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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1977 No. 19)
Actions of the Board; Applications and Reports
Received During the Week Ending May 7, 1977
ACTIONS OF THE BOARD
Statement by Chairman Arthur F. Burns before the Senate
Committee on Banking, Housing and Urban Affairs on the
condition of the national economy and the course of
monetary policy.
Statement by Governor David M. Lilly before the House Subcommittee on Employee Ethics and Utilization of the
Committee on Post Office and Civil Service on H.R. 2387,
a bill that would raise to Level I of the Executive
Schedule the positions of the Chairman of the Board of
Governors and of the Director of the Office of Management
and Budget, and to Level II the positions of the Board
Members and the Deputy Director of the Office of Management and Budget.
Regulation Z, proposal to make four simplifying revisions of
Truth in Lending, the proposals are meant to eliminate
unnecessary information from the Truth in Lending disclosure
statement in order to focus attention on the more meaningful
and useful cost disclosures as well as to promote creditor
compliance with the Regulation. The Board will receive
comments on its proposals through June 15, 1977. (Docket
No. R-0098).
Baylake Corp., Sturgeon Bay, Wisconsin, extension of time to
October 21, 1977, within which to become a bank holding
company through the acquisition of 80 per cent or more of
the voting shares of Bank of Sturgeon Bay, Sturgeon Bay,
Wisconsin. 1/
Dunn Shares, Inc., Eagle Grove, Iowa, extension of time to
June 4, 1977, within which to become a bank holding
company through the acquisition of 51.33 per cent or more
of the voting shares of Security Savings Bank, Eagle
Grove, Iowa, 1/
\j
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 19
2
ACTIONS OF THE BOARD-Continued
First City Bancorporatiori of Texas, Inc., Houston, Texas,
extension of time to May 31, 1977, within which to
consummate the acquisition of Red Bird National Bank,
Dallas, Texas. 1/
Estate of James Millikin, Deceased, Decatur, Illinois,
extension of time to August 3, 1977, within which to
acquire 55 per cent of the voting shares of the succesor
by merger to The Millikin National Bank of Decatur,
Decatur, Illinois. 1/
Connecticut Bank and Trust Company, Hartford, Connecticut,
extension of time to December 31, 1977, within which to
establish a branch at 505 Saw Mill Road, West Haven,
Connecticut. 1/
Harris Trust and Savings Bank, Chicago, Illinois, extension
of time to September 1, 1977, within which to establish a
branch at the Board of Trade Building, Chicago, Illinois. 1/
Columbus Trust Company, Columbus, Ohio, extension of time
to June 30, 1977, within which to become a member of the
Federal Reserve System. 1/
Marine Midland International Corporation, New York, New York,
extension of time within which to complete its investment
in Marmid Finance Limited, Hong Kong. 1/
Kentwood Bank, N.A., Kentwood, Michigan, proposed merger
with Kentwood National Bank, Kentwood, Michigan, report
to the Comptroller of the Currency on competitive factors.
1/
National Union Bank, Columbiana, Ohio, proposed merger with
X National Bank, Columbiana, Ohio, report to the Comptroller of the Currency on competitive factors. 1/
Bank of West Blocton, West Blocton, Alabama, extension of
time to September 1, 1977, within which to effect withdrawal from membership. V
T7
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 19
- 3
ACTIONS OF THE BOARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
Western State Bank, Sioux Falls, South Dakota. Branch
to be established upon relocation of main office. 2/
* * * * *
Thirty Day Notice by a Member Bank of Intention to
Establish an Additional Branch in a Foreign Country
Approved
Bank of America N T and S A: Branch-Additional in Red
Hook, St. Thomas, Virgin Islands.
*
* * * *
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
Approved
Citibank Overseas Investment Corporation: InvestmentTo acquire shares of IAC (Holdings) Limited, Melbourne,
Australia, now held by Citicorp and the Australian
Public.
Citicorp: Amend Board's letter of 12-23-75 to extend
reinvestment of cash dividends in Foreign subsidiaries.
Manufacturers Hanover International Finance Corporation:
Investment- to acquire a de novo leasing corporation in
Great Britain and for the latter to issue debt obligations.
International Bank of Detroit: To suspend subsidiary conditions: Hondela Finance Limited, Hong Kong.
Bankamerica Corporation:
dends received.
2/
Investment-to reinvest cash divi-
Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
#
H.2, 1977 No. 19
- 4
ACTIONS OF THE BOARD-Continued
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
Approved
McCune Bancshares, Inc., McCune, Kansas, for approval to
acquire 80 per cent or more of the voting shares of
McCune State Bank, McCune, Kansas.
SYB Corporation, Oklahoma City5 Oklahoma, for approval
to acquire 80 per cent or more of the voting shares of
Stock Yards Bank, Oklahoma City, Oklahoma.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Approved
Peoples Banking Corporation, Bay City, Michigan, for approval to acquire 100 per cent of the voting shares of
The First National Bank of Lapeer, Lapeer, Michigan.
Roger Billings, Incorporated, Delphos, Kansas, for approval to acquire an additional 10 per cent of the voting
shares of The State Bank of Delphos, Delphos, Kansas.
Denied
Northwest Bancorporation, Minneapolis, Minnesota, for approval to acquire 90 per cent or more of the voting
shares of First National Bank, Fort Dodge, Iowa, Fort
Dodge, Iowa.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the. Bank Holding Company Act of 1956
Withdrawn
Manufacturers Hanover Corporation, New York, New York,
for approval for the continuance of certain activities
by its subsidiary, Ritter Financial Corporation, Wyncote,
Pennsylvania with offices located in Sicklerville, New
Jersey; Fairmont, North Carolina; Red Springs, North
Carolina; Wadesboro, North Carolina; Humnielstown, Pernv-
H.2, 1977 No. 19
ACTIONS OF THE BOARD-Continued
sylvania; Warsaw, Virginia; Woodstock, Virginia (consumer
credit related property and casualty insurance which is
related to extensions of credit by Ritter Financial Corporation)
Delayed
Citicorp, New York, New York, notification of intent to
relocate cie novo activities (making of consumer installment personal loans and purchasing consumer installment
sales finance contracts; credit related insurance coverages are sold) from 3416 Central Avenue, S.E., Albuquerque,
New Mexico to Coronado Shopping Center, Corner of Menaul
& Louisiana, N.E., Albuquerque, New Mexico (5/4/77) 3/
Trust Company of Georgia, Atlanta, Georgia, notification of
intent to engage in de novo activities (providing data
processing services to banks and bank holding companies
including, but not limited to, processing for checking
and savings accounts, savings certificates, installment
loans, commercial loans, overdraft banking, automated
proof transit, general ledger and check reconcilement) at
2140 N.E. 2nd Street, Gainesville, Florida, through a
subsidiary, Trusco Data Systems of Florida, N.A. (5/4/77)
1/
Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de_ novo activities (acting
as agent or broker for the sale of credit related property and casualty insurance) at 80 South Lake Avenue,
Pasadena, California, through its subsidiary, Security
Pacific Finance Corp. (5/2/77) 3/
Permitted
Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activities (leasing real and personal property on a full payout basis
and acting as agent, broker, or adviser in leasing of
such property and the making and acquiring, for its own
account or for the account of others, loans and other
extensions of credit with respect to such property and
serving such leases, loans or other extensions of credit)
at 400 Executive Park Drive, Cincinnati, Ohio, through
its subsidiary, Manufacturers Hanover Leasing Corporation
(5/6/77) 3/
3 7 4 ( c ) ( 8 ) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 N o ~ 9
-
ft
-
ACTIONS OF THE BOARD-Continued
Manufacturers Hanover Corporation, New York, New York, 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 such as
would be made by a finance company; servicing loans and
other extensions of credit for any person; and acting as
agent or broker for the sale of credit related life/accident and health insurance which is related to extensions
of credit made and acquired by Ritter Finance Company
and/or its direct and indirect subsidiaries) at 110
Courthouse Avenue, Burgaw, North Carolina, through its
indirect subsidiary, Ritter Finance Company, Inc. of
North Carolina (5/6/77) 3/
First Security Corporation, Salt Lake City, Utah, 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 such as
would be made by a mortgage company and servicing of such
loans particularly commercial and residential real estate
loans) at 1325 South 800 East Street, Orem, Utah, through
its subsidiary, Utah Mortgage Loan Corporation (5/5/77)
3/
First Security Corporation, Salt Lake City, Utah, 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 such as
would be made by a mortgage company and the servicing of
such loans particularly commercial and residential real
estate loans) at 1445 South Poplar Street, Rock Springs,
Wyoming, through its subsidiary, Utah Mortgage Loan
Corporation (5/5/77) 3/
Wells Fargo & Company, San Francisco, California, 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; servicing
loans and other extensions of credit for other persons;
acting as an insurance agent or broker with respect to
the following types of insurance that are directly related to the extension of credit by Wells Fargo & Company
or its subsidiaries: credit life and credit accident and
health insurance and mortgage redemption life insurance
and group mortgage disability insurance) at 7650 Pacific
Avenue, Stockton, California, through its subsidiaries,
Wells Fargo Mortgage Company and WFMC Corporation (5/2/77)
3/
17
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 19
- 7
ACTIONS OF THE BOARD-Continned
Approved
Manufacturers Hanover Corporation, New York, New York,
for approval to commence certain activities by its
indirect subsidiary, Ritter Life Insurance Company,
Wyncote, Pennsylvania (engaged in underwriting, as
reinsurer, credit life and credit accident and health
insurance which is related to extensions of credit made
or acquired by Ritter Financial Corporation)
Manufacturers Hanover Corporation, New York, New York,
for approval for the continuance of certain activities by
its subsidiary, Ritter Financial Corporation, Wyncote,
Pennsylvania with offices located in Sicklerville, New
Jersey; Fairmont, North Carolina; Red Springs, North
Carolina; Wadesboro, North Carolina; Hummelstown, Pennsylvania; Warsaw, Virginia; Woodstock, Virginia (engaged
in 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 finance company; servicing
loans and other extensions of credit for any person; and
acting as agent or broker for the sale of credit related
life and accident and health insurance)
McCune Bancshares, Inc., McCune, Kansas, for permission to
engage in the sale of credit life and credit accident and
health insurance and other insurance directly related to
extensions of credit by McCune State Bank, McCune, Kansas.
SEAFIRST CORPORATION, Seattle, Washington, for approval to
acquire indirectly, through its wholly-owned subsidiary,
Seafirst Insurance Services Corporation, Seattle, Washington,
all of the voting shares of Seafirst Life Insurance
Company, Seattle, Washington.
Wells Fargo & Company, San Francisco, California, for approval to acquire all of the voting shares of Ben C.
McGuire & Company, Houston, Texas.
H.2, 1977 No. 19
—
8
—
ACTIONS OF THE BOARD-Continued
To Expand a Bank Holding Company Pursuant to Section
4(c) (12) of the Bank Holding Company Act of 1956
Permitted
Arizona-Colorado Land & Cattle Company, Phoenix, Arizona,
notification of intent to acquire 49 per cent of Rechem
Corp., Phoenix, Arizona. (5/5/77) 3/
Arkansas Best Corporation, Fort Smith, Arkansas, notification of intent to acquire, through its wholly-owned
subsidiary, Arkansas Bandag Corporation, all of the
capital stock ot Southwest-Bandag, Inc., Houston, Texas
(5/2/77) 3/
* * * * *
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
Republic of Texas Corporation, Dallas, Texas ("Republic"),
prior certification pursuant to § 6158(a) of the Internal
Revenue Code, that the proposed sale by The Howard
Corporation, a subsidiary of Republic, of the Uptown
Shopping Center, Shreveport, Louisiana, is necessary or
appropriate to effectuate § 4 of the Bank Holding Company
Act. (Legal Division Docket No. TCR 76-107(b)). */
The Wachovia Corporation, Winston-Salem, North Carolina,
prior certification pursuant to § 6158(a) of the Internal
Revenue Code, that its proposed sale of all of the 20,000
issued and outstanding shares of Financial Courier Corporation (formerly Wachovia Courier Corporation), is
necessary or appropriate to effectuate § 4 of the Bank
Holding Company Act (Legal Division Docket No. TCR 76132) */
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority
*_/ Issued by the General Counsel of the Board pursuant to delegated
authority.
B.2, 1977 No. 19
- 9
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Fidelity Union Trust Company, Newark, New Jersey. Branch
to be established inside the Pathmark Supermarket located
in the Ricker's Pathmark Shopping Center at the Intersection of Route 22 and Springfield Road, Union Township.
The Toledo Trust Company, Toledo, Ohio. Branch to be
established at the Southeast Corner of Wales Road and
Oregon Road, Village of Northwood, Wood County.
The Farmers Savings & Trust Company, Mansfield, Ohio.
Branch to be established at 800 Ashland Road, Mansfield,
Richland County.
Pee Dee State Bank, Timmonsville, South Carolina. Branch
to be established at the Intersection of Railroad Avenue
and Main Street, Lamar.
Old Kent Bank & Trust Company, Grand Rapids, Michigan.
Branch to be established in the vicinity of 0-300 Chicago
Drive, Georgetown Township, Ottawa County.
The Bank of Neosho, Neosho, Missouri. Branch to be established at a separate facility to be located adjacent to
the Corner of Hill Street and Neosho Boulevard, Neosho.
Fort Worth Bank & Trust, Fort Worth, Texas. Branch to be
established as a Drive-in and Mini-Bank Branch to be
located immediately across Beach Street from Main Bank
Building, Sullivan.
Valley Bank of Nevada, Las Vegas, Nevada. Branch to be
established at the intersection of Tropicana Avenue and
Jones Boulevard, Las Vegas.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
PE0T0NE BANCORP, INC., Peotone, Illinois, for approval to
acquire 80 per cent or more of the voting shares of
Peotone Bank and Trust Company, Peotone, Illinois.
H.2, 1977 No. 19
- 1 0 -
APPLICATIONS RECEIVED-Continued
Winner Banshares, Inc., Winner, South Dakota, for approval
to acquire 94.4 per cent of the voting shares of Farmers
State Bank, Winner, South Dakota.
First of Grandfield Corporation, Grandfield, Oklahoma, for
approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of First State Bank,
Grandfield, Oklahoma.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Southeast Banking Corporation, Miami, Florida, for approval
to acquire 100 per cent of the voting shares of Southeast
Acquisition Company, Miami; Southeast Bank of Fort Myers,
N.A., Fort Myers; Southeast Bank of St. Armands, Sarasota;
Southeast Bank of Siesta Key, Sarasota; and Southeast
Bank of Village Plaza, N.A., Sarasota; all located in
Florida.
DETROITBANK Corporation, Detroit, Michigan, for approval to
acquire 100 per cent of the voting shares (less directors'
qualifying shares) of Kentwood Bank, N.A., Kentwood,
Michigan, the successor by absorption to Kentwood National
Bank, Kentwood, Michigan.
First Midwest Bancorp., Inc., St. Joseph, Missouri, for approval to acquire 80 per cent or more of the voting
shares of L.W.J.S. Corporation, Gower, Missouri and
indirectly acquire The Farmers Bank of Gower, Gower,
Missouri.
* * * * *
To Retain Bank Shares Acquired in a Fiduciary Capacity
Pursuant to Section 3 of the Bank Holding Company Act
of 1956
First United Bancorporation, Inc. and First National Bank
of Fort Worth, both in Fort Worth, Texas, for approval to
retain 9,960 shares of Everman National Bank of Fort
Worth, Fort Worth, Texas.
H.2, 1977 No. 19
-
11
-
APPLICATIONS RECEIVED-Continued
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Northeast Bankshare Association, Lewiston, Maine, notification of intent to engage in de novo activities (servicing
loans and other extensions of credit related to credit
card issuance by banks and merchants particularly providing credit card administration, processing and customer
servicing including distribution of newly approved and
renewed credit cards, the calculation and distribution of
monthly customer billing, the resolution of customer
complaints and billing errors, the receipt of customer
payments and the disbursement of funds to the credit
granting bank or merchant) at 178 Court Street, Auburn,
Maine, through its subsidiary, Northeast Consumer Services Corp. (5/6/77) 3/
Chemical New York Corporation, New York, New York, notification of intent to engage in de novo activities (the
origination and sale of mortgage loans on residential,
commercial and industrial real estate; the servicing of
mortgage loans owned by The Galbreath Mortgage Company
and owned by others) in the vicinity of Briley Parkway
and Murfreesboro Pike, Nashville, Tennessee and in the
vicinity of the Galleria area on Westheimer Road, Houston,
Texas, through xts subsidiary, The Galbreath Mortgage
Company (5/3/77) 3/
Citicorp, New York, New York, notification of intent to
relocate de novo activities (making of consumer installment personal loans; purchasing consumer installment
sales finance contracts; the sale of credit related life/
accident and health insurance; sale by a licensed agent
of insurance which protects personal property subject to
a security agreement with Citicorp Person-to-Person Financial Center) and to engage de novo in the following
additional activity (making loans for the account of
others such as one-to-four family unit mortgage loans)
from 3845 Florida Street, Baton Rouge, Louisiana to
Cortana Mall, Space D-7, Florida Boulevard at Airline
Highway, Baton Rouge, Louisiana (5/2/77) 3J
Citicorp, New York, New York, notification of intent to
relocate de novo activities (making of consumer installment personal loans and purchasing consumer installment
sales finance contracts; credit related insurance coverages are sold) from 3416 Central Avenue. S.E., Albuquerque,
New Mexico to Coronado Shopping Center, Corner of Menaul
& Louisiana, N.E., Albuquerque, New Mexico (5/2/77) 3/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 19
-
12 -
APPLICATIONS RECEIVED-Contlnued
Citicorp, New York, New York, notification of intent to
relocate de novo activities (making of consumer installment personal loans, purchasing consumer installment
sales finance contracts; sale of credit related life/acciident and health insurance; sales by a licensed agent of
insurance which protects personal property subject to a
security agreement with Nationwide Financial Corporation
of Oklahoma) and to engage de novo in the following
additional activity (making loans for the account of
others such as one-to-four family unit mortgage loans)
from 1531 Gore Boulevard, Lawton, Oklahoma to 3130 Cache
Road, Suite 2, Lawton, Oklahoma, through its subsidiary,
Nationwide Financial Services Corporation (5/6/77) 3/
Citicorp, New York, New York, notification of intent to
engage in cte novo activities (making loans for the account of others such as one-to-four family unit mortgage
loans) at 117 S. Air Depot Boulevard, Midwest City,
Oklahoma, 2507 N.W. 23rd Steet, Oklahoma City, Oklahoma,
the Crossroads, 7000 Crossroads Boulevard, Oklahoma City,
Oklahoma and North Penn Plaza, 5641 N. Pennsylvania
Avenue, Oklahoma City, Oklahoma, through its subsidiary,
Nationwide Financial Services Corporation (5/4/77) 3/
Citicorp, New York, New York, notification of intent to
relocate de novo activities (making of consumer installment personal loans, purchasing consumer installment
sales finance contracts; sale of credit related life/
accident and health insurance; sale by a licensed agent
of insurance which protects personal property subject to
a security agreement with Nationwide Financial Corporation of Oklahoma, Inc.) from 2808 N. Pennsylvania Ave.,
Oklahoma City, Oklahoma, 4800 S. Western Avenue, Oklahoma
City, Oklahoma and 4520 N.W. 50th, Oklahoma City, Oklahoma
to 2507 N.W. 23rd Street, Oklahoma City, Oklahoma, the
Crossroads, 7000 Crossroads Boulevard, Oklahoma City,
Oklahoma and North Penn Plaza, 5641 N. Pennsylvania Avenue,
Oklahoma City, Oklahoma, respectively, through its subsidiary, Nationwide Financial Services Corporation
(5/4/77) 3/
37
4(c)(8) ad 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 19
13
APPLICATIONS RECEIVED-Continned
Midlantic Banks Inc., West Orange, New Jersey, notification
of intent to engage in de novo activities (leasing and
financing personal property and equipment, all such
leases to be on a full pay-out basis) at 95 Old Short
Hills Road, West Orange, New Jersey and 9 South Centre
Street, Merchantville, New Jersey, through its subsidiary, Midlantic Commercial Leasing Corp. (5/6/77) 3/
Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo
activities (leasing of real and personal property provided that at the inception of the initial lease the
effect of the transaction will be to yield a return that
will compensate the lessor for not less than its full
investment in the property over the term of the lease) at
Broad and Chestnut Streets, Philadelphia, Pennsylvania
and 1133 Avenue of the Americas, New York, New York,
through its direct and indirect subsidiary, Congress
Factors Corporation, at 1133 Avenue of the Americas, New
York, New York, through its direct and indirect subsidiary, Congress Financial Corporation and at 1401 Bricknell
Avenue, Miami, Florida, through its direct and indirect
subsidiary, Congress Financial Corporation, Florida
(4/29/77) 3/
Central National Bancshares, Inc., Des Moines, Iowa, for
approval to acquire 100 per cent of the voting shares of
First Kansas Financial, Inc., Wichita, Kansas (to engage
in the origination, selling and servicing of mortgage
loans and acting as insurance agent for the sale of
credit related insurance)
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other
extensions of credit such as would be made or acquired by
a finance company and servicing loans and other extensions
of credit, such activities will include, but not be
limited to, making consumer installment loans, purchasing
installment sales finance contracts, making loans and
other extensions of credit to small businesses, and
making loans secured by real and personal property;
acting as agent or broker for the sale of credit related
37
4(c)(8) and 4(c)(12)notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 19
- 14 APPLICATIONS RECEIVED-Continued
life and credit related accident and disability insurance
in connection with extensions of credit made or acquired
by FinaneeAmerica Corporation) at 306E South Ironton
Street, Aurora, Colorado, through its subsidiary, FinanceAmerica Corporation (a Colorado Corporation) (4/27/77)
2/
Fremont Bancorporation, Fremont, California, notification
of intent to engage in de novo activities (acting as an
insurance agent or broker for the purpose of providing
insurance to Fremont Bank, providing insurance that is
directly related to extensions of credit by a bank or
bank-related firm or is directly related to the provision
of other financial services by a bank) at 39150 Fremont
Boulevard, Fremont, California, 35880 Freemont Boulevard,
Fremont, California and 4948 Stevenson Boulevard, Fremont,
California, through its subsidiary, Appraisal Associates
(4/8/77) 3/
Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (making or acquiring, for its own account or for the account
of others, loans and extensions of credit including making consumer installment personal loans, purchasing
consumer sales finance contracts, making loans to small
businesses and other extensions of credit such as would
by made by a factoring company or a commercial finance
company; and acting as broker or agent for the sale of
credit-related life/accident and health insurance and
credit-related property and casualty insurance) at 80
South Lake Avenue, Pasadena, California, through its
subsidiary, Security Pacific Finance Corp. (4/27/77) 3/
Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (the
origination and acquisition of mortgage loans including
development and construction loans on multi-family and
commercial properties, for its own account or for the
sale to others and the servicing of such loans for others)
at 1700 West Loop South, Houston, Texas, through its subsidiary, Security Pacific Mortgage Corporation (4/28/77)
3/
37
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1977 No. 19
15 APPLICATIONS RECEIVED-Continued
For Certification Pursuant to the Bank Holding Company
Tax Act of 1976
304 Corporation, Omaha, Nebraska, to divest shares of
Industrial Loan and Investment Company, Omaha, Nebraska.
(Legal Division Docket No. TCR 76-140)
American General Insurance Company, Houston, Texas, to
divest shares of Texas Commerce Bancshares, Inc., Houston,
Texas. (Legal Division Docket No. TCR 76-141)
* * * * *
REPORTS RECEIVED
Registration Statement Filed Pursuant to Section 12(g)
of the Securities Exchange Act
Bank of Virginia Beach, Virginia Beach, Virginia.
Cape Cod Bank & Trust Company, Hyannis, Massachusetts
(Amendment #1) .
Metropolitan Bank of Central Virginia, Lynchburg,
Virginia.
* * * * *
Current Report Filed Pursuant to Section 13 of the
Securities Exchange Act
Citizens Commercial & Savings & Trust Co., Wheeling,
West Virginia.
* * * * *
Ownership Statement Filed Pursuant to Section 13(d) of the
Securities Exchange Act
Bank of the Commonwealth, Detroit, Michigan (Filed by the
First Arabian Corporation - Amendment /'!) ,
R.2, 1977 No. 19
- 16 PETITIONS FOR RULEMAKING
None.
@FedFRASER