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orat\B^"

ANNOUNCEMENT
BOARD OF GOVERNORS
OF THE

FEDERAL RESERVE SYSTEM

W
cf

^ H . 2 , 1990, No. 19
rAotions,#£ the Board, its Staff, and
Federal Reserve Banks;
fV^4 ^ ^ c ations ^
l
Reports Received
^ During the Week Ending May 12, 1990

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

TESTIMONY AND STATEMENTS
Securities markets, issues involving their regulation
— statement by Chairman Greenspan before the
Senate Committee on Agriculture, Nutrition, and
Forestry, May 8, 1990.
Published, May 8, 1990.
BANK HOLDING COMPANIES
First Formoso, Inc., Formoso, Kansas — to acquire
Mankato Bankshares, Inc., Mankato, Kansas, and The
First National Bank in Mankato.
Approved, May 9, 1990.
Mitsui Taiyo Kobe Bank, Limited, Tokyo, Japan — to
acquire up to 10 percent each of Security Pacific
Financial Services System, Inc., San Diego,
California, and SPFSS, Inc.
Approved, May 7, 1990.
SunTrust Banks, Inc., Atlanta, Georgia — to acquire
additional shares of Peoples Bank of Lakeland,
Lakeland, Florida.
Approved, May 7, 1990.
Toronto - Dominion Bank, Toronto, Ontario, Canada —
to underwrite and deal in certain securities to a
limited extent, to act as agent for the private
placement of all types of securities, and engage in
other securities related activities.
Approved, May 9, 1990.
BOARD OPERATIONS
Division of International Finance — appointment of
Dale W. Henderson as Assistant Director and Chief
of the Trade and Financial Studies Section.
Approved, May 7, 1990.
CHANGE IN




ANK CONTROL
First and Ocean Bancorp, Newburyport, Massachusetts
— request for review of decision by the Federal
Reserve Bank of Boston not to disapprove the Change
in Bank Control notice filed by Institution for
Savings in Newburyport and its Vicinity.
Denied, May 9, 1990.

H.2
MAY 7, 1990
PAGE 2

TO

MAY 11, 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




Hew York

Adirondack Trust Company, Saratoga Springs, New York
— to establish a branch at 112 Broadway.
Approved, May 9, 1990.

Richmond

Central Fidelity Bank, Richmond, Virginia — to
establish a branch at the intersection of
Centreville Road and Fox Mill Road, Herndon,
Virginia.
Approved, May 9, 1990.

Richmond

Central Fidelity Bank, Richmond, Virginia — to
establish a branch at 5852 Mapledale Plaza,
Woodbridge, Virginia.
Approved, May 9, 1990.

H .2
MAY 7, 1990
PAGE 3

TO

MAY 11, 1990

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

BANK BRANCHES, DOMESTIC
Secretary

Meridian Bank, Reading, Pennsylvania — to establish
branches at Kings Supermarket Shopping Center, Oley
Township; and 1024 Kimberton Road, East Pikeland;
and a remote service facility at the Acme Market
Northtowne Shopping Center, Norristown,
Pennsylvania.
Approved, May 11, 1990.

Richmond

Peoples Bank of Virginia, Chesterfield, Virginia —
to establish a branch at 11450 Midlothian Turnpike.
Approved, May 10, 1990.

New York

United Jersey Bank, Hackensack, New Jersey — to
establish a branch at 378 Passaic Avenue, Fairfield
Township, New Jersey.
Approved, May 7, 1990.

BANK HOLDING COMPANIES




San Francisco

ANB Financial Corporation, Kennewick, Washington —
to acquire American National Bank, Kennewick,
Washington.
Approved, May 7, 1990.

New York

Banque Indosuez, Paris, France, and Compagnie
Financiere de Suez — to engage de novo in serving
as the investment adviser and manager of a
closed-end investment company through Indosuez
International Investment Services.
Permitted, May 10, 1990.

New York

Barclays Bank PLC, London, England, Barclays PLC;
Barclays USA Inc., New York, New York, and Barclays
U.S. Holdings, Inc., and Barclays-AmericanCorporation, Charlotte, North Carolina — to
acquire certain assets of First Charter Mortgage
Company, Concord, North Carolina, and engage in
servicing loans and other extensions of credit made
by a mortgage company.
Approved, May 7, 1990.

Minneapolis

Barrett Bancorporation, Inc., Barrett, Minnesota -to acquire Citizens State Bank of Barrett.
Approved, May 11, 1990.

H .2
MAY 7, 1990
PAGE 4

TO

MAY 11, 1990

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

BANK HOLDING COMPANIES




New York

Creditbanstalt - Bankverein, Vienna, Austria — to
engage in investment and financial advisory
services through HKW Asset Management, Inc., New
York, New York.
Approved, May 7, 1990.

Atlanta

CSRA Bank Corp., Wrens, Georgia —
State Bank.
Approved, May 9, 1990.

Atlanta

Eagle Bancorp, Inc., Statesboro, Georgia —
acquire Eagle Bank and Trust.
Approved, May 11, 1990.

S t . Louis

Financial Bancshares, Inc., St., Louis, Missouri —
to acquire FirstBank of East Prairie, East Prairie,
Missouri.
Approved, May 8, 1990.

Chicago

First Illinois Corporation, Evanston, Illinois —
acquire Valley Financial Services, Inc., South
Elgin, Illinois, and The Valley Bank and Trust
Company.
Approved, May 8, 1990.

St. Louis

Magna Group, Inc., Belleville, Illinois — to engage
in the operation of a savings association through
Magna Centralia Interim Federal Savings and Loan
Association, Centralia, Illinois.
Permitted, May 9, 1990.

Staff Director
BS&r

to acquire First

to

to

Magna Group, Inc., Belleville, Illinois
proposal
that Magna Bank of Centralia, Centralia, Illinois,
purchase the assets and assume the liabilities of
Magna Centralia Interim Federal Savings and Loan
Association.
Approved, May 9, 1990.

Chicago

Mid Town Bancorp, Inc., Chicago, Illinois
to
engage de novo in lending activities through Mid
Town Mortgage Corp.
Permitted, May 9, 1990.

Kansas City

MidAmerican Corporation, Prairie Village, Kansas
to acquire The Kansas Trust Company, and engage in
trust company and data processing services.
Approved, May 8, 1990.

H.2
MAY 7, 1990
PAGE 5

TO

MAY 11, 1990

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

BANK HOLDING COMPANIES




New York

National Bank of Canada, Montreal, Canada — to
acquire certain commercial loans of Bank of New
England, N.A., Boston, Massachusetts, and certain
assets and liabilities of New England Commercial
Finance Corporation, and engage in making,
acquiring, and servicing commercial finance loans.
Approved, May 9, 1990.

Dallas

Olney Bancshares, Inc., Olney, Texas — to acquire
Farmers National Bank of Seymour, Seymour, Texas.
Approved, May 10, 1990.

Cleveland

Provident Bank, Cincinnati, Ohio — to establish
customer-bank communication terminals at Hi-Rise
Deli, Inc., 2824 Jefferson Avenue, Thriftway Food &
Drug, 5060 Glencrossings Way, and Thriftway Food &
Drug, Colerain Avenue and 1-275.
Approved, May 10, 1990.

Chicago

R i v e r F o r e s t Banc o r p, Inc., C h i c a g o , I l l i n o i s —
to
a c q u i r e M a d i s o n F i n a n c i a l C o r p o r a t i o n , M a d i s o n Bank
a n d T r u s t Comp a n y, M a d i s o n N a t i o n a l Bank, Niles;
a n d F i rs t N a t i o n a l B a n k of W h e e l i n g , W h e e l i ng ,
Illinois.

Approved, May 11, iv^u.
New York

Saban S.A., Panama City, Republic of Panama — to
acquire Republic New York Corporation, New York,
New York.
Approved, May 7, 1990.

Richmond

Summit Financial Corporation, Greenville, South
Carolina — to acquire Summit National Bank,
Greenville, South Carolina.
Approved, May 9, 1990.

Kansas City

United Nebraska Bank, North Platte, Nebraska — to
assume the deposits of North Platte Trust Company.
Approved, May 7, 1990.

Atlanta

Wayne Bancorp, Inc., Jesup, Georgia —
Wayne National Bank.
Approved, May 11, 1990.

to acquire

H.2
MAY 7, 1990
PAGE 6

TO

MAY 11, 1990

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

BANK MERGERS
Chicago

First of America Bank - Northern Michigan, Traverse
City, Michigan — to merge with First of America
Bank - Alpena, Alpena, Michigan, and to establish
branches at certain locations.
Approved, May 10, 1990.

BANK PREMISES
Chicago

First of America Bank - Ann Arbor, Ann Arbor,
Michigan — investment in bank premises.
Returned, May 9, 1990.

Secretary

Meridian Bank, Reading, Pennsylvania —
bank premises.
Approved, May 11, 1990.

Atlanta

Sun Bank of Ocala, Ocala* Florida —
bank premises.
Approved, May 11, 1990.

investment in

investment in

BANKS, STATE MEMBER
Minneapolis

Culbertson State Bank, Culbertson, Montana —
of a dividend.
Approved, May 11, 1990.

payment

CHANGE IN BANK CONTROL




Atlanta

BOJ Bancshares, Inc., Jackson, Louisiana —
bank control.
Permitted, May 11, 1990.

change in

Atlanta

LaPlace Bancshares, Inc., LaPlace, Louisiana —
change in bank control.
Permitted, May 11, 1990.

Dallas

Raymondville State Bancshares, Inc., Raymondville,
Texas — change in bank control.
Returned, May 9, 1990.

—

H.2
MAY 7, 1990
PAGE 7

TO

MAY 11, 1990

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

COMPETITIVE FACTORS REPORTS




Dallas

American State Bank of Snyder, Snyder, Texas,
proposed merger with American State Bank — report
on competitive factors.
Submitted, May 9, 1990.

Kansas City

Army National Bank, Fort Leavenworth, Kansas —
proposed acquisition of the assets and assumption
of the liabilities of Fort Knox National Bank, Fort
Knox, Kentucky — report on competitive factors.
Submitted, May 11, 1990.

Minneapolis

Bank Menomonie, Menomonie, Wisconsin, proposed merger
with First National Bank, Chippewa Falls, Wisconsin
— report on competitive factors.
Submitted, May 7, 1990.

Dallas

Ellis County State Bank, Milford, Texas, proposed
merger with Itasca State Bank, Itasca, Texas —
report on competitive factors.
Submitted, May 10, 1990.

Chicago

Farmers State Bank, Schleswig, Iowa, proposed
acquisition of assets and assumption of the
liabilities of Farmers Savings Bank, Ricketts, Iowa
— report on competitive factors.
Submitted, May 10, 1990.

Richmond

Harbor Bank of Maryland, Baltimore, Maryland,
proposed purchase of certain assets and assumption
of certain deposit liabilities of the Govans Branch
of the Irvington Federal Savings and Loan
Association, Glen Burnie, Maryland — report on
competitive factors.
Submitted, May 8, 1990.

Boston

Martha1s Vineyard Interim National Bank, Tisbury,
Massachusetts, proposed consolidation with Martha1s
Vineyard National Bank — report on competitive
factors.
Submitted, May 7, 1990.

Secretary

Mountain West Savings Bank, F.S.B., Couer d TAlene,
Idaho, proposed merger with Security Pacific
Interim Savings Bank Idaho, F.S.B. — report on
competitive factors.
Submitted, May 11, 1990.

H.2
MAY 7, 1990
PAGE 8

TO

MAY 11, 1990

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

COMPETITIVE FACTORS REPORTS
New York

United Northern Federal Savings Bank* Watertown, New
York, proposed merger with Interim Federal Savings
Bank — report on competitive factors.
Submitted, May 8, 1990.

EXTENSIONS OF TIME




St. Louis

Bainum Bancorp II, Murfreesboro, Arkansas —
extension to May 31, 1990, to acquire Pike County
Bank.
Granted, May 10, 1990.

Philadelphia

Commerce Bancorp, Inc., Cherry Hill, New Jersey —
three-month extension to acquire Commerce Bank /
Harrisburg, Camp Hill, Pennsylvania.
Granted, May 11, 1990.

San Francisco

First Interstate Bancorp, Los Angeles, California
extension to divest certain property.
Granted, May 7, 1990.

San Francisco

First Interstate Bancorp, Los Angeles, California
extensions to divest certain properties.
Granted, May 9, 1990.

S t . Louis

First Paragould Bankshares, Inc., Paragould, Arkansas
— extension to July 28, 1990, to engage de novo in
data processing.
Granted, May 8, 1990.

Dallas

Ford Bank Group, Inc., Lubbock, Texas — extension to
August 9, 1990, to acquire First Canyon
Bancorporation, Inc., Canyon; First Canyon
Bancshares, Inc.; and First National Bank in
Canyon; First Borger Bancshares, Inc., Borger; and
First National Bank of Borger; Permian Financial
Corporation, Crane, Texas; and First State Bank.
Granted, May 11, 1990.

Dallas

New Borger Bancorporation, Inc., Lubbock, Texas —
extension to August 9, 1990, to acquire First
Borger Bancshares, Inc., Borger, Texas, and First
National Bank of Borger.
Granted, May 11, 1990.

H.2
MAY 7, 1990
PAGE 9

TO

MAY 11, 1990

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

EXTENSIONS OF TIME
Dallas

New Canyon Bancorporation, Inc., Lubbock, Texas —
extension to August 9, 1990, to acquire First
Canyon Bancorporation, Inc., Canyon; First Canyon
Bancshares, Inc.; and First National Bank in
Canyon.
Granted, May 11, 1990.

Chicago

North Bancorp, Inc., Gaylord, Michigan — extension
to August 11, 1990, to acquire First National Bank
of Gaylord.
Granted, May 7, 1990.

San Francisco

Security Pacific Corporation, Los Angeles, California
— extension to divest certain property.
Granted, May 7, 1990.

Chicago

Star Financial Group, Inc., Marion, Indiana —
extension to June 16, 1990, to engage in credit
card activities through Star BankCard Services,
Inc.
Granted, May 10, 1990.

INTERNATIONAL OPERATIONS
Staff Director
BS&R

Chase Manhattan Bank, N.A., New York, New York — to
make an additional investment in Libra Bank PLC,
London, England.
Permitted, May 11, 1990.

Dallas

Victoria Bank & Trust Company, Victoria, Texas — six
months7 notice of withdrawal from membership in the
Federal Reserve System.
Waived, May 10, 1990.

MEMBERSHIP




H.2
MAY 7, 1990
PAGE 10

TO

MAY 11, 1990

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

REGULATIONS AND POLICIES
Director, C&CA

Regulation B — preemption determination of the
consistency of the treatment of applicants under
the provisions of the Ohio Revised Code in credit
transactions on the basis of age (Docket R-0692).
Proposed, May 10, 1990.

RESERVE BANK OPERATIONS
GC

Federal Reserve Bank of New York — to act as fiscal
agent for a proposed issue of bonds by the Inter American Development Bank.
Approved, May 11, 1990.

RESERVE BANK SERVICES




Director, FRBO

Federal Reserve Bank of Kansas City — to implement
High Dollar Group Sort program in the Omaha office
Approved, May 7, 1990.

H.2
MAY 7, 1990
PAGE 11

ADDITIONS AND CORRECTIONS
TO

MAY 11, 1990

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

SANK PREMISES




Chicago

Davenport Bank and Trust Company* Davenport* Iowa —
investment in bank premises.
Approved* May 4, 1990.

FEDERAL RESERVE BANK OF BOSTON APPLICATIONS

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
Application

Comment Period Ending nat*>
NONE

SECTION III - APPLICATIONS SUBJECT TO
FEDERAL REGISTER NOTICE ONIY
Application

Comment Period Ending Date

Hie Royal Bank of Scotland Federal Register
Group pic, Edinburgh,
United Kingdom - 4 (c) (8)
application for prior
approval to engage
indirectly through its
wholly owned subsidiaries
Charterhouse Inc., Charterhouse North American
Securities, Inc., and
Charterhouse Properties,
Inc., in certain nonbanking
activities, to acquire
a partnership interest
in a de novo general
partnership, Continental
Partners, and to engage
indirectly through
Continental Partners in
certain nonbanking
actitivies

Not Yet Established

First Regional Bancorp,
Federal Register
Inc.,Hartford, Connecticut
- 4 (c)(8) application to
engage in the private
placement of debt and equity
securities and to provide
merger and acquisition
advice and services through
First Regional Investcorp,
Inc., Hartford, Connecticut

Not Yet Established







-2-

SECTION IV - APPLICATIONS NOT SUBJECT TO
FEDERAL REGISTER OR NEWSPAPER NOTICE
AmLication
NONE
♦Subject to CRA

Federal Reserve Bank of New York
Comment Period
Ending Date
SECTION I
Applications Subject to Newspaper
___________ Notice Only_________
United Jersey Bank, Hackensack, New Jersey to
establish a branch at Suite 202, 1415 Route 70 East,
Cherry Hill, New Jersey. 1/

6/6/90

Northern Jersey State Bank, Roxbury Township,
New Jersey, a proposed new bank, for membership
in the Federal Reserve System. 1/

6/8/90 3/

SECTION II
Applications Subject to Both
Newspaper and Federal Register Notice
Northern Jersey Financial Corp., Roxbury Township,
New Jersey, to become a bank holding company with
respect to Northern Jersey State Bank, Roxbury
Township, New Jersey, a proposed new bank.l/

6/8/90 3/

Vista Bancorp Inc., Fhillipsburg, New Jersey to
acquire Twin Rivers Community Bank, Easton,
Pennsylvania, a de novo bank.l/

6/4/90 3/

SECTION III
Nonbanking Applications
(Subject to Federal Register Notice Only)
None.
SECTION IV
Applications Not Involving
______ Public Comment______
None.

1/
2/
3/

4/




Subject to provisions of Community Reinvestment Act.
Later of dates specified in newspaper and Federal Register notices.
Date specified in newspaper notice; a later date may be specified in
the Federal Register notice.
N/A - Not Available
Date specified in Federal Register notice; a later date may be
specified in the newspaper notice.

FED ERA L R E SE R V E BANK OF PH ILA D ELPH IA

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY
Comment Period Ending Date
Twin Rivers Community Bank (in organization)
Easton, PA to become a member of the Federal
Reserve System, pursuant to Section 9 of the
Federal Reserve Act and Section 208.4 of
Regulation H.

1/

6/4/90

SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND
FEDERAL REGISTER NOTICE
Comment Period Ending Date
Phoenix Bancorp, Inc.. Minersville, PA request
permission for Vincent J. Land to aquire up to
13.73% of capital stock of Phoenix Bancorp, Inc.
pursuant to the Change in Bank Control Act.
N/A*
N/A*

Newspaper:
Federal Register:
Newfield Bancorp. Inc.. Newfield, New Jersey to 1/
become a bank holding company by acquiring 100%
of First National Bank in Newfield, Newfield,
New Jersey, pursuant to Section 3(a)(1) of the
Bank Holding Comapany Act.

5/26/90
5/31/90

Newspaper:
Federal Register:
Commonwealth Bancshares Corporation. Williamsport
PA seeks to acquire The First Bank of Greater
Pittston, Pittston, PA pursuant to Section 3(a)(3)
of the Bank Holding Company Act.

1/

Newspaper:
Federal Register:

6/4/90
N/A*

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
Comment Period Ending Date
None.

SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE
OR NEWSPAPER NOTICE
None.
1/ Subject to provisions of Community Reinvestment Act.
* N/A - not yet available.



Applications Bulletin
For W e e k E n ding M a y 12, 1990

S E C T I O N I - APPLI C A T I O N S S U BJECT T O N E W S P A P E R
N O TICE ONLY
APPLICATION

C O M M E N T P E R I O D EN D I N G

R e c e i v e d a p p l i c a t i o n on M a y 11, 1990 from
The F i f t h T h i r d Bank, Columbus, Ohio, to
e s t a b l i s h a b r a n c h at 7740 Sawmill Road,
Columbus, Ohi o .

* J u n e 8,

1990

R e c e i v e d a p p l i c a t i o n on M a y 11, 1990 from
The F i f t h T h i r d Bank, Columbus, Ohio, to
e s t a b l i s h a b r a n c h at Pinecrest Center,
C l e v e l a n d Avenue, Columbus, Ohio.

* J u n e 8, 1990

S E C T I O N II - A P PLICATIONS SU B J E C T TO BOTH
NEWSPAPER AND FEDERAL REGISTER NOTICE
R e c e i v e d N o t i c e of Change in Bank Control
on M a y 4, 1990 from Warburg, Pincus & Co.;
E.M. Warburg, Pincus & C o . ; Warburg, Pincus
Ventures, Inc.; Pincus Capital Partners, L.P.;
Lionel I. Pincus and J o h n L. Vo l g e l s t e i n
(collectively, the " A p p l i c a n t s ”) , N e w York,
N e w York, to a c q u i r e up to 17.2 p e r c e n t of
the v o t i n g shares of M e l l o n Bank Corporation,
Pittsburgh, Pennsylvania.

*
#
N
F

-

F - M a y 25,

1990

S u b j e c t to CRA
E x p e c t e d to end app r o x i m a t e l y 30 days from the date of receipt
N e w s p a p e r Comment Period
F e deral R e g i s t e r C omment Period




Applications Bulletin
For W e e k E n d i n g M a y 12, 1990

S E C T I O N III - A P P L I C A T I O N S S U B J E C T TO F E D E R A L R E G I S T E R
N O TICE ONL Y
R e c e i v e d S e c t i o n 4(c)(8) N o t i f i c a t i o n on
M a y 11, 1990 from M i d Am, Inc., B o w l i n g
Green, Ohio, of its intent to est a b l i s h
M i d Am, Inc., C o m m u n i t y D e v e l o p m e n t
Corporation, p u r s u a n t to S e c t i o n 225.25(b)(6)
of R e g u l a t i o n Y.

Not Yet K n o w n #

S E C T I O N IV - A P P L I C A T I O N S N O T S U B J E C T TO F E D E R A L R E G I S T E R N O T I C E
OR N E W S P A P E R NO T I C E
R e c e i v e d re q u e s t on M a y 7, 1990 from Soci e t y
Bank and Trust, Toledo, Ohio, for p e r m i s s i o n
to e x c e e d its limit of investment in b a n k
p r e m i s e s p e r m i t t e d u n d e r S e ction 24A of the
Federal R e s e r v e Act.

*
#
N
F

-

S u b j e c t to CR A
E x p e c t e d to end a p p r o x i m a t e l y 30 days from the date of r e c e i p t
N e w s p a p e r Co m m e n t Period
Federal R e g i s t e r Co m m e n t Period




Federal Reserve Bank of Richmond

Section I - Applications Subject to Newspaper
Notice Only
Application

Comment Period Ending Date

Northern Neck State Bank, Warsaw, Virginia,
to acquire the Tappahannock Branch of
Perpetual Savings Bank, F.S.B., Alexandria,
Virginia.*

Not yet available.

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

Comment Period Ending Date

United Bankshares, Inc., Charleston, West
Virginia, to acquire BankFirst Corp., McLean,
Virginia.**

5-29-90

Marathon Financial Corporation, Stephens City,
Virginia, to become a bank holding company
through the acquisition of The Marathon Bank,
Stephens City, Virginia.*

Not yet available.

The Bank of Southside Virginia Corporation,
Carson, Virginia, to acquire 19.2% of The
Bank of McKenney, McKenney, Virginia.*

Not yet available.

Section III - Applications Subject to Federal Register Notice
Application

Comment Period Ending Date

MNC Financial, Inc., Baltimore, Maryland,
to organize a nondeposit trust company in
Vienna, Virginia.**

Not yet available.

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

*Application is subject to CRA.
**Expiration of comment period specified in the Federal Register.




Federal R e se rv e Bank of Atlanta
A p p l i c a t i o n s B u l l e t i n for Meek Ending May 4 . 1990
Section

I - A p p l i c a t i o n s Subject

to N e w s p a p e r

N o t i c e Only

Application
Central Bank of the South
Birmingham, Alabama
To e s t a b l i s h a bran ch o f fi ce at 28000 U.S.
be known as the D a p h n e Branch.

0 5 - 0 8 - 9 0 (CRA)
Newspaper
Hi gh wa y 98, D a ph ne , Alabama,

to

S e c t i o n II - A p pl ic at io ns Subject To Both
N e w s p a p e r and Federal Register N o t i c e
Application

Comment

V a l l e y B a n c s h a r e s , Inc.
Russellville, Alabama
1-BHC fo rm a t i o n , V a l l e y State Bank,

Russellville,

Period

E n d i n g Date

Alabama.

The P e o p l e s Ho l d i n g C o m p a n y
Fort W a l t o n Beach, Florida
1-BHC fo r m a t i o n . P e o p l e s Federal Savings Bank, Fort W a l t o n Beach, Florida,
and c o nv er t it to a co m m e r c i a l bank to be known as C o m m u n i t y & Peoples
State Bank, Fort W a l t o n Beach, Florida.

A m e r i c a n Ci ty Ba ncorp, Inc.
Tullahoma, Tennessee
A f t e r - t h e - f a c t ch a n g e in control by Sam Sawyer to re t a i n 4.65 percent of
the o u t s t a n d i n g sh ar es of comm on stock that in cr e a s e d his o w n e r s h i p from
9.80 pe rc e n t to 14.45 percent.
Mr. Sawyer's i n cr ea se in o w n e r s h i p is the
result of a st ock r e de mp ti on .

Section

III

- Applications

Subject

to Federal

Register

Noti ce Only

Application
Forest

Bancorp

05-25-90

Forest, Mississippi
To e n g a g e de no vo in p r o v i d i n g management c o n s u l t i n g a d v i c e to n o na ff il ia te d
banks and n o n b a n k d e p o s i t o r y institutions through B a n k e r s S e r v i c e s Corporation,
Forest, M i s s i s s i p p i , p u r s u a n t to section 2 2 5 . 2 5 ( b ) ( 1 1 ) of R e g u l a t i o n Y.




Federal Reserve Bank of Chicago

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

?YIe
?

Application

EFT

Comerica Bank - Detroit
Detroit, Michigan
General Motors, Hydromatic Warren Plant
23500 Mound Road
Warren, Michigan*

N

- 4-16-90

EFT

Comerica Bank - Detroit
Detroit, Michigan
The Madden Building
150 W. Jefferson
Detroit, Michigan*

N

- 4-16-90

Merger/
Branch

Bank of Commerce
Hamtramck, Michigan
State Bank of Fraser
Fraser, Michigan
32981 Utica Road
Fraser, Michigan*

N

- 4-28-90

Branch

Bank of Commerce
Hamtramck, Michigan
32001 Grossback Highway
Fraser, Michigan*

N

- 4-28-90

Merger/
Branch

Citizens Trust and Savings Bank
South Haven, Michigan
Fidelity Federal Savings and
Loan Association
Kalamazoo, Michigan
128 Locust Street
Allegan, Michigan
212 S Kalamazoo St.
.
Paw Paw, Michigan*

N

- 5-21-90

Branch

Affiliated Bank/Chicago
Chicago, Illinois
754-758 W. North Avenue
Chicago, Illinois*

N

- **

Branch

Affiliated Bank/Chicago
Chicago, Illinois
Relocation from 754-758 W. North Avenue
to 1457 Diversey Parkway
Chicago, Illinois*

N

- **




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

Type

Application

Y-2

Valley Bancorporation
Appleton, Wisconsin
Valley Bank (in organization)
Milwaukee, Wisconsin*

FR - 4-3-90
N - 5-13-90

Y-2

Montfort Bancorporation, Inc.
Platteville, Wisconsin
The Bloomington State Bank
Bloomington, Wisconsin*

FR - 4-11-90
N - 5-19-90

Y-2

Montfort Bancorporation, Inc •
Platteville, Wisconsin
Clare Bancorporation, Inc.
Platteville, Wisconsin
Farmers and Merchants Bank
Shullsburg, Wisconsin
The First National Bank of Boscobel
Boscobel, Wisconsin
State National Bank of Platteville
Platteville, Wisconsin*

FR - 4-11-90
N - 5-19-90

CoC-HC

American State Corporation
Lawrenceburg, Indiana
Clark H. Byrum, The Key Corp. &
Key Life Insurance Company

FR - 5-17-90
N - **

Y-2

Capitol Bancorp, Ltd.
Lansing, Michigan
Ann Arbor Commerce Bank (in organization)
Ann Arbor, Michigan*

FR - 5-29-90
N

- **

Y-l

John Warner Financial Corporation
Clinton, Illinois
The John Warner Bank
Clinton, Illinois*

FR - 5-29-90
N - 5-28-90

Y-l

Northwest Bancorp, Inc.
Hoffman Estates, Illinois
First National Hoffman Bancorp, Inc.
Hoffman Estates, Illinois
First National Bank of Hoffman Estates
Hoffman Estates, Illinois
First Midwest Financial Corporation
Hoffman Estates, Illinois
Charter Bank and Trust of Illinois
Hanover Park, Illinois*

FR - 5-29-90
N - 5-23-90




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

Type

Application

CoC-HC

Arthur Bancshares Corp.
Arthur, Illinois
D. Jurgens; J. Winningham & J. Jurgens,
as Trustee of Ervin L. Jurgens

FR - 5-22-90
N - 5-20-90

Y-l

Financial Center Corporation
Holland, Michigan
Paragon Bank (in organization)
Holland, Michigan*

FR - 5-29-90
N - **

Y-2

First Midwest Corporation of Delaware
Elmwood Park, Illinois
Midwest Bank and Trust Company
of DuPage County (in organization)
Hinsdale, Illinois*

FR - **
N - **

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

Type

Application

Y-4

First of America Bank Corporation
Kalamazoo, Michigan
Pension and Group Services, Inc.
Kalamazoo, Michigan

FR - **

4(c)(8)

Banill Corporation
Normal, Illinois
Making and servicing loans and lease
of personal property

FR - **

Y-4

First Chicago Corporation
Chicago, Illinois
Lincoln-Way Federal Savings Bank
New Lenox, Illinois

FR - **




Federal Reserve Bank of Chicago

Section IV - Applications Not Subject to Federal Register Notice
Or Newspaper Notice
Type

Application

RoS

Meadowview Bancorp, Inc.
Kankakee, Illinois
Redeem up to 3,141 (6.2%) shares of common stock

RoS

Bancorp of Rantoul, Inc.
Rantoul, Illinois
Redeem up to 7,000 shares (14.37%) of its common stock

N
FR
*
**

—
_




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

May 11, 1990

Federal Reserve Bank of St. Louis

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
Application

Comment Period Ending Date

Section 4(c)(8) application by
Arvest Bank Group, Inc., Bentonville,
Arkansas, to engage de novo in
providing trust services and investment
advise through Arvest Trust Company,
National Association, Rodgers,
Arkasas




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

Application

Comment Period
Ending Date

Twin Co., Inc.
Twin Bridges, MT
To acquire Bank of Sheridan
Sheridan, MT*

5-21-90
(Newspaper)

Kenneth Kohler, Robert T. Olson,
and Curtis Richman
To each increase their ownership
from 20% to 25% of First Hawley
Bancshares, Inc., Hawley, MN

June 4, 1990
(Federal Register)

UNC Holding, Inc.
Sioux Falls, SD
To acquire United National Corpora­
tion, Sioux Falls, SD*

Not yet available

Norwest Holding Company
Minneapolis, MN
To acquire Norwest National Bank
Minneapolis, MN*

Not yet available

Gaylord Bancorporation, Ltd.
Gaylord, MN
To acquire Nicollet State Bank
Nicollet, MN*

Not yet available

* Subject to CRA




FEDERAL RESERVE BANK OF MINNEAPOLIS

Section III - Applications Subject
to Federal Register Notice Only

Application

Comment Period
Ending Date

Dakota Bankshares, Inc.
Fargo, ND
To acquire Pacific Southwest
Financ ial Service, Inc.
Phoenix, AZ

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in operating a thrift thru
the acquisition of Yankton Savings
and Loan Association, Yankton, SD

5-29-90
(Federal Register)

Winter-Park Bancshares, Inc.
Exeland, WI
To engage de novo in acquiring and ser­
vicing certain loans. The activity will
be conducted in Exeland, WI

Not yet available

Voyageur Development Corporation
Exeland, WI
To engage de novo in acquiring and ser­
vicing certain loans. The activity will
be conducted in Exeland, WI

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in brokerage services
including the sales of variable
annuities through the acquisition
of Warranty Financial Corporation,
Burnsville, MN

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in mortgage banking
activities through the acquisition
of Preferred Mortgage Corporation,
St. Paul, MN

Not yet available




FEDERAL RESERVE BANK OF MINNEAPOLIS
Section III - Applications Subject
to Federal Register Notice Only (Continued)

Aonlication

Comment Period
Endine Date

Norwest Corporation
Minneapolis, MN
To engage in general insurance
agency activities through the
acquisition of Regency Insurance
Agency, Inc., North St. Paul, MN

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in title insurance agency
activities through the acquisition
of Warranty Title, Inc., St. Paul, MN

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in real estate development
activities through the acquisition
of Minnesota FSL Corporation,
Minneapolis, MN

Not yet available

Norwest Corporation
Minneapolis, MN
To engage in operating a thrift
through the acquisition of First
Minnesota Savings Bank, F.S.B.,
Minneapolis, MN

Not yet available

Norwest Corporation
Minneapolis, MN
Norwest Financial Services, Inc.
Des Moines, IA
Norwest Financial, Inc.
Des Moines, IA
To engage in collection agency
activities through the acquisi­
tion of American Credit Asso­
ciates, Inc., Commerce, CA

Not yet available







FEDERAL RESERVE BANK OF MINNEAPOLIS

Section IV - Applications Not Subject to
Federal Reserve Notice or Newspaper Notice
Application
Montana Bank of Baker, N.A.
Baker, MT
To become a member of the
Federal Reserve System
Montana Bank of Circle, N.A.
Circle, MT
To become a member of the
Federal Reserve System

Federal Reserve Bank o f Kansas City

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION

COMMENT P E RIOD ENDI N G DATE

Mercantile Bank of Kansas City,
Kansas City, Missouri, for prior
approval to establish a branch at 503
N. Missouri, Route 7, Blue Springs,
Missouri.

Not Ava i l a b l e

Lionel C. Harris, Cushing, Oklahoma,
for approval to retain an 8 percent
ownership increase in Bank of Cushing
and Trust Co., Cushing, Oklahoma.

May 1, 1990

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

COMMENT PERIOD E N DING DATE

Wagner Marital Trust, Schuyler,
Nebraska, to acquire 66.67 percent of
Valley Bank Shares, Inc., Columbus,
Nebraska; and Wagner Grandchildren
Trust to acquire 33.33 percent.

Not A v a ilable

F.E. Hickman, D.D.S., F.E. Hickman,
D.D.S., Inc. Retirement, and F.E.
Hickman, D.D.S. Orthodontics, Inc.
Profit Sharing Plan, Midwest City,
Oklahoma, for prior approval to
increase their proportionate
ownership in Midwest National
Bancshares, Midwest City, Oklahoma,
by 10.01 percent to 33.58 percent.

N o t A v a ila b le

Craig J. Walker, Westcliffe,
Colorado, for prior approval to
acquire 72.23 percent of Custer
Bancorp, Westcliffe, Colorado.

Not Ava i l a b l e




Federal Reserve Bank o f Kansas City

E & A Associates, Denver, Colorado,
for prior approval to become a bank
holding company through the
acquisition of 99.5 percent of the
voting shares of The First National
Bank of Denver, Denver, Colorado.*

May 11,

Wilber Co., Wilber, Nebraska, for
prior approval to acquire 100 percent
of the voting shares of Hallam
Bancorp, Hallam, Nebraska, parent of
Hallam Bank, Hallam, Nebraska.*

May 11, 1990

T. Brent Ballinger, et. al, Pawhuska,
Oklahoma, for prior approval to
increase their ownership position in
N.B.C. Bancshares in Pawhuska, Inc.,
Pawhuska, Oklahoma, by 51.25 percent
to 72.40 percent.

May 1, 1990

Brewer Bancorp, Inc., Ryan, Oklahoma,
for prior approval to become a bank
holding company through the
acquisition of 100 percent of the
voting shares of First State Bank,
R y a n , O k l a h o m a .*

May 4, 1990

Martin S. Schifferdecker, Girard,
Kansas, for prior approval to
increase his proportionate ownership
in G.N. Bancshares, Inc., Girard,
Kansas, by .79 percent to 23.23
percent.

May 8, 1990

Norman L. Nelson, Norton, Kansas, for
prior approval to acquire a 41.85
percent ownership interest in Norton
Bankshares, Inc., Norton, Kansas; N.
Terry Nelson, Long Island, Kansas,
for prior approval to acquire a 41.85
percent o w n e rship interest in Norton
Bankshares, I n c . ; and Troy D. Nelson,
Lewis, Kansas, for prior approval to
acquire a 9.3 percent ownership
interest in Norton Bankshares, Inc.

May 1, 1990

Barrett Holding Company, Watonga,
Oklahoma, for prior approval to
become a bank holding company through
the a c q u isition of 25.69 percent of
the voting shares of Watonga
Bancshares, Inc., Watonga, Oklahoma,
parent of Watonga, State Bank, ,
Watonga, Oklahoma.*

May 11,




1990

1990

Federal Reserve Bank o f Kansas City

SECTION III - APPLICATIONS SUBJECT TO FEDERAL R E G I S T E R
NOTICE ONLY
APPLICATION

COMMENT PERIOD ENDI N G DATE

Norton Bankshares, Inc., Norton,
Kansas, for prior approval to acquire
the assets of Rouse Insurance Agency,
Norton, Kansas, and thereby engage in
selling credit life, disability, or
involuntary unemployment insurance
and insurance agency activities in a
town of less than 5,000 persons.

May 4, 1990

SECTION IV ~ APPLICATIONS NOT SUBJECT TO FEDERAL R E G I S T E R NOTICE
OR NEWSPAPER NOTICE
APPLICATION
Valley Bank Shares, Inc., Columbus,
Nebraska, for prior approval to
redeem 11,488 shares of its own
voting common stock.

*Application is subject to CRA.




Not Ava i l a b l e

FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN
APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF MAY 7, 1990

SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER
NOTICE ONLY
APPLICATION

NOTICE EXP

None.

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

** NOTICE EXP

Change in Control Notice by
James Robert Ratliff, Lubbock, TX, to acquire an
interest in Independent Financial, Inc., Lubbock, TX

90/05/31

Change in Control Notice by
Titus Holliday Harris, Jr.; Carter Eugene
Carlton, Jr.; Gale Oliver, III; John Henry Styles,
Houston, TX; and Norman Allan Myers, Austin, TX, to
acquire an interest in Med-Center Bancshares, Inc.,
Houston, TX

90/05/16

SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER
NOTICE ONLY
APPLICATION

NOTICE EXP

Section 4(c)(8) de novo notification by
United Texas Financial Corporation, Wichita Falls, TX, to
engage in the activity of acquiring loans for itself or
for others of the type made by an agricultural lender
pursuant to Section 225.25(b)(1)

90/05/25

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 RESERVE BANK OF SAN FRANCJSOO

Week ending 5/11/90
Section I - Applications Subject to Newspaper Notice Only
Application

Comment Period Ending Date

Valley Bank of Nevada, Las Vegas, Nevada,
to merge with the Dayton, Nevada, branch of
Comstock Bank, Carson City, Nevada. *

Newspaper:

Not available

Section II - Applications Subject to Both
Newspaper and Federal Register Notice
First Hawaiian, Inc., Honolulu, Hawaii, to
acquire First Interstate of Hawaii, Inc.,
Honolulu, Hawaii. *
Cascade Bancorp, Bend, Oregon, to become a
bank holding company through the acquisition
of 100 percent of Bank of the Cascades,
Bend, Oregon. *
North Cascades Bancshares, Chelan, Washington,
to become a bank holding company through the
acquisition of North Cascades National Bank,
Chelan, Washington. *
Sierra Tahoe Bancorp, Truckee, California,
to acquire Sierra Bark of Nevada,
Reno, Nevada. *

Fed. Rea.:

5/21/90

Newspaper:

Not available

Fed. Rea.:

5/25/90

Newspaper:

Not available

Fed. Rea.:

6/06/90

Newspaper:

6/09/90

Fed. Rea.:

6/06/90

Newspaper:

6/11/90

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