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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
OH.2, 1979 No. 19)
Actions of the Board; Applications and Reports
APPLICABLE
RESERVE BANK
Received During the Week Ending May 12, 1979
ACTIONS OF THE BOARD
Statement by Governor J. Charles Partee before the Subcarmittee en Financial Institutions Supervision,
Regulation and Insurance of the House Banking Committee to discuss the new savings instruments proposed
last month by the financial regulatory agencies.
Revised statement on classification of bank assets and
appraisal of securities in bank examinations, including amended rules for assessing bank holdings of
municipal general obligations, was issued today by
State and Federal bank supervisors.
Interlocking relationships, request fron Freedom National
Bank of New York, for a determination of the applicability of Regulation L to the appointments of Mr.
Ronald A. Honer, Assistant Vice President, Marine
Midland Bank, Buffalo, New York, who is currently
assigned to Marine Midland's New York office, to serve
as Senior Vice President of Freedom, and of Mr. Benjamin
Scott Jinks, currently Vice President, Chase Manhattan
Bank, New York, to serve as a director of Freedom.
Atlanta
Combanks Corporation, Winter Park, Florida, extension of
time to August 28, 1979, within which to acquire 51.5
per cent of the voting shares of American Bancshares,
Incorporated, North Miami, Florida. 1/
Cleveland
Central Trust Company, Reynoldsburg, Ohio, extension of
time to June 14, 1979, within which to acquire by
merger The Central Trust Company of Zanesville,
Janesville, Ohio. 1/
New York
Manufacturers Hanover Trust Company, New York, New York,
permission to make an additional investment in bank
premises. 1/
Chicago
Bank of Sturgeon Bay, Sturgeon Bay, Wisconsin, extension
of time to June 7, 1979, within which to establish
branches; (1) in the Village of Ellison Bay, Tcwn of
Liberty Grove, and (2) in the Village of Egg Harbor,
Wisconsin. 1/
1/ Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1979 No. 19
ACTIONS OF THE BQARD-Continued
New York
Citibank Overseas Investment Corporation, New York, New
York, an additional one-year extension of time within
which to purchase and hold, directly or indirectly,
additional shares of Investors Finance Corporation,
Makati, Rizal, Philippines. 1/
New York
Arcadia National Bank, Secaucus, New Jersey, proposed
merger with National Community Bank of New Jersey,
Rutherford, New Jersey; report to the Comptroller of
the Currency on competitive factors. 1/
San
Francisco
Banco Aleman Transatlantic^), Buenos Aires, Argentina,
the Rosario branch of, proposed acquisition by Bank of
America National Trust & Savings Association, San
Francisco, California; report to the Federal Deposit
Insurance Corporation on competitive factors. 1/
Minneapolis
First State Bank of Rice, Rice, Minnesota, proposed
merger with The First American National Bank of St.
Cloud, St. Cloud, Minnesota; report to the Comptroller
of the Currency on competitive factors. 1/
Atlanta
Florida Bankshares, Inc., Hollywood, Florida, subsidiaries of, proposed merger with First National Bank of
Hollywood, Hollywood, Florida; report to the Comptroller of the Currency on competitive factors. 1/
San
Francisco
Gold Country Bank, Grass Valley, California, proposed
merger with IBC Investment Corporation, San Rafael,
California; report to the Federal Deposit Insurance
Corporation on competitive factors. 1/
Atlanta
Popular Bank of Tampa, Tampa, Florida, proposed merger
with Central Bank of Tampa, Tampa, Florida; report to
the Federal Deposit Insurance Corporation on competitive factors. 1/
Dallas
Southmore Street State Bank, Pasadena, Texas, proposed
merger with San Jacinto State Bank, Pasadena, Texas,
report to the Federal Deposit Insurance Corporation on
competitive factors. 1/
l7 Application processed on behalf of the Board of Governors under delegated
~~ authority.
i
- 3 -
H.2, 1979 No. 19
ACTIONS OF THE BQARD-Ccntinued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Boston
Approved
The Merrill Trust Company, Bangor, Maine. Branch to
be established on Main Street (Route 11), Village of
Brownville Junction, Tcwn of Brownville. 1/ & 2/
New York
Barlcays Bank of New York, New York, New York. Branch
to be established at 180 Oser Avenue, Hauppauge. 1/ &
2/
Cleveland
The Fifth Third Bank, Cincinnati, Ohio. Branch to be
established at Bach-Buxton & SR 125, Union Tcwnship,
Clermont County. 1/ & 2/
Cleveland
The Provident Bank, Cincinnati, Ohio. Branch to be
established at 5000 Block Crookshank Road, Cincinnati,
Hamilton County. 1/ & 2/
Richmond
Aquia Bank and Trust Canpany, Stafford, Virginia. Branch
to be established on U.S. Route 17, 1.5 miles west of
its intersection with U.S. Route 1, Stafford County.
V & 2/
Chicago
American Trust & Savings Bank, Dubuque, Iowa. Branch to
be established at 2900 Dodge Street, Dubuque. 1/ & 2/
Kansas City
The Rio Grande County Bank, Del Norte, Colorado. Branch
to be established at 116 Creede Avenue, Creede. 1/ &
1/
Chicago
San
Francisco
Withdravm
River Rouge Savings Bank, River Rouge, Michigan. Branch
to be established at 10537 West Jefferson Avenue,
River Rouge, Wayne County.
Valley Bank of Nevada, Las Vegas, Nevada. Branch to be
established 600 feet west of Valley View Boulevard on
the north side of Meadows Lane, Las Vegas.
1/ Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the Applicable Reserve Bank may be contacted
as to the length of the Garment period.
H.2, 1979 No. 19
- 4 ACTIONS OF THE BQARD-Continued
To Beccme a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
Kansas City
Approved
The Union Colony Bank, Greeley, Colorado. 1/ & 2/
*
*
*
*
*
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Richmond
Richmond
Approved
Bank of Virginia, Richmond, Virginia: grants permission to establish a branch in Nassau, Bahamas.
Union First National Bank of Washington, Washington,
D.C.: grants permission to establish a branch in
Nassau, Bahamas.
* * * * *
International Investments and Other Actions Pursuant to
Sections 25 and 25(a) of the Federal Reserve Act and
Sections 4(c) (9) and 4(c) (13) of the Bank Holding Company
Act of 1956, as amended
New York
New York
Approved
Citibank Overseas Investment Corporation, Wilmington,
Delaware: grants consent to purchase and hold,
directly or indirectly, 70 per cent of the shares of a
de novo investment bank, Banco de Inversion del Rio de
la Plata, S.A., Buenos Aires, Argentina; permission is
also granted for Edge to continue to hold the shares
of BANCO after BANCO issues debt obligations with
maturities in excess of one year and to engage in the
business of underwriting or dealing in securities
outside the United States.
Manufacturers Hanover International Finance Corporation,
New York, New York: grants consent to purchase and
hold, directly or indirectly, an additional 26 shares
of Manufacturers Hanover Property Services A.G.,
Zurich, Switzerland.
17 Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Community
~
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
- 5 -
H.2, 1979 No. 19
ACTIONS OF THE BOARD-Ccntinued
New York
Morgan Guaranty International Finance Corporation, New
York, New York: grants consent to purchase and hold,
directly or indirectly, 1,350,000 additional shares of
Bian Chiang Bank Bhd., Kuching, Malaysia.
*
*
*
*
*
To Form a Bank Holding Company Pursuant to Section
3 (a) (1) of the Bank Holding Company Act of 1956
St. Louis
Approved
Citizens Bancgroup & Co., St. Ann, Missouri, for approval to acquire 89.7 per cent of the voting shares
(less directors' qualifying shares) of Citizens
National Bank of Greater St. Louis, Maplewood,
Missouri. 2/
St. Louis
Meta Banco, Inc., Meta, Missouri, for approval to
acquire 97.6 per cent of the voting shares of Meta
State Bank, Meta, Missouri. 1/ & 2/
Kansas City
Guaranty Bancshares, Inc., Oklahoma City, Oklahoma, for
approval to acquire 100 per cent (less directors'
qualifying shares) of the voting shares of Guaranty
Bank & Trust Co., Oklahoma City, Oklahoma. 1/ & 2/
Kansas City
Northeastern Wyoming Bank Corporation, Inc., Newcastle,
Vfycming, for approval to acquire 66 per cent of the
voting shares of First State Bank of Newcastle,
Newcastle, Wyoming. 1/ & 2/
Kansas City
United Bancshares, Inc., Tulsa, Oklahoma, for approval
to acquire 100 per cent of the voting shares (less
directors1 qualifying shares) of United Bank, Tulsa,
Oklahoma. 2/
Dallas
East Texas Bancshares, Inc., Tyler, Texas, for approval
to acquire 80 per cent or more of the voting shares of
Heritage National Bank, Tyler, Texas. 1/ & 2/
37 Application processed on behalf of the Board of Governors under delegated
authority.
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1979 No. 19
—
6
—
ACTIONS OF THE DQARD-Ccntinued
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Approved
The Summit Banoorporation, Summit, New Jersey, for approval to acquire 100 per cent of the voting shares of
The Chatham Trust Company, Chatham Township, New
Jersey. 1/ & 2/
New York
*
* * * *
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Approved
F.N.B. Corporation, Sharon, Pennsylvania, for approval
to acquire substantially all of the assets of TRY-M
Consumer Discount Ocmpany, Warren, Pennsylvania.
Cleveland
Withdrawn
First Pennsylvania Corporation, Philadelphia, Pennsylvania,
for <*%*#rcval to retain its indirect ownership of
Industrial Kin.yiw & Hirift Corporation, Ntw Orleans,
Inu&siiina.
i
h u!
:
Kirlwtaki
»
I\'m%s\lvLmiaCorporation, Philadelphia, Pennsylvania,
to retain its indirect ownership of
Investors Loan Corporation# Philadulphia, Pennsylvania.
1 irst Pennsylvania Ct^nwation, Philadelphia, Pennsylvania,
!or a;^)rwal to
its indirect ownership of
Vestaur Cor:%iration, Philadelphia, Pennsylvania.
!^?tunied
ihuon Trust Banoorp, Baltimore, Maryland, notification of
intent to relocate de novo activities (nvikinc] installment loans to individuals for personal, family or
hcui'ch ,ic! ;xirpjoses; purchasing sales finnnec ennf racts
exeru^L\i in connection with Uie sale of |.x:rsonaly
tidily or iiou^eliold gcxxls or services; acting as
in the sale of (Trxiit Tiff and
,ieeident .ux!
vi]th insur.inre din r-t lv
to its i/xtens ions of
1/ Application processed on bolialf of tlie Board of Governors under delegated
authority.
2/
"
Application subject to Community Reinvestment Act. The Ccmnunity
Reinvestment Officer of the applicable Reserve Rank may be contacted
as to the length of the comment period.
ACTIONS OF TEE BQARD-Ccntinued
of credit; acting as agent in the sale of insurance
protecting collateral held against the extensions of
credit; and making second mortgage loans secured in
whole or in part by mortgage or other lien on real
estate) frcm 1006 Watson Boulevard, Warner Robins to
1813 Watson Boulevard, Warner Rabbins, Georgia through
its subsidiary, Landmark Financial Services, Inc.
(5/9/79) 3/
Kansas City
New York
New York
Delayed
Republic Bancorporation, Inc., Tulsa, Oklahoma, notification of intent to engage in de novo activities
(the issuance of passbook type and term thrift certificates and make secured commercial and consumer
loans, and offer safe deposit box services to its
custoners) at 501 South Boston, Tulsa, Oklahoma,
through its wholly-owned subsidiary, Republic Trust
and Savings Company (5/10/79) 3/
Reactivated
Citicorp, New York, New York, notification of intent to
engage in de novo activities (acting as agent or
broker for the sale of property and casualty insurance
for property securing extensions of credit for the
provision of other financial services by Applicant's
subsidiary, Advance Mortgage Corporation, generally
with regard to one-to-four family residences, and to
include liability coverage in homeowners "package"
policies where such is the general practice) at 9247
North Meridian Street, Indianapolis, Indiana, through
its subsidiary, Advance Insurance Agency, Inc. at
offices in Merrillville and Indianapolis, Indiana and
in Springfield, Hillside and Waukegan, Illinois which
were listed as Received en H.2 No. 4, 1979 and at
offices in Cleveland, Dayton and Cincinnati, Ohio and
in Towson (2 offices) and Severna Park, Maryland which
were listed as Received on H.2 No. 1, 1979 (5/7/79) 3/
Permitted
Citicorp, New York, New York, notification of intent
to engage in de novo activities (acting as agent or
broker for the sale of property and casualty insurance
for property securing extensions of credit or the
provision of other financial services by Applicant's
subsidiary, Advance Mortgage Corporation, generally
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 19
-
8 —
ACTIONS OF THE BQARD-Cootinued
with regard to one-to-four family residences, and to
include liability coverage in homeowners "package"
policies where such is the general practice) at 9247
North Meridian Street, Indianapolis, Indiana, through
its subsidiary, Advance Insurance Agency, Inc. at
offices in Merrillville and Indianapolis, Indiana and
in Springfield, Hillside and Waukegan, Illinois which
were listed as Received on H.2 No. 4, 1979 and at
offices in Cleveland, Dayton and Cincinnati, Ohio and
in Tcwson (2 offices) and Severna Park, Maryland which
were listed as Received on H.2 No. 1, 1979 (5/8/79) 3/
Philadelphia
The Girard Company, Bala Cynwyd, Pennsylvania, notification of intent to engage in de novo activities
(providing processing and storing of banking, customer, operational and other financial data far bank
correspondents of Girard Bank and other banks, including in such services data base systems, processing of
data for customer records and statements and auxiliary
activities such as payroll, general ledger and similar
systems, through services rendered at the data center
of Girard Bank in Philadelphia, Pennsylvania and
facilitating activities at sites leased from such
correspondents and other banks) such activities will
be conducted at locations in Philadelphia, Pennsylvania,
and other locations in Pennsylvania, Delaware, New
Jersey, New York, and Maryland, through an existing
subsidiary, Girard Services, Inc., Three Girard Plaza,
Philadelphia, Pennsylvania (5/12/79) 3/
Philadelphia
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo
activities (servicing residential mortgage loans) at
11400 Rockville Pike, Suite 200, Rockville, Maryland,
through its subsidiary, Colonial Mortgage Service
Company Associates, Inc. (5/6/79) 3/
Philadelphia
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to (a) to engage in
de novo activities (originating FHA, VA and Conventional residential mortgage loans) at Route 5 South,
Hughesville, Maryland, 11400 Rockville Pike, Suite
200, Rockville, Maryland, and 9111 Edmonston Pike,
Suite 200, Greenbelt, Maryland, through its subsidiary, Colonial Mortgage Service Company Associates,
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
~~ of the Board of Governors under delegated authority.
H.2, 1979 No. 19
- 9 ACTIONS OF TOE BQARD-Continued
Inc. and (b) to relocate de novo activities (mortgage
loan origination activities) frcm 600 Reistertown
Road, Pikesville, Maryland to 1224 and 1230 Race Road,
Baltimore, Maryland, through a subsidiary, Colonial
Mortgage Service Company Associates, Inc. (5/6/79) 3/
Chicago
SJV Corporation, Elkhart, Indiana, notification of intent
to engage in de novo activities (making or acquiring,
for its own account or for the account of others,
loans and other extensions of credit including secured
and unsecured consumer loans, such as would be made by
a mortgage or finance company; and selling, as an insurance agent, credit life and credit accident and
health insurance which is directly related to and in
connection with said loans and other extensions of
credit) at 2445 State Street, Lafayette, Indiana,
through its subsidiary, St. Joseph Valley Finance
Corp. (5/6/79) 3/
Kansas City
Colorado National Bankshares, Inc., Denver, Colorado,
notification of intent to engage in de novo activities
(making, acquiring, arranging and servicing, for its
own account or for the account of others, loans and
other extensions of credit such as would be made, for
example, by a finance company or a factoring company)
the proposed activities will be conducted within the
boundaries of Colorado, Wyoming, Utah, New Mexico,
Nebraska, Montana, and Kansas by personnel based in
the company's office in Denver, Colorado, through a
subsidiary, Colorado National Leasing, Inc. (5/10/79)
1/
Kansas City
Mid-Continent Corporation, Shawnee Mission, Kansas, notification of intent to engage in de novo activities
(making second mortgage real estate loans, automobile
loans, appliance loans and the associated credit life,
accident and health insurance conducive to these types
of loans) to be located within a radius of one-half
mile of the intersection of Harrison Avenue and
Eighth Street, Leadville, Colorado, through a subsidiary, Mid-Continent Industrial Bank (5/11/79) 3/
San
Francisco
Seafirst Corporation, Seattle, Washington, notification
of intent to engage in de novo activities (providing
portfolio investment advice) at 3615 Seattle-First
National Bank Building, Seattle, Washington, through a
subsidiary, Seafirst Advisors, Inc. (5/6/79) 3/
37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1979 No. 19
— 10 —
ACTIONS OF THE BQARD-Continued
San
Francisco
Walls Fargo & Company, San Francisco, California, notification of Intent to engage in de novo activities
(making or acquiring, for its cmi account or for the
account of others, loans and other extensions of
credit; and leasing personal or real property or acting as agent, broker or adviser in leasing such property where the lease is to serve as the functional
equivalent of an extension of credit to the lessee of
the property and where at the inception of the initial
lease of the transaction (and, with respect to
governmental entities only, reasonably anticipated
future transactions) will yield a return that will
compensate the lessor for not less than the lessor's
full investment in the property plus the estimated
total cost of financing the property over the term of
the lease, from rentals, estimated tax benefits (investment tax credit, net economic gain from tax deferral
frcm accelerated depreciation, and other tax benefits
with substantially similar effect), and the estimated
residual value of the property at the expiration of
the initial term of the lease which in no case shall
exceed 20 per cent of the acquisition cost of the
property to lessor) at 5624 Executive Center Drive,
Charlotte, North Carolina, through its subsidiaries,
Wells Fargo Leasing Corporation, Vfells Fargo Transport
Leasing Corporation, Wells Fargo Equipment Leasing
Corporation, and Wells Fargo Equipment Credit Corporation (5/7/79) 3/
*
* * * *
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
Minneapolis
Hansen-Lawrence Agency, Inc., Warden, Montana, prior
certification pursuant to section 1101(c) of the
Internal Revenue Code, that it has (before the
expiration of: the period prohibited property is
permitted tc be held by a bank holding company under
the Bank Holding Company Act (12 U.S.C. §1841, et
seq.) ("BBC Act")) disposed of all the property the
disposition of which is necessary or appropriate to
effectuate section 4 of the BHC Act. Legal Division
Docket No. TCR 76-166. V
37 4(c) (8) or 4(c)(12) notification processed by Reserve Bank on behalf
~
of the Board of Governors under delegated authority.
*/ Processed on behalf of the Board of Governors, acting through its
General Counsel pursuant to delegated authority.
11
H.2, 1979 No. 19
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Cleveland
The Provident Bank, Cincinnati, Ohio. Branch to be
established at 1061 Reading Road, Mason, Warren
County. 2/
Chicago
Farmers and Merchants State Bank of Sebewaing, Michigan.
Branch to be established in the vicinity of 8800
Unionville Road, Sebewaing Tcwnship, Huron County.
1/
Richmond
Bank of Virginia, Richmond, Virginia. Branch to be
established at the intersection of Holland and
Roserrrait Roads, Virginia Beach. 2/
Atlanta
The Metropolitan Bank and Trust Company, Tampa, Florida.
Branch to be established at the southwest corner of
North Dale, Mabry Highway and Ehrlich Road, Hillsborough
County. 2/
Chicago
Bay City Bank & Trust Company, Bay City, Michigan.
Branch to be established in the vicinity of State
Street and Twin Oaks Drive, Saginaw Township, Saginaw
County. 2/
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Atlanta
Farmbanc Company, Nashville, Tennessee, for approval
to acquire 80 per cent of the voting shares of Farmers
Bank and Trust Company, Winchester, Tennessee. 2/
Minneapolis
Murdock Bancor, Inc., Murdock, Minnesota, for approval
to acquire 95 per cent of the voting shares of First
State Bank of Murdock, Murdock, Minnesota. 2/
Kansas City
Paonia Financial Services, Inc., Pacnia, Colorado, for
approval to acquire 80 per cent or more (less directors1
qualifying shares) of the voting shares of Paonia
State Bank, Paonia, Colorado.
2/ Application subject to Community Reinvestment Act. The Community
Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
H.2, 1979 No. 19
- 1 2 -
APPLICATIONS RECEIVED-Continued
Dallas
Security Bancorp, Inc., San Antonio, Texas, for approval
to acquire 90 per cent or more of the voting shares of
Security National Bank, San Antonio, Texas. 2/
Dallas
Wharton Capital Corporation, Houston, Texas, for approval
to acquire 80-100 per cent of the voting shares (less
directors' qualifying shares) of Security Bank and
Trust Company, Wharton, Texas. 2/
*
*
*
* *
To Expand a Bank Holding Company Pursuant to Section
3(a) (3) of the Bank Holding Company Act of 1956
Chicago
Central Wisconsin Bankshares, Inc., Wausau, Wisconsin,
for approval to acquire 98.6 per cent or more of the
voting shares of Northern Security National Bank of
Hhinelander, Pelican, Wisconsin, a proposed new bank.
2/
Chicago
Michigan National Corporation, Bloomfield Hills, Michigan,
far approval to acquire 100 per cent of the voting
shares of Litchfield State Savings Bank, Litchfield,
Michigan. 2/
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
New York
Chemical New York Corporation, New York, New York, notification of intent to relocate de novo activities
(making direct loans, purchasing Installment sales
finance contracts, and acting as agent or broker for
the sale of credit related insurance) frcm 124 North
Park Avenue, Warren, Ohio to 4076 Youngstown Road,
S.E., Warren, Ohio, through its subsidiary, Sunamerica
Financial Corporation (5/8/79) 3/
Cleveland
Pittsburgh National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(to engage in mortgage banking activities, including
the making or acquiring and servicing, for its cwn
account or for the account of others, loans and other
27 Application subject to Community Reinvestment Act. The Community
~~ Reinvestment Officer of the applicable Reserve Bank may be contacted
as to the length of the comment period.
3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
~~ of the Board of Governors under delegated authority.
i
H.2, 1979 No. 19
— 13 —
APPLICATIONS RECEIVEDH3ontinued
extensions of credit) in the Metropolitan area of
Beck ley, West Virginia, through its subsidiary, The
Kissell Company (5/8/79) 3/
Richmond
Maryland National Corporation, Baltimore, Maryland, notification of intent to engage in de novo activities
(leasing personal property (including, but not limited
to, the leasing of various types of equipment, machinery, vehicles, transportation equipment, and data
processing equipment, and including conditional sales
contracts and chattel mortgages) where the lease is
the functional equivalent of an extension of credit;
originating personal property leases as principal or
agent; buying, selling, and otherwise dealing in personal property lease contracts as principal or agent;
acting as adviser in personal property leasing transactions; and engaging in the sale, as agent or broker,
of insurance similar in form and intent to credit life
and/or mortgage redemption insurance) at 300 E. Joppa
Road, Tcfwson, Maryland and 10 Light Street, Baltimore,
Maryland, through a subsidiary, Maryland National
Leasecorp (5/8/79) 3/
Atlanta
Century Banks, Inc., Fort Lauderdale, Florida, notification of intent to engage in de novo activities (to
engage in data processing services) at 2031 Hendricks
Avenue, Jacksonville, Florida, through a subsidiary,
Financial Computer Center, Inc. (5/10/79) 3/
Atlanta
First Railroad & Banking Company of Georgia, Augusta,
Georgia, for approval to acquire through its whollyowned subsidiary, CMC Group, Inc., Charlotte, North
Carolina, of certain assets and receivables of Blount
Financial Services, Inc., Maryville, Tennessee.
San
Francisco
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities
(making or acquiring, for its cwn account or for the
account of others, loans and other extensions of
credit such as would be made or acquired by a mortgage
company; leasing real property or acting as agent,
broker or adviser in the leasing of real property in
accordance with the provisions of Section 225.4(a) (6) (b)
of Regulation Y; acting as investment or financial
adviser to the extent of providing portfolio invest-
3/ 4 (c) (8) or 4 (c) (12) notification processed by Reserve Bank on behalf
~
of the Board of Governors under delegated authority.
— 14 —
H.2, 1979 No. 19
APPLICATIONS KECEIVED-Continued
ment advice to others with emphasis on real property
investments and real property interest? servicing
loans and other extensions of credit for itself and
others) at 1158 East Missouri Avenue, Phoenix, Arizona,
through its subsidiary, BA Mortgage and International
Realty Corporation (5/2/79) 3/
San
Francisco
Patagonia Corporation, Tucson, Arizona, notification of
intent to engage in de novo activities (originating
residential mortgages for sale to permanent investors
as authorizedfay12 C.F.R. Section 225.4 (a) (1)) at
3900 East Camelback Road, Phoenix, Arizona, through
its subsidiary, Western American Mortgage Company
(5/3/79) 3/
*
*
*
*
*
REPORTS RcxJEiVED
Current Report Filed Pursuant to Section 13
of the Securities Exchange Act
The City Bank Company, Lorain, Ohio.
* * * * *
PETITIONS FOR RULEMAKING
None.
37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
@FedFRASER