h2_19730331.pdf

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on H.2 1973 No. 13 During the Week Ending March 31, 1973

District Date

To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act

Received 11 New Texas Bank & Trust Company of Dallas, Dallas, Texas

To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

Received Central Home Trust Company, Elizabeth, New Jersey.

Branch to be established at 606 Elizabeth Avenue, Elizabeth, Union County.

The Firestone Bank, Akron, Ohio. Branch to be established at 1249 Canton Road, Akron, Summit County.

The Hillsboro Bank and Savings Company, Hillsboro, Ohio. Branch to be established at 204 N. Washington Street, Highland County, Greenfield.

Liberty Trust Company of Maryland, Cumberland, Marylanda Branch to be established on North Mechanic Street at its intersection with Bedford Street, Cumberland, Alleghany County.

Security First Bank & Trust Company, Grand Haven, Michigan, Branch to be established at the corner of Beacon Blvd. (US-31) and Taylor Avenue, Grand Haven.

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

Ho 2 1973 No. 13 - 2 -

Received Continued 7 Liberty State Bank & Trust, Hamtramck, Michigan*, Branch

to be established in the vicinity of Highland^ Road (M-59) and Pontiac Lake Road, Waterford Township, Oakland, County.

8 Southwest Bank of St. Louis, St. Louis, Missouri. Branch to be established in the Barnes Hospital Complex Area 4949 Barnes Hospital Plaza, St. Louis.

Approved 3 -cGirard Trust Bank, Bala Cynwyd, Montgomery County, Pennsylvania.

Branch to be established on the South side of Baltimore Pike in the vicinity of War Admirallane, Middletown Township, Delaware County.

3 *The Fidelity Bank, Rosemont, Montgomery County, Pennsylvania. Branch to be established in the Overseas Terminal Building, Island Avenue approximately 500 feet east of the Industrial Highway, Philadelphia, Philadelphia County.

>V -k i< *

-Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2 1973 No. 13 - 3 -

To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956

Reactivated **Schroeder-Goodenow Management Co., Exira, Iowa, 3-28-7 3

for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Exchange State Bank, Exira, Iowa.

Withdrawn 2 **Republic New York Corporation, New York, New York, 3-29-7 3

for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Republic National Bank of New York, New York, New York.

To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956

Received 2 Cegrove Corp., Wayne Township, New Jersey, for

prior approval to acquire 100 per cent of the voting shares of The Ramapo Bank, Wayne Township, New Jersey.

5 First & Merchants Corporation, Richmond, Virginia, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Mountain Trust Bank, Roanoke, Virginia.

6 Southeast Banking Corporation, Miami, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Peoples Bank of Venice, Venice, Florida.

7 Michigan National Corporation, Bloomfield Hills, Michigan, for prior approval to acquire 100 per cent (less directors * qualifying shares) of the voting shares of the successor by merger to Central Bank, National Association, Grand Rapids, Michigan.

**Processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

i


Received Continued Michigan National Corporation, Bloomfield

Hills, Michigan, for prior approval to acquire 100 per cent (less directors1 qualifying shares of the voting shares of the successor by merger to First National Bank of East Lansing, East Lansing, Michigan.

Michigan National Corporation, Bloomfield Hills, Michigan, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to First National Bank of Wyoming, Wyoming, Michigan.

Michigan National Corporation, Bloomfield Hills, Michigan, for prior approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of Greenfield National Bank, Dearborn, Michigan, a proposed new bank.

Michigan National Corporation, Bloomfield Hills, Michigan, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Valley National Bank of Saginaw, Saginaw, Michigan.

U. N. Bancshares, Inc., Springfield, Missouri, for prior approval to acquire 90 per cent or more of the voting shares of Bank of Taney County, Forsyth, Missouri.

The First National Bancorporation, Denver, Colorado, for prior approval to acquire 80 per cent or more of the voting shares of Republic National Bank of Pueblo, Pueblo, Colorado.


H.2 1973 No. 13

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Received Continued 11 First Security National Corporation, Beaumont,

Texas, for prior approval to acquire 100 per cent of the voting shares of Colonial National Bank of Garland, Garland, Texas.

12 ^'Commercial Security Bancorporation, Ogden, Utah, 3-29-73 for prior approval to acquire 98 1/3 per cent (less directors' qualifying shares) of the voting shares of Commercial Security Bank of Logan, Logan, Utah, a proposed new bank.

12 First Security Corporation, Salt Lake City, Utah, for prior approval to acquire 97.5 per cent of the voting shares of First Security Bank of Murray, National Association, a proposed new bank.

Approved 10 Commerce Bancshares, Inc., Kansas City, Missouri,

for prior approval to acquire 80 per cent or more of the voting shares of The Citizens National Bank of Harrisonville, Harrisonville, Missouri.

10 First National Charter Corporation, Kansas City, Missouri, for prior approval to acquire 90 per cent or more of the voting shares of American Bank of De Soto, De Soto, Missouri.

10 **United Missouri Bancshares, Inc., Kansas City, 3-26-73 Missouri, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of United Missouri Bank of St. Louis, National Association, St. Louis, Missouri, a proposed new bank,

11 First Bancorp., Inc., Corsicana, Texas, for prior approval to acquire 76 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Citizens State Bank, Malakoff, Texas.

^processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


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H.2 1973 No. 13 - 6 -

Approved Continued 11 First City Bancorporation of Texas, Inc.,

Houston, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Antoine National Bank, Houston, Texas, a proposed new bank.

11 The Fort Worth National Corporation, Fort Worth, Texas, for prior approval to acquire 100 per cent of the voting shares of Exchange Bank & Trust Company, Dallas, Texas.

To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Hr-

Received 1 Worcester Bancorp, Inc., Worcester, Massachusetts,

for prior approval to acquire all of the shares of Empire Mortgage Corp. of Connecticut, Natick, Massachusetts; Empire Mortgage Corp. of Mass-achusetts, Natick, Massachusetts; Empire Finance Corp. of Rhode Island, Natick, Massachusetts; and Empire Mortgage Corp. of New Hampshire, Inc., Natick, Massachusetts.

2 **First Jersey National Corporation, Jersey City, 3-19-73 New Jersey, notification of intent to engage in de novo activities (making secured and unsecured loans and in the connection therewith the sale of credit life) through Guardian Loan Company, Inc., in Wallingford, Connecticut.



H.2 1973 No. 13 . ? _

Received Continued 2 **J. P. Morgan and Company, Incorporated, New York, 3-20-73

New York, 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; and leasing personal property and equipment with the ex-pectation of being compensated for not less than its full investment in the property to borrowers or lessees, as the case may be, located anywhere in the United States and foreign countries and acting as agent, broker or adviser in such leasing of personal property and equipment) through a subsidiary known as J. P. Morgan Interfunding Corporation, New York, New York.

3 First Valley Corporation, Bethlehem, Pennsylvania, for prior approval to acquire the shares of First Valley Life Insurance Company, Phoenix, Arizona.

5 The Wachovia Corporation, Winston-Salem, North Carolina, for permission to retain the shares of American Credit Corporation, Charlotte, North Carolina.

6 ^Atlantic Bancorporation, Jacksonville, Florida, 3-29-73 notification of intent to engage in de_ novo activities (acting as agent for banks and other corporations affiliated with Atlantic Bancorporation in acquiring and servicing retail sales contracts on mobile homes and other personal property; and to serve as a general insurance agency, confining its activities to the sale of credit life, and credit accident and health insurance, automobile, physical damage and liability insurance, and other types of insurance) in Jacksonville, Florida, through a sub-sidiary known as Atlantic Financial Cor-poration.



# H.2 1973 No. 13

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Received Continued **Citibanc Group, Inc., Alexander City, Alabama, 3-28-73

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, in- . eluding issuing letters of credit and accepting drafts, such as would be made for example, by a mortgage, finance, credit card, or factoring company) in Andalusia, Alabama, through a subsidiary to be known as The Citibanc Money Store, Inc.

**Citizens and Southern Holding Company, Atlanta, 3-28-73 Georgia, notification of intent to engage in a de novo activity (providing bookkeeping or data processing services for the internal opera-tions of the Citizens and Southern Holding Company and its subsidiaries, and storing and processing other banking, financial, or related economic data, such as performing payroll, accounts receivable or payable, or billing services) in Savannah, Georgia, through a subsidiary known as Citizens and Southern Data Processing, Inc.

**Citizens and Southern Holding Company, Atlanta* 3-27-73 Georgia, notification of intent to engage in de novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equip-ment, or acting as agent, broker or adviser in leasing of such property, where at the inception of the initial lease the expecta-tion is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessorTs full investment in the pro-

' perty) in Charlotte, North Carolina, through a subsidiary known as Citizens and Southern Factors, Inc.



H.2 1973 No. 13 - 9 -

Received Continued 6 **Citizens and Southern Holding Company, Atlanta, 3-29-7 3

Georgia, notification of intent to engage in de novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor's full investment in the property) in Miami, Florida, through a sub-sidiary known as Citizens and Southern Factors, Inc.

6 **First Amtenn Corporation, Nashville, Tennessee, 3-30-73 notification of intent to engage in a de novo activity (factoring (the purchase both directly and through agents employed for the purpose, without recourse to the factored client for any financial inability of the account debtor to pay) accounts receivable (which terms includes all accounts, notes, bills, acceptances, or other evidences of indebtedness) created by the sale and delivery of goods or the rendition of services in the ordinary course of business by retail and wholesale sellers, manufacturers and others providing goods and services, lending upon the security of accounts receivable, inventory and other classes or personal property of re-tail and wholesale sellers, manufacturers and others providing goods and services) in Nashville, Tennessee, through a subsidiary known as First Amtenn Financial Corporation.

6 Third National Corporation, Nashville, Tennessee, for prior approval to acquire 100 per cent of the voting shares of John W. Murphree Company, Nashville, Tennessee.



H.2 1973 No. 13 - 1 0 -

Received Continued 7 **The Indiana National Corporation, Indianapolis, 3-28-73

Indiana, notification of intent to engage in a de_ novo activity (acquiring, for its own account or for the account of others, direct loans in the form of consumer loans which would be made by companies subject to regulation under the Uniform Consumer Credit Code, business purpose loans and other extensions of credit in the form of conditional sale contracts and retail install-ment sale contracts, and loans or other extensions of credit to developers of mobile home parks or recreational land developments in the form of interim financing, either unsecured or secured by a real estate mortgage on the development, irrespective of whether the developer possesses a commitment for permanent financing at the time interim financing is made available) in Carmel, Indiana, through a subsidiary known as Tower Finance and Acceptance Corporation, Indianapolis, Indiana.

7 **SJV Corporation, Elkhart, Indiana, notification 3-30-73 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 (including issuing letters of credit and accepting drafts), such as would be made, for example, by a mortgage, finance, credit card, or factoring company; and servicing loans and other extensions of credit for any person) through a subsidiary known as SJV Financial Corp., Elkhart, Indiana.

8 **T G Bancshares Co., St. Louis, Missouri, 3-30-73 notification of intent to engage in a de novo activity (establishing and operating a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operations of the holding company and its subsidiaries, correspondent banks, and/or unrelated participating banks; store and process other banking,

financial, or related economic data; furnish facilities and operating personnel to the data processing programs;

^Processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


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11 1973 No. 13 - 1 1 -

Received Continued and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Central Missouri, an indirect subsidiary, by Financial Computing Corpora-tion of Missouri (a direct subsidiary of T G Bancshares Co.). Such services will be performed by Financial Computing Corpora-tion of Central Missouri, at Columbia, Missouri.

8 G Bancshares Co., St. Louis, Missouri, 3-30-73 notification of intent to engage in a de novo activity (establishing and operating a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operations of the holding company and its subsidiaries, correspondent banks, and/or unrelated participating banks; store and process other banking, financial or related economic data; furnish facilities and operating per-sonnel to the data processing programs; and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Hannibal, an indirect sub-sidiary, by Financial Computing Corporation of Missouri (a direct subsidiary of T G Bancshares Co.). Such services will be performed by Financial Computing Corporation of Hannibal, at Hannibal, Missouri.

8 **T G Bancshares Co., St. Louis, Missouri, 3-30-73 notification of intent to engage in a de novo activity (establishing and operating a computer service center which will: provide data processing and bookkeeping services for participating investor banks, the internal operations of the holding company and its subsidiaries, correspon-dent banks, and/or unrelated participating banks; store and process other banking, financial, or related economic data; furnish



# e H.2 1973 No. 13 - 1 2 -

Received Continued facilities and operating personnel to the data processing programs; and/or carry on permissible incidental activities to the extent excess computer time and facilities are available) through retention of shares of Financial Computing Corporation of Lebanon, an indirect subsidiary, by Financial Computing Corporation of Missouri (a direct subsidiary of T G Bancshares Co.). Such services will be performed by Financial Computing Corporation of Lebanon, at Lebanon, Missouri.

12 **BanCal Tri-State Corporation, San Francisco, 3-8-73 California, notification of intent to engage in de novo activities (in addition to developing and servicing mortgage investments (residential, industrial and commercial) for institutional investors: (1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts) such as would be made, for example, by a mortgage, finance, credit card, or factoring company; (2) acting as insurance agent or broker with respect to the following types of insurance: (i) any in-surance for BanCal Tri-State Corporation and its subsidiaries; (ii) any insurance that (a) is directly related to an extension of credit by a bank or a bank-related firm of the kind described in Regulation Y or (b) is directly related to the provision of other financial services by a bank or such a bank-related firm, or (c) is otherwise sold as a matter of convenience to the purchaser) through its subsidiary BanCal Mortgage Company, in San Francisco, San Bernardino, Santa Ana, and Los Angeles, California; Portland, Oregon; and Seattle, Washington.



H.2 1973 No. 13 - 13 -

Received Continued 12 **Southern California First National Corporation, 3-13-73

San Diego, California, notification of intent to engage in d_e novo activities (the business of solicting and acquiring mortgages on real property which it will place with lenders, including affiliates; as an adjunct to this business, Southern California First National Mortgage Corporation will act as agent in the issuance of insurance policies incidental to the pro-posed transactions) through a subsidiary known as Southern California First National Mortgage Corporation, in San Diego, Los Angeles, and Orange, California.

Approved 5 Bank of Virginia Company, Richmond, Virginia, for

prior approval to acquire all of the shares of General Finance Service Corporation, Huntingdon, Pennsylvania.

7 Merchants National Corporation, Indianapolis, Indiana, for prior approval, to acquire 100 per cent of the voting shares of the successor by merger to Circle Leasing Corp., Indianapolis, Indiana.

12 Patagonia Corporation, Tucson, Arizona, for prior approval, to acquire 100 per cent of the voting shares of Creditel Corporation of Nebraska No. 1, Omaha; Creditel Corporation of Nebraska No. 2, Omaha; and Creditel Corporation of Nebraska No. 4, Columbus; all located in Nebraska.

12 Zions Utah Bancorporation, Salt Lake City, Utah, for prior approval, to acquire 66-2/3 per cent or more of the voting shares of Financial Credit Corporation, Idaho Falls, Idaho.



H.2 1973 No. 13 - 1 4 -

Permitted 2 **Chase Manhattan Corporation, New York, New York,

to engage in a de novo activity (the general business of a mortgage company, and take such action in connection with control and manage-ment of such activities as may be deemed advisable) through a subsidiary to be known as Chase Manhattan Realty Capital Corporation, New York, New York.

3 **Provident National Corporation, Philadelphia, Pennsylvania, to engage in de novo activities (origination, negotation, acquisition, dis-position, and service for its own account or for the account of others, loans or other extensions of credit to finance on a secured or unsecured basis, transactions involving real or personnel property of any nature whatsoever) through a wholly-owned subsidiary, Provident National Realty Corporation, Philadelphia, Pennsylvania.

5 ^Fidelity American Bankshares, Inc., Lynchburg, Virginia, to engage in de novo activities (granting and servicing loans secured by mortgages (primarily second mortgages by in-dividuals); and acting as agent in the sale of credit,life, and credit accident and health insurance in connection with such loans) through a subsidiary to be known as Columbia Mortgage Company, in Birmingham, Alabama.

5 **First & Merchants Corporation, Richmond, Virginia, to engage in a de novo activity (making mortgage loans principally secured by second mortgages on residential and commercial real estate) through First Realty Mortgage Corporation, in Cleveland, Ohio, doing business in Ohio under the name First & Merchants Mortgage Corporation, and in Cherry Hill, New Jersey, doing business in New Jersey under the name of F & M Realty Mortgage Corporation.

3-24-73

3-27-73

3-31-73

3-30-73



H.2 1973 No. 13 - 1 5 -

Permitted Continued 5 **United Carolina Bancshares Corporation, 3-30-73

Whiteville, North Carolina, to engage in de novo activities (making or acquiring, for its own account and for the account of others, loans and other extensions of credit such as would be made by a finance company; providing loan services to dealers in personal.property who sell notes secured by liens on such personal property, and to financial institutions and others who may invest in such notes; arranging and handling full pay out financial leases on personal property, or acting as agent, broker or adviser in leasing property; and acting as. agent or broker in the sale of credit life insurance, credit accident and health insurance, and physical damage insurance, with such sales limited to sales directly related to credit and lease transactions which it handles) through a subsidiary to be known as United Carolina Financial Corporation, in Charlotte, North Carolina.

12 **Crocker National Corporation, San Francisco, 3-31-73 California, to engage in a de novo activity (acting as investment and financial adviser to the extent of (i) providing portfolio investment advice, including investment management services, to individuals, partnerships, corporations, trusts and

< other persons and legal entities; and (ii) furnishing investment research services including general economic information and advice, general statistical forcasting services and industry studies) through a subsidiary known as Crocker Investment Management Corporation, in San Francisco and Los Angeles, California. ,



n .z-1973 No. 13 - 1 6 -

Permitted Continued Correction:

2 **0n H.2 No. 12, the following was erroneously reported as permitted on March 24, 1973; Princeton American Bancorp, Princeton, New Jersey, to engage in a de novo activity (leasing per-sonal property and equipment, where at the in-ception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor's full investment in the property) through a subsidiary known as Princeton American Leasecorp, in Morristown, New Jersey; and Memphis, Tennessee. This will be permitted at a later date.

* * * * *

To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956

Permitted 7 **Sterling Precision Corporation, West Palm Beach, 3-26-73

Florida, to acquire Palmer King Motor Co., Inc., Lewiston, Maine, whose principal business is the distribution of automotive replacement parts.



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