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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H .2 , 1980 No. 47)

A c t i o n s of t h e Board ; A p p l i c a t i o n s and R e p o r t s

Received During t h e Week Ending November 22 , 1980 APPLICABLE ' . —

RESERVE BANK ACTIONS OF THE BOARD

S t a t e m e n t by Chairman Paul A. Volcker b e f o r e t h e Sub-commi t t ee on Domestic Monetary P o l i c y of t he House Banking Commit tee , commenting on t h e e v e n t s of t h e p a s t y e a r in t he a r e a of mone t a ry p o l i c y and t o o u t l i n e some of t h e key problems in t h e f u t u r e .

S t a t e m e n t by Governor Lyle E. Gramley b e f o r e the Sena t e Banking Committee on Amendment No. 1586 to t h e A. P h i l i p Randolph I n s t i t u t e B i l l (H.R. 5625) to p r o h i b i t bank ing o r g a n i z a t i o n s f rom a c q u i r i n g a s a v i n g s bank , a s a v i n g s and loan a s s o c i a t i o n , o r a s a v i n g s and loan h o l d i n g com-pany e x c e p t where n e c e s s a r y t o p reven t i n s o l v e n c y o r r e s t o r e s o l v e n c y .

The Board announced a d o p t i o n of a Systemwide program t o improve t h e q u a l i t y of t h e n a t i o n ' s c u r r e n c y t h rough t h e use of h i g h speed e l e c t r o n i c c u r r e n c y e x a m i n a t i o n e q u i p -ment .

R e i n s t a t e m e n t of the P r i c i n g P o l i c y Commit tee and P r i c i n g Task Fo rce to d e a l w i t h ma jo r i s s u e s of s e r v i c e and p r i c -ing p o l i c y p r i o r to and d u r i n g t h e e a r l y phases of the F e d e r a l Rese rve S y s t e m ' s new fee s c h e d u l e f o r s e r v i c e .

L e t t e r in r e s p o n s e to a d i v e s t i t u r e p r o p o s a l by W i l s h i r e ? O i l Company of T e x a s , J e r s e y C i t y , New J e r s e y .

q The Board announced t h e p romot ion of Mr. Donald J . Winn, as an A s s i s t a n t to t h e Board f o r C o n g r e s s i o n a l L i a i s o n .

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 2 , 1980 No. 47

Dal l a s

San F r a n c i sco

ACTIONS OF THE BOARD-Continued

To e s t a b l i s h a Domest ic Branch P u r s u a n t to S e c t i o n 9 of t h e F e d e r a l R e s e r v e Act

Approved Mimbres V a l l e y Bank, Deming, New Mexico . Branch t o

be e s t a b l i s h e d a t 1000 South Ruby Avenue, Deming, New Mexico. _1/ & 27

Uni t ed C a l i f o r n i a Bank, Los A n g e l e s , C a l i f o r n i a . Branch to be e s t a b l i s h e d in t h e v i c i n i t y of t h e i n t e r s e c t i o n o r highway 111 and Count ry Club D r i v e , Rancho M i r a g l , R i v e r s i d e Coun ty , C a l i f o r n i a . 1/ & 2]

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I s s u e d I n t e n t Not t o D i s a p p r o v e change of C o n t r o l P u r s u a n t t o Change i n Bank C o n t r o l Act of 1978

S t . Lou i s P e o p l e s of I n d i a n o l a , I n c . , I n d i a n o l a , M i s s i s s i p p i . \ j

S t . L o u i s F i r s t N a t i o n a l Hold ing C o r p o r a t i o n of 0 ' F a l l o n , 0 ' F a l l o n , I l l i n o i s . \ j

Kansas C i t y R u s s e l l S t a t e B a n c s h a r e s , I n c . , R u s s e l l , Kansas . 1/

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To Become a Member of t he F e d e r a l Reseve System P u r s u a n t t o S e c t i o n 9 of t h e F e d e r a l Rese rve Act

Kansas C i t y Approved

C i t i z e n s Bank, L i t t l e t o n , C o l o r a d o . 1/ & 2 /

1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of t he Board of Governors under d e l e g a t e d a u t h o r i t y .

2 / A p p l i c a t i o n s u b j e c t to community R e i n v e s t m e n t A c t . The Community Re inves tmen t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to t h e l e n g t h of t he comment p e r i o d .

I Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H . 2 , 1980 No.47 - 3 -

A p p l i c a t i o n s and N o t i f i c a t i o n s f o r I n t e r n a t i o n a l I n v e s t -ments and Othe r A c t i o n s P u r s u a n t to S e c t i o n 25 and 2 5 ( a ) of the F e d e r a l Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of t h e Bank Hold ing Company Act of 1956, as amended

Approved Chicago The F i r s t N a t i o n a l Bank of Ch i cago , C h i c a g o , I l l i n o i s :

g r a n t s c o n s e n t f o r F i r s t Chicago I n t e r n a t i o n a l F inance C o r p o r a t i o n to amend A r t i c l e ELEVENTH of i t s A r t i c l e s of A s s o c i a t i o n

New York C i t i b a n k , N . A . , New York, New York: No o b j e c t i o n to e s t a b l i s h a b ranch i n I s t a n b u l , Turkey

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To Form a Bank Hold ing Company P u r s u a n t to S e c t i o n 3 ( a ) ( 1 ) of t h e Bank Ho ld ing Company Act of 1956

Withdrawn Chicago W i l l i a m s b u r g Hold ing Company, Omaha, Nebraska

f o r a p p r o v a l t o a c q u i r e 90 p e r c e n t o r more of the v o t i n g s h a r e s of S e c u r i t y S a v i n g s Bank, W i l l i a m s b u r g , Iowa

Approved A t l a n t a B .P .C . C o r p o r a t i o n , C o o k e v i l l e , T e n n e s s e e

f o r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of Bank of Putnam County , C o o k e v i l l e , T e n n e s s e e If & 2j

A t l a n t a DeSota Banking C o r p o r a i o n , A r c a d i a , F l o r i d a , f o r a p p r o v a l to a c q u i r e a t l e a s t 100 p e r c e n t of t h e v o t i n g s h a r e s of The F i r s t S t a t e Bank of A r c a d i a , A r c a d i a , F l o r i d a \J & 2/

A t l a n t a P e o p l e s E q u i t y S h a r e s , I n c . , C a r r o l l t o n , G e o r g i a , f o r a p p r o v a l t o a c q u i r e a t l e a s t 90 p e r c e n t of t he v o t i n g s h a r e s of The P e o p l e s Bank, C a r r o l 1 t o n , Georg ia _1/ & 2 /

Chicago Ant ioch Hold ing Company, A n t i o c h , I l l i n o i s , f o r a p p r o v a l to a c q u i r e 80 p e r c e n t of t h e v o t i n g s h a r e s of S t a t e Bank of A n t i o c h , A n t i o c h , I l l i n o i s V & 7 j

1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y .

2 / A p p l i c a t i o n s u b j e c t to Community Re inves tmen t A c t . The Community Re inves tmen t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d .

H . 2 , 1980 No.47 -k-

Chicago Mahaska I n v e s t m e n t Company, O s k a l o o s a , Iowa , f o r a p p r o v a l to a c q u i r e 80 p e r c e n t of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank o f Sumner, Sumner, Iowa . 1/ & 2 /

Ch icago Rock fo rd Bancorp I n c . , Rock f o r d , I l l i n o i s , f o r a p p r o v a l t o a c q u i r e 9 7 . 7 p e r c e n t of the v o t i n g s h a r e s of The I l l i n o i s N a t i o n a l Bank & T r u s t Company of Rock f o r d , R o c k f o r d , I l l i n o i s . 1/ & 7 j

Kansas C i t y Cov ing ton F i r s t S t a t e B a n c s h a r e s , I n c . , C o v i n g t o n , Oklahoma, f o r p r i o r a p p r o v a l t o a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of F i r s t S t a t e Bank, C o v i n g t o n , Oklahoma. If & 2 /

Kansas C i t y Derby B a n c s h a r e s , I n c . , Derby , K a n s a s , f o r a p p r o v a l t o a c q u i r e 96 p e r c e n t of t he v o t i n g s h a r e s of F i r s t N a t i o n a l Bank of Derby , Derby , K a n s a s . JV & 7J

D a l l a s E a s t Texas B a n c o r p o r a t i o n , I n c . , P a l e s t i n e , T e x a s , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of The E a s t Texas N a t i o n a l Bank o f P a l e s t i n e , P a l e s t i n e , T e x a s . If & 2 j

D a l l a s F .N .B . S t i n n e t t B a n c S h a r e s , I n c . , S t i n n e t t , T e x a s , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of F i r s t N a t i o n a l Bank of S t i n n e t t , S t i n n e t t , Texas 1/ & 2/

D a l l a s H a r r i s County B a n k s h a r e s , I n c . , H o u s t o n , T e x a s , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of Bank of H a r r i s Coun ty , N a t i o n a l A s s o c i a t i o n , A l d i n e , ( P . O . H o u s t o n ) , Texas 1/ & 2 /

D a l l a s Zava la B a n k s h a r e s , I n c o r p o r a t e d , C r y s t a l C i t y , T e x a s , f o r a p p r o v a l to a c q u i r e 9 7 . 2 5 p e r c e n t of t h e v o t i n g s h a r e s of Zava la County Bank, C r y s t a l C i t y , T e x a s . J 7 & 2 /

San E n t e r p r i s e B a n c o r p , Oak land , C a l i f o r n i a , f o r a p p r o v a l t o F r a n c i s c o a c q u i r e a t l e a s t 100 p e r c e n t of t he v o t i n g s h a r e s of

F i r s t E n t e r p r i s e Bank, Oak l and , C a l i f o r n i a . JL/ & 2 /

1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of t he Board of Governors under d e l e g a t e d a u t h o r i t y .

2 / A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community Re inves tmen t O f f i c e r of t h e a p p l i c a b l e Rese rve Bank may be c o n t a c t e d as to t h e l e n g t h of t he comment p e r i o d .

H . 2 , 1980 No.47 - 5 -

To Expand a Bank H o l d i n g Company P u r s u a n t to S e c t i o n 3 ( a ) ( 3 ) of t h e Bank H o l d i n g Company Act of 1956

Approved C h i c a g o M a r s h a l l & I l s l e v C o r p o r a t i o n , Mi lwaukee , W i s c o n s i n , f o r

a p p r o v a l t o a c q u i r e A f f i l i a t e d Bank C o r p o r a t i o n , Mad i son , W i s c o n s i n and i n d i r e c t l y a c q u i r e 90 p e r c e n t o r more of t h e v o t i n g s h a r e s of A f f i l i a t e d Bank of M a d i s o n , Mad i son , W i s c o n s i n ; A f f i l i a t e d Bank of H i l l d a l e , Mad i son , W i s c o n s i n ; A f f i l i a t e d Bank o f James town , F i t c h b u r g Township , (P .O . Mad i son ) W i s c o n s i n ; A f f i l i a t e d Bank of Midd l e t o n , Midd le t o n , W i s c o n s i n and A f f i l i a t e d Bank o f C a m b r i d g e , Cambr idge , W i s c o n s i n . If & 2 /

M i n n e a p o l i s N o r t h s t a r B a n c o r p o r a t i o n , I n c . , Wayza ta , M i n n e s o t a , f o r a p p r o v a l to a c q u i r e 9 8 . 9 p e r c e n t of t h e v o t i n g s h a r e s of M i n n e t o n k a S t a t e Bank, E x c e l s i o r , M i n n e s o t a . 1/ & 2/

Kansas C i t y Wood & H u s t o n B a n c o r p o r a t i o n , I n c . , M a r s h a l l , M i s s o u r i , f o r a p p r o v a l t o to a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of Sou th E a s t M i s s o u r i Bank, Cape G i r a d e a u , M i s s o u r i , a p r o p o s e d new b a n k . 1/ & 2/

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To Expand a Bank H o l d i n g Company P u r s u a n t to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank H o l d i n g Company Act of 1956

Approved New York The Chase M a n h a t t a n C o r p o r a t i o n , New Y o r k , New Y o r k , f o r

a p p r o v a l t o engage _de novo i n t h e i s s u a n c e and s a l e of t r a v e l e r s c h e c k s .

A t l a n t a P e o p l e s E q u i t y S h a r e s , I n c . , C a r r o l I t o n , G e o r g i a , f o r a p p r o v a l to e n g a g e de novo i n t h e , l e a s i n g of equ ipmen t t o c o r p o r a t i o n s and i n d i v i d u a l s t h r o u g h P e o p l e s E q u i t y L e a s i n g Company, I n c . , C a r r o l l t o n , G e o r g i a . J L /

Ch icago B a x t e r I n s u r a n c e Agency , I n c . , B a x t e r , I o w a , f o r a p p r o v a l to c o n t i n u e to engage in i n s u r a n c e a c t i v i t i e s i n a community t h a t has a p o p u l a t i o n not e x c e e d i n g 5 , 0 0 0 . J J

C h i c a g o Mahaska I n v e s t m e n t Company, O s k a l o o s a , Iowa , f o r a p p r o v a l t o c o n t i n u e l e a s i n g a bank b u i l d i n g t o a bank and c o n -t i n u e l e a s i n g p e r s o n a l p r o p e r t y to b u s i n e s s e s , f a rm o p e r a -t o r s and i n d i v i d u a l s t h r o u g h whol ly -owned s u b s i d i a r y , MIC L e a s i n g C o . , O s k a l o o s a , Iowa. 1/

JL/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of t he Board of Governor s u n d e r d e l e g a t e d a u t h o r i t y .

2 / A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community R e i n v e s t m e n t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d a s to t h e l e n g t h of t he comment p e r i o d .

a Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H. 2 , 1980 No.47 - 6 -

Chicago M a r s h a l l and I l s l e y C o r p o r a t i o n , Milwaukee, W i s c o n s i n , f o r a p p r o v a l to a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of A f f i l i a t e d L e a s i n g C o r p . , Madison, W i s c o n s i n .

Chicago Nebo C o r p o r a t i o n , P i s g a h , Iowa, for a p p r o v a l to c o n t i n u e t o engage d i r e c t l y as agent in the s a l e of g e n e r a l i n -i n s u r a n c e in a town wi th a p o p u l a t i o n of l e s s t h a n 5 , 0 0 0 . 1./

M i n n e a p o l i s Commercial S t a t e B a n c s h a r e s , I n c . , Two H a r b o r s , M i n n e s o t a , fo r a p p r o v a l to c o n t i n u e to engage in g e n e r a l i n s u r a n c e agency a c t i v i t i e s in a town w i t h a p o p u l a t i o n of l e s s t h a n 5 , 0 0 0 . _1/

Kansas C i t v O l i v e r J e n s e n Agency, I n c . , Ravenna, N e b r a s k a , f o r approva l to c o n t i n u e to engage i n g e n e r a l i n s u r a n c e agency a c t i v i t -i e s in a community of l e s s than 5 , 0 0 0 p o p u l a t i o n . J[J

Delayed Kansas C i t y C.S.B. C o . , Cozad, N e b r a s k a , n o t i f i c a t i o n of i n t e n t to engage

in de novo a c t i v i t i e s ( t o engage in a l l t y p e s of i n s u r a n c e i n c l u d i n g , but n o t l i m i t e d t o : l i f e , a u t o , f i r e , mar ine and a l l i e d l i n e s , h a i l i n s u r a n c e , f i d e l i t y b o n d s , h e a l t h and a c c i d e n t i n s u r a n c e , e t c . ) a t 920 M e r i d i a n , Cozad, Nebraska , t h rough i t s s u b s i d i a r y , C .S .B . I n s u r a n c e Agency ( 1 1 / 2 1 / 8 0 ) 3/

R e a c t i v a t e d Kansas C i t y Uni ted M i s s o u r i B a n c s h a r e s , I n c . , Kansas C i t y , M i s s o u r i ,

n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage i n mor tgage bank ing a c t i v i t i e s ) to be l o c a t e d on the p r e m i s e s of Uni ted M i s s o u r i Bank of F e r g u s o n , F e r g u s o n , M i s s o u r i , t h r o u g h i t s s u b s i d i a r y , Uni ted M i s s o u r i Mortgage Company ( 1 1 / 1 7 / 8 0 _3/

1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the Board of Governors under d e l e g a t e d aut h o r i t v .

3/ 4 ( c ) ( 8 ) o r 4 ( c ) (12) n o t i f i c a t i o n p r o c e s s e d by Rese rve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .

H.2 , 1980 No. 47 7

ACTIONS OF THE BOARB-Continued

P e r m i t t e d Kansas C i t y

Kansas C i t y

San F r a n c i s c o

Farmers E n t e r p r i s e s , I n c . , A l b e r t , Kansas , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage in p e r s o n a l and r e a l p r o p e r t y l e a s i n g a c t i v i t i e s ) a t an o f f i c e in A l b e r t , Kansas ( 1 1 / 2 1 / 8 0 ) 3/

Uni ted M i s s o u r i B a n c s h a r e s , I n c . , Kansas C i t y , M i s s o u r i , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage i n mortgage banking a c t i v i t i e s ) to be l o c a t e d on the p remises of Uni ted M i s s o u r i Bank of F e r g u s o n , Fe rguson , M i s s o u r i , t h rough i t s s u b s i d i a r y , Uni ted M i s s o u r i Mortgage Company ( 1 1 / 1 7 / 8 0 ) 3 /

Wel l s F a r g o & Company, San F r a n c i s c o , C a l i f o r n i a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o engage in a c t -i n g as agent fo r c r e d i t p r o p e r t y and c a s u a l t y i n s u r a n c e and a s s o c i a t e d l i a b i l i t y i n s u r a n c e r e l a t e d t o WFCC's e x t e n s i o n s of c r e d i t to t h e e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws o r r e g u l a t i o n s ) t h e s e a c t i v i t i e s would be c o n d u c t e d from o f f i c e s i n Phoen ix and Tucson , A r i z o n a , th rough i t s s u b s i d i a r y , Wells Fargo C r e d i t C o r p o r a t i o n , ( 1 1 / 1 7 / 8 0 ) 3/

37 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .

H . 2 , 1980 No. 47 - 8 -

To Form a Bank Ho ld ing Company P u r s u a n t to S e c t i o n 3 ( a ) ( 1 ) of t h e Bank Hold ing Company Act of 1956

A t l a n t a Marion B a n c s h a r e s , I n c . , J a s p e r , T e n n e s s e e , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of Mar ion T r u s t and Banking Company, J a s p e r , T e n n e s s e e . j I j

A t l a n t a South G e o r g i a B a n k s h a r e s C o r p . , Lyons , G e o r g i a , f o r ap -p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of t he v o t i n g s h a r e s of The P e o p l e s Bank of L y o n s , Lyons , G e o r g i a . 2J

Chicago PTD B a n c o r p . , I n c . , P o t o s i , W i s c o n s i n , f o r a p p r o v a l t o a c q u i r e to a c q u i r e 80 p e r c e n t of t h e v o t i n g s h a r e s of P o t o s i S t a t e Bank, P o t o s i , W i s c o n s i n . 2j

S t . Lou i s F i r s t s u b , I n c . , S t . L o u i s , M i s s o u r i for, a p p r o v a l to a c q u i r e 8 4 . 2 p e r c e n t of the v o t i n g s h a r e s of Columbia Union N a t i o n a l Bank and T r u s t Company, Kansas C i t y , M i s s o u r i . 2]

S t . L o u i s P l a n t e r s Ho ld ing Company, I n d i a n o l a , M i s s i s s i p p i , f o r a p p r o v a l to a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of P l a n t e r s Bank & T r u s t Company, R u l e v i l l e , M i s s i s s i p p i . 2/ .

M i n n e a p o l i s Dakota County B a n c s h a r e s , I n c . , Mendota H e i g h t s , Minneso t a f o r a p p r o v a l to a c q u i r e 100 p e r c e n t of t h e v o t i n g s h a r e s of Dakota County S t a t e Bank, Mendota H e i g h t s , M i n n e s o t a . 2/

M i n n e a p o l i s FINANCIAL BANCSHARES COMPANY, Becke r , M i n n e s o t a , f o r a p p r o v a l t o a c q u i r e a t l e a s t 9 3 . 3 p e r c e n t of the v o t i n g s h a r e s of S a n t i a g o S t a t e Bank, S a n t i a g o , M i n n e s o t a . 2J

M i n n e a p o l i s Middle R i v e r B a n c s h a r e s , I n c . , Middle R i v e r , M i n n e s o t a , f o r a p p r o v a l to a c q u i r e 9 4 . 1 1 p e r c e n t of t h e v o t i n g s h a r e s of t he F i r s t N a t i o n a l Bank, Middle R i v e r , M i n n e s o t a . 2 j

M i n n e a p o l i s New Salem B a n c o r p o r a t i o n , I n c . , New Salem, North Dako ta , f o r a p p r o v a l t o a c q u i r e 8 8 . 3 p e r c e n t of the v o t i n g s h a r e s t h e S e c u r i t y S t a t e Bank of New Salem, New Sa lem, North D a k o t a . 2/

M i n n e a p o l i s S e c u r i t y S t a t e Hold ing Company, L i n d s t r o m , M i n n e s o t a , f o r a p p r o v a l to a c q u i r e 96 p e r c e n t of t h e v o t i n g s h a r e s of S e c u r i t y S t a t e Bank of L i n d s t r o m , L i n d s t r o m , M i n n e s o t a . 2/

2 / A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community Re inves tmen t O f f i c e r of t h e A p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to the l e n g t h of the comment p e r i o d .

H . 2 , 1980 No. 47 - 9 -

APPLICATIONS RECEIVED-Cont inued

Kansas C i t y Ga lena B a n c s h a r e s I n c . , G a l e n a , Kansas , f o r app rova l to a c q u i r e 100 pe rcen t of t h e v o t i n g s h a r e s of C i t i z e n s S t a t e Bank i n G a l e n a , G a l e n a , Kansas . 2j

D a l l a s C h i l d r e s s B a n c s h a r e s , I n c . , C h i l d r e s s , T e x a s , fo r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank i n C h i l d r e s s , C h i l d r e s s , T e x a s . 2 /

D a l l a s J e r s e y V i l l a g e B a n c s h a r e s , I n c . , H o u s t o n , T e x a s , f o r app rova l to a c q u i r e 100 p e r c e n t (Less D i r e c t o r s Q u a l i f y i n g S h a r e s ) of t h e v o t i n g s h a r e s of J e r s e y V i l l a g e Bank, J e r s e y V i l l a g e , ( P . O . H o u s t o n ) T e x a s . 2/

D a l l a s N o r t h e r n B a n c s h a r e s , I n c . , C h i l l i c o t h e , Texas f o r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of t h e v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank of C h i l l i c o t h e , C h i l l i c o t h e , T e x a s . 2/

D a l l a s Union B a n c s h a r e s , I n c o r p o r a t e d , San A n t o n i o , T e x a s , f o r a p p r o v a l t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of Union S t a t e Bank, San A n t o n i o , T e x a s . 2 /

* * * * *

To Expand a Bank Hold ing Company P u r s u a n t t o S e c t i o n 3 ( a ) 3 of t h e Bank H o l d i n g Company Act of 1956

Chicago F i r s t S o u t h e a s t Banking Corp . , D a r i e n , W i s c o n s i n , f o r a p p r o v a l t o a c q u i r e 8 7 . 7 5 p e r c e n t of t he v o t i n g s h a r e s o f F i r s t Bank S o u t h e a s t N .A . , Kenosha, W i s c o n s i n . 2 /

Chicago F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , Wiscons in f o r a p p r o v a l to a c q u i r e 8 8 . 0 5 p e r c e n t of t h e v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of Lake Geneva, N . A . , Lake Geneva, W i s c o n s i n . 2 /

Chicago F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , W i s c o n s i n , f o r a p p r o v a l to a c q u i r e 8 8 . 7 5 p e r c e n t of t h e v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of S i l v e r Lake , S i l v e r Lake , W i s c o n s i n . 2J

Chicago F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , W i s c o n s i n , f o r a p p r o v a l to a c q u i r e 8 8 . 7 5 p e r c e n t of t h e v o t i n g s h a r e s of F i r s t Bank S o u t h e a s t of Twin Lakes , Twin Lakes , W i s c o n s i n . 2 /

2 / A p p l i c a t i o n s u b j e c t to Community R e i n v e s t m e n t A c t . The Community Re inves tmen t O f f i c e r of t h e a p p l i c a b l e R e s e r v e Bank may be c o n t a c t e d as to t h e l e n g t h of t he comment p e r i o d .

H . 2 , 1980 No. 47 - 1 0 -

APPLI CAT IONS RECEIVED-Cont inued

Chicago F i r s t S o u t h e a s t Banking C o r p . , D a r i e n , W i s c o n s i n , f o r a p p r o v a l t o a c q u i r e 80 p e r c e n t of t he v o t i n g s h a r e s o f F i r s t Bank S o u t h e a s t o f West Kenosha, Kenosha, W i s c o n s i n . 2/

S t . L o u i s F i r s t Union B a n c o r p o r a t i o n , S t . L o u i s , M i s s o u r i , f o r a p p r o v a l to a c q u i r e 8 4 . 2 p e r c e n t of t h e v o t i n g s h a r e s of Columbia Union N a t i o n a l Bank and T r u s t Company, Kansas C i t y , M i s s o u r i . 2 /

* * * * *

To Expand a Bank Hold ing Company P u r s u a n t to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank H o l d i n g Company Act of 1956

Boston F i r s t N a t i o n a l Bos ton C o r p o r a t i o n , Bos ton , M a s s a c h u s e t t s , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( i n d a t a p r o c e s s i n g s e r v i c e s a c t i v i t i e s f o r t h e i n t e r n a l o p e r a t i o n s of B a l t i m o r e F e d e r a l Sav ings and Loan a s s o c i a -t i o n ) a t an o f f i c e to be l o c a t e d a t F a y e t t e and S t . P a u l S t r e e t s , B a l t i m o r e , Mary land , t h r o u g h i t s i n d i r e c t s u b -s i d i a r y , F i r s t o f Bos ton C o m p u t e r i s t i c s , I n c . ( 1 1 / 2 0 / 8 0 ) 3J

Boston I n d u s t r i a l N a t i o n a l C o r p o r a t i o n , P r o v i d e n c e Rhode I s l a n d , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( a c t i n g a s i n s u r a n c e agen t f o r t he s a l e of c r e d i t p r o p e r t y i n s u r a n c e o f f e r e d i n c o n n e c t i o n w i t h e x t e n s i o n s of c r e d i t ) a t Highway 41 S o u t h , John A c u f f P r o f e s s i o n a l B u i l d i n g , J a s p e r , T e n n e s s e e , t h r o u g h i t s i n d i r e c t s u b s i d i a r y , S o u t h e r n D i s c o u n t Company of T e n n e s s e e ( 1 1 / 2 1 / 8 0 ) 3 /

Boston Old S tone C o r p o r a t i o n , P r o v i d e n c e , Rhode I s l a n d , n o t i f i c a -t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t h e o r i g i n a -t i o n , s a l e and s e r v i c i n g of f i r s t and second mor tgage l o a n s and t h e s a l e of c r e d i t l i f e and c r e d i t h e a l t h and a c c i d e n t i n s u r a n c e o f f e r e d in c o n n e c t i o n wi th e x t e n s i o n s of c r e d i t ) a t an o f f i c e l o c a t e d a t S u i t e 227, 10999 Reed Hartman Highway, C i n c i n n a t i , O h i o , t h r o u g h i t s i n d i r e c t s u b s i d i a r y UniMortgage C o r p o r a t i o n of Ohio ( 1 1 / 2 0 / 8 0 ) 3 /

2 / A p p l i c a t i o n s u b j e c t to Community Re inves tmen t A c t . The Community Re inves tmen t O f f i c e r of t h e a p p l i a b l e R e s e r v e Bank may be c o n t a c t e d

3 j 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board ef Governors under d e l e g a t e d a u t h o r i t y .

H . 2 , 1980 No.47 - 1 1 -

APPLICATIONS RECEIVED-Continued

New York Chemical New York C o r p o r a t i o n , New York , New York, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( i n a c t i v i t i e s t h a t may be c a r r i e d on by an i n v e s t m e n t a d v i s o r , i n c l u d i n g o f f e r i n g p o r t f o l i o i n v e s t m e n t a d v i c e to i n d i v i d u a l s , c o r p o r a t i o n s , governmenta l e n t i t i e s and o t h e r i n s t i t u t i o n s on bo th a d i s c r e t i o n a r y and n o n - d i s -c r e t i o n a r y b a s i s ) a t 215 Madi son , Tampa, F l o r i d a , t h r o u g h i t s s u b s i d i a r y , ICM of t he Sou th , I n c . , ( 1 1 / 2 1 / 8 0 ) 3 /

New York JCT T r u s t Company L i m i t e d , Tel A v i v , I s r a e l O t z a r H i t y a s h v u t h Hayedudim B.M., Te l A v i v , I s r a e l Bank Leumi l e - I s r a e l B .M. ,Te l A v i v , I s r a e l

f o r a p p r o v a l t o c o n t i n u e t o engage in mak ing , a c q u i r i n g and s e r v i c i n g commercia l l o a n s and o t h e r e x t e n s i o n s of c r e d i t s ecu red by a b o r r o w e r ' s i n v e n t o r y , a c c o u n t s r e c e i v a b l e , o r o t h e r a s s e t s , i n d i r e c t l y th rough t h e i r s u b s i d i a r y , Leumi F i n a n c i a l C o r p o r a t i o n

P h i l a d e l p h i a H e r i t a g e B a n c o r p o r a t i o n , Cherry H i l l , New J e r s e y , n o t i f i c a -t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making o r a c q u i r i n g f o r i t s own account o r f o r the accoun t of o t h e r s , l o a n s s ecu red by mor tgages on commercia l o r r e s i d e n t i a l p r o p e r t y , c o n s t r u c t i o n p r o j e c t s o r v a c a n t l a n d ; s e r v i c i n g of mor tgage l o a n s td i ich w i l l i n c l u d e FHA, VA and commercia l l o a n s ; and a c t i n g a s s a l e s agen t f o r c r e d i t l i f e i n s u r a n c e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e on m o r t a g e loans o r i g i n a t e d o r s e r v i c e d by t h e company) a t S u i t e 103, 167 5 Palm Beach Lake B o u l e v a r d , West Palm Beach, F l o r i d a , t h r o u g h i t s s u b s i d i a r y , H e r i t a g e Mor tgage F i n a n c e Company ( 1 1 / 1 9 / 8 0 3 /

C leve l and Mel lon N a t i o n a l C o r p o r a t i o n , P i t t s b u r g h , P e n n s y l v a n i a , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( l e a s i n g of r e a l o r p e r s o n a l p r o p e r t y o r a c t i n g a s a g e n t , b r o k e r , o r a d v i s o r i n t h e l e a s i n g of such p r o p e r t y , i n a d d i t i o n t h e company w i l l make o r a c q u i r e f o r i t s own a c c o u n t , o r t h e account of o t h e r s , loan or o t h e r e x t e n -s i o n s of c r e d i t to be secured by r e a l o r p e r s o n a l p r o p e r t y . T h i s l e n d i n g a c t i v i t y w i l l i n c l u d e , bu t would n o t be l i m i t e d t o , f i n a n c i n g r e a l o r p e r s o n a l p r o p e r t y t h r o u g h c o n d i t i o n a l s a l e s a g r e e m e n t s ; f i n a l l y , t h e company w i l l s e r v i c e l e a s e s on r e a l or p e r s o n a l p r o p e r t y and loans secu red by r e a l o r p e r s o n a l p r o p e r t y fo r i t s own accoun t o r the accoun t of o t h e r s ) a t 3629 Mel lon Bank B u i l d i n g , P i t t s b u r g h , P e n n s y l v a n i a , t h rough i t s s u b s i d i a r y , Mel lon L e a s i n g and Management Company. ( 1 1 / 7 / 8 0 ) 3/

4 ( c ) ( 8 ) 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .

H.2 , 1980 No. 47 - 1 2 -

A t l a n t a Levy County B a n c o r p o r a t i o n , C h i e f l a n d , F l o r i d a , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o ac t as agen t or b r o k e r f o r t h e s a l e of c r e d i t l i f e , c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d t o e x t e n s i o n s of c r e d i t by i t s s u b s i d i a r y bank or b r a n c h e s , a c t as agent or b r o k e r i n the s a l e of any i n s u r a n c e f o r the h o l d i n g company and i t s s u b s i d i a r y bank o r b r a n c h e s and to a c t as agent o r b r o k e r i n t h e s a l e of any i n s u r a n c e s o l d i n a community t h a t has a p o p u l a t i o n n o t e x c e e e d i n g 5 ,000) a t o f f i c e s l o c a t e d i n C h i e f l a n d , I n g l i s and Bronson , F l o r i d a ( 1 1 / 1 8 / 8 0 ) 3 /

At la in ta Sou thwes t F l o r i d a Banks , I n c . , F o r t Myers , F l o r i d a , n o t i f i c a -t i o n of i n t e n t to engage in de novo a c t i v i t i e s ( t o o r i g i n a t e r e s i d e n t i a l r e a l e s t a t e mor tgage l o a n s and h o l d t h e l o a n s u n t i l s a l e in the s e c o n d a r y m a r k e t ) a t an o f f i c e l o c a t e d i n F o r t Myers , F l o r i d a , t h r o u g h a s u b s i d i a r y , Sou thwes t M o r t -gage S e r v i c e s , I n c . ( 1 1 / 1 7 / 8 0 3/

Chicago H a r r i s B a n k c o r p , I n c . , C h i c a g o , I l l i n o i s , n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (making o r a c q u i r i n g fo r i t s own accoun t f i r s t mor tgage r e s i d e n t i a l r e a l e s t a t e l o a n s , s e c u r e d and u n s e c u r e d i n s t a l l m e n t l o a n s and o t h e r e x t e n s i o n s of c r e d i t ( i n c l u d i n g t h rough a c c e p t a n c e of d r a f t s ) , p r i m a r i l y t o i n d i v i d u a l s , and s e l l i n g p a r t i c i p a t i n g i n (bu t not a c t i n g as u n d e r w r i t e r , agent o r b r o k e r w i th r e s p e c t t h e r e -t o ) g r o u p m o r t g a g e and c r e d i t l i f e and group mor tgage and c r e d i t h e a l t h and a c c i d e n t i n s u r a n c e c o v e r a g e d i r e c t l y r e -l a t i n g t o such l o a n s and o t h e r e x t e n s i o n s of c r e d i t . ) a t 425 S t r a t f o r d S q u a r e , B l o o m i n g d a l e , I l l i n o i s , t h rough a who l ly owned s u b s i d i a r y known as H a r r i s c o r p F i n a n c e , I n c . ( 1 1 / 1 2 / 8 0 ) 3 /

M i n n e a p o l i s FINANCIAL BANCSHARES COMPANY, Becke r , M i n n e s o t a , c o n t i n u e to engage i n t h e s a l e of g e n e r a l i n s u r a n c e in communi t i e s w i t h p o p u l a t i o n not e x c e e d i n g 5 ,000

M i n n e a p o l i s NORTHWEST INVESTMENT COMPANY OF CLOQUET, INC. , C l o q u e t , M i n n e s o t a , f o r a p p r o v a l to c o n t i n u e to engage in equipment l e a s i n g a c t i v i t i e s

3/ 4 ( c ) ( 8 ) o r 4 ( c ) (12) n o t i f i c a t i o n p r o c e s s e d by t h e Reserve Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .

H.2 , 1980 No. 47

Dal l a s

San F r a n c i s c o

San F r a n c i sco

- 1 3 -

M e r c a n t i l e Texas C o r p o r a t i o n , D a l l a s , T e x a s , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( t o engage in the a c t i v i t y of a c t i n g as a managing agent p u r s u a n t to Texas law) t h r o u g h a s u b s i d i a r y , John Ra thmal l &,Company, I n c . , D a l l a s ( 1 1 / 1 4 / 8 0 ) 3/

Old N a t i o n a l B a n c o r p o r a t i o n , Spokane , Wash ing ton , to e n g a g e , t h r o u g h i t s s u b s i d i a r y , Old N a t i o n a l F i n a n c i a l S e r v i c e s , I n c . ( i n making o r a c q u i r i n g f o r i t s own account o r f o r t h e accoun t of o t h e r s , l o a n s and o t h e r e x t e n s i o n s of c r e d i t , i n c l u d i n g t h e making of consumer i n s t a l l m e n t l o a n s , p u r c h a s i n g consumer i n s t a l l m e n t s a l e s f i n a n c e c o n t r a c t s , and t h e making of l o a n s to s m a l l b u s i n e s s e s and i n a c t i n g as an i n s u r a n c e agen t o r b r o k e r f o r t h e p u r p o s e of s e l l i n g c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e in c o n n e c t i o n wi th e x t e n s i o n s of c r e d i t by Old N a t i o n a l F i n a n c i a l S e r v i c e s , I n c . , and a c t i n g as an agen t o r b r o k e r f o r t h e p u r p o s e of s e l l i n g p r o p e r t y and c a s u a l t y i n s u r a n c e on p e r s o n a l p r o p e r t y s u b j e c t to s e c u r i t y i n t e r e s t s h e l d by Old N a t i o n a l F i n a n c i a l S e r v i c e s , I n c . , and to e n g a g e , t h rough i t s s u b s i d i a r y , Union S e c u r i t i e s C o . , i n a c t i n g as an i n s u r a n c e agen t o r b r o k e r f o r t h e p u r p o s e of s e l l i n g c r e d i t l i f e and c r e d i t a c c i d e n t and h e a l t h i n s u r a n c e in c o n n e c t i o n wi th e x t e n s i o n s of c r e d i t by Old N a t i o n a l F i n a n c i a l S e r v i c e s , I n c . , and a c t i n g as an agent o r b r o k e r f o r t h e p u r p o s e of s e l l i n g p r o p e r t y and c a s u a l t y i n s u r a n c e on p e r s o n a l p r o p e r t y s u b j e c t to s e c u r i t y i n t e r e s t s h e l d by Old N a t i o n a l F i n a n c i a l S e r v i c e s , I n c . ) f rom an o f f i c e i n S e a t t l e , Wash ing ton , s e r v i n g t h e S t a t e of Wash ing ton ( 1 1 / 1 7 / 8 0 ) 3/

S e a f i r s t C o r p o r a t i o n , S e a t t l e , Wash ing ton , n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s (making and a c q u i r i n g loans and o t h e r e x t e n s i o n s of c r e d i t s ecured by r e a l e s t a t e mor tgages and deeds of t r u s t ; and a c t i n g as agent fo r t h e s a l e of c r e d i t l i f e and a c c i d e n t and h e a l t h i n s u r a n c e d i r e c t l y r e l a t e d to i t s e x t e n s i o n s of c r e d i t ) a t 3305 S p r i n g Moun ta in , S u i t e 20 , Las Vegas , Nevada , t h r o u g h i t s S u t t e r T r u s t Company D i v i s i o n ( 1 1 / 1 7 / 8 0 ) 3 /

3 / 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p r o c e s s e d by R e s e r v e Bank on b e h a l f of t h e Board of Governors under d e l e g a t e d a u t h o r i t y .

H . 2 , 1980 No.47 - 1 4 -

REPORTS RECEIVED

C u r r e n t Repor t F i l e d P u r s u a n t to S e c t i o n 13 of t he S e c u r i t i e s Exchange Act

The Maplewood Bank and T r u s t Company, Maplewood, New J e r s e y

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PETITIONS FOR RULEMAKING

h2_19801122.pdf

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