The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
RESEARCH LIBRARY H.2, 1989, No. 46 Actions of the Board, its Staff, and BOARD OF GOVERNORS ^ Federal Reserve Banks; OF THE <\ ications and Reports Received FEDERAL RESERVE SYS' During the Week Ending November 18, 1989 FED iRAL Wi ANNOUNCEMENT JW 10 33 AiMH OF GU ACTIONS TAKEN BY THE BOARD OF GOVERNORS CHANGE IN BANK CONTROL Marin National Bancorp, San Rafael, California -change in bank control. Permitted, November 13, 1989. FORMS Terms of Credit Card Plans (FR 2572) -- to implement a new report. Proposed, November 16, 1989. ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY ABBREVIATIONS; BS&R - Banking Supervision and Regulation; C&CA - Consumer and Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve Bank Operations; GC - General Counsel; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC Richmond Central Fidelity Bank, Richmond, Virginia -- to establish a branch at 1400 Crossways Boulevard, Suite A, Chesapeake, Virginia; and at the intersection of Crossways Center Drive and Greenbrier Parkway. Approved, November 15, 1989. New York Chemical Bank, New York, New York -- to establish branches at York College of CUNY, 94-20 Guy R. Boulevard, Jamaica, New York; and The American Society of Composers, Authors & Publishers, One Lincoln Plaza, New York, New York. Approved, November 14, 1989. San Francisco First Interstate Bank of California, Los Angeles -California -- to establish a branch at 12016 East Telegraph Road, Santa Fe Springs, California. Approved, November 17, 1989. Richmond Hallmark Bank & Trust Company, Springfield, Virginia — to establish a branch at 14229 Potomac Mills Road, Woodbridge, Virginia. Approved, November 14, 1989. H .2 NOVEMBER 13, 1989 PAGE 2 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Dallas American State Financial Corporation of Delaware, Wilmington, Delaware -- to acquire Brownfield State Bank, Brownfield, Texas, American State Bank, Lubbock, Texas, Liberty State Bank; and American State Bank of Snyder, Snyder, Texas. Approved, November 13, 1989. Kansas City Bancshares of McLouth, Inc., McLouth, Kansas -- to acquire The Bank of McLouth. Approved, November 16, 1989. Chicago Caisse Nationale de Credit Agricole, Paris, France -extension to January 21, 1990, to engage de novo in providing opinions in connection with mergers, acquisitions and similar transactions for nonaffiliated financial and managerial institutions and to March 4, 1990, to engage de novo in lending and leasing activities through UI-USA, Inc., New York, New York. Permitted, November 16, 1989. Cleveland Cardinal Bancshares, Inc., Lexington, Kentucky -- to engage de novo in providing management consulting advice to non-affiliated bank and nonbank depository institutions. Permitted, November 18, 1989. St. Louis Citizens National Bank Corporation, Tell City, Indiana -- to engage de novo in credit related insurance through Citizens National Life Insurance Company. Permitted, November 17, 1989. Atlanta Drummond Banking Company, Chiefland, Florida -- to acquire Drummond Community Bank. Approved, November 16, 1989. Chicago Elmwood Bancshares, Inc., Elmwood, Illinois -- to acquire Stenwall Insurance Agency. Approved, November 14, 1989. New York Financial Institutions, Inc., Warsaw, New York -- to acquire Salamanca Trust Company, Salamanca, New York. Approved, November 13, 1989. H .2 NOVEMBER 13, 1989 PAGE 3 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago Firstar Corporation, Milwaukee, Wisconsin, and Firstar Corporation of Illinois — to acquire Park Forest Holdings, Inc., Omaha, Nebraska, Park Forest Bancorporation, Inc., and Bank of Park Forest, Park Forest, Illinois. Approved, November 13, 1989, New York Fuji Bank, Limited, Tokyo, Japan -- to engage de novo in commercial finance and merger and acquisition activities through Heller Capital Markets Group, Inc . Permitted, November 14, 1989. Chicago Greatbanc, Inc., Itasca, Illinois -- to engage de novo in offering trust and other services through GreatBanc Trust Company, Aurora, Illinois. Permitted, November 15, 1989. Cleveland Hometown Bancshares, Inc., Middlebourne, West Virginia -- to acquire Universal Banc Corp., Paden City, West Virginia. Approved, November 17, 1989. New York Hongkong and Shanghai Banking Corporation, Limited, Hong Kong, B.C.C.; Kellett N.V., Curacao, Netherlands Antilles; HSBC Holdings B.V., Amsterdam, the Netherlands, and Marine Midland Banks, Inc., Buffalo, New York -- to engage de novo in retail automotive leasing financing through Jaguar Leasing Corporation. Permitted, November 14, 1989. Secretary Huntington Bancshares Incorporated, Columbus, Ohio -to acquire by merger First Macomb Bancorp, Incorporated, Mount Clemens, Michigan, and First Macomb Bank. Approved, November 13, 1989. Kansas City Kansas Bank Corporation, Liberal, Kansas -- to acquire Elkhart Financial Corporation, Elkhart, Kansas, and First National Bank of Elkhart. Approved, November 13, 1989. H .2 NOVEMBER 13, 1989 PAGE 4 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Richmond Maryland Publick Banks, Inc., Annapolis, Maryland -to acquire The Annapolis National Bank. Approved, November 17, 1989. Chicago North Bancorp, Inc., Gaylord, Michigan -- to acquire First National Bank of Gaylord. Approved, November 14, 1989. New York North Fork Bancorporation Inc., Mattituck, New York -- to engage de novo through Compass Investment Services Corporation in securities brokerage. Approved, November 14, 1989. Minneapolis Norwest Corporation, Minneapolis, Minnesota; Norwest Financial Services, Inc., Des Moines, Iowa; and Norwest Financial, Inc. -- to open de novo offices and to engage de novo in financial and credit related insurance activities. Permitted, November 15, 1989. Staff Director BS&R Old Second Bancorp, Inc., Aurora, Illinois -transfer agent registration. Approved, November 17, 1989. Minneapolis Primo Financial Services, Inc., Apple Valley, Minnesota -- to acquire State Bank of Hampton, Hampton, Minnesota. Approved, November 16, 1989. Chicago Randall - Story Bancshares, Inc., Story City, Iowa to acquire Kenneth Insurance Agency, Randall, Iowa Approved, November 14, 1989. San Francisco Security Pacific Corporation, Los Angeles California -- to engage in investment advisory activities through Sumisei Secpac Investment Advisors, Inc. Approved, November 14, 1989. Kansas City Shidler Bancshares, Inc., Shidler, Oklahoma -- to acquire Security Bank & Trust Company of Ponca City, Ponca City, Oklahoma. Withdrawn, November 15, 1989. H .2 NOVEMBER 13, 1989 PAGE 5 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES St. Louis Union Planters Corporation, Memphis, Tennessee -- to acquire Fidelity Bancorp Inc., of West Memphis, West Memphis, Arkansas, and Fidelity National Bank of West Memphis. Withdrawn, November 14, 1989. BANK MERGERS Richmond Crestar Financial Corporation, Richmond, Virginia -to merge with The Northern Virginia Banking Corporation, Sterling, Virginia. Approved, November 15, 1989. Chicago First of America Bank - Northern Michigan, Cheboygan, Michigan -- to merge with Antrim County State Bank, Mancelona, Michigan. Approved, November 14, 1989. BANK PREMISES Minneapolis Farmers State Bank, Victor, Montana -- investment in bank premises. Approved, November 13, 1989. BANKS, STATE MEMBER Staff Director BS&R Bank of Nashville, Nashville, Tennessee -- transfer agent registration. Approved, November 17, 1989. CAPITAL STOCK Minneapolis Drayton Bancorporation, Inc., Drayton, North Dakota -- redemption of shares. Approved, November 13, 1989. Philadelphia First Peoples Financial Corp., Westmont, New Jersey -- redemption of shares. Approved, November 17, 1989. Boston NewMil Bancorp, Inc., New Milford, Connecticut — redemption of shares. Withdrawn, November 17, 1989. H .2 NOVEMBER 13, 1989 PAGE 6 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Minneapolis Drayton Bancorporation, Inc., Drayton, North Dakota -- change in bank control. Permitted, November 13, 1989. Dallas First Caprock Bancshares, Inc., Claude, Texas -change in bank control. Permitted, November 13, 1989. Atlanta Imperial Bank, Coral Gables, Florida — bank control. Permitted, November 13, 1989. Richmond Matewan BancShares, Inc., Matewan, West Virginia -change in bank control. Permitted, November 13, 1989. Kansas City Security Bancshares, Inc., Tulsa, Oklahoma -- change in bank control. Permitted, November 13, 1989. change in COMPETITIVE FACTORS REPORTS Dallas Angelina National Bank, Lufkin, Texas, proposed merger with Huntington State Bank, Huntington, Texas -- report on competitive factors. Submitted, November 14, 1989. San Francisco Bank of Livermore, Livermore, California, proposed acquisition of certain assets and assumption of the liability to pay deposits of the Livermore Branch of Sanwa Bank, California, San Francisco, California -- report on competitive factors. Submitted, November 17, 1989. St. Louis Bank of Mulberry, Mulberry, Arkansas, proposed merger with Bank of Kensett, Kensett, Arkansas — report on competitive factors. Submitted, November 13, 1989. Boston BayBank Middlesex, Burlington, Massachusetts, proposed merger with BayBank Merrimack Valley, N.A., Andover, Massachusetts — report on competitive factors. Submitted, November 16, 1989. H.2 NOVEMBER 13, 1989 PAGE 7 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Boston Coolidge Bank and Trust Company, Boston, Massachusetts, proposed acquisition of certain assets and assumption of the liability to pay deposits in the Cambridge and Brighton, Massachusetts Branches of Merchants Bank of Boston A Co-operative Bank, Boston, Massachusetts -report on competitive factors. Submitted, November 17, 1989. Richmond First Charlotte Bank & Trust Co., Charlotte, North Carolina, proposed merger with First Charlotte Interim Bank -- report on competitive factors. Submitted, November 17, 1989. New York Gateway Bank, Norwalk, Connecticut, proposed merger with Connecticut Community Bank, Greenwich, Connecticut -- report on competitive factors. Submitted, November 16, 1989. Atlanta Intercontinental Bank, Miami, Dade County, Florida, proposed merger with Atico Savings Bank -- report on competitive factors. Submitted, November 14, 1989. Dallas New Lubbock National Bank, Lubbock, Texas, proposed merger with Lubbock National Bank -- report on competitive factors. Submitted, November 14, 1989. New York Suffolk County National Bank of Riverhead, Riverhead New York, proposed purchase of certain assets and assumption of certain liabilities of the Port Jefferson Village Branch of Chemical Bank, New York, New York. Submitted, November 17, 1989. Atlanta Union Planters Bank - Tennessee Valley, Oak Ridge, Tennessee, proposed purchase of the assets and liabilities of the four Knox and Anderson County Branches of the Union Planters Bank, Memphis, Tennessee -- report on competitive factors. Submitted, November 15, 1989. San Francisco Wells Fargo Bank, N.A., San Francisco, California, proposed merger with Torrey Pines Bank, Solona Beach, California — report on competitive factors Submitted, November 16, 1989. H .2 NOVEMBER 13, 1989 PAGE 8 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME San Francisco BankAmerica Corporation, San Francisco, California -extension to divest certain property. Granted, November 14, 1989. Atlanta Bryan Bancorp of Georgia, Inc., Richmond Hill, Georgia -- extension to February 11, 1900, to acquire Bryan Bank & Trust. Granted, November 15, 1989. Chicago Erie Bancorp, Inc., Erie, Illinois -- extension to March 3, 1990, to engage de novo in lending activities. Granted, November 16, 1989. Chicago Fayette Bancorporation, Marion, Iowa -- extension to February 28, 1990, to acquire Maynard Savings Bansharecorp, Maynard, Iowa, and The Maynard Savings Bank. Granted, November 14, 1989. Chicago First National Bank of Blue Island Employee Stock Ownership Trust, Blue Island, Illinois -- extension to February 9, 1990, to acquire additional shares of Great Lakes Financial Resources, Inc., and Bank of Homewood, Homewood, Illinois. Granted, November 16, 1989. Atlanta First Security Corporation, Norcross, Georgia -extension to March 6, 1990, to acquire First Security National Bank. Granted, November 15, 1989. St. Louis HNB Bancorp, Inc., Hannibal, Missouri -- extension to February 24, 1990, to acquire the successor by merger to the Hannibal National Bank. Granted, November 15, 1989. Chicago Midlothian State Bank Employee Stock Ownership Trust, Midlothian, Illinois -- extension to February 17, 1990, to acquire Midlothian State Bank. Granted, November 13, 1989. Dallas Mineral Wells Bancshares, Inc., Mineral Wells, Texas — extension to March 1, 1990, to acquire First State Bank of Mineral Wells. Granted, November 17, 1989. H .2 NOVEMBER 13, PAGE 9 1989 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY EXTENSIONS OF TIME St. Louis M&P Community Bancshares, Inc., Newport, Arkansas -extension to February 14, 1990, to acquire Merchants and Planters Bank. Granted, November 16, 1989. Richmond NCNB Corporation, Charlotte, North Carolina extension to February 18, 1990, to engage de novo in underwriting certain securities through NCNB Capital Markets, Inc. Granted, November 13, 1989. Richmond NCNB Texas National Bank, Dallas, Texas -- extension to August 26, 1990, to divest stock of the Fourth National Corporation, Tulsa, Oklahoma. Granted, November 14, 1989. Minneapolis Norwest Corporation, Minneapolis, Minnesota -extension to February 25, 1990, to redeem shares. Granted, November 13, 1989. Atlanta South Banking Company, Alma, Georgia -- extension to February 18, 1990, to merge with Georgia Peoples Bankshares, Inc., Baxley, Georgia. Granted, November 15, 1989. REGULATIONS AND POLICIES Secretary FOMC Federal Open Market Committee -- policy record for the meeting of October 3, 1989. Published, November 17, 1989. Director C&CA Regulation E -- update of official staff commentary; additional commentary discusses stop - payment orders in cases in which there has been a revocation of a preauthorized debit. Proposed, November 16, 1989. Director, C&CA Regulation Z -- update of official staff commentary; additional commentary include tax refund anticipation loans, the price-level adjusted mortgage (a new mortgage product), and open-end credit advertising. Proposed, November 16, 1989. H .2 NOVEMBER 13, 1989 PAGE 10 TO NOVEMBER 18, 1989 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY RESERVE BANK OPERATIONS Director, FRBO Federal Reserve Bank of Richmond -- to purchase low speed check sorters. Approved, November 17, 1989. Director, FRBO Federal Reserve Bank of San Francisco -- to purchase a PBX and voice processing system for the Portland Branch. Approved, November 15, 1989. Director FRBO Federal Reserve Bank of San Francisco — to modify^ the computer room at the Los Angeles B r a n c h . . Approved, November 16, 1989. FEDERAL RESERVE RANK OF BOSTON APPLICATIONS SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date Appliedtion NONE SECTION IT - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application Comment Period Ending Date Atlantic Bancshares, Inc., Newington, New Hampshire -3(a)(1) application to become a bank holding company through the acquisition of Atlantic Trust Company, Newington, Mew Hampshire* Newspaper 12-1-B9 Federal Register 12-7-89 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Application Cortment Period Ending Date Fleet/Norstar Financial Federal Register Group, Inc., Providence, Rhode Island and Fleet/Norstar New York, Inc., Albany, New York - 4(c)(8) application to engage in the placement of all types of securities cjnd to provide investment advisory services to retail and institutional customers, through Adams McEnteo, Fleet/Norstar Securities, Inc., New York, New York Society for Savings Bancorp, Federal Register Hartford, Connecticut 4(c)(8) application to acquire Franklin Equity leasing Company, St. Louis, Missouri 11-30-89 Not Yet Established SECTION IV - APFI.ICATIONS NOT SUBJECT TO FEDERAL REGISTER. OR NEWSPAPER NOTICE Coruucnt. Period Ending Date Application RONE ^Subject to CRA F e d e r a l R e s e r v e B a n k o f New Y o r k Comment Period Ending Date SECTION I Applications Subject to Newspaper _____________Notice Only__________ None. SECTION II Applications Subject to Both Newspaper and Federal Register Notice Central Capital Corporation and Central Guaranty Trustco Limited, both of Halifax, Nova Scotia, Canada to increase their interest in U.S. Trust Corporation, New York, New York to 19.99%. 11/27/89 4/ SECTION III Noribanking Applications (Subject to Federal Register Notice Only) The Saitama Bank, Ltd., Urawa, Japan to engage through its subsidiary, Saitama Bank Trust Company of New York, in trust company and investment advisory activities. 11/27/89 Chemical Banking Corp., New York, New York to expand the futures commission merchants activities of its subsidiary, Chemical Futures, Inc., to include stock index futures. N/A Bankers Trust New York Corporation, New York to engage through its subsidiary, BT Securities Corporation, in certain investment, management consulting and other advisory activities. N/A BankAmerica Corporation, San Francisco, California, Bankers Trust New York Corporation, New York, New York, The Bank of New York Company, Inc., New York, New York, The Chase Manhattan Corporation, New York, New York, Chemical Banking Corporation, New York, New York, Citicorp, New York, New York, Continental Bank Corporation, Chicago, Illinois, First Chicago Corporation, Chicago, Illinois, The Hongkong and Shanghai Banking Corporation Ltd., Hong Kong, Kellett N.V., Curacao, Netherlands Antilles, HSBC Holding B.V., Amsterdam, the Netherlands, Marine Midland Banks Inc., New York, New York, J.P. Morgan & Co. Incorporated, New York, New York, Manufacturers Hanover Corporation, New York, New York, Midland Bank pic, London, England and Westpac Banking Corporation, Sydney, Australia to acquire indirectly through Liberty Brokerage, Inc., New York, New York the assets of Market Vision Corporation, New York, New York and thereby indirectly to engage in data processing activities. N/A Ameterdam-Rotterdam Bank, N.V. and Stichting Amro, both of Amsterdam, the Netherlands to acquire more than 5% of the shares of Discount Brokers International, Inc., New York, New York and thereby to engage in providing securities brokerage and investment advisory services. 11/28/89 SECTION IV Applications Not Involving ______ Public Comment______ None. 1/ 2/ 4/ Subject to provisions of Community Reinvestment Act. Later of dates specified in newspaper and Federal Register notices. Date specified in newspaper notice; a later date may be specified in the Federal Register notice. N/A - Not Available Date specified in Federal Register notice; a later date may be specified in the newspaper notice. FEDERAL RESERVE BAN KO F PHILADELPHIA Week Ending 11/17/89 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date First S t erling B a n k . Devon, PA to e s t a b l i s h a b r a n c h t o b e l o c a t e d a t 22 N. B r y n M a w r A v e . , Bryn Mawr, M o n t g o m e r y C t y . , PA. 12/18/89 SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date N o ne. SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Comment Period Ending Date Keystone Financial. I n c . . Harrisburg, PA t o e n g a g e d e n o v o t h r o u g h its s u b s i d i a r y , Keystone Financial Leasing Corporation, H a r r i s b u r g , P A in l e a s i n g r e a l o r p e r s o n a l p r o p e r t y , p u r s u a n t t o S e c t i o n 4(c ) ( 8 ) of t h e B a n k H o l d i n g C o m p a n y Act. 12/7/89 SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE N o ne. 1/ S u b j e c t t o p r o v i s i o n s o f C o m m u n i t y R e i n v e s t m e n t Act. *N/A - not yet available. Ten Independence Mail, Philadelphia, PA 19106-1574, (215) 574-6000 Applications Bulletin F o r W e e k E n d i n g N o v e m b e r 18, 1989 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY NONE S E C T I O N II - A P P L I C A T I O N S S U B J E C T T O B O T H NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION R e c e i v e d S e c t i o n 3 ( a ) (1) a p p l i c a t i o n o n N o v e m b e r 14, 1 9 8 9 f r o m E m c l a i r e Financial C o r p . , Emlenton, Pennsylvania, to acquire The Farmers National Bank of Emlenton, Emlenton, Pennsylvania. COMMENT PERIOD ENDING * N - D e c e m b e r 14, 1989 R e c e i v e d S e c t i o n 3(a ) ( 5 ) a p p l i c a t i o n o n N o v e m b e r 17, 1 9 8 9 f r o m G r e a t e r O h i o R i v e r Cor p o r a t i o n , Columbus, Ohio, to ac q u i r e T o n t i F i n a n c i a l C o r p o r a t i o n , C o l u m b u s , Ohi o . * Not Yet Known # S E C T I O N III ~ A P P L I C A T I O N S S U B J E C T TO F E D E R A L R E G I S T E R NOTICE ONLY NONE * # N F - Subject to CRA E x p e c t e d t o e n d a p p r o x i m a t e l y 30 d a y s f r o m t h e d a t e o f r e c e i p t Newspaper Comment Period Federal Register Comment Period Applications Bulletin F o r W e e k E n d i n g N o v e m b e r 18, 1989 SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE R e c e i v e d r e q u e s t o n N o v e m b e r 13, 1 9 8 9 f r o m S e c u r i t y D o l l a r Bank, N i l e s , Ohio, f o r p e r m i s s i o n to e x c e e d its li m i t of i n v e s t m e n t in b a n k p r e m i s e s p e r m i t t e d u n d e r S e c t i o n 2 4 A o f t h e F e d e r a l R e s e r v e Act. R e c e i v e d r e q u e s t o n N o v e m b e r 13, 1 9 8 9 f r o m The U n i o n Ba n k & S a v i n g s Company, Bellevue, Ohio, for p e r m i s s i o n to e x c e e d its limit of i n v e s t m e n t in b a n k p r e m i s e s p e r m i t t e d u n d e r S e c t i o n 2 4 A o f t h e F e d e r a l R e s e r v e Act. * # N F - Subject to CRA E x p e c t e d t o e n d a p p r o x i m a t e l y 30 d a y s f r o m t h e d a t e o f r e c e i p t Newspaper Comment Period Federal Register Comment Period Federal Reserve Bank of Richmond Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date None Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date The Maybaco Company, Baltimore, Maryland, for prior approval to acquire 8% of MNC Financial, Inc., Baltimore, Maryland, and its banks and nonbank subsidiaries.* 12-14-89 Beacon Capital Corporation, Henderson, North Carolina, for prior approval to become a bank holding company through the acquisition of Franklin National Bank, Louisburg, North Carolina, a de novo bank, and Vance National Bank, Henderson, North Carolina, a de novo bank.* 12-16-89 Section III - Applications Subject to Federal Register Notice Application MNC Financial, Inc., Baltimore, Maryland, to engage de novo in the making of equity and debt investments in low income housing construction or rehabilitation projects designed primarily to promote community welfare. The activities would be conducted in Maryland, the District of Columbia, Virginia, West Virginia, Delaware, and Pennsylvania.** South Carolina National Corporation, Columbia, South Carolina, to engage de novo in participating in community development activities by investing in one or more community development projects which will provide safe and affordable rental housing for low- to moderate-income persons in South Carolina. The activity would be conducted in South Carolina. Comment Period Ending Date 11-27-89 Not Yet Available *Application is subject to CRA. **Expiration of comment period specified in the Federal Register. F e d e r a l R e s e rv e Bank o f Richm ond Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None November 20, 1989 Federal Reserve Bank of Atlanta Applications Bulletin Section I - Applications Subject to Newspaper Notice Only Application Sovran Bank/Central South Nashville, Tennessee To merge with Sovran Bank/Chattanooga, Chattanooga, Tennessee; Sovran Bank/Greeneville, Greeneville, Tennessee; Sovran Bank/Memphis, Memphis, Tennessee; Sovran Bank/Tri-Cities, Johnson City, Tennessee, and Sovran Bank/Union City, Union City, Tennessee. Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date First Commercial Bancorporation Boca Raton, Florida Change in control by Jordan E. Ginsburg, to acquire an additional 8.58 percent of the outstanding shares of common stock that will increase his total percentage of ownership to 24.90 percent. BMR Financial Group, Inc. 12-08-89 Atlanta, Georgia Newspaper TO acquire Meigs County Bancshares, Inc., Decatur, Tennessee, and indirectly acquire its subsidiary bank, Meigs County Bank, Decatur, Tennessee. Dahlonega Bancorp, Inc. Dahlonega, Georgia To retain an additional 2.1 percent of Mountain Bank of Georgia, Hiawasee, Georgia, that increased their total percentage ownership to 7 percent (after-the-fact). Dahlonega Bancorp, Inc. 11-30-89 Dahlonega, Georgia Federal Register To merge with First Union Bancorp, Inc., Blairsville, Georgia, and thereby acquire its banking subsidiary, First National Bank of Union County, Blairsville, Georgia. Section III - Application Subject To Federal Register Notice Only Application First National Corporation of Picayune Picayune, Mississippi To engage de novo in insurance activities related to extensions of credit through its proposed new subsidiary, Community Finance, Inc., Picayune, Mississippi, pursuant to section 225.25(b)(8)(ii) of Regulation Y. November 20, 1989 Federal Reserve Bank of Atlanta Applications Bulletin Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application B.H.C. Inc. Arlington, Georgia To redeem 1,225 shares (14.82 percent) of its outstanding comon stock. U.S. Bancshares, Inc. Morristown, Teimessee After-the-fact stock redemption notice to redeem 11,569 shares (10 percent) of its outstanding common stock. F e d e ra l Reserve Bank o f Chicago Section I - Applications Subject to Newspaper Notice Only Type A p p l i cation Branch/24A First Chicago Bank of Lincoln Park Chicago, Illinois 2150 N. Clybourn Avenue C h i c a g o , 1 1 1 inois* Comment Period Ending Date N - ** Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Type A p plication CoC First Sterling Bancorp, Inc. S t e r 1i n g , 111inois W i l l i a m J. Hank FR - 12-1-89 N - 11-28-89 CoC-HC Mid-Iowa, Inc. Panora, Iowa Lar r y Wenzl Ames, Iowa FR N 11-7-89 11-30-89 Y-l Fed One Corp. Griswold, Iowa Griswold State Bancshares, Inc. Griswold, Iowa Griswold State Bank Griswold, Iowa* FR N ★* First Mutual Bancorp of Illinois, Inc. Chicago, Illinois Mutual Trust & Savings Bank Harvey, Illinois* FR N Y-l Tremont B a n c o r p , I n c . Tremont, Illinois The First National Bank in Tremont Tremont, Illinois* FR N - 11-17-89 Y-2 L i n coln Financial Corporation Fort Wayne, Indiana PTC Financial Corporation Peru, Indiana The Peru Trust Company Peru, Indiana* FR - ** N - ** Y-l ** ** ** Fe d e ra l Reserve Bank o f Chicago Section III - Applications Subject to Federal Register Notice Only Comment Period Ending Date Type A p p l i cation Y-4 Fed One Corp. Griswold, Iowa Cass County Insurance Agency, Inc* Griswold, Iowa FR - ** 4(c)(8) Fidelity Financial Corporation of Mich i g a n Birmingham, Michigan M a k i n g and acquiring loans and other extensions of credit F R - ** Section IV - Applications Not Subject to Federal Register Notice Or Newspaper Notice Type A p p l i cation RoS M o r n ingside Development Company Sioux City, Iowa To redeem 1,995 shares of preferred stock RoS O l d Rent-Illinois,Inc* Chicago, Illinois To redeem 17,800 shares of common stock N FR * ** - Newspaper Federal Register Subject to Provisions of Community Reinvestment Act Not available at this time Federal Reserve Bank of St. Louis SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER Application Comment Period Ending Date ^Section 9 of the Federal Reserve Act application by Mid-America Bank of Louisville and Trust Company, Louisville, Kentucky, to establish a branch at 26th and Broadway, Louisville, Kentucky (Newspaper 12-9-89) SECTION II - APPLICATIONS SUBJECT TO BOTH ^Section 3(a)(1) application by Sun Financial Corporation, St. Louis, Missouri, to acquire E Corporation, St. Louis, Missouri (Not available) SECTION IIJ - APPLICATIONS SUBJECT TO FEDERAL REGISTER None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE* OR NEWSPAPER NOTICE None. * This application is subject to CRA FEDERAL RESERVE BANK OF MINNEAPOLIS Section I ~ Applications Subject to ________ Newspaper Notice Only________ Comment Period Ending Date Application North Shore Bank of Commerce Duluth, MN To establish a de novo branch in the Miller Hill Mall, Duluth, MN 12-7-89 Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Application None. Section III - Applications Subject to Federal Register Notice Only Application Comment Period Ending Date None. Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. Federal Reserve Bank o f K ansas City SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION COMMENT PERIOD ENDING DATE ISBC Holding Company, Denver, Colorado, for prior approval to become a bank holding company through the acquisition of 80 percent of the voting shares of Independent State Bank of Colorado.* Not Available El Paso Bancshares, Inc., Monument, Colorado, for prior approval to acquire 100 percent of the voting shares of Mid-Continent Corporation, Inc., Mission Hills, Kansas, parent of Commercial Bank of Leadville, Leadville, Colorado.* Not Available The Farmers State Bank Corporation of Fort Morgan, Fort Morgan, Colorado, for prior approval to become a bank holding company through the acquisition of 80 percent of the voting shares of The Farmers State Bank, Fort Morgan, Colorado.* Not Available Joe N. Basore, Bella Vista, Arkansas, for prior approval to acquire a 49 percent ownership interest of Cedaredge Financial Services, Inc., Cedaredge, Colorado; and Burton 0. George, Berryville, Arkansas, for prior approval to acquire a 49 percent ownership interest of Cedaredge Financial Services, Inc., Cedaredge, Colorado. Not Available William E. Welch, Chillicothe, Missouri, for approval to retain a 11.95 percent ownership interest in Citizens Bancshares Co., Chillicothe, Missouri. Not Available Federal Reserve Bank o f Kansas City Don R. Boyd, Slater, Missouri, for prior approval to increase his proportionate ownership interest in Slater Bancshares, Inc., Slater, Missouri, by 11.06 percent to 28.39 percent; and Sam W. William, Slater, Missouri, for prior approval to increase his proportionate ownership increase by 10.75 percent to 33.74 percent. December 1, 1989 Martin T. Hart, Denver, Colorado, and Lawrence E. Hart, Atchison, Kansas, for approval for both, as a group, to retain 17.35 percent ownership interest in Valley Bancshares, Inc., Atchison, Kansas, and for prior approval for both, as a group, to increase by an additional 6.71 percent. December 1, 1989 SECTION III - APPLICATIONS SOBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION COMMENT PERIOD ENDING DATE Brookside Bancshares, Inc., Tulsa, Oklahoma, for prior approval to acquire 100 percent of the voting shares of Brookside Mortgage Corporation, Tulsa, Oklahoma, and thereby indirectly engage de novo in making, acquiring, and/or servicing loans for itself or for others of the type made by a mortgage company. Not Available SECTION IV - APPLICATIONS NOT SOBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION Chimney Rock Bancorp., Bayard, Nebraska, for prior approval to redeem 152.5 shares of its own voting common stock. *Application is subject to CRA. FEDERAL. RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF NOVEMBER 13, 1989 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE APPLICATION ** NOTICE EXP *Section 3(a)(1) application by M & F Financial Corp., Wilmington, DE, to acquire Texas Bank, Brownwood, TX, and Texas Bank, Weatherford, TX 89/12/06 Change in Control Notice by Thomas Little Whaley, Marshall, TX, to acquire an interest in Firstshares of Texas, Inc., Marshall, TX N/A SECTION I I I - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION Section 4(c)(8) application by PSB Financial Corporation, Many, LA, to continue to engage in providing tax planning and preparation services through H & R Block Franchise, Many, Louisiana NOTICE EXP N/A SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION None. * SUBJECT TO CRA. ** EXPIRATION DATE IS THE DATE SPECIFIED IN THE NEWSPAPER NOTICE ONLY. N/A - NOT AVAILABLE AT THIS TIME. FEDERAL RESERVE BANK OF SAN FRANCISCO Week ending 11/17/89 Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date California Center Bank, Los Angeles, California, made application on 11/15/89 to establish a branch in the vicinity of 12th Street and Broadway, Los Angeles, California. Newspaper: Not Available Section II - Applications Subject to Both Newspaper and Federal Register Notice Wells Fargo & Company, San Francisco, California to merge with Central Pacific Corporation, Bakersfield, California and thereby indirectly acquire American National Bank, Bakersfield, California. West One Bancorp, Bellevue, Washington, to acquire 100 percent of Bank of Tacoma, Tacoma, Washington. Philip R. Akre, M.D., Coronado, California to increase his ownership from 3.55 percent up to 21.98 percent of Crown Bancorp, Coronado, California. Wells Fargo & Company, San Francisco, California to merge with Torrey Pines Group, Sol ana Beach, California, and thereby indirectly acquire Torrey Pines Bank, Sol ana Beach, California. Alameda Bancorporation, Alameda, California, to acquire 100 percent of Westside Bank, Tracy, California. The Mitsui Bank, Limited, Tokyo, Japan to acquire Taiyo Kobe Bank and Trust Company, New York, New York. Fed. Reo: 12/08/89 Newspaper: 12/13/89 Fed. Reg: Not Available Newspaper: Not Available Fed. Reo: 12/05/89 Newspaper: Not Available Fed. Reg: 12/14/89 Newspaper: 12/15/89 Fed. Reg: Not Available Newspaper: 11/30/89 Newspaper: 12/10/89 Fed. Reo: Not vet published. Section II - Applications Subject to Both Newspaper and Federal Register Notice BankAmerica Corporation, San Francisco, California, and Seafirst Corporation, Seattle, Washington, to acquire Woodburn Bancorp, Woodburn, Oregon. * Fed. Reo: Not Available (Wire was just sent 11/20/89.) Newspaper: 11/30/89 David E. Worthen, Bountiful, Utah, to: 1) retroactively increase his ownership to 25.56 percent; and 2) to increase his ownership further to 25.81 percent of Brighton Bancorp, Salt Lake City, Utah. Fed. Reo: Not Available Newspaper: Not Available Section III - Applications Subject to Federal Register Notice Only The Mitsui Bank, Limited, New York, New York, to convert the Taiyo Kobe Bank and Trust Company, Kobe, Japan from a bank to a nonbank trust company. Fed. Rea: First Interstate Bancorp, Los Angeles, California, to engage in asset management and valuation activities through a yet-to-be named subsidiary. Fed. Rea: Not yet published. Not yet published. Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice None * Subject to CRA.
@FedFRASER