h2_19800411.pdf

ANNOUNCEMENT BY

APPLICABLE RESERVE BANK

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2, 1980 No. 15)

Actions of the Board; Applications and Reports

Received During the Week Ending April 11, 1980

ACTIONS OF THE BOARD

Regulation E amendments to Implement the Electronic Fund Transfer Act; the Board's actions related to rules Issued by the Board In January and to proposals made then with respect to sections of the EFT Act that become effective May 10. (Docket No. R-0272)

New York Letter to the New York State Banking Department regard-ing the application of Jugobanka United Bank, Belgrade, Yugoslavia, to establish an agency at 500 Fifth Avenue, New York, New York. V

St. Louis Issuance of a subordinated capital note by Commerce Union Bank of Memphis, Memphis, Tennessee. 1/

Chicago FIRST FOREST PARK CORPORATION, Forest Park, Illinois, ex-tension of time to April 30, 1980 within which to become a bank holding company through the acquisition of 80 per cent or more of the voting shares of Forest Park National Bank, Forest Park, Illinois. 1/

Atlanta Central Bank of Montgomery, Montgomery, Alabama, an invest-ment in bank premises. 1/

Atlanta Exchange Bank and Trust Company of Florida, Tampa, Florida, an Investment in bank premises. 1/

Chicago Warren Bank, Warren, Michigan, an investment in bank premises. 1/

Philadelphia Independent Bank and Trust Company, West Trenton, New Jersey, extension of time within which to establish a branch office at Mercer County Airport, Ewing Township, New Jersey. 1/

2V Application processed on behalf of the Board of Governors under delegated authority.

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

H.2, 1980 No. 15 2 -

Chicago

San Francisco

ACTIONS OF THE BOARD-Continued

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

Approved Manufacturers Bank of Bay City, Bay City, Michigan.

Branch to be established on the north side of Gratoit Road approximately 200 feet east of Frost Drive, Saginaw Township, Saginaw County, Michigan. 1/ & 2/

Walker Bank and Trust Company, Salt Lake City, Utah. To establish a branch in the vicinity of 2440 South Highway 89 (91), Woods Cross, Davis County, Utah. 1/ & 2/

* * * * *

New York

Richmond

Kansas City

San Francisco

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

Approved Gateway State Bank, Staten Island, New York. V

The Suburban Bank, Richmond, Virginia. JL/

The Fidelity Bank and Trust, Aurora, Colorado. 1/ & 2j

Beaverton Banking Company, Beaverton, Oregon. V & 2/

* * * * *

Applications and Notifications for International Invest-ments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Bank and Sections 4(c)(9) and 4(c)(13) of the Bank of Holding Company Act of 1956, as amended

Sixty Day Notification Period Allowed to Expire New York Citibank, N.A., New York, New York: no objection to

establish an initial branch in Taipei, Taiwan of Applicant's subsidiary, Grindlay's Bank, Ltd., London, England.

\J Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1980 No. 15 — 3 —


Philadelphia Philadelphia International Investment Corporation, Philadelphia, Pennsylvania: no objection to increase its dollar investment in Banque Nagelmackers S.A., Liege, Belgium.

San Bank of America N.T. & S.A., San Francisco, California: Francisc no objection to establish an initial branch in Columbo,

Sri Lanka.

* * * * *

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

Approved Chicago Tsvaiter Financial Corporation, Chicago, Illinois, for

approval to acquire 89.84 per cent of the voting shares of Garfield Ridge Trust and Savings Bank, Chicago, Illinois. 2/

Minneapolis Ada Banc Shares, Inc., Ada, Minnesota, for approval to acquire 93.9 per cent of the voting shares of The Ada National Bank, Ada, Minnesota. 2/

Minneapolis First Noble Holding Co., LeRoy, Minnesota, for ap-proval to acquire 80.2 per cent of the voting shares of The First National Bank of Le Roy, Le Roy, Minnesota. 1/ & 2/

Minneapolis Valley Bancorporation, Inc., Le Sueur, Minnesota, for approval to acquire 82.2 per cent of the voting shares of Valley National Bank of Le Sueur, Le Sueur, Minnesota. 1 / & 2]

Kansas City Garden City Bancshares, Inc., Garden City, Missouri, for approval to acquire 80 per cent or more of the voting shares of Garden City Bank, Garden City, Missouri. 1/ & 2/

Kansas City Highland Bancshares, Inc., Topeka, Kansas, for approval to acquire 85.4 per cent of the voting shares of Highland Park Bank and Trust, Topeka, Kansas. 1/ & 2/

1/ Application processed on behalf of the Board of Governors under delegated authority.



H.2, 1980 No. 15 - 4 -


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

Approved Kansas City Mountain Financial Services, Inc.* Denver, Colorado,

for approval to acquire 100 per cent of the voting shares of Louisville State Bank, Louisville, Colorado, a proposed new bank. 1J & 2J

* * * * *


Approved Boston New England Merchants Company, Inc., Boston, Massachusetts,

for approval to merge with Massachusetts Bay Bancorp, Inc., Lawrence, Massachusetts. 2/

* * * * *

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

Returned New York Chemical New York Corporation, New York, New York, noti-

fication of intent to engage in d£ novo activities (acting as a trust company, including acting as trustee and executor, and offering investment advice to cus-tomers) at 249 Royal Palm Way, Palm Beach, Florida, through its subsidiary, Chemical Trust Company of Florida, N.A. (4/11/80) 3/

Chicago First Chicago Corporation, Chicago, Illinois, notifi-cation of intent to engage in de novo activities (to engage in the activities of a fiduciary, investment advisory, agency or custodian nature) at 5500 Glades, Boca Raton, Florida, through its subsidiary, First Chicago Trust Company (4/9/80) 3/

V Application processed on behalf of the Board of Governors under delegated authority.


3/ 4(c)(8) or 4(c)(12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1980 No. 15

Richmond

Atlanta

New York

New York

- 5 -


Approved Northwestern Financial Corporation, North Wilkesboro,

North Carolina, for approval to retain the shares of M & J Financial Corporation, Shelby, North Carolina.

Delayed Barnett Banks of Florida, Inc., Jacksonville, Florida, notification of intent to engage in d_e novo activities (in offering check verification service, including authorizing subscribing merchants to accept certain personal purchase money checks and obligating Verifi-cations, Inc. to purchase properly verified checks which are subsequently dishonored) a 4160 Woodcock Drive, Suite 100, Jacksonville, Florida, to be offered throughout North Carolina and South Carolina through a subsidiary, Verifications, Inc. (4/11/80) 3/

Permitted Citicorp, New York, New York, notification of intent to engage in <ie novo activities (making or acquiring, loans and other extensions of credit, secured or un-secured, for consumer and other purposes; the exten-sion of loans to dealers for the financing of inven-tory (floor planning) and working capital purposes; purchasing and servicing for its own account sales finance contracts; acting as agent for the sale of property and casualty insurance and for the sale of credit life and credit casualty accident and health insurance directly related to extensions of credit) at 1895 Phoenix Boulevard, Atlanta, Georgia, through its subsidiary, Citicorp Person-to-Person Financial Center, Inc. (4/11/80) 3/

Citicorp, New York, New York, notification of intent to engage in de novo activities (making or acquiring, loans and other extensions of credit, secured or unsecured, for consumer and other purposes; the ex-tension of loans to dealers for the financing of inventory (floor planning) and working capital pur-poses; purchasing for its own account and servicing sales finance contracts; and acting as agent for the sale of credit life and credit casualty accident and health insurance directly related to extensions of



H.2, 1980 No. 15 6 -

ACTIONS OF THE BOARD-Contlnued

credit; in addition, the activities of this office will be expanded to include acting as agent for the sale of credit related property and casualty insurance only in the Georgia service area) at Barnett Regency Tower, 9550 Regency Square Boulevard, Jacksonville, Florida, through its subsidiary, Citicorp Person-to-Person Financial Center of Florida, Inc. (4/11/80) 3/

Richmond NCNB Corporation, Charlotte, North Carolina, notifica-tion of intent to engage in de novo activities (orig-inating permanent commercial motgage loans for sale to investors and originating commercial construction loans) at 10300 Sunset Drive, Suite 180, Miami, Florida, through its subsidiary, NCNB Mortgage Corporation (3/29/80) 3/

Chicago Merchants National Corporation, Indianapolis, Indiana, notification of intent to engage in cie novo activities (to engage in personal property leasing of capital goods and equipment or acting as agent, broker or adviser in leasing such personal property) at 1001 Linn Station Road, Suite #535, Louisville, Kentucky, through a subsidiary, MAD LEASING CORP. (4/10/80) 3/

Chicago National Detroit Corporation, Detroit, Michigan, noti-fication of intent to engage in jde novo activities (to engage in commercial financing; the activities will include the making of loans to businesses secured by the borrower's accounts receivable, inventory, machinery and equipment and/or real estate used in the business) at 8170 Corporate Park Drive, Cincinnati, Ohio, through its wholly-owned subsidiary, Instaloan Financial Services, Inc. (4/10/80) 3/

Crocker National Corporation, San Francisco, California, notification of intent to engage in de novo activities (to engage in lending and loan servicing activities) at 2 North La Salle Street, Suite 1900, Chicago, Illinois and 90 East 91st Street, Indianapolis, Indiana, through its direct subsidiary, Crocker Mortgage Company, Inc. (4/7/80) 3/

San Francisco



H.2, 1980 No. 15

ACTIONS OF THE BOARD-Continned

San Security Pacific Corporation, Los Angeles, California, no-Francisco tification of intent to relocate de novo activities (to

engage in lending and credit related insurance activities) from 4823 B Salem Avenue, Dayton, Ohio to 910 Taywood Road, Englewood, Ohio, through its indirect subsidiaries, American Finance Corporation of Columbus and American Finance Corporation of Ohio (4/11/80) 3/

San U.S. Bancorp, Portland, Oregon, notification of intent Francisco to engage in de novo activities (to engage in lending,

industrial loan, loan servicing, and credit related insurance activities) at 5151 South Federal Boulevard, Littleton, Colorado, through a subsidiary, Citizens Industrial Bank (4/10/80) 3/

San Wells Fargo & Company, San Francisco, California, notifi-Francisco cation of intent to engage in de novo activities (to

engage in lending, loan servicing, financial adviser, and leasing activities) at 18004 Skypark Boulevard, Irvine, California and 600-108th Northeast, Bellevue, Washington, through its subsidiary, Wells Fargo Mort-gage Company (4/10/80) 3/



H.2, 1980 No. 15 - 8 -

APPLICATIONS RECEIVED

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

New York Fidelity Union Trust Company, Newark, New Jersey. To establish a communications terminal branch office at Fidelity Union Bancorporation, Operations Headquarters, 100 Fidelity Plaza, North Brunswick, New Jersey. 2/

Atlanta Sunset Commercial Bank, Miami, Florida. Branch to be established in the Brickell Centre Office Building, 799 Brickell Plaza, Miami, Florida. 2/

* * * * *

To Organize, or Invest in, a Corporation Doing Foreign Banking and other Foreign Financing Pursuant to Section 25 or 25(a) of the Federal Reserve Act

New York Republic National Bank of New York, New York, New York: requests consent to establish an Edge corporation to be known as Republic International Bank of New York, New York, New York.

* * * * *

To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act

Atlanta Sun First National Bank of Orlando, Orlando, Florida: requests permission to establish a branch in George Town, Cayman Islands.

* * * *

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

Atlanta Bay Bancorporation, Inc., Riverview, Florida, for ap-proval to acquire 89.51 per cent of the voting shares of Bank of Riverview, Riverview, Florida. 2J

2J Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1980 No. 15 - 9 -

APPLICATIONS RECEIVED-Continued

Atlanta

Atlanta

Chicago

Chicago

Coastal Barikshares, Inc., St. Simons Island, Georgia, for approval to acquire 100 per cent of the voting shares of The Coastal Bank of Georgia, St. Simons Island, Georgia. 2j

Mountain Financial Company, Maryville, Tennessee, for approval to acquire 100 per cent of the voting shares of Bank of Maryville, Maryville, Tennessee. 27

Glenwood Bancorporation, Glenwood, Iowa, for approval to acquire 69.6 per cent or more of the voting shares of Glenwood State Bank, Glenwood, Iowa. 2/

Illinois State Bancorp, Inc., Chicago, Illinois, for approval to acquire 93.46 per cent of the voting shares of Illinois State Bank of Chicago, Chicago, Illinois. 2/

Chicago

Chicago

Lanark Bancshares, Inc., Lanark, Illinois, for approval to acquire 80 per cent or more of the voting shares of Exchange State Bank, Lanark, Illinois. 2/

Starke County Bancorp, Inc., Knox, Indiana, for ap-proval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Farmers Bank and Trust Company, Knox, Indiana. 2/

St. Louis Edwardsville Management Company, Omaha, Nebraska, for approval to acquire 87.11 per cent or more of the voting shares of Edwardsville National Bank and Trust Company, Edwardsville, Illinois. 2/

Minneapolis Henning Bancshares, Inc., Henning, Minnesota, for ap-proval to acquire 80.16 per cent of the voting shares of The First National Bank of Henning, Henning, Minnesota. 2/

Minneapolis ISLAND CITY BANCORP, INC., Mlnocqua, Wisconsin, for ap-proval to acquire 80 per cent or more of the voting shares of Security State Bank, Mlnocqua, Wisconsin. 2/

2? Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1980 No. 15 - 10 -


Minneapolis Signal Hills Associates, Inc., West St. Paul, Minnesota, for approval to acquire 100 per cent of the voting shares of Signal Hills State Bank, West St. Paul, Minnesota. 2]

Minneapolis Windom State Investment Company, Windom, Minnesota, for approval to acquire 87.9 per cent or more of the voting shares of The Windom State Bank, Windom, Minnesota. 2/

Kansas City Stapleton Bancorporation, Ltd., Denver, Colorado, for approval to acquire 99 per cent of the voting shares of Dominion Bank of Denver, Denver, Colorado. 2/

* * * * *


Boston

Philadelphia

Chicago

Chicago

First Bancorp of N.H., Inc., Manchester, New Hampshire, for approval to acquire 80 per cent and up to 100 per cent of the voting shares of Rockingham County Trust Co., Salem, New Hampshire. 2/

Heritage Bancorporation, Cherry Hill, New Jersey, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of The City National Bank and Trust Company of Salem, Salem, New Jersey. If

First American Bank Corporation, Kalamazoo, Michigan, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of First National Bank of South Central Michigan, Quincy, Michigan. 2/.

First American Bank Corporation, Kalamazoo, Michigan, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of The Union National Bank and Trust Company of Marquette, Marquette, Michigan. 2/



H.2, 1980 No. 15 - 1 1 -


Chicago

Dallas

Philadelphia

Cleveland

First Financial Group, Inc., Janesville, Wisconsin, for approval to acquire 93.9 per cent or more of the voting shares of Tobacco Exchange Bank, Edgerton, Wisconsin. 2/

National Bancshares Corporation of Texas, San Antonio, Texas, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Harlandale Bank, San Antonio, Texas. 2/

* * * * *

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

New Jersey National Corporation, Trenton, New Jersey, notification of intent to engage In de novo activities (making, acquiring, selling and servicing for its own account or the account of others, loans and other ex-tensions of credit principally secured by mortgages; these activities are to be conducted for existing and prospective new clients throughout the States of Pennsylvania and New Jersey (lending) and nationwide (servicing)) at 2 Park Lane, Feasterville, Penn-sylvania, through its subsidiary, Underwood Mortgage and Title Company (4/8/80) 3/

Banc One Corporation, Columbus, Ohio, notification of intent to engage in de novo activities (making, acquir-ing, and selling for its own account and for the ac-count of others, loans and extensions of credit in-cluding loans to finance agricultural production, commerical and industrial loans, and loans to individ-uals for household, family and other personal expendi-tures; and servicing such loans and other extensions of credit for itself and for nonaffiliated banks and for institutional investors) at 100 East Broad Street, Columbus, Ohio and 8060 Montgomery Road, Cincinnati, Ohio, through a subsidiary, Banc One Financial Corpora-tion (3/26/80) 3/

57 4(c)(8) or 4(c)(12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1980 No. 15 - 12 -

APPLICATIONS RECEIVED-ContInued

Richmond The Citizens and Southern Corporation, Columbia, South Carolina, notification of intent to engage in de novo activities (leasing personal property or acting as agent, broker or adviser in leasing such property) at 5900 Fain Drive, Charleston, South Carolina and 919 Bluff Road, Columbia, South Carolina, through its subsidiary, C & S Financial Services, Inc. (4/10/80) 3/

Chicago

Chicago

Chicago

Chicago

Minneapolis

Minneapolis

Kanawha Investment Co*, Kanawha, Iowa, for approval to engage in the sale of general insurance through Kanawha Insurance Agency, Kanawha, Iowa.

National Detroit Corporation, Detroit, Michigan, notifi-cation of intent to engage in de novo activities (to engage in mortgage banking activities) at 18524 Grand River Avenue, Detroit, Michigan, through its wholly-owned subsidiary, NBD Mortgage Company (3/28/80) 3/

National Detroit Corporation, Detroit, Michigan, notifi-cation of intent to engage in dhe novo activities (to engage in mortgage banking activities) at 6400 South Westnedge Avenue, Portage, Michigan, through its wholly-owned subsidiary, NBD Mortgage Company (3/28/80) 3/

St. Joseph Bank and Trust Company, South Bend, Indiana, South Bend, Indiana, notification of intent to engage in de novo activities (originating, acquiring, selling and servicing of residential, commercial and industrial loans) at 10044 East Washington Street, Indianapolis, Indiana, thrrough its indirect subsidiary, St. Joseph Mortgage Co., Inc. (4/9/80) 3/

North Branch Investment, Inc., North Branch, Minnesota, for approval to continue to engage in the sale of general insurance which include automobile, homeowners, famowners, life, disability, hospitalization, surety bonds, general liability, workman's compensation, crop hail, fire, and windstorn.

Windom State Investment Company, Windom, Minnesota, for approval to acquire 90.1 per cent of the presently outstanding shares of Windom State Credit Company, Windom, Minnesota, an operating agricultural credit company and an insurance agency. 2/

3/ 4(c)(8) or 4(c)(12) notificaton processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1980 No. 15 - 1 3 -

APPLICATIONS RECEIVED-Contlnued

Kansas City Tola Bancshares, Inc., Iola, Kansas, for approval to acquire Gilpin Insurance Agency, Iola, Kansas, a partnership which is a credit life insurance agency engaged in the sale of credit life insurance to certain borrowers of the Iola State Bank, Iola, Kansas.

Dallas American State Financial Corporation, Lubbock, Texas, notification of intent to engage in d_e novo activities (making or acquiring, loans and other extensions of credit) from an existing office in Lubbock, Texas (4/9/80) 3/

BankAmerica Corporation, San Francisco, California, no-tification of intent to engage in _de novo activities (to engage in lending, loan servicing and credit related insurance activities) at 1620 South Fifth Street, South Gate Plaza, Leesville, Louisiana, through a subsidiary, FinanceAmerica Corporation (Louisiana) (4/7/80) 3/

* * * * *

REPORTS RECEIVED

Registration Statement Filed Pursuant to Section 12(g) of the Securities Exchange Act

Tri-County Banking Co., Junction City, Oregon.

* * * * *

Ownership Report Filed Pursuant to Section 13 of the Securities Exchange Act

Farmers & Merchants Bank of Central California, Lodi, California* (Amendment #1 - Filed by Ole R. Mettier and Carl A. Wishek)

The Independent Bank and Trust Company, West Trenton, New Jersey. (Amendment if 1 - Filed by Robert David Carr)

San Francisco



H.2, 1980 No. 15 — 14 —

APPLICATIONS RECEIVEP-Continued

PETITIONS FOR RULEMAKING

None.


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