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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2, 1980 No. 43)

Act ions of t h e Board; App l i ca t i ons and Reports

Received During t h e Week Ending October 25, 1980 APPLICABLE

RESERVE BANK ACTIONS OF THE BOARD

S i m p l i f i e d procedures t h a t f i n a n c i a l i n s t i t u t i o n s may fo l l ow under the r e p o r t i n g and r e s e r v e requirement p r o v i s i o n s of t h e Monetary Control Act of 1980.

The Board has g ran ted a six-month d e f e r r a l u n t i l May 1981 of r e s e r v e requi rements for a l l f e d e r a l and S t a t e cha r -t e r e d s a v i n g s and loan a s s o c i a t i o n s and c r e d i t unions in Hawaii .

L e t t e r in response to a p e t i t i o n f o r the Board of Governors to rev iew the a c t i o n of i t s General Counsel g r a n t i n g the tax c e r t i f i c a t i o n r eques t of American F i n a n c i a l Corpora-t i o n , C i n c i n n a t i , Ohio.

Kansas Ci ty C i r c l e Management Company, Kearney, Nebraska, e x t e n s i o n of t ime to January 25, 1981, w i t h i n which to consummate t h e a c q u i s i t i o n of Guaranty T r u s t Company, Kearney, Nebraska . 1/

A t l a n t a Combanks C o r p o r a t i o n , Winter Park , F l o r i d a , e x t e n s i o n of t ime to February 18, 1981, w i t h i n which i t may acqu i r e Great Amerian Banks, I n c . , North Miami, F l o r i d a . 1/

Chicago F i n a n c i a l Na t iona l Bancshares , Co. , E l g i n , I l l i n o i s , ex t en -s ion of time to December 31, 1980, 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 of 100 percen t of the v o t i n g sha re s of the successor by merger to The F i r s t Nat iona l Bank of E l g i n , E l g i n , I l l i n o i s . \J

Chicago F i r s t Des P l a i n e s C o r p o r a t i o n , Des P l a i n e s , I l l i n o i s , ex t en -s ion of t ime to February 4 , 1981, w i t h i n trtiich to become a bank ho ld ing 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 s h a r e s of t h e successor by merger to The F i r s t Na t iona l Bank of Des P l a i n e s , Des P l a i n e s , I l l i n o i s . 1/

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

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

H . 2 , 1980 No. 43 - 2 -

ACTIONS OF THE BOARD-Continued

S t . Lou i s

D a l l a s

New York

Chicago

Richmond

Richmond

A t l a n t a

Boston

San F r a n c i s c o

P h i l a d e l p h i a

Kansas C i ty

F i r s t N a t i o n a l Banc8hares in Newton, I n c . , Newton, I l l i n o i s , e x t e n s i o n of t ime to F e b r a u r y 10, 1981, w i t h i n which to become a bank h o l d i n g company th rough the a c q u i s i t i o n of F i r s t N a t i o n a l Bank in Newton, Newton, I l l i n o i s . \J

J a c k s b o r o Na t iona l Bancsha re s , I n c . , J a c k s b o r o , Texas , e x t e n -s ion of t ime t o J a n u a r y 16, 1981, w i t h i n vrtiich to consummate the a c q u i s i t i o n of The J a c k s b o r o Na t iona l Bank, J a c k s b o r o , Texas . JL/

Key Banks I n c . , Albany, New York, e x t e n s i o n of t ime to December 26, 1980, w i t h i n which to e f f e c t t h e a c q u i s i t i o n of t h e suc -c e s s o r by merger to The N a t i o n a l Bank of N o r t h e r n New York, Water town, New York. JL/

S t a r k e County Bancorp, I n c . , Knox, I n d i a n a , e x t e n s i o n of t ime to November 1, 1980, w i t h i n which to become a bank h o l d i n g company th rough the a c q u i s i t i o n of 100 p e r c e n t of the v o t i n g s h a r e s of t h e s u c c e s s o r by merger t o Farmers Bank and T r u s t Company, Knox, I n d i a n a . \J

V i r g i n i a N a t i o n a l Banksha re s , I n c . , N o r f o l k , V i r g i n i a , e x t e n -s i o n of t ime w i t h i n which i t s wholly-owned s u b s i d i a r y , VNB Real E s t a t e Loan C o r p o r a t i o n , may a c q u i r e c e r t a i n a s s e t s , l e a s e s , and t h r e e o f f i c e s of VNB Mortgage C o r p o r a t i o n . \J

C e n t r a l F i d e l i t y Bank, N o r f o l k , V i r g i n i a , an inves tment i n bank p r e m i s e s . I f

Home Bank of G u n t e r s v i l l e , G u n t e r s v i l l e , Alabama, an i n v e s t -ment i n bank p r e m i s e s . JL_/

Te rmina t i on of r e g i s t r a t i o n by The P rospec t Company, H a r t f o r d , C o n n e c t i c u t . I f

Val l ey Bank of Nevada, Las Vegas, Nevada, e x t e n s i o n of t ime t o May 20, 1981, w i t h i n vdiich to e s t a b l i s h a branch in To nop ah , Nevada. JL/

Independent Bank and T r u s t Company, West T r e n t o n , New J e r s e y , r e q u e s t i n g permiss ion to d e c l a r e d i v i d e n d s fo r t he t w e l v e -month p e r i o d ending December 31 , 1980. J J

C i t i z e n s Bank of Larami , Larami, Wyoming, e x t e n s i o n of t ime to J a n u a r y 13, 1981, w i t h i n which to complete i t s member-s h i p in t h e F e d e r a l Reserve System. JL/

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


H.2 , 1980 No. 43 - 3 -


To E s t a b l i s h a Domestic Branch Pursuant to Sec t ion 9 of t h e Federa l Reserve Act

Approved P h i l a d e l p h i a Girard Bank, Bala Cynwyd, Pennsy lvan ia . To e s t a b l i s h o f f -

s i t e e l e c t r o n i c f a c i l i t i e s a t the 7-11 s t o r e s a t the fo l lowing l o c a t i o n s : 317 West County Line Road, Hatboro , Pennsy lvan ia ; 2711 East Road, Willow Grove, Pennsy lvan ia ; 3224 Byberry Road, P h i l a d e l p h i a , Pennsy lvan ia ; 171 Bishop Avenue, C l i f t o n He igh t s , Pennsy lvan ia ; 917 Lincoln Avenue, P rospec t Park , Pennsy lvan ia ; 1837 York Road, Abington, Pennsy lvan ia ; 220 East S t r e e t Road, Warminis te r , Penn-s y l v a n i a ; 932 S t r e e t Road, Southhampton, Pennsy lvan ia ; and 2364 S t r e e t Road, Bensalem, Pennsy lvan ia . 1/ & 2/

F l a g s h i p Bank of Kissimmee, Kissimmee, F l o r i d a . Branch t o be e s t a b l i s h e d a t 2 Doverplum Cen te r , Kissimmee, F l o r i d a . II 12/

Dearborn Bank and Trus t Company, Dearborn , Michigan. Branch to be e s t a b l i s h e d a t 3745 South Monroe, Dearborn, Wayne County, Michigan. 1/ & 2/

* * * * *

A t l a n t a

Chicago

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

Approved San Simi Va l l ey Bank, Simi Va l l ey , C a l i f o r n i a . I / & 2 / F r a n c i s c o

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

2/ A p p l i c a t i o n s u b j e c t to Community Reinvestment Act . The Community Reinvestment O f f i c e r of t h e 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 , 1980 No. 43 - 4


A p p l i c a t i o n s and N o t i f i c a t i o n s f o r I n t e r n a t i o n a l I n v e s t -ments and Other Ac t ions Pursuan t to S e c t i o n s 25 and 75(a) of the F e d e r a l Reserve Act and Sec t i ons 4 ( c ) ( 9 ) and 4 ( c ) ( 1 3 ) of t h e Bank Holding Company Act of 1956, as amended

Boston Approved

Shawmut Bank of Bos ton , N.A. , Boston, M a s s a c h u s e t t s : g r a n t s p e r m i s s i o n to amend A r t i c l e s " F i r s t " and ' T h i r d " of the A r t i c l e s of A s s o c i a t i o n of Shawmut I n t e r n a t i o n a l Corpo ra -t i o n to change i t s name to Shawmut Boston I n t e r n a t i o n a l Banking C o r p o r a t i o n and to change t h e l o c a t i o n of Edge ' s home o f f i c e from Boston , M a s s a c h u s e t t s to Miami, F l o r i d a .

San Bank of America N a t i o n a l T rus t and Sav ings A s s o c i a t i o n , 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 : g r a n t s p e r m i s s i o n to Bamerical

I n t e r n a t i o n a l F inance C o r p o r a t i o n , San F r a n c i s c o , C a l i -f o r n i a , t o i n c r e a s e i t s inves tment in Adela Inves tment Company, a Luxembourg C o r p o r a t i o n , by a c q u i r i n g 8 ,750 p r e f e r r e d s h a r e s of A d e l a .

San Crocker N a t i o n a l Bank, San F r a n c i s c o , C a l i f o r n i a : g r a n t s F r a n c i s c o p e r m i s s i o n to i n c r e a s e i t s inves tmen t in Adela I n v e s t -

ment Company, S . A . , a Luxembourg C o r p o r a t i o n , by a c q u i r i n g 2 ,000 p r e f e r r e d s h a r e s of A d e l a .

* * * * *

To O r g a n i z e , o r I n v e s t i n , a C o r p o r a t i o n Doing F o r e i g n Banking and Other F o r e i g n F i n a n c i n g Pur suan t t o S e c t i o n 25 o r 25(a ) of t h e F e d e r a l Reserve Act

Approved New York Banco de Venezue la , S . A . , C a r a c a s , Venezuela : g r a n t s c o n s e n t

to e s t a b l i s h an Edge Act C o r p o r a t i o n to be known as Banco de Venezuela I n t e r n a t i o n a l , Miami, F l o r i d a .

New York Skand inav i ska E n s k i l d a Banken, Stockholm, Sweden: g r a n t s consen t to e s t a b l i s h an Edge C o r p o r a t i o n in New York, New York t o be named Skand inav i ska Ensk i l da Banken I n t e r -n a t i o n a l C o r p o r a t i o n .


H.2 , lyou Mo. 43 - 5 -


Bos ton

Cleve land

Chicago

Chicago

Chicago

Chicago

Chicago

S t . Louis

Minneapo l i s

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

Approved F i r s t N a t i o n a l Vermont C o r p o r a t i o n , S p r i n g f i e l d , Vermont,

f o r approva l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of F i r s t N a t i o n a l Bank of Vermont, S p r i n g f i e l d , Vermont ( f o r m e r l y F i r s t Na t iona l Bank of S p r i n g f i e l d ) . J J & If

P i k e v i l l e N a t i o n a l C o r p o r a t i o n , P i k e v i l l e , Kentucky, f o r approva l t o a c q u i r e 100 p e r c e n t ( l e s s d i r e c t o r s 1 q u a l i f y i n g s h a r e s ) of t h e v o t i n g s h a r e s of P i k e v i l l e N a t i o n a l Bank & T r u s t Company, P i k e v i l l e , Kentucky. JL/ & 7J

Am i r u i n c . , Whi t i ng , I n d i a n a , tor app rova l to a c q u i r e 90 p e r c e n t of the v o t i n g s h a r e s of American T rus t and Sav ings Bank of Whi t ing , I n d i a n a , W h i t i n g , I n d i a n a . JV & If

B.O.Y. BANCORP, INC. , Y o r k v i l l e , I l l i n o i s , f o r approval t o a c q u i r e a t l e a s t 80 percen t of t h e v o t i n g s h a r e s of The Bank of Y o r k v i l l e Y o r k v i l l e , I l l i n o i s . 1/ & If

Oakwood Bancorp , I n c . , S p r i n g f i e l d , I l l i n o i s , fo r app rova l t o a c q u i r e 90 p e r c e n t of the v o t i n g s h a r e s of S t a t e Bank of Oakwood, Oakwood, I l l i n o i s . If & 2 /

SBC, I n c o r p o r a t e d , C o u n t r y s i d e , I l l i n o i s , f o r approva l t o a c q u i r e 80 pe rcen t of t h e v o t i n g s h a r e s of S t a t e Bank of C o u n t r y s i d e , Coun t rys ide (P.O. La Grange) , I l l i n o i s .

Shelby County B a n c s h a r e s , I n c . , H a r l a n , Iowa, f o r approva l to a c q u i r e 94 .5 percen t of t h e v o t i n g s h a r e s of The Shelby County S t a t e Bank, H a r l a n , Iowa. JL/ & 2J

Graves County B a n c s h a r e s , I n c . , Wingo, Kentucky, for approva l t o a c q u i r e 97 .6 p e r c e n t of the v o t i n g s h a r e s of The Bank of Wingo, Wingo, Kentucky. \ j & 2/

Badger B a n c s h a r e s , I n c . , Badger , Minneso ta , f o r approval t o a c q u i r e 84 .83 percen t of t h e v o t i n g s h a r e s of Badger S t a t e Bank, Badger , Minneso ta . If & 2f

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

2/ A p p l i c a t i o n s u b j e c t to Community Reinves tment Ac t . The Community Reinves tment O f f i c e r of t h e 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 t he l e n g t h of the comment p e r i o d .


H.2 , 1980 No. 43 6 -


Kansas C i ty

Kansas C i t y

Kansas C i t y

Kansas C i t y

Kanas C i t y

D a l l a s

Dal l a s

Eureka F i n a n c i a l C o r p o r a t i o n , W i c h i t a , Kansas , f o r approval to a c q u i r e 88 pe rcen t of t h e v o t i n g s h a r e s of The C i t i z e n s N a t i o n a l Bank in Eureka , E u r e k a , Kansas . \J & 2/

Pawnee B a n c s h a r e s , I n c . , Larned , Kansas , for approva l t o a c q u i r e a t l e a s t 80 p e r c e n t of the v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank and T r u s t Company in Larned , Larned , Kansas . J j & 2j

RKB, I n c . , W i c h i t a , Kansas , f o r approva l to a c q u i r e 80 p e r -cent o r more of t h e v o t i n g s h a r e s of N a t i o n a l Bank of W i c h i t a , W i c h i t a , Kansas . \J & 2/

Toronto F i n a n c i a l C o r p o r a t i o n , W i c h i t a , Kansas , for approva l to a c q u i r e 88 p e r c e n t of the v o t i n g s h a r e s of F i r s t Na t iona l Bank of T o r o n t o , Toron to , Kansas . 1/ & 2]

Weleetka B a n c o r p o r a t i o n , I n c . , Welee tka , Oklahoma, f o r ap-p rova l to a c q u i r e 100 percen t of t h e v o t i n g s h a r e s of Weleetka B a n c s h a r e s , I n c . , Welee tka , Oklahoma and i n d i r e c t l y a c q u i r e The S t a t e N a t i o n a l Bank of Welee tka , Welee tka , Oklahoma. JL/ & 2/

N o r t h s i d e F i n a n c i a l C o r p o r a t i o n , San Anton io , Texas , f o r ap-p rova l to a c q u i r e 100 percen t of t h e v o t i n g s h a r e s of N o r t h -s i d e S t a t e Bank, San Anton io , T e x a s . JL/ & 2j

S o u t h e a s t B a n c s h a r e s , I n c . , D a l l a s , Texas , for app rova l t o a c q u i r e 98 p e r c e n t of the v o t i n g s h a r e s ( 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 Commercial N a t i o n a l Bank of D a l l a s , D a l l a s , Texas . 1/ & 2/

* * * * *

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

Approved Chicago C r a w f o r d s v i l l e I n su rance Agency, I n c . , C r a w f o r d s v i l l e , Iowa,

f o r approva l t o r e t a i n 10.47 p e r c e n t of the v o t i n g s h a r e s of Peoples Sav ings Bank, C r a w f o r d s v i l l e , Iowa. JL/ & 2J

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

2j A p p l i c a t i o n s u b j e c t to Community Reinves tment A c t . The Community Reinves tment O f f i c e r of t h e 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 .


H. 2 , 1980 No. 43


Kansas C i t y Graham-Michael i s F i n a n c i a l C o r p o r a t i o n , W i c h i t a , Kansas , f o r app rova l to a c q u i r e 24 .9 pe rcen t of t h e v o t i n g s h a r e s of RKB, I n c . , W i c h i t a , Kansas and i n d i r e c t l y a c q u i r e Na t iona l Bank of W i c h i t a , W i c h i t a , Kansas . JL/ & 2/

Kansas C i t y S i e r r a P e t r o l e u m Co. , I n c . , W i c h i t a , Kansas , f o r approva l to a c q u i r e 2 4 . 9 pe rcen t of t h e v o t i n g s h a r e s of RKB, I n c . , W i c h i t a , Kansas , and i n d i r e c t l y a c q u i r e Na t iona l Bank of W i c h i t a , W i c h i t a , Kansas . 1/ & 2 /

* * * * *

Chicago

M i n n e a p o l i s

Kansas C i t y

To Expand a Bank Holding Company Pu r suan t to S e c t i o n 4 ( c ) ( 8 ) of t h e Bank Hold ing Company Act of 1956

Approved S e c u r i t y Bancorp , I n c . , Sou thga t e , Mich igan , f o r a p p r o v a l t o

a c q u i r e 100 p e r c e n t of t he v o t i n g s h a r e s of SecureData Corp. , Troy, Mich igan . If

Lakes ide C r e d i t C o . , I n c . , I s l e , Minneso ta , f o r approva l t o c o n t i n u e to engage i n o p e r a t i n g a g e n e r a l i n s u r a n c e agency i n a community wi th l e s s than 5 , 0 0 0 p o p u l a t i o n . 1/

Hometown F i n a n c e Company, C l i n t o n , Oklahoma, fo r app rova l t o c o n t i n u e to engage in i n d u s t r i a l loan company a c t i v i t i e s and mortgage loan o r i g i n a t i o n and s e r v i c i n g a c t i v i t i e s th rough a s u b s i d i a r y to be known as Hometown F inance Company, C l i n t o n , Oklahoma. 1/

Kansas C i t y Pawnee Banc s h a r e s , I n c . , Larned , Kansas , f o r approva l t o a c q u i r e c e r t a i n a s s e t s of Lanbank, I n c . , La rned , Kansas , and t h e r e b y engage i n d i r e c t l y i n the s a l e of g e n e r a l i n s u r a n c e in a community of l e s s t h a n 5 ,000 p o p u l a t i o n . JL/

Kansas C i t y The Walsh B a n c o r p o r a t i o n , I n c . , Plymouth, Minneso ta , f o r ap -p r o v a l to a c q u i r e 100 percen t of t h e v o t i n g s h a r e s of Walsh I n s u r a n c e Agency, Inc.", Plymouth, Minneso ta , a company engaged in t h e 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 crop h a i l i n s u r a n c e in Walsh, Co lo rado , a town of l e s s than 5 ,000 p o p u l a t i o n . 1/

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

2J A p p l i c a t i o n s u b j e c t to Community Reinvetment A c t . The Community Reinvetment O f f i c e r of t h e 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 .


H.2 , 1980 No. 43 8 -


Kansas C i t y Weleetka B a n c o r p o r a t i o n , I n c . , Welee tka , Oklahoma, f o r ap -p rova l to engage de novo in t h e s a l e of c r e d i t r e l a t e d i n s u r a n c e through Weleetka I n s u r a n c e Agency, I n c . , Welee tka , Oklahoma. 1/

Delayed Kansas C i t y P l a z a Management Company, B a r t l e s v i l l e , Oklahoma, 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 con-t i n u e to engage in t h e 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 i n s u r a n c e ) ( 1 0 / 2 2 / 8 0 ) 3 /

R e a c t i v a t e d 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 ( t h e s a l e of c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e p r o t e c t i n g r e a l and p e r -sonal p r o p e r t y s u b j e c t to a s e c u r i t y agreement w i t h 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 C e n t e r , I n c . to t h e e x t e n t p e r m i s s i b l e under a p p l i c a b l e S t a t e i n s u r a n c e laws and r e g u l a t i o n s ) a t 4480 Refugee Road, Columbus, Ohio, through i t s s u b s i d i a r y , 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 C e n t e r , I n c . ( 10 /24 /80 ) 3 /

P e r m i t t e d 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 (making or a c q u i r i n g , f o r i t s own account o r fo r t h e account of o t h e r s , commercial loans and o t h e r e x t e n s i o n s of c r e d i t i n c l u d i n g , but not l i m i t e d t o , t h e b u s i n e s s of f a c t o r i n g and a s s e t - b a s e d f i n a n c i n g ; and i n l e a s i n g p e r s o n a l o r r e a l p r o p e r t y o r a c t i n g as a g e n t , b roker or a d v i s e r in l e a s i n g such p r o p e r t y and s e r -v i c i n g such l e a s e s s u b j e c t to a l l of the q u a l i f i c a t i o n s s p e c i f i e d in 12 C.F.R. 2 2 5 . 4 ( a ) ( 6 ) ( a ) and (b) where t h e l e a s e s s e r v e 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 t h e l e s s e e of t h e p r o p e r t y ) a t 2 H a r r i s o n P l a z a , H a r r i s o n , New York, t h rough i t s s u b s i d i a r y , C i t i c o r p I n d u s t r i a l C r e d i t , I n c . ( 1 0 / 2 0 / 8 0 ) 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 &e novo a c t i v i t i e s ( t h e s a l e of c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e p r o t e c t i n g r e a l and p e r -sona l p r o p e r t y s u b j e c t to a s e c u r i t y agreement wi th 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 C e n t e r , I n c . t o the

\J A p p l i c a t i o n p roces sed on b e h a l f of the Board of Governors under d e l e g a t e d a u t h o r i t y .

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


I

H.2, 1980 No. 43 9 -


ex ten t pe rmiss ib le under app l i cab le S ta t e insurance laws and r e g u l a t i o n s ) a t 4480 Refugee Road, Columbus, Ohio, through i t s s u b s i d i a r y , C i t i co rp Person- to -Person F inanc ia l Cen te r , I nc . (10/25/80) 3/

Richmond Maryland Nat ional Corpora t ion , Bal t imore , Maryland, no t i f i -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 (commer-c i a l lending opera t ions inc lud ing , but not l imi ted 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 rv i c ing commercial loans for a f f i l i a t e d or non-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 , co rpora t ions or o ther e n t i t i e s ; and a c t i n g as adviser or broker in commercial lending) a t 1132 Hamilton S t r e e t , Allentown, Pennsy lvan ia , through i t s subs id i a ry , Maryland Nat ional I n d u s t r i a l Finance Corpora t ion (10/26/80) 3/

A t l an ta F i r s t Alabama Bancshares , I n c . , Montgomery, Alabama, 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 ( ac t i ng as agent or broker of insurance in the sa le of c r e d i t l i f e and acc iden t and h e a l t h insurance d i r e c t l y r e l a t e d to the ex-t e n s i o n of c r e d i t by a p p l i c a n t ' s s u b s i d i a r y banks, F i r s t Alabama Bank of Sumter County, F i r s t Alabama Bank of Ta l ladega County, N.A. and F i r s t Alabama Bank of Chi l ton County, and in the sa le of proper ty and casua l ty insurance i n c l u d i n g s i n g l e and dual i n t e r e s t insurance d i r e c t l y r e l a t e d t o extensions of c r e d i t by such s u b s i d i a r y banks) in L i v i n g s t o n , Talladega and Thorsby, Alabama, through a s u b s i d i a r y , FAB Agency, I n c . (10/23/80) 3/

San Independent Bankshares Corpora t ion , San R a f a e l , C a l i f o r n i a , Franc isco 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

( o r i g i n a t i n g , s e l l i n g and s e r v i c i n g r e a l e s t a t e loans of a l l types f o r i t s own account and f o r the accounts of o the r s ) a t 1330 Fulton Road, Santa Rosa, C a l i f o r n i a , ~ through i t s subs id i a ry , Independent Bankers Mortgage Corpora t ion (10/20/80) 3/

San Secur i ty P a c i f i c Corporat ion, Los Angeles, C a l i f o r n i a , no-Francisco 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 a c q u i r i n g , f o r i t s own account or f o r the account of o t h e r s , loans and Extensions of c r e d i t inc lud ing mak-ing consumer ins ta l lmen t personal loans , purchasing con-sumer i n s t a l l m e n t s a l e s f inance c o n t r a c t s , making loans to small bus inesses and o ther extens ions of c r e d i t such

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 behalf of t h e Board of Governors under delegated a u t h o r i t y .


H.2, 1980 No. 43 - 1 0 -


as would be made by a f a c t o r i n g company or a consumer f i nance company; and a c t i n g as broker or agent for t he s a l e of c r e d i t l i f e and c r e d i t acc iden t and h e a l t h i n s u r -ance) a t 3031 Headland Dr ive , S.W., A t l a n t a , Georgia , through i t s s u b s i d i a r y , S e c u r i t y P a c i f i c Finance Corp. (10/23/80) 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 ranc i sco 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 ( a c t i n g

as agent fo r the s a l e of c r e d i t l i f e and d i s a b i l i t y i n -surance inc lud ing mortgage redemption insurance d i r e c t l y r e l a t e d to ex tens ions of c r e d i t or the p rov i s ion of o t h e r f i n a n c i a l s e r v i c e s by i t or i t s s u b s i d i a r i e s ) in San F r a n c i s c o , C a l i f o r n i a , ( s e rv ing C a l i f o r n i a , Nevada and Utah) through i t s s u b s i d i a r y , Wel ls Fargo Insurance Se rv i ce s (10 /24 /80) 2 /

* * * * *

To Expand a Bank Holding Company Pursuant to Sec t ion 4 ( c ) ( 1 2 ) of the Bank Holding Company Act of 1956

Permi t t ed Chicago Berksh i re Hathaway I n c . , New Bedford, Massachuse t t s , n o t i -

f i c a t i o n of i n t e n t to d i r e c t l y o r i n d i r e c t l y through i t s nonbanking s u b s i d i a r i e s a c q u i r e more than 5 percent of t he ou t s t and ing vo t ing s tock of Trans Union Corpora t ion , L i n c o l n s h i r e , I l l i n o i s (10/25/80) 3J

3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) 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 de lega ted a u t h o r i t y .


H.2 , 1980 No. 43 - 11 -

APPLICATIONS RECEIVED

To E s t a b l i s h a Domestic Branch Pursuan t to S e c t i o n 9 of t h e F e d e r a l Reserve Act

P h i l a d e l p h i a Gi ra rd Bank, Bala Cynwyd, P e n n s y l v a n i a . To e s t a b l i s h o f f -s i t e e l e c t r o n i c f a c i l i t i e s a t t h e U n i v e r s i t y P l a z a , 3901 Market S t r e t , P h i l a d e l p h i a , P e n n s y l v a n i a and a t the Shop n Bag, s o u t h e a s t c o r n e r , Cas to r and Sedgley Avenues, P h i l a d e l p h i a , P e n n s y l v a n i a . 2/

Richmond Union T r u s t Company of Maryland, B a l t i m o r e , Maryland. Branch to be e s t a b l i s h e d a t Shady Grove Road near i t s i n t e r s e c t i o n wi th Route 355, Montgomery County, Mary land . 2/

* * * * *

To E s t a b l i s h a U.S. Branch of an Edge Act C o r p o r a t i o n P u r s u a n t t o S e c t i o n 25(a) of t h e F e d e r a l Reserve Act

New York C i t i b a n k , N.A. , New York, New York: r e q u e s t s consen t t o open a branch in D a l l a s , Texas of i t s wholly-owned Edge C o r p o r a t i o n , C i t i b a n k I n t e r n a t i o n a l , Miami, F l o r i d a .

New York I r v i n g T r u s t Company, New York, New York: r e q u e s t s c o n s e n t to e s t a b l i s h de novo b ranches of Miami Edge in A t l a n t a , Ch icago , D a l l a s and t h e Cayman I s l a n d s .

* * * * *

To O r g a n i z e , o r I n v e s t i n , a C o r p o r a t i o n Doing F o r e i g n Banking and Other F o r e i g n F i n a n c i n g P u r s u a n t t o S e c t i o n 25 or 25(a ) of t h e F e d e r a l Rese rve Act

New York The Bank of New York, New York, New York: r e q u e s t s consen t to e s t a b l i s h a de novo Edge C o r p o r a t i o n in Miami, F l o r i d a to be named "The Bank of New York I n t e r n a t i o n a l , I n c o r p o -r a t e d 1 ' , t o e s t a b l i s h b ranches in Chicago, I l l i n o i s and Hous ton , Texas .

2? A p p l i c a t i o n s u b j e c t to Community Reinves tment Ac t . The Community Reinves tment O f f i c e r of t h e 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 .


H.2 , 1980 No. 43 - 1 2 -

APPLICATIONS RECEIVED-Continued

New York Chase Manhat tan Bank, N .A . , New York, New York: r e q u e s t s consen t to e s t a b l i s h a de novo banking Edge Act Corpora-t i o n to be l o c a t e d in Newark, De laware , t o be named "Chase Bank I n t e r n a t i o n a l " , to e s t a b l i s h branches i n Chicago , Hous ton , Los Angeles and Miami.

* * * * *

A t l a n t a

Chicago

Chicago

S t . Lou i s

Minneapo l i s

Minneapo l i s

San F r a n c i s c o

To Form a Bank Holding Company Pu r suan t to S e c t i o n 3 ( a ) ( 1 ) of t h e Bank Holding Company Act of 1956

The F i r s t N a t i o n a l Bank of Palm Beach I n c o r p o r a t e d , Palm Beach, F l o r i d a , fo r app rova l to a c q u i r e 100 percen t of the v o t i n g s h a r e s of The F i r s t N a t i o n a l Bank in Palm Beach, Palm Beach, F l o r i d a . 2 /

C a r t e r Lake Inves tment C o . , C a r t e r Lake, Iowa, f o r approval to a c q u i r e a t l e a s t 80 pe rcen t of t h e v o t i n g s h a r e s of F i r s t Bank and T r u s t of C a r t e r Lake, C a r t e r Lake, Iowa. 2/

RANDALL-STORY BANCSHARES, INC. , S t o r y C i t y , Iowa, f o r ap-p rova l to a c q u i r e a t l e a s t 58 pe rcen t of t h e v o t i n g s h a r e s of Randa l1 -S to ry S t a t e Bank, S t o r y C i t y , Iowa. 2/

Clement B a n c s h a r e s , I n c . , P l a i n v i e w , Arkansas , f o r approval to a c q u i r e a t l e a s t 80 .0 percen t of t h e v o t i n g s h a r e s of F i r s t S t a t e Bank, P l a i n v i e w , Arkansas . 2j

Cameron Inves tmen t Company, I n c . , Pa rk F a l l s , Wiscons in , f o r approva l t o a c q u i r e 84 p e r c e n t of the v o t i n g s h a r e s of Bank of Cameron, Cameron, Wiscons in . 2/

VEIS BANKSHARES, INCORPORATED, Scobey, Montona, f o r approval to a c q u i r e a t l e a s t 91 percen t of t h e v o t i n g s h a r e s of The C i t i z e n s S t a t e Bank of Scobey, Scobey, Montana. 2j

P a c i f i c Western B a n c s h a r e s , San J o s e , C a l i f o r n i a , f o r ap-prova l t o a c q u i r e 100 p e r c e n t of the v o t i n g s h a r e s of P a c i f i c V a l l e y Bank, San J o s e , C a l i f o r n i a . 2/

2 / A p p l i c a t i o n s u b j e c t to Community Reinves tment A c t . The Community Reinves tment O f f i c e r of t h e 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 t he l e n g t h of the comment p e r i o d .


H . 2 , 1980 No. 43 - 13 -


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

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 ( t h e p u r c h a s i n g for i t s own account and s e r v i c i n g s a l e s f i n a n c e 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 a c c i d e n t and h e a l t h , d e c r e a s i n g o r l e v e l ( i n the case of s i n g l e payment l oans ) term l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s , as r e q u i r e d ; t n 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 p e r s o n a l p r o p e r t y , t h e p roceeds of which may be f o r pu rposes o t h e r than p e r -s o n a l , f a m i l y o r househo ld usage i n c l u d i n g , but no t l i m i t e d t o , t h e e x t e n s i o n s of l oans to d e a l e r s f o r the f i n a n c i n g of i n v e n t o r y ( f l o o r p l a n n i n g ) and working c a p i t a l p u r p o s e 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 i n s u r a n c e may be u n d e r w r i t t e n by Family Guardian L i f e I n s u r a n c e Company, an a f f i l i a t e of 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 C e n t e r , I n c . ) a t 5801 Eas t 4 1 s t S t r e e t , T u l s a , Oklahoma, t h rough i t s s u b s i d i a r y , 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 C e n t e r , I n c . ( 1 0 / 2 1 / 8 0 ) V

New York M i d l a n t i c Banks I n c . , West Orange, New J e r s e y , n o t i f i c a -t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( ( 1 ) mak-ing o r a c q u i r i n g , f o r i t s own account o r f o r the account of o t h e r s , loans and o the r e x t e n s i o n s of c r e d i t as a f a c t o r i n g company; (2) l e a s i n g p e r s o n a l p r o p e r t y and equipment on a f u l l payment b a s i s , o r a c t i n g as a g e n t , b r o k e r , o r a d v i s e r in the l e a s i n g t h e r e o f ; and ( 3 ) s e r -v i c i n g l o a n s , and o the r e x t e n s i o n s of c r e d i t for any p e r s o n ) a t 230 South Tyron S t r e e t , C h a r l o t t e , Nor th C a r o l i n a , th rough i t s s u b s i d i a r y , M i d l a n t i c Commercial Co. ( 1 0 / 2 0 / 8 0 ) 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 ( t h e p u r c h a s i n g fo r i t s own account and s e r v i c i n g of s a l e s f i n a n c e c o n t r a c t s ; t he s a l e of c r e d i t r e l a t e d l i f e and a c c i d e n t and h e a l t h , d e c r e a s i n g o r l e v e l ( i n the case of s i n g l e payment l o a n s ) te rm l i f e i n s u r a n c e by l i c e n s e d a g e n t s or b r o k e r s as r e q u i r e d ; the s a l e of c r e d i t r e l a t e d p r o p e r t y and c a s u a l t y i n s u r a n c e p r o t e c t i n g r e a l and p e r s o n a l p rop-

3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) n o t i f i c a t i o n p roces sed 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, 1980 No. 43 - 1 4 -


e r t y s u b j e c t to a s e c u r i t y agreement wi th Nationwide F i n a n c i a l Corpora t ion and to the ex ten t pe rmis s ib 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 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 p r o p e r t y , the proceeds of which may be f o r purposes other than p e r s o n a l , family o r household usage i n c l u d i n g , but not l imi ted t o , the ex tens ion of loans to dea l e r s for the f i nanc ing of inven-to ry ( f l o o r p lann ing) and working c a p i t a l purposes ; the I r v i n g and Lubbock o f f i c e s engage in t h e making or acqu i r ing of loans and o t h e r ex tens ions of c r e d i t , secured or unsecured , for consumer and o the r purposes ; C i t i c o r p i s applying to expand the s e r v i c e area of a l l t he se o f f i c e s to inc lude the e n t i r e S t a t e of Texas and to expand the a c t i v i t i e s of the Houston o f f i c e so t h a t i t w i l l a l so engage in the making or a c q u i r i n g of loans and other ex tens ions of c r e d i t , secured or unsecured , f o r consumer and o the r purposes) a t 1425 West P i o n e e r , S u i t e 255, I r v i n g ; Lubbock Square O f f i c e Tower, 4630 50th S t r e e t , S u i t e 406 , Lubbock; and 12400 1-45 & Greens Road, S u i t e 209, Houston, a l l in Texas, through i t s s u b s i d i a r y , Na t ion -wide F i n a n c i a l Corpora t ion (10/21/80) 3/

Cleveland Huntington Bancshares Corpo ra t i on , Columbus, 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 (under -w r i t i n g , a s r e i n s u r e r , 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 su rance ) a t 1421 East Thomas Road, Phoenix, Ar izona , through a s u b s i d i a r y , Sc io to L i f e Insurance Company (10/24/80) 3/

Richmond Equ i t ab l e Bancorpora t ion , Ba l t imore , Maryland, f o r approval to expand the r e i n s u r a n c e unde rwr i t i ng a c t i v i t i e s of i t s s u b s i d i a r y , Equiban L i f e Insurance Company, Phoenix, Ar izona , to inc lude c r e d i t l i f e i n su rance p o l i c i e s sold in connec t ion wi th ex tens ions of c r e d i t by the hold ing company's s u b s i d i a r i e s i n V i rg in i a and North C a r o l i n a .

Chicago Banko, I n c . , Osceo la , Iowa, f o r approval to r e t a i n i t s a c t i v i t y as a g e n t , in the s a l e of c r e d i t l i f e , acc iden t and h e a l t h insurance made in connect ion wi th ex tens ions of c r e d i t by Osceola S t a t e Bank & Trus t Co . , Osceola , Iowa.

37 4 ( c ) ( 8 ) o r 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 lega ted a u t h o r i t y .


H.2, 1980 No. 43 - 15


San F ranc i sco

BankAmerica C o r p o r a t i o n , 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 i n de novo a c t i v i t i e s (making o r a c q u i r i n g , f o r i t s own account loans and o t h e r ex ten-s i o n s of c r e d i t such as would be made or acquired by a f i n a n c e company; s e r v i c i n g loans and o t h e r ex tens ions of c r e d i t ; and t h e o f f e r i n g of c r e d i t r e l a t e d l i f e and c r e d i t r e l a t e d a c c i d e n t and h e a l t h and c r e d i t r e l a t e d p rope r ty i n s u r a n c e ; such a c t i v i t i e s would i n c l u d e , but not be l im i t ed t o , making loans and o the r ex tens ions of c r e d i t to consumers as we l l as small b u s i n e s s e s , purchas ing i n s t a l l m e n t s a l e s f inance c o n t r a c t s , making loans secured by r e a l and pe r sona l p rope r ty ; and o f f e r i n g l i f e , a c c i -dent and h e a l t h , and p r o p e r t y insu rance 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 made or acqui red by F inance -America C o r p o r a t i o n , a Delaware Corpora t ion ) a t 205 F i r s t Avenue, Rock F a l l s , I l l i n o i s , through i t s i n d i r e c t s u b s i d i a r y , FinanceAmerica Corpora t ion (a Delaware Corpora t ion) (10/23/80) 3/

* * * * *

REPORTS RECEIVED

None

* * * * *

PETITIONS FOR RULEMAKING

None

3/ 4 ( c ) ( 8 ) o r 4 ( c ) ( 1 2 ) 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 de lega ted a u t h o r i t y .
