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ANNOUNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1977 No. 46)
Actions of the Board; Applications and Reports
Received During the Week Ending November 12, 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.
The Board announced a modified program that calls for;
(1) a standardized "Report of Bank Holding Company
Inspection" to be used by all Reserve Banks in the
inspection of companies subject to the new program; and
(2) an annual inspection of most large bank holding
companies; the program becomes effective January 1,
1978.
Letter to Massachusetts State Banking Commissioner regarding an application to expand its exemption from the
Truth in Lending Act to include federally chartered
financial institutions.
Transfer of the two Texas counties of Burnet and Williamson
from the Head Office territory and the two Texas counties
of Bastrop and Refugio from the Houston Branch territory
to the territory of the San Antonio Branch.
American Bank of Rock Island, Rock Island, Illinois, proposed merger with First National Bank of Rock Island,
Rock Island, Illinois, report to the Comptroller of the
Currency on competitive factors.
First Oklahoma Bancorporation, Inc., Oklahoma City, Oklahoma,
request for an extension of time to comply with the
conditions and commitments set forth in the Board' s
Order of January 18, 1974.
Central Bancorporation, Inc., Cincinnati, Ohio, extension
of time to December 24, 1977, within which to acquire
the successor by merger to First National Bank of Mercer
County, Celina, Ohio. 1J
l 7 A p p l i c a t i o n processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 46
2
ACTIONS OF THE BOARD-Continued
Fort Worth Bancshares, Inc., Fort Worth, Texas, extension
of time to February 18, 1978, within which to consummate
the acquisition of Fort Worth Bank and Trust, Fort
Worth, Texas. 1/
Bank of Harpers Ferry, Harpers Ferry, West Virginia, to
make an investment in bank premises . 1J
State Savings Bank of West Branch, West Branch, Michigan,
extension of time to March 2, 1978, within which to
establish a branch in 620 Saginaw Street, Deep River
Township, Michigan. 1_/
Citibank, N.A., New York, New York, extension of time within which to establish branches in the United Arab Emirates,
to be located in Khor Fakkan, Sharjah; Fujairah; Aj am;
and Umm Al-Ouwain. 1/
Commercial and Farmers National Bank, Oxnard, California,
proposed merger with The Chartered Bank of London, San
Francisco, California, report to the Federal Deposit Insurance Corporation on competitive factors. 1/
HNB Bank, N.A., Pekin, Illinois, proposed merger with The
Herget National Bank of Pekin, Pekin, Illinois, report
to the Comptroller of the Currency on competitive factors.
1/
Indian Head National Bank of Portsmouth, Portsmouth, New
Hampshire, proposed merger with Indian Head National
Bank of Rochester, Rochester, New Hampshire, report to
the Comptroller of the Currency on competitive factors
1/
Michigan National Bank, Lansing, Michigan, four Port Huron
branches of, proposed acquisition by Michigan National
Bank-Port Huron, Port Huron, Michigan, report to the
Comptroller of the Currency on competitive factors. 1/
Mid-Jersey National Bank, Woodbridge Township, New Jersey,
proposed acquisition of Princeton Bank and Trust Company,
Princeton, New Jersey, report to the Federal Deposit Insurance Corporation on competitive factors. 1/
PBT Bank, National Association, Trenton, Michigan, proposed
merger with Peoples Bank and Trust, National Association,
Trenton, Michigan, report to the Comptroller of the
Currency on competitive factors. V
JL/
Application processed on behalf of the Board of Governors under delegated
authority.
H.2, 1977 No. 46
- 3 ACTIONS OF THE BOARD-Continued
Randolph Field Bank of Commerce, N.A., Universal City,
Texas, proposed merger with Randolph Field National
Bank, Universal City, Texas, report to the Comptroller
of the Currency on competitive factors. 1/
Southwest National Bank of Pennsylvania, Greensburg,
Pennsylvania, proposed consolidation with Fidelity
Deposit Bank of Derry, Derry, Pennsylvania, and The
First National Bank of Youngwood, Youngwood, Pennsylvania, report to the Comptroller of the Currency on
competitive factors. 1/
1./
Application processed on behalf of the Board of Governors under delegated
authority.
— 4 —
H.2, 1977 No. 46
ACTIONS OF THE BOARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
The Cleveland Trust Company, Cleveland, Ohio. Branch
to be established in the Great Northern Shopping Center,
North Olmsted, Cuyahoga County. 2/
The Oakwood Deposit Bank Company, Oakwood, Ohio. Branch
to be established at 100 South Main Street, Grover Hill,
Paulding County. 2/
Bank of Sturgeon Bay, Sturgeon Bay, Wisconsin. Branches
to be established at the following locations:
A.
Village of Egg Harbor, Door County.
B.
Unincorporated Village of Ellison Bay, Town of
Liberty Grove, Door County. 2/
United California Bank, Los Angeles, California. Branch
to be established in the vicinity of Lindbrook Drive and
Gaylev Avenue in the Westwood Village, Los Angeles. 2]
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
Approved
American Holding Company of Lindsay, Inc., Lindsay,
Oklahoma, for approval to acquire 80 per cent or more of
the voting shares of American Exchange Bank, Lindsay,
Oklahoma. 2/
Tipton Bancorporation, Inc., Tipton, Oklahoma, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of The First National
Bank of Tipton, Tipton, Oklahoma.
2 ? A p p l i c a t i o n processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
H. 2, 1977 No. 46
- 5 ACTIONS OF THE BOARD-Continued
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
Approved
First National Boston Corporation, Boston, Massachusetts,
for approval to acquire 100 per cent of the voting
shares of the successor by merger to Blackstone Valley
National Bank, Whitinsville, Massachusetts.
Hawkeye Bancorporation, Des Moines, Iowa, for approval to
acquire indirectly 98.3 per cent of the voting shares of
Morningside State Bank, Sioux City, Iowa.
The Wyoming National Corporation, Casper, Wyoming, for
approval to acquire 81 per cent or more of the voting
shares of Wyoming Bank of Rawlins, Rawlins, Wyoming, a
proposed new bank. 2/
* * a * A
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
Withdrawn
Correction:
On H.2 #39 a notification by Industrial National Corporation to engage in (residential mortgage lending and
servicing; consumer finance; and issuance of credit life
and credit accident and health insurance activities) at
522 Seventh Street, Racine, Wisconsin, through a subsidiary, Amortized Mortgages, Inc., a subsidiary of Mortgage Associates, Inc. was withdrawn incorrectly. The
activity should have read (consumer finance) (9/15/77)
1/
Reactivated
First Maryland Bancorp, Baltimore, Maryland, notification
of intent to engage in de novo activities (acting as
insurance agent or broker in the sale of credit accident
and health insurance and credit life insurance related
to loans and other extensions of credit by First Maryland
Bancorp or any of its bank, bank-related or nonbank
affiliates and of other insurance to protect the collateral in which First Maryland Bancorp or any of its bank,
2/
3/
Application processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
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. 46
-
6
ACTIONS OF THE BOARD-Continued
bank-related or nonbank affiliates has a security interest) in Aberdeen, Abingdon, Annapolis, Baltimore, Bel
Air, Bethesda, Brooklyn, Columbia, Edgewood, Ellicott
City, Gaithersburg, Germantown, Glen Burnie, Hagerstown,
Kensington, Poolesville, Rockville, Salisbury, Severna
Park, Twinbrook, and Wheaton, Maryland, through a subsidiary, First Maryland Agency Incorporated (11/9/77) 3/
First Maryland Bancorp, Baltimore, Maryland, notification
of intent to engage in de novo activities (acting as
insurance agent or broker in the sale of credit accident
and health insurance and credit life insurance related
to loans and other extensions of credit by First Maryland
Bancorp, or any of its bank, bank-related or nonbank
affiliates, and to other insurance to protect the collateral in which First Maryland Bancorp or any of its bank,
bank-related or nonbank affiliates has a security interest) in the following locations in Baltimore County:
Cantonsville, Dundalk, Edgemere, Ingleside, Lutherville,
Parkville, Parkton, Pikesville, Overlea, Reisterstown,
Rosedale, Ruxton, Towson, and Woodlawn, Maryland, through
a subsidiary, First Maryland Agency Incorporated (11/9/77) 3/
Virginia National Bankshares, Inc., Norfolk, Virginia,
notification of intent to engage in de. novo activities
(acting as insurance agent or broker in offices at which
the holding company or its subsidiaries are otherwise
engaged in business with respect to any insurance that
is directly related to an extension of credit by a bank
or a bank related firm or is directly related to the
provision of other financial services by a bank or such
bank related firm to protect the value of assets financed,
leased, such as homeowners, fire, theft and other perils,
comprehensive, collision, marine and liability when sold
as part of an otherwise permissible package) at various
locations in Virginia, through its subsidiary, VNB
Insurance Agency, Inc. (11/10/77) 3/
Permitted
Correction:
On H.2 #41 a notification by Industrial National Corporation to engage in (origination and sale of residential
mortgages; consumer finance; servicing of residential
mortgage loans; and issuance of credit life and credit
accident and health insurance activities) at 522 Seventh
Street, Racine, Wisconsin, through a subsidiary, Amortized
Mortgages, Inc., a subsidiary of Mortgage Associates,
Inc. was permitted incorrectly. The activity should
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. 46
- 7 ACTIONS OF THE BOARD-Continued
have read (origination and sale of residential mortgages;
servicing of residential mortgage loans and issuance of
credit life and credit accident and health insurance
activities (10/5/77) 3/
Chemical New York Corporation, New York, New York, notification of intent to engage in de novo activities (leasing real and personal property and equipment on a nonoperating, full payout basis and acting as agent, broker,
and adviser with respect to such leases; financing real
and personal property and equipment such as would be
done by a commercial finance company; and servicing such
extensions of credit) at 7 Corporate Park Drive, White
Plains, New York, through its wholly-owned subsidiary,
ChemLease, Inc. (11/11/77) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (group and individual
credit related life insurance and accident and health
insurance to cover the outstanding balances of loans by
Advance Mortgage Corporation to borrowers, generally
mortgagors of improved real property in the event of
their death, or, to make the contractual payments on the
loans in the event of the borrower's disability) at
Georgetown Plaza, 4481 West 38th Street, Indianapolis,
Indiana, through its subsidiaries, Advance Agency, Inc.
and Advance Life, Inc. (11/10/77) 3/
Continental Illinois Corporation, Chicago, Illinois, notification of intent to relocate de novo activities (acting as investment advisor and manager of Continental
Illinois Properties, a publicly held real estate investment trust ("Trust"), in which capacity it will continue to, among other activities, obtain or provide for
the Trust such services as may be required to supervise,
service or manage the existing investments of the Trust;
represent the Trust in transactions with others; originate
and recommend to the Trust investments in the form of
permanent mortgage loans, equity interest in real estate,
and other investments in or related to real property and
advise and consult with Trustees of the Trust) from
Broadway Plaza Tower, Suite 1500, 700 Flower Street to
505 City Parkway West, Suite 300, Orange, California,
through its subsidiary, Continental Illinois Properties
Advisors, Inc. (11/12/77) V
Continental Illinois Corporation, Chicago, Illinois, notification of intent to relocate de novo activities (acting as investment advisor and manager of Continental
Illinois Realty, a publicly held real estate investment
trust ("Trust"), in which capacity it will continue to,
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. 46
— 8 —
ACTIONS OF THE BOARD-Continued
among other activities, obtain or provide for the Trust
such services as may be required to supervise, service
or manage the existing investments of the Trust; represent the Trust in transactions with others; originate
and recommend to the Trust investments in the form of
construction mortgage loans, permanent mortgage loans,
equity interest in real estate, and other investments in
or related to real property and advise and consult with
Trustees of the Trust) from Broadway Plaza Tower, Suite
1500, 700 Flower Street to 505 City Parkway West, Suite
300, Orange, California, through its subsidiary, Continental Illinois Realty Advisors, Inc. (11/12/77) 3/
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
life and credit-related accident and disability insurance
in connection with extensions of credit made or acquired
by FinanceAmerica Corporation) at 3015 North Cole Road,
Boise, Idaho, through its indirect subsidiary, FinanceAmerica Corporation, (an Idaho Corporation) (11/7/77) 3/
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
life and credit-related accident and disability insurance
in connection with extensions of credit made or acquired
by FinanceAmerica Corporation) at 3001 Henderson Drive,
Cheyenne, Wyoming, through its indirect subsidiary, FinanceAmerica Corporation (a Wyoming Corporation) (11/12/77)
2/
3/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
- 9 -
H.2, 1977 No. 46
ACTIONS OF THE BOARD-Continued
U. S. Bancorp, Portland, Oregon, notification of intent to
engage in de novo activities (leasing of personal property and equipment and acting as agent, broker, or
adviser in the leasing of such property) at 302 State
Street, Salem, Oregon, through its subsidiary, Bancorp
Leasing, Inc. (11/10/77) 3/
Approved
Southwest Florida Banks, Inc., Fort Myers, Florida, for
approval to engage de novo through Southwest Financial
Services, Inc., Fort Myers, Florida in the activity of
acting as insurance agent with respect to credit life
and credit health and accident insurance that is directly
related to extensions of credit by Applicant's subsidiary, First National Bank and Trust Company of Naples,
Naples, Florida.
Investment Managment, Inc., Bettendorf, Iowa, for approval
to retain 50 per cent of the voting shares of Lloyd's
Plan, Inc., Davenport, Iowa.
River Cities Investment Co., Bettendorf, Iowa, for approval to retain 50 per cent of the voting shares of
Lloyd's Plan, Inc., Davenport, Iowa.
*
* * * *
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
The Jacobus Company, Wauwatosa, Wisconsin ("Jacobus");
prior certification that the proposed divestiture of all
common stock of Inland Heritage Corporation, Milwaukee,
Wisconsin, presently held by Jacobus is necessary or
appropriate to effectuate the policies of the Bank
Holding Company Act. (Legal Division Docket No. 76-138)
*/
3/
*/
4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
Processed on behalf of the Board of Governors under delegated authority.
H.2, 1977 No. 46
- 10 APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Peoples Bank of Danville, Danville, Virginia. Branch
to be established at 150 Westover Drive, Danville.
Bank of Florida, St. Petersburg, Florida. Branch to
be established at the southwest corner of 4th Street and
38th Avenue, North, St. Petersburg.
Citizens Bank & Trust Company, Campbellsville, Kentucky.
Branches to be establised at the following locations:
A.
1307 East Broadway, Elmhurst Plaza Shopping Center,
Campbellsville, Taylor County.
B.
Main Street, Mannsville, Taylor County.
* * * * *
To Become a Member of the Federal Reserve System
Pursuant to Section 9 of the Federal Reserve Act
The Bank of West Point, West Point, Virginia.
* * * * *
To Form a Bank Holding Company Pursuant to Section
3(a)(1) of the Bank Holding Company Act of 1956
NBT Financial Corporation, Traverse City, Michigan, for
approval to acquire 100 per cent of the voting shares
(less directors' qualifying shares) of the successor by
merger to National Bank and Trust Company of Traverse
City, Traverse City, Michigan.
Old Capitol Bancorporation, Inc., Vandalia, Illinois, for
approval to acquire 80 per cent of the voting shares of
The Farmers and Merchants Bank of Vandalia, Vandalia,
Illinois.
11
H.2, 1977 No. 46
APPLICATIONS RBCEIVED-Continued
Dakota Bankshares, Inc., Fargo, North Dakota, for approval to acquire 90.3 per cent of the voting shares of
The Dakota National Bank and Trust Co. of Fargo, Fargo,
North Dakota.
First National McCook Company, McCook, Nebraska, for
approval to acquire 99-1/3 per cent (less directors ?
qualifying shares) of the voting shares of The First
National Bank of McCook, McCook, Nebraska.
Hydro Bancshares, Inc., Hydro, Oklahoma, for approval to
acquire 98.9 per cent (less directors 1 qualifying shares)
of the voting shares of Bank of Hydro, Hydro, Oklahoma.
Rock Creek Bancshares, Inc., Burlington, Kansas, for approval to acquire 80 per cent or more of the voting
shares of The Peoples National Bank and Trust Company of
Burlington, Burlington, Kansas.
*
*
*
*
*
To Expand a Bank Holding Company Pursuant to Section
3(a)(3) of the Bank Holding Company Act of 1956
First National Charter Corporation, Kansas City, Missouri,
for approval to acquire 80 per cent or more of the
voting shares of Farmers State Bank of Lockwood, Lockwood, Missouri.
* * * * *
To Expand a Bank Holding Company Pursuant to Section
4(c)(8) of the Bank Holding Company Act of 1956
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 Citicorp Person-toPerson Financial Center, Inc.) and to engage de novo in
the following additional activity (making loans to
individuals and businesses secured by real and personal
property, the proceeds of which may be for purposes
H.2, 1977 No. 46
12
APPLICATIONS RECEIVED-Continued
other than personal, family, or household usage; and the
sale of credit related life/accident and health insurance related to such loans; if these proposals are
effected, a licensed agent will offer to sell credit
related life/accident, health, or decreasing or level
(in the case of single payment loans) term life insurance to cover the outstanding balances of credit transactions (singly or jointly with co-signers in the case
of life coverage) in the event of death, or, to make the
contractual monthly payments on the credit transactions
in the event of the obligator's disability to the extent
permissible under applicable State insurance laws and
regulations; credit related decreasing term life insurance
and accident and health insurance may be reinsured by
Gateway Life Insurance Company, an affiliate of Citicorp
Person-to-Person Financial Center, Inc.; further, in
regard to the sale of credit related insurance, the
subsidiary does not act as a general insurance agency)
from 111 W. Broadway, Muskogee, Oklahoma to 742 N. York
Street, Muskogee, Oklahoma, through its subsidiary,
Citicorp Person-to-Person Financial Center, Inc. (11/7/77)
3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making consumer installment personal loans, making of loans to individuals and
businesses secured by real and personal property, the
proceeds of which may be for purposes other than personal,
family or household usage; and the sale of credit related
life/accident and health insurance related to such
loans; if these proposals are effected, a licensed
agent will offer to sell credit related life/accident
and health, or decreasing or level (in the case of
single payment loans), term life insurance to cover the
outstanding balances of credit transactions (singly or
jointly wich co-signers in the case of life coverage) in
the event of death, or, to make the contractual monthly
payments on credit transactions in the event of obligator's
disability to the extent permissible under applicable
State insurance laws and regulations; credit related
decreasing term life insurance and accident and health
insurance may be reinsured by Gateway Life Insurance
Company, an affiliate of Nationwide Financial Corporation;
3J
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. 46
13 APPLICATIONS RECEIVED-Continued
further, in regard to the sale of credit related insurance, the subsidiary does not act as a general
insurance agency) at 5313 50th Street, Building B, Suite
5, Lubbock, Texas and 1456 Ellis Avenue, Suite 107,
Jackson, Mississippi, through its subsidiary, Nationwide
Financial Corporation (11/10/77) 3/
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities
(acting as insurance agent or broker for the sale of
credit life and credit accident and health insurance
related to loans and other extensions of credit such as
would be made by a mortgage company which are made,
acquired or serviced by Citizens Mortgage Corporation
for its own account or for the account of others) at
24800 Northwestern Highway, Southfield, Michigan,
through an indirect subsidiary, Citizens Insurance
Agency, Inc. (11/10/77) 37
New Jersey National Corporation, Trenton, New Jersey, notification of intent to continue to engage in cle novo
activities (making, acquiring, selling and servicing for
its own account or the account of others, loans and
other extensions of credit principally secured by mortgages; selling credit life/accident and health insurance
related to the mortgage loan servicing and extensions of
credit in connection with the mortgage loans made pursuant
to Underwood f s mortgage servicing and lending business;
and, such incidental activities as are necessary to
carry on the activities specified) at Texas Avenue and
Route 1, Lawrence, TWP., New Jersey, through its direct
subsidiary, Underwood Mortgage and Title Co. (11/4/77)
3/
Maryland National Corporation, Baltimore, Maryland, notification of intent to engage in de novo activities
(engaging generally in commercial lending operations
including, but not limited to, financing of accounts
receivable, inventories, and other types of secured and
unsecured loans to commercial enterprises; servicing
commercial loans for affiliated or nonaffiliated individuals, partnerships, or corporations; and acting as
advisor or broker in commercial lending transactions) at
300 East Joppa Road, Towson, Maryland and Suite 430, 707
East Main Street, Richmond, Virginia, through its subsidiary, Maryland National Industrial Finance Corporation (11/9/77) 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. 46
14
APPLICATIONS RECEIVED-Continued
Fulcorp, Inc., Atlanta, Georgia, for approval to acquire
shares of FORPAK Investment Company, Forest Park,
Georgia.
Rainier Bancorporation, Seattle, Washington, 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
the making of consumer installment loans, purchasing
consumer installment sales finance contracts, and making
of loans to small businesses; leasing personal property
and equipment or acting as agent, broker, or adviser in
such leasing where at the inception of the initial lease
(and, with respect to governmental entities only, reasonably anticipated future transactions) will yield a
return that will compensate the lessor for not less
than the lessor T s full investment in the property plus
the estimated total cost of financing the property over
the term of the lease as authorized by the Federal
Reserve Board under Section 225.4(a)(6)(a) of Regulation
Y; and acting as insurance agent or broker with regard
to credit life and disability insurance relating only to
extensions of credit by Rainier Credit Company, secured
or unsecured, with the limitation that the initial
amount of such insurance issued with respect to any
debtors may at no time exceed the amount owed by debtors
and with regard to consumer credit-related property and
casualty insurance on personal property subject to
security agreements with Rainier Credit Company) at 7207
Evergreen Way, Everett, Washington, through its subsidiary, Rainier Credit Company (11/3/77) 3/
Security Pacific Corporation, Los Angeles, California, notification of intent to relocate 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 installment sales finance contracts,
making loans to small businesses and other extensions of
credit such as would be made by a factoring company or a
consumer 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) from 125 West 2nd Street to 2121 East 2nd
Street, Casper, Wyoming, through its subsidiary, The
Bankers Investment Company d/b/a Security Pacific Finance
Corp. (10/31/77) 2/
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. 46
15 APPLICATIONS RECEIVED-Continued
To Expand a Bank Holding Company Pursuant to Section
4(c)(12) of the Bank Holding Company Act of 1956
Garable-Skogmo, Inc., Minneapolis, Minnesota, notification
of intent to acquire, through a direct subsidiary, all
of the issues and outstanding stock of Lumac Leasing,
Inc., Minneapolis, Minnesota (11/10/77) 3/
* * * * *
REPORTS RECEIVED
Current Report Filed Pursuant to Section 13 of the
Securities Exchange Act
The Oberlin Savings Bank Company, Oberlin, Ohio.
The Schenectady Trust Company, Schenectady, New York.
* * * * *
PETITIONS FOR RULEMAKING
None.
3/
4(c)(8) and 4(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
@FedFRASER