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RESEdROHUBWW

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°

ANNOUNCEMENT

F W E 0 F 0 ® W « b OF GOVERNORS
OF
OF THE
FEDERAL RESERVE SYSTEM

H.2, 1990, No. 9
Actions of the Board, its Staff, and
the Federal Reserve Banks;
Applications and Reports Received
During the Week Ending March 3,1990

ACTIONS TAKEN BY THE BOARD OF GOVERNORS
TESTIMONY AND STATEMENTS
Developments surrounding the recent decision of
Drexel Burnham Lambert to liquidate its operations
— statement by Chairman Greenspan before the
Subcommittee on Economic and Commercial Law of the
House Committee on the Judiciary, March 1, 1990.
Published, March 2, 1990.
Governments role in providing retirement security to
present and future generations — statement by
Chairman Greenspan before the Senate Committee on
Finance, February 27, 1990.
Published, February 27, 1990.

Economic and monetary policy developments in 1989 —
statement by Chairman Greenspan before the House
Committee on the Budget, February 28, 1990.
Published, February 28, 1990.

Delayed availability of deposits, objectives and
possible amendments to the Expedited Funds
Availability Act — statement by Governor Angell
before the Subcommittee on Consumer and Regulatory
Affairs of the Senate Committee on Banking,
Housing, and Urban Affairs, March 1, 1990.
Authorized, February 27, 1990.
BANK HOLDING COMPANIES




Ameritrust Corporation, Cleveland, Ohio — to acquire
MVestment Corporation, Dallas, Texas, and engage in
trust, investment advisory and real estate equity
financing activities and real estate appraisals.
Approved, February 26, 1990.
BankAmerica Corporation, San Francisco, California,
and Seafirst Corporation, Seattle, Washington -- to
acquire Woodburn Bancorp, Woodburn, Oregon, and
Woodburn State Bank.
Approved, February 26, 1990.
Nationwide Financial Corporation, San Francisco,
California — exemption from Section 23A of the
Federal Reserve A c t .
Granted, February 26, 1990.

H.2
FEBRUARY 26,
PAGE 2

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

BANK HOLDING COMPANIES
Wells Fargo & Company, San Francisco, California —
to acquire Central Pacific Corporation,
Bakersfield, California, and American National
Bank; the Torrey Pines Group, Solana Beach,
California, and the Torrey Pines Bank.
Approved, February 26, 1990.
ENFORCEMENT
Bank of New England Corporation, Boston,
Massachusetts — cease and desist order.
Authorized, February 26, 1990.

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY
ABBREVIATIONS: BS&R - Banking Supervision and Regulation; C&CA - Consumer and
Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve
Bank Operations; GC - General Counsel; IF - International Finance; OSDM - Office
of Staff Director for Management

BANK BRANCHES, DOMESTIC
Chicago

Comerica Bank - Detroit, Michigan -- to establish a
branch at 1700 Woodward, Bloomfield Hills,
Michigan.
Returned, February 26, 1990.

Chicago

First of America Bank - Center, Lansing, Michigan —
to establish a branch at 309 East Grand River
Avenue, East Lansing, Michigan.
Approved, March 1, 1990.

Chicago

Henry County Bank, Green Rock, Illinois — to
establish an offsite electronic facility at Black
Hawk College, 6600-34th Avenue, Moline, Illinois.
Approved, March 1, 1990.

BANK HOLDING COMPANIES




Chicago

Affiliated Capital Corporation, Northbrook, Illinois
— to engage in equipment leasing through
Affiliated Capital Corporation.
Approved, March 2, 1990.

San Francisco

Alameda Bancorporation, Inc., Alameda, California —
to acquire Westside Bank, Tracy, California.
Approved, March 2, 1990.

H .2
FEBRUARY 26,
PAGE 3

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




Chicago

Amcore Financial, Inc., Rockford, Illinois -- to
acquire Mid-American Financial Services Company,
Loves Park, Illinois, and engage in originating and
purchasing retail installment contracts and second
mortgages.
Approved, February 27, 1990.

Minneapolis

Big Sioux Financial, Inc., Estelline, South Dakota -to engage de novo in income tax preparation
activities.
Permitted, March 2, 1990.

San Francisco

CB Bancshares, Inc., Honolulu, Hawaii — to engage de
novo in certain industrial banking activities
through City Finance and Mortgage, Inc.
Permitted, March 2, 1990.

Chicago

Citizens Bancshares, Inc., Walnut, Illinois
engage de novo in insurance activities.
Permitted, February 28, 1990.

Atlanta

Community National Bancorporation, Ashburn, Georgia
— to acquire Community National Bank.
Approved, February 26, 1990.

Kansas City

El Paso Bancshares, Inc., Monument, Colorado — to
acquire Mid - Continent Corporation, Inc., Mission
Hills, Kansas, and Commercial Bank of Leadville,
Leadville, Colorado.
Approved, February 26, 1990.

Kansas City

Exchange Bankshares Corporation of Kansas .
,
Atchinson, Kansas — to acquire Exchange National
Bank and Trust Company, and Fort National Bank,
Easton, Kansas, and to engage in credit related
insurance activities.
Approved, March 2, 1990.

Dallas

First Graham Delaware Corporation, Wilmington,
Delaware — to acquire First National Bank in
Graham.
Waived, February 26, 1990.

to

H .2
FEBRUARY 26, 1990
PAGE 4

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES




S t . Louis

Independent Southern Bancshares Inc., Brownsville,
Tennessee — to engage de novo in leasing
activities through InSouth Leasing Corporation.
Permitted, February 28, 1990.

Chicago

Iowa National Bankshares Corp., Waterloo, Iowa -- to
acquire Monticello State Bank, Monticello, Iowa.
Approved, March 2, 1990.

Kansas City

J. R. Montgomery Bancorporation, Lawton, Oklahoma -to retain 0.8 percent of the voting shares of Fort
Sill National Bank, Fort Sill, Oklahoma.
Approved, February 28, 1990.

Cleveland

Mid Am, Inc., Bowling Green, Ohio -- to acquire The
Citizens Loan and Building Company, Lima, Ohio.
Approved, February 28, 1990.

Kansas City

Midstate Bancorp, Hinton, Oklahoma -- to engage de
novo in lending, leasing, and insurance agency
activities.
Withdrawn, February 26, 1990.

S t . Louis

Nashoba Bancshares, Inc, Memphis, Tennessee -- to
acquire Nashoba Bank.
Approved, February 28, 1990.

Richmond

NCNB Corporation, Charlotte, North Carolina -- to
establish an Interim Three NCNB Texas, F.S.B.,
Greenville, Texas.
Approved, February 26, 1990.

GC

NCNB Corporation, Charlotte, North Carolina — to
have NCNB Texas National Bank, Dallas, Texas, to
purchase assets and assume the liabilities of
Interim Three NCNB Texas, F.S.B., formed to acquire
certain assets and deposit liabilities of
Centennial Federal Savings and Loan Association,
F.A., Greenville, Texas.
Approved, March 2, 1990.

Cleveland

UNB Corp., Canton, Ohio — to acquire The Navarre
Deposit Bank Company, Navarre, Ohio.
Withdrawn, February 28, 1990.

H .2
FEBRUARY 26,
PAGE 5

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK HOLDING COMPANIES
Richmond

Vandalia National Corporation, Morgantown, West
Virginia — to acquire The National Bank of West
Virginia.
Approved, February 27, 1990.

BANK MERGERS
Dallas

Bank of Livingston, Livingston, Texas -- to merge
with Community State Bank, Onalaska, Texas.
Approved, March 2, 1990.

Richmond

First Virginia Bank - Damascus, Damascus, Virginia -to merge with First Virginia Bank of the
Cumberlands, Clintwood, Virginia.
Approved, March 2, 1990.

Richmond

First Virginia Bank - South Central, Lynchburg,
Virginia -- to merge with First Virginia Bank South, Danville, Virginia.
Approved, March 2, 1990.

Chicago

Kent City State Bank, Kent City, Michigan — to
acquire certain assets and assume liabilities of
the Coopersville, Michigan, branch of Ameribank
Federal Savings Bank, Muskegon, Michigan.
Approved, March 2, 1990.

BANK PREMISES




Chicago

First Commercial Bank, Chicago, Illinois -investment in bank premises.
Approved, February 28, 1990.

Chicago

First of America Bank - Center, Lansing, Michigan -investment in bank premises.
Approved, March 1, 1990.

Chicago

Fort Madison Bank & Trust Co., Fort Madison, Iowa -investment in bank premises.
Approved, February 28, 1990.

Chicago

Old Kent Bank and Trust Company, Grand Rapids,
Michigan -- investment in bank premises.
Approved, February 28, 1990.

H.2
FEBRUARY 26, 1990
PAGE 6

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANKS. STATE MEMBER
Philadelphia

Liberty State Bank, Mount Carmel, Pennsylvania -payment of dividend.
Approved, February 26, 1990.

S t . Louis

State Bank of Breese, Breese, Illinois —
a dividend.
Approved, February 26, 1990.

payment of

CAPITAL STOCK
Kansas City

Burlington Bancshares, Inc., Burlington, Colorado —
redemption of shares.
Approved, March 2, 1990.

Cleveland

FGC Holding Company, Martin, Kentucky —
of shares.
Withdrawn, February 26, 1990.

S t . Louis

First Farmers Bank Holding Company, Bardstown,
Kentucky — redemption of shares.
Permitted, March 2, 1990.

S t . Louis

Jamestown Bancorp, Inc., Jamestown, Kentucky —
redemption of shares.
Approved, February 26, 1990.

redemption

CHANGE IN BANK CONTROL




San Francisco

Brighton Bancorp, Salt Lake City, Utah —
bank control.
Permitted, March 2, 1990.

change in

Cleveland

Chippewa Valley Bancshares, Inc., Rittman, Ohio —
change in bank control.
Withdrawn, March 2, 1990.

Minneapolis

Crookston Financial Services, Inc., Crookston,
Minnesota — change in bank control.
Permitted, February 27, 1990.

Minneapolis

D.L. Bancshares, Inc., Detroit Lakes, Minnesota —
change in bank control.
Permitted, March 2, 1990.

H .2
FEBRUARY 26,
PAGE
7

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

CHANGE IN BANK CONTROL
Kansas City

Fall River Bankshares, Inc., Fall River, Kansas -change in bank control.
Permitted, March 1, 1990.

Atlanta

First Commercial Bancorporation, Boca Raton, Florida
-- change in bank control.
Permitted, March 2, 1990.

Dallas

Giddings Citizens State Bancshares, Inc., Giddings,
Texas -- change in bank control.
Permitted, February 27, 1990.

Dallas

Houston Bancorporation, Inc., Houston, Texas —
change in bank control.
Returned, February 28, 1990.

Chicago

Maxwell Bancorporation, Maxwell, Iowa -- change in
bank control.
Permitted, March 1, 1990.

COMPETITIVE FACTORS REPORTS




Dallas

American Bank of Haltom City, Fort Worth, Texas,
proposed merger with Riverbend Bank, N.A. -- report
on competitive factors.
Submitted, February 28, 1990.

S t . Louis

Bay - Hermann Bank, Hermann, Missouri, proposed
merger with Farmers and Merchants Bank of Berger,
Berger, Missouri — report on competitive factors.
Submitted, February 28, 1990.

San Francisco

Century Federal Savings and Loan Association
Pasadena, California, proposed assumption of
deposit liabilities of the Pasadena Branch of First
Federal Savings and Loan Association of San Gabriel
Valley, West Covina, California — report on
competitive factors.
Submitted, March 1, 1990.

H .2
FEBRUARY 26,
PAGE 8

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

COMPETITIVE FACTORS REPORTS




San Francisco

First American Bank, Rosemead, California, proposed
purchase of certain assets and assumption of
certain liabilities of the East Los Angeles Branch
of First American Bank -- report on competitive
factors.
Submitted, March 1, 1990.

Cleveland

First Bancorporation of Ohio, Akron, Ohio — to
acquire Peoples Savings Bank, Ashtabula, Ohio —
report on competitive factors.
Submitted, February 26, 1990.

Minneapolis

First Interstate Bank of Kalispell, N.A., Kalispell,
Montana, proposed merger with First Interstate Bank
of Great Falls, Great Falls, Montana, and First
Interstate Bank of Glacier County, Glacier County,
Montana — report on competitive factors.
Submitted, February 27, 1990.

Dallas

Georgetown National Bank, Georgetown, Texas, proposed
merger with Guaranty National Bank, Austin, Texas
— report on competitive factors.
Submitted, February 28, 1990.

Richmond

Matewan National Bank, Matewan, West Virginia —
proposed purchase of certain assets and assumption
of certain liabilities of The Bank of Danville,
Danville, West Virginia — report on competitive
factors.
Submitted, February 28, 1990.

Cleveland

Mid Am, Inc., Bowling Green, Ohio — to acquire
Citizens Loan and Building Company, Lima, Ohio
report on competitive factors.
Submitted, February 26, 1990.
National Bank of Catalina, Avalon, California,
proposed merger with Southern California Bank,
Downey, California — report on competitive
factors.
Submitted, February 26, 1990.

San Francisco

—

H .2
FEBRUARY 26,
PAGE
9

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

COMPETITIVE FACTORS REPORTS
Atlanta

Prime Bank, A Federal Savings Bank, Titusville,
Florida, proposed purchase of the Titusville,
Florida, branch of The First, F.A., Orlando,
Florida -- report on competitive factors.
Submitted, February 26, 1990.

Chicago

Valley First National Bank, Rhinelander, Wisconsin,
proposed merger with Peoples State Bank, Three
Lakes, Wisconsin — report on competitive factors.
Submitted, February 27, 1990.

EXTENSIONS OF TIME




Chicago

Amboy Bancorp, Inc., Amboy, Illinois -- extension to
May 22, 1990, to acquire The First National Bank in
Amboy.
Granted, February 27, 1990.

Staff Director
BS&R

Deutsche Bank AG, Frankfurt, Germany -- extension to
March 30, 1990, to file an application to retain
the U. S. activities of Morgan Grenfell Group pic,
London, England.
Granted, March 1, 1990.

New York

Financial Institutions, Inc., Warsaw, New York —
extension to acquire Salamanca Trust Company,
Salamanca, New York.
Granted, February 27, 1990.

H .2
FEBRUARY 26,
PAGE 10

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

EXTENSIONS OF TIME




S t . Louis

First Commercial Corporation, Little Rock, Arkansas
-- extension to March 27, 1990, to engage de novo
in management consulting services to depository
institutions through Baker and Hill, Incorporated.
Granted, February 27, 1990.

San Francisco

First Interstate Bancorp, Los Angeles, California -extension to divest certain property.
Granted, February 27, 1990.

Cleveland

F.N.B. Corporation, Hermitage, Pennsylvania —
extension to engage de novo in consumer,
commercial, and mortgage lending through Mortgage
Service Corporation, and an extension for MSCTs
activities to include the origination and servicing
of all types of consumer and commercial lending.
Granted, March 1, 1990.

Atlanta

Golden Isles Financial Holdings, Inc., Brunswick,
Georgia -- extension to June 7, 1990, to acquire
The First Bank of Brunswick.
Granted, March 2, 1990.

S t . Louis

Hogue Holding Co. Inc., Weiner, Arkansas -- extension
to June 3, 1990, to acquire Bank of Weiner.
Granted, February 28, 1990.

Chicago

Lincoln Financial Corporation, Fort Wayne, Indiana —
extension to June 27, 1990, to acquire PTC
Financial Corporation, Peru, Indiana, and The Peru
Trust Company.
Granted, February 26, 1990.

Chicago

Lincoln Financial Corporation, Fort Wayne, Indiana —
extension to June 17, 1990, to acquire Signal
Bancorp, Monticello, Indiana, and State and Savings
Bank.
Granted, February 26, 1990.

Richmond

Piedmont Bancshares Corporation, Winston-Salem, North
Carolina — extension to May 3, 1990, to acquire
Enterprise National Bank of Piedmont.
Granted, February 26, 1990.

H .2
FEBRUARY 26,
PAGE 11

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

EXTENSIONS OF TIME
Atlanta

Riverside Banking Company, Fort Pierce, Florida —
extension to May 2, 1990, to accomplish change in
bank control.
Granted, March 1, 1990.

Atlanta

Sovran Bank / Central South, Nashville, Tennessee -extension to June 28, 1990, to merge with Sovran
Bank / Chattanooga, Chattanooga; Sovran Bank /
Greenville, Greenville; Sovran Bank / Memphis,
Memphis; Sovran Bank / Tri - Cities, Johnson City;
and Sovran Bank / Union City, Union City,
Tennessee.
Granted, March 2, 1990.

New York

Summit Bancorporation, Summit, New Jersey, and United
Counties Bancorporation, Cranford, New Jersey
extension to acquire 9.9 percent of Central Jersey
Bancorp, Freehold, New Jersey.
Granted, March 1, 1990.

San Francisco

Valley Capital Corporation, Las Vegas, Nevada -extension to June 3, 1990, to engage de novo in
lending activities through Pacific Century Finance
Company.
Granted, February 28, 1990.

San Francisco

Valley National Corporation, Phoenix, Arizona -extensions to divest certain properties.
Granted, March 1, 1990.

RESERVE BANK OPERATIONS




GC

Federal Reserve Bank of New York — to act as fiscal
agent for a proposed issue of bonds by the
International Bank for Reconstruction and
Development.
Approved, March 2, 1990.

H .2
FEBRUARY 26,
PAGE 12

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

RESERVE BANK SERVICES




Director, FRBO

Federal Reserve Bank of Minneapolis -- to establish a
Quick Draw premium mixed deposit product at the
Helena Branch.
Approved, March 2, 1990.

Secretary

Surcharges for funds transfers associated with BOPEAP
(bank-oriented processor ender accountability
procedure) -- schedule.
Approved, February 27, 1990.

ADDITIONS AND CORRECTIONS

H .2
FEBRUARY 26,
PAGE 13

1990

TO

MARCH 2, 1990

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS
UNDER DELEGATED AUTHORITY

BANK BRANCHES, DOMESTIC
San Francisco

First Interstate Bank of California -- to establish a
branch in the vicinity of the intersection of
Heacock Street and Sunnymead Boulevard, Moreno
Valley, California.
Approved, February 23, 1990.

BANK HOLDING COMPANIES




Secretary

BankAmerica Corporation, San Francisco, California;
Bankers Trust New York Corporation, New York, New
York; The Chase Manhattan Corporation; Chemical
Banking Corporation; Citicorp, Continental Bank
Corporation, Chicago, Illinois; First Chicago
Corporation; The Fuji Bank, Limited, Tokyo, Japan;
The Bank of New York Company Inc., New York, New
York; J.P. Morgan & Co., Incorporated,
Manufacturers Hanover Corporation; The HongKong and
Shanghai Banking Corporation Limited, Hong Kong;
HSBC Holdings, B.V., Amsterdam, The Netherlands;
Kellett N.V., Curaco, Netherlands Antilles; Marine
Midland Banks, Incorporated, Buffalo, New York;
Midland Bank PLC, London, England; The Sanwa Bank,
Limited, Tokyo, Japan; The Long-Term Credit Bank of
Japan, Ltd.; and Westpac Banking Corporation,
Sydney, Australia -- to acquire Market Vision
Corporation, New York, New York, and engage
indirectly in data processing.
Approved, January 30, 1990.

Boston

Ocean State Bancshares Corporation, Middletown, Rhode
Island — to acquire Ocean State National Bank.
Withdrawn, February 22, 1990.

Atlanta

PAB Bankshares, Inc., Valdosta, Georgia — to engage
de novo in management consulting services to
certain financial organizations through American
Bank Consultants, Inc.
Permitted, February 11, 1990.

FEDERAL RESERVE BANK OF BOSTON APPLICATIONS
SECTION 1 - APPLICATIONS SUBJECT TO
NEWSPAPER NOTICE ONLY
Comment Period Ending Date

Application

NONE
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
Application

Comment Period Ending Date

Multibank Financial Corp., Newspaper
Dedham, Massachusetts 3(a)(3) application to
Federal Register
acquire 6.38% of Andover
Bancorp, Inc., Andover,
Massachusetts and 6.25% of
The Waltham Corporation,
Waltham, Massachusetts*

03-12-90
Not Yet Established

SECTION III - APPLICATIONS SUBJECT TO
FEDERAL REGISTER NOTICE ONLY
Application

Comment Period Ending Date

Fleet/Norstar Financial
Group, Inc., Providence,
Rhode Island - 4(c)(8)
application to acquire
Heartland Securities,
Inc.,
Chicago, Illinois

Federal Register

SECTION IV - APPLICATIONS NOT SUBJECT TO
FEDERAL REGISTER OP. NEWSPAPER NOTICE
Application

NONE
♦Subject to CRA




03-12-90

Federal Reserve Bank of New York
Comment Period
Ending Date
SECTION I

Applications Subject to Newspaper
____________Notice Only_________
Central Trust Company, Rochester, New York to establish
a branch at Latta and Long Pond Roads in the town of
Greece, New York.l/

3/7/90

SECTION II
Applications Subject to Both
Newspaper and Federal Register Notice
Chase Manhattan National Corporation, New York,
New York ("CMNC") to acquire The Chase Manhattan
Bank (USA), N.A., Wilmington, Delaware and certain
nonbanking subsidiaries of The Chase Manhattan
Corporation, New York, New York. CMNC also intends
to establish a branch in Jersey, Channel Islands to
accept deposits from non-United States residents and
non-United States citizens only.l/

3/16/90 3/

The Nippon Credit Bank, Ltd., Tokyo, Japan to become
a bank holding company with respect to Nippon Credit
Trust Company, New York, New York, a de novo bank.l/

3/26/90 3/

SECTION III
Noribanking Applications
(Subject to Federal Register Notice Onlv^
State Bank of South Australia, Adelaide, South
Australia, to engage de novo through Centre Capital
Funding Corporation, Inc., Evanston, Illinois, in
certain consumer finance, mortgage, commercial finance
and factoring activities.

N/A

Amsterdam Rotterdam Bank and Stichting Amro, both
of Amsterdam, the Netherlands to engage through
their de novo subsidiary, Amro Securities Corp.,
New York, New York, in underwriting and dealing in
bank-eligible and certain bank-ineligible debt
securities, private placement activities, securities
brokerage activities, and investment and financial
advisory services.

N/A










Applications Bulletin
For Week Ending March 3, 1990

SECTION I ~ APPLICATIONS SUBJECT TO NEW S P A P E R
NOTICE ONLY
APPLICATION

COMMENT PERIOD E N D I N G

R e c e i v e d application on March 2, 1990 from
The P r o v i d e n t Bank, Cincinnati, Ohio, for
p e r m i s s i o n to relocate a branch office from
8075 R e a d i n g Road, Cincinnati, Ohio, to
8040 R e a d i n g Road, Cincinnati, Ohio.

* April 10, 1990

SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL R EGISTER NOTICE
Rece i v e d S e ction 3(a)(1) application on
February 28, 1990 from P-A Bancorp, Pikeville,
Kentucky, to acquire First American Kentucky
Bancorp, I n c . , Ashland, Kentucky.

* Not Yet Known #

Rec e i v e d S e c t i o n 3(a)(3) application on
February 28, 1990 from Pikeville National
Corporation, Pikeville, Kentucky, to acquire
First A m e r i c a n Kentucky Bancorp, Inc., Ashland,
Kentucky.

* Not Yet Known #

R eceived Se c t i o n 3(a)(1) application on
February 28, 1990 from First Bancorp
Investment Corporation, Ashland, Kentucky,
to a c qu ire First American Kentucky Bancorp,
Ashland, Kentucky.

* Not Yet Known #

*
#
N
F

-

Inc.,

Subject to CRA
Exp e c t e d to end approximately 30 days from the date of rece i p t
N e w s p a p e r Comment Period
Federal Register Comment Period




Applications Bulletin
For W e e k Ending March 3, 1990

SECTION III - APPLICATIONS SUBJECT TO FE D E R A L R E G I S T E R
NOTICE ONLY
Received Section 4(c)(8) application on
February 28, 1990 from Tonti Financial
Corporation, Columbus, Ohio, to acquire
M arietta Franklin Securities Corporation,
Columbus, Ohio.

Not Yet Known #

R eceived notice on March 2, 1990 from Fifth
Thi r d Bancorp, Cincinnati, Ohio, of its
intent to make equity investments in limited
partnerships designed primarily to promote
community w e lfare namely the economic
rehabilitation and development of low-income
areas by providing low-income housing pursuant
to Section 2 2 5 . 2 5 ( b ) (6) of Regulation Y.

Not Yet Known #

SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL R E G I S T E R NOTICE
OR NEWSPAPER NOTICE
Rece i v e d request on February 28, 1990
from Beaver Trust Company, Beaver,
Pennsylvania, for permission to exceed
its limit of investment in bank premises
permitted under Section 24A of the
Federal R eserve Act.
Received request on February 28, 1990 from
Sabina Bank, Sabina, Ohio, for permission
to exceed its limit of investment in bank
premises permitted under Section 24A of the
Federal Re s e r v e Act.
R eceive d notification on March 1, 1990 from
Har r i s o n Bancorporation, Cynthiana, Kentucky,
of its intent to acquire up to 34.74 percent
of its shares outstanding pursuant to Section
225.4(b) of R e g u lation Y.

*
#
N
F

-

Subject to CRA
Expected to end approximately 30 days from the date of receipt
N e w s p a p e r Comment Period
Federal R egister Comment Period




Federal Reserve Bank of Richmond

Section I - Applications Subject to Newspaper
Notice Only
Application

Comment Period Ending Date

United Bank and Trust Company of
Maryland, Upper Marlboro, Maryland,
request for permission to establish
a branch at 19645 Fisher Avenue,
Poolesville, Maryland.*

4-4-90

Section II - Applications Subject to Both
Newspaper and Federal Register Notice

Application

Comment Period Ending Date

WM Bancorp, Cumberland, Maryland, for
prior approval to merge with Potomac
Bancorp, Inc., Keyser, West Virginia.*

3-31-90

Section III - Applications Subject to Federal Register Notice

Application

Comment Period Ending Date

WM Bancorp, Cumberland, Maryland, to
engage in providing data processing
services of a financial nature to
affiliated and nonaffiliated companies
through its subsidiary, Eastern
Servicecenter, Inc., Keyser, West
Virginia.

Not Yet Available

Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice

Application
None

*Application is subject to CRA.




Week Ending March 2, 1990

Federal Reserve Bank of Atlanta
Applications Bulletin

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Application

Comment Period Ending Date

BMR Financial Group, Inc.
03-14-90
Atlanta, Georgia
Newspaper
To merge with Meigs County Bancshares, Inc., Decatur, Tennessee, and
thereby acquire its subsidiary bank, Meigs County Bank, Decatur, Tennessee.

Community Bancshares Inc.
Independence, Louisiana
Change in control by Guy C. Billups, Jr. to acquire an additional 40.06
percent of the outstanding shares of common stock that will increase his
total percentage ownership to 47.43 percent.

Pearl River Bancorp
03-16-90
Picayune, Mississippi
Newspaper
1-BHC formation, Pearl River County Bank, Picayune, Mississippi
(in organization).

Section III - Applications Subject to Federal Register Notice Only
Application
Merchant Bank Corporation
Atlanta, Georgia
To establish Merchant Mortgage Corporation, Atlanta, Georgia, and engage
de novo in acquiring and servicing loans, pursuant to section 225.25(b)(1)(i)
of Regulation Y; and selling as agent or broker, credit life and accident
health insurance directly related to its extensions of credit, pursuant to
section 225.25(b)(8)(i) of Regulation Y.

SunTrust Banks, Inc.,
Atlanta, Georgia
To acquire Albany First Federal Savings and Loan Association, Albany,
Georgia, pursuant to section 225.25(b)(9) of Regulation Y, and merge it
with and into its subsidiary, Trust Company Bank of South Georgia,
N.A., Albany, Georgia.

Forest Bancorp
Forest, Mississippi
To establish Bankers Services Corporation, Forest, Mississippi, and engage
de novo in providing management consulting advice to nonaffiliated banks
and nonbank depository institutions, pursuant to section 225.25(b)(11) of
Regulation Y.




Week Ending March 2, 1990

Section IV - Applications Not Subject to Federal Register Notice
or Newspaper Notice
Application
American City Bancorp, Inc.
Tullahoma, Tennessee
To redeem 28,800 shares (31.9 percent) of the outstanding common stock.




Federal Reserve Bank of Chicago
Section I - Applications Subject to Newspaper
Notice Only
Comment Period
Ending Date

Type

Application

Member

Deland State Bank
Deland, Illinois
To become a member of the Federal
Reserve System*

N

- 2-19-90

Merger/
Branch

Deland State Bank
Deland, Illinois
National Bank of Monticello
Monticello, Illinois
Main office - 100 West Washington Street,
Monticello, Illinois
220 North Highway Avenue
Deland, Illinois
Market and Center Streets
Monticello, Illinois*

N

- 2-19-90

EFT

Bankers Trust Company
Des Moines, Iowa
Iowa Lutheran Hospital, University
at Penn, Des Moines, Iowa*

N

- **

Section II - Applications Subject to Both
Newspaper and Federal Register Notice

Type

Application

CoC-HC

Community Grain Co, (was Community
Grain Company)
Coon Rapids, Iowa
Retain 25.5% by W*C. Hess Trustee
Antonia Lee Irrevocable Trust
Coon Rapids, Iowa

Comment Period
Ending Date
FR - 1-26-90
- 2-7-90

n

Y-2

FSB Holding Co*
Kalona, Iowa
Cedar Valley Bank & Trust
Mount Vernon, Iowa (in organization)*

FR - 2-8-90
N - 3-10-90

Y-2

Oxford Financial Corporation
Addison, Illinois
Hampton Park Corporation
Romeoville, 111inois
First Bank of Romeoville
Romeoville, Illinois*

FR - 2-26-90
N - 3-22-90




Federal Reserve Bank of Chicago
Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Continued
Comment Period
Ending Date

lY.pe

Application

Y-l

Community Bancshares of Wisconsin, Inc.
Grafton, Wisconsin
Community Bank of Grafton
Grafton, Wisconsin (in organization)*

FR - **
N - 3-30-90

Y-2

F .W .S .F . Corporat ion
Milwaukee, Wisconsin
Elkhorn Bankshares Corporation
Elkhorn, Wisconsin
State Bank of Elkhorn
Elkhorn, Wisconsin*

FR - **
N - **

Y-2

Firstar Corporation
Milwaukee, Wisconsin
Elkhorn Bankshares Corporation
Elkhorn, Wisconsin
State Bank of Elkhorn
Elkhorn, Wisconsin*

FR - **
N - **

Y-2

Firstar Corporation
Milwaukee, Wisconsin
First Western Company
St. Louis Park, Minnesota
First Western Bank St. Louis
St. Louis Park, Minnesota*

FR - **
N - **

Y-2

Firstar Corporation of Minnesota
Milwaukee, Wisconsin
First Western Company
St. Louis Park, Minnesota
First Western Bank St. Louis
St. Louis Park, Minnesota*

FR - **
N - **

Y-l

Honor Bancorp, Inc.
Honor, Michigan
The Honor State Bank
Honor, Michigan*

COC-HC

De Witt Bancorp, Inc.
De Witt, Iowa
COC & ROS by Gerhard Schmunk; Larry
Williams; Ray Meier; Richard Kelly;
Chris Hanson; Larry Hanson; Barb Hanson
& Daniel Condon




FR - **
N - **

FR - **
✓ N - **

Federal Reserve Bank of Chicago
Section IV - Applications Not Subject to Federal Register Notice
Or Newspaper Notice
lYpe

Application

RoS

De Witt Bancorp, Inc.
De Witt, Iowa
Redeem 750,000 shares

N
FR
*
**

~
_

Newspaper
Federal Register
Subject to Provisions of Community Reinvestment Act
Not available at this time




FR - **
N - **

Federal Reserve Bank of St. Louis




March 2, 1990

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE
None.
SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
None.
SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE
None.
SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
None.

FEDERAL RESERVE BANK OF MINNEAPOLIS

Section I - Applications Subject to
_______ Newspaper Notice Only_______
Comment Period
Ending Date

Application
None.

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Comment Period
Ending Date

Application

3-17-90
(Newspaper)

Yellowstone Trail Bancorporation
Ipswich, SD
To acquire Ipswich State Bank,
Ipswich, SD*
Keweenaw Financial Corporation
Hancock, MI
The Superior National Bank & Trust
Company of Hancock, Hancock, MI*

Not yet available

Section III - Applications Subject
to Federal Register Notice Only
Comment Period
Ending Date

Application
Norwest Corporation
Minneapolis, MN
To engage in general insurance
agency activities through the
acquisition of Crop Hail Manage­
ment, Kalispell, MT

Not yet available

Section IV - Applications Not Subject to
Federal Register Notice or Newspaper Notice
Application
None.

* Subject to CRA




Federal Reserve Bank of Kansas City

SECTION I ~ APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION

COMMENT PERIOD ENDING D A T E

The P e o p l e s Bank, Pratt, Kansas,
for pr i o r approval to establish a
b r a n c h in Medicine Lodge, Kansas.

Not Available

SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION

COMMENT PERIOD ENDING D A T E

Hope Bancshares, Inc., Hope, Kansas,
for p r i o r approval to become a bank
h o l d i n g c o m p a n y through the acquisition
of 96.8 p e r c e n t of the voting shares
of The First National Bank of Hope,
Hope, K a n sas.*

Not Available

CNB Finan c i a l Corporation, Kansas City,
Kansas, for prior approval to acquire
100 p e r c e n t of the voting shares of
First B a n k and Trust, Concordia,
Kansas, and First National Bank of
Glasco, Glasco, Kansas.*

Not Available

S ECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER N O T I C E
OR NEWSPAPER NOTICE
APPLICATION
F.S.B. Properties, Inc., Quinton,
Oklahoma, for prior approval to
r e d e e m 360 shares of its own voting
common stock.
♦ A p plication is subject to CRA.




FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN
APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF FEBRUARY 26, 1990

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
NOTICE EXP

APPLICATION
♦Section 18(c) application by
The Bank of Livingston, Livingston, TX, to acquire
and merge certain assets and liabilities of the
failed Community State Bank, Onalaska, TX, into its
existing operation
(Emergency acquisition)

None required
due to emergency

SECTION II - APPLICATIONS SUBJECT TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
APPLICATION

** NOTICE EXP

♦Section 3(a)(1) application by
EastPark Bancshares, Inc., Dallas, TX, to acquire
EastPark National Bank, Dallas, TX

90/03/21

♦Section 3(a)(1) application by
Chalybeate Springs Corporation, Hughes Springs, TX, to
acquire The First National Bank of Hughes Springs,
Hughes Springs, TX

90/03/16

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION
Section 4(c)(8) de novo notification by
Heritage Financial Corporation, Ruston, LA, to acquire
First Louisiana Trust Company, Metairie, LA
(engage in trust activities)

NOTICE EXP

N/A

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
APPLICATION
None.

* SUBJECT TO CRA.
** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY.
N/A - NOT AVAILABLE AT THIS TIME.




FEDERAL RESEEMS BANK OF SAN JRANdSOO

Week aiding 3/02/90
Section I - Applications Subject to Newspaper Notice Only
Application

Comment Period Ending Date

None

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
Security Pacific Corporation, Los Angeles,
California, to acquire La Jolla Bancorp,
San Diego, California.

Newspaper:

3/13/90

Fed. Rea.:

3/28/90

SPC Acquisition, Inc., Los Angeles,
California, to become a bank holding
company through the acquisition of La
Jolla Bancorp, San Diego, California.

Newspaper:

3/13/90

Fed. Rea.:

3/28/90

Section III - Applications Subject to Federal Register Notice Only
None

Section IV - Applications Not Subject to Federal Register Notice
or Newspaper Notice
None

* Subject to CRA.





Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102