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e I i

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2 , 1981 No. 3)

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 Reports

Received During the Week Ending January 17, 1981 APPLICABLE

RESERVE BANK ACTIONS OF THE BOARD

P o l i c y S ta tement , frequency of examinations of S t a t e member banks, i n s p e c t i o n of bank holding companies and other bank r e l a t e d f u n c t i o n s .

Regu la t ion Q, t e c h n i c a l amendments that w i l l conform Regula t ion Q t o f i n a l ru l e s i s sued by the Depos i tory I n s t i t u t i o n s D e r e g u l a t i o n Act .

Regula t ion T, n o t i c e of proposal to d e l e t e p r o v i s i o n permi t t ing use of f o r e i g n currency in a margin account . (Docket No. R-0250)

Kansas Ci ty Colorado Bank and Trust Company of La Junta , La Junta , Colorado, investment in bank premises . 1/

S t a f f appointments in the D i v i s i o n of Research and S t a t i s t i c s are as f o l l o w s : Mr. Jared J . E n z l e r , Sen ior Deputy A s s o c i a t e D i r e c t o r Mr. Donald L. Kohn, Deputy A s s o c i a t e D i r e c t o r Mr. David E. L indsey , A s s i s t a n t D i r e c t o r Mr. Joe M. C l e a v e r , A s s i s t a n t D i r e c t o r

1/ A p p l i c a t i o n processed on behal f of the Board of Governors under delegated a u t h o r i t y .

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

H.2, 1981 No. 3 2 -

ACTIONS OF THE BOARD-Continued

To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of the Federal Reserve Act

Withdrawn Cleveland The Minerva Banking Company, Minerva, Ohio. Branch t o

be e s t a b l i s h e d at 111 East Porter S t r e e t , Malvern, C a r r o l l County, Ohio.

Approved Cleveland The L i b e r t y S t a t e Bank, L i b e r t y C e n t e r , Ohio. Branch t o

be e s t a b l i s h e d at 1424 North Scot t S t r e e t , Napoleon, Henry County, Ohio. _1/ & 2 /

Chicago Davenport Bank and Trust Company, Davenport, Iowa. To e s t a b l i s h an o f f s i t e e l e c t r o n i c f a c i l i t y at Eagle D i s -count Supermarket S tore #231, 2357 West Locust , Davenport , Iowa. 1/ & 2/

* * * * *

To Become a Member of t h e Federal Reserve System Pursuant t o S e c t i o n 9 of t h e Federal Reserve Act

Approved Chicago New P e o p l e s S t a t e Bank of L e s l i e , L e s l i e , Michigan. \J

& 2/

* * * * *

I s sued Intent Not t o Disapprove Change of Control Pursuant t o Change i n Bank Control Act of 1978

Not Disapproved D a l l a s CB&T Bancshares , I n c . , C l e v e l a n d , Texas . J /

1/ A p p l i c a t i o n processed on behal f of the Board of Governors under de legated a u t h o r i t y .

2 / A p p l i c a t i o n subjec t to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve 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 .

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

H.2 , 1981 No. 3 - 3 -


To E s t a b l i s h a U.S. Branch of an Edge Act Corporation Pursuant t o S e c t i o n 2 5 ( a ) of the Federal Reserve Act

Approved New York C i t i b a n k , N . A . , New York, New York: grants consent of

i t s i n t e n t to e s t a b l i s h and operate a branch of i t s wholly-owned s u b s i d i a r y , Ci t ibank Interamerica , Miami, F l o r i d a , D a l l a s , Texas .

* * * * *

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 for I n t e r n a t i o n a l I n v e s t -ments and Other Actions Pursuant to S e c t i o n s 25 and 25(a ) of the Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of the Bank Holding Company Act of 1956 as amended

Approved San Bamerical I n t e r n a t i o n a l F i n a n c i a l Corporat ion , San F r a n c i s c o , F r a n c i s c o C a l i f o r n i a : grants consent to amend A r t i c l e F i r s t of i t s

A r t i c l e s of A s s o c i a t i o n to change i t s name to BankAmerica I n t e r n a t i o n a l F inanc ia l Corporat ion.

S i x t y Day N o t i f i c a t i o n Period Allowed t o Expire New York C i t i c o r p , New York, New York: no o b j e c t i o n to make an

a d d i t i o n a l investment i n C i t i c o r p Overseas Finance Cor-p o r a t i o n Limi ted , T o r t o l a , B r i t i s h V irg in I s l a n d s .

* * * * *

To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956

Approved Richmond F&M Holding Company, Summersvi l le , West V i r g i n i a , for ap-

proval t o acquire at l e a s t 80 percent of the v o t i n g shares of Farmers and Merchants Bank of Summersvi l l e , Summersvi l le , West V i r g i n i a . JL/ & 2/

T 7 A p p l i c a t i o n processed on behal f of the Board of Governors under de legated a u t h o r i t y .

7 j A p p l i c a t i o n subjec t to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment per iod .

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

H.2, 1981 No. 3 - 4 -


Chicago ANCHOR BANCORPORATION INC., Farmer C i t y , I l l i n o i s , f o r approval to acquire 80 percent of t h e v o t i n g shares of Anchor S t a t e Bank, Anchor, I l l i n o i s . JJ & 2/

Chicago B u f f a l o Bancorporat ion , I n c . , B u f f a l o Grove, I l l i n o i s , for approval to acquire 51 percent or more of the v o t i n g shares of B u f f a l o Grove Nat iona l Bank, B u f f a l o Grove, I l l i n o i s . IJ & 2j

Chicago Els ton Corporat ion , Crawfordsvi l l e , Indiana, for approval to acquire 100 percent ( l e s s 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 shares of the succes sor by merger to Els ton Bank & Trust Company, C r a w f o r d s v i l l e , Ind iana . 1/ & 2/

Chicago Everly Bancorporat ion , E v e r l y , Iowa, f o r approval to acquire 80 percent or more of t h e v o t i n g shares of Everly S t a t e Bank, E v e r l y , Iowa. _!/ & _2/

Chicago FIRST NATIONAL BANCORP. , New C a s t l e , Ind iana , for approval to acquire 100 percent of the v o t i n g shares of the suc-cessor by merger to F i r s t Nat iona l Bank in New C a s t l e , New C a s t l e , I n d i a n a . 1/ & 2/

Chicago Hardin County Bancorporat i o n , E ldora , Iowa, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of Hardin County Sav ings Bank of E ldora , E ldora , Iowa. 1/ & 2/

S t . Louis F i r s t Uni ted , I n c . , Central C i t y , Kentucky, f o r approval to acquire at l e a s t 80 and up to 100 percent of the v o t i n g shares of The F i r s t Nat ional Bank of Central C i t y , Central C i t y , Kentucky. _1/ & 2j

S t . Louis Pike Bancshares , I n c . , Pe tersburg , I n d i a n a , f o r approval to acquire a t l e a s t 80 percent of t h e v o t i n g shares of The F i r s t Nat ional Bank of Pe ter sburg , P e t e r s b u r g , Indiana. 1/ & 2 /

Minneapol i s Cameron Investment Company, I n c . , Park F a l l s , Wiscons in , for approval to acquire 84 percent of t h e v o t i n g shares of Bank of Cameron, Cameron, Wisconsin . 2/

1/ A p p l i c a t i o n processed on behal f of the Board of Governors under de legated aut h o r i t y .

2 / A p p l i c a t i o n subject to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment per iod .


H.2, 1981 No. 3 5 -


Minneapol i s Echo Bancshares , I n c . , Echo, Minnesota, f o r approval to acqu ire 80 percent of t h e v o t i n g shares of C i t i z e n s S t a t e Bank of Echo, Echo, Minnesota. \f & 2/

Minneapol i s FINANCIAL BANCSHARES COMPANY, Becker, Minnesota , for ap-proval t o acquire at l e a s t 9 3 . 3 3 percent of the v o t i n g s h a r e s of Sant iago S t a t e Bank, Sant iago , Minnesota. 1/ & 2/

Minneapol i s

Kansas Ci ty

Dal l a s

D a l l a s

D a l l a s

San Franci s c o

S e c u r i t y S t a t e Holding Company, Lindstrcm, Minnesota, f o r approval to acquire 96 percent 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 Lindstrom, Lindstrom, Minnesota. 1/ & 2/

The Highland Ban-Corp., I n c . , C leve land , Oklahoma, f o r ap-proval to acquire a t l e a s t 80 percent of t h e v o t i n g shares of The Cleveland Bank, Cleve land , Oklahoma. \J & 2 /

F i r s t C i t i z e n s Bancshares , I n c . , Waxahachie, Texas , f o r approval to acquire 80 percent 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 Nat ional Bank in Waxahachie, Waxahachie, Texas . JL/ & If

J e r s e y V i l l a g e Bancshares , I n c . , Houston, Texas , f o r ap-proval to acquire 100 percent ( 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 the v o t i n g shares of Jersey V i l l a g e Bank, J e r s e y V i l l a g e (P .O. Houston) , Texas . JL/ & 2j

Metro BancShares, I n c . , Alvarado, Texas , f o r approval to acquire a t l e a s t 80 percent of t h e v o t i n g shares of Alvarado S t a t e Bank, Alvarado, Texas . If & 2]

Orient Bancorporat ion , San F r a n c i s c o , C a l i f o r n i a , for ap-proval to acquire 100 percent of the v o t i n g shares of Bank of t h e O r i e n t , San F r a n c i s c o , C a l i f o r n i a . 1/ & 2 /

1/ A p p l i c a t i o n processed on beha l f of the Board of Governors under de legated a u t h o r i t y .

I f A p p l i c a t i o n subjec t to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment per iod .


H.2, 1981 No. 3 - 6 -


To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956

Approved Boston Connect icut River Bancorp, I n c . , C h a r l e s t o n , New Hampshire,

for approval to acquire at l e a s t 6 5 . 7 9 percent of the v o t i n g shares of Peoples Nat iona l Bank of L i t t l e t o n , L i t t l e t o n , New Hampshire. If & 2/

Chicago Independent Bank Corporat ion , I o n i a , Michigan, for ap-proval to acquire 100 percent of the v o t i n g shares of The P e o p l e s Bank of L e s l i e , L e s l i e , Michigan. 1/ & 27

Chicago Michigan Nat ional Corporat ion, B loomfie ld H i l l s , Michigan, for approval to acquire 100 percent of t h e v o t i n g shares of Michigan National Bank - Grosse P o i n t e s , Grosse P o i n t e s , Michigan, a proposed new bank. 1/ & 2/

S t . Louis Mercant i l e Bancorporat ion I n c . , S t . L o u i s , Missour i , f o r approval to acquire 100 percent of the v o t i n g shares of Peoples Bank of Kansas C i t y , Kansas C i t y , Mis sour i . 1/ & 2 /

* * * * *

To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956

Approved Minneapol i s FINANCIAL BANCSHARES COMPANY, Becker, Minnesota , for ap-

proval to cont inue to engage in the s a l e of genera l insurance in a community with a populat ion not exceed-ing 5 , 0 0 0 . 1/

Withdrawn New York Horizon Bancorp, Morristown, 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 in de novo a c t i v i t i e s ( s e r v i c i n g loans and other e x t e n s i o n s of c r e d i t for any person) a t 334 Madison Avenue, Morristown, New J e r s e y , through i t s sub-s i d i a r y , Horizon Credi tcorp ( 1 / 1 3 / 8 1 ) 3 /

\J A p p l i c a t i o n processed on behal f of the Board of Governors under de legated a u t h o r i t y .

2 / A p p l i c a t i o n subject to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l eng th of the comment p e r i o d .

2 / 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on behal f of the Board of Governors under de legated a u t h o r i t y .

I


H.2, 1981 No. 3 - 7 -


Returned S t . Louis F i r s t Arkansas Bankstock Corporat ion , L i t t l e Rock, Arkansas,

n o t i f i c a t i o n of in ten t to engage in de novo a c t i v i t i e s ( o p e r a t i n g a f inance company, i n c l u d i n g the e x t e n s i o n of d i r e c t loans for consumer and other purposes secured p r i m a r i l y by second mortgages on r e a l e s t a t e ; and a c t i n g as agent in the s a l e of c r e d i t l i f e , a c c i d e n t and h e a l t h , and p h y s i c a l damage 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 6660 R i v e r s i d e D r i v e , M e t a i r i e , L o u i s i a n a , t h rough a s u b s i d i a r y , R i v e r s i d e C r e d i t C o r p o r a -t i o n ; t h e a c t i v i t i e s would be conducted i n i t i a l l y from an o f f i c e in L a f a y e t t e , s erv ing South C e n t r a l L o u i s i a n a , and w i t h i n 12 months a n o t h e r o f f i c e l o c a t e d i n La P l a c e , s e r v i n g S o u t h e a s t e r n L o u i s i a n a , and s p e c i f i c a l l y , t he s u r r o u n d i n g p a r i s h e s in which the o f f i c e s a r e l o c a t e d ( 1 / 7 / 8 1 ) JV

Permitted Richmond Maryland Nat iona l Corporat ion, Bal t imore , Maryland , 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 i n c l u d e commercial lending operat ions i n c l u d i n g , but not l i m i t e d t o , secured and unsecured commercial loans and other e x t e n s i o n s of c r e d i t to commercial e n t e r p r i s e s and a c t i n g as a d v i s e r or broker in canmercial lending t r a n s -a c t i o n s ) a t 300 East J op pa Road, Tow son and 10 Light S t r e e t , Ba l t imore , Maryland, through i t s s u b s i d i a r y , Maryland N a t i o n a l Leasing Corporat ion ( 1 / 1 7 / 8 1 ) 37

Richmond Maryland Nat iona l Corporat ion, Bal t imore , Maryland, 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 ( i n -c l u d i n g , but not l i m i t e d t o , the l e a s i n g of v a r i o u s types of equipment, machinery, v e h i c l e s , t r a n s p o r t a t i o n equipment, and data p r o c e s s i n g equipment and i n c l u d i n g c o n d i t i o n a l s a l e s c o n t r a c t s and c h a t t e l mortgages) where the l e a s e i s the f u n c t i o n a l equ iva l en t of an e x t e n s i o n of c r e d i t ; o r i g i n a t i n g and s e r v i c i n g personal property l e a s e s as p r i n c i p a l or agent; buying , s e l l i n g and o t h e r -wise d e a l i n g i n personal property l ease c o n t r a c t s as p r i n c i p a l or agent; a c t i n g as a d v i s e r in personal prop-e r t y l e a s i n g t r a n s a c t i o n s ; engaging in the s a l e , as agent or broker , of insurance s i m i l a r in form and i n t e n t to c r e d i t l i f e and/or mortgage redemption i n s u r a n c e ; com-merc ia l l ending operat ions i n c l u d i n g , but not l i m i t e d

37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on beha 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 .

I


H.2 , 1981 No. 3 - 8 -


t o , secured and unsecured commercial loans and other e x t e n s i o n s of c r e d i t to commercial e n t e r p r i s e s ; and a c t -ing as adv i sor or broker in commercial lending t r a n s -a c t i o n s ) a t S u i t e 295, T o l l h i l l O f f i c e Park, 5310 Harvest H i l l s Road, D a l l a s , Texas , through i t s s u b s i d i a r y , Maryland Nat iona l Leasing Corporat ion ( 1 / 1 7 / 8 1 ) 3/

Chicago National D e t r o i t Corporat ion , D e t r o i t , Michigan, 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 mortgage banking a c t i v i t i e s inc lud ing the making and acquir ing of mortgage loans for i t s account and for the account of o t h e r s ) at 2945 Midland Road, Midland, Mich igan , t h rough i t s wholly-owned s u b s i d i a r y , NBD Mortgage Company (1/12/81) 2 /

San U.S. Bancorp, P o r t l a n d , Oregon , n o t i f i c a t i o n of i n t e n t to F r a n c i s c o engage in de novo a c t i v i t i e s ( t o engage in t h e making ,

acquir ing and s e r v i c i n g of loans and other e x t e n s i o n s of c r e d i t e i t h e r secured or unsecured for i t s own account or f o r the account of o t h e r s , i n c l u d i n g the making of consumer i n s t a l l m e n t l o a n s , purchasing consumer i n s t a l l -ment and real e s t a t e s a l e s f inance c o n t r a c t s and ev idences of debt and making consumer home equ i ty loans secured by real e s t a t e , making i n d u s t r i a l loans; and a c t i n g as i n s u r -ance agent with regard to c r e d i t l i f e and d i s a b i l i t y i n s u r -ance s o l e l y in connec t ion w i t h e x t e n s i o n s of c r e d i t by Bancorp F i n a n c i a l ) in the London Square Shopping Center on the n o r t h e a s t corner of the P e o r i a and I l i f f I n t e r -s e c t i o n in Aurora, Colorado, through i t s s u b s i d i a r y , U.S. Bancorp F i n a n c i a l , I n c . ( 1 / 1 5 / 8 1 ) 3/

Wel l s Fargo & 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 in ten t to engage in de novo a c t i v i t i e s ( ( l ) making or a c q u i r i n g r e a l e s t a t e r e l a t e d loans and other e x t e n s i o n s of c r e d i t , f o r i t s own account or f o r the account of o thers ; (2) s e r v i c i n g the loans and e x t e n -s ions of c r e d i t de scr ibed i n (1 ) above; (3 ) a c t i n g as an investment adv i ser to Wel l s Fargo Mortgage and Equity Trust (a real e s t a t e investment t r u s t ) , o ther a f f i l i a t e s of Wel l s Fargo & Company and other i n v e s t o r s with r e s p e c t to real e s t a t e investment p o r t f o l i o s ; (4 ) providing f u l l payout l e a s i n g of r e a l property or a c t i n g as agent , broker or adv i ser in arranging such l e a s e s to the ex tent permitted by S e c t i o n 2 2 5 . 4 ( a ) ( 6 ) ( b ) of Regula t ion Y of the Federal Reserve Board; and ( 5 ) providing bookkeeping or data

San F r a n c i sc o

37 4 ( c ) (8) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on behal f of t h e Board of Governors under de l ega ted a u t h o r i t y .


H.2 , 1981 No. 3 - 9 -


p r o c e s s i n g s e r v i c e s r e l a t e d to real e s t a t e inves tments of Wel l s Fargo & Company and i t s a f f i l i a t e s ) i n A t l a n t a , Georgia , through i t s s u b s i d i a r y , Wells Fargo Realty Advi sors ( 1 / 6 / 8 1 ) 3 /

San Wells Fargo & Company, San F r a n c i s c o , C a l i f o r n i a , not i f i -F r a n c i s c o ca t ion of i n t e n t to engage in de novo a c t i v i t i e s (mak-

ing or a c q u i r i n g , f o r i t s own account or f o r the ac -count of o t h e r s , loans and other e x t e n s i o n s of c r e d i t ; l e a s i n g personal or real property or a c t i n g as agent , broker , or adviser in l e a s i n g such property where the l e a s e i s to serve as the f u n c t i o n a l e q u i v a l e n t of an e x t e n s i o n of c r e d i t to the l e s s e e of the property and where at the i n c e p t i o n of the i n i t i a l l e a s e the e f f e c t of the t r a n s a c t i o n (and, with r e s p e c t to governmental e n t i t i e s o n l y , reasonably a n t i c i p a t e d f u t u r e t r a n s a c t i o n s ) w i l l y i e l d a re turn t h a t w i l l compensate the l e s s o r for not l e s s than the l e s s o r ' s f u l l investment in the prop-e r t y plus the e s t imated t o t a l cos t of f i n a n c i n g t h e property over the term of the l e a s e , from r e n t a l s , e s t i m a t e d tax b e n e f i t s ( inves tment tax c r e d i t , net economic gain from t a x d e f e r r a l from a c c e l e r a t e d depre-c i a t i o n , and other tax b e n e f i t s with a s u b s t a n t i a l l y s i m i l a r e f f e c t ) , and the es t imated r e s i d u a l value of the property at the e x p i r a t i o n of the i n i t i a l term of the l e a s e which in no case s h a l l exceed 20 percent of the a c q u i s i t i o n c o s t of the l e s s o r ) i n Bakers f i e l d , C a l i -f o r n i a and in C i n c i n n a t i , Ohio, through i t s s u b s i d i a r i e s , Wel l s Fargo Leasing Corporat ion, Wel ls Fargo Transport Leas ing Corporat ion, Wells Fargo Equipment Leasing Cor-porat ion and Wel l s Fargo Equipment Cred i t Corporat ion ( 1 / 1 7 / 8 1 ) 3 /

Western Bancorporat ion , Los A n g e l e s , C a l i f o r n i a , n o t i f i -ca t ion 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 a c t i n g as an investment or f i n a n c i a l a d v i s e r to the e x t e n t se t forth in t h e Board's Regula t ion Y, exc lud ing the a c t i v i t y of 2 2 5 . 4 ( a ) ( 5 ) ( i i ) at 800 Seventeenth S t r e e t , Denver, Colorado, through i t s sub-s i d i a r y , Western Asset Management Company ( 1 / 1 3 / 8 1 ) 3 /

San Franci sco

37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behal 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 , 1981 No. 3

Richmond

San F r a n c i sco

San F r a n c i sco

San F r a n c i s c o

- 10 -

APPLICATIONS RECEIVED

To E s t a b l i s h a Domestic Branch Pursuant to S e c t i o n 9 of the Federal Reserve Act

Union Trust Company of Maryland, Bal t imore , Maryland. Branch to be e s t a b l i s h e d a t 1301 York Road, L u t h e r v i l l e , Bal t imore County, and at 207 East Redwood S t r e e t , Bal t imore , Maryland. If

United 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 the v i c i n i t y of the i n t e r s e c t i o n of Aval on Boulevard and V i c t o r i a Avenue, Carson, Los A n g e l e s , C a l i f o r n i a County, C a l i f o r n i a . 2 /

Va l l ey Bank of Nevada, Las Vegas, Nevada. Branch to be e s t a b l i s h e d at 3121 South Maryland Parkway, Las Vegas, Clark County, Nevada. 2/

V a l l e y Bank and Trust Company, S a l t Lake C i t y , Utah. Branch to be e s t a b l i s h e d at 1082 East 7200 South (Fort Family Center ) , Midvale , S a l t Lake C i t y , Utah. 2 /

* * * * *

To E s t a b l i s h a U.S. Branch of an Edge Act Corporat ion Pursuant t o S e c t i o n 25(a) of the Federal Reserve Act

San S e c u r i t y P a c i f i c I n t e r n a t i o n a l Bank, New York, New York: F r a n c i s c o r e q u e s t s consent to e s t a b l i s h de novo branches in

S e a t t l e , Washington; C l e v e l a n d , Ohio; Minneapo l i s , Minnesota; Boston, Massachuset ts ; and S t . L o u i s , Missour i ,

* * * * *

To Organize , or Inves t i n , a Corporat ion Doing Fore ign Banking and Other Fore ign Financing Pursuant t o S e c t i o n 25 or 25(a) of the Federal Reserve Act

New York A l l i e d Bank I n t e r n a t i o n a l , New York, New York: r e q u e s t s consent to organize an agreement c o r p o r a t i o n to be named A l l i e d I n t e r n a t i o n a l Bancorp, I n c .

2 / A p p l i c a t i o n subjec t to Community Reinvestment Ac t . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l e n g t h of the comment per iod .

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

H.2 , 1981 No. 3 11

APPLICATIONS RECEIVED-Continued

To Form a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 1 ) of the Bank Holding Company Act of 1956

Chicago NORTHERN INDIANA BANCSHARES, INC., V a l p a r a i s o , Ind iana , for approval to acquire 100 percent of the v o t i n g shares ( l e s s 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 the s u c c e s s o r by merger to Northern Indiana Bank and Trust Company, V a l p a r a i s o , I n d i a n a . 2/

Chicago VALDERS BAN CORPORATE ON, Valders , Wiscons in , for approval to acqu ire 80 percent of the v o t i n g shares of Valders S t a t e Bank, Valders , Wiscons in . 2J

S t . Louis Banks to ck Two, I n c . , Dardanel l e , Arkansas, f o r approval to acquire a t l e a s t 80 percent of t h e v o t i n g shares of Arkansas Val l ey Bank, Dardanel l e , Arkansas. 2/

Minneapol i s FIRST SECURITY BANCORPORATION, Mi les C i ty , Montana, for approval t o acquire 9 9 . 6 4 percent of the v o t i n g shares o f F i r s t S e c u r i t y Bank & Trust of Mi l e s C i t y , Mi les C i t y , Montana. 2]

Kansas Ci ty Alp ine Bancorp, I n c . , Glenwood Springs , Colorado, f o r ap-proval to acquire 100 percent of the v o t i n g s h a r e s of V a l l e y Bank and Trust , Glenwood Springs , Colorado and 100 percent of t h e v o t i n g shares of Roaring Fork Ban-c o r p o r a t i o n , I n c . , Carbondale, Colorado. 2/

Kansas Ci ty Jayhawk Bancshares , I n c . , Kansas C i t y , M i s s o u r i , for ap-proval t o acquire 100 percent of the v o t i n g shares of Lawrence Bancshares , I n c . , Kansas C i t y , Missouri and i n d i r e c t l y a c q u i r e 94 .09 percent of the v o t i n g shares of Lawrence Bank and Trust C o . , N .A. , Lawrence, Kansas. 2/

Kansas Ci ty Welch Bancshares , I n c . , Welch, Oklahoma, f o r approval to acquire 80 percent of t h e v o t i n g shares of Welch S t a t e Bank, Welch, O k l a . , Welch, Oklahoma. 2]

Kansas Ci ty Whiting Bankshares , I n c . , Whit ing, Kansas, for approval to acqu ire 80 percent of the v o t i n g shares of The S t a t e Bank of Whiting, Whiting, Kansas. 2 /

27 A p p l i c a t i o n subjec t to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve 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 .

I


H.2 , 1981 No. 3 - 12 -


D a l l a s Bonham Bancshares , I n c . , Bonham, Texas , f o r approval to acquire 80 percent or more of t h e v o t i n g shares ( 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 The F i r s t National Bank of Bonham, Bonham, Texas . 2 /

D a l l a s Conso l idated Bancorp, I n c . , Waco, Texas , f o r approval to acquire 80-100 percent of t h e v o t i n g s h a r e s of The F i r s t Nat ional Bank of Rosebud, Rosebud, Texas; The F i r s t Nat iona l Bank, H i l l s b o r o , Texas , H i l l s b o r o , Texas; and F i r s t S t a t e Bank of Hewi t t , Hewi t t , Texas . 2/

San Southwest Bancorp, V i s t a , C a l i f o r n i a , for approval t o F r a n c i s c o acqu ire 80 percent of the v o t i n g shares of the s u c c e s s o r

by merger to Southwest Bank, V i s t a , C a l i f o r n i a . 2J

* * * * *

To Expand a Bank Holding Company Pursuant to S e c t i o n 3 ( a ) ( 3 ) of the Bank Holding Company Act of 1956

S t . Louis M e r c a n t i l e Bancorporat ion I n c . , S t . Louis , M i s s o u r i , for approval to acquire 100 percent of the v o t i n g shares of The F i r s t Nat iona l Bank of Monett, Monett, M i s s o u r i . 2 /

Minneapol i s Northwest Bancorporat ion , Minneapol is , Minnesota, f o r ap-proval to acquire 100 percent of t h e v o t i n g shares of S t a t e F i n a n c i a l S e r v i c e s , I n c . , Worthington, Minnesota, and i n d i r e c t l y S t a t e Bank of Worthington, Worthington, Minnesota . 2/

Dal l a s Texas Commerce Bancshz :es , I n c . , Houston, Texas , f o r ap-proval to acquire 100 percent of t h e v o t i n g s h a r e s of Gulfway Nat iona l Bank o f Corpus C h r i s t i , Corpus C h r i s t i , Texas . 2 /

Dal l a s Texas Commerce Bancshares , I n c . , Houston, Texas , f o r ap-proval to acquire 100 percent of t h e v o t i n g shares of The M e r c a n t i l e Nat ional Bank of Corpus C h r i s t i , Corpus Christ i , Texas . 2 /

2 / A p p l i c a t i o n subject to Community Reinvestment Act . The Community Reinvestment O f f i c e r of the a p p l i c a b l e Reserve Bank may be c o n t a c t e d as to the l eng th of the comment per iod .


APPLICATIONS RECEIVED-Cont inued

To Expand a Bank Holding Company Pursuant to S e c t i o n 4 ( c ) ( 8 ) of the Bank Holding Company Act of 1956

Boston I n d u s t r i a l Nat ional Corporat ion, Prov idence , 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 (making, a c q u i r i n g and s e r v i c i n g loans and other 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 commercial loans secured by borrower's inventory , a c c o u n t s r e c e i v a b l e or other a s s e t s engaging i n f a c t o r i n g ; and engaging i n personal property l e a s i n g ) at 85 Westminster S t r e e t , Prov idence , Rhode I s l a n d , through i t s i n d i r e c t s u b s i d i a r y , Ambassador Factors Corporat ion ( 1 / 1 6 / 8 1 ) 3/

Boston Old Stone Corporat ion , Prov idence , 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 ( the 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 mortgage loans ; the 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 acc ident insurance o f f e r e d in connec t ion w i t h e x t e n s i o n s of c r e d i t which insurance would be re insured by an a f f i l i a t e , Motor L i f e Insurance Com-pany; and the s a l e of c a s u a l t y insurance on property mortgaged in c o n n e c t i o n with e x t e n s i o n s of c r e d i t ) through i t s i n d i r e c t s u b s i d i a r y , DAC Corporation of Alabama ( 1 / 1 2 / 8 1 ) 3 /

New York C i t i c o r p , New York, New York, n o t i f i c a t i o n of i n t e n t to expand the s e r v i c e area of an e x i s t i n g o f f i c e engaging in the f o l l o w i n g a c t i v i t i e s ( the purchasing f o r i t s own account and s e r v i c i n g s a l e s f inance c o n t r a c t s ; the s a l e of c r e d i t r e l a t e d l i f e and acc ident and h e a l t h ; d e c r e a s -ing or l e v e l ( i n the case of s i n g l e payment loans) term l i f e insurance by l i c e n s e d agents or brokers , as required and t h e making of loans to i n d i v i d u a l s and b u s i n e s s e s secured by r e a l and personal proper ty , the proceeds of vrfiich may be for purposes other than p e r s o n a l , fami ly or household u s a g e , the e x t e n s i o n of loans to d e a l e r s for the f i n a n c i n g of inventory ( f l o o r planning) and work-ing c a p i t a l purposes; and the s a l e of c r e d i t r e l a t e d property and c a s u a l t y insurance p r o t e c t i n g r e a l and per-sonal property subject to a s e c u r i t y agreement w i t h Nat ionwide F i n a n c i a l Corporat ion , and to the ex tent p e r m i s s i b l e under a p p l i c a b l e S ta te insurance laws and

3 / 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on beha 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 , 1981 No. 3 - 14 -

APPLICATIONS RECElVED-Cont inued

r e g u l a t i o n s ; c r e d i t r e l a t e d l i f e , a c c i d e n t , and h e a l t h in surance may be underwritten by Family Guardian L i f e Insurance Company, an a f f i l i a t e of Nationwide F i n a n c i a l Corporat ion) a t 1425 West P i o n e e r , S u i t e 255, I r v i n g , Texas, through i t s s u b s i d i a r y , Nationwide F i n a n c i a l Cor-porat ion to i n c l u d e McCurtain County in the S t a t e of Oklahoma ( 1 / 1 2 / 8 1 ) 3/

New York Manufacturers Hanover Corporat ion , New York, New York, no-t i f i c a t i o n of in ten t to engage in de novo a c t i v i t i e s ( i n arranging , making or a c q u i r i n g for t h e i r own account or for the account of o t h e r s , loans and other e x t e n s i o n s of c r e d i t secured by second mortgages on r e s i d e n t i a l r e a l property such as would be made by a consumer f i n a n c e company; s e r v i c i n g such loans and other e x t e n s i o n s of c r e d i t for any person; a c t i n g as an agent or broker for the s a l e of s i n g l e and j o i n t c r e d i t l i f e insurance which i s d i r e c t l y r e l a t e d to such loans and e x t e n s i o n s of c r e d i t , and through i t s s u b s i d i a r i e s , R i t t e r L i f e Insurance Company and Tempco L i f e Insurance Company, r e i n s u r i n g such c r e d i t insurance) t h e s e a c t i v i t i e s would be conducted at the f o l l o w i n g e x i s t i n g o f f i c e s of I n v e s t o r s Consumer Discount Company of Pennsy lvania: P.O. Box 1231, Brodhead & Mi l l Road, A l iqu ippa; P.O. Box 807, 1113 Seventh Avenue, Beaver F a l l s ; P.O. Box 417, 6 S. Hanover S t r e e t , C a r l i s l e ; P.O. Box 61, 38 N. Main S t r e e t , Chambersburg; P.O. Box 43 , Country Plaza - Route 2 2 , Delmont; 511 Lawrence Avenue, Ellwood Ci ty ; 38 York S t r e e t , P.O. Box 315, Gettysburg; York Mini-Mai 1, P.O. Box 363, 398 York S t r e e t , Hanover; P.O. Box 33, 651 Main S t r e e t , Mount P l e a s a n t ; 134 N. Mercer S t r e e t , New C a s t l e ; P.O. Box 121, 51 E. King S t r e e t , Shippensburg; P.O. Box 29, 237 E. Main S t r e e t , Waynesboro; and P.O. Box 566 , 100 S. Beaver S t r e e t , York, Pennsy lvan ia , a l l located i n Pennsy lvania ( 1 / 1 2 / 8 1 ) 3J

New York Manufacturers Hanover Corporat ion , 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 arranging , making or a c q u i r i n g for t h e i r own account or for the account of o t h e r s , loans and other e x t e n s i o n s of c r e d i t secured by second mortgages on r e s i d e n t i a l r e a l property such as would be made by a consumer f i n a n c e company; s e r v i c i n g such loans and other e x t e n s i o n s of c r e d i t f o r any person; a c t i n g as agent or broker f o r the s a l e of s i n g l e and j o i n t c r e d i t l i f e in surance uhich i s

3 / 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behal f of t h e Board of Governors under de l ega ted a u t h o r i t y .


H.2 , 1981 No. 3 - 15 -


d i r e c t l y r e l a t e d t o such loans and e x t e n s i o n s of c r e d i t , and through i t s s u b s i d i a r i e s , R i t t e r L i f e Insuance Company and Tempco L i f e Insurance Company, r e i n s u r i n g such c r e d i t insurance ) t h e s e a c t i v i t i e s would be conducted at the f o l l o w i n g e x i s t i n g o f f i c e s of R i t t e r Consumer Discount Company, I n c . of Pennsylvania a t : 410 E. Plank Road, Al toona; 22 E. L a n c a s t e r Avenue, Ardmore; 104 N. Al legheny S t r e e t , B e l l e f o n t e ; 118 N. Market S t r e e t , Berwick; 1304 E. Main S t r e e t , Clar ion; 160 W. Crawford Avenue, Connel1s-v i l l e ; 120 W. Ridge P i k e , Conshohocken; Neshaminy Mall S t o r e 207A, Cornwells He ight s ; 812 N. Easton Road, D o y l e s -town; 110 N. Center S t r e e t , Ebensburg; 439 N. Enola Road, Enola; Route 73, S t o r e 6D, G i l b e r t s v i l l e ; 40 S. Antrim Way, G r e e n c a s t l e ; 1509 S c a l p Avenue, Johnstown; 15 East Main S t r e e t , Kutztown; 612 E. Main S t r e e t , Lansdale ; 1331 E. L inco ln Highway, Levi t town; 45-47 Broadway, Milton; 21 N. Third S t r e e t , Oxford; 349 Main S t r e e t , Pennsburg; 6139 1 /2 Ridge Avenue, P h i l a d e l p h i a ; 9251 R o o s e v e l t Boulevard, P h i l a d e l p h i a ; 1422 Chestnut S t r e e t , P h i l a d e l p h i a ; 1540-42 P r a t t S t r e e t , P h i l a d e l p h i a ; 2049 Oregon Avenue, P h i l a d e l p h i a ; 6315 Ris ing Sun Avenue, P h i l a d e l p h i a ; 1421 W. Passyunk Avenue, P h i l a d e l p h i a ; 105 E. Main S t r e e t , Somerset; 228 Bal t imore P i k e , S p r i n g f i e l d ; 113 S. Front S t r e e t , S t e e l ton; 3463 L inco ln Highway, Thorndale; 6758 Market S t r e e t , Upper Darby; 200 S. Best Avenue, Walnutport; 22 W. Chestnut S t r e e t , Washington; 117 W. Market S t r e e t , West Chester; 451 Hepburn S t r e e t , Wi l l iamsport ; 137 North Yord Road, Willow Grove; 1837 Queen S t r e e t , York; and 14 N. Beaver S t r e e t , York, a l l l oca ted in Pennsy lvania ( 1 / 1 2 / 8 1 ) 3/

Cleveland American Bancorporat ion, M a r i e t t a , Ohio , 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 (genera l l e a s i n g a c t i v i t i e s i n c l u d i n g acquir ing l e a s e s for i t s account and the account of o t h e r s ; and a c t i n g as s e r v i c e r f o r such l e a s e s ; t h i s a c t i v i t y would be l i m i t e d to those types of l e a s e s as permitted under 12 CFR 2 2 5 . 4 ( a ) ( 6 ) ) at Room 625 , Dime Bank B u i l d i n g , 200 Putnam, M a r i e t t a , Ohio, through i t s s u b s i d i a r y , American B a n c l e a s i n g , I n c . ( 1 2 / 2 3 / 8 0 ) 3V

37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behal 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, 1981 No. 3 - 16 -


Cleveland Mellon National Corporat ion, P i t t s b u r g h , Pennsy lvan ia , no-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 (mortgage banking a c t i v i t i e s inc lud ing a c t i n g as i n s u r -ance agent with re spec t to the s a l e of c r e d i t l i f e i n s u r -ance and/or mortgage redemption insurance) at 1204 N. Vela s co , Angle t o n , Texas , through a s u b s i d i a r y , Car ruth Mortgage Corporat ion ( 1 2 / 2 9 / 8 0 ) 3 /

Chicago The Marine Corporat ion, Milwaukee, Wiscons in , 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, s e l l i n g and s e r v i c i n g c o n v e n t i o n a l r e s i d e n t i a l mortgage l o a n s ) through i t s s u b s i d i a r y , Marine Mortgage Company, I n c . ; t h e geographic scope i s the S t a t e of Wisconsin and the northern one quarter of the S ta te of I l l i n o i s ( 1 / 5 / 8 1 ) 3/

S t . Louis Union P l a n t e r s Corporat ion , Memphis, Tennessee , 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 d i r e c t l o a n s , both unsecured and secured by r e a l and/or personal property , for consumer and other purposes , d i s -count ing n o t e s , s e c u r i t y agreements and other i n d i c i a of s e c u r i t y , and making d i r e c t loans to dea lers for t h e f i n a n c i n g of inventory; in a d d i t i o n , a c t i n g as insurance agent at o f f i c e s a t vtfiich i t i s otherwise engaged i n b u s i n e s s wi th re spec t to c r e d i t l i f e , c r e d i t acc ident and h e a l t h i n s u r a n c e , and v e h i c l e and household goods property damage insurance 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 ) a t 67 Madison Avenue, Memphis, Tennessee , through an e x i s t i n g ( i n a c t i v e ) ttf iol ly owned s u b s i d i a r y , Madison Loan & T h r i f t Company ( 1 / 1 6 / 8 1 ) 3 /

S t . Louis Western Kentucky Bancshares , I n c . , Livermore, Kentucky, 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 as insurance agent or broker w i t h re spec t to the s a l e of acc ident and h e a l t h , and property and c a s u a l t y insurance which i s d i r e c t l y r e l a t e d to 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) t h i s a c t i v i t y w i l l be conducted only a t the o f f i c e s of the s u b s i d i a r y bank, Farmers & Merchants Bank, Livermore, Kentucky ( 1 / 1 5 / 8 1 ) 3J

San S e a f i r s t Corporat ion , S e a t t l e , Washington, n o t i f i c a t i o n of F r a n c i s c o i n t e n t to engage i n de novo a c t i v i t i e s (making or a c q u i r -

ing loans and other e x t e n s i o n s of c r e d i t inc luding com-mercia l loans secured by a borrower's i n v e n t o r y , accounts

3*7 4 ( c ) ( 8 ) or 4 ( c ) (12) n o t i f i c a t i o n processed by Reserve Bank on behal 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 .

1


H.2 , 1981 No. 3 - 17 -


r e c e i v a b l e , c a p i t a l equipment or other a s s e t s ; s e r v i c i n g l o a n s ; l e a s i n g personal property; and a c t i n g as agent for the s a l e of c r e d i t l i f e and acc ident and h e a l t h insurance 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 ) t h e s e a c t i v i t i e s would be conducted from o f f i c e s in Oklahoma C i t y , Oklahoma, s e r v i n g the S t a t e of Oklahoma; Houston, Texas, s e r v i n g the S t a t e of Texas; and i n S e a t t l e , Washington, s e r v i n g the S t a t e of Washington, through i t s s u b s i d i a r y , S e a f i r s t Commercial Corporation ( 1 / 1 2 / 8 1 ) 3/

Southwest Bancorp, V i s t a , C a l i f o r n i a , f o r approval to acquire Southwest T h r i f t and Loan A s s o c i a t i o n , San Diego , C a l i f o r n i a .

Wells Fargo & 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 -ca t ion of i n t e n t to engage i n de novo a c t i v i t i e s (mak-ing or acquir ing loans or other 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 commercial loans secured by a borrower's inven-t o r y , a c c o u n t s r e c e i v a b l e , or other a s s e t s ; s e r v i c i n g loans in accordance with Board's Regulat ion Y) t h e s e a c t i v i t i e s would be conducted from an o f f i c e in Hunt V a l l e y , Maryland s e r v i c i n g Maryland, V i r g i n i a , West V i r g i n i a , Ohio , Pennsy lvania and New J e r s e y , through i t s s u b s i d i a r y , Wel l s Fargo Bus iness Credi t ( 1 / 1 4 / 8 1 ) 3/

* * * * *

REPORTS RECEIVED

None.

* * * * *

PETITIONS FOR RULEMAKING

None.

j / 4 ( c ) ( 8 ) or 4 ( c ) ( 1 2 ) n o t i f i c a t i o n processed by Reserve Bank on behal 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 .

San F r a n c i sco

San Franci sco

i
