H.2 Actions of the Board, its Staff, and the Federal ...

[Pages:13]H.2 1973 No. 41 District

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ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on During the Week Ending October 13, 1973

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

Received Union Bank, Los Angeles, California

*****

Date 10-5-73

To Withdraw from Membership in the Federal Reserve

System Without a Six-Month Notice as Prescribed by

Section 9 of the Federal Reserve Act

Received

11

American State Bank, Lubbock, Texas

*****

To Establish a Domestic Branch Pursuant to

Section 9 of the Federal Reserve Act

Received

1

Cape Ann Bank and Trust Company, Gloucester, Massachusetts.

Branch to be established at the Rockport Shopping

Center, Railroad Avenue, Rockport.

2

The County Trust Company, White Plains, New York. Branch

to be established at the Northeast corner of the

intersection of State Route 82 and Lake Walton Road

(Unincorporated area) Town of East Fishkill, County

of Dutchess.

5

First Virginia Bank of Roanoke Valley, Roanoke, Virginia.

Branch to be established at 6434 Peters Creek Road, N.W.,

Roanoke County.

Digitized for FRASER Federal Reserve Bank of St. Louis

Received Continued United California Bank, Los Angeles, California. Branch

to be established in the vicinity of the intersection of California and Cherry Streets, City and County of San Francisco.

* ****

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

Approved Mellon Bank, National Association, Pittsburgh, Pennsylvania

branch in Tokyo, Japan.

*****

On H.2 #40 the following application was typed incorrect. Below is the correct wording:

Thirty Day Notice of Intention to Establish an Additional Branch in a Foreign Country

Received The First National Bank of Chicago, Chicago:

branch in Antwerp, Belgium. * ****

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

Approved The Chase Manhattan Bank National Association, New York,

New York: to organize a corporation in Chicago, Illinois to be known as "Chase Manhattan International Banking Corporation (Chicago)

*****

Digitized for FRASER Federal Reserve Bank of St. Louis

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

Received First National Cincinnati Corporation, Cincinnati,

Ohio, for prior approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of the successor by merger to The First National Bank of Cincinnati, Cincinnati, Ohio.

First Odgen Corporation, Naperville, Illinois, for prior approval to acquire 100 per cent (Less directors1 qualifying shares) of the voting shares of the successor by merger to Bank of Naperville, Naperville, Illinois.

Approved First Pratt Bankshares, Inc., Pratt, Kansas, for

prior approval to acquire 80 per cent or more of the voting shares of First National Bank in Pratt, Pratt, Kansas.

Quindaro Bancshares, Inc., Kansas City, Kansas, for prior approval to acquire 80.1 per cent of the voting shares of The Quindaro State Bank, Kansas City, Kansas.

* ****

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

Received First Bancorp of N.H., Inc., Exeter, New Hampshire,

for prior approval to acquire 80 per cent or more (less directorsT qualifying shares) of the voting shares of Concord National Bank, Concord, New Hampshire.

First Bancorp of N.H., Inc., Exeter, New Hampshire9 for prior approval to acquire 80 per cent or more (less directors' qualifying shares) of the voting shares of Laconia Peoples National Bank & Trust Company, Laconia, New Hampshire.

Digitized for FRASER Federal Reserve Bank of St. Louis

Received Continued First Bancorp of N.H., Inc., Exeter, New Hampshire,

for prior approval to acquire 80 per cent or more (less directors1 qualifying shares) of the voting shares of The Merchants National Bank of Manchester, Manchester, New Hampshire.

State Street Boston Financial Corporation, Boston, Massachusetts, for prior approval to acquire 100 per cent of the voting shares of Chatham Trust Company, Chatham, Massachusetts.

BancOhio Corporation, Columbus, Ohio, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of The Ohio State Bank of Medina, Medina, Ohio.

Community Banks of Florida, Inc., Seminole, Florida, for prior approval to acquire 90 per cent or more of the voting shares of Clearwater Mall Community Bank, Clearwater, Florida.

Ellis Banking Corporation, Bradenton, Florida, for prior approval to acquire 51 per cent or more (less directorsT qualifying shares) of the voting shares of Parkway National Bank of Tallahassee, Tallahassee, Florida.

Tennessee Valley Bancorp, Inc., Nashville, Tennessee, for prior approval to acquire 51 per cent or more of the voting shares of Commerce Union Bank Chattanooga, Chattanooga, Tennessee, a proposed new bank.

Twin Gates Corporation, Wilmington, Delaware, and Northern States Bancorporation, Inc., Detroit, Michigan, for prior approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by merger to Th^ Union National Bank and Trust Company of Marquette, Marquette, Michigan.

United Missouri Bancshares, Inc., Kansas City, Missouri, for prior approval to acquire 80 per cent or more (less directors1 qualifying shares) of the voting shares of United Missouri Bank of Jefferson City, National Association, Jefferson City, Missouri, a proposed new bank.

Digitized for FRASER Federal Reserve Bank of St. Louis

H.2 1973 No. 41 11

11

6

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6 7 7

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Received Continued Austin Bancshares Corp., Austin, Texas, for prior

approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of Oak Hill National Bank, Oak Hill, Texas, a proposed new bank.

FrostBank Corporation, San Antonio, Texas, for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Colonial National Bank, San Antonio, Texas, a proposed new bank.

Approved Alabama Bancorporation, Birmingham, Alabama, for

prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Baldwin National Bank of Robertsdale, Robertsdale, Alabama.

Combanks Corporation, Winter Park, Florida, for prior approval to acquire 100 per cent of the voting shares (less directorsf qualifying shares) of ComBank/Longwood, Longwood, Florida, a proposed new bank.

West Florida Bank Holding Company, Inc., Panama City, Florida, for prior approval to acquire 100 per cent of the voting shares of Panama City National Bank, Panama City, Florida, a proposed new bank.

Associated Bank Corporation, Davenport, Iowa, for prior approval to acquire 80 per cent or more of the voting shares of Iowa County Savings Bank, Marengo, Iowa.

Central National Bancshares, Inc., Des Moines, Iowa, for prior approval to acquire (1) 90 per cent or more of the voting shares of Kossuth Security Investment Company, Mason City, Iowa, a bank holding company, thereby indirectly acquiring 80 per cent or more of the voting shares of The Security State Bank, Algona, Iowa; (2) 90 per cent or more of the voting shares of Unibank, Inc., Mason City, Iowa, a bank holding company, thereby indirectly acquiring 80 per cent or more of the voting shares of United Home Bank & Trust Co., Mason City, Iowa.

Digitized for FRASER Federal Reserve Bank of St. Louis

Approved Continued

7

American Bankcorp, Inc., Lansing, Michigan, for

prior approval to acquire 100 per cent of the

voting shares of American Bank of Grand Ledge,

Grand Ledge, Michigan, a proposed new bank.

7

Old Kent Financial Corporation, Grand Rapids,

Michigan, for prior approval to acquire 100

per cent of the voting shares of the successor

by merger to The Peoples State Bank of Holland,

Holland, Michigan.

8

Mercantile Bancorporation, Inc., St. Louis, Missouri,

for prior approval to acquire at least 90 per

cent of the voting shares of Sedalia Bank and

Trust Company, Sedalia, Missouri.

10

United Banks of Colorado, Inc., Denver, Colorado,

for prior approval to acquire 80 per cent or

more of the voting shares of Broomfield Bank,

Broomfield, Colorado.

11

First International Bancshares, Inc., Dallas, Texas,

for prior approval to acquire all of the voting

shares (less directors' qualifying shares) of the

successor by merger to First Hutchings-Sealy

National Bank of Galveston, Galveston, Texas.

Suspended

8

On H.2 No. 36, the Board reported receipt of an applica-

tion from Mercantile Bancorporation Inc., St. Louis,

Missouri, for prior approval to acquire at least 90

per cent (plus directors' qualifying shares) of the

voting shares of Lewis and Clark State Bank of St.

Louis County, St. Louis, Missouri. This application

has been placed in suspense awaiting the holding of

a public hearing on the case to be held on November

8, 1973.

* ****

To Expand a Bank Holding Company Pursuant to Section

4(c)(8) of the Bank Holding Company Act of 1956

(

Received

1

Depositors Corporation, Augusta, Maine, for prior

approval to acquire all the voting shares of Firestone

Financial Corp., Chestnut Hill, Massachusetts.

**4 (c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

Digitized for FRASER



Federal Reserve Bank of St. Louis

H.2

1973 No. 41

- 7

Received Continued

2

**First National City Corporation, New York, New

9-27-73

York, notification of intent to engage in de

novo activities (the origination and placement

of residential and income property mortgage

loans with institutional investors, origination

of single family and multi-family construction

loans, and financing the purchase of mobile homes)

la Houston, Texas, through its subsidiary, Advance

Mortgage Corporation, Southfield, Michigan.

2

**First National City Corporation, New York, New

9-28-73

York, notification of intent to engage in de

novo activities (making consumer installment

personal loans, purchasing consumer installment

sales finance contracts; and acting as broker for

the sale of consumer credit related life/accident

and health insurance and consumer credit related

property and casualty insurance; if this proposal

is effected, Nationwide Financial Corporation of

Idaho will offer to sell insurance as follows:

(a) group credit life/accident and health insurance

to cover the outstanding balances of loans to

borrowers in the event of their death, or, to

make the contractual monthly payments on the loans

in the event of the borrower1s disability; (b)

individual casualty insurance on property, generally

automotive and household goods, subject to security

agreements with Nationwide; further, in regard to

the sale of credit related insurance, Nationwide

Financial Corporation of Idaho will not offer

insurance counseling) in Boise, Idaho, through its

subsidiary, Nationwide Financial Corporation of Idaho.

6

**Trust Company of Georgia, Atlanta, Georgia, and its

10-12-73

wholly-owned subsidiary, Trust Company of Georgia

Associates, Atlanta, Georgia, notification of

intent to engage in a de novo activity (conducting

a mortgage banking business) in Tampa, Florida,

through its subsidiary, Adair Mortgage Company, Inc.

7

**FBT Bancorp, Inc., South Bend, Indiana, notification

10-10-73

of intent to engage in de novo activities (making,

acquiring, or servicing loans or other extensions of

credit for personal, family, household, or commercial

purposes; the sale of credit life insurance and carrying

on of all activities related and incidental to the

operation of a finance business) in Kokomo, Indiana,

through a subsidiary, FBT Capital Corporation, South

Bend, Indiana.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

Digitized for FRASER Federal Reserve Bank of St. Louis

H.2 1973 No. 41

-- 8 --

Received Continued

7

First Ogden Corporation, Naperville, Illinois, for

permission to retain the activities of First Ogden

Corporation; First Data Services, Inc.; First

Claren Corporation; and Firstline Leasing Corporation,

all in Naperville, Illinois.

9

**Houston Investments, Inc., Caledonia, Minnesota,

10- 8-73

notification of intent to engage in a de novo

activity (marketing to banks and bank holding

companies a farm credit plan service developed by

Sprague National Bank, a subsidiary of Houston

Investments, Inc).

12

**Marine Bancorporation, Seattle, Washington, notification 10- 2-73

of intent to engage in de novo activities (making or

acquiring, for its own account or for the account of

others, loans and other extensions of credit,

including the making of consumer installment loans,

purchasing consumer instalment sales finance

contracts and making of loans to small businesses;

leasing personal property and equipment, or acting as

agent, broker, or adviser in leasing of such property,

where at the inception of the initial lease the

expectation is that the effect of the transaction and

reasonably anticipated future transactions with the

same lessee as to the same property will be to

compensate the lessor for not less than the lessor's

full investment in the property; and acting as insur-

ance agent or broker with regard to credit life and

disability insurance relating only to extensions of

credit by Commerce Credit Company, secured or un-

secured, with the limitation that the initial amount

of such insurance issued with respect to any debtors

may at no time exceed the amount owed by such debtors)

at 500 West Bannock Street, Boise, Idaho, through

its subsidiary, Commerce Credit Company.

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**Marine Bancorporation, Seattle, Washington, notification 10- 2-73

of intent to engage in d?e novo activities (acting as

insurance agent or broker, in the offices of its

subsidiary, Commerce Credit Company hereinafter

designated, with regard to credit life and disability

insurance relating only to extensions of credit by

Commerce Credit Company, secured or unsecured, with the

limitation that the initial amount of such insurance

issued with respect to any debtors may at no time

exceed the amount owed by such debtors) at 5902 Sixth

Avenue, Tacoma, Washington, and 8056 S.E. Harold Street,

Portland, Oregon.

**4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

Digitized for FRASER Federal Reserve Bank of St. Louis

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