoches Road, San
Antonio, Texas, serving Bexar and contiguous counties
(2/29/84)
San
Francisco
Peoples Ban Corporation, a/k/a/ Peoples BanCorporation,
Seattle, Washington, notification of intent to engage
in de novo activities (incidental to the conduct of a
mortgage banking business, to arrange equity financing
for income-producing real properties with institutional
investors and sophisticated individual investors) at
2411 Fourth Avenue Seattle, Washington; Georgia-Pacific
Building Suite 1260 900 S.W. 5th Portland, Oregon; and
601 South Rancho Drive Las Vegas, Nevada, the main
geographic areas to be served will be the States of
Alaska, Arizona, California, Colorado, Hawaii, Idaho,
Montana, Nevada, Oregon, Utah, Washington, and Wyoming,
although it is possible that, from time to time, other
areas of the United States and the District of Columbia
could be served as well, through its subsidiary,
Peoples Mortgage Company (2/28/84)
San
Franci sco
Security Pacific Corporation, Los Angeles, California,
for approval to acquire the shares of Regal Premium
Finance, Inc., Maple Shade, New Jersey.
* * * * *
REPORTS RECEIVED
None.
* * * * *
PETITIONS FOR RULEMAKING
None
@FedFRASER