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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Applications and Reports Received or Acted on H. 2 1972 No. 45 During the Week Ending November 4, 1972 District 11 Date Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Received Texas Bank and Trust Company of Dallas, Dallas, Texas. * * * * * 4 To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Received The Sandusky Security Bank, Sandusky, Ohio. 4 The Delta Bank, Delta, Ohio. 7 To Withdraw from Membership in the Federal Reserve System Without a Six-Month Notice as Prescribed by Section 9 of the Federal Reserve Act Received South Chicago Savings Bank, Chicago, Illinois. 8 The Clay City Banking Company, Clay City, Illinois. 11-1-72 H. 2 1972 No. 45 - 2— To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received The State Bank of North Jersey, Pine Brook, New Jersey. Branch to be established at the intersection of Route 202 and 287, South of Changebridge Road, Town of Montville, Morris County. The Niles Bank Company, Niles, Ohio. Branch to be established at the northwest corner of the intersection of Heaton-North Road and State Route 82, Warren, Trumbull County. Union Savings Bank of Manchester, Manchester, Michigan. Branch to be established at 9108 Austin Road, unincorporated village of Bridgewater Township, Washtenaw County, Approved ^United Counties Trust Company, Elizabeth, New Jersey. Branch to be established at 242 Main Street, Keansburg, Monmouth County. »Bank of Suffolk County, Stony Brook, New York. Branch to be established on the southeast corner of William Floyd Parkway and Long Island Expressway, unincorporated village of Yaphank, Brookhaven Township, Suffolk County. *The Fidelity Bank, Rosemont, Pennsylvania. Branch to be established at 430 Rhawn Street, Philadelphia. •''American Bank and Trust Company, Lansing, Michigan. Branch to be established at 6420 S. Cedar Street, Lansing. -First American Bank, Memphis, Tennessee. Branch to be established at 147 Jefferson Avenue, Memphis. -Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. H. 2 1972 No. 45 -3- 10 Approved Continued *Sedalia Bank and Trust Company, Sedalia, Missouri. Branches to be established (drive-in facilities) at the following locations: A. East Broadway and Crescent Drive, Sedalia. B. Hughesville, •sV Ve * -k -sV To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act Received North Carolina National Bank, Charlotte, North Carolina. Branch to be established in George Town, Grand Cayman, Cayman Islands. Northwestern National Bank, Minneapolis, Minnesota. Branch to be established at Luxembourg, Grand-Duchy. Approved Irving Trust Company, New York, New York. Branch to be established in George Town, Grand Cayman, Cayman Islands. Manufacturers Hanover Trust Company, New York, New York. Branch to be established in Nassau, Bahamas, First American National Bank of Nashville, Nashville, Tennessee. Branch to be established in George Town, Grand Cayman, Cayman Islands. Continental Illinois National Bank and Trust Company of Chicago, Chicago, Illinois. Branch to be established in Nassau, Bahamas. The Northern Trust Company, Chicago, Illinois. Branch to be established in George Town, Grand Cayman, Cayman Islands. -^Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. Approved Continued United California Bank, Los Angeles, California. Branch to be established in Nassau, Bahamas. Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country Received The First National Bank of Boston, Boston, Massachusetts. Branch to be established in Campinas, Brazil. First National City Bank, New York, New York. Branch to be established in Greece, to be located in the Kypseli area of Athens. H.2 1972 No. 45 -5To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Northern Illinois Bancorp, Inc., Joliet, Illinois, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Louis Joliet Bank, Joliet, Illinois. 11 1 11 **Commerce Financial Corporation, Fort Worth, Texas, for prior approval to acquire 100 per cen (less directors' qualifying shares) of the voting shares of Bank of Commerce, Fort Worth, Texas. Approved **Banc of Maine Corporation, Augusta, Maine, for prior approval to acquire at least 80 per cent of the voting shares of the successor by merger to Bank of Maine, N.A., Augusta, Maine. 10-30-72 11- 3-72 Allied Bancshares, Inc., Houston, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successors to the assets and liabilities of Conroe Bank, Conroe, Texas; Continental Bank, Houston, Texas; and Merchants Bank, Port Arthur, Texas. * * * * * 2 To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received **Unit:ed Jersey Banks, Hackensack, New Jersey, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of United Jersey National Bank of Hudson County, Secaucas, New Jersey, a proposed new bank. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 10-31-72 H.2 1972 No. 45 -6- 4 5 Received Continued First Steuben Bancorp, Inc., Steubenville, Ohio, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to The First National Bank of Hopedale, Hopedale, Ohio. **Bank of Virginia Company, Richmond, Virginia, for prior approval to acquire 100 per cent of the voting shares of Bank of Virginia-Norfolk, Norfolk, Virginia, a de novo bank. 6 First at Orlando Corporation, Orlando, Florida, for prior approval to acquire at least 90 per cent of the voting shares of Guaranty Bank of Miami, Miami, Florida. 6 First at Orlando Corporation, Orlando, Florida, for prior approval to acquire at least 90 per cent of the voting shares of West Dade Bank, Miami, Florida. 6 First Financial Corporation, Tampa, Florida, for prior approval to acquire not less than 80 per cent of the voting shares of The Lee County Bank, Fort Myers, Florida. 6 **Florida Commercial Banks, Inc., Miami, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Florida Commercial Bank of Vero Beach, Vero Beach, Florida, a proposed new bank. 7 First National Financial Corporation, Kalamazoo, Michigan, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to The Commercial Bank of Stambaugh, Stambaugh, Michigan. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 11- 1-72 10-31-72 H.2 1972 No. 45 -7- 10 2 Received Continued First New Mexico Bankshare Corporation, Albuquerque, New Mexico, for prior approval to acquire 56,000 or more of the voting shares of The Clovis National Bank, Clovis, New Mexico. Approved The Chase Manhattan Corporation, New York, New York, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Chase Manhattan Bank of Greater Rochester (National Association) Caledonia, New York, the successor by merger to Bank of Caledonia, Caledonia, New York. 2 First Empire State Corporation, Buffalo, New York, for prior approval to acquire 100 per cent of the voting shares (less directors f qualifying shares) of the successor by merger to The First National Bank of Highland, Highland, New York. 7 Banks of Iowa, Inc., Cedar Rapids, Iowa, for prior approval to acquire 80 per cent or more of the voting shares of First National Bank, Burlington, Iowa. 10 Commerce Bancshares, Inc., Kansas City, Missouri, for prior approval to acquire 80 per cent or more of the voting shares of Commerce Bank of St. Louis, National Association, St. Louis, Missouri, a proposed new bank. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 45 11 6 Approved Continued Texas Commerce Bancshares, Inc., Houston, Texas, for prior approval to acquire 100 per cent of the voting shares (less directors f qualifying shares) of Bank Plaza del Oro, N.A., Houston, Texas, a proposed new bank. Suspended On H.2 No. 34, the Board reported receipt of an application from Barnett Banks of Florida, Inc., Jacksonville, Florida, for prior approval to acquire 90 per cent or more of the voting shares of the Peninsula State Bank, Tampa, Florida. This application is now in suspense at Applicant's request. * * * * * 2 To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **First Empire State Corporation, Buffalo, New York, notification of intent to engage in de_ novo activities (principal or agent, to originate purchase, acquire, invest in and deal in or with, to service, sell, dispose of, and make loans with respect to or upon the security of bonds, mortgages and other securities or instruments relating to real property situated within or without the State of New York) through a subsidiary known as First Empire Realty Credit Corp., in White Plains, Garden City, Canandaigua, Buffalo, and New York, all located in New York. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 10-25-72 H.2 1972 No. 45 - 9— Received Continued New Jersey National Corporation, Trenton, New Jersey, for prior approval to acquire 100 per cent of the shares of Underwood Mortgage & Title Co., Irvington, New Jersey. Northern Virginia Bankshares Incorporated, Arlington, Virginia, for prior approval to acquire 100 per cent of the voting shares of Falls Church Mortgage Corporation, Falls Church, Virginia. **Barnett Banks of Florida, Inc., Jacksonville, Florida, notification of intent to shift a de novo activity (acting as investment and financial adviser to, and administering the day-to-day operations of, Barnett Mortgage Trust, a publicly owned real estate investment trust) from a subsidiary bank to a subsidiary known as Barnett Winston Company, Jacksonville, Florida, a wholly-owned subsidiary. 7 American Fletcher Corporation, Indianapolis, Indiana, for prior approval to acquire the accounts receivable and operating assets of certain subsidiaries of Economy Finance Company, Indianapolisj Indiana. 9 Bank Shares Incorporated, Minneapolis, Minnesota, for prior approval to acquire 100 per cent of the shares of O.C.B. Agency, Inc., Rochester, Minnesota. 9 **First Bank System, Inc., Minneapolis, Minnesota, notification of intent to relocate the office of FBS Financial, Inc., (formerly IDS Credit Corporation) now situated at 2915 Classen Boulevard, Oklahoma City, Oklahoma, to 2525 NW Expressway, Oklahoma City, Oklahoma. FBS Financial, Inc., is a nonbanking subsidiary of First Bank System, Inc., engaged in the following de novo activities (purchasing and **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 11- 3-72 11- 2-72 H.2 1972 No. 45 -10- Received Continued servicing instalment obligations arising from the sale of materials and services for the installation and construction of improvements to real property, from the sale of homes and from the sale of motor vehicles, appliances and other personal property and making direct consumer loans pursuant to licenses granted under small loan laws of Minnesota and Texas; credit life and disability insurance, written by nonaffiliated insurance companies is made available in connection with certain types of instalment obligations). Some of the foregoing activities are conducted through three subsidiary corporations, FBS Homes, FBS Financial, Inc. of Texas, and Empire Loan and Thrift Company. 12 3 **Marine Bancorporation, Seattle, Washington, 11- 1-72 notification of intent to engage in a de novo activity (acting as insurance agent or broker with regard to the the following types of insurance (i) insurance for the holding company and its subsidiaries; (ii) insurance that is directly related to an extension of credit by the bank or bank-related subsidiaries of the holding company; and (iii) insurance that is directly related to the provisions of other financial services by the bank or bank-related subsidiaries of the holding company, or is otherwise sold as a matter of convenience to the purchaser) through its wholly-owned subsidiary, Commerce Credit Company, Seattle, Washington. Approved First Pennsylvania Corporation, Philadelphia, Pennsylvania, for prior approval to acquire the assets of American Loan and Finance Company, Hamilton, Ohio. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 45 -11- 1 Permitted **First National Boston Corporation, Boston, Massachussets, to continue to engage in de novo activities (factoring, commercial financing and leasing of personal property) through a subsidiary known as FNB Financial Company, Atlanta, Georgia. 10-30-72 4 **Equimark Corporation, Pittsburgh, Pennsylvania, 11- 2-72 and its wholly-owned subsidiary Atlantic Management Corporation, Silver Spring, Maryland, to engage in de novo activities (making or acquiring for its own account or for the account of others, loans, and other extensions of credit, and making available to its borrowers, at the borrower's option, group credit life accident and health insurance covering the balance of the borrowers indebtedness) through a subsidiary known as Landmark Finance Corporation, Charleston, South Carolina. 6 **Hamilton Bancshares, Inc., Chattanooga, Tennessee, to engage in de novo activities (providing mortgage banking services) through a subsidiary to be known as Hamilton Mortgage Corporation in Chattanooga, Knoxville, Memphis, and Nashville, Tennessee; and Atlanta and Macon, Georgia. 10-30-72 6 **Jefferson Bancorp, Inc., Miami Beach, Florida, to engage in die novo activities (accounts receivable financing, mortgage financing, factoring, and servicing loans and other extensions of credit) in Orlando, Florida, through its present subsidiary, Jefferson Capital Corporation. 11-2-72 **Palmer Bank Corporation, Sarasota, Florida, to engage in a de novo activity (providing bookkeeping or data processing services for the internal operations of the holding company and its subsidiaries and storing and processing other banking, financial, or related economic data) through a subsidiary to be known as Palmer Data Corporation in Sarasota, Fort Myers, and Naples, Florida. 10-29-72 ^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1972 No. 45 -12- 7 11 Permitted Continued **First Chicago Corporation, Chicago, Illinois, to engage in a d_e novo activity (acting as an investment or financial adviser to the extent of (i) serving as investment adviser, as defined in Section 2(a) (20) of the Investment Company Act of 1940, to investment companies registered under that act; (ii) providing portfolio investment advice to other persons; and (iii) furnishing general economic information and advice, general economic statistical forecasting services and industry studies) through subsidiaries known as First Chicago Fiduciary and Investment Services Corporation, Chicago, Illinois, and Starwood Associates, Inc., New York, New York. **PanNational Group, Inc., El Paso, Texas, notification of intent to engage in a de_ novo activity (leasing of personal property and equipment and acting as agent, broker, or adviser in the leasing of such property) through a subsidiary known as PanNational Leasing, Inc., El Paso, Texas. * 4 10-12-72 * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956 Received **American Financial Corporation, Cincinnati, Ohio, 10-31-72 to acquire the Oak Savings and Loan Company, Cincinnati, Ohio, through a merger with its wholly-owned subsidiary, Hunter Savings Association, Cincinnati, Ohio. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 11- 2-72 i H.2 1972 No. 45 10 -13— Received Continued ^^Arizona-Colorado Land and Cattle Company, Phoenix, Arizona, notification of intent to acquire Rufenacht, Bromagen and Hertz, Inc., Chicago, Illinois, a commodity brokerage firm. 11- 3-72 Permitted **The Sperry and Hutchinson Company, New York, New 11- 4-72 York, to acquire Ter Bush & Powell, Inc., Schenectady, New York, through National Business Services Inc. Ter Bush & Powell is a privately-owned insurance brokerage firm. **Processed by Reserve Bank on behalf of the Board of Governors under delegated authority.
@FedFRASER