h2_19790728.pdf

ANNOUNCEMENT BY

APPLICABLE RESERVE BANK

Dallas

Dallas

Chicago

Chicago

Richmond

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2, 1979 No. 30)

Actions of the Board; Applications and Reports

Received During the Week Ending July 28, 1979

ACTIONS OF THE BOARD

Regulations D and Q, proposed rulemaking; the Board proposes to amend the regulations to make branches cind agencies of foreign banks subject to the reserve requirements and interest rate ceilings currently applicable to member banks; requested comment on its proposals by September 21, 1979. (Docket No. R-0238)

Regulation Z, calculation and disclosure of annual percentage rates; the Board invites public comment on specific revisions in the requirements of Regulation 2 with regard to the degree of accuracy and treatment of payment schedule variations in credit terms. (Docket No. R-0239)

First Seminole Bancshares, Inc., Seminole, Texas, ex-tension of time to October 1, 1979, within which to consummate the acquisition of Seminole State Bank, Seminole, Texas. 1/

Texas Commerce Bancshares, Inc., Houston, Texas, exten-sion of time to September 17, 1979, within which to consummate and open South Belt Commerce Bank, National Association, Houston, Texas. 1/

Bay City Bank & Trust Company, Bay City, Michigan, exten-sion of time to November 2, 1979, within which to es-tablish a branch at 4955 Bay Road, Saginaw Township, Michigan. 1/

First Trust & Savings Bank of Kankakee, Kankakee, Illinois, to make an investment in bank premises. 1/

National Bank of South Carolina, Sumter, South Carolina, proposed merger with Bank of North Charleston, North Charleston, South, Carolina; report to the Comptroller of the Currency on competitive factors. 1/

V Application processed 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, 1979 No. 30

ACTIONS OF THE BOARD-Continued

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

Approved Chicago Grand Ridge Bancorporation, Grand Ridge, Illinois, for

approval to acquire 80 per cent or more of the voting shares of The First National Bank of Grand Ridge, Grand Ridge, Illinois. 2/

St. Louis . Lima Bancshares, Inc., Lima, Illinois, for approval to acquire 97.2 per cent of the voting shares of The State Bank of Lima, Lima, Illinois. 1/ & 2/

Kansas City Bancshares of Woodward, Inc., Woodward, Oklahoma, for approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of The Bank of Woodward, Woodward, Oklahoma. 1/ & 2/

Kansas City Mannford Bancshares, Inc., Mannford, Oklahoma, for ap-proval to acquire 80 per cent or more of the voting shares of Mannford State Bank, Mannford, Oklahoma. 1/ & 2/

Dallas Henrietta Bancshares, Incorporated, Henrietta, Texas, for approval to acquire 80-100 per cent (less direc-tors1 qualifying shares) of the voting shares of The First National Bank of Henrietta, Henrietta, Texas. 1/ &2/

* * * * *

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

Approved Chicago Citizens Bancorporation, Sheboygan, Wisconsin, for

approval to acquire 80 per cent or more of the voting shares of Itoo Rivers Savings Bank, Two Rivers, Wisconsin. 2/

1/ Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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

H.2, 1979 No. 30 - 3 -

ACTIONS OF THE BQARD-Continued

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

Withdrawn Chicago National Detroit Corporation, Detroit, Michigan, noti-

fication of intent to engage in de novo activities (to engage in finance activities) at 5001 W. Broad Street, Richmond, Virginia, through its subsidiary, Instaloan Financial Services, Inc. (7/23/79) 3/

Permitted Richmond Maryland National Corporation, Baltimore, Maryland,

notification of intent to engage in de novo activities (engaging generally in the business of a mortgage banker, mortgage broker and mortgage servicing; originating, buying, selling and otherwise dealing in mortgage loans as principal or agent; servicing mort-gage loans for affiliated or nonaffiliated entities; acting as adviser in mortgage loan transactions; and engaging in the sale, as agent, of credit life, credit disability and credit accident and health insurance in connection with extensions of credit by bank and nonbank subsidiaries) at 10 Light Street, Baltimore, and 8630 Fenton Street, Silver Spring, Maryland, through its subsidiary, Maryland National Mortgage Corporation (7/26/79 > 3/

Richmond NCNB Corporation, Charlotte, North Carolina, notifica-tion of intent to engage in de novo activities (making loans and extensions of credit to dealers for the financing of inventory (floor planning) and for working capital purposes) at 202 Madison Avenue, Athens; Campbell Plaza, Columbia; 270 Ocoee Street, Cleveland; 505 Broad Street, Elizabethton; River Oak Shopping Center, Fayettevilie; 1214 Tusculun Boulevard, Green-ville; 1204 West Broadway, Newport; 111 The Acres, Lewisburg; 207 Woodland Street, Manchester; 610 North Chancery Street, McMinnville; Independence Square, Franklin; Imperial Square Shopping Center, Henderson-ville; 412 South Cumberland Street, Lebanon; 105 N. Porter Street, Winchester; 66 Plaza Shopping Center, Rogersville; and 6328 Clinton Highway, Knoxville, Tennessee, through its indirect subsidiary, TranSouth Mortgage Corporation (7/29/79) 3/

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1979 No. 30 - 5 -

; ^ RECEIVED

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

Richmond Old Colony Bank and Trust Company, James City County (P.O. Williamsburg), Virginia. Branch to be estab-lished in the Williamsburg Shopping Center at the intersection of Richmond.Road and Monticello Avenue, Williamsburg. 2/

* * * * *

To Merge Pursuant to Section 18 (c) of the Federal Deposit Insurance Act

Richmond Bank of Virginia - Central Valley, Verona, Virginia, to merge with Cdmiunity State Bank and Trust Company of Augusta County, Verona, Virginia. 2/

* * * * *

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

Richmond Bank of Virginia - Central Valley, Verona, Virginia. 2/

* * * * *

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

Richmond Jefferson Bankshares, Inc., Charlottesville, Virginia, for approval to acquire NB Corporation, Charlottesville Virginia and Southern Bankshares, Inc., Richmond, Virginia. 2/

Atlanta Currming Bancshares, Inc., Currming, Georgia, for approval to acquire 80 per cent or more of the voting shares of Bank of Currming, Cuonming, Georgia. 2/

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the Garment period.


H.2, 1979 No. 30 6

APPl2[(STI(*iS1 FidEIVED-CQntinued

Chicago

Chicago

Minneapolis

Kansas City

Kansas City

Kansas City

CLARENCE BfitCSHARES INC., Clarence, Iowa, for approval to acquire 80 per cent or more of the voting shares of The Clarence Savings Bank, Clarence, Icwa. 2/

Onarga Bancorp, Inc., Onarga, Illinois, for approval to acquire 100 per cent of the voting shares of B & B Management Corp., Onarga, Illinois, and indirectly acquire 82.57 per cent of the outstanding capital stock of Qiarga State Bank, Onarga, Illinois. 2/

Minnesota Bankshares Corporation, Brainerd, Minnesota, for approval to acquire 55.2 per cent of the voting shares of Brainerd National Bank, Brainerd, Minnesota.

- 2/

First Yale Bancorporation, Inc., Yale, Oklahoma, for approval to acquire more than 80 per cent (less di-rectors ' qualifying shares) of the voting shares of First Bank and Trust Company, Yale, Oklahoma. 2/

Powder River Resource Bancorporation, Gillette, Wyoming, for approval to acquire 80 per cent or more of the voting shares of Stockmen's Bank and Trust Company, Gillette, failing. 2/

United Texas Financial Corporation, Wichita Falls, Texas, for approval to acquire 80-100 per cent of the voting shares of Parker Square State Bank, Wichita Falls, Texas. 2/

* * * * *

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

. Richmond Bank of Virginia Company, Richmond, Virginia, for ap-proval to acquire 100 per cent of the voting shares of Bank of Virginia-Central Valley, Verona, Virginia, a proposed new bank. 2/

Minneapolis Guaranty Development Company, Livingston, Montana, for approval to acquire 53.8 per cent of the voting shares of First Security Bank of Big Timber, Big Timber, Montana. 2/

27 Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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

H.2, 1979 NO. 30 7

APPLICATIONS RECEIVED-Continued

Dallas Texas Commerce Bancshares, Inc., Houston, Texas, for approval to acquire 1,764 shares of the voting shares of The'First National Bank of Stafford, Harris County, Texas. 2/

* * * * *

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

Boston First National Boston Corporation, Boston, Massachusetts, notification of intent to engage in de novo activities (providing corporate, pension and personal trust re-lated services to corporations, partnerships and indi-viduals) at the Sapelo Building in Island Office Park, Hilton Head, South Carolina, through a new subsidiary known as Old Colony Trust Company of South Carolina (7/26/79) 3/

Boston State Street Boston Corporation, Boston, Massachusetts, notification of intent to engage in de novo activities (real estate lending, mortgage banking, servicing mortgage loans, and the sale of credit life and credit accident and health insurance) at 9207 Park West Boulevard, Knoxville, Tennessee, through its subsidiary, Kentucky Mortgage Company Incorporated, Lexington, Kentucky (7/26/79) 3/

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (making consumer install-ment personal loans, making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other than per-sonal, family or household usage; and the sale of credit related life and accident and health or decreas-ing or level (in the case of single payment loans) term life insurance; credit related decreasing term life insurance and accident and health insurance may be reinsured by Family Guardian Life Insurance Company, an affiliate of Citicorp Person-to-Person Financial Center of Florida, Inc.) at 215 Harrison Avenue, Panama City; 675 West Garden Street, Pensacola; 2415 Blanding Blvd., Jacksonville; 16403 N.W. 67th Avenue -

2/ Application subject to Community Reinvestment .Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.


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

H.2, 1979 No. 30. - 8 -


Miami; 3725 Grace Street, W. Tampa; 4000 N. State Road 7, Ft. Lauderdale; 2300 Palm Beach Lakes Blvd., West Palm Beach; 1940 South Tamiami Trail, Sarasota; 1915 North Monroe, Tallahassee; 124 East Colonial Drive, Orlando; and 9550 Regency Square Blvd., Jacksonville, all located in Florida, through its subsidiary, Citicorp Person-to-Person Financial Center of Florida, Inc. (7/23/79) 3/

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (making consumer install-ment personal loans, purchasing and servicing for its avn account consumer installment sales finance contracts, making loans for the account or others such as one-to-four family unit mortgage loans, making loans to in-dividuals and businesses secured by real and personal property, the proceeds of which may be for purposes other than personal, family or household usage; and sale of credit related life and accident and health or decreasing or level (in the case of single payment loans) term life insurance by licensed agents or brokers to the extent permissible under applicable State insurance laws and regulations; and the sale of credit related property and casulty insurance protecting personal and real property subject to a security agreement with Nationwide Financial Corporation of Montana and to the extent permissible under applicable State insurance laws and regard to credit related insurance, the business of a general insurance agency will not be conducted; credit related decreasing term life insurance and accident and health insurance may be reinsured by Family Guardian Life Insurance Canpany, an affiliate of Nationwide Financial Corporation of Montana) at 600 Kensington Street, Missoula, Montana, through its subsidiary, Nationwide Financial Corporation of Montana (7/27/79) 3/

Philadelphia Philadelphia National Corporation, Philadelphia, Penn-sylvania, notification of intent to engage in de novo activities (the origination of FHA, VA and Conventional residential mortgage loans) at 1980 112th Avenue, N.E., Bellevue, Washington, through its subsidiary, Colonial Mortgage Service Canpany Associates, Inc., Philadelphia, Pennsylvania (7/18/79) 3/



H.2, 1979 No. 30 9


Richmond Jefferson Bankshares, Inc., Charlottesville, Virginia, for approval to acquire Charter Insurance Managers, Inc., Richmond, Virginia and MB Corporation, Charlottes-ville, Virginia.

St. Louis Union Illinois Company, East St. Louis, Illinois, for approval to engage in the activity of providing manager raent consulting advice on an explicit fee and non-continuing basis to non-affiliated banks through a wholly owned subsidiary to be known as Bank-Aide, Inc., through an office to be located at 734 West Port Plaza, Suite #255, St. Louis, Missouri.

Minneapolis Northwest Bancorporation, Minneapolis, Minnesota, for approval to engage de novo in the business of providing audit services to non-affiliated banks, through a wholly owned subsidiary, Banco Incorporated, at 968 Northwestern Bank Building, Minneapolis, Minnesota.

Kansas City Del State, Inc., Del City, Oklahoma, notification of intent to engage in de novo activities (to engage de novo as a mortgage banker of first mortgage loans on residential, apartment, commercial, and industrial properties for institutional investors) the subsid-iary's principal place of business will be located at 5500 N. Western, Oklahoma City, Oklahoma, with a second office to be located on the premises of Del State Bank and Trust Company, Del City, Oklahoma, through a subsidiary, Metro Mortgage Corporation (7/12/79) 3/

San BankAmerica Corporation, San Francisco, California, no-Francisco tification of intent to engage in de novo activities

(to engage in lending, loan servicing, and credit related insurance agency activities) at 1330 East Valley Parkway, Escondido, California, through its indirect subsidiary, FinanceAmerica Corporation (California) (7/23/79) 3/

San Crocker National Corporation, San Francisco,, California, Francisco notification of intent to engage in de novo activities

(lending, loan servicim#, investment advisory, and real property leasing activities) in Los Angeles, San Francisco, and. Sai a* Aea% W t o i a and Atlanta, Georgia, through its subsidiary, Crocker Mortgage Qamgany, Ingu ( # # # #) 3/

37 4 (c) (8) 6r 4 (c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1979 No. 30 10


San First Hawaiian, Inc., Honolulu, Hawaii, notification of Francisco intent to engage in de novo activities (to engage in

industrial loan and credit related insurance activities) at 45-1441 Kamehameha Highway, Kaneche, Hawaii, through its subsidiary, Hawaii Thrift & Loan, Incorporated, (7/18/79) V

* * * * *

Richmond

REPORTS RECEIVED

Registration Statement filed Pursuant to Section 12(g) of the Securities Exchange Act

Peoples Bank of Danville, Danville, Virginia. (Amendment #1)

* * * * *

PETITIONS FOR RULEMAKING

None.

37 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

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

Documents

h2_19790728.pdf