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RESEARCH library ANNOUNCEMENT BOA R D CfFj GcIvE&N^k^ ^ OF THE .. ,, . F E D E R A L R£gjERVE', #Y;S f J-3T ' H.2, 1991, No. 38 Ac t i o n s of the Board, its Staff, and the Federal R e s e r v e Banks; A p p l i c a t i o n s and R e p o r t s R e c e i v e d D u r i n g the W e e k E n ding Septe m b e r 21, 1991 ACTIONS TAKEN BY THE BOARD OF GOVERNORS BANK HOLDING COMPANIES NCNB Corporation, Charlotte, North Carolina — announcement of public meetings to be held in Charlotte, North Carolina, Richmond, Virginia, Atlanta, Georgia, and Dallas, Texas, concerning the application to acquire C&S Sovran Corporation, Atlanta, Georgia, and Norfolk, Virginia. Approved, September 16, 1991. DISCOUNT RATES Federal Reserve Bank of St. Louis — decrease to 5 percent from 5-1/2 percent by the Federal Reserve Bank of St. Louis, effective September 17, 1991. Approved, September 16, 1991. ENFORCEMENT First Cumberland Bank, Madison, Tennessee, written agreement dated September 6, 1991, with the Commissioner of Financial Institutions of the State of Tennessee, Nashville, Tennessee, and the Federal Reserve Bank of Richmond. Announced, September 17, 1991. REGULATIONS AND POLICIES Expedited Funds Availability Act — the Congress. Approved, September 17, 1991. 1991 report to Regulation C — revisions to the Home Mortgage Disclosure Act, involving the use of 1990 census tract numbers to identify property location and other technical changes (Docket R-0736). Approved, September 16, 1991. H .2 SEPTEMBER 16, 1991 PAGE 2 TO SEPTEMBER 20, 1991 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; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC Richmond Central Fidelity Bank, Richmond, Virginia — to establish a branch at the intersection of Lynnhaven Parkway and Virginia Beach Boulevard, Virginia Beach, Virginia. Approved, September 17, 1991. New York Chemical Bank, New York, New York — to establish a branch at LaGuardia Airport, Central Terminal Building §89, Flushing, New York. Approved, September 17, 1991. Chicago Comerica Bank - Detroit, Michigan — to establish a branch at the northwest corner of 14 Mile and Haggerty, Oakland, Michigan. Approved, September 17, 1991. Chicago First of America Bank - Central, Lansing, Michigan — to establish a branch at Independence Village Retirement Apartment Complex, 2530 Marfitt, East Lansing, Michigan. Approved, September 16, 1991. Chicago First State Bank, Manchester, Iowa — to establish an offsite electronic facility at Economart Store, 112 South 12th Street. Approved, September 16, 1991. Secretary Manufacturers Hanover Trust Company, New York, New York — to establish automated teller machines at 1 Metrotech Center, Brooklyn, New York. Approved, September 19, 1991. Secretary Provident Bank, Cincinnati, Ohio — to relocate two branches in Cincinnati, Ohio, to 11525 Springfield Pike. Approved, September 18, 1991. Chicago State Bank of Viroqua, Viroqua, Wisconsin — to establish a branch at 1230 North Main Street. Approved, September 16, 1991. H .2 SEPTEMBER 16, 1991 PAGE 3 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Richmond United Bank and Trust Company of Maryland, Upper Marlboro, Maryland -- to establish a branch at 6712 Chesapeake Center Drive, Glen Burnie, Maryland. Approved, September 17, 1991. BANK HOLDING COMPANIES Staff Director BS&R Abbot Bank Group, Inc., Alliance, Nebraska — relief from commitment to divest or terminate the insurance agency activities of The Abbott Bank, Hyannis, Nebraska. Granted, September 16, 1991. Richmond American National Bankshares, Inc., Danville, Virginia — to acquire Danville Community Development Corporation. Approved, September 19, 1991. Staff Director BS&R Banc One Corporation, Columbus, Ohio — relief from commitment to divest or terminate the insurance agency activities of Banc One Franklin, Franklin, Indiana. Approved, September 16, 1991. Dallas Bay Bancshares, Inc., La Porte, Texas — to establish BNB Savings Association, La Porte, Texas, which was formed to acquire certain assets and assume certain liabilities of Bayshore Federal Savings and Loan Association. Permitted, September 20, 1991. Richmond Carolina First BancShares, Inc., Lincolnton, North Carolina — to acquire Carolina First Interim Federal Savings and Loan Association, Lincolnton, North Carolina, which was formed to acquire certain assets and assume certain liabilities of the Lincolnton, North Carolina, branch of Southeastern Federal Savings Bank, Charlotte, North Carolina. Approved, September 20, 1991. H.2 SEPTEMBER 16, 1991 PAGE 4 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Richmond Carolina First BancShares, Inc., Lincolnton, North Carolina — proposal that Lincoln Bank of North Carolina, purchase the assets and assume the liabilities of Carolina First Interim Federal Savings and Loan Association. Approved, September 20, 1991. S t . Louis Central Arkansas Bancshares, Inc., Malvern, Arkansas — to acquire Hot Springs Federal Savings and Loan Association, Hot Springs, Arkansas, and Arkadelphia Federal Savings and Loan Association, Arkakelphia, Arkansas, which were formed to purchase certain assets and assume the deposit liabilities of the Hot Springs and Arkadelphia, Arkansas, branches of Savers Savings Association, A Federal Savings and Loan Association, Little Rock, Arkansas. Approved, September 20, 1991. S t . Louis Central Bancompany, Inc., Jefferson City, Missouri — to acquire Nixa Bank, Nixa, Missouri. Approved, September 19, 1991. Richmond Commercial BancShares, Incorporated, Parkersburg, West Virginia — to acquire The Dime Bank, Marietta, Ohio. Approved, September 19, 1991. Minneapolis Community First Bankshares, Inc., Fargo, North Dakota — to acquire Community First North Dakota Bankshares, Inc. Approved, September 18, 1991. Richmond Crestar Financial Corporation, Richmond, Virginia — proposal that Crestar Bank purchase certain assets and assume certain liabilities of CRFC Interim Savings Bank. Approved, September 20, 1991. H .2 SEPTEMBER 16, 1991 PAGE 5 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Richmond Crestar Financial Corporation, Richmond, Virginia — to acquire CRFC Interim Savings Bank, which was formed to acquire certain assets and assume certain liabilities of United Federal Savings Bank, Vienna, Virginia. Approved, September 20, 1991. Staff Director BS&R Family Bancorp, Grants Pass, Oregon — relief from commitment concerning permissible activities of Family Bank of Commerce. Granted, September 16, 1991. Kansas City First Bank Holding Company, of Colorado, Lakewood, Colorado — to acquire First Bank at 84th/Pecos, N.A., Federal Heights, Colorado. Withdrawn, September 17, 1991. Richmond First Citizens BancShares, Inc., Raleigh, North Carolina — to acquire First Citizens Interim Savings Bank, Inc., Raleigh, North Carolina, which was formed to acquire certain assets and assume certain liabilities of the Concord and Waynesville, North Carolina, branches of Southeastern Federal Savings Bank, Charlotte, North Carolina. Approved, September 20, 1991. Richmond First Citizens BancShares, Inc., Raleigh, North Carolina — proposal that First-Citizens Bank & Trust Company purchase the assets and assume the liabilities of First Citizens Interim Savings Bank, Inc. Approved, September 20, 1991. Richmond First Commercial Holding Company, North Carolina -to acquire First Commercial Savings Bank, Hendersonville, North Carolina, which was formed to acquire certain assets and assume certain liabilities of the Asheville, Burnsville, and Hendersonville, North Carolina, branches of Southeastern Federal Savings Bank, Charlotte, North Carolina. Approved, September 20, 1991. H.2 SEPTEMBER 16, 1991 PAGE 6 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Richmond First Commercial Holding Company, Asheville, North Carolina — proposal that First Commercial Bank purchase the assets and assume the liabilities of First Commercial Savings Bank, Hendersonville, North Carolina. Approved, September 20, 1991 . S t . Louis First Holmes Corporation, Lexington, Mississippi — to acquire up to 5.38 percent of Citizens Financial Corporation, Belzoni, Mississippi. Withdrawn, September 19, 1991. Minneapolis First National Bank at St. James Employee Stock Ownership Plan and Trust, St. James, Minnesota — to acquire The First National Agency at St. James. Returned, September 16, 1991. Kansas City First National of Nebraska, Inc., Omaha, Nebraska -to acquire Pathfinder Bancshares, Inc., Fremont, Nebraska. Approved, September 20, 1991. Staff Director BS&R First of America Bank Corporation, Kalamazoo, Michigan — proposal that First America Bank Northeast Illinois, N.A., Libertyville, Illinois, purchase the assets and assume the liabilities of First of America Federal Interim Savings Bank, Waukegan, Illinois, which was established to acquire certain assets and assume deposit liabilities of Home Federal Savings Bank, F.A. Approved, September 16, 1991. Secretary First of America Corporation, Kalamazoo, Michigan — proposal that First of America Bank - Indianapolis, Indianapolis, Indiana, purchase the assets and assume the liabilities of Shelby Federal Savings Bank. Approved, September 17, 1991. H .2 SEPTEMBER 16, 1991 PAGE 7 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta First Sterling Bancshares, Inc., Winter Haven, Florida — to establish First Sterling Federal Savings Bank, which was formed to acquire certain assets and assume certain liabilities of the Auburndale, Florida, branch of American Pioneer Federal Bank, Orlando, Florida. Approved, September 20, 1991 . Atlanta First Sterling Bancshares, Inc., Florida — proposal that First purchase the assets and assume First Sterling Federal Savings Approved, September 20, 1991. S t . Louis FirstArkansas Bancshares, Inc., Jacksonville, Arkansas — to acquire FJBT Federal Savings and Loan Association, which was formed to purchase certain assets and assume the deposit liabilities of the Jacksonville, Arkansas, branch of Savers Savings Association, A Federal Savings and Loan Association, Little Rock, Arkansas. Approved, September 20, 1991. S t . Louis FirsTier Financial, Inc., Omaha, Nebraska — to engage de novo in credit related insurance through FirsTier Insurance, Inc. Permitted, September 18, 1991. Minneapolis Fischer Corporation, Lewiston, Minnesota — acquire Ostrander Bancshares, Inc. Approved, September 16, 1991. Richmond FNB Corp., Asheboro, Narth Carolina — to acquire FNB Interim Federal Savings Bank, which was formed to acquire certain assets and assume certain liabilities of the Asheboro, North Carolina, branch of Southeastern Federal Savings Bank, Charlotte, North Carolina. Approved, September 20, 1991. Philadelphia Fulton Financial Corporation, Lancaster, Pennsylvania — to acquire Great Valley Savings Bank, Reading, Pennsylvania. Approved, September 18, 1991. Winter Haven, Sterling Bank the liabilities of Bank. to H .2 SEPTEMBER 16, 1991 PAGE 8 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago G.R. Bancorp, Ltd., Grand Ridge, Illinois — to acquire The First National Bank of Grand Ridge. Returned, September 16, 1991. Staff Director BS&R High Point Bank Corporation, High Point, North Carolina — relief from commitment to divest or terminate insurance agency activities of High Point Bank and Trust Company. Granted, September 16, 1991. Chicago Honor Bancorp, Inc., Honor, Michigan — to acquire Honor Consultive Services, Inc., Lake Orion, Michigan. Approved, September 19, 1991. New York HUBCO, Inc., Union City, New Jersey — proposal that Hudson United Bank purchase the assets and assume the liabilities of HUB Federal Interim Savings and Loan Association, Clifton, New Jersey, which was formed to acquire certain assets and assume the deposit liabilities of Center Savings & Loan Association, F.A. Approved, September 20, 1991. Staff Director BS&R KeyCorp, Albany, New York, and Key Pacific Bancorp, Anchorage, Alaska — relief from commitment to divest or terminate the insurance agency activities of Key Bank of Puget Sound, Seattle, Washington. Granted, September 16, 1991. Kansas City King Bancshares, Inc., Kingman, Kansas — Kingman Savings and Loan Association. Returned, September 19, 1991. Staff Director BS&R Merchants National Corporation, Indianapolis, Indiana — relief from commitment to divest or terminate the insurance agency activities of Batesville State Bank, Batesville, Indiana. Approved, September 16, 1991. to acquire H .2 SEPTEMBER 16, 1991 PAGE 9 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Staff Director BS&R Merchants National Corporation, Indianapolis, Indiana — relief from commitment to divest or terminate the insurance agency activities of Madison Bank & Trust Company. Approved, September 16, 1991. Secretary Morgan Community Bancorp, Inc., Jacksonville, Illinois — to acquire First of America Bank Springfield, N.A., Springfield, Illinois. Approved, September 19, 1991. Richmond National Banc of Commerce Company, Charleston, West Virginia — to acquire Wood County Bancorporation, Inc., Parkersburg, West Virginia. Approved, September 19, 1991. Staff Director BS&R Norwest Corporation, Minneapolis, Minnesota — modification of commitments concerning application to engage in certain securities activities through Norwest Investment Services, Inc. Approved, September 16, 1991. S t . Louis One National Bancshares, Inc., Little Rock, Arkansas — to acquire One Federal Savings and Loan Association, which was formed to purchase certain assets and assume deposit liabilities of the Kavanaugh, Cantrell, Markham, and Rodney Parham branches in Little Rock. Approved, September 20, 1991. Atlanta Riverside Banking Company, Fort Pierce, Florida — to establish Riverside Interim Federal Savings Bank, which was formed to acquire certain assets and assume certain liabilities of First Citizens Savings and Loan Association. Approved, September 20, 1991. Atlanta Riverside Banking Company, Fort Pierce, Florida — proposal that Riverside National Bank of Florida purchase the assets and assume the liabilities of Riverside Interim Federal Savings Bank. Approved, September 20, 1991. H .2 SEPTEMBER 16, 1991 PAGE 10 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Seacoast Banking Corporation of Florida, Stuart, Florida — proposal that First National Bank and Trust Company of Treasure Coast purchase the assets and assume the liabilities of Seacoast Interim Federal Savings and Loan Association. Approved, September 20, 1991. Atlanta Seacoast Banking Corporation of Florida, Stuart, Florida — to establish Seacoast Interim Federal Savings and Loan Association, which was formed to acquire certain assets and assume certain liabilities of ten branch offices of American Pioneer Federal Savings Bank, Orlando, Florida. Approved, September 20, 1991. San Francisco Security Pacific Corporation, Los Angeles, California — to acquire Mitsui Manufacturers Bank, Los Angeles, California. Withdrawn, September 16, 1991. Cleveland SNB Corp., Greenville, Ohio — to acquire certain assets and assume certain liabilities of Arcanum Federal Savings Association, Arcanum, Ohio. Approved, September 20, 1991. S t . Louis Union of Arkansas Corporation, Little Rock, Arkansas — to acquire Citizens Federal Savings and Loan Association, which was formed to purchase certain assets and assume deposit liabilities of the Little Rock, Arkansas - University; North Little Rock, Arkansas - McCain; and Russellville, Arkansas, branches of Savers Savings Association, A Federal Savings and Loan Association. Approved, September 20, 1991. S t . Louis West - Ark Bancshares, Inc., Clarksville, Arkansas — to acquire CV Federal Savings and Loan Association, Clarksville, Arkansas, which was formed to purchase certain assets and assume deposit liabilities of The Clarksville, Arkansas, branch of Savers Savings Association, A Federal Savings and Loan Association, Little Rock, Arkansas. Approved, September 20, 1991. H .2 SEPTEMBER 16, 1991 PAGE 11 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES San Francisco West One Bancorp, Boise, Idaho, and West Bancorp, Washington, Bellevue, Washington — to engage in trust company activities through West One Trust Company, Washington, Bellevue, Washington. Permitted, September 18, 1991. Staff Director BS&R West Point Bancorp, Inc., St. Joseph, Missouri, and Dakota Bancshares, Inc. — relief from commitment to divest or terminate the insurance agency activities of Dakota County State Bank, South Sioux City, Nebraska. Granted, September 16, 1991. Minneapolis Western Bancorporation, Inc., Duluth, Minnesota — acquire Western National Bank of Duluth. Approved, September 20, 1991. Atlanta Wiregrass Bancorporation, Inc., Ashford, Alabama — to acquire Barbour County Bank, Clayton, Alabama. Approved, September 16, 1991. to BANK MERGERS Dallas Bayshore National Bank of La Porte, La Porte, Texas - to merge with Bayshore Federal Savings and Loan Association. Approved, September 20, 1991. Cleveland C&D Bank Co., Marietta, Ohio — Dime Bank. Approved, September 19, 1991. Richmond Crestar Bank, Richmond, Virginia — to purchase the assets and assume the liabilities of CRFC Interim Savings Bank. Approved, September 20, 1991. Atlanta First National Bank and Trust Company of the Treasure Coast, Stuart, Florida, to merge with the branches of American Pioneer Federal Savings Bank, Orlando, Florida. Approved, September 20, 1991. to merge with The H .2 SEPTEMBER 16, 1991 PAGE 12 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK MERGERS Atlanta Riverside National Bank of Florida, Fort Pierce, Florida — to merge with First Citizens Savings and Loan Association. Approved, September 20, 1991. BANK PREMISES Chicago Comerica Bank - Detroit, Detroit, Michigan — investment in bank premises. Approved, September 17, 1991. St. Louis Commerce Warren County Bank, Warrenton, Missouri — investment in bank premises. Approved, September 18, 1991. Cleveland St. Henry Bank, St. Henry, Ohio — premises. Approved, September 19, 1991. Kansas City Webb City Bank, Webb City, Missouri — bank premises. Approved, September 17, 1991. investment in bank investment in CAPITAL STOCK Cleveland Farmers Citizens Bank, Bucyrus, Ohio — shares. Approved, September 16, 1991. redemption of Kansas City The James Stuart, Jr., Family Partnership, Lincoln, Nebraska — redemption of shares. Approved, September 20, 1991. Kansas City Mount Hope Bancshares, Inc., Mount Hope, Kansas — redemption of shares. Approved, September 16, 1991. St. Louis Tritten Bancshares, Inc., St. Robert, Missouri — redemption of shares. Approved, September 16, 1991. H .2 SEPTEMBER 16, 1991 PAGE 13 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Chicago Kingston State Bank, Kingston, Michigan -- change in bank control. Permitted, September 18, 1991. Dallas Security Bank of Arlington, Arlington, Texas — change in bank control. Returned, September 20, 1991. S t . Louis Tritten Bancshares, Inc., St. Robert, Missouri -change in bank control. Permitted, September 17, 1991. COMPETITIVE FACTORS REPORTS Atlanta Bank of North America, Fort Lauderdale, Florida, proposed acquisition of the assets and assumption of the deposits of the Tamarac, Florida, branch of Intercontinental Bank, Miami, Florida — report on competitive factors. Submitted, September 20, 1991. Philadelphia Beneficial National Bank (USA), Wilmington, Delaware, proposed purchase of certain assets and assumption of certain liabilities of Beneficial National Bank USA, Peapack, New Jersey -- report on competitive factors. Submitted, September 20, 1991. Philadelphia Farmers National Bank of Newville, Newville, Pennsylvania, proposed merger with Farmers Interim National Bank -- report on competitive factors. Submitted, September 16, 1991. Richmond First Federal Savings and Loan Association of Georgetown, Georgetown, South Carolina, proposed merger with four Myrtle Beach branches of The First Savings Bank, F.S.B., Greenville, South Carolina — report on competitive factors. Submitted, September 18, 1991. Atlanta First Financial Corporation, M t . Juliet, Tennessee, proposed acquisition of First Bank & Trust — report on competitive factors. Submitted, September 16, 1991. H .2 SEPTEMBER 16, 1991 PAGE 14 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Chicago First National Bank of Sterling, Sterling, Illinois, proposed merger with Rock Falls National Bank, Rock Falls, -- report on competitive factors. Submitted, September 16, 1991. Secretary First Security Bank of Utah, N.A., Ogden, Utah, proposed merger with Utah Bank and Trust, Bountiful, Utah — report on competitive factors. Submitted, September 18, 1991. Dallas Mid Valley Bank, Weslaco, Texas, proposed merger with Texas State Bank (interim bank merger) — report on competitive factors. Submitted, September 18, 1991. San Francisco Pacific Bank, National Association, San Francisco, California, proposed purchase of branches and/or transfer of savings accounts between Western Federal Savings and Loan Association, Marina Del Rey, California, and Pacific Bank — report on competitive factors. Submitted, September 16, 1991. Atlanta Pioneer Bancshares, Inc., Chattanooga, Tennessee, proposed acquisition of Pioneer Bank — report on competitive factors. Submitted, September 16, 1991. Minneapolis Security State Bank, Madison, South Dakota, proposed merger with Gary State Bank, Gary, South Dakota -report on competitive factors. Submitted, September 16, 1991. H .2 SEPTEMBER 16, 1991 PAGE 15 TO SEPTEMBER 20, 1991 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, September 17, 1991. Chicago Empire Banc Corporation, Traverse City, Michigan — extension to November 23, 1991, to acquire the Traverse City branches of Great Lakes Bancorp, Ann Arbor, Michigan. Granted, September 16, 1991. San Francisco First Interstate Bancorp, Los Angeles, California — extension to December 25, 1991, to engage in asset management activities through Fees, Inc., Denver, Colorado. Granted, September 20, 1991. New York Morgan Guaranty International Finance Corporation, New York, New York — extension to September 14, 1992, to make additional investments in J.P Morgan Holding Deutschland GmbH, Frankfurt, Germany, and J.P. Morgan GmbH. Granted, September 20, 1991. San Francisco Security Pacific Corporation, Los Angeles, California — extension to divest certain property. Granted, September 17, 1991. San Francisco U.S. Bancorp, Portland, Oregon — divest certain properties. Granted, September 20, 1991. Cleveland Dime Bank, Marietta, Ohio — to become a member of the Federal Reserve System. Approved, September 19, 1991. extensions to MEMBERSHIP H .2 ADDITIONS AND CORRECTIONS SEPTEMBER 16, 1991 PAGE 16 TO SEPTEMBER 20, 1991 ACTIONS TAKEN BY THE BOARD OF GOVERNORS REGULATIONS AND POLICIES Profitability of Credit Card Operations of Depository Institutions — annual report to the Congress. Approved, September 6, 1991. ADDITIONS AND CORRECTIONS ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago First of America Bank Corporation, Kalamazoo, Michigan — to acquire First of America Federal Interim Savings Bank, Waukegan, Illinois, which was formed to purchase the assets and assume the liabilities of Home Federal Savings Bank. Approved, September 13, 1991 . Staff Director BS&R Orange Bancorp, Fountain Valley, California — transfer agent registration. Withdrawn, September 13, 1991. Minneapolis South Dakota Financial Bancorporation, Minneapolis, Minnesota; South Dakota Bancorp; and Dakota Company, Inc. — to acquire Farmers & Merchants Savings Bank, f.S.b., Huron, South Dakota. Approved, September 13, 1991. FEDERAL RESERVE BANK OF BOSTON APPLICATIONS S E C T I O N I - A P P L I C A T I O N S SU B J E C T TO N E W S P A P E R N O T I C E ONLY Co m m e n t P e r i o d E n ding Date Application N ONE S E C T I O N II - A P P L I C A T I O N S SU B J E C T TO BOT H NEWSPAPER AND FEDERAL REGISTER NOTICE C o m m e n t P e r i o d E n ding Date Application N ONE 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 FE D E R A L R E G I S T E R N O T I C E O NLY Application C o mment P e r i o d Endi n g Date Peo p l e ' s S a vings Federal R e g i s t e r Finan c i a l Corp., N e w Britain, C o n n e c t i c u t - 4(c)(8) a p p l i c a t i o n to r e t a i n a 9.3% interest in Federal Sa v i n g s Bank, F.S.B. Not Yet E s t a b lished SE C T I O N IV ~ A P P L I C A T I O N S NOT S U BJECT TO F E D E R A L R E G I S T E R OR N E W S P A P E R N O T I C E Application NON E S E C T I O N V - A V A I L A B I L I T Y OF CRA P U BLIC E V A L U A T I O N S Institution E x a m i n a t i o n Date N ONE Federal Reserve Bank of New York Comment Period Ending Date SECTION I Applications Subject to Newspaper ____________Notice Only_________ None. SECTION II Applications Subject to Both Newspaper and Federal Register Notice Manufacturers Hanover Corporation, New York, New York to merge into Chemical Banking Corporation, New York, New York or, in the alternative, into CBC Sub Corporation; Manufacturers Hanover Trust Company, New York, New York to merge into Chemical Bank, New York, New York; Chemical Banking Corporation to acquire the nonbanking subsidiaries of Manufacturers Hanover Corporation.!/ 10/22/91 2/ SECTION III Noribanking Applications (Subject to Federal Register Notice Only) None. SECTION IV Applications Not Involving ______ Public Comment______ None. Availability of CRA Public Evaluations Week Ending September 28. 1991 NAME OF BANK . EXAMINATION DATE None. 1/ 2/ 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 BANK OF PHILADELPHIA SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY Comment Period Ending Date None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Comment Period Ending Date None. SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY Comment Period Ending Date None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE None. 1/ Subject to provisions of Community Reinvestment Act * N/A - not yet available. SECTION V - AVAILABILITY OF CRA PUBLIC EVALUATIONS For week ending 9/20/91 Institutions Examination Date Johnstown Bank and Trust Company 532-34 Main Street Johnstown, PA 15901 (814) 536-7801 4/29/91 Montour Bank 1519 Bloom Road Danville, PA 17821 (717) 275-8000 6/10/91 Federal Reserve Bank of Cleveland A p p lica tio n s B u lle tin F o r Week E n d in g S e p te m b e r 2 1 , 1991 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE ONLY R e c e i v e d a p p l i c a t i o n on A u g u s t 26, 1991, from * S e p t e m b e r 22, 1991 The P r o v i d e n t Bank, Cincinnati, Ohio, to m e r g e w i t h H u n t e r S avings Association, Cincinnati, Ohio, p u r s u a n t to Se c t i o n 18(c) of the Federal D e p o s i t I n s u r a n c e Act. R e c e i v e d a p p l i c a t i o n on Septe m b e r 20, 1991 from The D o l l a r Savings and T r u s t Company, Youngstown, Ohio, for p e r m i s s i o n to e s t a b l i s h a C B C T b r a n c h at 7041 T r u c k W o r l d B l v d . , H u b b a r d , Ohio. * O c t o b e r 17, 1991 SECTION I I - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE R e c e i v e d a p p l i c a t i o n on Septe m b e r 16, 1991 from Banc One Corporation, Columbus, Ohio, to a c q u i r e Fir s t Illinois Corporation, Evanston, Illinois, p u r s u a n t to Sections 3(a)(3) and 3(a)(5) of the Bank H o l d i n g C o m p a n y Act. SECTION I I I - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY NONE * N F # - S u b j e c t to CRA N e w s p a p e r Co m m e n t Pe r i o d F ederal R e g i s t e r C o mment Period E x p e c t e d to end a p p r o x i m a t e l y 30 days from the d a t e of re c e i p t of the a p p l i c a t i o n * N o t Yet K n o w n # A p p lica tio n s B u lle tin F o r Week E n d in g S e p te m b e r 2 1 , 1991 SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE NONE * * N F # - Subject to CR A N e w s p a p e r C o m m e n t Period F e deral R e g i s t e r C omment Period E x p e c t e d to end a p p r o x i m a t e l y 30 days from the d a t e of r e c e i p t of the a p p l i c a t i o n AVAILABILITY OF CRA PUBLIC EVALUATIONS (September 21, 1991) The following state member banks have been e xamined by the Federal Reserve Bank of Cleveland for compliance w i t h The Community R e i nvestment Act. A public evaluation document b e came available from the bank(s) listed below during the week ended September 21, 1991. If you are interested in obtaining a copy of an evaluation document, please contact the bank(s) directly. NONE Federal Reserve Bank of Richmond Section I - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date Benchmark Community Bank, Kenbridge, Virginia, application to establish a branch at the intersection of South Main Street (U.S. Route 15) and Milnwood Road, Farmville, Virginia.* 10-21-91 Section II - Applications Subject to Both Newspaper and Federal Register Notice Application Comment Period Ending Date None. Section III - Applications Subject to Federal Register Notice Application Comment Period Ending Date None. Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. •^Application is subject to CRA. Federal Reserve Bank of Richmond Availability of CRA Public Evaluations Week ending September 20, 1991 Examination Date Commercial and Farmers Bank 8593 Baltimore National Pike Ellicott City, Maryland 21043 7-15-91 Coastal Virginia Bank 5472 Indian River Road Virginia Beach, Virginia 7-15-91 23464 Bank of Northumberland, Incorporated P. 0. Box 9 Heathsville, Virginia 22473 7-22-91 Federal Reserve Bank of Atlanta A p p l i c a t i o n s Bulletin for Week Ending September 20. 1991 Section 1 - Applications Subject to Newspaper Notice Only Application Comment Period Ending Date None. Section 2 - Applications Subject To Both Newspaper and Federal Register Notice Application Comment Period Ending Date United Bank Corporation Barnesville, Georgia To acquire Unit e d Bank of Griffin, Griffin, Georgia, a federal savings bank, w h i c h will be converted to a state n onme m b e r bank. Not yet available* Section 3 - Applications Subject to Federal Register Notice Only Application Comment Period Ending Date None. Section 4 - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. ♦Subject to Provisions of Community Reinvestment Act. Section 10 - Availability of CRA Public Evalua t i o n s The CRA public evaluations of the institutions listed b e l o w became available dicing the w e e k ending September 20, 1991. Information about an institution's C RA evaluation may be obtained directly from the institution. Bank None. E x a m ination Date Federal Reserve Bank of Chicago Section I - Applications Subject to Newspaper Notice Only Comment Period Application Ending Date S £§ Merger/24A Type 1st Source Bank South Bend, Indiana l a Paz Branch, La Paz, Indiana of NOrCen Bank, Culver, Indiana* N - 9-29-91 Section II - Applications Subject to Both Newspaper and Federal Register Notice Comment Period Ending Date Application Y-2 Ames National Corporation Ames, Iowa Boone Bank & Trust Co. Boone, Iowa (in organization)* F R - 10-3-91 N - 9-26-91 Y-l Great River Banshares Corporation Burlington, Icwa Burlington Bank and Trust Burlington, Iowa* FR N - 10-4-91 Y-l RGB Acquisition Corp. Aurora, Illinois Kane County Banc shares, Inc. E l h u m , Illinois Kane County Bank and Trust Co. E l h u m , Illinois* F R - ** N - ** Y-2 Old Second Bancorp, Inc. Aurora, Illinois Kane County Banc shares, Inc. E l h u m , Illinois Kane County Bank and Trust Co. E l h u m , Illinois* F R - ** N - ** Section III - Applications Subject to Federal Rpqjgt-P>r Notice Only Type Application Y-4 Garwin Bancorporation Garwin, Iowa Garwin Insurance Agency Garwin, Iowa Comment Period Ending nat** F R - 8-14-91 Federal Reserve Bank of Chicago Section IV - Applications Not Subject to Fafteral Register or Newspaper Notice Type Application None N FR * ** - Newspaper Federal Register Subject to Provisions of Cannunity Reinvestment Act Not available at this time> AVAILABILITY OF CRA PUBLIC EVALUATIONS The following institutions were examined for CRA. The 30-kusiness day period the bank has to make the evaluation public has lapsed during the week ending September 20, 1991. BANK NAME/IOCATION EXAMINATION DATE -Firstar Bank Ottumwa Third and Market Ottumwa, Icwa 52501 6/17/91 -Security Bank St. Clair Shores 24612 Harper Street P.O. Box 349 St. Clair Shores, Michigan 48080 6/17/91 Federal Reserve Bank of St. Louis FOR THE WEEK ENDING SEPTEMBER 20, 1991 SECTION I - APPLICATIONS SUBJECT TO NEWSPAPER NOTICE Application End of Comment Period None. SECTION II - APPLICATIONS SUBJECT TO BOTH NEWSPAPER AND FEDERAL REGISTER NOTICE Application End of Comment Period Change in control notification by Camden Bank Employee Stock Ownership Plan, Camden, Tennessee involving Bancshares of Camden, Inc., Camden, Tennessee Not yet available Change in control notification by Ben L. Cundiff involving Trigg Bancorp, Inc., Cadiz, Kentucky Not yet available Section 3(a)(1) application by Community Financial of Kentucky, Inc., Louisville, Kentucky to acquire Security Bancshares of Marion County, Inc., Springfield, Kentucky Newspaper: 10-21-91 Section 3(a)(1) application by First Cecilian Bancorp, Inc., Cecilia, Kentucky to acquire The Cecilian Bank, Cecilia, Kentucky Not yet available SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE Application End of Comment Period None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE Application End of Comment Period None. This application is subject to CRA. Federal Reserve Bank of St. Louis FOR THE VEEK ENDING September 20, 1991 AVAILABILITY OF CRA PUBLIC DISCLOSURES Bank Name None Bank Address Examination Date FEDERAL RESERVE BANK OF MINNEAPOLIS Section I - Applications Subject to Newspaper Notice Only Comment Period Endincr Date Application First Security Bank of Missoula Missoula, M T To establish a de novo branch in Missoula* Not yet available Section II - Applications Subject to Both Newspaper and Federal Register No t i c e Application Comment Period Endinci Date The First National Bank at St. James Employee Stock Ownership Plan and Trust St. James, M N To acquire an additional 1.6% of The First National A g ency at St. James, Minnesota, Inc., St. James, MN* 10-3-91 (Federal Register) Linton B a n c s h a r e s , I n c . Bismarck, ND To acquire, via merger, 100% of the voting shares of Farmers and Me r chants Bancshares, Inc., Beach, ND* 10-3-91 (Federal Register) Henning Bancshares, Inc. Henning, MN To acquire 100% of Battle Lake Bancshares, Inc., Battle Lake, MN, a obhc owning the First National Bank, Battle Lake, MN* Not yet available Haugo Bancshares, Inc. Elk Point, SD To acquire 100% of Haugo Investment Company, Sioux Falls, SD, a obhc owning V a l l e y Bank, Elk Point, SD* Not yet available * Subject to CRA FEDERAL RESERVE BANK OF MINNEAPOLIS Section III - Applications Subject to Federal Register Notice Only Comment Pe r i o d Ending Date Application M ontana Bancsystem, Inc. Billings, M T To engage in general insurance agency activities through the acquisition of Tillet Insurance Agency, Inc., Forsyth, Montana. 10-3-91 First Dakota Financial Corporation Yankton, SD To engage in savings association activities through the acquisition of First Federal Bank,f.s.b., Beresford, SD 10-3-91 Norwest Corporation Minneapolis, MN To engage in insurance agency acti vities t hrough the acquisition of MIG Insurance Brokers, Inc., Minneapolis, MN 10-11-91 Haugo B a n c s h a r e s , I n c . Elk Point, SD To engage in general insurance agency activities in a community w i t h a population not exceeding 5,000 t h r o u g h the acquisition of V a l l e y Insurance Agency. Not yet available Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice Application None. FEDERAL RE8ERVE BANK OF MINNEAPOLIS Section V - Availability of CRA Public Evaluations w e e k ending September 20, 1991 Bank Name/City/State First Citizens Bank P. 0. Box 3149 Butte, Montana 59702 Examination Date June 3, 1991 Telephone # (406) 494-4400 Citizens State Bank P. 0. Box 187 Ontonagon, MI 49953 June 24, 1991 (906) 884-4165 Marquette Bank Cannon Falls P. 0. Box 248 Cannon Falls, M N 55009 July 1, 1991 (507) 263-4214 Federal Reserve Bank o f Kansas 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 APPLIC A T I O N COMMENT PERIOD ENDING DATE First National Johnson Bancshares, Inc., Johnson, Nebraska, for prior approval to become a bank holding company through the acquisition of 93 percent of the voting shares of First National Bank of Johnson, Johnson, Nebraska.* Not Available Robert C. Templeton, et. al., Lusk, Wyoming, for prior approval to increase each of their proportionate ownership interests in Bankers Capital Corporation, Lusk, Wyoming, by 1.11 percent to 11.11 percent. Not Available Bushton Investment Company, Inc., Hays, Kansas, for prior approval to acquire 100 percent of the voting shares of the Bank of Inman, Inman, K a n s a s .* Not Available SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLIC A T I O N COMMENT PERIOD ENDING DATE None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE A PPLICATION None Federal Reserve Bank o f Kansas City SECTION X - AVAILABILITY OP CRA PUBLIC EVALUATIONS BANK/LOCATION EXAMINATION DATE Barton County State Bank P.O. Box 232 Lamar, Missouri 64759-0232 July 8, 1991 Alpine Bank Clifton P.O. Box 446 Clifton, Colorado 81520 June 24, ♦Application is subject to CRA 1991 FEDERAL RESERVE BANK OF DALLAS APPLICATIONS BULLETIN APPLICATIONS AND NOTIFICATIONS FILED DURING THE WEEK OF SEPTEMBER 16, 1991 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 Change in Control Notice by Jim Paul Meadows, Houston, TX, to acquire an interest in Houston Bancorporation, Inc., Houston, TX N/A Change in Control Notice by Sidney Louis Knopf, Dallas, TX, to acquire an interest in EastPark Bancshares, Inc., Dallas, TX 09/23/91 SECTION III - APPLICATIONS SUBJECT TO FEDERAL REGISTER NOTICE ONLY APPLICATION NOTICE EXP None. SECTION IV - APPLICATIONS NOT SUBJECT TO FEDERAL REGISTER NOTICE OR NEWSPAPER NOTICE APPLICATION None. SECTION V - AVAILABILITY OF CRA PUBLIC EVALUATIONS FOR THE MEEK OF SEPTEMBER 16, 1991 Bank Date of Examination Security Bank P. 0. Drawer AA Ralls, Texas 06/10/91 United Bank & Trust P. 0. Box 3157 Abilene, Texas 79604 06/17/91 * 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 9/20/91 Section I - ADDlications Sub.iect to NewsDaDer Notice Onlv Application Comment Period Endina Date Valley Bank of Nevada, Las Vegas, Nevada, to establish a branch office at 1801 South Rainbow, Las Vegas, Nevada. * NewsDaDer: 10/08/91 Valley Bank of Nevada, Las Vegas, Nevada, to establish a branch office at 8581 W. Lake Mead, Las Vegas, Nevada. * NewsDaDer: 10/08/91 Valley Bank of Nevada, Las Vegas, Nevada, to merge with Bank of America Nevada, Reno, Nevada. * NewsDaDer: 10/18/91 Valley Bank of Nevada, Las Vegas Nevada, to establish branches at current sites of Bank of America Nevada, Reno, Nevada. * NewsDaDer: 10/18/91 Section II - ADDlications Sub.iect to Both NewsDaDer and Federal Reaister Notice Robert V. Pauley, Santa Rosa, California, to increase his ownership from 5.61 up to 13.31 percent of Northern Empire Bancshares, Santa Rosa, California. NewsDaDer: Not available Fed. Req.: 10/03/91 Melvin F. and Laura T. Bowler, St. George, Utah, to retroactively retain 10.23 percent of First Bankshares, Inc., St. George, Utah. NewsDaDer: Not available Fed. Rea.: 10/07/91 BankAmerica Corporation, San Francisco, to acquire Valley Capital Corporation, Las Vegas, i.evada. NewsoaDer: 10/18/91 Fed. Req.: Not available Nevada First Development Corporation, San Francisco, California, to merge with Valley Capital Corporation, Las Vegas, Nevada. * NewsDaDer: 10/18/91 Fed. Req.: Not available FEDERAL RESERVE BANK OF SAN FRANCISCO Week ending 9/20/91 Section III - Applications Subject to Federal Register Notice Only The Tokai Bank, Limited, Nagoya, Japan, to engage in underwriting certain debt securities and to engage in brokerage and advisory activities through Tokai Securities, Inc., New York, New York. Fed. Rea.: Not yet published Section IV - Applications Not Subject to Federal Register Notice or Newspaper Notice None Section V - Availability of CRA Public Evaluations Information about a particular institution's CRA evaluation may be obtained directly from the institution. Institution None * Subject to CRA Location Examination Date
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