H.2 Actions of the Board, its Staff, and the Federal ...
ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE
FEDERAL RESERVE SYSTEM
H.2, 1986 No. 11
Actions of the Board Applications and reports Received For the W e e k Ended March 15, 1986
APPLICABLE RESERVE BANK
ACTIONS OF THE BOARD
Statement by Vice Chairman Preston Martin before the Senate Committee on Banking, Housing, and Urban Affairs on problems experienced by banks in our agricultural communities and on proposals to ease the strains resulting from these problems, March 11, 1986.
Philadelphia
New Tripoli Bancorp, Inc., New Tripoli,> Pennsylvania -- extension of time to July 10, 1986, within which to consummate the formation of a bank holding company. 1/
Atlanta
First Polk Bankshares, Inc., Cedartown, Georgia -- extension of time to May 26, 1986, within which to become a bank holding company through acquisition of First National Bank of Polk County. 1/
Atlanta
Peoples National of LaFollette Financial Corp., LaFollette, Tennessee -- extension of time to May 16, 1986, within which to acquire The Peoples National Bank of LaFollette. 1/
Atlanta
First Commercial Financial Corporation, Bradenton, Florida -- extension of time to May 4, 1986, within which to become a bank holding company through acquisition of First Commercial Bank of Manatee County. 1/
Atlanta
Boca Bank, Boca Raton, Florida -- extension of time to June 16, 1986, within which to merge with Boca Interim Bank. 1/
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of Governors under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H.2, 1986 No. 11
2
ACTIONS OF TEE BOARD - Continued
Atlanta
National City Bank, Coral Springs, Florida, proposed merger with National City Interim Bank -- report to the Comptroller of the Currency on competitive factors. 1/
Atlanta
Cullman Bancshares, Inc., Cullman, Alabama -- extension of time to May 27, 1986, within which to become a bank holding company by acquiring Peoples Bank of Cullman County. 1/
Atlanta
Culverhouse, Sr., Hugh F. -- extension of time to June 29, 1986, within which to acquire additional shares of Florida Commercial Banks, Inc., Miami, Florida. 1/
Chicago
Oak Brook Bank, Oak Brook, Illinois, proposed acquisition of assets and assumption of the liabilities of First National Bank and Trust Company of Oak Brook (name to be changed to First Oak Brook Bank) -- report to the Comptroller of the Currency on competitive factors. 1/
Chicago
First Farmers National Bark of Knoxville, Knoxville, Illinois, proposed merger with Bank of Galesburg, Galesburg, Illinois, under the charter of First Farmers National Bank of Knoxville and title of First Midwest Bank/Knoxville County, National Association -- report to the Comptroller of the Currency on competitive factors. 1/
Chicago
Cloverdale Bank Corporation, Cloverdale, Indiana -- extension of time to June 2, 1986, within which to become a bank holding company through the acquisition of 100 percent of the voting shares of The First National Bank of Cloverdale. 1/
Chicago
First Illini Bancorp, Inc., Galesburg, Illinois -- extension of time to June 22, 1986, within which to acquire 100 percent of the voting shares of Madison Park Bank, Peoria, Illinois. 1/
St. Louis
Dent County Bank, Salem, Missouri, proposed merger with Bank of Bunker, Bunker, Missouri -- report to the Federal Deposit Insurance Corporation on competitive factors. 1/
Kansas City
First National Bank - North in Grand
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of Gov e r n o rs under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H.2, 1986 No. 11
3
ACTIONS OF THE BOARD - Continued
Junction, Grand Junction, Colorado, proposed merger with First National Bank in Grand Junction, under the charter and title of the latter -- report to the Comptroller of the Currency on competitive factors. 1/
Kansas City
York State Bank and Trust Company, York, Nebraska, proposed merger with Gresham State Bank, Gresham, Nebraska, under the charter and title of the former -- report to the Federal Deposit Insurance Corporation on competitive factors. 1/
Dallas
FWNB Bancshares, Inc., Carrollton, Texas -- extension of time to June 22, 1986, within which to acquire First Western National Bank of Mesquite, Mesquite, Texas. 1/
Dallas
Benton Capital Corporation, Benton, Louisiana -- extension of time to acquire East River Bancshares, Inc. 1/ Denied
Dallas
Texas Commerce Bancshares, Inc., Houston, Texas -- extension of time to June 1, 1986, within which to acquire Texas Commerce Financial Services, Inc. 1/
Dallas
Marfa Production Credit Association, Marfa, Texas -- deregistration statement. 1/
Dallas
First Hawaiian, Inc., Honolulu, Hawaii -- extension of time to April 1987, within which to divest certain property. 1/
San Francisco
Valley West Bancorp, Springfield, Oregon -- extension of time to August 31, 1986, within which to divest shares of a certain property. 1/
San Francisco
Valley National Corporation, Phoenix, Arizona -- extension of time to June 12, 1986, for Valley National Financial Services Company of California to commence business. 1/
*****
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of Governors under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H . 2, 1986 No. 11
4
ACTIONS OF THE BOARD - Continued
To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act
Approved
Philadelphia
Laurel Bank, Ebensburg, Pennsylvania -- to establish a Remote Service Facility at Sheehan's Mini-Market, 926 Second Street, Cresson, Cambria County, Pennsylvania. 1/ (3/12/86)
* * * * *
Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978
Approved
St. Louis
Dixie Bancshares, Inc., Dukedom, Tennessee. 1/ (3/13/86)
Kansas City
Commercial Bankstock, Inc., Oklahoma City, Oklahoma. 1/ (3/14/86)
Kansas City
Val Cor Bancorporation, Inc., Cortes, Colorado. If (3/14/86)
* * * * *
To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act
Approved
Chicago
B.N.S. Bank, Northbrook, Illinois. 1/ (3/11/86)
Dallas
Bank of Troy, Troy, Texas, a proposed new bank. 1/ (3/14/86)
Dallas
Bank of Austin, Austin, Texas, a proposed new bank. 1/ (3/13/86)
*****
Chicago
To Merge Pursuant to Section 1 8 (c) of the Federal Deposit Insurance Act
Approved
Bank of the North Shore, Northbrook, Illinois
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of Gov e r n o r s under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H .2 , 1986 N o. 11
5
ACTIONS OF THE BOARD - Continued
-- to merge with B.N.S. Bank, Northbrook, Illinois.' 1/ (3/11/86)
*****
Applications and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 25(a) of the
Federal Reserve Act and Sections 4(c)(9), 4 ( c ) (13), and 4(c) (14) of the Bank Holding Company Act of 1956, as amended
Approved
San Francisco
Bank of America National Trust and Savings Association, San Francisco, California -grants consent to make an additional investment, directly or indirectly, in BA Australia Limited ("BAAUL"), Sydney, Australia. (3/12/86)
San Francisco
Bank of America NT&SA, San Francisco, California -- grants consent to increase its investment in Banco Colombo Americano, Bogota, Colombia. (3/12/86)
San Francisco
Security Pacific Corporation, Los Angeles, California -- grants consent to increase its ownership interest in Hoare Govett Limited, London, England. (3/13/86)
* * * * *
Forty-Five Day Notification Period Allowed to Expire
San Francisco
Security Pacific Corporation, Los Angeles, California -- no objection to make an
indirect investment in Security Pacific Bank
(France) S.N.C., Paris, France. (3/13/86) *****
To Form a Bank Holding Company Pursuant to Section 3 ( a ) (1) of the Bank Holding Company Act of 1956
Returned
Atlanta
North Georgia Bancshares, Inc., Canton, Georgia -- for approval to acquire 100 percent of the voting shares of North Georgia Savings & Loan Association, Inc., Canton, Georgia. (3/12/86)
Chicago
Ossian Financial Services, Inc., Ossian,
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of Governors under delecrated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H.2, 1986 No. 11
6
ACTIONS OF THE BOARD - Continued
Indiana -- for approval to acquire 100 percent of the voting shares of Ossian State Bank, Ossian, Indiana. (3/11/86)
Dallas
Fredoria Bancshares, Inc., Nacogdoches, Texas -- for approval to acquire 100 percent of the voting shares of Fredonia State Bank, Nacogdoches, Texas. (3/19/86)
Dallas
Northwest Crossing Bancshares, Inc., Houston, Texas -- for approval to acquire 100 percent of the voting shares of Northwest Crossing National Bank, Houston, Texas. (3/19/86)
Approved
Philadelphia
Fleetwood Bank Corporation, Fleetwood, Pennsylvania -- for approval to acquire 100 percent of the voting shares of The First National Bank in Fleetwood, Fleetwood, Pennsylvania. 1/ (3/12/86)
Richmond
First Union Corporation, Charlotte, North Carolina -- for approval to acquire 100 percent of the voting shares of Citizens DeKalb Bank, Clarkston, Georgia. 1/ (2/14/86)
Atlanta
NKB, Inc., North Miami Beach, Florida -- for
approval to acquire 100 percent of the voting
shares Miami
of Sky Beach,
lake Flor
Ban ida
casnhdari
en sd,i
r
eInc ct .l y,
North The
Skylake State Bank, North Miami Beach,
Florida. (3/12/86)
Chicago
First United Bancorp, Franklin, Indiana -- for approval to acquire 100 percent of the voting shares of Franklin Bank and Trust Company, Franklin, Indiana. 1/ (3/11/86)
Chicago St. Louis
North Shore Bancorp, Inc., Northbrook, Illinois -- for approval to acquire 100 percent of the voting shares (less directors' qualifying shares) of the successor by merger to the Bank of the North Shore, Northbrook, Illinois. 1/ (3/11/86)
Baker Financial Corporation, Pocahoutas, Arkansas -- for approval to acquire at least 80 percent of the voting shares of Planters
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n o r s under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H.2, 1986 No. 11
7
ACTIONS OF THE BOARD - Continued
and Stockmen Bank, Pocahontas, Arkansas. 1/ (3/14/86)
San Francisco
Overseas Finance Holdings Proprietary Limited, Melbourne, Australia; Ormside Proprietary Limited, Melbourne, Australia; Aylworth Proprietary Limited, Melbourne, Australia; Costa Mesa Limited, London, England; Costa Mesa Holdings N.V., Curacao, Netherlands Antilles; Citizens Financial Holdings B.V., Amsterdam, Netherlands; and Citizens Holdings, Brea, California -- for approval to acquire at least 80 percent of the voting shares of Citizens Bank of Costa Mesa, Costa Mesa, California. (3/12/86)
Denied
Dallas
Texstar Financial Corporation, Inc., Azle, Texas -- for approval to acquire 99.9 percent of the voting shares of First National Bank of Azle, Azle, Texas. (3/12/86)
*****
To Expand a Bank Holding Company Pursuant to Section 3 ( a ) (3) of the Bank Holding Company Act of 1956
Approved
Atlanta
CB&T Rancshares, Inc., Columbus, Georgia -- for approval to acquire 100 percent of the voting shares of Bank of Coweta, Newnan, Georgia. 1/ (3/14/86)
St. Louis
First Kentucky National Corporation, Louisville, Kentucky -- for approval to acquire 100 percent of the voting shares of Central Bancorp, Inc., and indirectly Central Bank and Trust Company, both in Owensboro, Kentucky. 1/ (3/14/86)
Dallas
Ruston Bancshares, Inc., Ruston, Louisiana -- for approval to acquire 100 percent of the voting shares of Morehouse Bancshares, Inc., Bastrop, Louisiana and indirectly The Bank of Morehouse, Bastrop, Louisiana. 1/ (3/14/86)*
*****
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o vernors under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
H.2, 1986 No. 11
8
ACTIONS OF THE BOAHD - Continued
To Expand a Bank Holding Company Pursuant to Section 3 ( a ) (5) of the Bank Holding Company A ct o f 1956
Approved
Atlanta
Florida National Banks of Florida, Inc., Jacksonville, Florida -- for approval to merge with Citrus Banking Corporation, Tampa, Florida, and indirectly acquire Citrus Park Bank, Tampa, Florida. 1/ (3/14/86)
*****
To Expand a Bank Holding Company Pursuant to Section 4 ( c ) (8) of the Bank Holding Company A ct of 1956
Returned
Philadelphia
Independence Bancorp, Inc., Perkasie, Pennsylvania -- for approval to acquire Independence Abstract, Inc., Rockledge, Pennsylvania and thereby engage de novo in the sale of title insurance. (3/17/86)
Atlanta
North Georgia Bancshares, Inc., Canton, Georgia -- for approval to engage in general insurance activities in a place with a population not exceeding 5,000 persons through the acquisition of N.G.B.S. Investments, Inc., Canton, Georgia. (3/12/86)
Chicago
Unibancorp, Inc., Chicago, Illinois -- to engage de novo (discount securities brokerage activities including certain securities credit and incidental activities) through its wholly-owned subsidiary, Unibanc Brokerage Services, Inc., Chicago, Illinois. (3/12/86)
Dallas
Haleco Bancshares, Inc., Plainview, Texas -- for approval to acquire 100 percent of the voting shares of First Mortgage Services & Invest Inc., Plainview, Texas. (3/14/86)
Approved
New York
The Bank of New York Company, Inc., New York, New York -- for approval to acguire 50.1 percent of RMJ Securities Corp., New York, New York and thereby engage in acting as
1/ A p p l i c a t i o n p r o c e s s e d on b e h a l f of the B o a r d of G o v e r n ors under delegated authority.
Digitized for FRASER Federal Reserve Bank of St. Louis
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