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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM ( H . 2 , 1980 No. 4 6 ) A c t i o n s of t h e Board; A p p l i c a t i o n s and Reports Received During t h e Wedc Ending November 15, 1980 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD I n c r e a s e i n t h e b a s i c d i s c o u n t r a t e from 11 percent to 12 p e r c e n t and a d o p t i o n of a surcharge of 2 p e r c e n t a g e p o i n t s on frequent use of t h e d i s c o u n t window by l a r g e borrowers; e f f e c t i v e Monday, November 17, 1980. Adoption of r u l e s r e v i s i n g p r o v i s i o n s of R e g u l a t i o n K g r a n t ing t h e Board's g e n e r a l consent f o r member banks, Edge and Agreement C o r p o r a t i o n s and bank h o l d i n g companies t o make c e r t a i n a d d i t i o n a l i n v e s t m e n t s in o r g a n i z a t i o n s i n which they a l r e a d y have an i n t e r e s t . (Docket No. R-0290) Dallas American Independent B a n c s h a r e s , I n c . , A l t a Loma, T e x a s , e x t e n s i o n of time to December 13, 1980, w i t h i n idiich to c o n summate the a c q u i s i t i o n of Bank o f Santa F e , Alt a Loma, T e x a s . JL/ New York C a r t e r e t Bancorp, I n c . , C a r t e r e t , New J e r s e y , e x t e n s i o n of time t o February 3 , 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of C a r t e r e t Bank and Trust Company, C a r t e r e t , New J e r s e y . J 7 Chicago Cary/Grove Bancorp, I n c . , Cary, I l l i n o i s , e x t e n s i o n of time t o February 1 1 , 1981, w i t h i n which to become a bank h o l d ing company through the a c q u i s i t i o n of 80 percent or more of t h e v o t i n g s h a r e s of Suburban Bank o f Cary-Grove, Cary, Illinois. JL/ Chicago ELK GROVE BANCORP, INC., Elk Grove V i l l a g e , I l l i n o i s , e x t e n s i o n of time t o February 1 1 , 1981, w i t h i n vfaich to become a bank h o l d i n g company through the a c q u i s i t i o n of 80 p e r cent o r more of t h e v o t i n g s h a r e s of Suburuban N a t i o n a l Bank o f Elk Grove V i l l a g e , Elk Grove V i l l a g e , I l l i n o i s . J1/ 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d aut hori t y . H . 2 , 1980 No. 46 - 2 - ACTIONS OF THE BOARD-Continued Chicago F i r s t Decatur B a n c s h a r e s , I n c . , D e c a t u r , I l l i n o i s , e x t e n s i o n of time to January 3, 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 percent of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger to The F i r s t N a t i o n a l Bank o f D e c a t u r , D e c a t u r , I l l i n o i s . Kansas C i t y Mountain Banks, L t d . , Denver, C o l o r a d o , e x t e n s i o n of time t o March 27, 1981, w i t h i n which to consummate the a c q u i s i t i o n o f Chapel H i l l s N a t i o n a l Bank, Colorado S p r i n g s , Colorado. 1/ Chicago N a t i o n a l B a n c o r p o r a t i o n , I n c . , T r a v e r s e C i t y , Michigan, e x t e n s i o n of time t o March 3, 1981, w i t h i n v*tich to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 percent of t h e v o t i n g s h a r e s of the s u c c e s s o r by merger to N a t i o n a l Bank and Trust Company, T r a v e r s e C i t y , Michigan. J7 Atlanta Southern Bank Holding Company, of time to February 15, 1981, bank h o l d i n g company through and Trust Company, Savannah, Chicago SUBPAL BANCORP, INC., P a l e s t i n e , I l l i n o i s , e x t e n s i o n of time to February 11, 1981, w i t h i n which to become a bank h o l d ing company through the a c q u i s i t i o n of 51 p e r c e n t or more of t h e v o t i n g s h a r e s of Suburban N a t i o n a l Bank of P a l e s t i n e , Palestine, I l l i n o i s . J ] Chicago WOODFIELD BANCORP, INC., Schaumburg, I l l i n o i s , e x t e n s i o n of time to February 1 1 , 1981, w i t h i n which to become a bank h o l d i n g company through a c q u i s i t i o n of 80 percent or more of the v o t i n g s h a r e s of Suburban N a t i o n a l Bank o f W o o d f i e l d , Sch aumburg, I l l i n o i s . If Chicago Y o r k v i l l e B a n c s h a r e s , I n c . , Y o r k v i l l e , I l l i n o i s , e x t e n s i o n of time t o January 19, 1981, w i t h i n which to become a bank h o l d i n g company through the a c q u i s i t i o n of 8 1 . 9 p e r c e n t or more of t h e v o t i n g s h a r e s of The Y o r k v i l l e N a t i o n a l Bank, Y o r k v i l l e , I l l i n o i s . JL/ Chicago Wayne Bank and Trust C o . , Cambridge C i t y , I n d i a n a , e x t e n s i o n of time to December 6, 1981, w i t h i n which to e s t a b l i s h a branch a t 1100 C h e s t e r B o u l e v a r d , Spring Grove, Wayne County, I n d i a n a . 1/ 1/ Savannah, G e o r g i a , e x t e n s i o n w i t h i n vhich to become a a c q u i s i t i o n of Southern Bank G e o r g i a . 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. H. 2 , 1980 No. 46 - 3 ACTIONS OF THE BOARD-Cont inued San Francisco V a l l e y Bank of Nevada, Las Vegas, Nevada, ( 1 ) e x t e n s i o n of time t o June 4 , 1981, w i t h i n vrtiich to e s t a b l i s h a branch o f f i c e at the i n t e r s e c t i o n of Green V a l l e y Parkway and Sunset Road, Henerson, Nevada; and ( 2 ) e x t e n s i o n of t i m e to June 15, 1981, w i t h i n which to e s t a b l i s h a branch o f f i c e 900 f e e t north of Las Vegas Drive on t h e west s i d e of Decatur B o u l e v a r d , Las Vegas, Nevada. JL/ New York American N a t i o n a l Bank and Trust Company of New J e r s e y , Morristown, New J e r s e y , p r o p o s a l to merge C i t i z e n s ' Bank, N a t i o n a l A s s o c i a t i o n , Bloomsbury, New J e r s e y ; r e p o r t to the Comptroller of the Currency on c o m p e t i t i v e f a c t o r s . 1/ At l a n t a Bay S p r i n g s Bank, Bay S p r i n g s , M i s s i s s i p p i , p r o p o s a l t o merge F i r s t C i t i z e n s Bank and Trust Company, P o p l a r v i l l e , M i s s i s s i p p i ; r e p o r t to t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n on c o m p e t i t i v e f a c t o r s . \J At lant a Commerce N a t i o n a l Bank o f Warner Robins, Warner Robins, G e o r g i a , p r o p o s a l t o merge Commerce N a t i o n a l I n t e r i m Bank of Warner Robins, Warner Robins, Georgia; r e p o r t t o the Comptroller of the Currency on c o m p e t i t i v e f a c t o r s . \J Dal l a s Gulfway Commerce Bank, N . A . , Corpus C h r i s t i , T e x a s , proposal t o merge Gulfway N a t i o n a l Bank o f Corpus C h r i s t i , Te x a s; r e p o r t to t h e Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . JL/ Dallas M e r c a n t i l e Commerce Bank, N.A, Corpus C h r i s t i , T e x a s , p r o p o s a l to merge The M e r c a n t i l e N a t i o n a l Bank o f Corpus C h r i s t i , T e x a s ; r e p o r t to the Comptroller of the Currency on c o m p e t i t i v e f a c t o r s . JL/ Chicago Moline N a t i o n a l Bank, M o l i n e , I l l i n o i s , p r o p o s a l to merge Republic N a t i o n a l Bank o f M o l i n e , M o l i n e , I l l i n o i s , under the c h a r t e r and t i t l e of M o l i n e N a t i o n a l Bank, M o l i n e , I l l i n o i s ; r e p o r t to t h e Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . JL/ Dallas New Texoma N a t i o n a l Bank of Sherman, Sherman, T e x a s , p r o p o s a l to merge w i t h Texoma N a t i o n a l Bank o f Sherman, Sherman, Texas; r e p o r t to t h e Comptroller of t h e Currency on competi t i v e f a c t o r s . JL/ 1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. H.2, 1980 No. 46 - 4 ACTIONS OF THE BOARD-Continued To Merge Pursuant to S e c t i o n 1 8 ( c ) of the Federal D e p o s i t Insurance Act Richmond Approved F i r s t V i r g i n i a Bank-South C e n t r a l , Brookneal, V i r g i n i a , t o merge w i t h The Farmers and Merchants Bank, I n c . of Amherst, Amherst, V i r g i n i a . 1/ & 2/ * * * * * A p p l i c a t i o n s and N o t i f i c a t i o n s for I n t e r n a t i o n a l I n v e s t ments and Other A c t i o n s Pursuant to S e c t i o n s 25 and 2 5 ( a ) of t h e F e d e r a l Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of the Bank Holding Company Act of 1956, as- amended Boston San Franci s c o Approved New England Merchants Bank I n t e r n a t i o n a l , Boston, M a s s a c h u s e t t s g r a n t s p e r m i s s i o n to amend A r t i c l e s , T h i r d , Fourth, and S i x t h of i t s A r t i c l e s o f A s s o c i a t i o n t o permit a change of home o f f i c e l o c a t i o n from Boston, M a s s a c h u s e t t s to Miami, F l o r i d a and to r e f l e c t t h a t NEMBI's r e g u l a r annual meeting s h a l l be h e l d at such s i t e as the d i r e c t o r s deem c o n v e n i e n t . Bank o f C a l i f o r n i a I n t e r n a t i o n a l , New York, New York: g r a n t s p e r m i s s i o n to amend A r t i c l e s "Third" and "Ninth" of the A r t i c l e s o f A s s o c i a t i o n to change the l o c a t i o n of E d g e ' s home o f f i c e from New York, New York to San F r a n c i s c o , C a l i f o r n i a ; to r e t a i n the o f f i c e i n New York, New York as a branch l o c a t i o n ; and t o e l i m i a t e the p r o v i s i o n t h a t a l l d i r e c t o r s of Edge be c i t i z e n s of t h e United S t a t e s . * * * * * To E s t a b l i s h an Overseas Branch of a Member Bank Pursuant t o S e c t i o n 25 of t h e F e d e r a l Reserve Act New York 1/ 2/ ~~ Approved Morgan Guaranty I n t e r n a t i o n a l Bank, Miami, F l o r i d a : grants p e r m i s s i o n to e s t a b l i s h a branch i n Nassau, Bahamas. A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authori ty. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d -c t-o t-h*> l e n g t h of the comment p e r i o d . H . 2 , 1980 No. 46 - 5 ACTIONS OF THE BOARD-Continued To O r g a n i z e , o r I n v e s t i n , a C o r p o r a t i o n Doing F o r e i g n Banking and Other F o r e i g n F i n a n c i n g Pursuant t o S e c t i o n 25 or 2 5 ( a ) of t h e F e d e r a l Reserve Act Chicago Approved The F i r s t N a t i o n a l Bank o f Chicago, C h i c a g o , I l l i n o i s : g r a n t s c o n s e n t to e s t a b l i s h a new Edge C o r p o r a t i o n to be known as F i r s t Chicago I n t e r n a t i o n a l , C h i c a g o , I l l i n o i s and t o e s t a b l i s h and o p e r a t e branches in B o s t o n , M a s s a c h u s e t t s ; Houston, T e x a s ; Los A n g e l e s , C a l i f o r n i a ; New York, New York; San F r a n c i s c o , C a l i f o r n i a ; and Miami, F l o r i d a . * * * * * To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) o f the Bank Holding Company Act of 1956 Boston Approved S e c u r i t y Bancorp, I n c . , Boston, M a s s a c h u s e t t s , for approval t o a c q u i r e 100 percent of the v o t i n g s h a r e s of S e c u r i t y N a t i o n a l Bank, Lynn, M a s s a c h u s e t t s . 2 / Cleveland Pennbancorp, T i t s u v i l l e , P e n n s y l v a n i a , f o r approval t o a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The P e n n s y l v a n i a Bank and Trust Company, Warren, P e n n s y l v a n i a and i n d i r e c t l y a c q u i r e 5 . 0 1 percent of t h e v o t i n g s h a r e s o f Bucks County Bank and Trust Company, P e r k a s i e ; 6 . 9 p e r c e n t of the v o t i n g s h a r e s of E as ton N a t i o n a l Bank and Trust Company, Eas ton; 1 0 . 0 p e r c e n t of the v o t i n g s h a r e s of The M o r r i s v i l l e Bank, M o r r i s v i l l e ; 7 . 8 percent of t h e v o t i n g s h a r e s of S o u t h e a s t N a t i o n a l Bank, C h e s t e r ; 8 . 2 percent of the v o t i n g s h a r e s of Third N a t i o n a l Bank and Trust Company, Scranton; and 6 . 0 percent of the v o t i n g s h a r e s of W i l l i a m s p o r t N a t i o n a l Bank, Wil l i amsport, a l l i n P e n n s y l v a n i a . 2 / Atlanta Altamaha B a n c s h a r e s , I n c . , Uvalda, G e o r g i a , f o r approval t o a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of Alt amaha Bank and Trust Company, Uvalda, G e o r g i a . 1/ & 2/ 1/ 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H . 2 , 1980 No. 46 6 - ACTIONS OF THE BOARD-Cont inued Atlanta American Bank C a p i t a l C o r p o r a t i o n , S t u a r t , F l o r i d a , f o r approval to a c q u i r e 80 percent or more of t h e v o t i n g s h a r e s of American Bank o f Martin County, S t u a r t , F l o r i d a . _1/ & 2] Atlanta FIRST STATE FINANCIAL CORPORATION, G u l p o r t , M i s s i s s i p p i , for approval to a c q u i r e at l e a s t 80 p e r c e n t of the v o t i n g s h a r e s o f F i r s t S t a t e Bank, Gulf p o r t , M i s s i s s i p p i . _1/ & 2/ Atlanta Hardwick Holding Company, D a l t o n , G e o r g i a , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of Hardwick Bank & Trust Company, D a l t o n , G e o r g i a . V & 2/ Atlanta M.B. Group, I n c . , Marathon, F l o r i d a , for approval to a c q u i r e a t l e a s t 82 percent of the v o t i n g s h a r e s of The Marathon Bank, Marathon, F l o r i d a . 1/ & 2 / Atlanta P & C Bank S h a r e s , I n c . , C a m i l l a , G e o r g i a , f o r approval to a c q u i r e 5 3 . 7 3 percent of t h e v o t i n g s h a r e s of P l a n t e r s & C i t i z e n s Bank, C a m i l l a , G e o r g i a . 1/ & 2/ At l a n t a Southwest G e o r g i a F i n a n c i a l C o r p o r a t i o n , M o u l t r i e , G e o r g i a , f o r approval to a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s o f M o u l t r i e N a t i o n a l Bank, M o u l t r i e , G e o r g i a . _!/ & 2J Chicago Ankeny Investment C o . , Webster C i t y , Iowa, f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h r e s of Ankeny S t a t e Bank, Ankeny, Iowa. \J & 2J Chicago G a r r e t t Bancshares LTD., B l o o m f i e l d , Iowa, for approval t o a c q u i r e at l e a s t 80 percent of the v o t i n g s h a r e s of Davis County S a v i n g s Bank, B l o o m f i e l d , Iowa. 1/ & 2 / Chicago KENNEDY BANCSHARES, INC., B a n c r o f t , Iowa, f o r approval t o a c q u i r e 88 percent of t h e v o t i n g s h a r e s o f Farmers and Merchants S a v i n g s Bank, B a n c r o f t , Iowa. \ j & 2/ Chicago Moore F i n a n c i a l C o r p o r a t i o n , Berwyn, I l l i n o i s , for approval t o a c q u i r e 8 5 . 1 2 p e r c e n t of the v o t i n g s h a r e s of Commercial N a t i o n a l Bank o f Berwyn, Berwyn, I l l i n o i s . JL/ & If Chicago S & H HOLDINGS, INC., I r o q u o i s , I l l i n o i s , f o r approval to a c q u i r e a t l e a s t 9 4 . 5 percent of t h e v o t i n g s h a r e s of I r o q u o i s Farmers S t a t e Bank, I r o q u o i s , I l l i n o i s . 1 / & 2/ JL/ 2j A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . 1 H.2, 1980 No. 46 - 7 ACTIONS OF THE BOARD~Cont inued St. Louis Owenton Bancorp, I n c . , Owenton, Kentucky, f o r approval t o a c q u i r e 80 percent of t h e v o t i n g s h a r e s of P e o p l e s Bank & Trust Company, Owenton, Kentucky. JL/ & 2/ Minneapolis F r e e p o r t B a n c s h a r e s , I n c . , F r e e p o r t , M i n n e s o t a , for approval t o a c q u i r e at l e a s t 8 0 . 5 p e r c e n t of the v o t i n g s h a r e s o f F r e e p o r t S t a t e Bank, F r e e p o r t , M i n n e s o t a . _1/ & 2/ Minneapolis Norwood Bancshares, I n c . , Norwood, Minnesota, f o r approval to a c q u i r e a t l e a s t 8 8 . 9 percent of t h e v o t i n g s h a r e s of C i t i z e n s S t a t e Bank o f Norwood, Norwood, Minnesota. 1/ & 2/ Kansas C i t y Bridgeport S t a t e Company, B r i d g e p o r t , Nebraska, f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The B r i d g e port S t a t e Bank, B r i d g e p o r t , Nebraska. JL/ & _2/ Kansas C i t y Central Nebraska Bankshares, I n c . , Broken Bow, Nebraska, f o r approval to a c q u i r e 98 p e r c e n t of the v o t i n g s h a r e s of S e c u r i t y S t a t e Bank, Broken Bow, Nebraska. 1/ & 2 / Kansas C i t y Columbus C o r p . , Columbus, Kansas, f o r approval to a c q u i r e 8 2 . 5 percent of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank o f Columbus, Columbus, Kansas. JL/ & 7 j Kansas C i t y Farmers B a n c s h a r e s , I n c . , L i n c o l n , Kansas, for approval t o a c q u i r e 8 5 . 2 percent of the v o t i n g s h a r e s of The Farmers N a t i o n a l Bank of L i n c o l n , L i n c o l n , Kansas. J / & 2/ Kansas C i t y F i r s t Chattanooga C o r p o r a t i o n , Chattanooga, Oklahoma, f o r approval to a c q u i r e 8 1 . 3 percent of t h e v o t i n g s h a r e s of The F i r s t Bank o f Chattanooga, Chattanooga, Oklahoma. JL/ & 2 / Kansas C i t y F i r s t S t a t e B a n c o r p o r a t i o n of Watonga, I n c . , Watonga, Oklahoma, for approval to a c q u i r e a t l e a t 80 percent of the v o t i n g s h a r e s of F i r s t S t a t e Bank, Watonga, Oklahoma. 1/ & 2 / JL/ 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1980 No. 46 - 8 ACTIONS OF THE BOARD-Continued Kansas C i t y F i r s t Western B a n c o r p o r a t i o n , La J a r a , Colorado, f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank o f La J a r a , La J a r a , C o l o r a d o . J L / & 2/ Kansas C i t y Jones N a t i o n a l C o r p o r a t i o n , Seward, Nebraska, f o r approval to a c q u i r e 93 percent of t h e v o t i n g s h a r e s of The Jones N a t i o n a l Bank and Trust Company o f Seward, Seward, Nebraska. JL/ & 2 / Dallas Everman Bank S h a r e s , I n c . , Fort Worth, T e x a s , f o r approval to a c q u i r e 8 0 - 9 9 . 9 percent of t h e v o t i n g s h a r e s of Eve rman N a t i o n a l Bank o f Fort Worth, Fort Worth, T e x a s . 1/ & 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) o f t h e Bank Holding Company Act o f 1956 Dallas Dallas JL/ 2/ Approved El Paso N a t i o n a l C o r p o r a t i o n , El P a s o , T e x a s , for approval t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of East El Paso N a t i o n a l Bank, El P a s o , T e x a s , a proposed new bank. 1/ & 2/ Correction: The a p p l i c a t i o n f o r P e o p l e s B a n c o r p o r a t i o n of Caddo, I n c . , Blanchard, L o u i s i a n a , for approval to a c q u i r e 8 0 - 1 0 0 p e r cent of the v o t i n g s h a r e s of Republic Bank, Blanchard, L o u i s i a n a ( f o r m e r l y P e o p l e s Bank and Trust Co.) which appeared on H.2 No. 4 5 , 1980 was i n c o r r e c t . The c o r r e c t name of t h e h o l d i n g company should be P e o p l e s Bancshares of Caddo, I n c . , Blanchard, L o u i s i a n a . JL/ & 2/ A p p l i c a t i o n p r o c e s s e d on b e h a l f o f the Board of Governors under d e l e g a t e d authority. A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H . 2 , 1980 No. 46 - 9 ACTIONS OF THE BOARD-Con t i n tied To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) o f the Bank Holding Company Act o f 1956 New York Approved B a r c l a y s Bank Limited and B a r c l a y s Bank I n t e r n a t i o n a l L i m i t e d , both of London, England, f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s o f Aetna B u s i n e s s C r e d i t , I n c . , E a s t H a r t f o r d , C o n n e c t i c u t , through i t s s u b s i d i a r y , B a r c l a y s American C o r p o r a t i o n , C h a r l o t t e , North C a r o l i n a . Chicago B a x t e r I n s u r a n c e Agency, I n c . , B a x t e r , Iowa, f o r approval to c o n t i n u e to engage in i n s u r a n c e a c t i v i t i e s in a commun i t y o f l e s s than 5 , 0 0 0 p o p u l a t i o n . \J Chicago Indiana N a t i o n a l C o r p o r a t i o n , I n d i a n a p o l i s , I n d i a n a , f o r approval t o r e t a i n a l l the shares of Indun R e a l t y , I n c . , I n d i a n a p o l i s , Indiana. Chicago LeRoy C. Darby, I n c . , Monona, Iowa, f o r approval to cont i n u e to engage i n a c t i v i t i e s p r e v i o u s l y commenced de novo ( t o make loans which may o r may not i n c l u d e i n s i d e r t r a n s a c t i o n s i . e . farm and c i t y r e a l e s t a t e l o a n s , commercial and i n d u s t r i a l l o a n s , s i n g l e payment and i n s t a l l m e n t l o a n s to i n d i v i d u a l s for house h o l d f a m i l y and o t h e r p e r s o n a l e x p e n s e s i n c l u d i n g purchased p a p e r ) . Minneapolis C u t l e r C o r p o r a t i o n , Newport, M i n n e s o t a , for approval t o c o n t i n u e to conduct g e n e r a l i n s u r a n c e agency a c t i v i t i e s i n Green I s l e , M i n n e s o t a , a community o f l e s s than 5 , 0 0 0 p o p u l a t i o n . JL/ San Francisco 17 3J Delayed W e l l s Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in a c t i n g as agent for c r e d i t property and c a s u a l t y i n surance and a s s o c i a t e d l i a b i l i t y i n s u r a n c e r e l a t e d to WFCC's e x t e n s i o n s of c r e d i t to t h e e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws or r e g u l a t i o n s ) t h e s e a c t i v i t i e s would be from o f f i c e s i n Tulsa and Oklahoma C i t y , Oklahoma, through i t s s u b s i d i a r y , Wells Fargo C r e d i t C o r p o r a t i o n ( 1 1 / 1 2 / 8 0 ) 3 / A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d authority. 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . I H.2, 1980 No. 46 - 10 ACTIONS OF THE BOARD-Continued San Francisco New York New York 37 Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s i n Oklahoma ( a c t i n g as agent f o r c r e d i t p r o p e r t y , c a s u a l t y and homeowners i n s u r a n c e and a s s o c i a t e d l i a b i l i t y i n s u r ance r e l a t e d t o e x t e n s i o n s of c r e d i t or the p r o v i s i o n of o t h e r f i n a n c i a l s e r v i c e s ) in S c o t t s d a l e , A r i z o n a , through i t s s u b s i d i a r y , Wells Fargo Insurance S e r v i c e s ( 1 1 / 1 2 / 8 0 ) 3/ Reactivated C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t t o engage in de novo a c t i v i t i e s ( t h e s a l e of c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e in c o n n e c t i o n w i t h i t s c r e d i t card a c t i v i t i e s ) t h e s e a c t i v i t i e s would be c o n d u c t e d from C i t i c o r p F i n a n c i a l , I n c . ' s approved o f f i c e l o c a t e d a t 7720 York Road, Towson, Maryland; i t i s a l s o proposed t h a t an a d d i t i o n a l l i m i t e d purpose o f f i c e at Harundale M a l l , R i t c h i e Highway and Aquahart Road, Glen Burnie, Maryland w i l l provide customer s e r v i c e , account adjustment and a p p l i c a t i o n a c c e p t a n c e f u n c t i o n s i n c o n n e c t i o n with t h e s e proposed new a c t i v i t i e s and a l s o in c o n n e c t i o n w i t h the p r e s e n t a c t i v i t i e s of C i t i c o r p F i n a n c i a l , I n c . r e l a t i n g to t h e purchase and s e r v i c i n g , f o r i t s own account or the account of o t h e r s o f c r e d i t card a c c o u n t s r e c e i v a b l e ) ( 1 1 / 1 4 / 8 0 ) 3/ Permitted B a r c l a y s Bank L i m i t e d and B a r c l a y s Bank I n t e r n a t i o n a l L i m i t e d , both of London, England, n o t i f i c a t i o n of i n t e n t to r e l o c a t e de novo a c t i v i t i e s ( ( i ) making d i r e c t c o n sumer loans and p u r c h a s i n g of s a l e s f i n a n c e c o n t r a c t s r e p r e s e n t i n g e x t e n s i o n s o f c r e d i t such as would be made or acquired by a consumer f i n a n c e company and w h o l e s a l e f i n a n c i n g ( f l o o r p l a n n i n g ) ; and ( i i ) a c t i n g as agent for the s a l e of r e l a t e d c r e d i t l i f e , c r e d i t a c c i d e n t and h e a l t h and c r e d i t p r o p e r t y i n s u r a n c e ) from 302 Evans S t r e e t , G r e e n v i l l e , North C a r o l i n a to 703 East G r e e n v i l l e B o u l e v a r d , G r e e n v i l l e , North C a r o l i n a and from 203 East Nash S t r e e t , Wilson, North C a r o l i n a to 701 West Ward B o u l e v a r d , N . E . , W i l s o n , North C a r o l i n a , through t h e i r subsidiary, BarclaysAmerican/Financial, Inc. (11/14/80) 3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H 1 9 8 0 No. 46 - 1 1 - ACTIONS OF THE BOARD-Continued New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t h e s a l e o f c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h insurance i n c o n n e c t i o n with i t s c r e d i t card a c t i v i t i e s ) t h e s e a c t i v i t i e s would be conducted from C i t i c o r p F i n a n c i a l , I n c . ' s approved o f f i c e l o c a t e d a t 7720 York Road, Towson, Maryland and t o e s t a b l i s h an a d d i t i o n a l l i m i t e d purpose o f f i c e at Harundale M a l l , R i t c h i e Highway and Aquahart Road, Glen B u r n i e , Maryland which w i l l p r o v i d e customer s e r v i c e , account adjustment and a p p l i c a t i o n a c c e p t a n c e f u n c t i o n s i n c o n n e c t i o n w i t h t h e s e proposed new a c t i v i t i e s , and a l s o in c o n n e c t i o n with t h e present a c t i v i t i e s of C i t i c o r p F i n a n c i a l , I n c . r e l a t i n g t o the purchase and s e r v i c i n g , for i t s own account or t h e account of o t h e r s , of c r e d i t card a c c o u n t s r e c e i v a b l e ( 1 1 / 1 5 / 8 0 ) 3J New York The Chase Manhattan C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (maki n g or a c q u i r i n g , for i t s own account and for t h e account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t , both s e c u r e d and unsecured i n c l u d i n g , but n o t l i m i t e d t o , c o n sumer and b u s i n e s s l i n e s of c r e d i t , i n s t a l l m e n t l o a n s f o r p e r s o n a l , h o u s e h o l d and b u s i n e s s purposes and mortgage loans secured by r e a l p r o p e r t y ; to s e r v i c e loans and other e x t e n s i o n s o f c r e d i t ; t o s e l l t r a v e l e r s checks a t r e t a i l ; to act as i n s u r a n c e agent or broker f o r c r e d i t l i f e i n s u r a n c e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d t o such l e n d i n g and s e r v i c i n g a c t i v i t i e s ) i n t h e A r v i d a F i n a n c i a l P l a z a , Glades Road and Boca West Road, Boca Raton, F l o r i d a , through a s u b s i d i a r y , Chase Manhattan F i n a n c i a l S e r v i c e s , I n c . ( 1 1 / 1 3 / 8 0 ) 3 / New York Manufacturers Hanover C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , l o a n s and other e x t e n s i o n s o f c r e d i t such as would be made by a commercial f i n a n c e company; and a r r a n g i n g or s e v i c i n g such loans and o t h e r e x t e n s i o n s o f c r e d i t f o r any person) a t 1 Commerce P l a c e , S u i t e 1933, N a s h v i l l e , T e n n e s s e e , through i t s s u b s i d i a r y , Manufacturers Hanover Commercial C o r p o r a t i o n ( 1 1 / 1 4 / 8 0 ) 3J 37 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . n.Z, 1980 No. 46 - 1 2 - ACTIONS OF THE BOARD-Continued Cleveland Pittsburgh National Corporation, Pittsburgh, Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( m o r t g a g e b a n k i n g , i n c l u d i n g t h e making or a c q u i r i n g and s e r v i c i n g for i t s own account and for t h e account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t ) in the m e t r o p o l i t a n . a r e a of K e n s i n g t o n , Maryland, through a s u b s i d i a r y , The K i s s e l 1 Company ( 1 1 / 5 / 8 0 ) 3_/ Chicago W i s c o , I n c . , West Des M o i n e s , Iowa, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( t o c o n t i n u e to engage i n t h e s a l e of i n s u r a n c e through D i a g o n a l I n s u r a n c e Agency, I n c . , D i a g o n a l , Iowa) ( 1 1 / 1 3 / 8 0 ) 3 / Minneapolis C u t l e r C o r p o r a t i o n , Newport, M i n n e s o t a , n o t i f i c a t i o n o f i n t e n t to engage i n de novo a c t i v i t i e s ( t o c o n t i n u e to e n g a g e i n t h e a c t i v i t i e s o f making l o a n s to i t s s h a r e h o l d e r s , t h e i r f a m i l i e s , and t h e i r r e l a t e d i n t e r e s t s ) ( 1 1 / 1 3 / 8 0 ) 3_/ Kansas C i t y Union B a n c o r p o r a t i o n , I n c . , Oklahoma C i t y , Oklahoma, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage i n t h e s a l e at r e t a i l of money o r d e r s h a v i n g a f a c e v a l u e of n o t more t h a n $ 1 , 0 0 0 and t h e s a l e of t r a v e l e r s c h e c k s ) a t the n o r t h w e s t c o r n e r of the i n t e r s e c t i o n o f Memorial Road and P e n n s y l v a n i a A v e n u e , Oklahoma C i t y , Olahoma, t h r o u g h a s u b s i d i a r y , Union Loan & T h r i f t Company ( 1 1 / 1 4 / 8 0 ) 3 / San Franci sco BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to c o n t i n u e to engage i n de novo a c t i v i t i e s (making o r a c q u i r i n g , f o r i t s own account l o a n s and o t h e r e x t e n s i o n s o f c r e d i t such as would be made or a c q u i r e d by a f i n a n c e company, s e r v i c i n g l o a n s and o t h e r e x t e n s i o n s o f c r e d i t and o f f e r i n g o f c r e d i t r e l a t e d l i f e , a c c i d e n t and h e a l t h i n s u r a n c e ; such a c t i v i t i e s would i n c l u d e , but n o t be l i m i t e d t o , making l o a n s and o t h e r e x t e n s i o n s o f c r e d i t to consumers as w e l l as s m a l l b u s i n e s s e s , purchasing installment sales finance cont r a c t s , making l o a n s s e c u r e d by r e a l p r o p e r t y , and o f f e r i n g l i f e and a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s o f c r e d i t made or a c q u i r e d by F i n a n c e A m e r i c a C o r p o r a t i o n of New Hampshire, I n c . ) and t o 3 ? 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank o n b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . y H.2, 1980 No. 46 - 13 ACTIONS OF THE BOARD-Continued expand t h e g e o g r a p h i c scope of e x i s t i n g o f f i c e s of i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica C o r p o r a t i o n of New Hampshire, I n c . l o c a t e d a t 344 Central Avenue, D o v e r , Delaware and a t 639 Main S t r e e t , L a c o n i a , New Hampshire t o i n c l u d e New Hampshire and Maine and t h e o f f i c e at CBS P l a z a , 115 Key Road, Keene, New Hampshire to i n c l u d e New Hampshire and Vermont ( 1 1 / 1 3 / 8 0 ) 3 / San Francisco BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage i n the a c t i v i t i e s of an i n d u s t r i a l loan company a s a l i c e n s e e under the Kansas Investment C e r t i f i c a t e s of I n v e s t m e n t Companies A c t ; to i n c l u d e , but not be l i m i t e d t o , such i n d u s t r i a l loan a c t i v i t i e s as i s s u i n g t h r i f t c e r t i f i c a t e s and t h r i f t passbook c e r t i f i c a t e s , making consumer i n s t a l l m e n t l o a n s , purchasing i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s , making loans and o t h e r e x t e n s i o n s of c r e d i t to s m a l l b u s i n e s s e s , making loans secured by r e a l and p e r s o n a l property; and o f f e r i n g l i f e , a c c i d e n t , h e a l t h and p r o p e r t y i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s o f c r e d i t made or acquired by FinanceAmerica C o r p o r a t i o n ( K a n s a s ) ) t h e s e a c t i v i t i e s would be conducted from e x i s t i n g o f f i c e s i n Emporia, Great Bend, Kansas C i t y , Lawrence, Overland Park, S a l i n a , Topeka, and W i c h i t a , Kansas, through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica C o r p o r a t i o n ( a Kansas C o r p o r a t i o n ) ( t h e name of which w i l l change to FinanceAmerica T h r i f t C o r p o r a t i o n upon i s s u a n c e of t h e i n d u s t r i a l loan l i c e n s e ) ( 1 1 / 1 3 / 8 0 ) 3 / San Francisco BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o i n c l u d e t h e a d d i t i o n a l a c t i v i t y of a c t i n g as an i n d u s t r i a l l o a n c o r p o r a t i o n under the Utah I n d u s t r i a l Loan Law; such a c t i v i t y w i l l i n c l u d e , but not be l i m i t e d t o , such i n d u s t r i a l l o a n a c t i v i t i e s as i s s u i n g t h r i f t c e r t i f i c a t e s and t h r i f t passbook c e r t i f i c a t e s , making consumer i n s t a l l m e n t l o a n s , purchasing i n s t a l l m e n t s a l e s finance c o n t r a c t s , making l o a n s and other e x t e n s i o n s o f c r e d i t t o s m a l l b u s i n e s s s e s , and making loans secured by r e a l and p e r - 3/ ~~ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . i H.z, 1980 No. 46 - 1 4 ACTIONS OF THE BOARD-Continued s o n a l p r o p e r t y ) the a c t i v i t i e s w i l l be conducted from an e x i s t i n g o f f i c e i n S a l t Lake C i t y , U t a h , through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica C o r p o r a t i o n of Utah ( t h e name ttfiich w i l l be changed to FinanceAmerica T h r i f t Corporation upon the i s s u a n c e of an i n d u s t r i a l loan l i c e n s e ) ( 1 1 / 1 3 / 8 0 ) 3J San Francisco Orbanco F i n a n c i a l S e r v i c e s C o r p o r a t i o n , P o r t l a n d , Oregon, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , mortgage l o a n s or other e x t e n s i o n s of c r e d i t secured by r e a l p r o p e r t y , s e r v i c i n g mortgage l o a n s , p e r i o d i c a l l y i n s p e c t i n g c o l l a t e r a l and s u p e r v i s i n g r e p o s s e s s i o n s in the event of unremedied d e f a u l t s ) at 516 S o u t h e a s t M o r r i s o n , S u i t e 820, P o r t l a n d , Oregon, through i t s wholly-owned s u b s i d i a r y o f i t s s u b s i d i a r y , Columbia Mortgage Co. known a s Mortgage C r e d i t c o r p ( 1 1 / 1 3 / 8 0 ) 3J * * * * * To Expand a Bank Holding Company Pursuant to S e c t o n 4 ( c ) ( 1 2 ) o f t h e Bank Holding Company Act of 1956 Kansas C i t y 37 Permitted Baldwin-United C o r p o r a t i o n , C i n c i n n a t i , O h i o , n o t i f i c a t i o n of i n t e n t to a c q u i r e through i t s s u b s i d i a r y , T . V . T r a v e l , I n c . , D a y t o n , O h i o , 100 percent of t h e s t o c k of The T r a v e l Department, I n c . , I n d i a n a p o l i s , I n d i a n a and c e r t a i n a s s e t s o f Champion T r a v e l Agency, I n c . , L o u i s v i l l e , Kentucky ( 1 1 / 1 3 / 8 0 ) 3/ 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . i H . 2 , 1980 No. 46 - 1 5 APPLICATIONS RECEIVED To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 o f t h e F e d e r a l Reserve Act New York The Schenectady T r u s t Company, S c h e n e c t a d y , New York. Branch to be e s t a b l i s h e d a t 1400 Altamont Avenue, Rotterdam, S c h e n e c t a d y County, New York. 2/ Cleveland The S y l v a n i a S a v i n g s Bank Company, S y l v a n i a , Ohio. Branch to be e s t a b l i s h e d a t 3948 West A l e x i s Road, T o l e d o , Lucas County, Ohio. 2 / Cleveland The S y l v a n i a Savings Bank Company, S y l v a n i a , O h i o . Branch to be e s t a b l i s h e d at H o i l a n d - S y l v a n i a Road/ S y l v a n i a Avenue, S y l v a n i a , Lucas County, Ohio. 2/ Richmond The Bank of Vienna, Vienna, V i r g i n i a . Branch to be e s t a l i shed a t 101 East H o l l y Avenue, S t e r l i n g , Loudoun County, V i r g i n i a . 2 / * * * * * To Become a Member of t h e F e d e r a l Reserve System Pursuant t o S e c t i o n 9 of t h e F e d e r a l Reserve Act Richmond C o n s o l i d a t e d Bank and Trust Company, Richmond, V i r g i n i a . * * * * * To E s t a b l i s h an O v e r s e a s Branch of a Member Bank Pursuant t o S e c t i o n 25 of t h e F e d e r a l Reserve Act San Franci s c o Crocker N a t i o n a l Bank, San F r a n c i s c o , C a l i f o r n i a : prior n o t i f i c a t i o n of i t s i n t e n t to e s t a b l i s h i t s i n i t i a l branch i n S e o u l , Korea. San Francisco S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a : p r i o r n o t i f i c a t i o n of i t s i n t e n t of i t s wholly-owned s u b s i d i a r y , Security P a c i f i c International Leasing (Europe) I n c . , to e s t a b l i s h a branch i n M i l a n , I t a l y . 2/ A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H.2, 1980 No. 46 - 16 ~ APPLICATIONS RECEIVED-Cont inued To E s t a b l i s h a U.S. Branch of an Edge Act C o r p o r a t i o n Pursuant t o S e c t i o n 2 5 ( a ) o f t h e Federal Reserve Act New York Morgan Guaranty I n t e r n a t i o n a l Bank, Miami, F l o r i d a : r e q u e s t s c o n s e n t to open a branch i n Los A n g e l e s , C a l i fornia. San Francisco Wells Fargo Bank, N . A . , San F r a n c i s c o , C a l i f o r n i a : r e q u e s t s c o n s e n t to r e o r g a n i z e i t s Edge Act Corporat i o n s by r e l o c a t i n g Wells Fargo Bank I n t e r n a t i o n a l from New York t o San F r a n c i s c o ; e s t a b l i s h m e n t by WFBI of banches in New York and Miami; and t h e r e d u c t i o n in c a p i t a l o f W e l l s Fargo I n t e r n a t i o n a l A f f i l i a t e s Corporation. * * * * * To O r g a n i z e , or I n v e s t i n , a C o r p o r a t i o n Doing F o r e i g n Banking and Other F o r e i g n F i n a n c i n g Pursuant t o S e c t i o n 25 or 2 5 ( a ) o f t h e F e d e r a l Reserve Act Atlanta F i r s t N a t i o n a l Bank i n Palm Beach, Palm Beach, F l o r i d a : r e q u e s t s c o n s e n t t o form an Edge Corporation i n Miami, F l o r i d a to be named " F i r s t Palm Beach I n t e r n a t i o n a l Bank". * * * * * To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of t h e Bank H o l d i n g Company Act of 1956 Atlanta F i r s t C i t i z e n s B a n k s h a r e s , I n c . , G l e n n v i l l e , G e o r g i a , for approval to a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s o f F i r s t C i t i z e n s Bank, G l e n n v i l l e , G e o r g i a . 2_/ Atlanta Golden Summit C o r p o r a t i o n , M i l t o n , F l o r i d a , f o r approval to a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s of Santa Rosa S t a t e Bank, M i l t o n , F l o r i d a , 2 / 2/ A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H . 2 , 1980 No. 46 - 17 APPLICATIONS RECEIVED-Continued Chicago Alpha Banco I n c . , Alpha, I l l i n o i s , f o r approval t o a c q u i r e a t l e a s t 80 percent of t h e v o t i n g s h a r e s o f Farmers S t a t e Bank o f A l p h a , Alpha, I I l i n o s . 2/ Chicago North Holding Company, I n c . , N e i l l s v i l l e , W i s c o n s i n , for app r o v a l t o a c q u i r e at l e a s t 8 7 . 3 1 p e r c e n t of the v o t i n g s h a r e s of N e i l l s v i l l e Bank, N e i l l s v i l l e , W i s c o n s i n . 2 / St. Louis F i r s t S t a t e Holding Company o f P r e s c o t t , P r e s c o t t , Arkansas, for approval to a c q u i r e 9 8 . 3 percent of t h e v o t i n g s h a r e s of Bank o f P r e s c o t t , P r e s c o t t , Arkansas. 2/ Kansas C i t y Anadarko B a n c s h a r e s , I n c . , Anadarko, Oklahoma, for approval t o a c q u i r e at l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of Anadarko Bank and Trust Company, Anadarko, Oklahoma. 7J Kansas C i t y Anchor B a n s h a r e s , I n c . , A l l i a n c e , Nebraska, f o r approval to a c q u i r e 92 percent of t h e v o t i n g s h a r e s of The Anchor Bank, Merriman, Nebraska. 2J Kansas C i t y Savannah B a n c s h a r e s , I n c . , Savannah, M i s s o u r i , for approval to a c q u i r e 80 p e r c e n t or more of the v o t i n g s h a r e s of F i r s t Community S t a t e Bank of Savannah, M i s s o u r i , Savannah, M i s s o u r i . 2J Kansas C i t y Union Bank C o r p o r a t i o n , Upton, Vfyoming, f o r approval to a c q u i r e a t l e a s t 90 percent of t h e v o t i n g s h a r e s of Union S t a t e Bank, Upton, l o o m i n g . _2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) o f t h e Bank Holding Company Act o f 1956 New York 2/ The Summit B a n c o r p o r a t i o n , Summit, New J e r s e y , f o r app r o v a l to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The Maplewood Bank and Trust Company, Maplewood, New J e r s e y . 2] A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvestment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . i - 1 8 - H . 2 , 1980 No. 46 APPLICATIONS RECEIVED-Cont inued Chicago S e c u r i t y N a t i o n a l C o r p o r a t i o n , S i o u x C i t y , Iowa, f o r app r o v a l to a c q u i r e a t l e a s t 94 percent of t h e v o t i n g s h a r e s of F i r s t S t a t e Bank, Mapleton, Iowa. 2/ Kansas C i t y Colorado N a t i o n a l B a n k s h a r e s , I n c . , Denver, C o l o r a d o , for approval t o a c q u i r e at l e a s t 100 percent of the v o t i n g s h a r e s o f Arvada S t a t e Bank, Arvada, Colorado. 2J Dallas F i r s t C i t y B a n c o r p o r a t i o n of Texas, I n c . , Houston, T e x a s , for approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of The Bank o f South Texas, A l i c e , Texas. 2/ Dallas F i r s t C i t y B a n c o r p o r a t i o n of T e x a s , I n c . , H o u st o n , T e x a s , for approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of C e n t r a l Park Bank, San A n t o n i o , T e x a s . 2 / Dallas F i r s t C i t y B a n c o r p o r a t i o n of T e x a s , I n c . , Houston, T e x a s , for approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s ( l e s s d i r e c t o r s ' q u a l i f y i n g s h a r e s ) of Windsor Park Bank, San A n t o n i o , T e x a s . 2/ Dallas F i r s t United B a n c o r p o r a t i o n , I n c . , Fort Worth, T e x a s , f o r approval to a c q u i r e 100 percent of t h e v o t i n g s h a r e s of The Southwest S t a t e Bank, Brownwood, T e x a s . 2/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) o f t h e Bank Holding Company Act o f 1956 New York 2? The Chase Manhattan C o r p o r a t i o n , New York, New York, n o t i f i c a t i o n of i n t e n t to r e l o c a t e de novo a c t i v i t i e s ( t o s o l i c i t , make, a c q u i r e and s e r v i c e loans and o t h e r e x t e n s i o n s o f c r e d i t e i t h e r secured o r u n s e c u r e d , for i t s own account or f o r the account of o t h e r s ; to act as an i s s u e r , broker and/or d e a l e r i n r e s p e c t of s e c u r i t i e s guaranteed by the Government N a t i o n a l Mortgage A s s o c i a t i o n A p p l i c a t i o n s u b j e c t to Community Reinvestment A c t . The Community Reinvetment O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d . H . 2 , 1980 No. 46 - 19 APPLICATIONS RECEIVED-Cont inued and t o act as investment or f i n a n c i a l a d v i s e r on r e a l e s t a t e m a t t e r s to the e x t e n t of f u r n i s h i n g g e n e r a l economic i n f o r m a t i o n and a d v i c e as w e l l as p o r t f o l i o i n v e s t m e n t a d v i c e on r e a l e s t a t e m a t t e r s ) from 12 3 North J u l i a S t r e e t , J a c k s o n v i l l e , F l o r i d a to 3063 H a r t l e y Road, S u i t e 3, J a c k s o n v i l l e , F l o r i d a , through i t s s u b s i d i a r y , Housing Investment C o r p o r a t i o n of F l o r i d a ( 1 1 / 1 4 / 8 0 ) 31 New York Manufacturers Hanover C o r p o r a t i o n , New York, New York, not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( i n making or a c q u i r i n g , f o r i t s own account or f o r the a c count of o t h e r s , l o a n s and o t h e r e x t e n s i o n s o f c r e d i t such as would be made by a commercial f i n a n c e company; and a r r a n g i n g or s e r v i c i n g such loans and other e x t e n s i o n s of c r e d i t f o r any person) at 1 Union P l a z a , S u i t e 2 0 8 0 , C h a r l o t t e , North C a r o l i n a and 6701 Rockside Road, Independence, O h i o , through i t s s u b s i d i a r y , Manufacturers Hanover Commercial C o r p o r a t i o n (Delaware) ( 1 1 / 1 2 / 8 0 ) 3 / New York Manufacturers Hanover C o r p o r a t i o n , New York, New York, not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( i n making or a c q u i r i n g , f o r i t s own account or f o r the a c count of o t h e r s , loans and other e x t e n s i o n s o f c r e d i t such as would be made by a mortgage company; and s e r v i c i n g any such l o a n s and other e x t e n s i o n s of c r e d i t for any p e r s o n ) at 1660 South Highway 100, S t . L o u i s Park, Minnesota and 6161 Ninth S t r e e t N o r t h , S t . P e t e r s b u r g , F l o r i d a , through i t s s u b s i d i a r y , Manufacturers Hanover Mortgage C o r p o r a t i o n ( 1 1 / 1 4 / 8 0 ) 3 / Philadelphia P h i l a d e l p h i a National Corporation, P h i l a d e l p h i a , Pennsylvani n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making p e r s o n a l i n s t a l l m e n t l o a n s secured by mortgages other t h a n f i r s t l i e n s on the b o r r o w e r 1 s r e a l e s t a t e ; s e l l i n g c a s u a l t y i n s u r a n c e , c r e d i t l i f e i n s u r a n c e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e in c o n n e c t i o n with such l o a n s ; r e i n s u r i n g such c r e d i t l i f e and c r e d i t a c c i dent and h e a l t h i n s u r a n c e through P a t r i c k Henry L i f e I n surance Company and P a t r i c k Henry Insurance Company, i n d i r e c t s u b s i d i a r i e s of P h i l a d e l p h i a N a t i o n a l C o r p o r a t i o n ; and g e n e r a l l y e n g a g i n g i n the b u s i n e s s of second mortgage l e n d i n g as a u t h o r i z e d for l i c e n s e e s under t h e Delaware Secondary Mortgage Loan Law) at 103 Penn Mart C e n t e r , New 37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H . 2 , 1980 No. 46 - 20 ACTIONS OF THE BOARD-Continued C a s t l e , Delaware; 27 P r e s t b u r y Square, Chestnut H i l l Road, P.O. Box 9 3 4 , Newark, Delaware; and M i l l Creek Shopping C e n t e r , 4565 Kirkwood Highway, P.O. Box 5281, Wilmington, D e l a w a r e , through a newly formed s u b s i d i a r y , S i g n a l Mortgage C o r p o r a t i o n of Delaware ( 1 1 / 1 0 / 8 0 ) 3/ Cleveland Pittsburgh National Corporation, Pittsburgh, Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (mortgage, banking i n c l u d i n g t h e making or a c q u i r i n g and s e r v i c i n g f o r i t s own account and f o r the account of o t h e r s , l o a n s and o t h e r e x t e n s i o n s o f c r e d i t ) i n t h e m e t r o p o l i t a n a r e a of V i r g i n i a Beach, V i r g i n i a , through a s u b s i d i a r y , The K i s s e l l Company ( 1 1 / 5 / 8 0 ) 3=_/ Minneapolis Houston County Agency, I n c . , S t . P a u l , Minnesota, f o r app r o v a l to c o n t i n u e to engage i n o p e r a t i n g a g e n e r a l i n s u r a n c e agency i n a community o f l e s s than 5 , 0 0 0 population. San Francisco 3/ Correction: The n o t i c e f o r BankAmerica C o r p o r a t i o n , San F r a n c i s c o , C a l i f o r n i a to engage i n de novo a c t i v i t i e s (making or a c q u i r i n g , f o r i t s own account l o a n s and o t h e r e x t e n s i o n s of c r e d i t such as would be made or acquired by a f i n a n c e company: s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t ; and t h e o f f e r i n g o f c r e d i t r e l a t e d l i f e and c r e d i t r e l a t e d a c c i d e n t and h e a l t h i n s u r a n c e ; such a c t i v i t i e s would i n c l u d e , but not be l i m i t e d t o , making l o a n s and o t h e r e x t e n s i o n s of c r e d i t to consumers as w e l l as small b u s i n e s s e s , purchasing installment s a l e s finance contracts; making loans secured by r e a l p r o p e r t y and o f f e r i n g l i f e and a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s o f c r e d i t made or acquired by FinanceAmerica C o r p o r a t i o n of New Hampshire, I n c . ) t h e s e a c t i v i t i e s would be conducted from an e x i s t i n g o f f i c e in Keene, New Hampshire, through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica C o r p o r a t i o n of New Hampshire, I n c . ( a New Hampshire Corp o r a t i o n ) which appeared on H.2 No. 4 0 , 1980 as Received was i n c o r r e c t . The n o t i c e should have r e a t to c o n t i n u e to engage i n t h e above a c t i v i t i e s and to expand t h e g e o g r a p h i c s c o p e of e x i s t i n g o f f i c e s of i t s i n d i r e c t sub- 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . H.2, 1980 No. 46 - 21 APPLICATIONS RECEIVED-Continued s i d i a r y , FinanceAmerica C o r p o r a t i o n of New Hampshire, I n c . l o c a t e d a t 344 Central Avenue, Dover, New Hampshire and a t 639 Main S t r e e t , L a c o n i a , New Hampshire, t o i n c l u d e New Hampshire and Maine and the o f f i c e a t CBS P l a z a , 115 Key Road, Keene, New Hampshire to i n c l u d e New Hampshire and Vermont ( 9 / 2 9 / 8 0 ) J / San Francisco F i r s t Hawaiian, I n c . , H o n o l u l u , Hawaii, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in t h e a c t i v i t y o f o p e r a t i n g as an i n d u s t r i a l loan company i n t h e manner a u t h o r i z e d by S t a t e law; some of i t s a c t i v i t i e s would be to lend money upon i n d i v i d u a l c r e d i t or the pledge o r mortgage of r e a l or p e r s o n a l p r o p e r t y , to i s s u e and s e l l c e r t i f i c a t e s f o r the payment of money a t any t i m e , and t o s e l l c r e d i t r e l a t e d p r o p e r t y , c a s u a l t y , l i f e , a c c i dent and h e a l t h i n s u r a n c e ) at the P a l a n i P r o f e s s i o n a l C e n t e r , P a l a n i Road, Kailua-Kona, H a w a i i , through i t s s u b s i d i a r y , Hawaii T h r i f t & Loan, I n c o r p o r a t e d ( 1 1 / 1 2 / 8 0 ) 3_/ San Francisco R a i n i e r B a n c o r p o r a t i o n , S e a t t l e , Washington, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( o p e r a t i n g as an i n d u s t r i a l loan company in t h e manner a u t h o r i z e d by law o f the S t a t e of Washington, which law does not permit t h e a c c e p t a n c e o f demand d e p o s i t s ; and a c t i n g as agent o r broker w i t h regard t o l i f e , d i s a b i l i t y , and p r o p e r t y and c a s u a l t y i n s u r a n c e d i r e c l t y r e l a t e d to i t s e x t e n s i o n s of c r e d i t ) in Mount Vernon; E v e r e t t ; Redmont; Federal Way; Tacoma; Spokane; O p p o r t u n i t y ; R i c h l a n d ; Averdeen; Vancouver, a l l l o c a t e d i n Washington, through i t s s u b s i d i a r y , R a i n i e r I n d u s t r i a l Loan Company ( 1 1 / 1 1 / 8 0 ) 3 / San Francisco S e c u r i t y P a c i f i c C o r p o r a t i o n , Los A n g e l e s , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in f i n a n c i n g and i n d u s t r i a l loan c o r p o r a t i o n a c t i v i t i e s i n c l u d i n g making, a c q u i r i n g and s e r v i c i n g loans and o t h e r e x t e n s i o n s of c r e d i t ; s e l l i n g and i s s u i n g i n v e s t m e n t c e r t i f i c a t e s ; and a c t i n g as agent for the s a l e of c r e d i t r e l a t e d l i f e , c r e d i t r e l a t e d a c c i d e n t and h e a l t h and c r e d i t r e l a t e d property i n s u r a n c e , a l l as a u t h o r i z e d by C a l i f o r n i a law) in Santa Barbara, San B e r n a r d i n o , Modes to and Oxnard, C a l i f o r n i a , through i t s i n d i r e c t subs i d i a r y , S e c u r i t y P a c i f i c Money C e n t e r , I n c . ( 1 1 / 1 2 / 8 0 ) 3J 3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . i H.2, 1980 No. 46 - 22 APPLICATIONS RECEIVED-Continued San Francisco Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , not i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( ( 1 ) making or a c q u i r i n g r e a l e s t a t e r e l a t e d loans and o t h e r e x t e n s i o n s o f c r e d i t , for i t s own account or for t h e account of o t h e r s ; ( 2 ) s e r v i c i n g t h e loans and e x t e n s i o n s of c r e d i t d e s c r i b e d i n ( 1 ) above; ( 3 ) a c t i n g as an investment a d v i s e r t o Wells Fargo Mortgage and Equity T r u s t (a r e a l e s t a t e investment t r u s t ) , o t h e r a f f i l i a t e s o f W e l l s Fargo & Company and o t h e r i n v e s t o r s w i t h r e s p e c t to r e a l e s t a t e investment p o r t f o l i o s ; ( 4 ) p r o v i d i n g f u l l payout l e a s i n g of r e a l p r o p e r t y o r a c t i n g as a g e n t , b r o k e r or a d v i s e r in arrangi n g such l e a s e s to the e x t e n t permitted by S e c t i o n 2 2 5 . 4 ( a ) ( 6 ) ( b ) of R e g u l a t i o n Y of the Federal Reserve Board; and ( 5 ) p r o v i d i n g bookkeeping or data p r o c e s s i n g s e r v i c e s r e l a t e d t o r e a l e s t a t e i n v e s t m e n t s of W e l l s Fargo & Company and i t s a f f i l i a t e s ) i n A t l a n t a , G e o r g i a , through i t s s u b s i d i a r y , Wells Fargo Realty A d v i s o r s ( 1 1 / 1 4 / 8 0 ) Jj/ * * * * * To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 1 2 ) o f t h e Bank Holding Company Act o f 1956 Chicago Lumbermans Mutual C a s u a l t y Company and Kemper C o r p o r a t i o n , both i n Long Grove, I l l i n o i s , n o t i f i c a t i o n of i n t e n t to a c q u i r e 100 p e r c e n t of Tower H i l l Insurance Company L i m i t e d , London, England, through Kemper R e i n s u r a n c e Company a n d / o r Kemper Europe Reasurances S.A. ( 1 0 / 2 9 / 8 0 ) 1! * * * * * REPORTS RECEIVED None. * * * * * PETITIONS FOR RULEMAKING None. 37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y . I
@FedFRASER