h2_19740817.pdf

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on H.2 1974 No. 33 During the Week Ending August 17, 1974

District Date

Proxy Statement (Special Meeting) Filed Pursuant to Section 14(a) of the Securities Exchange Act

Received 12 Valley Bank of Nevada, Las Vegas, Nevada 8-14-74

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To Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act

Approved 2 ^Chemical Bank of Binghamton, Binghamton, New York

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To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

Received 5 First Virginia Bank of Colonial Heights, Colonial Heights,

Virginia. Branch to be established at 3209 Boulevard, Colonial Heights.

7 Linden State Bank, Linden, Indiana. Branch to be established 145 feet West of intersection of Washington and Wabash Streets, New Richmond.

^Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.

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

H.2 1974 No. 33 - 2 -

Receive Cont'd The Louisville Trust Company, Louisville, Kentucky. Branch to be established at Poplar Level Road and Mercer Avenue, Louisvi-lle, Jefferson County.

Approved *Chemical Bank, New York, New York. Branch to be

established in the immediate neighborhood of West 70th Street and Broadway, New York.

*The State Bank of North Jersey, Pine Brook, New Jersey. Branch to be established on the South side of Route 46 in the Montville Industrial Center #3, Pine Brook.

*Bank of Warrenton, Warrenton, Virginia. Branch to be established at the intersection of U.S. Route 17 and State Route 637, Morrisville, Facquier County.

*0ld Colony Bank and Trust Company of Williamsburg, James City County (Williamsburg Post Office), Virginia. Branch to be established on U.S. Route 60 in the community of Norge, James City County.

* * * * *

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

Received The Chase Manhattan Bank, N.A., New York, New York: a branch in the Hashimite Kingdom of Jordan, to be located in Amman.

Approved Girard Trust Bank, Philadelphia, Pennsylvania: a branch in Grand Cayman, Cayman Islands, to be located in Georgetown.

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''Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.


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

Received the First National Bank of Chicago, Chicago, Illinois an additional branch in England to be located in Bristol.


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

Received The Fuji Bank, Limited, Tokyo, Japan, for approval to acquire 100 per cent of the voting shares of The Fuji Bank and Trust Company, New York, New York, a proposed new bank.

Bank of Florida Corporation, St. Petersburg, Florida, for approval to acquire 100 per cent (less directorsf qualifying shares) of the voting shares of Bank of Florida in St. Petersburg, St. Petersburg, Florida.

Southland Bancor.poration, Mobile, Alabama, for approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by mer-ger to The Merchants National Bank of Mobile, Mobile, Alabama; and the successor by merger to City National Bank of Birmingham, Birmingham, Alabama.

NBC Corporation, Altus, Oklahoma, for approval to ac-quire 80 per cent or more of the voting shares of The National Bank of Commerce of Altus, Altus, Oklahoma.

Roseland State Company, Roseland, Nebraska, for approval to acquire 100 per cent of the voting shares of Rose-land State Bank, Roseland, Nebraska.

Approved National Bancshares Corp., Pine Bluff, Arkansas, for

approval to acquire 100 per cent of the voting shares (less directorsT qualifying shares) of National Bank of Commerce of Pine Bluff, Pine Bluff, Arkansas.

Osborne Bankshares, Inc., Osborne, Kansas, for approval to acquire 80 per cent of the voting shares of The First State Bank & Trust Company, Osborne, Kansas.

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

Received Ford City Corporation, Chicago, Illinois, for approval

to acquire 14.9 per cent of the voting shares of State Bank of Countryside, Countryside, Illinois, a proposed new bank.


H.2 1974 No. 33 - 5 -

Received Continued 11 First International Bancshares, Inc., Dallas, Texas,

for approval to acquire 100 per cent of the voting shares (less directors! qualifying shares) of Bank of Aimeda, Houston, Texas.

Approved 2 Chemical New York Corporation, New York, New York, for

approval to acquire 100 per cent of the voting shares of Chemical Bank of Binghamton, Binghamton, New York, a proposed new bank.

5 Equitable Bancorporation, Baltimore, Maryland, for ap-proval to acquire 100 per cent of the voting shares of the successor by merger to Truckers and Savings Bank, Salisbury, Maryland.

7 Northern States Bancorporation, Inc., Detroit, Michigan, and Twin Gates Corporation, Wilmington, Delaware, for spprcvpl to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of First, national Bank of Plymouth, Plymouth, Michigan.

Delayed 6 Flagship Banks, Inc., Miami Beach, Florida, for approval

to acquire 90 per cent or more of the voting shares of Citizens State Bank, Marianna, Florida.

* * * * *

To Retain Bank Shares Acquired in a Fiduciary Capacity Pursuant to Section 3 of the Bank Holding Company Act

of 1956 Received

11 First City Bancorporation of Texas, Inc., Houston, Texas, for permission to retain 811.945 shares of The First National Bank of Bay City, Bay City, Texas.

Approved 10 NBC Co.3 Lincoln, Nebraska, for approval to retain shares

of Fremont First National Co., Fremont, Nebraska; Fre-mont First State Co., Fremont, Nebraska; and Kearney First National Co., Kearney, Nebraska,


H. 2 1974 No. 33 - 6 ~

To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956

Received 1 Indian Head Banks, Inc., Nashua, New Hampshire, for ap-

proval to acquire 100 per cent of the outstanding shares of Indian Head Bank Services Corporation, Nashua, New Hampshire, a proposed new company.

2 **Fidelity Union Bancorporation, Newark, New Jersey, noti- 7-30-74 fication of intent to engage in de novo activities (making loans in the present maximum amount of $1,000 or less and making loans secured by second mortgages on residential real estate (up to 4-family occupancy) owned by the borrowers under the New Jersey Secondary Mortgage Loan Act; and making available to the custom-ers credit life and disability insurance covering the unpaid balance of loans outstanding) in Wall Township, Monmouth County, New Jersey, through its subsidiary, Suburban Finance Company.

4 **Union Commerce Corporation, Cleveland, Ohio, notification 8-12-74 of intent to engage in

H.2 1974 No. 33 - 7 -

Received Continued 7 **Merchants National Corporation, Indianapolis, Indiana, 8-12-74

notification of intent to engage in de novo activities (leasing capital goods and equipment to industry, banks, or others, or acting as agent, broker, or adviser in leasing such personal property, where at the inception of the initial lease the effect of the transaction will yield a return that will compensate the lessor for not less than the lessor's full investment in the property, plus the estimated total cost of financing the property over the term of the lease) through a subsidiary, Circle Leasing of Michigan Corp., Birmingham, Michigan.

7 **North Shore Capital Corporation, Chicago, Illinois, notl- 8-14-74 fication of intent to engage in &e novo activities (act-ing as an insurance agent or broker in offices at which the holding company or its subsidiaries are otherwise engaged in business with respect to credit life/accident and health insurance sold in connection with loans and other extensions of credit by the subsidiary bank or any bank-related subsidiary, and insurance for the holding company and its subsidiaries) through a subsid-iary, N.S.I. Agency, Inc., Chicago, Illinois.

8 **First Tennessee National Corporation, Memphis, Tennessee, 8-12-74 notification of intent to engage in de novo activities (acting as agent or broker with respect to the sale of general insurance) at 10039 Manchester Road, Warson Woods, Missouri, through its subsidiary, Crown Finance Corporation.

8 **First Tennessee National Corporation, Memphis, Tennessee, 8-14-74 notification of intent to engage in de novo activities (making or acquiring, for its own account, interest bearing and discount loans and other extensions of credit; and acting as agent or broker with respect to insurance that is directly related to an extension of credit by the company or its subsidiaries or is sold in a community with population not exceeding 5,000 or is otherwise sold as a matter of convenience to the purchaser) at 86086 Milibranch Road, Southaven, Mis-sissippi, through its subsidiary, Crown Finance Cor-poration.

10 **First Tulsa Bancorporation, Inc., Tulsa, Oklahoma, noti- 8-13-74 fication of intent to engage in

H. 2 1974 No. 33 " 8 "

Received Continued 10 **NBC Co., Lincoln, Nebraska, notification of intent to 8-15-74

engage in de novo activities (the sale of credit life and disability insurance) in Scottsbluff, Nebraska, through a subsidiary, NBC Credit Insurance Agency, Inc., Lincoln, Nebraska.

10 Roseland State Company, Roseland, Nebraska, for approval to acquire Roseland Insurance Agency, Roseland, Nebraska, and thereby engage directly in general insurance agency activities.

10 **United Rock Construction, Inc., Weeping Water, Nebraska, 8-14-74 notification of intent to engage in de novo activities (leasing real or personal property, or acting as agent, broker, or adviser in leasing such property) in Superior, Nebraska, through a subsidiary, United Rock Leasing Company,

Approved 1 Industrial National Corporation, Providence, Rhode Island,

for approval to acquire all of the assets of J. R. Gen-try, d/b/a Security Loan Co., Bartow, Florida, through its wholly-owned indirect subsidiary, Southern Discount Company, Atlanta, Georgia.

4 Pittsburgh National Corporation, Pittsburgh, Pennsylvania, for approval to acquire voting shares of Central Mort-gage & Investment Company, Colorado Springs, Colorado, through its wholly-owned indirect subsidiary, The Kissell Company, Springfield, Ohio.

Permitted 1 **Industrial National Corporation, Providence, Rhode 8-15-74

Island, notification of intent to engage in de novo activities (consumer finance; and insurance agency for any insurance directly related to an extension of credit or provision of other financial services other-wise sold as a matter of convenience to the purchaser) at Alton Plaza, 1824 E. Broadway, Alton, Illinois, through a subsidiary, Mortgage Associates Inc.

1 **Multibank Financial Corp., Boston, Massachusetts, noti- 8-16-74 fication of intent to engage in de novo activities (computerized bookkeeping, statement, payroll, billing and accounting services for the holding company, its subsidiaries and others) at 11 Midstate Drive, Auburn, Massachusetts and 1666 Maine Street, Springfield, Mas-sachusetts, through a subsidiary, Multibank Computer Corporation.

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

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

1974 No. 33 Permitted Continued

1 **UST Corp., Boston, Massachusetts, notification of intent 8-12-74 to engage in de novo activities (accounts receivable, inventory, equipment, and real estate financing, and leasing of personal property) at 40 Court Street, Bos-ton, Massachusetts, through a subsidiary, JSA Financial Corporation and UST Leasing Company, a division of said corporation.

2 **Citicorp, New York, New York, notification of intent to 8-11-74 engage in de novo activities (making consumer install-ment personal loans, purchasing consumer installment sales finance contracts, and acting as broker for the sale of consumer credit related life/accident and health insurance; if this proposal is effected, Nationwide Financial Corporation will offer to sell insurance as follows: (a) group credit life/accident and health in-surance 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 borrowerfs disability; (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements with Nationwide; further, in regard to the sale of credit related insurance, Nationwide Financial Cor-poration will not offer insurance counseling) in Den-ver, Colorado; New Orleans, Louisiana; Phoenix, Ari-zona; and Salt Lake City, Utah; through its subsidiary, Nationwide Financial Services Corporation.

2 **Citicorp, New York, New York, notification of intent to 8-14-74 engage in de novo activities (making consumer install-ment 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 Nevada 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 borrower's disability; (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements with Nationwide; further, in regard to the sale of credit related insurance, Nationwide Financial Corporation of Nevada will not offer insurance counsel-ing) in Sparks, Nevada, through its subsidiary, Nation-wide Financial Corporation of Nevada.



1974 Ho. 33 - lu-Permitted Continued

3 **First Pennsylvania Corporation, Philadelphia, Penn- 8-12-74 sylvania, notification of intent to relocate a de novo activity (leasing personal property and equip-ment, and acting as agent, broker, or adviser in the leasing of such property and equipment) from 3411 Silverside Road, Wilmington,' Delaware, to 1500 Chest-nut Street, Suite 1805, Philadelphia, Pennsylvania, through its subsidiary, First Pennsylvania Leasing, Inc.

3 **Provident National Corporation, Philadelphia, Pennsyl- 8-11-74 vania, notification of intent to engage in dje novo activities (leasing real property on a full payout basis, and acting as agent, broker, or adviser in leasing such property) in the Land Title Building, Broad and Chestnut Streets, Philadelphia, Pennsylvania, through its subsidiary, Provident National Realty Cor-poration .

4 **Centran Corporation, Cleveland, Ohio, notification of 8-11-74 intent to engage in de novo activities (the sale, as agent, of fire insurance and extended coverage, at the request of borrowers, on real property, furniture, and household goods taken as collateral on loans made or purchased by Colonial Financial Service, Inc.) at Suite 210 - Fairfax Building, 5500 Florida Boulevard, Baton Rouge, Louisiana; and 1016 Slattery Building, Shreveport, Louisiana; through its wholly-owned subsid-iary, Colonial Financial Service, Inc., Birmingham, Alabama.

4 **Mellon National Corporation, Pittsburgh, Pennsylvania, 8-15-74 notification 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 such as would be made by a mortgage company) at Suite 111, 921 East 86th Street, Indianapolis, Indiana, through its wholly-owned subsidiary, Mellon National Mortgage Company of Ohio, Cleveland, Ohio.

12 **Zions Utah Bancorporation, Salt Lake City, Utah, notifi- 8-16-74 cation of intent to engage in de novo activities (the lease financing of real and personal property includ-ing, but not limited to, industrial and commercial prop-erties , manufacturing facilities and processes which are considered real property, automatic data processing equipment, aircraft, manufacturing equipment, and roll-ing stock) at 310 South Main Street, Salt Lake City, Utah, through a subsidiary, Argus Leasing Corporation.

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


# e H.2 1974 No. 33 - 11-

Withdravri 3 On H.2 No. 19 (1974), the Board reported receipt of an

application from First Pennsylvania Corporation, Phil-adelphia, Pennsylvania, for approval to acquire all the issued and outstanding common stock of City Finance Plan, Downey, California. In a letter dated August 6, 1974, Applicant requested that the application be withdrawn.

3 On H.2 No. 19 (1974), the Board reported receipt of an application from First Pennsylvania Corporation, Philadelphia, Pennsylvania, for approval to acquire the assets of Globe Finance Company, Los Angeles, California. In a letter dated August 6, 1974, Appli-cant requested that the application be withdrawn.

8 **First Tennessee National Corporation, Memphis, Tennessee, 8-16-74 notification of intent to engage in de novo activities (making or acquiring, for its own account, interest-bearing and discount loans and other extensions of credit; and offering through the direct insurer or the reinsurer or acting as agent or broker with re-spect to insurance that is directly related to an ex-tension of credit of the company or its subsidiaries) in Room 115, Creek Hills Mall Shopping Center, Sapulpa, Oklahoma, through its subsidiary, Crown Finance Corpo-ration.

* * * * *

To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of 1956

Permitted 4 **American Financial Corporation, Cincinnati, Ohio, noti- 8-11-74

fication of intent to acquire by merger through its wholly-owned subsidiary, Hunter Savings Association, Cincinnati, Ohio, 100 per cent of the running stock of The Excellent Loan and Building Association Company, Cincinnati, Ohio.



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h2_19740817.pdf