The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H. 2 1973 No, 37 Applications and Reports Received or Acted on During the Week Ending September 15, 1973 District Date Ownership Statement Filed Pursuant to Section 13(d) of the Securities Exchange Act Received The Fifth Third Bank, Cincinnati, Ohio (Filed by Cincinnati Financial Corporation Amendment #2) * * * * * To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Withdrawn Delaware Trust Company, Wilmington, New Castle County, Delaware. Approved *FBT Bank, Fremont, Michigan Vc -k i< * 2 * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Received Schenectady Trust Company, Schenectady, New York. Branch to be established at 1562 New Scotland Road, Town of Bethlehem, Albany County. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. 9-13-73 H.2 1973 No. 37 Received Continued 2 Marine Midland Bank-Western, Buffalo, New York. Branch to be established approximately 150 feet West of the intersection of Thistle Drive and Niagara Falls Boulevard, Town of Tonawanda, Erie County. 2 Metropolitan Bank of Syracuse, Syracuse, New York. Branch to be established in Section D, immediately adjacent to Entry 1, in the Fayetteville Mall on the Northwest corner of the intersection of East Genesee and North Burdick Streets, (Unincorporated area) Town of Manlius, Ononaga County. 5 Commonwealth Bank and Trust Company of Virginia, Sterling, Virginiao Branch to be established on U.S. Route 7, (Main Street), Purcellville, Loudoun County. 6 First Georgia Bank, Atlanta, Georgia. Branches to be established at the following locations: 11 4 2 A. To be established at the Redan Village Branch Office, 4806 Redan Road, Dekalb County. B. To be established at the Sandy Springs Branch Office, 5903 Roswell Road, Atlanta. Citizens State Bank of Corpus Christi, Corpus Christi, Texas. Branch to be established across the street from the present Bank building, Corpus Christi. Withdrawn The Farmers State Bank of McClure, Ohio, McClure, Ohio. Branch to be established at 601-603 N. Perry Street, Napoleon, Henry County„ Approved *State Bank of Ontario, Ontario, New York. Branch to be established in the immediate neighborhood of East Main Street and Clinton Avenue, Rochester, Monroe County. *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 37 2 2 - 3 Approved Continued ^Adirondack Trust Company, Saratoga Springs, New York. Branch to be established on the West Side of Route 9, approximately 500 feet North of the intersection of Route 9 and 67 (Malta Corners), Town of Malta, Saratoga County. ^Bankers Trust of Jamestown, Jamestown, New York. to be established at the following locations: Branches A. To be established at 4516 Main Street, Unincorporated Village of Snyder, Jamestown. B. To be established at 570 Dick Road, Town of Cheektowaga, Erie County. 2 ^Manufactures Hanover Trust Company, New York, New York. Branch to be established at the Northwest corner of Stewart Avenue and South Street, Garden City East (Unincorporated Area), Town of Hempstead, Nassau County. 2 ^Bankers Trust of Rochester, Rochester, New York. Branch to be established at the intersection of Commercial Street and Washington Avenue, Village of East Rochester, Monroe County0 7 *Mbunt Clemens Bank, Mount Clemens, Michigan. Branch to be established at 28326 South River Road, Harrison Township, Macomb County. 7 *Warren Bank, Warren, Michigan. Branch to be established at 49600 Van Dyke, Shelby Township, Macomb Township. 11 *First State Bank, Odessa, Texas. Branch to be established immediately North and across a Public Street from the Main Banking House, Odessa. -k -k ~k -k k *Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. To establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act Received The First National Bank of Boston, Boston, Massachusetts To establish a branch in Frankfurt, Germany. First National Bank of Denver, Denver, Colorado. To establish a branch in Georgetown, Grand Cayman, Cayman Islands, B.W.I. Approved Bankers Trust Company, New York, New York. a branch in Singapore. Bankers Trust Company, New York, New York. a branch in Milan, Italy. To establish To establish Bankers Trust Company, New York, New York. To establish a branch in Georgetown, Grand Cayman, Cayman Islands, B.W.I. *>V Vr i<-k Thirty Day Notice of Intention to establish an Additional Branch in a Foreign Country Received The Chase Manhattan Bank, National Association, New York New York. To establish an additional branch in Dominican Republic, to be located in Santo Domingo. First National City Bank, New York, New York. To establish an additional branch in the Philippines to be located iri Mariveles. H.2 1973 No. 37 To Organize, or Invest in, a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant to Section 25 or 25(a) of the Federal Reserve Act Approved Bankers Trust Company, New York, New York. To organize a corporation to be known as Bankers Trust International Corporation, to be located in Miami, Florida. Bankers Trust Company, New York, New York. To organize a corporation to be known as Bankers Trust International Corporation, to be located in Chicago, Illinois. Bankers Trust Company, New York, New York. To organize a corporation to be known as Bankers Trust International Corporation, to be located in Houston, Texas. "k 7 Vc -k "k To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act Approved *FBT Bank, Fremont, Michigan for prior approval to merge with Fremont Bank and Trust Company, Fremont, Michigan. "^Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Received Charterbank, Incorporated, Brockton, Massachusetts, for prior approval to acquire at least 80 per cent of the voting shares of Plymouth-Home National Bank, Brockton, Massachusetts. The Hancock Group, Incorporated, Ouincy, Massachusetts, for prior approval to acquire 100 per cent of the voting shares of Hancock Bank and Trust Company, Quincy, Massachusetts. Approved Financial Data Systems, Inc., Detroit, Michigan, for prior approval to acquire 38 per cent of the common shares and 54 per cent of the cumulative preferred shares of Bank of the Commonwealth, Detroit, Michigan. First Dundee Corporation, Chicago, Illinois, for prior approval to acquire 92.5 per cent or more of the voting shares of The First National Bank of Dundee, Dundee, Illinois. * * * * * To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Received Indian Head Banks Inc., Nashua, New Hampshire, for prior approval to acquire 80 per cent or more of the voting shares of The Keene National Bank, Keene, New Hampshire. Mercantile Bankshares Corporation, Baltimore, Maryland, for prior approval to acquire 80 per cent or more of the voting shares of The Commerce Bank and Trust Company of Maryland, Bethesda, Maryland, a proposed new bank. Alabama Bancorporation, Birmingham, Alabama, for prior approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of the successor by merger to Fort Payne Bank, Fort Payne, Alabama. H.; 19: 6 Received Continued First at Orlando Corporation, Orlando, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Lauderdale Beach Bank, Lauderdale-By-The Sea (P.O. Fort Lauderdale), Florida. 6 First at Orlando Corporation, Orlando, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Wilton Manors National Bank, Wilton Manors (P.O. Fort Lauderdale), Florida. 6 Southeast Banking Corporation, Miami, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Southeast Bank of Westland, Hialeah, Florida, a proposed new bank. 6 United First Florida Banks, Inc., Tampa, Florida, for prior approval to acquire 90 per cent or more of the voting shares of Boynton Beach First National Bank and Trust, Boynton Beach, Florida. 6 United First Florida Banks, Inc., Tampa, Florida, for prior approval to acquire 85 per cent or more of the voting shares of Marine Bank of Kissimmee, Kissimmee, Florida, a proposed new bank. 7 Bezanson Investments, Inc., and MorAmerica Financial Corporation, Cedar Rapids, Iowa, for prior approval to acquire 76 per cent or more of the voting shares of First Trust and Savings Bank, Wheatland, Iowa. 7 First National Financial Corporation, Kalamazoo, Michigan, for prior approval to acquire 100 per cent of the voting shares of the successor by consolidation to The Moline State Bank, Mo line, Michigan. 7 Old Kent Financial Corporation, Grand Rapids, Michigan, for prior approval to acquire 100 per cent of the voting shares (less directorsf qualifying shares) of the successor by merger to National Lumbermanfs Bank and Trust Company, Muskegon, Michigan. 8 First Tennessee National Corporation, Memphis, Tennessee, for prior approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by merger to National Bank of Murfreesboro, Murfreesboro, Tennessee. I H.2 1973 No. 37 8 10 7 - 8 - Received Continued First Tennessee National Corporation, Memphis, Tennessee, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Sumner County Bank and Trust Company, Gallatin, Tennessee. Wyoming Bancorporation, Cheyenne, Wyoming, for prior approval to acquire 95 per cent of the voting shares of Bank of Wyoming, N.A., Sheridan, Wyoming, a proposed new bank. Approved Old Kent Financial Corporation, Grand Rapids, Michigan, for prior approval to acquire 100 per cent of the voting shares of the successor by consolidation to Fremont Bank and Trust Company, Fremont, Michigan. 8 Mercantile Bancorporation Inc., St. Louis, Missouri, for prior approval to acquire at least 90 per cent of the voting shares (plus directors1 qualifying shares) of Cape State Bank and Trust Company, Cape Girardeau, Missouri. 8 Mercantile Bancorporation Inc., St. Louis, Missouri, for prior approval to acquire at least 90 per cent of the voting shares (plus directors' qualifying shares) of United Bank of Farmington, Farmington, Missouri. 10 United Missouri Bancshares, Inc., Kansas City, Missouri, for prior approval to acquire 80 per cent or more (plus directors' qualifying shares) of the voting shares of Hickman Mills Bank & Trust Co., Kansas City, Missouri. 10 Wyoming Bancorporation, Cheyenne, Wyoming, for prior approval to acquire indirectly at least 75 per cent of the voting shares of Security Bank & Trust Company, Casper, Wyoming, through the direct acquisition of at least 80 per cent of the voting shares of Security Bankshares, Inc., Casper, Wyoming. 6 Denied Southeast Banking Corporation, Miami, Florida, reconsideration of the Board's Order dated May 29, 1973, which denied Southeast's application to acquire 80 per cent or more of the voting shares of Deland State Bank, De Land, Florida. H.2 1973 No.37 Withdrawn On H.2 No. 16, the Board reported receipt of an application from Financial General Bankshares, Inc.; The Morris Plan Corporation; and Tennessee Shares Corporation, all of Washington, D.C., for prior approval to acquire 75,000 additional voting shares of Valley Fidelity Bank and Trust Company, Knoxville, Tennessee. In a letter dated August 29, 1973, Applicant requested that this application be withdrawn. 6 * 1 * * * A To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Received **Industrial National Corporation, Providence, Rhode Island, notification of intent to continue to engage in <te novo activities (consumer finance; insurance underwriting of credit life insurance, credit accident and health insurance, and insurance agency or brokerage in connection with selling to consumer finance borrowers credit life insurance, credit accident and health insurance, and property damage insurance for collateral securing loans made to borrowers) at Suite 517-C, North Harbor City Boulevard, Melbourne, Florida, through a subsidiary, Southern Discount Company. 2 **First National City Corporation, New York, New York, notification of intent to engage in a de novo activity (the origination and placement of residential and income property mortgage loans with institutional investors, origination of single family and multi-family construction loans, and financing the purchase of mobile homes) in Phoenix and Tucson, Arizona, through its subsidiary, Advance Mortgage Corporation, Southfield, Michigan. 2 First National City Corporation, New York, New York, for prior approval to acquire some of the assets of Capital Financial Services, Inc., #21, Portland, Oregon. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 9-12-73 9- 6-73 H.2 1973 No. 37 3 W - 10 - Received Continued **Heritage Bancorporation, Cherry Hill, New Jersey, notification of intent to engage in de novo activities (providing mortgage financing on commercial and residential construction, and vacant land properties; servicing such mortgage loans including conventional, FHA/VA, and commercial loans; and acting as sales agent for credit life insurance and credit accident and health insurance on mortgage loans originated or serviced by said company) in Pittsburgh, Pennsylvania, through its subsidiary, Heritage Mortgage Finance Company. 9-12-73 3 **Heritage Bancorporation, Cherry Hill, New Jersey, notification of intent to engage in de novo activities (providing mortgage financing on commercial and residential construction, and vacant land properties; servicing such mortgage loans including conventional, FHA/VA, and commercial loans; and acting as sales agent for credit life insurance and credit accident and health insurance on mortgage loans originated or serviced by the said company) in Haddonfield, New Jersey, through its subsidiary, Heritage Mortgage Finance Company. 9-13-73 4 **Centran Bancshares Corporation, Cleveland, Ohio, notification of intent to engage in de novo activities (making consumer finance loans (including loans to individuals secured by first mortgages and second mortgages on residential property), purchases of installment sales contracts; and selling credit life insurance and health and accident insurance at the request of borrowers in connection with extensions of credit) in Oklahoma City, Oklahoma, through its wholly-owned subsidiary, Colonial Financial Service, Inc., Birmingham, Alabama. 9-13-73 4 **Centran Bancshares Corporation, Cleveland, Ohio, 9-14-73 notification of intent to engage in de novo activities (making consumer finance loans (including loans to individuals secured by first mortgages and second mortgages on residential property), purchases of installment sales contracts; and selling credit life insurance and health and accident insurance at the request of borrowers in connection with extensions of credit) in Tulsa, Oklahoma, through its wholly-owned subsidiary, Colonial Financial Service, Inc., Birmingham, Alabama. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No.37 5 - 11 Received Continued **United Carolina Bancshares Corporation, Whiteville, North Carolina, notification of intent to engage in d<£ novo activities (making or acquiring, for its own account and for the account of others, loans and other extensions of credit to finance the acquisition or substantial improvement of real properties both residential and business, including, but not limited to, the purchase and sale thereof, such as would be made by a mortgage company; making or acquiring, for its own account and for the account of others, second mortgage loans secured by real property, both residential and commercial to finance substantial improvements, mortgage assumptions, or for any other worthwhile purpose; servicing loans and other extensions of credit for any person; and acting as agent in the sale of credit life, credit disability and mortgage redemption insurance that is directly related to any extension of credit by the corporation) in Fayetteville, North Carolina, through its subsidiary, UCB Mortgage Corporation. 9-11-73 6 **City National Bank Corporation, Miami, Florida, notification of intent to shif t a cle novo activity (performing certain data processing activities) from its subsidiary bank, City National Bank of Miami, Miami, Florida, to the holding company, and performing these activities in Coral Gables, Florida. 9-11-73 6 **First at Orlando Corporation, Orlando, Florida, notification of intent to engage in de novo activities (conducting the business of a mortgage company, including the making or acquiring, for its own account or for the account of others, loans and other extensions of credit; servicing loans and other extensions of credit for any person) in Melbourne, Florida, through its subsidiary, Sunbank Mortgage Company. 9-10-73 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 17 7 8 12 12 2 -12Received Continued Continental Illinois Corporation, Chicago, Illinois, for permission to retain the shares of Republic Realty Mortgage Corporation, Chicago, Illinois. Central Bancompany, Jefferson City, Missouri, for prior approval to acquire the shares of The Guaranty Trust Company of Missouri and the assets of Harrison L. Winter and Associates, both of Clayton, Missouri. **Alameda Bancorporation, Inc., Alameda, California, notification of intent to engage in de novo activities (leasing, servicing, and management of leases generated by Alameda First National Bank; and the procuring and servicing of leases originated by First Leasing Corporation) in San Jose, California, through a subsidiary, First Leasing Corporation. 9- 4-73 Standard & Chartered Banking Group Limited, London, EC4N7AB, England, for prior approval to acquire 30 per cent of the voting shares of Mocatta Metals Inc., New York, New York. Approved First National City Corporation, New York, New York, for prior approval to acquire all of the voting shares of Gateway Life Insurance Company, Phoenix, Arizona. 3 Philadelphia National Corporation (formerly PNB Corporation), Philadelphia, Pennsylvania, for approval to retain 80 per cent of the common stock of Congress Factors Corporation, Philadelphia, Pennsylvania. 6 The Alabama Financial Group, Inc., Birmingham, Alabama, for prior approval to acquire all of the voting shares of Southern States Life Insurance Company, Birmingham, Alabama. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 37 2 -13Permitted **First National City Corporation, New York, New York, 9-15-73 to engage in de_ novo activities (making consumer installment personal loans, purchasing consumer sales finance contracts; and acting as broker for the sale of consumer credit related life-accident and health insurance and consumer credit related property and casualty insurance; if this proposal is effected, Nationwide Financial Corporation of Oregon will offer to sell insurance as follows: (a) group credit lifeaccident and health insurance to cover the outstanding balances of loans to borrowers in the event of their death, or, to make the contractual monthly payments on the loans in the event of the borrower's disability; (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements with Nationwide; further, in regard to the sale of credit related insurance, Nationwide Financial Corporation of Oregon will not offer insurance counseling) in Portland, Oregon, through its subsidiary, Nationwide Financial Corporation of Oregon, 3 **Fidelity Corporation of Pennsylvania, Rosemont, Pennsylvania, to engage in de novo activities (loan development and servicing) through a subsidiary to be known as CCT-Financial Services Corporation, New Haven, Connecticut. 9-14-73 5 **Bank of Virginia Company, Richmond, Virginia, to engage in de novo activities (making loans or extensions of credit such as would be made by a finance company, and acting as agent for credit life, accident and health insurance arising out of business conducted) in Hopewell, Virginia, through its subsidiary, The Budget Plan Company of Virginia (a subsidiary of General Finance Service Corporation). 9-14-73 5 **Dominion Bankshares Corporation, Roanoke, Virginia, to engage in de novo activities (originating residential, commercial and industrial mortgage loans, for its own account but principally for sale to others; servicing such loans for others; and writing credit life, credit accident and health, and mortgage redemption insurance in connection with such mortgage loans) in Virginia Beach, Virginia, through its subsidiary, Metropolitan Mortgage Fund, Inc. 9-13-73 **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No. 37 5 - 14Permitted Continued **First Virginia Bankshares Corporation, Falls Church, Virginia, to relocate de_ novo activities (operating as a finance company, including the extension of small personal loans; financing retail installment sales; granting real estate loans, primarily second mortgage loans; and acting as agent or broker in the sale of property insurance, credit life insurance and credit accident and health insurance only to its loan customers) from 506 G Street to 2560 B. Tara Lane, Brunswick, Georgia, through its subsidiary, First General Finance Systems, Inc. (a subsidiary of First General Financial Services, Inc.). 9- 9-73 6 **First Amtenn Corporation, Nashville, Tennessee, to 9 -9-73 engage in de novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a mortgage, finance, credit card, or factoring company; and servicing loans and other extensions of credit for any person) through its subsidiary, First Amtenn Financial Corporation, Nashville, Tennessee. 6 **Third National Corporation, Nashville, Tennessee, 9-13-73 to engage in de novo activities (making of installment loans direct to borrowers and discounting of installment notes receivable issued to dealers by purchasers; and acting as insurance agent or broker in selling insurance to borrowers from such finance subsidiary, to include credit life insurance, credit accident and health insurance, and property damage insurance for collateral supporting loans made by such finance subsidiary) in Starkville, Mississippi, through its subsidiary, Friendly Finance, Incorporated. 6 **Third National Corporation, Nashville, Tennessee, to engage in de novo activities (conducting the business of a mortgage company including: making or acquiring, for its own account or for the account of others, loans and other extensions of credit; servicing loans and other extensions of credit for any person; and acting as agent or broker in the sale of mortgage redemption insurance, credit life, accident and health insurance) in Chattanooga, Tennessee, through its subsidiary, John W. Murphree Company. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 9-15-73 11.2 1973 No.37 7 - 15 Permitted Continued **The Jacobus Company and Inland Financial Corporation, both in Milwaukee, Wisconsin, to engage in a de novo activity (leasing of equipment and machinery for business, industry, and construction on a full payout basis) in Wauwatosa, Wisconsin, through a subsidiary, Inland Leasing Corporation. 9-9-73 10 **Council Grove Bancshares, Council Grove, Kansas, to engage in a <de novo activity (the sale of credit life insurance and credit accident and health insurance) in Council Grove, Kansas. 9-13-73 12 **Coiranercial Security Bancorporation, Ogden, Utah, to engage in a de novo activity (leasing personal property and equipment, or acting as agent, broker, or adviser in the leasing of such property) in Salt Lake City, Utah, through a subsidiary, CSB Leasing, Inc. 9-14-73 12 **First Security Corporation, Salt Lake City, Utah, to relocate de novo activities (making or acquiring, for its own account or for the account of others, loans, mortgage loans, and other extensions of credit such as are normally made by a mortgage company; and servicing such accounts for itself and for others) from 917 West Idaho Street, Boise, Idaho, to 6431 Fairview Avenue, also known as Unit No. 101, Linda Vista Plaza Shopping Center, Boise, Idaho, through a subsidiary, Utah Mortgage Loan Corporation. 9-13-73 * * * * * 2 To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956 Received **The Sperry and Hutchinson Company, New York, New York, 9-13-73 notification of intent to acquire Financial Associates, Inc. and Financial Associates Service Corporation, Portland, Oregon, through a subsidiary. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. H.2 1973 No.37 7 7 - 1 6 - Received Continued **Marcor Inc., Chicago, Illinois, notification of intent to acquire Liberty Industries, Inc., Cincinnati, Ohio, which is engaged in waste paper and metal scrap purchases and sales; and contract trash hauling, through a subsidiary, Container Corporation of America, Chicago, Illinois. 9-12-73 **Sterling Precision Corporation, West Palm Beach, Florida, notification of intent to acquire Marion Auto Parts, Inc., Marion, Ohio, and Delaware County Supply, Inc., Delaware, Ohio, whose principal line of business is the distribution of automotive replacement parts. **4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. 9-11-73
@FedFRASER