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ANNOUNCEMENT BY

APPLICABLE RESERVE BANK

Chicago

D a l l a s

Chicago

Chicago

Cleveland

D a l l a s

Cleveland

BOARD OF GOVERNORS OF THE

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

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 10, 1981

ACTIONS OF THE BOARD

Statement by Chairman Paul A. Volcker be fore the Senate Banking Committee to d i s c u s s recent monetary and economic developments and to o u t l i n e some of t h e key i s s u e s r e l a t i n g t o monetary p o l i c y for 1981 and beyond.

I s suance of a subordinated c a p i t a l note by Commerce Union Bank of Memphis, Memphis, Tennessee .

Aurora Bancshares Corporat ion , Aurora, I l l i n o i s , e x t e n -s i o n of time to Apri l 14, 1981, w i th in which to become a bank ho ld ing company through the a c q u i s i t i o n o f 100 percent of the v o t i n g shares of Aurora Nat ional Bank, Aurora, I l l i n o i s . J7

F i r s t Grand P r a i r i e Bank Shares , I n c . , Grand P r a i r i e , Texas , e x t e n s i o n of t ime to Apri l 4 , 1981, w i t h i n vrtiich to consummate the a c q u i s i t i o n of Nat ional Bank of Grand P r a i r i e , Grand P r a i r i e , Texas . 1/

Seaway Bancshares , I n c . , Chicago, I l l i n o i s , e x t e n s i o n of t ime to Apri l 1 , 1981, w i t h i n tdiich to become a bank h o l d i n g company through the a c q u i s i t i o n of 100 percent of t h e v o t i n g shares of Seaway Nat iona l Bank o f Chicago, Chicago, I l l i n o i s . V

Bank of Sturgeon Bay, Sturgeon Bay, Wiscons in , an i n v e s t -ment in bank premises . \J

Croton Bank Co . , Croton, Ohio , an investment in bank premises . \J

F i r s t S t a t e Bank o f B e l l a i r e , B e l l a i r e , Texas , an i n v e s t -ment in bank premises . _1/

Provident Bank, C i n c i n n a t i , Ohio, an investment in bank premises . 1/

1J 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 .

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

H.2 , 1981 No. 2 - 2 -

ACTIONS OF THE fiOARD-Continued

Chicago Harbor Springs S t a t e Bank, Harbor Springs , Michigan, e x t e n -s ion of t ime to August 11 , 1981, w i t h i n which to e s t a b -l i s h a branch at 115 East Lake S t r e e t , Harbor Springs , Michigan. JV

A t l a n t a American National Bank o f Brunswick, Georgia , proposed merger with American Nat iona l Interim Bank, Brunswick, Georgia; report to the Comptrol ler of the Currency on c o m p e t i t i v e f a c t o r s . V

Boston Colonia l Bank, Waterbury, Connec t i cu t , proposed merger with The Bank of Trumbull , Trumbull, Connect icut ; report to the Federal Depos i t Insurance Corporation on compet-i t i v e f a c t o r s . 1/

A t l a n t a E l l i s F i r s t Nat ional Bank of New Port Richey, F l o r i d a , proposed merger with E l l i s F i r s t Nat ional Bank of Hudson, F lor ida ; report to the Comptrol ler of the Currency on c o m p e t i t i v e f a c t o r s . JL/

Chicago F i r s t Nat ional Bank in Chicago He ights , Chicago Heights , I l l i n o i s , a p p l i c a t i o n for prior approval to merge with Second National Bank o f Chicago Heights , Chicago Heights , I l l i n o i s , under the charter and t i t l e o f F i r s t Nat iona l Bank in Chicago Heights ; report to the Comptroller of the Currency on c o m p e t i t i v e f a c t o r s . \J

P h i l a d e l p h i a F i r s t Nat ional Bank o f F a i r f i e l d , F a i r f i e l d , Pennsy lvan ia , proposed merger with C i t i z e n s Nat iona l Bank and Trust Company o f Waynesboro, Waynesboro, Pennsy lvan ia , under the charter and t i t l e o f C i t i z e n s Nat iona l Bank and Trust Company o f Waynesboro; report to the Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . \J

Chicago Imlay Ci ty S t a t e Bank, Imlay C i t y , Michigan, a p p l i c a t i o n for prior approval to merge with The F i r s t Nat ional Bank of Lapeer, Lapeer , Michigan, under the charter and t i t l e of Imlay C i t y S t a t e Bank, Imlay C i t y , Michigan; report to the Federal Depos i t Insurance Corporation on compet-i t i v e f a c t o r s . 1 /

San Pan American National Bank of Los A n g e l e s , Los Ange le s , Franc i sco C a l i f o r n i a , two branches o f , proposed merger with Santa

Ana S t a t e Bank, Santa Ana, C a l i f o r n i a , under the char ter and t i t l e of the l a t t e r ; report to the Comptroller of t h e Currency on c o m p e t i t i v e f a c t o r s . 1/

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 .

I


H.2 , 1981 No. 2 3 -

ACTIOMS OF THE BOARD-Continued

A t l a n t a Richmond Nat ional Bank, Richmond, Texas , proposed merger with The F i r s t Nat iona l Bank of Richmond, Richmond, Texas; report to the Comptrol ler of the Currency on c o m p e t i t i v e f a c t o r s . 1/

Dal l a s Texas Bank o f Beaumont, Beaumont, Texas , proposed merger with Dowlen Bank, Beaumont, Texas; report to the Federal Depos i t Insurance Corporat ion on compet i t i ve f a c t o r s . 1/

Richmond United C a r o l i n a Bank, Whit e v i l l e , W h i t e v i l l e , North C a r o l i n a , proposed merger w i t h United Carol ina Bank, Monroe, North C a r o l i n a ; report to the Federal Depos i t Insurance Corporat ion on compet i t i ve f a c t o r s . \ f

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 .


H.2, 19Pl%o. 2 - 4 -

ACTIONS OF THE feOARD-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

Approved Cleveland The P o t t e r s Bank and Trust Company, East L i v e r p o o l , Ohio.

Branch to be e s t a b l i s h e d at 15880 S t . Tr. 170, East L i v e r p o o l , Columbiana County, Ohio. J./ & 2/

* * * * *

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

Hot Disapproved Kansas Ci ty Ameribenc, Inc . , S t . Joseph, M i s s o u r i . JL/

* * * * *

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 Act ions Pursuant to Sec t ions 25 and 25 (a ) of t h e Federal Reserve Act and S e c t i o n s 4 ( c ) ( 9 ) and 4 ( c ) (13) of the Bank Holding Company Act of 1956, as amended

S i x t y Day N o t i f i c a t i o n Per iod Allowed t o Expire San Crocker Nat iona l Bank, San F r a n c i s c o , C a l i f o r n i a : no F r a n c i s c o o b j e c t i o n to e s t a b l i s h a branch in Seou l , Korea.

* * * * *

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

Approved A t l a n t a Etowah Bancing Company, Etowah, Tennessee , for approval

to acquire 100 percent of the v o t i n g shares of Southern United Bank of McMinn County, Etowah, Tennessee . 1/ & 2 /

JL/ 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 .

i j 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 .


H.2, 1981 No. 2 * " - 5 -

ACTIONS OF THE BOARD-Continued

Chicago E l g i n Bancshares , I n c . , Kansas C i t y , Missour i , f o r ap -proval to acquire 80 percent of t h e v o t i n g shares of Union Nat ional Bank and Trust Company of E l g i n , E l g i n , II l i n o i s . J7 & 27

S t . Louis P l a n t e r s Holding Company, I n d i a n o l a , M i s s i s s i p p i , f o r ap-proval to acquire at l e a s t 80 percent of t h e v o t i n g shares of P lanters Bank & Trust Company, R u l e v i l l e , M i s s i s s i p p i . _1/ & 2 /

Kansas City Savannah Bancshares , I n c . , Savannah, Missour i , f o r ap-proval to acquire 80 percent of the v o t i n g shares of F i r s t Community S t a t e Bank o f Savannah, Mis sour i , Savannah, M i s s o u r i . \J & 2 /

D a l l a s Denver City Bancshares , I n c . , Denver C i t y , Texas , f o r ap-proval to acquire 80 percent of t h e v o t i n g s h a r e s of Yoakum County Bancshares , I n c . , Denver C i t y , Texas and i n d i r e c t l y Yoakum County S t a t e Bank, Denver C i t y , Texas . JV & 2/

D a l l a s Schertz Bancshares Corporat ion , S c h e r t z , Texas , f o r ap-proval to acquire 80 percent of t h e v o t i n g s h a r e s of Schertz Bank & Trust , S c h e r t z , Texas . JJ & 7J

* * * * *

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

Approved New York The Summit Bancorporat ion , Summit, New J e r s e y , for approval

to acqu ire 100 percent of the v o t i n g shares of The Maple-wood Bank and Trust Company, Maplewood, New J e r s e y . If & 2/

\f A p p l i c a t i o n processed on behalf 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 per iod .


H.2, 1981 No. 2 - 6 -


Minneapol i s South Dakota Bancshares , I n c . , P i e r r e , South Dakota, f o r approval to acquire 100 percent of t h e v o t i n g shares of S u l l y County Insurance Agency, Onida, South Dakota owning 5 4 . 7 percent of the v o t i n g shares of S u l l y County Bank, Onida, South Dakota and t o acquire an a d d i t i o n a l 4 0 . 6 percent of t h e v o t i n g shares of S u l l y County Bank, Onida, South Dakota. \J & 2j

D a l l a s Republic of Texas Corporat ion , D a l l a s , Texas , 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 1 q u a l i f y i n g s h a r e s ) of Houston Nat iona l Bank-King-wood, Kingwood, Texas , a proposed new bank. If & 2]

D a l l a s Republic of Texas Corporat ion, D a l l a s , Texas , 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 Houston Nat iona l Bank West, Houston, Texas , a proposed new bank. \ j & 2J

* * * * *

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

Delayed Kansas Ci ty Bankshares of Nebraska, I n c . , Grand I s l a n d , Nebraska, n o -

t i f i c a t i o n of in ten t to engage i n de novo a c t i v i t i e s ( t o engage in i n d u s t r i a l loan and investment company a c t i v i t i e s ) at 124 West 46 th S t r e e t , Kearney, Nebraska, through a s u b s i d i a r y , F i r s t Savings Company of Kearney, I n c . ( 1 / 8 / 8 1 ) 3/

Permitted New York Barc lays Bank Limited and B a r c l a y s Bank I n t e r n a t i o n a l

Limited , both of London, England, n o t i f i c a t i o n of in ten t to engage i n de novo a c t i v i t i e s (making d i r e c t consumer loans and purchasing of s a l e s f inance c o n t r a c t s r e p r e -s e n t i n g e x t e n s i o n s of c r e d i t such as would be made o r acquired by a consumer f i n a n c e company and w h o l e s a l e

JJ 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 e n g t h of the comment per iod .

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 beha l f of the Board of Governors under de legated a u t h o r i t y .


H.2, 1981 No. 2 - 7 -

ACTIONS OF THE BOARD-Contiaued

f i n a n c i n g ( f l o o r p l a n n i n g ) ; and ac t ing as agent for the s a l e of r e l a t e d 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 and c r e d i t property insurance ) at 2633 West 23rd S t r e e t , Panama C i t y , F l o r i d a , through t h e i r s u b s i d i a r y , Bare l a y s -AmericanCredit , I n c . and at 6411 Pensacola Boulevard, Pensaco la , F l o r i d a , through t h e i r s u b s i d i a r y , B a r c l a y s -Americ anCorpo rat ion ( 1 / 8 / 8 1 ) 3/

New York B a r c l a y s Bank Limited and B a r c l a y s Bank I n t e r n a t i o n a l L imi ted , both of London, England, n o t i f i c a t i o n of in tent to r e l o c a t e de novo a c t i v i t i e s (making d i r e c t consumer loans and purchasing of s a l e s f inance c o n t r a c t s r e p r e -s e n t i n g e x t e n s i o n s of c r e d i t such as would be made or acquired by a consumer f inance company and w h o l e s a l e f i n a n c i n g ( f l o o r p lann ing) ; a c t i n g as agent for the s a l e of r e l a t e d 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 and c r e d i t property insurance ; and s e l l i n g at r e t a i l t r a v e l e r s checks i s sued by Barc lays Bank I n t e r n a t i o n a l Limited) from 128 North Main S t r e e t , Sumter, South Carol ina to 732 Bultman S t r e e t , Sumter, South Caro l ina , through t h e i r s u b s i d i a r y , Bare 1aysAmerican Corporation ( 1 / 9 / 8 1 ) 3 /

New York Chemical New York 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 a c t i v i t i e s that may be carr ied on by an investment 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 investment advice to i n d i v i d u a l s , c o r p o r a t i o n s , governmental e n t i t i e s and other i n s t i t u t i o n s on both 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 ) at 215 Madison, Tampa, F l o r i d a , through i t s s u b s i d i a r y , ICM of the South, Inc . ( 1 / 4 / 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 engage i n de novo a c t i v i t i e s ( i n making or acqu ir ing loans and o ther e x t e n s i o n s of c r e d i t to f inance the purchase o f mobile homes, modular homes, or manufactured h o u s i n g , t o g e t h e r w i t h the real property to which such hous ing i s o r w i l l be permanently a f f i x e d , such property being used as s e c u r i t y for the loan; p r e v i o u s l y approved a c t i v i t i e s a r e : purchas ing for 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 la ted l i f e and acc ident and h e a l t h or decreas ing or l e v e l ( i n

37 4 ( c ) ( 8 ) or 4 ( c ) ( 1 ? ) 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. 2 - 8 -

ACTIONS OF THE BOARD-Cont inued

the case of s i n g l e payment l o a n s ) term l i f e insurance by l i c e n s e d agents or b r o k e r s , as requ ired; 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 personal and r e a l property subjec t to a s e c u r i t y agreement w i t h each of the below named c o r p o r a t i o n s , and to the extent 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 insurance laws and r e g u l a t i o n s ; making or acquir ing loans and other e x -t e n s i o n s of c r e d i t , secured or unsecured, for consumer and o ther purposes; and the e x t e n s i o n of loans to dea l er 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; 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 i n s u r a n c e w i l l be o f f e r e d with a l l the aforementioned c r e d i t products of these o f f i c e s and may be underwri t ten by Family Guardian L i f e Insurance Company) a t 10220 Scr ipps Ranch Boulevard, San Diego , C a l i f o r n i a , through i t s sub-s i d i a r y , C i t i c o r p Person- to -Person F i n a n c i a l Center , Inc . (Delaware) and at 1450 C. Enea C i r c l e , Concord, C a l i f o r n i a , through i t s s u b s i d i a r y , Nationwide F i n a n c i a l Corporat ion of C a l i f o r n i a ( 1 / 9 / 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 t o engage in de novo a c t i v i t i e s ( a c t i n g as an investment and f i n a n c i a l adviser to the ex ten t of ( i ) providing p o r t f o l i o investment a d v i c e , i n c l u d i n g investment manage-ment s e r v i c e s to i n d i v i d u a l s , p a r t n e r s h i p s , c o r p o r a t i o n s , t r u s t s and o ther persons; and ( i i ) furn i sh ing general economic in format ion and a d v i c e , genera l s t a t i s t i c a l f o r e c a s t i n g s e r v i c e s and indus try s t u d i e s ) at 9100 W i l s h i r e Boulevard, Bever ly H i l l s , C a l i f o r n i a , through i t s s u b s i d i a r y , C i t i c o r p Investment Management, I n c . ( 1 / 7 / 8 1 ) 3 /

P h i l a d e l p h i a Her i tage Bancorporat ion , 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 in de novo a c t i v i t i e s (making or acquir ing f o r i t s own account or f o r the account of o t h e r s , loans secured by mortgages on commercial or r e s i d e n t i a l proper ty , c o n s t r u c t i o n p r o j e c t s or vacant land; s e r v i c i n g o f mortgage loans ttfiich w i l l i n c l u d e FHA, VA and commercial loans; and a c t i n g as s a l e s agent for c r e d i t l i f e insurance and c r e d i t acc ident and h e a l t h insurance on mortgage loans o r i g i n a t e d or s e v i c e d by the company) at S u i t e 103, 1675 Palm Beach Lake Boulevard, West Palm Beach, F l o r i d a , through i t s s u b s i d i a r y , H e r i t a g e Mortgage Finance Company ( 1 / 5 / 8 1 ) 3 /

T7 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 .


H.2, 1981 No. 2 - 9 -


Kansas Ci ty C.C.B. , I n c . , Denver, Colorado, Central Colorado Company, Denver, Colorado and Central Bancorporat ion , I n c . , Denver, Colorado, 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 the 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 insurance) through Central I n d u s t r i a l Bank, Aurora, Colorado ( 1 / 7 / 8 1 ) 3 /

U.S. Bancorp, Por t land , Oregon, n o t i f i c a t i o n of in ten t to engage i n de novo a c t i v i t i e s ( t o engage in t h e making, a c q u i r i n g 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 o r the account of o t h e r s i n c l u d i n g , but not l i m i t e d t o , commercia l , r ed i scount and i n s t a l l m e n t s a l e s c o n t r a c t s ; to i s s u e t h r i f t c e r t i f i c a t e s and passbooks and to act as in surance 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 insurance s o l e l y i n 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 S t a t e ) in the Jordan Square Shopping Center on the southwest corner of 7800 South S t r e e t and Redwood Road, West Jordan, Utah, through i t s s u b s i d i a r y , S t a t e Finance & T h r i f t Company, I n c . ( 1 / 8 / 8 1 ) 3/

San Franc i sco

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 behalf 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. 2 - 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

Richmond Bank o f I s l e of Wight, S m i t h f i e l d , V i r g i n i a . Branch to be e s t a b l i s h e d a t 109 East Second Avenue, Frank l in , V i r g i n i a . 7J

A t l a n t a Savannah Bank & Trust Company, Savannah, Georgia . To e s t a b l i s h an ATM and Depos i tory at the corner of 2nd Avenue and U.S. Highway 80, Tybee I s l a n d , Savannah Beach, Georgia . 2/

Chicago M&I Marshal l & I l s l e y Bank, Milwaukee, Wisconsin. To e s t a b l i s h an e l e c t r o n i c f a c i l i t y at Columbia H o s p i t a l , 2025 E. Newport, Milwaukee, Wiscons in . 7j

Chicago Capi ta l C i t y S t a t e Bank, Des Moines , Iowa. To e s t a b l i s h a temporary branch at the i n t e r s e c t i o n of Hickory Boule -vard and Maple Dr ive , P leasant H i l l , Iowa; and a permanent branch at the i n t e r s e c t i o n of Iowa Highway 163 and Hickory Boulevard, P leasant H i l l , Iowa. 2 /

* * * * *

Richmond

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

The S e c u r i t y Bank of Hunt ington, Huntington, West V i r g i n i a .

* * * * *

At lant a

To E s t a b l i s h an Overseas Branch of a Member Bank Pursuant t o S e c t i o n 25 of the Federa l Reserve Act

The I n t e r n a t i o n a l Bank o f Miami, N.A. , Miami, F l o r i d a : r e q u e s t s consent to e s t a b l i s h a l imi t ed operat ions branch in the Cayman I s l a n d s .

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. 2 - 11 -

APPLICATIONS RECEIVED-Continued

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

Boston F i r s t F i n a n c i a l Corp. , Prov idence , Rhode I s l a n d , f o r ap-proval to acquire at l e a s t 80 percent of the v o t i n g shares of F i r s t Bank and Trust Company, Providence , Rhode I s l a n d . If

Cleveland Northwest Pennsy lvania Corp. , Oi l C i t y , Pennsy lvan ia , for approval to acquire 100 percent of t h e v o t i n g shares of Northwest Pennsylvania Bank & Trust Company, Oi l C i t y , Pennsy lvan ia . 2 j

A t l a n t a Central and Southern Holding Company, M i l l e d g e v i l i e , Georg ia , for approval to acquire 100 percent of the v o t i n g shares of C i t i z e n s and Southern Bank of M i l l e d g e v i l l e , M i l l e d g e v i l l e , Georgia. 2_/

A t l a n t a C i t i z e n s Bancshares , I n c . , B r i s t o l , Tennessee , f o r ap-proval to acquire at l e a s t 80 percent of t h e v o t i n g shares of C i t i z e n s F i d e l i t y Bank, B r i s t o l , Tennessee . 2 /

A t l a n t a Southeast Capi ta l Corporat ion, Quitman, M i s s i s s i p p i , f o r approval to acquire at l e a s t 80 percent of t h e v o t i n g shares o f Southeas t M i s s i s s i p p i Bank, Quitman, M i s s i s s i p p i , 2 /

Chicago AMERICAN HOLDING CO,, Glencoe , I l l i n o i s , 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 o f Bank of Highland Park, Highland Park, I l l i n o i s . 2J

Chicago Benz Holding Company, Melvin , Iowa, for approval to acquire 89 percent of the v o t i n g shares of Melvin Savings Bank, Melv in , Iowa. 2 /

Chicago Cedar Bancorporat ion , Cedar Rapids, Iowa, f o r approval to acquire 100 percent of t h e v o t i n g shares of Cedar River Bancorporat ion , Cedar Rapids, Iowa and i n d i r e c t l y a c q u i r e 91 .35 percent of t h e v o t i n g shares of The United S t a t e Bank, Cedar Rapids, Iowa. If

Chicago E lg in Nat iona l Bancorp, Inc . , E l g i n , I l l i n o i s , for approval to acquire at l e a s t 8 1 . 6 5 percent of the v o t i n g shares of The E lg in Nat iona l Bank, E l g i n , I l l i n o i s . 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 t o the laag^h of the comment per iods

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

H.2 , 1981 No. 2 - 12 -

APPLICATIONS RECEIVED-Cont inued

Chicago Henry County Bancorp, I n c . , Cambridge, I l l i n o i s , 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 Peoples Bank of Cambridge, Cambridge, I l l i n o i s . 2/

S t . Louis Callaway S e c u r i t y Banks, I n c . , Fu l ton , M i s s o u r i , for ap-proval to acquire 80 percent of the v o t i n g shares of The Callaway Bank, Fulton, Missouri and S e c u r i t y Bank of Auxvasse , Auxvasse, Mis sour i . 2/

S t . Louis F i r s t Arkansas Bancshares , I n c . , J a c k s o n v i l l e , Arkansas, f o r approval to acquire at l e a s t 9 9 . 5 5 percent of the v o t i n g s h a r e s o f F i r s t J a c k s o n v i l l e Bank, J a c k s o n v i l l e , Arkansas. 2 /

Kansas Ci ty F i r s t B lackwe l l Bancshares, I n c . , Blackwel1 , Oklahoma, for approval to acquire at l e a s t 80 percent of the v o t i n g shares of F i r s t National Bank and Trust Company, B l a c k w e l l , Oklahoma. 2/

Kansas City F i r s t Kansas BancGroup, I n c . , Herndon, Kansas, f o r ap-proval to acquire 8 8 . 9 percent of t h e v o t i n g shares of S t a t e Bank o f Herndon, Kansas, Herndon, Kansas. 2/

Kansas City Granby Bancshares , I n c . , Granby, M i s s o u r i , for approval to acquire 9 6 . 4 percent of the v o t i n g shares of The C i t i z e n s S t a t e Bank of Granby, Granby, M i s s o u r i . 2 /

Kansas Ci ty Lakin Bancshares , I n c . , Lakin , Kansas, f o r approval to acquire 80 percent of t h e v o t i n g shares of The Kearney County Bank, Lak in , Kansas. 2 /

Kansas Ci ty Metro Bank Corp . , Denver, Colorado, for approval to acquire a t l e a s t 80 percent of the v o t i n g shares of Metro Nat ional Bank, N .A . , Denver, Colorado. 2 /

Kansas C i ty PSI Bancshares , I n c . , Muskogee, Oklahoma, f o r approval to acquire 5 8 . 0 6 percent of t h e v o t i n g shares of Exchange Bancshares , I n c . , Sk ia took , Oklahoma and i n d i r e c t l y The Exchange Bank, Sk ia took , Oklahoma. 2 /

D a l l a s Gulf Coast Bancshares , I n c . , A l v i n , Texas , f o r approval to acquire 100 percent of t h e v o t i n g shares o f F i r s t Nat iona l Bank o f A l v i n , A l v i n , Texas . 2 /

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


H.2, 1981 No. 2 - 13 -


D a l l a s NBC Bancshares , I n c . , A u s t i n , Texas , f o r approval to acquire 80 percent of t h e v o t i n g shares of Nat iona l Bank of Commerce, A u s t i n , Texas and 100 percent of the v o t i n g s h a r e s of Nat iona l Bank of Commerce-South, A u s t i n , Texas, a proposed new bank. 2/

D a l l a s Southwest Texas Bankers, I n c . , San Anton io , Texas , for ap-proval to acquire d i r e c t l y 99 percent of the v o t i n g shares of San Antonio Bank and Trust C o . , San A n t o n i o , Texas and 100 percent of the v o t i n g shares of Southwest Texas Bankers, Inc .—Delaware and i n d i r e c t l y 13 percent of t h e v o t i n g shares of S t a t e Bank o f K i n g s v i l l e , K i n g s v i l l e , Texas . 2/

San P e o p l e s Ban Corporat ion , S e a t t l e , Washington, for approval F r a n c i s c o to acqu ire 100 percent of the v o t i n g shares of the s u c c e s -

or by merger to Peoples Nat iona l Bank o f Washington, S e a t t l e , Washington. 2/

* * * * *

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

Chicago Hawkeye Bancorporat ion , Des Moines, Iowa, for approval t o a c q u i r e 100 percent of the v o t i n g shares of the s u c c e s s o r by merger to Cedar River Bancorporat i on , Cedar Rapids, Iowa and i n d i r e c t l y a c q u i r e 9 1 . 3 5 percent of the v o t i n g shares and d i r e c t l y 8 .65 percent of t h e v o t i n g shares of The United S t a t e Bank, Cedar Rapids, Iowa. 2j

Chicago V a l l e y Bancorporat i o n , Apple ton, Wiscons in , for approval to acqu ire 80 percent of the v o t i n g shares of C i t i z e n s Bank of Juneau, Juneau, Wiscons in . 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

New York Chemical New York 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 ( l e a s -ing r e a l and personal property and equipment on a non-o p e r a t i n g , f u l l payout b a s i s and a c t i n g as agent , broker and a d v i s o r with respec t to such l e a s e s ; f i n a n c i n g r e a l

jF7 A p p l i c a t i o n subjectT 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. 2 - 14 -

APPLICATIONS RECEIVED-Continued

and personal property and equipment such as would be done by a commercial f inance company; s e r v i c i n g such e x t e n -s i o n s of c r e d i t ; and purchasing and f i n a n c i n g of personal property , loans and 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 guarantee ing l e t t e r s of c r e d i t and accept ing d r a f t s ) as would be done by a f a c t o r i n g company) at 110 East 59th S t r e e t , New York, New York, through i t s s u b s i d i a r y , Chemical B u s i n e s s Credi t Corp. ( 1 / 5 / 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 ( t h e purchas-ing 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 con-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 i n g 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 requ ired; and the 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 which may be for purposes o t h e r than per-s o n a l , f a m i l y or household usage; the ex tens ion of loans to dea l er s for the f inanc ing of inventory ( f l o o r p lanning) and working c a p i t a l purposes; 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 real and personal property subjec t to a s e c u r i t y agreement with C i t i c o r p P e r s o n - t o - P e r s o n F i n a n c i a l Center, and t o the extent 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 insurance laws and r e g u l a t i o n s ; and the 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 t o f inance the purchase o f mobile homes, modular u n i t s or r e l a t e d manufactured housing t o g e t h e r with the r e a l property t o vfaich such hous ing i s or w i l l be permanently a f f i x e d , such property being used as s e c u r i t y for the loan; c r e d i t r e l a t e d l i f e , acc ident and h e a l t h insurance may be w r i t t e n by Family Guardian L i f e Insurance Company, an a f f i l i a t e o f C i t i c o r p Person-t o - P e r s o n F i n a n c i a l Center) at 3828 South Main, S a l t Lake C i t y , Utah to i n c l u d e the e n t i r e S t a t e of Arizona ( 1 / 9 / 8 1 ) 3 /

New York European American Bancorp, New York, New York, f o r approval t o underwrite as r e i n s u r e r through i t s s u b s i d i a r y , Axinn L i f e Reinsurance Corp. , c r e d i t l i f e insurance 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 European American Bank & Trust Company, New York, New York in New York City and Long I s l a n d .

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 legated a u t h o r i t y .


H.2, 1981 No. 2 - 15 -


Cleveland P i t t s b u r g h Nat ional Corporat ion, P i t t s b u r g h , Pennsy lvania , 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 personal property or ac t ing as agent , broker or adv i ser in l e a s i n g such property on a f u l l payout b a s i s in accordance w i t h p r o v i s i o n s of S e c t i o n 2 2 5 . 4 of Regu la t ion Y; a l s o making or acquir ing loans and other e x t e n s i o n s of c r e d i t p r i n c i p a l l y i n the form of f inance l e a s i n g ) at King of P r u s s i a Area, P h i l a d e l p h i a , Penn-s y l v a n i a , through i t s s u b s i d i a r y , P i t t s b u r g h Nat ional Leas ing Corp. ( 1 / 6 / 8 1 ) 3 /

Richmond Maryland Nat ional 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 (engaging g e n e r a l l y in commercial lending operat ions i n c l u d i n g , but not l i m i t e d t o , f i n a n c i n g of accounts r e c e i v a b l e , i n v e n t o r i e s , and other types of secured and unsecured loans to commercial e n t e r p r i s e s ; s e r v -i c i n g commercial loans for a f f i l i a t e d or n o n a f f i l i a t e d i n d i v i d u a l s , p a r t n e r s h i p s , c o r p o r a t i o n s or other e n t i t i e s ; and a c t i n g as adv i sor or broker in conmercial lending t r a n s a c t i o n s ) a t 1901 Powers Ferry Road, M a r i e t t a , Georg ia , through i t s s u b s i d i a r y , Maryland Nat ional I n d u s t r i a l Finance Corporat ion ( 1 / 9 / 8 1 ) 3/

A t l a n t a F i r s t M i s s i s s i p p i Nat ional Corporat ion, H a t t i e s b u r g , M i s s i s s i p p 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 ( a c t i n g as underwriter f o r c r e d i t l i f e and acc ident and h e a l t h insurance x*iich 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 A p p l i c a n t ' s bank ho ld ing company system) in H a t t i e s b u r g , M i s s i s s i p p i , through a s u b s i d i a r y , B i e n v i l l e Insurance Company ( 1 / 7 / 8 1 ) 3 /

Chicago Marshal l & I l s l e y Corporat ion , Milwaukee, Wiscons in , f o r approval to cont inue to engage in l e a s i n g a c t i v i t i e s through the Creve Coeur, Missouri o f f i c e of i t s s u b s i d -i a r y , F i r s t Nat iona l Leas ing Corp.

Correc t ion : Kansas Ci ty The n o t i c e for C .C .B . , I n c . , Denver, Colorado, Central

Colorado Company, Denver, Colorado and Central Bancor-p o r a t i o n , I n c . , Denver, Colorado to engage in de novo a c t i v i t i e s ( t o engage in i n d u s t r i a l banking a c t i v i t i e s ) through Central I n d u s t r i a l Bank, Aurora, Colorado which

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 the 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. 2 - 16


appeared on H.2 No. 44 , 1980 as Received should have a l so inc luded the a c t i v i t y ( t o engage in the s a l e of 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 insurance) ( 1 0 / 3 0 / 8 0 ) 3 /

Kansas Ci ty K. L. and D. M., I n c . , Polk , Nebraska, 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 s a l e of genera l insurance in a community of l e s s than 5 ,000 populat ion) the geographic area to be served i s Polk County, Nebraska ( 1 / 7 / 8 1 ) 3j

Kansas City PSI Bancshares , I n c . , Muskogee, Oklahoma, for approval to engage in the s a l e of c r e d i t r e la ted insurance through the a c q u i s i t i o n o f 100 percent of t h e v o t i n g shares of Exchange Bancshares Insurance Agency, I n c . , S k i a t o o k , Oklahoma and o p e r a t i n g as an i n d u s t r i a l loan company through the a c q u i s i t i o n of 100 percent of t h e v o t i n g shares of P .S .B.O. , I n c . , Muskogee, Oklahoma, a newly created corporat ion to be merged i n t o Peoples Savings and Inves tment , I n c . , Muskogee, Oklahoma.

BankAmerica Corporat ion , 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 (mak-ing or acquir ing f o r i t s own account , secured and un-secured commercial loans and other commercial e x t e n s i o n s of c r e d i t ; such a c t i v i t i e s w i l l i n c l u d e , but not be l i m i t e d t o , t h e making of loans in c o n n e c t i o n with t h e f i n a n c i n g of computer systems and computer r e l a t e d equipment, so f tware and s e r v i c e s ; such l o a n s may be secured by t a n g i b l e and i n t a n g i b l e personal property i n c l u d i n g , but not l i m i t e d t o , computer and computer r e l a t e d equipment, l e a s e s , s o f t w a r e and l i c e n s e s and other c o n t r a c t s r e l a t e d to the computer b u s i n e s s ; Decimus Corporat ion a l s o proposes to engage in the a d d i t i o n a l a c t i v i t y of s e r v i c i n g loans and other ex-t e n s i o n s of c r e d i t for others in connect ion wi th ex-t e n s i o n s of c r e d i t made or acquired by Decimus Corpora-t i o n ) these a c t i v i t i e s w i l l be conducted from an e x i s t i n g o f f i c e l o c a t e d at One C a l i f o r n i a S t r e e t , San F r a n c i s c o , C a l i f o r n i a serv ing the f i f t y S t a t e s and the D i s t r i c t o f Columbia ( 1 / 8 / 8 1 ) 3 /

San Franci sco

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 behal 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 .


H.2, 1981 No. 2 - 17 -


Sari Peoples Ban Corporat ion , S e a t t l e , Washington, f o r approval Franc i sco to r e c e i v e a s t o c k dividend of a l l s t o c k owned by Peoples

Nat ional Bank in w h o l l y owned Washington s u b s i d i a r i e s , Western S t a t e s Computer S e r v i c e , I n c . , Western S t a t e s Agenc i e s , I n c . , Peoples S e r v i c e Corporation and to acquire the s t o c k of P e o p l e s Mortgage Company.

* * * * *

REPORTS RECEIVED

Ownership Report F i l e d Pursuant to S e c t i o n 13 of the S e c u r i t i e s Exchange Act

United C i t i z e n s Bank, Wins ton-Salem, North Caro l ina ( F i l e d by F. Roger Page - Amendment #3)

United C i t i z e n s Bank, Winston-Salem, North Caro l ina ( F i l e d by C. Roger H a r r i s , Sr . - Amendment #1)

* * * * *

PETITIONS FOR RULEMAKING

None.


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