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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H,2 1973 No. 20 Applications and Reports Received or Acted on During the Week Ending May 19, 1973 District 4 Date Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Received Beaver Trust Company, Beaver, Pennsylvania * * * * * 11 To Withdraw from Membership in the Federal Reserve System Without a Six-Month Notice as Prescribed by Section 9 of the Federal Reserve Act Received East End State Bank, Houston, Texas * * * * * 2 2 To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received Bankers Trust Company of Rochester, Rochester, New York. Branch to be established at the intersection of East Henrietta Road and Calkins Road, Town of Henrietta, Monroe County. Madison State Bank, Madison, New Jersey. Branch to be established at the Northeast corner of the intersection of Cliffwood Avenue and Laurence Harbor-Morristown Road, Township of Madison, Middlesex County. ! 5-15-73 H. 2 1973 No. 20 - 2 Received Continued Girard Trust Bank, Bala Cynwyd, Montgomery County, Pennsylvania. Branch to be established at 520 Penn Street, Reading, Berks County. The Ohio Savings & Trust Company, New Philadelphia, Ohio. Branch to be established at the corner of Wabash and Monroe Street, New Philadelphia, Tuscarawas County. Withdrawn Manufacturers Hanover Trust Company, New York, New York. Branch to be established at the Southwest corner of Franklin Avenue and Seventh Street, Incorporated Village of Garden City, Nassau County. Bankers Trust Company, New York, New York. Branch to be established in the immediate vicinity of Franklin Avenue and 11th Street, Garden City. Approved *Bar Harbor Banking and Trust Company, Bar Harbor, Maine. Branch to be established on Route 172, Deer Isle. -State Bank of Albany, Albany, New York. Branch to be established at 111 Delaware Avenue, Delaware, Albany County. ^Marine Midland Bank-New York, New York, New York. Branch to be established at the Southeast corner of the intersection of Asch Loop and Bartow Avenue, CO-OP City, Bronx County. *The Hillsboro Bank and Savings Company, Hillsboro, Ohio. Branch to be established at 1468 North High Street, Hillsboro, Highland County. ^Mountain Trust Bank, Roanoke, Virginia. Branch to be established at 5110 Williamson Road N. W., Roanoke. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 3 - 1973 No. 20 2 1 To Organize, or Invest in, a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant To Section 25 or 25(a) of the Federal Reserve Act Received Manufacturers and Traders Trust Company, Buffalo, New York. To organize a corporation to be known as First Empire Overseas Corporation to be located in Buffalo, New York. Approved The First National Bank of Boston, Boston, Massachusetts. To organize an Edge corporation to be known as Bank of Boston International Los Angeles at Los Angeles, California. V? 2 Vc * * Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country Approved First National City Bank, New York, New York City. To establish an additional branch in Managua, Nicaragua. * * * * * H. 2 1973 No. 20 7 - 4 To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Great Lakes Bancorp, Inc., Kalamazoo, Michigan, for prior approval to acquire 90 per cent or more of the voting shares of Industrial State Bank & Trust Company, Kalamazoo, Michigan; 90 per cent or more of the voting shares of The Owosso Savings Bank, Owosso, Michigan; and 90 per cent or more of the voting shares of Alpena Savings Bank, Alpena, Michigan. 7 Southwest Company, Sidney, Iowa, for prior approval to acquire 85 per cent or more (less directors 1 qualifying shares) of the voting shares of Fremont County Savings Bank, Sidney, Iowa. 9 **Fidelity Corporation, Burke, South Dakota, for prior approval to acquire 98 per cent or more of the voting shares of Burke State Bank, Burke, South Dakota. 11 Approved **Bancshares, Inc., Houston, Texas, for prior approval to acquire 100 per cent of the voting shares (less directors 1 qualifying shares) of MacGregor Park National Bank of Houston, Houston, Texas. * * * * * 2 To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received **Fidelity Union Bancorporation, Newark, New Jersey, for prior approval to acquire 100 per cent (less directors 1 qualifying shares) of the voting shares of Fidelity Union Trust Company, N.A., Morristown, New Jersey, a proposed new bank. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. Received Continued First & Merchants Corporation, Richmond, Virginia, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of First & Merchants National Bank of Tidewater, Chesapeake, Virginia, a proposed new bank. Barnett Banks of Florida, Inc., Jacksonville, Florida, for prior approval to acquire 90 per cent or more of the voting shares of Delray Beach National Bank, Delray Beach, Florida. Barnett Banks of Florida, Inc., Jacksonville, Florida, for prior approval to acquire 51 per cent or more of the voting shares of the Fidelity Bank of West Delray Beach, Palm Beach County, Florida. General Financial Systems, Inc., Riviera Beach, Florida, for approval to retain 2,450 shares of the voting shares of Tri-City Bank, Palm Beach Gardens, Florida. Great Lakes Holding Company, Kalamazoo, Michigan, for prior approval to acquire indirectly 90 per cent of the voting shares of Alpena Savings Bank, Alpena, Michigan, through acquisition of Great Lakes Bancorp, Inc., Kalamazoo, Michigan. Great Lakes Holding Company, Kalamazoo, Michigan, for prior approval to acquire indirectly 90 per cent or more of the voting shares of Industrial State Bank & Trust Company, Kalamazoo, Michigan, through acquisition of Great Lakes Bancorp, I n c K a l a m a z o o , Michigan. Great Lakes Holding Company, Kalamazoo, Michigan, for prior approval to acquire indirectly 90 per cent or more of the voting shares of The Owosso Savings Bank, Owosso, Michigan, through acquisition of Great Lakes Bancorp, Inc., Kalamazoo, Michigan. D. H. Baldwin Company, Cincinnati, Ohio, for prior approval to acquire a majority of the voting shares of the successor by merger to First National Bank in Grand Junction, Grand Junction, Colorado. Received Continued D. H. Baldwin Company, Cincinnati, Ohio, for prior approval to acquire a majority of the voting shares of the successor by merger to The First National Bank of Glenwood Springs, Glenwood Springs, Colorado. First National Charter Corporation, Kansas City, Missouri, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to American National Bank in Springfield, Springfield, Missouri. Approved BancOhio Corporation, Columbus, Ohio, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to The Gummings Bank Company, Carrollton, Ohio. First Piedmont Corporation, Greenville, South Carolina, for prior approval to acquire 9.5 per cent of the voting shares of First Palmetto State Bank and Trust Company, Columbia, South Carolina. Mercantile Bankshares Corporation, Baltimore, Maryland, for prior approval to acquire 80 per cent or more of the voting shares of The Citizens National Bank, Laurel, Maryland. First Security Corporation, Salt Lake City, Utah, for prior approval to acquire all of the voting shares (less directors' qualifying shares) of the First Security Bank of Logan, Logan, Utah, a proposed new bank. Suspended On H.2 No. 6, the Board reported receipt of an application from Florida Bancorp, Inc., Pompano Beach, Florida, for prior approval to acquire 90 per cent of the voting shares of Lighthouse Point Bank, Lighthouse Point, Florida. This application is now in suspense awaiting receipt of Applicant's reply to a Department of Justice letter to the Board dated May 5, 1973. Withdrawn On H.2 No. 3, the Board reported receipt of an application from Grandco Bancorporation, Granby, Colorado, for prior approval to acquire 12,201 or more of the voting shares of The Bank of Winter Park, Hideaway Park, Colorado. In a letter dated May 1, 1973, Applicant requested that the application be withdrawn . * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956 Received D. H. Baldwin Company, Cincinnati, Ohio, for prior approval to acquire a majority of the voting shares of First McKinley Corporation, Glenwood Springs, Colorado. D. H. Baldwin Company, Cincinnati, Ohio, for prior approval to merge with First Western Slope Corporation, Grand Junction, Colorado. H.2 1973 No. 20 2 8 - Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **First National City Corporation, New York, New York, notification of intent to establish new offices of its wholly-owned subsidiary, Acceptance Finance Company, as subsidiaries thereto, to engage in de novo activities (making consumer installment personal loans, purchasing consumer installment sales finance contracts; and acting as broker for the sale of consumer credit related life-accident and health insurance and consumer credit related property and casualty insurance; and if this proposal is effected the offices will offer to sell insurance as follows: (a) group credit life-accident and health insurance to cover the outstanding balances of loans to borrowers in the event of their death, or to make the contractual monthly payments on the loans in the event of the borrowers's disability; (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements with Acceptance; in regard to the sale of credit related insurance, counseling will not be offered) in New Orleans, Louisiana; Denver, Colorado; and Ballwin, Missouri. 1 5-14-73 5 **First Piedmont Corporation, Greenville, South Carolina, notification of intent to engage in a de novo activity (leasing personal property and equipment, or acting as agent, broker, or advisor in leasing of such property) through its subsidiary, First Piedmont Leasing Company, Inc., in Greenville, South Carolina. 5-18-73 5 **First Virginia Bankshares Corporation, Falls Church, Virginia, notification of intent to engage in de novo activities (operating as a finance company, including the extension of small personal loans; financing retail installment sales; granting real estate loans, primarily second mortgage loans; and acting as agent or broker in the sale of property insurance, credit life insurance, credit accident and health insurance to its customers) through its subsidiary, Atlantic Finance Company (a subsidiary of Benson Investment Corporation), in Lake Charles, Louisiana. 5-18-73 ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 20 5 6 - 9 - Received Continued **Maryland National Corporation, Baltimore, Maryland, notification of intent to engage in d_e novo activities (engaging generally in the business of leasing personal property, including, but not limited to, the leasing of various types of equipment, machinery, vehicles, transportation equipment, and data processing equipment; orginating personal property leases as principal or agent; servicing personal property leases for affiliated or nonaffiliated individuals, parterships, or corporations; buying and selling and otherwise dealing in personal property lease contracts as principal or agent; acting as adviser in personal property leasing transactions; and in the placement, as agent or broker, and through agents and brokers, of appropriate forms of insurance for the purpose of protecting its interest as lessor or the interests of others as lessors in such leases or such personal property) through a subsidiary to be known as Maryland National Leasing Corporation, in Baltimore, Maryland. **Barnett Banks of Florida, Inc., Jacksonville, Florida, notification of intent to engage in de novo activities ((1) conducting the business of a mortgage company, including the making or acquiring, for its own account or for the account of others, loans and other extensions of credit; (2) servicing loans and other extensions of credit for any person; and (3) acting as investment or financial adviser to the extent of (i) providing portfolio investment advice, and (ii) furnishing general economic information and advice) in Menlo Park, California, through its present subsidiary, Barnett-Winston Company. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-14-73 5-17-73 H.2 1973 No. 20 6 - 10 - Received Continued **The Citizens and Southern National Bank, and its wholly-owned subsidiary, Citizens and Southern Holding Company, Atlanta, Georgia, notification of intent to change the location of activities engaged in de novo (rendering of investment advice and portfolio management services to individuals, corporations, pension and profitsharing plans, private foundations, and endowments) through its present subsidiary, Citizens and Southern Investment Counseling, Incorporated, from 1020 Ingraham Bldg, 25 S.E. Second Avenue, Miami, Florida, to Suite 704 Catalonia Bldg, 250 Catalonia Avenue, Coral Gables, Florida. First National Holding Corp., Atlanta, Georgia, for permission to retain the shares of Tharpe & Brooks Incorporated, Atlanta, Georgia. Southwest Company, Sidney, Iowa, for permission to retain the assets of Pullman Insurance Agency, Sidney, Iowa. 12 **Patagonia Corporation, Tucson, Arizona, notification of intent to engage in de novo activities (acting as a consumer finance company; and acting as an insurance agent in connection with insurance directly related to the extension of credit to the subsidiary's borrowers) through a proposed de novo office of its subsidiary, Model Finance Company to be known as Model Finance Company of Nebraska, Omaha, Nebraska. 12 **U.S. Bancorp, Portland, Oregon, 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 issuing letters of credit and accepting drafts), such as would be made, for example, by a mortgage, finance, credit card, or factoring company; and servicing loans and other extensions of credit for any person) in Portland, Oregon. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 20 1 -11Approved GET Corporation, Hartford, Connecticut, for prior approval to acquire all of the voting shares of General Discount Corporation and thereby to indirectly acquire voting shares of Company 1 s subsidiaries G.D.C. Leasing Corporation and General Discount Corporation (Maine), all with head offices in Boston, Massachusetts. 6 Third National Corporation, Nashville, Tennessee, for prior approval to acquire all of the voting shares of the successor by merger to John W. Murphree Company, Nashville, Tennessee. 7 American Fletcher Corporation, Indianapolis, Indiana, for prior approval to acquire assets of Shoppers Charge Service, Inc., Cincinnati, Ohio\ Shoppers Charge Service, Inc., St. Louis, Missouri; Shoppers Charge Service, Inc., Minneapolis, Minnesota; Houston Shoppers Charge Service, Houston, Texas; Shoppers Charge division of Indianapolis Morris Plan Corporation, Indianapolis, Indiana; and the Custom Services division of the Shoppers Charge division of Indianapolis Morris Plan Corporation, each of which corporation is a subsidiary of Economy Finance Corporation, Indianapolis, Indiana. 1 2 Permitted **Shawmut Association, Inc., Boston, Massachusetts, to engage in de novo activities (making or acquiring loans and other extensions of credit such as would be made by a commercial finance company; and servicing such loans) through a subsidiary to be known as Shawmut Credit Corp., in Boston, Massachusetts; and New York, New York. **The Chase Manhattan Corporation, New York, New York, 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, such as would be made by a mortgage company; and servicing such loans and other extensions of credit for any person) through a subsidiary known as Dovenmuehle, Inc., Chicago, Illinois, in Colorado Springs, Colorado. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-17-73 5-18-73 n -^ 1973 No. 20 2 19 - ^ - Permitted Continued **First National City Corporation, New York, New York, to engage in de novo activities (making consumer installment personal loans, purchasing consumer installment sales finance contracts; and acting as broker for the sale of consumer credit related life-accident and health insurance, and consumer credit related property and casualty insurance; if this proposal is effected, the offices will offer to sell insurance as follows: (a) credit life-accident and health insurance to cover the outstanding balances of loans to borrowers in the event of their death, or to make the contractual monthly payments on the loan in the event of the borrowers disability; (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements) through four new offices of its wholly-owned subsidiary, Acceptance Finance Company, as subsidiaries thereto, in Moore, Oklahoma; Kenner, Louisiana; Austell, Georgia; and Tucson, Arizona. 5-14-73 5 ^Fidelity American Bankshares, Inc., Lynchburg, Virginia, to engage in de novo activities (granting and servicing loans secured by mortgages (principally second mortgages to individuals); and acting as agent in the sale of credit life and credit accident insurance in connection with such loans) through its subsidiary, Columbia Mortgage Company, in Hampton, Portsmouth, and Virginia Beach, Virginia. 5-19-73 6 **Barnett Banks of Florida, Inc., Jacksonville, Florida, to engage in a d_e novo activity (acting as investment adviser to the extent of providing portfolio investment advice and administrative services to a publiclyowned corporation engaged in investing in ownership interests in income-producing real estate) in Jacksonville, Florida, through a subsidiary to be known as Barnett-Winston Property Advisers, Inc. 5-17-73 **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 20 6 6 -13Pemitted Continued **Citizens and Southern Holding Company, Atlanta, Georgia, to engage in de_ novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor's full investment in the property) in Los Angeles, California, through a subsidiary known as Citizens and Southern Factors, Inc. **Citizens and Southern Holding Company, Atlanta, Georgia, to engage in d£ novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor' full investment in the property) in Miami, Florida, through a subsidiary known as Citizens and Southern Factors, Inc. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. n.^ 1973 No. 20 6 6 -14Fermitted Continued **Citizens and Southern Holding Company, Atlanta, Georgia, to engage in de novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor 1 s full investment in the property) in Dallas, Texas, through a subsidiary known as Citizens and Southern Factors, Inc. **First Amtenn Corporation, Nashville, Tennessee, to engage in de novo activities (factoring, the purchase both directly and through agents employed for the purpose without recourse to the factored client for any financial inability of the account debtor to pay, of accounts receivable (which terms includes all accounts, notes, bills, acceptances, or other evidences of indebtedness) created by the sale and delivery of goods or the retention of services in the ordinary course of business by retail and wholesale sellers, manufacturers, and others providing goods and services; and lending upon the security of accounts receivable, inventory, and other classes of personal property of retail and wholesale sellers, manufacturers, and others providing goods and services) in Nashville, Tennessee, through a subsidiary known as First Amtenn Financial Corporation. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-17-73 5-14-73 H. 2 1973 No. 20 7 8 - 15Permitted Continued **SJV Corporation, Elkhart, Indiana, 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 issuing letters of credit and accepting drafts), such as would be made, for example, by a mortgage, finance, credit card, or factoring company; and servicing loans and other extensions of credit for any person) through a subsidiary known as SJV Financial Corp., Elkhart, Indiana. **T G Bancshares Co., St. Louis, Missouri, to engage de novo (in the establishment and operation of a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operations of the holding company, its subsidiaries, correspondent banks, and/or unrelated participating banks; store and process other banking, financial or related economic data; furnish facilities and operating personnel to the data processing programs; and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Central Missouri, an indirect subsidiary of T G Bancshares Co., in Columbia, Missouri. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-14-73 5-14-73 1973 No. 20 8 8 — 16 - Permitted Continued **T G Bancshares Co., St. Louis, Missouri, to engage de novo (in the establishment and operation of a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operation of the holding company, its subsidiaries, correspondent banks, and/or unrelated participating banks; store and process other banking, financial $ or related economic data; furnish facilities and operating personnel to the data processing programs and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Hannibal, an indirect subsidiary, by Financial Computing Corporation of Missouri, a direct subsidiary of T G Bancshares Co., in Hannibal, Missouri. **T G Bancshares Co., St. Louis, Missouri, to engage de novo (in the establishment and operation of a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operations of the holding company, its subsidiaries, correspondent banks, and/or unrelated participating banks; store and process other banking, financial, or related economic data; furnish facilities and operating personnel to the data processing programs; and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Lebanon, an indirect subsidiary, by Financial Computing Corporation of Missouri, a direct subsidiary of T G Bancshares Co., in Lebanon, Missouri. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 20 12 12 2 - 17 Permitted Continued **BankAmerica Corporation, San Francisco, California, to engage in a de novo activity (acting as an insurance agent with respect to credit life and credit disability insurance that is directly related to an extension of credit by Bank of America National Trust and Savings Association, a whollyowned subsidiary, except for directors' qualifying shares, of BankAmerica Corporation) through a subsidiary to be known as BA Insurance Agency, Inc., San Francisco, California. **Wells Fargo & Company, San Francisco, California, to engage in a de novo activity (finance leasing of personal property and equipment, and acting as agent, broker, and adviser in leasing such property) through its subsidiary, Wells Fargo Leasing Corporation, in Houston, Texas. Correction: **First Jersey National Corporation, Jersey City, New Jersey, to engage in de_ novo activities (making secured and unsecured loans and in connection therewith the sale of credit life insurance) in Wallingford, Connecticut, through its subsidiary, Guardian Loan Company, Inc., Roslyn Heights, New York. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-19-73 5-13-73 5- 5-73 • 1ft -io- 1973 No. 20 5 • Withdrawn **First & Merchants Corporation, Richmond, Virginia, notification of intent to retain a de novo activity (acting as financial adviser to TriSouth Mortgage Investors, a Massachusetts business trust operating as a real estate investment trust) through a subsidiary known as F & M Tri-South Corporation, Richmond, Virginia, a general partner along with NCNB Tri-South Corporation, and First Atlanta Tri-South Corporation, subsidiaries respectively of NCNB Corporation, Charlotte, North Carolina; and First National Holding Corporation, Atlanta, Georgia, both bank holding companies in a partnership known as Tri-South Management Associates, which serves as the investment advisor to Tri-South Mortgage Investors, in Atlanta, Georgia. 5-14-73 * * * * * 10 To Expand a Bank Holding Company Pursuant to Section 4(c) (12) of the Bank Holding Company Act of 1956 Received **Arizona-Colorado Land & Cattle Company, Phoenix, Arizona, notification of intent to acquire Chambers, Campbell, Isaacson & Chaplin, Inc., Counsulting Engineering Company, Albuquerque, New Mexico. * * * * * 7 For Exemption Pursuant to Section 4(d) of the Bank Holding Company Act of 1956 Approved R. R. Donnelley & Sons Company, Chicago, Illinois. ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 5-15-73
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