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ANNOUNCEMENTS BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ( H . 2 , 1981 No. 10) A c t i o n s of t h e Board; A p p l i c a t i o n s and Reports Received During t h e Week Ending March 7, 1981 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Statement by Chairman Paul A. Volcker b e f o r e t h e House Committee on Ways and Means to d i s c u s s some c o n s i d e r a t i o n s r e l e v a n t t o t h e Committee's d e l i b e r a t i o n s about economic p o l i c y . The Board denied t h e P e t i t i o n of Riggs N a t i o n a l Bank of Washington, D.C. , r e q u e s t i n g t h a t t h e Board i n i t i a t e p r o c e e d i n g s in c o n n e c t i o n w i t h the proposed a c q u i s i t i o n by Mr.Joseph L. A 1 l b r i t t o n of c o n t r o l of approximately 35 p e r c e n t of the o u t s t a n d i n g v o t i n g s h a r e s of Riggs N a t i o n a l Bank. The Board denied t h e r e q u e s t by C i t i c o r p , New York, New York, for r e c o n s i d e r a t i o n of i t s c r e d i t card p r o p o s a l . R e g u l a t i o n P amendment — implementing the Bank P r o t e c t i o n Act - - to e l i m i n a t e s e v e r a l r e p o r t i n g r e q u i r e m e n t s . The Board submitted i t s s t a t e m e n t on the Comptroller G e n e r a l 1 s Report to t h e Congress e n t i t l e d Examinations of F i n a n c i a l I n s t i t u t i o n s Do Not A s s u r e Compliance w i t h Consumer C r e d i t Laws. Atlanta Central Bancorp, I n c . , Miami, F l o r i d a , e x t e n s i o n of time t o June 5, 1981, w i t h i n vdiich to consummate t h e a c q u i s i t i o n of F i r s t C e n t r a l Bank, D e l r a y , F l o r i d a . \J Chicago ELM BANCS HARE S, INC. , Elmhurs t , I l l i n o i s , e x t e n s i o n of time to May 3 1 , 1981, w i t h i n which to become a bank h o l d ing company through t h e a c q u i s i t i o n of 100 percent of the v o t i n g s h a r e s of the s u c c e s s o r by merger to Elmhurst N a t i o n a l Bank, Elmhurst, I l l i n o i s . _1/ Dallas F i r s t Duncanville Corporation, Duncanville, Texas, e x t e n s i o n of time t o March 3 0 , 1981, w i t h i n vfaich to consummate the a c q u i s i t i o n of F i r s t N a t i o n a l Bank of D u n c a n v i l l e , D u n c a n v i l l e , Texas. J / A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. H. 2 , 1981 No. 10 - 2 - ACTIONS OF THE BOARD-Continued Atlanta F i r s t N a t i o n a l Bank of Palm Beach, I n c o r p o r a t e d , Palm Beach, F l o r i d a , e x t e n s i o n of time t o June 1, 1981, w i t h i n vfaich t o consummate the a c q u i s i t i o n of F i r s t N a t i o n a l Bank i n Palm Beach, Palm Beach, F l o r i d a . JL/ Chicago F i r s t S e c u r i t y B a n c o r p . , I n c . , Moline, I l l i n o i s , e x t e n s i o n of time t o May 2 5 , 1981, w i t h i n t b i c h to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 p e r c e n t of t h e v o t i n g s h a r e s of t h e s u c c e s s o r by merger t o Mo l i n e N a t i o n a l Bank, M o l i n e , I l l i n o i s . \J S t . Louis F i r s t United B a n c s h a r e s , I n c . , El Dorado, A r k a n s a s , e x t e n s i o n of time to A p r i l 8, 1981, w i t h i n which to become a bank h o l d i n g company through a c q u i s i t i o n of the s u c c e s s o r by merger to The F i r s t N a t i o n a l Bank of El Dorado, El Dorado, Arkansas. JL/ Atlanta Guardian Banks F i n a n c i a l C o r p o r a t i o n , S e m i n o l e , F l o r i d a , e x t e n s i o n of time to become a bank h o l d i n g company through the a c q u i s i t i o n of Guardian Bank, S e m i n o l e , F l o r i d a . 1/ Minneapolis Montana B a n c s y s t e m , I n c . , B i l l i n g s , Montana, e x t e n s i o n of time t o A p r i l 2 8 , 1981, w i t h i n which to become a bank h o l d company through t h e a c q u i s i t i o n of four Montana banks and s e v e n one-bank h o l d i n g companies. \J Kansas C i t y Mountain Banks, L t d . , Denver, C o l o r a d o , e x t e n s i o n of time t o June 27, 1981, w i t h i n which to consummate the a c q u i s i t i o n of Chapel H i l l s N a t i o n a l Bank, Colorado S p r i n g s , Colorado. 1/ Chicago N a t i o n a l Bancorp, I n c . , Melrose Park, I l l i n o i s , e x t e n s i o n of time t o A p r i l 2 0 , 1981, w i t h i n which to become a bank h o l d ing company through the a c q u i s i t i o n of 100 p e r c e n t of the v o t i n g s h a r e s of the s u c c e s s o r by merger t o Melrose Park N a t i o n a l Bank, Melrose Park, I l l i n o i s . JL/ Dal l a s Republic of Texas C o r p o r a t i o n , D a l l a s , T e x a s , e x t e n s i o n of time to A p r i l L, 1981, w i t h i n which to consummate the a c q u i s i t i o n of The F i r s t N a t i o n a l Bank of Richmond, Richmond, T e x a s . JJ Ch i c a g o S t r e a t o r B a n c o r p . , I n c . , S t r e a t o r , I l l i n o i s , e x t e n s i o n of time to May 25, 1981, w i t h i n which to become a bank h o l d ing company through t h e a c q u i s i t i o n of 100 p e r c e n t of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger to The S t r e a t o r N a t i o n a l Bank, S t r e a t o r , I l l i n o i s . 1/ 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of t h e Board of Governors u n d e r d e l e g a t e d aut h o r i t y . H.2, 1981 No. 10 - 3 — ACTIONS OF THE BOARD-Continued Minneapolis V e i s Bankshares, I n c o r p o r a t e d , Scobey, Montana, e x t e n s i o n of time t o A p r i l 3, 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of the C i t i z e n s S t a t e Bank of Scobey, Scobey, Montana. 1/ Chicago Western B a n c s h a r e s , I n c . , Milwaukee, W i s c o n s i n , e x t e n s i o n of time t o May 2 8 , 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 80 percent or more of t h e v o t i n g s h a r e s of Milwaukee Western Bank, Milwaukee, W i s c o n s i n . \ J Chicago WORTH BANCORP., INC., C h i c a g o , I l l i n o i s , e x t e n s i o n of t i m e t o June 10, 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 80 percent or more of t h e v o t i n g s h a r e s of Worth Bank and T r u s t , Worth, I l l i n o i s and to engage i n i n s u r a n c e a c t i v i t i e s through a de novo s u b s i d i a r y , Worbank I n s u r a n c e Agency, I n c . JJ Richmond Bank of S u f f o l k , S u f f o l k , V i r g i n i a , an i n v e s t m e n t in bank p r e m i s e s . 1/ St. Louis C i t i z e n s Bank, B a t e s v i l l e , Arkansas, an a d d i t i o n a l in bank p r e m i s e s . JL/ St. Louis C i t i z e n s Bank of New Haven, New Haven, M i s s o u r i , an a d d i t i o n a l i n v e s t m e n t i n bank p r e m i s e s . 1/ New York F i d e l i t y Union Trust Company, Newark, New J e r s e y , an a d d i t i o n a l i n v e s t m e n t i n bank p r e m i s e s . \ J Atlanta Home Bank of G u n t e r s v i l l e , G u n t e r s v i l l e , Alabama, an i n v e s t ment i n bank p r e m i s e s . JJ % New York Merchants Bank o f New York, New York, New York, an investment i n bank p r e m i s e s . J L / Atlanta Savannah Bank & Trust Company, Savannah, G e o r g i a , an i n v e s t ment in bank p r e m i s e s . JV Chicago S e c u r i t y T r u s t & Savings Bank, Shenanhoah, Iowa, an i n v e s t ment i n bank p r e m i s e s . 1/ New York Bank o f New York, New York, New York, e x t e n s i o n of time to September 9 , 1981, w i t h i n which to e s t a b l i s h a branch a t 112 Midland Avenue, Port C h e s t e r , New York. 1/ 1/ investment A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. 4 - H . 2 , 1981 No. 10 ACTIONS OF THE BOARD-Cont inued San Francisco Walker Bank and T r u s t Company, S a l t Lake C i t y , Utah, e x t e n s i o n of time t o October 8 , 1981, w i t h i n vfaich to e s t a b l i s h a branch at 2440 South Highway 8 9 - 9 1 , Woods C r o s s , Utah. 1/ Cleveland T o l e d o Trust Company, T o l e d o , O h i o , p e r m i s s i o n to pay dividends. V Kansas C i t y F i d e l i t y Bank o f Denver, Denver, Colorado ( a proposed new bank) , e x t e n s i o n of time t o August 1, 1981, w i t h i n trtiich t o complete i t s membership in the Federal Reserve System. V Philadelphia C o n t i n e n t a l Bank o f New J e r s e y , G l o u c e s t e r Township, New J e r s e y , p r o p o s a l t o merge w i t h Mainland Bank, Linwood, New J e r s e y , under the c h a r t e r and t i t l e of C o n t i n e n t a l Bank of New J e r s e y ; report to t h e F e d e r a l D e p o s i t I n s u r ance C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . JJ Atlanta D e l t a N a t i o n a l Bank of Yazoo C i t y , M i s s i s s i p p i , proposed merger w i t h D e p o s i t Guaranty N a t i o n a l Bank, J a c k s o n , M i s s i s s i p p i ; r e p o r t to t h e Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . I / Atlanta Farmers Bank, D o u g l a s , G e o r g i a , proposed merger with Southern I n t e r i m Company, D o u g l a s , G e o r g i a ; r e p o r t to the F e d e r a l D e p o s i t I n s u r a n c e Corporation on c o m p e t i t i v e f a c t o r s . If New York 59 N. Main S t r e e t N a t i o n a l Bank, L i b e r t y , New York, p r o p o s a l to c o n s o l i d a t e with The S u l l i v a n County N a t i o n a l Bank of L i b e r t y , L i b e r t y , New York; r e p o r t to the C o m p t r o l l e r of t h e Currency on c o m p e t i t i v e f a c t o r s . 1/ Dallas F i r s t I n t e r n a t i o n a l Bank i n San A n t o n i o , N . A . , San A n t o n i o , T e x a s , proposed merger w i t h F i r s t N a t i o n a l Bank of San A n t o n i o , San A n t o n i o , T e x a s ; r e p o r t to the C o m p t r o l l e r of t h e Currency on c o m p e t i t i v e f a c t o r s . 1/ Philadelphia F i r s t N a t i o n a l Bank of Toms R i v e r , Toms R i v e r , New J e r s e y , proposed purchase of t h e Pomons and Egg Harbor C i t y o f f i c e s of F i r s t N a t i o n a l S t a t e Bank of West J e r s e y , B u r l i n g t o n Township, New J e r s e y ; r e p o r t to t h e C o m p t r o l l e r of the Currency on c o m p e t i t i v e f a c t o r s . 1/ If A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authori t y . H.2, 19bl No. 10 - 5 - ACTIONS OF THE BOARD-Continued Chicago Manly S t a t e Bank, Manly, Iowa, a p p l i c a t i o n f o r p r i o r approval t o merge with The C i t i z e n s S a v i n g s Bank, Hanolntown, Iowa, under the c h a r t e r and t i t l e of Manly S t a t e Bank, Manly, Iowa; r e p o r t t o t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . 1/ Chicago Melrose Park N a t i o n a l Bank, Melrose Park, I l l i n o i s , a p p l i c a t i o n f o r p r i o r approval t o merge w i t h M e l r o s e Bank, N.A. , Melrose Park, I l l i n o i s , under the c h a r t e r and t i t l e of Melrose Park N a t i o n a l Bank, Melrose Park, I l l i n o i s ; r e p o r t to t h e Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . 1/ San Francisco M i t s u i Bank of C a l i f o r n i a , Los A n g e l e s , C a l i f o r n i a , proposed merger w i t h M a n u f a c t u r e r s Bank, Los A n g e l e s , C a l i f o r n i a , under the c h a r t e r of Manufacturers Bank and w i t h the t i t l e of M i t s u i M a n u f a c t u r e r s Bank; r e p o r t t o t h e F e d e r a l D e p o s i t Insurance C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . 1/ Chicago Upper Avenue Bank, C h i c a g o , I l l i n o i s , ap-plicat ion for p r i o r approval t o merge w i t h Lake Shore N a t i o n a l Bank, C h i c a g o , I l l i n o i s , under t h e charter and t i t l e of Upper Avenue Bank, Chicago, I l l i n o i s ; r e p o r t to the F e d e r a l D e p o s i t Insurance Corporation on c o m p e t i t i v e f a c t o r s . 1/ JJ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. H. 2 j 1981 No. 10 - 6 - ACTIONS OF THE BOARD-Continued To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of t h e F e d e r a l Reserve Act New York Approved Manufacturers Hanover Trust Company, New York, New York. To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y a t 722 A l l e r t o n Avenue, Bronx County, New York. _1/ & 1 / New York United J e r s e y Bank, Hackensack, New J e r s e y . To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y a t 25 North Maple Avenue, Ridge wood, New J e r s e y . JL/ & 2/ Philadelphia Girard Bank, Bala Cynwyd, P e n n s y l v a n i a . To e s t a b l i s h of f s i t e e l e c t r o n i c f a c i l i t i e s i n AM-PM mini ma r k e t s at the following l o c a t i o n s : L a n c a s t e r Pike and Aberdeen Road, Wayne, P e n n s y l v a n i a ; Township Line and S t a t e Roads, Drexel H i l l , P e n n s y l v a n i a ; East L a n c a s t e r Avenue and Bridge S t r e e t , Berwyn, Pennsylvania; Cheltenham Avenue and P i t t v i l l e Road, P h i l a d e l p h i a , Pennsylvania; Cottman and T o r r e s d a l e Avenue, P h i l a d e l p h i a , P e n n s y l v a n i a ; F i f t y - S e c o n d and Spruce S t r e e t s , P h i l a d e l p h i a , P e n n s y l v a n i a ; F o r t y - F i f t h S t r e e t and B a l t i m o r e Avenue, P h i l a d e l p h i a , P e n n s y l v a n i a ; and Twenty Third and Fairmont Avenue, P h i l a d e l p h i a , P e n n s y l v a n i a . JV & 2 / Atlanta The Bank of New Orleans and Trust Company, New O r l e a n s , L o u i s i a n a . Branch to be e s t a b l i s h e d at t h e Canal P l a c e One Complex, New O r l e a n s , L o u i s i a n a . JL/ & 2/ Atlanta Exchange Bank and T r u s t Company of F l o r i d a , Tampa, F l o r i d a . To e s t a b l i s h an automated t e l l e r machine on the w e s t s i d e of North F l o r i d a Avenue, 400 f e e t n o r t h o f Bears s Avenue, Tampa, F l o r i d a . JJ & 2/ S t . Louis The Scot t County S t a t e Bank, S c o t t s b u r g , I n d i a n a . Branch t o be e s t a b l i s h e d a t 155 West Wardell S t r e e t , S c o t t s b u r g , S c o t t County, I n d i a n a . JL/ & 27 San Francisco V a l l e y Bank o f Nevada, Las Vegas, Nevada. Branch to be e s t a b l i s h e d a t 3121 South Maryland Parkway, Las Vegas, Clark County, Nevada. \J & 7J ]J 2j A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 19H1 No. 10 7 ACTIONS OF THE BOARD-Continued To Become a Member of the Federal Reserve System Pursuant t o S e c t i o n 9 of t h e F e d e r a l Reserve Act Philadelphia Approved Amersia Bank, P h i l a d e l p h i a , P e n n s y l v a n i a . 1/ & 2 / Richmond Dickenson-Buchanan Bank, H a y s i , V i r g i n i a . If * * * * & 2] * To O r g a n i z e , o r I n v e s t i n , a C o r p o r a t i o n Doing F o r e i g n Banking and Other F o r e i g n F i n a n c i n g Pursuant t o S e c t i o n 25 or 2 5 ( a ) of t h e F e d e r a l Reserve Act Richmond Atlanta Approved F i r s t Union N a t i o n a l Bank of North C a r o l i n a , C h a r l o t t e , North C a r o l i n a : g r a n t s c o n s e n t to e s t a b l i s h an Edge C o r p o r a t i o n to be named F i r s t Union I n t e r n a t i o n a l Banking C o r p o r a t i o n of North C a r o l i n a , C h a r l o t t e , North C a r o l i n a and to e s t a b l i s h a branch in New York C i t y . F i r s t N a t i o n a l Bank in Palm Beach, Palm Beach, F l o r i d a : g r a n t s c o n s e n t to e s t a b l i s h an Edge Corporation i n Miami, F l o r i d a to be named F i r s t Palm Beach I n t e r n a t i o n a l Bank, Dade County, F l o r i d a . * * * * * To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of t h e Bank Holding Company Act of 1956 Dallas Richmond Withdrawn Bonham B a n c s h a r e s , I n c . , Bonham, T e x a s , for approval t o a c q u i r e 80 p e r c e n t or more of the v o t i n g s h a r e s ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of The F i r s t N a t i o n a l Bank of Bonham, Bonham, T e x a s . 2J Approved James Madison L i m i t e d , Washington, D . C . , for approval t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of the s u c c e s s o r by merger t o Madison N a t i o n a l Bank, Washington, D.C. 1/ 1/ 2/ ~~ & 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d ' a s to the l e n g t h of the comment p e r i o d . H.2, 1981 No. 10 - 8 ACTIONS OF THE BOARD-Continued RichmoiKi Riggs N a t i o n a l C o r p o r a t i o n , Washington, D . C . , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of the s u c c e s or by merger to The Riggs N a t i o n a l Bank of Washington, D . C . , Washington, D.C. 2/ Atlanta Central and Southern Holding Company, M i l l e d g e v i l l e , G e o r g i a , for approval t o a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The C i t i z e n s and Southern Bank of Mil l e d g e v i l l e , M i l l e d g e v i l l e , G e o r g i a . 1/ & 2 / Atlanta H e r i t a g e F i n a n c i a l C o r p o r a t i o n , Loudon, T e n n e s s e e , f o r approval to a c q u i r e 81 percent of t h e v o t i n g s h a r e s of F i r s t H e r i t a g e N a t i o n a l Bank, Loudon, T e n n e s s e e . 1/ & 2/ Ch i c a g o Lansing B a n c s h a r e s , I n c . , L a n s i n g , I l l i n o i s , for approval t o a c q u i r e at l e a s t 80 percent of the v o t i n g s h a r e s of Bank of L a n s i n g , L a n s i n g , I l l i n o i s . J L / & - / St. Louis ABT Bancshares C o r p o r a t i o n , Hot S p r i n g s N a t i o n a l Park, A r k a n s a s , for approval to a c q u i r e a t l e a s t 80 percent of the v o t i n g s h a r e s of Arkansas Bank and Trust Company, Hot S p r i n g s N a t i o n a l Park, Arkansas. 1/ St. Louis F i r s t of S e a r c y , I n c . , S e a r c y , Arkansas, f o r approval t o a c q u i r e 80 percent of t h e v o t i n g s h a r e s o f F i r s t S e c u r i t y Bank, S e a r c y , Arkansas. I/ & 2] Kansas C i t y Weatherford B a n c s h a r e s , I n c . , W e a t h e r f o r d , Oklahoma, for approval t o a c q u i r e 80 p e r c e n t of the v o t i n g s h a r e s of S e c u r i t y S t a t e Bank, Weather f o r d , Oklahoma. J L / & 2 / Dal l a s D a r r o u z e t t B a n c s h a r e s , I n c . , D a r r o u z e t t , T e x a s , f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank of D a r r o u z e t t , D a r r o u z e t t , T e x a s . 1/ San F r a n c i sco At l a n t a JJ 2/ & 2/ Southwest Bancorp, V i s t a , C a l i f o r n i a , f o r approval t o a c q u i r e 80 percent of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger t o Southwest Bank, V i s t a , C a l i f o r n i a . I/ & 2j Denied Marine N a t i o n a l B a n c o r p o r a t i o n , J a c k s o n v i l l e , F l o r i d a , f o r approval t o a c q u i r e 9 2 . 6 p e r c e n t of the v o t i n g s h a r e s of Marine N a t i o n a l Bank of J a c k s o n v i l l e , J a c k s o n v i l l e , F l o r i d a . 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, No. 10 - 9 ACTIONS OF THE BOARD-Continued Minneapolis F i n a n c i a l S e r v i c e s of Winger, I n c . , Winger, Minnesota, for approval to a c q u i r e 9 4 . 6 percent of t h e v o t i n g s h a r e s of Farmers S t a t e Bank of Winger, Winger, M i n n e s o t a . 2] San Francisco Bank S h a r e s , I n c . , Lake Havasu C i t y , A r i z o n a , for approval t o a c q u i r e 3 2 . 5 7 per cent of the v o t i n g s h a r e s of The S t a t e Bank, Lake Havasu C i t y , A r i z o n a . 2 / * * * * * To Expand a Bank Holding Company Pursuant t o S e c t i o n 3 ( a ) ( 3 ) of t h e Bank Holding Company Act of 1956 Richmond Approved Piedmont BankGroup I n c o r p o r a t e d , M a r t i n s v i l l e , V i r g i n i a , f o r approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of t h e s u c c e s s o r by merger t o F i r s t N a t i o n a l Bank of Ferrum, Ferrum, V i r g i n i a . \ j & 2/ Chicago F i r s t S o u t h e a s t Banking C o r p . , Darien, W i s c o n s i n , for approval t o a c q u i r e 8 8 . 5 p e r c e n t of the v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of Lake Geneva, N . A . , Lake Geneva, W i s c o n s i n . 2J Minneapolis S t . Croix Banco, I n c . , New Richmond, W i s c o n s i n , f o r approval to a c q u i r e a t l e a s t 77 percent of t h e v o t i n g s h a r e s of Bank of S o m e r s e t , S o m e r s e t , W i s c o n s i n . \ J & 2/ Chicago Chicago C o n d i t i o n a l l y Approved F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , W i s c o n s i n , f o r approval to a c q u i r e 80 percent of t h e v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t , N.A. , Kenosha, W i s c o n s i n . 2/ F i r s t S o u t h e a s t Banking Corp. , Darien, W i s c o n s i n , for approval t o a c q u i r e 8 7 . 7 5 percent of the v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of S i l v e r Lake, S i l v e r Lake, W i s c o n s i n . 2/ Chicago Denied F i r s t S o u t h e a s t Banking Corp. , Darien, W i s c o n s i n , for approval t o a c q u i r e 80 p e r c e n t of the v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of West Kenosha, Kenosha, W i s c o n s i n . 2/ 1/ 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d aut hori t y . A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1981 No. 10 - 1 0 ACTIONS OF THE BOARD-Continued Chicago F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , W i s c o n s i n , f o r approval to a c q u i r e 8 8 . 7 5 percent of t h e v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of Twin Lakes, Twin Lakes, W i s c o n s i n . 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956 San Francisco Boston New York 1/ 2/ 3/ Approved Southwest Bancorp, V i s t a , C a l i f o r n i a , for approval to a c q u i r e Southwest T h r i f t and Loan A s s o c i a t i o n , San D i e g o , C a l i f o r n i a , e n g a g i n g i n the a c t i v i t i e s of an i n d u s t r i a l loan company i n c l u d i n g t h e i s s u a n c e of investment c e r t i f i c a t e s , e x t e n s i o n s of c r e d i t and a c t i n g as agent for t h e s a l e of c r e d i t r e l a t e d l i f e , h e a l t h and a c c i d e n t i n s u r a n c e . \J Permitted Worcester Bancorp, I n c . , W o r c e s t e r , M a s s a c h u s e t t s , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t h e s a l e of c r e d i t l i f e i n s u r a n c e , c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e and mortgage redemption i n s u r a n c e i n c o n n e c t i o n with e x t e n s i o n s of c r e d i t ) a t 919 Main S t r e e t , Chatham; Jones Road and G i f f o r d S t r e e t , Falmouth; North S t r e e t and B a s s e t t Lane, Hyannis; Main S t r e e t and Brewster Cross Road, O r l e a n s ; 170 Commercial S t r e e t , P r o v i n c e t o w n ; Route 6, W e i I f l e e t ; Route 28, West Harwich; and 1227 Main S t r e e t , W o r c e s t e r , a l l l o c a t e d i n Massa c h u s e t t s , through i t s wholly-owned s u b s i d i a r y , Wornat I n s u r a n c e Agency, I n c . ( 3 / 5 / 8 1 ) 3 / C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( p u r c h a s i n g f o r i t s own account and s e r v i c i n g s a l e s f i n a n c e c o n t r a c t s ; t h e s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h or d e c r e a s i n g or l e v e l ( i n t h e case of s i n g l e payment l o a n s ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s , a s r e q u i r e d ; making or a c q u i r i n g loans and other e x t e n s i o n s A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . 4 ( c ) ( 8 ) n o t i f i c a t i o n processed by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1981 No. 10 - 11 ACTIONS OF THE BOARD-Cont inued of c r e d i t , s e c u r e d or unsecured f o r consumer and o t h e r p u r p o s e s ; and the e x t e n s i o n o f l o a n s to d e a l e r s for t h e f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e s ; c r e d i t r e l a t e d l i f e , a c c i d e n t , and h e a l t h i n s u r ance may b e u n d e r w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e of C i t c o r p P e r s o n - 1 o - P e r s o n F i n a n c i a l C e n t e r , I n c . ) a t 2001 Gateway P l a c e , San J o s e , C a l i f o r n i a , through i t s s u b s i d i a r y , C i t i c o r p P e r s o n - t o Person Financial Center, I n c . ( 3 / 4 / 8 1 ) 3/ Cleveland Mellon N a t i o n a l C o r p o r a t i o n , P i t t s b u r g h , P e n n s y l v a n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( g e n e r a l consumer f i n a n c e a c t i v i t i e s i n c l u d i n g a c t i n g as i n s u r a n c e agent w i t h r e s p e c t to the s a l e s of c r e d i t l i f e i n s u r a n c e , c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e , and c r e d i t property i n s u r a n c e ; the o r i g i n a t i o n of second mortgage loans as perm i t t e d under t h e P e n n s y l v a n i a Secondary Mortgage Loan Act; c r e d i t l i f e and c r e d i t a c c i d e n t and s i c k n e s s i n s u r a n c e w r i t t e n in c o n n e c t i o n with t h e s e second mortgage l o a n s w i l l be p a r t i a l l y r e i n s u r e d by M e l l o n L i f e I n s u r a n c e Company) i n A l l e g h e n y County, P e n n s y l v a n i a , through i t s s u b s i d i a r y , Freedom F i n a n c i a l S e r v i c e s C o r p o r a t i o n and t h e r e l a t e d r e i n s u r a n c e company, Mellon L i f e I n s u r a n c e Company ( 2 / 2 8 / 8 1 ) 3 / Cleveland Pittsburgh National Corporation, Pittsburgh, Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( l e a s i n g p e r s o n a l p r o p e r t y or a c t i n g as a g e n t , broker or a d v i s e r i n l e a s i n g such property on a f u l l payout b a s i s i n accordance with p r o v i s i o n s of S e c t i o n 2 2 5 . 4 of R e g u l a t i o n Y; a l s o making or a c q u i r i n g loans and o t h e r e x t e n s i o n s of c r e d i t p r i n c i p a l l y i n t h e form of f i n a n c e l e a s i n g ) a t King of P r u s s i a Area, P h i l a d e l p h i a , Penns y l v a n i a , through i t s s u b s i d i a r y , P i t t s b u r g h N a t i o n a l L e a s i n g Corp. ( 2 / 2 2 / 8 1 ) 3 / San Franci sc o BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage i n t h e a c t i v i t y of p r o v i d i n g management c o n s u l t ing a d v i c e to commercial banks) a t One Powell S t r e e t , San F r a n c i s c o , C a l i f o r n i a , through i t s s u b s i d i a r y , BA Cheque C o r p o r a t i o n ( 3 / 7 / 8 1 ) 3 / 37 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . K H . 2 , 1981 No. 10 - 1 2 ACTIONS OF THE BOARD-Continued San Francisco S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage i n f i n a n c i n g and i n d u s t r i a l l o a n c o r p o r a t i o n a c t i v i t i e s i n c l u d i n g making, a c q u i r i n g and s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t ; s e l l i n g and i s s u i n g i n v e s t m e n t c e r t i f i c a t e s ; and a c t i n g as agent for t h e s a l e of c r e d i t r e l a t e d l i f e , c r e d i t r e l a t e d a c c i d e n t and h e a l t h and c r e d i t r e l a t e d p r o p e r t y i n s u r a n c e , a l l as a u t h o r i z e d by C a l i f o r n i a law) i n E n c i n o , C a l i f o r n i a , through i t s i n d i r e c t s u b s i d i a r y , S e c u r i t y P a c i f i c Finance Money C e n t e r , I n c . ( 3 / 6 / 8 1 ) 3/ San Franci s c o S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , for i t s own account or for t h e a c count of o t h e r s , l o a n s and e x t e n s i o n s of c r e d i t i n c l u d i n g making consumer i n s t a l l m e n t p e r s o n a l l o a n s , p u r c h a s i n g consumer i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s , making l o a n s t o small b u s i n e s s e s and other e x t e n s i o n s of c r e d i t such as would be made by a f a c t o r i n g company or a consumer f i n a n c e company; and a c t i n g a s broker or agent for the s a l e of c r e d i t r e l a t e d l i f e , a c c i d e n t and h e a l t h i n s u r a n c e ) a t 371 Merrick Road, R o c k v i l l e C e n t e r , New York and S u i t e 3 - A 2 , 701 W e s t c h e s t e r Avenue, White P l a i n s , New York, through i t s i n d i r e c t s u b s i d i a r i e s , S e c u r i t y P a c i f i c Finance Corp. and S e c u r i t y P a c i f i c Finance C r e d i t Services, Inc. (3/7/81) 3/ San F r a n c i sco S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to r e l o c a t e de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , loans and e x t e n s i o n s of c r e d i t i n c l u d i n g making consumer i n s t a l l m e n t personal l o a n s , purchasing consumer i n s t a l l m e n t personal l o a n s , p u r c h a s i n g consumer i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s , making loans to s m a l l b u s i n e s s e s and other e x t e n s i o n s of c r e d i t such as would be made by a f a c t o r i n g company or a consumer f i n a n c e company; and a c t i n g a s broker or agent for the s a l e of c r e d i t r e l a t e d l i f e , a c c i d e n t and h e a l t h i n s u r a n c e arid c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e ) from 509 South Marion, 500 Block B u i l d i n g , Lake C i t y , F l o r i d a to 1115 N.W. 13th S t r e e t , G a i n s v i l l e , F l o r i d a , through i t s i n d i r e c t s u b s i d i a r i e s , S e c u r i t y P a c i f i c Finance Corp. and S e c u r i t y P a c i f i c F i n a n c e C r e d i t Corp. ( 3 / 7 / 8 1 ) 3 / 3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1981 No. 10 - 13 ACTIONS OF THE BOARD-Continued San Francisco 3/ Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , loans and other e x t e n s i o n s of c r e d i t ; s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t f o r o t h e r p e r s o n s ; a c t i n g as an i n s u r a n c e agent or b r o k e r with r e s p e c t to the f o l l o w i n g t y p e s of i n s u r a n c e : ( 1 ) c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e and ( 2 ) mortgage redemption l i f e i n s u r a n c e and group mortgage d i s a b i l i t y i n s u r a n c e , and performing a p p r a i s a l s of r e a l e s t a t e ) i n San J o s e , C a l i f o r n i a s e r v i n g C a l i f o r n i a , Nevada A r i z o n a , Oregon, Washington, Idaho, Utah, Montana, Wyoming C o l o r a d o , Hawaii and Ohio, through i t s s u b s i d i a r y , Wells Fargo Mortgage Company ( 3 / 7 / 8 1 ) 3 / 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . I H.2, 1981 No. 10 - 14 APPLICATIONS RECEIVED To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of t h e F e d e r a l Reserve Act New York Chemical Bank, New York, New York. Branch to be e s t a b l i s h e d at IBM C o r p o r a t i o n , 520 White P l a i n s Road, Tarrytown, W e s t c h e s t e r County, New York. 2/ New York Chemical Bank, New York, New York. Branch to be e s t a b l i s h e d a t IBM C o r p o r a t i o n , Old Orchard Road, Armonk, W e s t c h e s t e r County, New York. 2 / New York Chemical Bank, New York, New York. Branch to be e s t a b l i s h e d at IBM C o r p o r a t i o n , 400 Columbus Avenue, V a l h a l l a , W e s t c h e s t e r County, New York. 2/ New York Manufacturers Hanover Trust Company, New York, New York. Branch to be e s t a b l i s h e d at 130 John S t r e e t , New York, New York. 2 / Cleveland Ohio C i t i z e n s Bank, T o l e d o , O h i o . Branch to be e s t a b l i s h e d at t h e s o u t h e a s t c o r n e r of Cherry S t r e e t at Delaware S t r e e t , T o l e d o , O h i o . If Cleveland Ohio C i t i z e n s Bank, T o l e d o , Ohio. Branch to be e s t a b l i s h e d a t R i v e r s i d e H o s p i t a l , 1600 North S u p e r i o r S t r e e t , T o l e d o , Ohio. 2/ Chicago Davenport Bank and Trust Company, Davenport, Iowa. To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y a t West C e n t r a l Park and Marquette S t r e e t , D a v e n p o r t , Iowa. 2/ Ch i c a g o S p r i n g f i e l d Marine Bank, S p r i n g f i e l d , I l l i n o i s . To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y a t 1834-1836 W. J e f f e r s o n and 2657 South 9th S t r e e t , S p r i n g f i e l d , I l l i n o i s . 2/ San F r a n c i sco United C a l i f o r n i a Bank, Los A n g e l e s , C a l i f o r n i a . Branch to be e s t a b l i s h e d in t h e v i c i n i t y of t h e i n t e r s e c t i o n of C l o v i s and Shaw Avenues, C l o v i s , Fresno County, C a l i fornia. 2/ 2/ A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d a s to the l e n g t h of the comment p e r i o d . i H.2, >1 No. 10 - 15 APPLICATIONS RECEIVED-Continued A p p l i c a t i o n s and N o t i f i c a t i o n s f o r I n t e r n a t i o n a l I n v e s t ments and Other A c t i o n s Pursuant t o S e c t i o n s 25 and 2 5 ( a ) of the Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of t h e Bank Holding Company Act o f 1956, as amended New York The Royal Bank of S c o t l a n d Group L i m i t e d and i t s w h o l l y owned s u b s i d i a r y , The Royal Bank o f S c o t l a n d L i m i t e d , both of Edinburgh, S c o t l a n d : c o n s e n t to a c q u i r e through a S c o t t i s h s u b s i d i a r y , Royal Scot Energy L i m i t e d , worki n g i n t e r e s t i n o i l and g a s l e a s e s i n the United S t a t e s . * * * * * To Form a Bank Holding Company Pursuant t o S e c t i o n 3 ( a ) ( 1 ) of t h e Bank H o l d i n g Company Act of 1956 Philadelphia F i r s t m a r k , I n c . , A l l e n t o w n , P e n n s y l v a n i a , for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank of A l l e n t o w n , A1lentown, P e n n s y l v a n i a . 2 / Cleveland I n t e r c o u n t y B a n c s h a r e s , I n c . , Wilmington, O h i o , f o r approval to a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of the v o t i n g s h a r e s of The C l i n t o n County N a t i o n a l Bank and T r u s t Company of Wilmington, Wilmington, Ohio. 2 / Atlanta ABC Holding Company, M o u l t r i e , G e o r g i a , f o r approval t o a c q u i r e 100 percent of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger to American Banking Company, M o u l t r i e , G e o r g i a . U Atlanta Great American Bancorp, North Miami, F l o r i d a , f o r approval to a c q u i r e 93 percent of t h e v o t i n g s h a r e s o f ComBanks C o r p o r a t i o n , Winter Park, F l o r i d a and i n d i r e c t l y Great American Banks, I n c . , North Miami, F l o r i d a and a l s o F i r s t Marine Banks I n c . , R i v i e r a Beach, F l o r i d a . If Chicago De Witt Bancorp, I n c . , De W i t t , Iowa, for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of De Witt Bank & T r u s t C o . , De W i t t , Iowa. 2 / Minneapolis Almelund Bancshares, I n c . , Almelund, Minnesota, f o r approval to a c q u i r e 94 percent of t h e v o t i n g s h a r e s of Farmers S t a t e Bank of Almelund, Almelund, Minnesota. 2/ if A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvesmtent O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment -period. H.2, 1981 No. 10 - 16 APPLICATIONS RECEIVED-Cont inued Minneapoli s B & M Bancshares, I n c . , Fairmont, Minnesota, f o r approval to a c q u i r e 8 0 . 1 percent of t h e v o t i n g s h a r e s of S t a t e Bank of F a i r m o n t , Fairmont, Minnesota. 2J Minneapolis Crosstown Holding Company, Ham Lake, Minnesota, for approval t o a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of Cr osstown S t a t e Bank of Ham Lake I n c . , Ham Lake, Minnesota. 2\J Minneapo l i s Rice Lake Bancorp. , I n c . , Rice Lake, W i s c o n s i n , for approval t o a c q u i r e 80 percent of the v o t i n g s h a r e s of D a i r y S t a t e Bank, Rice Lake, W i s c o n s i n . 2/ Kansas C i t y Campbell S t a t e Company, Campbell, Nebraska, f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s o f Campbell S t a t e Bank, Campbell, Nebraska. 2 / Kansas C i t y Mercer Bancorp, I n c . , Mercer, M i s s o u r i , for approval t o a c q u i r e at l e a s t 80 percent of the v o t i n g s h a r e s of The P e o p l e s Bank o f Mercer, Mercer, M i s s o u r i . 2 / Dallas Colbert B a n c s h a r e s , I n c . , C o l b e r t , Oklahoma, f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of F i r s t N a t i o n a l Bank of C o l b e r t , C o l b e r t , Oklahoma. 2/ To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of t h e Bank Holding Company Act of 1956 Boston F i r s t Bancorp of N . H . , I n c . , Manchester, New Hampshire, for approval to a c q u i r e 80 percent or more of t h e v o t i n g s h a r e s of White Mountain N a t i o n a l Bank of North Conway, North Conway, New Hampshire. 2 / Cleveland Ohio C i t i z e n s Bancorp, I n c . , T o l e d o , O h i o , f o r approval t o a c q u i r e 8 0 . 8 1 percent of t h e v o t i n g s h a r e s of The Farmers & Merchants D e p o s i t Company, Swanton, O h i o . 7 j S t . Louis Mark Twain B a n c s h a r e s , I n c . , S t . L o u i s , M i s s o u r i , for approval t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f Mid-Continent Bank of Kansas C i t y , Kansas City, Missouri. 2/ 27 A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1981 No. 10 - 1 7 APPLICATIONS RECEIVED-Cont inued To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Holding Company Act of 1956 New York C i t i c o r p , New York, New York, r e q u e s t s p e r m i s s i o n to expand t h e s e r v i c e area of e x i s t i n g o f f i c e s e n g a g i n g in t h e f o l l o w i n g a c t i v i t i e s ( t h e making or a c q u i r i n g of l o a n s and other e x t e n s i o n s of c r e d i t , secured or u n s e c u r e d , f o r consumers and o t h e r p u r p o s e s ; the e x t e n s i o n of l o a n s to d e a l e r s for t h e f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e s ; the purchasing and s e r v i c i n g for i t s own account of s a l e s f i n a n c e c o n t r a c t s ; the s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h or d e c r e a s i n g or l e v e l ( i n t h e c a s e of s i n g l e payment l o a n s ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s , a s r e q u i r e d ; t h e s a l e of c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e p r o t e c t i n g r e a l and p e r s o n a l p r o p e r t y s u b j e c t to a s e c u r i t y agreement w i t h C i t i c o r p P e r s o n - t o - P e r s o n F i n a n c i a l C e n t e r , I n c . t o the e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r ance laws and r e g u l a t i o n s ; and t h e s e r v i c i n g , for any p e r s o n , o f l o a n s and o t h e r e x t e n s i o n s of c r e d i t ; the proposed expanded s e r v i c e area of both o f f i c e s would be comprised of the e n t i r e S t a t e of V i r g i n i a f o r a l l of the a f o r e m e n t i o n e d a c t i v i t i e s except t h a t t h i s a p p l i c a t i o n would not expand t h e s e r v i c e area f o r the s a l e of c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e ; c r e d i t r e l a t e d l i f e , a c c i d e n t , and h e a l t h i n s u r a n c e may be w r i t t e n by Family Guardian L i f e I n s u r a n c e Company, an a f f i l i a t e of C i t i c o r p P e r s o n - t o - P e r s o n F i n a n c i a l C e n t e r , I n c . ) at 101 Buford Road, Richmond, V i r g i n i a and 5718 E. V i r g i n i a Beach B o u l e v a r d , N o r f o l k , V i r g i n i a , through i t s s u b s i d i a r y , Citicorp Person-to-Person Financial Center, Inc. ( 3 / 4 / 8 1 ) 3/ New York Chemical New York C o r p o r a t i o n , New York, New York, t o expand t h e a c t i v i t i e s of i t s i n d i r e c t s u b s i d i a r i e s , Sun S t a t e s L i f e Insurance Company and Great Lakes Insurance Company, both o f C l e v e l a n d , O h i o , to i n c l u d e the r e i n s u r i n g of c r e d i t l i f e and a c c i d e n t and h e a l t h i n s u r a n c e w r i t t e n in c o n n e c t i o n with e x t e n s i o n s o f c r e d i t made by t h e f i n a n c e s u b s i d i a r i e s of A p p l i c a n t ' s d i r e c t s u b s i d i a r y , Sunamerica C o r p o r a t i o n , i n t h e S t a t e of F l o r i d a ( 3 / 6 / 8 1 ) 3/ . Cleveland Pittsburgh National Corporation, Pittsburgh, Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage i n t h e f o l l o w i n g a c t i v i t y (mortgage banking, i n c l u d i n g t h e making or a c q u i r i n g and s e r v i c i n g for i t s own account and for t h e account of o t h e r s , 3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1981 No. 10 - 18 APPLICATIONS RECEIVED-Cont inued loans and o t h e r e x t e n s i o n s of c r e d i t ) i n the m e t r o p o l i t a n area of Tucson, A r i z o n a , through i t s s u b s i d i a r y , The K i s s e l 1 Company, S p r i n g f i e l d , Ohio ( 3 / 6 / 8 1 ) 3/ Atlanta Great American Bancorp, North Miami, F l o r i d a , for approval t o a c q u i r e C o n s o l i d a t e d Recovery S e r v i c e I n c . , Winter Park, F l o r i d a ; ComBanks I n s u r a n c e Agency, I n c . , Winter Park, F l o r i d a ; American Bancshares S e r v i c e s , I n c . , North Miami, F l o r i d a ; American B a n c s h a r e s Mortgage Company, I n c . , North Miami, F l o r i d a ; American P r o p e r t i e s Holding Company, North Miami, F l o r i d a ; American Bancshares I n s u r ance Agency, I n c . , North Miami, F l o r i d a . Chicago Irwin Union C o r p o r a t i o n , Columbus, O h i o , for approval t o a c q u i r e s u b s t a n t i a l l y a l l of the a s s e t s of Inland Mortgage Company, I n c . , I n d i a n a p o l i s , I n d i a n a , through i t s newly formed s u b s i d i a r y , I r w i n Union Mortgage Corporat i o n and I n l a n d Mortgage C o . , I n c . Kansas C i t y Southwest Bancshares C o r p o r a t i o n , Oklahoma C i t y , Oklahoma, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t h e s a l e of i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s of c r e d i t by i t s s u b s i d i a r y bank, Farmers and Merchants Bank, E u f a u l a , Oklahoma and by i t s nonbanking l e n d i n g s u b s i d i a r y , PBC F i n a n c i a l C o r p o r a t i o n , Oklahoma C i t y , Oklahoma) i n E u f a u l a , Oklahoma and Oklahoma C i t y , Oklahoma, t h e geographic area to be served by t h e E u f a u l a , Oklahoma o f f i c e i n c l u d e s M c i n t o s h County, Oklahoma and t h e geographic area to be served by the Oklahoma C i t y , Oklahoma o f f i c e i n c l u d e s the Oklahoma C i t y SMSA, through a s u b s i d i a r y , Southwest Bancshares Insurance Agency, I n c . ( 3 / 3 / 8 1 ) 3/ Kansas C i t y FirstBank Holding Company, Lakewood, Colorado, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in i n d u s t r i a l banking a c t i v i t i e s ) the g e o g r a p h i c area to be s e r v e d i n c l u d e s the Town of V a i l , Colorado and t h e surrounding a r e a , through a s u b s i d i a r y , V a i l F i r s tBank I n d u s t r i a l Bank, V a i l , C o l o r a d o ( 3 / 6 / 8 1 ) 3 / San Francisco S e a f i r s t C o r p o r a t i o n , S e a t t l e , Washington, f o r approval t o engage in t h e i s s u a n c e of t r a v e l e r s ' checks through a de novo s u b s i d i a r y , S e a f i r s t Payment S e r v i c e s C o r p o r a t i o n . _3/ 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by Rserve Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1981 No. 10 - 19 APPLICATIONS RECEIVED-Continued San Francisco S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n jle novo a c t i v i t i e s ( a c t ing a s e s c r o w a g e n t f o r the purchase and s a l e of r e a l p r o p e r t y and the e x e c u t i o n of a l l documents and d i s p e r s a l of funds r e l a t i n g t o l o a n t r a n s a c t i o n s , and a l l o t h e r a c t i v i t i e s engaged i n by an e s c r o w company) a t 8141 East Second S t r e e t , S u i t e 3 0 0 , Downey, C a l i f o r n i a , s e r v i n g t h e S t a t e of C a l i f o r n i a , through i t s s u b s i d i a r y , S.P.M.C. Escrow, I n c . ( 3 / 2 / 8 1 ) 3 / San Francisco W e l l s Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g l o a n s or other e x t e n s i o n s of c r e d i t , i n c l u d ing commercial loans secured by a borrower°s i n v e n t o r y , a c c o u n t s r e c e i v a b l e , or other a s s e t s ; s e r v i c i n g l o a n s f o r the account of o t h e r s ) a t H e i g h t s P l a z a , 777 Terrace Avenue, Hasbrouck H e i g h t s , New J e r s e y s e r v i c i n g Maine, Vermont, New Hampshire, M a s s a c h u s e t t s , C o n n e c t i c u t , New York, Rhode I s l a n d and New J e r s e y , through i t s s u b s i d i a r y , W e l l s Fargo B u s i n e s s C r e d i t ( 2 / 2 6 / 8 1 ) 3 / * * * * * REPORTS RECEIVED Ownership S t a t e m e n t F i l e d Pursuant to S e c t i o n 1 3 ( d ) o f t h e S e c u r i t i e s Exchange Act Wyandotte S a v i n g s Bank, Wyandotte, Michigan ( F i l e d by Joyce V. Y o s t ) * * * * * PETITIONS FOR RULEMAKING None 3/ ~~ 4 ( c ) ( 8 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y .
@FedFRASER