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ANI^C)UNCEMENT BY
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
(H.2, 1978 No. 36)
Actions of the Board; Applications and Reports
Received During the Week Ending September 9, 1978
ACTIONS OF THE BOARD
Statement by Chairman G. William Miller before the Senate
Committee on Finance on tax legislation.
Statement by Governor Philip E. Coldwell before the Subcommittee an Consumer Affairs of the House Ccrrmittee an
Banking, Finance and Urban Affairs to present the Board's
views, on the need for simplification of the Truth in
Lending Act.
Dale W. Henderson, appointed Assistant International Division Officer.
Larry J. Premise!, appointed Assistant International Division Officer.
Jeffrey R. Shafer, appointed Associate International Division Officer.
Ralph W. Smith, Jr., appointed Assistant International Division Officer.
James M. Brundy, promoted .frcm Assistant Research Division
Officer to Associate Research Division Officer.
Michael J. Prell, appointed Associate Research Division
Officer.
Frederick M. Struble, appointed Assistant Research Division Officer.
Regulation Q, temporary suspension of early withdrawal
penalty for depositors affected by the severe storms,
flooding, hail and tornadoes beginning on or about June
25, 1978, in a sixteen county area of Wisconsin.
H.2, 1978 No. 36
-
2
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ACTIONS OF THE BOARD-Continued
Deregistration for Coca-Cola Bottling Company of Los
Angeles Federal Credit Union, Los Angeles, California,
and for Computer Usage Company, San Francisco, California. 1/
First Bank System, Inc., Minneapolis, Minnesota, requesting
a 30-day extension of time within which to open The
Granite City National Bank of St. Cloud, Minnesota. 1/
Memphis Bancshares, Inc., Memphis, Missouri, extension of
time to September 11, 1978, within which to file its
registration statement. 1/
Blakeley Bank and Trust Company, Ranson, West Virginia,
requesting permission to make an investment in bank
premises. 1/
Tracy-Collins Bank and Trust Company, Salt Lake City, Utah,
extension of time to April 26, 1979, within which to
establish a branch at 1375 Foothill Boulevard, Salt Lake
City, Utah. 1/
Bank of West Florida, Pensacola, Florida, proposed merger
with The West Pensacola Bank, Pensacola, Florida; report
to the Federal Deposit Insurance Corporation on competitive factors. 1/
17 Applications processed on behalf of the Board of Governors under delegated
authority.
H.2, 1978 No. 36
- 3ACTIONS OF THE BQARD-Continued
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Approved
Union Trust Company of Maryland, Baltimore, Maryland.
Branch to be established in Columbia Mall on Little
Patuxent Parkway, Columbia, Howard County. 2/
First Virginia Bank-South Central, Brookneal, Virginia.
Branch to be established at the intersection of U.S.
Route 460 and State Route 656, Concord, Campbell County.
2/
*
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*
*
International Investments and Other Actions Pursuant to
Sections 25 and 25(a) of the Federal Reserve Act and
Sections 4(c)(9) and 4(c)(13) of the Bank Holding Company
Act of 1956, as amended
Approved
Citibank, N.A., New York, New York: grants consent, to
continue to hold, directly or indirectly, the shares of
Citicorp International Group, Inc. (CIG), Wilmington,
Delaware.
Provident International Corporation, Philadelphia, Pennsylvania: grants consent, to continue to hold the
shares of Prodelmex S.A. (Prodelmex), Mexico City,
Mexico.
Bank of America N.T. & S.A., San Francisco, California:
grants consent, for Bamericai International Financial
Corporation (BIFC), San Francisco, California, to continue to hold the shares of BA Asia Limited (BA Asia),
Hong Kong, after it acquired BIFC's current 20 per cent
interest in Hew Zealand United Corporation Ltd. (NZUC),
Wellington, New Zealand, and 21.5 per cent interest in
Aseambankers Malaysia Berhad, Kuala Lumpur, Malaysia,
and after BA Asia acquires, directly or indirectly, an
additional 4.99 per cent of the shares of NZUC.
2/ Applications processed by the Reserve Bank on behalf of the Board of
Governors under delegated authority.
H.2, 1978 No. 36
- 4ACTIONS OF THE BOARD-Cantinued
To
bablish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Approved
The Citizens and Southern National Bank of South Carolina,
Columbia, South Carolina: grants permission, to establish a branch in George Team, Grand Cayman, Cayman
Islands.
*
*
*
*
*
To Form a Bank Holding Company Pursuant to Section
3 (a) (1) of the Bank Holding Company Act of 1956
Approved
Bellevue Holding Corporation, Geneva, Switzerland and
Colonial General, Inc., New York, New York, for approval
through the direct acquisition by Colonial of 62 per
cent of the voting shares of First Coolidge Corporation,
Watertcwn, Massachusetts and indirectly Coolidge Bank
and Trust Company, Watertewn, Massachusetts.
BYRON BANCSHARES, INC., Byron, Illinois, for approval to
acquire 80 per cent or more of the voting shares of
First National Bank of Byron, Byron, Illinois.
Comanche Bancshares, Inc., Coldwater, Kansas, for approval
to acquire 86.60 per cent (less directors1 qualifying
shares) of the voting shares of The Peoples State Bank,
Coldwater, Kansas. 2/
Else Investment Company, Fairbury, Nebraska, for approval
to acquire an additional 55.3 per cent of the voting
shares of The Fairbury State Bank, Fairbury, Nebraska.
2/
*
* * * *
To Expand a Bank Holding Conpany Pursuant to Section
3(a) (3) of the Bank Holding Conpany Act of 1956
Approved
First Steuben Bancorp] Inc., Toronto, Ohio, for approval
to acquire 100 per cent of the voting shares (less directors* qualifying shares) of the successor by merger
to The Eastern Ohio Bank, Morristcwn, Ohio.
2/? Applications processed by the Reserve Bank can behalf of the Board of
delegated authority.
Governors under
H.2, 1978 No. 36
- 5ACTIONS 'CF THE BOARD-Cantinued
First Virginia Banks, Inc., Falls Church, Virginia (formerly
First Virginia Bankshares Corporation), for approval to
acquire 100 per cent of the voting shares of the successor by merger to Bank of Warrenton, Warrenton, Virginia.
2/
Texas Commerce Bancshares, Inc., Houston, Texas, for approval to acquire 100 per cent of the voting shares
(less directors' qualifying shares) of Richmond Commerce
Bank, Houston, Texas, a proposed new bank.
*
*
*
*
*
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
Permitted
Chittenden Corporation, Burlington, Vermont, notification
of intent to engage in de novo activities (commercial
and consumer personal property leasing) at the main
office of Chittenden Trust Company at Two Burlington
Square, Burlington, Vermont, through an existing inactive
subsidiary, Chittenden Leasing Corporation, Burlington,
Vermont (9/8/78) 3/
First Connecticut Bancorp, Inc., Hartford, Connecticut,
notification of intent to engage in de novo activities
(data processing for the internal operations of First
Connecticut Bancorp, Inc. and its subsidiaries and
storing and processing other banking, financial, or
related economic data for banks and the public such as
payroll, billing, accounting, and financial records
maintenance services) at 52 Holmes Road, Newington,
Connecticut, through The Bank Computer Center of Connecticut, Inc., a corporation wholly-owned by the subsidiary
banks of First Connecticut Bancorp, Inc., The Bank
Computer Center of Connecticut will became a direct/
wholly-owned subsidiary of First Connecticut Bancorp,
Inc. (9/6/78) V
Chemical Nov York Corporation, Now York, Nav York, notification of in Lent to engage in de novo activities (making or acquiring, for its own account loans and other
extensions of credit such as would ?^e made or a*squired
\yr,I,,.,}
nr
Ban'r or* 1 M m ? ^ oi l
v-rc
Gjvurnniunder d- "logatod
thority.
4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on bei'^i] f'
of th(i Board oi' Governors under delegated autliority,
ACTIONS OF THE BOARD-Ccntinued
by a finance company and servicing loans and other
extensions of credit, such activities will include, but
not be limited to, making consumer installment sales
finance contracts, making loans and other extensions of
credit to small businesses, and making loans secured by
real and personal property; acting as agent or broker
for the sale of credit related life, credit related
accident and disability and credit related property and
casualty insurance in connection with extensions of
credit made or acquired by Sunamerica Financial Corp.)
at Camelback Executive Park, 6991 East Camelback Road,
Scottsdale, Arizona and 5350 S. Western, Oklahoma City,
Oklahoma, through its subsidiary, Sunamerica Financial
Corp. (9/7/78) 3/
C.I.T. Financial Corporation, New York, New York, notification of intent to relocate de novo activities (making,
acquiring and servicing loans and other extensions of
credit such as would be made by a finance company; and
making available to customers credit life and credit
accident and health insurance in connection with collateral securing such loans and extensions of credit) from
Route 130 LaGorce Shopping Center, Burlington Township,
New Jersey to Coopertown Plaza Shopping Center, Sunset
Road, Burlington Township, Nov Jersey (9/8/78) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (acting as agent or broker
for the sale of credit related property and casualty
insurance (on purchased installment sales finance contracts, said insurance will only be offered when such
transactions are the equivalent of direct extensions of
credit by Advance Mortgage Corporation) on property,
generally mobile hemes and one-to-four family residences,
where Advance Mortgage Corporation has a security interest
and to include liability coverage in homeowner "package"
policies where such is the general practice by licensed
agents or brokers) at 9247 North Meridian Street,
Indianapolis, Indiana, through its subsidiary, Advance
Insurance Agency, Inc. (9/8/78) 3/
Citicorp, N(%w York, New York, notificalion of intent to
engage in de novo activities (operating a credit card
business including, but not limited to, soliciting and
^nterjn'T into ag nxanents with norchanc listeners to
.L.rv x itnd % ror. " !. u.- iard uTqon; such servicing
include
red It authc ri/ations, supplies,
3/7 4(c) (8) and T(c) (12)notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
ACTIONS OF THE BQARD-Continued
and data processing) at Plaza Executive Center, North,
1405 N.W. 167th Street, Miami, Florida, through its subsidiary, Citicorp Credit Services, Inc. (9/7/78) 3/
Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activities
(arranging, making or acquiring for its cwn account or
for the account of others, loans and other extensions of
credit secured by second mortgages on residential real
property such as would be made by a consumer finance
company; servicing such loans and other extensions of
credit for any persons; and acting as an agent or broker
for the sale of credit life and credit accident and
health insurance which is related to such loans and extensions of credit made, acquired or serviced by The
Financial Source, Inc. of New Jersey) at Route 30 and
Willcw Drive, Cinnaminson, New Jersey, through its subsidiary, The Financial Source, Inc. of New Jersey
(9/4/78) 3/
Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activities
(arranging, making or acquiring for its own account or
for the account of others, loans and other extensions of
credit such as would be made by a finance company; making or acquiring, for its own account or for the account
of others, loans and other extensions of credit such as
would be made by a sales finance company including
purchasing installment sales finance contracts; servicing
any such loans and other extensions of credit for any
persons; and acting as agent or broker for the sale of
credit related life and accident and health insurance
and property damage and liability insurance which is
related to extensions of credit made and acquired by
Ritter Finance Company, Incorporated of Maryland) at 1225
E. National Highway, LaVale, Maryland, through its
subsidiary, Ritter Finance Company, Incorporated of
Maryland (9/9/78) 3/
Union International Corporation, New York, New York, notification of intent to engage in de novo activities (providing data processing services, including the sale of
excess computer time and those data processing services
which are normally utilized by financial institutions,
including general ledger, demand deposit and savings
deposit accounting, installment loans, as well as other
17 4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 36
- 8
ACTIONS OF THE BOARD-Continued
data processing activities to the extent permitted by
law) at 609 Fifth Avenue, New York, New York, through
its subsidiary, Union Computer Corporation (9/9/78) 3/
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other
extensions of credit such as would be made or acquired
by a finance company and servicing loans and other
extensions of credit, such activities will include, but
not be limited to, making consumer installment loans,
purchasing installment sales finance contracts, making
loans and other extensions of credit to small businesses,
and making loans secured by real and personal property;
and the offering of credit related life, credit related
accident and disability insurance, and credit related
property insurance in connection with extensions of
credit made or acquired by FinanceAmerica Corporation)
at 514-516 Yellowstone Avenue, Pocatello, Idaho, through
its indirect subsidiary, FinanceAmerica Corporation (an
Idaho Corporation) (9/8/78) 3/
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making and acquiring, for their cwn account loans and other
extensions of credit such as would be made or acquired
by a finance company, and servicing loans and other extensions of credit; the activities of FinanceAmerica
Corporation will include, but not be limited to, making
consumer installment loans, making loans and other extensions of credit to small businesses, and purchasing
installment sales finance contracts; the activities of
FinanceAmerica Mortgage Services Company will include,
but not be limited to, making loans and other extensions
of credit to small businesses and making loans secured
by real property; both corporations will offer credit
related life and credit related accident and disability
insurance in connection with the extensions of credit
made or acquired) at Albemarle Square Shopping Center,
1711C Seminole Trail, Charlottesville, Virginia, through
its indirect subsidiaries, FinanceAmerica Corporation (a
Virginia Corporation) and FinanceAmericci Mortgage Services Company (9/7/78) 3/
3/ 4(c) (8) and 4(c) (12) notifications prn^i .-isid by Reserve Bank on behalf
of the Board of Governors under dologrh ^ ithority.
ACTIONS OF THE BQARD-Continued
BankAmerica Corporation, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its own account loans and other
extensions of credit such as would be made or acquired
by a finance company and servicing loans and other extensions of credit, such 'activities will include, but
not be limited to, making consumer installment loans,
purchasing installment sales finance contracts, making
loans and other extensions of credit to small businesses,
and making loans secured by real and personal property;
and the offering of credit related life, credit related
accident and disability insurance, and credit related
property insurance in connection with extensions of
credit made or acquired by FinanceAmerica Corporation)
at 2141 Brea Canyon Road, Diamond Bar, California,
through its indirect subsidiary, FinanceAmerica Corporation (a California Corporation) (9/7/78) 3/
First Security Corporation, Salt Lake City, Utah, notification of intent 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 such as are
normally made by a mortgage company, and the servicing
of such accounts for others, and to a limited extent
through a subsidiary, acting as an insurance agent with
respect to insurance directly related to said extensions
of credit) at or near the intersection of Casino Road
and Evergreen Highway, Everett, Washington, through its
subsidiary, Securit ies-Intermountain, Inc. (9/8/78) 3/
Wells Fargo & Company, San Francisco, California, notification of intent to engage in de novo activities (making or acquiring, for its cwn account or for the account
of others, loans and other extensions of credit; servicing loans and other extensions of credit for other
persons; acting as an insurance agent or broker with
respect to the following types of insurance that are
directly related to the extension of credit by Wells
Fargo & Company or its subsidiaries: credit life and
credit accident and health insurance and mortgage redemption life insurance and group mortgage disability insurance) at 1727 N.E. 13th Avenue, Portland, Oregon,
through its subsidiaries, Wells Fargo Mortgage Company
and WFMC Corporation (9/8/78) 3/
37 4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 36
- 1 0 -
ACTIONS OF THE BQARD-Coitinued
Wells Fargo & Company, San Francisco, California, notification of intent 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; servicing
loans and other extensions of credit for other persons;
acting as an insurance agent or broker with respect to
the following types of insurance that are directly
related to the extension of credit by Wells Fargo &
Company or its subsidiaries: credit life and credit
accident and health insurance and mortgage redemption
life insurance and group mortgage disability insurance)
at 32015 - 1st Avenue, Federal Way, Washington, through
its subsidiaries, Wells Fargo Mortgage Company and WFMC
Corporation (9/8/78) 3/
*
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*
Certifications Issued Pursuant to the Bank Holding
Company Tax Act of 1976
Voyageur Development Corporation, Park Falls, Wisconsin
("Voyageur"), prior certification pursuant to section
6158(a) of the Internal Revenue Code that the proposed
sale by Voyageur of substantially all the assets of Park
Falls Insurance Agency, Park Falls, Wisconsin, a general
insurance agency, is necessary or appropriate to effectuate
section 4 of the Bank Holding Company Act. (Legal Division
Docket No. TOR 76-165) */
37 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
V Processed on behalf of the Board of Governors under delegated authority.
H.2, 1978 No. 36
11 -
APPLICATIONS RECEIVED
To Establish a Domestic Branch Pursuant to Section
9 of the Federal Reserve Act
Manufacturers Hanover Trust Company, New York, New York.
Branch to be established at 707 Westchester Avenue,
White Plains, Westchester County.
The Peoples State Bank, Wauseon, Ohio. Branch to be
established at 1250 North Shoop Avenue, Wauseon, Fulton
County
Central Bank of Northern Virginia, Bailey1 s Crossroads,
Virginia. Branch to be established at 9516 Old Keene
Mill Road, Burke, Fairfax County.
*
* * * *
To Establish an Overseas Branch of a Member Bank
Pursuant to Section 25 of the Federal Reserve Act
Citibank, N.A., New York, New York: request permission
to establish branches in Antwerp and Liege, Belgium.
*
*
*
*
*
To Form a Bank Holding Company Pursuant to Section
3(a) (1) of the Bank Holding Company Act of 1956
The Hongkong and Shanghai Banking Corporation, Hong Kong,
B.C.C., Kellett N.V., Curacao, Netherlands, Antilles
and HSBC Holdings B.V., Amsterdam, The Netherlands, for
approval to acquire approximately 51.1 per cent of the
voting shares of Marine Midland Banks, Inc., Buffalo,
New York.
Greencastle Investment Corporation, Wilmington, Delaware,
for approval to acquire 80 per cent or more of the
voting shares of First-Citizens Bank and Trust Company,
Greencastle, Indiana.
H.2, 1978 No. 36
- 12
APPLICATIONS RECEIVED-Cantiiiued
Newman Bancshares, Inc., Tuscola, Illinois, for approval
to acquire 94 per cent of the voting shares of First
State Bank of Newman, Newman, Illinois.
First Temple Corp., Temple, Oklahoma, for approval to
acquire 80 per cent (less directors' qualifying shares)
of the voting shares of First State Bank in Temple,
Temple, Oklahoma.
*
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*
*
*
To Expand a Bank Holding Company Pursuant to Section
4(c) (8) of the Bank Holding Company Act of 1956
CBT Corporation, Hartford, Connecticut, notification of
intent to engage in de novo activities (commercial
financing including the making of loans secured by
accounts receivable, inventory, machinery and equipment
and real estate, and full payout leasing of equipment)
at Executive West II, Suite 113, 2421 Production Drive,
Indianapolis, Indiana, through General Discount Corporation, Boston, Massachusetts which is a wholly-owned subsidiary of CBT Financial Corporation which is in turn a
wholly-owned subsidiary of CBT Corporation (9/7/78) 3/
Chemical New York Corporation, New York, New York, notification of intent to engage in de novo activities
(leasing real and personal property and equipment on a
non-operating, full payout basis, and acting as agent,
broker and adviser with respect to such leases; financing
real and personal property and equipment such as would
be done by a commercial finance company; and servicing
such extensions of credit) at Four Gateway Center, Suite
220, 444 Liberty Avenue, Pittsburgh, Pennsylvania, New
England Executive Park, Route 128, Burlington, Massachusetts and 8095 Belleview Avenue, Englewood, Colorado,
through its subsidiary, ChemLease, Inc. (9/7/78) 3/
37 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 36
-13APPLICATIONS RECFIVED-Cantinued
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making consumer installment personal loans, purchasing and servicing for its
own account installment sales finance contracts, making
loans for the account of others such as one-to-four
family unit mortgage loanS, making loans to individuals
and businesses secured by real and personal property,
the proceeds of which may be for purposes other than
personal, family or household usage? sale of credit
related life and accident and health, or decreasing or
level (in the case of singly payment loans) term life
insurance to cover the outstanding balances of credit
transactions (singly or jointly with co-signers in the
case of life coverage) in the event of death, or, to
make contractual monthly payments of the credit transactions in the event of obligor1 s disability by licensed
agents or brokers to the extent permissible under applicable State laws and regulations; the sale of credit
related property and casualty insurance protecting
personal and real property subject to a security agreement with Citicorp Person-to-Person Financial Center,
Inc. and to include liability coverage in home and
automobile policies where such is the general practice
by licensed agents or brokers to the extent permissible
under applicable State insurance laws and regulations;
credit related decreasing term life insurance and
accident and health insurance may be reinsured by Family
Guardian Life Insurance Company (formerly known as
Gateway Life Insurance Company) an affiliate of Citicorp
Person-to-Person Financial Center, Inc.; further, in
regard to the sale of credit-related insurance, the
subsidiary will not act as a general insurance agency)
at 5718 Virginia Beach Blvd., Norfolk, Virginia, through
its subsidiary, Citicorp Person-to-Person Financial
Center, Inc. (9/5/78) 3/
Citicorp, New York, New York, notification of intent to
engage in de novo activities (making loans to individuals
(for personal, family or household usage) and businesses
to finance the purchase of mobile hemes, modular units
or related manufactured housing together with the real
property to which such housing will be permanently
affixed, such property being used as the security of the
loans; sale of credit related life and accident and
health insurance to cover the outstanding balances of
37 4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 36
-14APPLICATIONS RECEIVED-Caritinued
credit transactions singly or jointly with co-signers in
the case of the obligor's disability by licensed agents
or brokers to the extent permissible under applicable
State insurance laws and regulations; the sale of credit
related property and casualty insurance protecting such
property subject to a security agreement with Citicorp
Person-to-Person Financial Center, Inc. and to include
liability coverage where such is the general practice by
licensed agents or brokers to the extent permissible
under applicable State insurance laws and regulations ;
credit related decreasing term life insurance and accident
and health insurance may be directly insured or reinsured
by Family Guardian Life Insurance Company, an affiliate
of Citicorp Person-to-Person Financial Center, Inc.) at
9000 Keystone Crossing, Suite 110, Indianapolis, Indiana,
through its subsidiary, Citicorp Person-to-Person Financial
Center, Inc. (9/7/78) 3/
The Hongkong and Shanghai Banking Corporation, Hong Kong,
B.C.C., Kellett N.V., Curacao, Netherlands, Antilles and
HSBC Holdings B.V., Amsterdam, The Netherlands, for
approval to acquire Marine Midland Realty Credit Corporation, Buffalo, New York; Marine Midland Leasing Corporation,
Buffalo, New York; M. M. Leasing Service, Inc., Buffalo,
New York; American Dimensions, Inc., Irvine, California;
and The Meairs Company, Irvine, California with offices
in Riverside and Covina, California and Phoenix, Arizona.
Manufacturers Hanover Corporation, New York, New York,
notification of intent to engage in de novo activities
(arranging, making or acquiring for its own account or
for the account of others, loans and other extensions of
credit such as would be made or acquired by a mortgage
company; servicing such loans and other extensions of
credit; and engaging through an indirect subsidiary,
known as CMC Insurance Agency, Inc., in acting as insurance agents or broker for the sale of credit life and
credit accident and health insurance relating to such
loans and other extensions of credit) at Woodfield
Executive Plaza, 600 Woodfield Drive, Schaumburg,
Illinois, through its subsidiary, Citizens Mortgage
Corporation (9/8/78) 3/
37 4(c) (8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2, 1978 No. 36
- 15 APPLICATIONS RECEIVED-Continued
Pittsburgh National Corporation, Pittsburgh, Pennsylvania,
notification of intent to engage in de novo activities
(acting as agent for various non-affiliated insurance
companies in the sale or solicitation of orders for
accident and health insurance, accidental death insurance and mortgage redemption life insurance on debtors
in connection with mortgages made or serviced by The
Kissell Company; these activities would include, but not
be limited to, receiving and collecting premiums for
such various forms of insurance whether sold through the
insurance agency of The Kissell Company or otherwise) at
30 Warder Street, Springfield, Ohio, through its whollyowned subsidiary, The Kissell Company, Springfield, Ohio
(9/7/78) 3/
First National Holding Corp., Atlanta, Georgia, notification of intent to engage in de novo activities (operating
as an industrial bank which shall include the accepting
of deposits, issuing of certificates of deposit, engaging
in general consumer lending business and limited commercial lending business) in Grand Junction, Colorado,
through a subsidiary, Gulf Finance Corp. (9/8/78) 3/
Banko, Inc., Osceola, Icwa, notification of intent to
engage in de novo activities (acting as agent or broker
in the sale of credit life, health and accident insurance incidental to extensions of credit by its subsidiary) at U.S. Highway 34 West, Osceola, lava, through
its subsidiary, Banko Insurance Agency (9/7/78) 3/
Hawaii Bancorporation, Inc., Honolulu, Hawaii, notification
of intent to engage in de novo activities (the financing
of personal property and equipment and real property and
the leasing of such property or acting as agent, broker
or adviser in leasing and/or financing of such property,
and the servicing of such financings and/or leases as is
authorized by the Federal Reserve Board under Regulation
Y and Bank Holding Company Act) at 111 South King Street,
Honolulu, Hawaii, through its subsidiary, Hawaii Bancorporation Leasing, Inc. (9/5/78) 3/
37 4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf
of the Board of Governors under delegated authority.
H.2,1978No. 36
-16REPQKTS RECEIVED
Proxy Statement (Special Meeting) filed Pursuant to
Section 14 (a) of the Securities Exchange Act
The Lorain County Savings & Trust Co., Elyria, Ohio.
* * * * *
PETITIONS FOR RULEMAKING
None.
@FedFRASER