h2_19790915.pdf

APPLICABLE RESERVE BANK

New York

Dallas

Dallas

Chicago

ANNOUNCEMENT BY - ' • • ' x

BOARD CF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2/ 1979 No, 37)

Actions of the Board; Applications aftd Reports

Received During the Week Ending September 15, 1979

ACTIONS OF SHE BOARD

Statement by Governor Nancy H. Teeters, before the Sub-committee on Oversight of the House Committee on Ways and Means to discuss the recent study by the Internal Revenue Service on unreported income.

Statement by Governor Errmett J. Rice, before the Commerce Consumer, and Monetary Affairs Subcommittee of the House Committee on Government Operations to review supervision of bank advertising practices by the Federal financial regulatory agencies;

Extension of the Garment period until November 23, 1979, on proposal to implement provisions of the International Banking Act of 1978 by imposing reserve requirements and interest rate limitations on branches and agencies of foreign banks in this country whose parent banks have worldwide assets of $1 billion or more.

Marine Midland International Corporation, New York, New York, requesting an extension of time until December 31 ? 1979, within which to divest its interest in Banque de 1*Union Europeenne, Paris, France.

First United Banoorporation, Inc., Fort Worth, Texas, ex-tension of time to December 10, 1979, within which to consummate the acquisition of First United Bank -Arlington, N.A., Arlington, Texas, a proposed new bankc 1/

Soutliwest Bancnhares, Inc., Houston, Texas, extension of time to September 30, 1979, within which to consummate the acquisition of Lewisville National Bank, Lewisville, Texas. 1/

Suburban Bancorp, Inc., Palatine, Illinois, extension of time to December 7, 1979, within which to became a bank holding company through acquisition of 80 per cent or more of the voting shares of Palatine National Bank, Palatine, Illinois. 1/

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

i

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

H.2, 1979 No. 37 - 2 -

ACTIONS OF TOE BQAREHCcmtinued

San ^registration for Livermore Production Credit Associa-Francisco tion, Livermore, California. 1/

Richmond Blakeley Bank and Trust Company, Ranson, West Virginia, investment in bank premises. 1/

Chicago Citizens Ctimnercial & Savings Bank, Flint, Michigan, in-vestment in bank premises . 1/

New York Long Island Trust Company, Garden City, New York, invest-ment in bank premises. 1/

Minneapolis State Bank of Alcester, Alcester, South Dakota, invest-ment in bank premises. 1/

Chicago Springfield Marine Bank, Springfield, Illinois, invest-ment in bank premises. 1/

St. Louis Effingham State Bank, Effingham, Illinois, extension of time to November 7, 1979, witliin which to establish a branch (facility) at Main and Jefferson Streets, in Martin's IGA Store, Effingham, Illinois. 1/

Cleveland Farmers State Bank of Stryker, Stryker, Ohio, and The First National Bank in Bryan, Bryan, Ohio, proposed merger; report to the Federal Deposit Insurance Cor-poration on competitive factors. 1/

Atlanta First Railroad Bank of Dal ton, Dal ton, Georgia, proposed merger with The Bank of Dal ton, Dalton, Georgia; report to the Federal Deposit Insurance Corporation on competitive factors. 1/

Dallas West Davis National Bank, Conros, Texas, proposed merger with First National Bank in Oonroe, Texas; report to the Comptroller of the Currency on competitive factors. 1/

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


H.2, 1979 No. 37 - 3 -

ACTIONS CE1 TOE BOARD-Continued

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

Approved San United California Bank, Los Angeles, California. Branch Francisco to be established at the intersection of Skyway High-

way and Lakeridge Court, Canmunity of Paradise Pines, County of Butte. 1/ & 2/

* * * * *

Qiicago

New York

Nov; York

Sail Francisco

Applications and Notifications for International Invest-ments and Other Actions Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c) (9) and 4(c) (13) of the Bank Holding Company Act of 1956, as amended

Applications Approved Manufacturers-Detroit International Corporation, Detroit, Michigan: grants consent to exchange its 10 per cent ownership interest in The Metropolitan Trust Company, Toronto, Ontario, Canada, for a 3.2 per cent interest in VCM Trustee Limited, Stratford, Ontario, Canada.

Sixty Day Notification Period Allowed to Expire Citibank Overseas Investment Corporation, Wilmington, Delaware: no objection to continue to hold, indirectly, the shares of Citicorp Canada Limited, after Limited acquires and holds 300 ,000 additional cannon shares of Citicorp Leasing Canada Limited.

Morgan Guaranty International Finance Corporation, New York, New York: no objection to make an additional investment in Morgan Guaranty S.A.E., Madrid, Spain.

Wells Fargo Bank, N.A., San Francisco, California: no objection to establish its initial branch in Argentina.

* * * * *

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 Now York Banque da Paris et des Pays-Bas, Paris, France: to

establish an Edge Corporation to be known as Banque de Paris et des Pay-Bas International. (Houston) Co.

V AppJ "' cation processed on behalf of the Board of Governors under delegate; authority.

2/ Application subject to Community Reinvestment Act. The Ccnmmity Reinvestment Officer of the applicable Rose: Bank may be contacted as to the length of Hie ea iu-yL period.

!


H.2, 1979 No. 37 — 4 —

ACTIONS OF TOE BOABD-Continued

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

Withdrawn Atlanta Cunming Bancshares, Inc., Cunming, Georgia, for ap-

proval to acquire 80 per cent or more of the voting shares of Bank of Cunming, Cunming, Georgia. 2/

Approved Kansas City Arapahoe County Funding Company, Englewood, Colorado,

for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Arapahoe Bank and Trust, Englewood, Colorado. 2/

Kansas City Enders Company, Enders, Nebraska, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of First State Bank, Enders, Nebraska. 1/ & 2/

Kansas City First Osmond Corporation, Osmond, Nebraska, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Osmond State Bank, Osmond, Nebraska. 1/ & 2/

Kansas City Kilgore Bancshares, Inc., Kilgore, Nebraska, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Farmers State Bank, Kilgore, Nebraska. 2/

Kansas City SCB Financial Corporation, Smith Center, Kansas, for ap-proval to acquire 63.8 per cent of the voting shares of The Smith County State Bank and Trust Company, Smith Center, Kansas. 1/ & 2/

Dallas Greenbelt Bancshares, Inc., Quanah, Texas, for approval to acquire 80 per cent or more of the voting shares of The Security National Bank of Quanah, Quanah, Texas. 1/ & 2/

Dallas Kerens Bancshares, Inc., Kerens, Texas, for approval to acquire 80 per cent or more of the voting shares (less directors' qualifying shares) of The Kerens State Bank of Kerens, Kerens, Texas. 1/ & 2/


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


H.2, 1979 No. 37 - 5 - W

ACTIONS OF THE BQARD-Continued

Dallas New First Security National Corporation, Houston, Texas, for approval to acquire 100 per cent of the voting shares of First Security Bank of Beaumont, N.A., Beaumont, Texas; 100 per cent of the voting shares of First Security Central Bank, Beaumont, Texas; 100 per cent of the voting shares of First Security Bank of Colleyville, N.A., Colleyville, Texas; 100 per cent of the voting shares of First Security Bank of Dallas, N.A., Dallas, Texas; 100 per cent of the voting shares of First Security Bank of Garland, N.A., Garland, Texas; 100 per cent of the voting shares of First Security Bank of Grand Prairie, N.A., Grand Prairie, Texas; 85.41 per cent of the voting shares of First Security Bank of Kountze, Kbuntze, Texas; 100 per cent of the voting shares of First Security Bank of Lancaster, Lancaster, Texas; 56.95 per cent of the Voting shares of First Security Bank of Sour Lake, Sour Lake, Texas; and 37.50 per cent of the voting shares of Gateway National Bank of Beaumont, Beaumont, Texas. 2/

Dallas Reunion Bancshares, Inc., Dallas, Texas, for approval to acquire 80 to 100 per cent (less directors1 qualifying shares) of the voting shares of Reunion Bank, Dallas, Texas. 1/ & 2/

Kansas City ONB Bancorp, Inc., Chickasha, Oklahoma, for approval to acquire 100 per cent (less directors1 qualifying shares) of the voting shares of Oklahoma National Bank & Trust Company of Chickasha, Chickasha, Oklahoma. 1/

* * * * *

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

Approved Kansas City Colorado National Bankshares, Inc., Denver, Cdlorado,

for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Colorado Bank-Tech Center, Denver, Colorado, a proposed new bank. 1/ & 2/

Dallas First City Bancorporation of Texas, Inc., Houston, Texas, for approval.to acquire 62.5 per cent of the voting shares of Gateway National Bank of Beaumont, Beaumont, Texas. 2/

1 7 Application processed on behalf of the Board of Governors under delegated authority.

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


- 6 -

ACTIONS OF SHE BOARD-Continued

To Expand a Bank Holding Company Pursuant to Section 3(a) (5) of the Bank Holding Company Act of 1956

Approved Dallas First City Bancorporation of Texas, Inc., Houston, Texas,

for approval to acquire 100 per cent of the voting shares of First Security National Corporation, Beaumont, Texas. 2/

* * * * *

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

Returned Kansas City Commerce Bancshares, Inc., Kansas City, Missouri, noti-

fication of intent to engage in de novo activities (acting as agent or broker for the sale of certain property and casualty insurance which is directly related to extensions of credit by the bank and non-bank subsidiaries of Applicant) at 720 Main Street, Kansas City, Missouri, through bank and nonbank sub-sidiaries of Applicant, through a subsidiary, CBI Insurance Agency, Inc. (7/9/79) 3/

Approved Kansas City ONB Bancorp, Inc., Chickasha, Oklahoma, for approval to

acquire the beneficial interest in ONB Business Trust, Chickasha, Oklahoma and thereby to indirectly acquire the shares of CNB Insurance Agency, Inc., Chickasha, Oklahoma. 1/

Dallas First City Bancorporation of Texas, Inc., Houston, Texas, for approval to acquire all of the assets of First Security National Corporation that provide bookkeeping and data processing services necessary for its internal operations and the operations of its subsidiaries, and other functions permissible under Section*225.4(a) (8) of the Board's Regulation Y; and to acquire FSN Life Insurance Company, Beaumont, Texas, a subsidiary of FSN, and thereby engage in the writing of credit acci-dent, health, and life insurance directly related to extensions of credit.


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.

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. 37 w - 7 - w

ACTIONS OF THE BQARD-Continued

Delayed Richmond South Carolina National Corporation, Columbia, South

Carolina, notification of intent to engage in de novo activities (offering credit life, accident and health and property insurance directly related to extensions of credit) at 408 East Main Street, Forest City, North Carolina, through its subsidiary, Provident Financial Corporation (9/14/79) 3/

Permitted 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 selling as agent credit related life and accident and health insurance or decreasing or level (in the case of single payment loans) term life insurance) at 215 Harrison Avenue, Panama City; 675 West Garden Street, Pensacola; 2415 Blanding Blvd., Jacksonville; 16403 N.W. 67th Avenue, 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; and 9550 Regency Square Blvd., Jacksonville, all in Florida, through its subsidiary, Citicorp Person-to-Person Financial Center of Florida, Inc. (9/11/79) 3/

New York Citicorp, New York, NOT York, notification of intent to engage in de novo activities (making consumer install-ment personal loans, purchasing and servicing for its cwn account consumer installment sales finance con-tracts, making loains for the account of others such as one-tp-fdur family unit mortgage loans, making loans to individuals arid 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; the sale of credit related property and casualty insurance protecting personal and real property subject to a security agreement with Nationwide Financial Corpora-tion of Montana and to the extent permissible under

37 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. 37 - 8 -

ACTIONS OF THE BQARI>-Continued

applicable State insurance laws and regulations) at 600 Kensington Street, Missoula, Montana, through its subsidiary, Nationwide Financial Corporation of Montana (9/10/79) 3/

Philadelphia New Jersey National Corporation, Trenton, New Jersey, notification of intent to engage in de novo activities (making, acquiring, selling and servicing for its cwn account or the account of others, loans and other extensions of credit principally secured by mortgages) at 19 Bala Avenue, Bala Cynwyd, Pennsylvania, through its direct subsidiary, Underwood Mortgage and Title Company (9/10/79) 3/

Richmond South Carolina National Corporation, Columbia, South Carolina, notification of intent to engage in de novo activities (making or acquiring, loans and other ex-tensions of credit for its cwn account such as would be made by a consumer finance ccnpany; and servicing loans and other extensions of credit for the account of others) at 408 East Main Street/ Forest City, North Carolina, through its subsidiary, Provident Financial Corporation (9/15/79) 3/

Richmond Uhion Trust Bancorp, Baltimore, Maryland, notification of intent to engage in de novo activities (making installment loans to individuals for personal, family or household purposes; purchasing sales finance con-tracts executed in connection with the sale of per-sonal, family or household goods or services; and acting as agent in the sale of credit life and credit accident and health insurance directly related to its extensions of credit) at 8917 Lem Turner Road, Jackson-ville, Florida, through its subsidiary, Landmark Financial Services, Inc. (9/14/79) 3/

Atlanta Great American Corporation, Baton Rouge, Louisiana, no-tification of intent to continue to engage in de novo activities (making of long-term permanent residential loans of a conventional nature in addition to making loans insured by federal agencies; the making of long-term permanent loans on income producing prop-erties; and servicing loans for institutional investors) at One American Place, Baton Rouge, Louisiana, through its subsidiary, Embank Mortgage Ccnpany (9/14/79) 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. 37 - 9 -

ACTIONS OF TOE BQARD-Continued

Atlanta First Alabama Bancshares, Inc., Montgomery, Alabama, no-tification of intent to engage in de novo activities (the sale as agent of credit life Insurance, credit accident and health insurance, and physical damage insurance, all of which are directly related to ex-tensions of credit by First Alabama Bank of Conecuh County, a proposed subsidiary of the holding company) in Evergreen, Alabama, through its subsidiary, FAB Agency, Inc. (9/12/79) 3/

Kansas City Plains States Financial Corporation, Walsenburg, Colorado, notification of intent to engage in de novo activities (to engage in industrial banking activities and in the sale of insurance directly related to extensions of credit by the industrial bank) through a subsidiary, First Walsenburg Industrial Bank, Walsenburg, Colorado (9/13/79) 3/

Imperial Bancorp, Inglewood, California, notification of intent to engage in de novo activities (making, acquir-ing or placing loans and other extensions of credit for its own account and for the account of others and servicing such loans and extensions of credit for its cam account and for the account of others; the company will primarily engage in insurance premium financing, consisting of financing of premiums relating to both commercial and consumer property and casualty insur-ance) in the vicinity of the intersection of 116th Avenue, N.E. and 8th Street, N.E., Bellevue, Washington, through its subsidiary, Imperial Credit Corporation (9/14/79) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (to engage in acting as escrow agent for the purchase and sale of real property and the execution of all documents and disbursal of funds relating to loan transactions and all other activities engaged in by an escrow company) at 2256 South Mountain Avenue, Ontario, California, through its subsidiary, S.P.M.C. Escrow, Inc. (9/13/79) 3/

Security Pacific Corporation, Los Angeles, California, notification of intent to engage in de novo activities (originating and acquisition of mortgage loans, in-cluding development and construction loans on multi-family and commercial properties for Security Pacific Mortgage Corporation's am account or for sale to others and the servicing of such loans for others) at 1755 East Plum Lane, Reno, Nevada, through its subsidiary, Security Pacific Mortgage Corporation (9/13/79) 3/

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

San Francisco

San Francisco

San Francisco

I


H.2, 1979 No. 37 - 10 -

ACTIONS OF THE BQARI>Continued

San U.S. Bancorp, Portland, Oregon, notification of intent Francisco to engage in de novo activities (to engage in lending,

loan servicing, leasing of personal property, and credit related insurance agency activities) in the vicinity of the intersection of South Federal Boule-vard and North Bel levies, Littleton, Colorado, through its subsidiary, U.S. Bancorp Financial Inc. (9/14/79) 3/

* * * * *

Agreements Filed Pursuant to Section 8 of the Securities Exchange Act of 1934

Deutsche Bank AG, Frankfort, Germany has filed an agreement with the Board undertaking to comply with all provisions which relate to the use of credit to finance transactions in securities.

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

i


H.2, 1979 No. 37 — 1 1 —

APPLICAnONS RECEIVED

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

Cleveland The Orrville Savings Bank, Orrville, Ohio. Branch to be established at 10 North Main Street, Marshallville, Wayne County. 2/

* * * * *

Chicago

Chicago

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

EM State Bank, Sebewaing, Michigan, 2/

MCB Bank, Dundee, Michigan. 2/

* ' * * * *

Chicago

Chicago

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

FM State Bank, Sebewaing, Michigan, to merge with Farmers and Merchants State Bank of Sebewaing, Michigan, Sebewaing, Michigan. 2/

MCB Bank, Dundee, Michigan, to merge with Monroe County Bank, Dundee, Michigan, 2/

* * * * *

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

Atlanta Citrus & Chemical Bancorporaticn, Inc., Bartcw, Florida, for approval to acquire 80 per cent or more of the voting shares of Citrus & Chemical Bank of Barton, Bartow, Florida. 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 comment period c


H.2, 1979 No. 37 - 1 2 -

APPLICATIONS RECEIVED-Continued

Atlanta

Chicago

Chicago

Chicago

Chicago

St. Louis

Minneapolis

Kansas City

Kansas City

San Francisco

Rhea Bancshares, Inc., Daytcn, Tennessee, for approval to acquire 100 per cent of the voting shares of Dayton Bank & Trust Company, Dayton, Tennessee. 2/

CENTER POINT BANCSHARES CORP., Crawfordsville, Iowa, for approval to acquire 91.5 per cent of the voting shares of Iowa State Bank and Trust Company, Center Point, Iowa. 2/

First Naperville Bancorporation, Inc., Naperville, Illinois, for approval to acquire 80 per cent or more of the voting shares of The First Bank, Naperville, Naperville, Illinois. 2/

Tsvaiter Financial Corporation, Chicago, Illinois, for approval to acquire 80 per cent or more of the voting shares of Garfield Ridge Trust and Savings Bank, Chicago, Illinois. 2/

WALKER BANCSHARES CORP., Crawf ordsville, lava, for ap-proval to acquire 99.2 per cent of the voting shares of Walker State Bank, Walker, lava. 2/

Western Kentucky Bancshares, Inc., Livermore, Kentucky, for approval to acquire 88.05 per cent of the voting shares of Farmers and Merchants Bank, Livermore, Kentucky* 2/

Western Bancshares, Inc., St. Paul, Minnesota, for ap-proval to acquire 94.7 per cent of the voting shares of Western State Bank of St. Paul, St. Paul, Minnesota. 2/

Robinson Bancshares, Inc., Robinson, Kansas, for ap-proval to acquire 80 per cent or more of the voting shares of The Bank of Robinson, Robinson, Kansas. 2/

Tulsa Bancshares, Inc., Tulsa, Oklahoma, for approval to acquire 80.25 per cent of the voting shares of Guaranty Bancorporation, Tulsa, Oklahoma. 2/

Pacwest Bancorp, Milwaukie, Oregon, for approval to acquire 100 per cent of the voting shares of First State Bank of Oregon, Milwaukie, Oregon, The Community Bank, Lake Oswego, Oregon, The First National Bank of McMinnville, McMinnville, Oregon, and Hood River County Bank, Hood River, Oregon. 2/

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


H.2, 1979 No. 37 - 13 -

APPLICATIONS REEEIVEDHjontinued

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

Chicago First American Bank Corporation, Kalamazoo, Michigan, for approval to acquire 100 per cent of the voting shares of Farmers & Merchants State Bank of Sebewaing, Michigan, Sebewaing, Michigan. 2/ .

Chicago National Ann Arbor Corporation, Arm Arbor, Michigan, for approval to acquire 100 per cent of the voting shares of the successor by consolidation to Monroe County Bank, Dundee, Michigan. 2/

Dallas Kelly Field Bancshares Corporation, San Antonio, Texas, for approval to acquire 100 per cent of the voting shares of Exchange National Bank, San Antonio, Texas. 1/ ; , ,

Dallas Republic of Texas Corporation, Dallas, Texas, for ap-proval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Southwest National Bank, San Antonio, Texas. 2/

* * * * *

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

Boston First Financial Group of New Hampshire, Inc., Manchester, New Hampshire, for approval to acquire 100 per cent of the voting shares of First; Guaranty Savings Bank, Salem, New Hampshire. 1/ /

New York Citicorp, New York, New York, notification of intent to engage in cte novo activities (maxing consumer install-ment personal loans, purchasing and servicing for its c m account consumer installment sales finance con-tracts, making loans to; individuals and businesses secured by real and personal property , the proceeds of xriiidh iin&y be for purposes other thdn personal, family or household usage; and sale of credit related life and accident and health or decreasingdr level (in the case of single payment loans) termlife insurance by

27 Application subject to Community Reinvestment Act. Hie Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. - h — ; -


H.2, 1979 No. 37 - 14

APPLICATIONS RECEIVEDK Dntinued

licensed agents or broker to the extent permissible under applicable State insurance laws and regulations; and the sale of credit related property and casualty insurance protecting personal and real property sub-ject to a security agreement with Nationwide Financial Corporation of Missouri and to the extent permissible under applicable State insurance laws and regulations ; in 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 Company, an affiliate of Nationwide Financial Corporation of Missouri) at Plaza Tfcwers Office Building, 1736 East Sunshine, Suite 102, Springfield, Missouri, through its subsid-iary, Nationwide Financial Corporation of Missouri (9/13/79) 3/

Cleveland Centran Corporation, Cleveland, Ohio, notification of intent to engage in de novo activities (the making and acquiring of consumer and ccnmercial finance loans for its cam account or the account of others (including loans secured by mortgages or deeds of trust on real property); the sale as agent of credit life insurance and credit health and accident insurance to borrowers at their request in connection with extensions of credit; and the servicing of loans and other extensions of credit for any person) at Capital Beltway Building, 1751 Elton Road, Silver Spring, Maryland, through a subsidiary, Major Finance Corporation of Silver Spring (9/10/79) 3/

Richmond Northwestern Financial Corporation, North Wilkesboro, North Carolina, notification of intent to engage in de novo activities (solicitation of home mortgage loans secured by first mortgages) at Ridgewood Drive and Ash Street, Goldsboro, North Carolina, through its subsidiary, First Atlantic Corporation (9/12/79) 3/

Atlanta Citizens and Southern Holding Company, Atlanta, Georgia, 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 for any persons, and operation of a licensed small loan company and of an installment sales fiannce company) at 200 St. Joseph Street, Mobile, Alabama, through a subsidiary, Citizens and Southern Finance Company d/b/a C & S Financial Services (9/6/79) 3/



H.2, 1979 No. 37 — 15 —


Chicago

Chicago

First Chicago Corporation, Chicago, Illinois, notifica-tion 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 secured by real estate mortgages and servicing such loans and other extensions of credit) in Forte Plaza, 1401 Brickel Avenue, Miami, Florida, Phoenix or Scottsdale, Arizona, and Seattle, Washington, through its subsidiary, First Chicago Realty Services Corporation (9/10/79) 3/

Midland Mortgage Corporation, Detroit, Michigan, noti-fication of intent to, engage in de novo activities (originating mortgages an single family residential housing in Florida, Washington, D.C., Virginia, Maryland and Michigan) at 360 First National Building, Detroit, Michigan (9/14/79) 3/

San BankAmerica Corporation, San Francisco, California, no-Francisco tificaticn of intent to relocate de novo activities

(to engage in lending, loan servicing, and insurance agency activities) from Palm Center, 1742 Los Angeles Avenue, Simi Valley to 2660 Tcwnsgate Road, Westlake Village, California, through its subsidiary, Finance-America Corporation (a California Corporation) (9/13/79) 3/

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

(to engage in lending, loan servicing, and credit related insurance activities) at 16268 Whittier Boule-vard, Whittier, California, through its subsidiary, FinanceAmerica Corporation (a California Corporation) (9/13/79) 3/

San Patagonia Corporation, Tucson, Arizona, notification of Francisco intent to engage in de novo activities (originating

residential and commercial real estate loans for sale to permanent investors and servicing the same) in the Orem-Provo, Utah area, through its subsidiary, Western American Mortgage Company (9/11/79) 3/

San Patagonia Corporation, Tucson, Arizona, notification of Francisco intent to engage in <te novo activities (originating i

residential and commercial real estate loans for sale to permanent investors and servicing the same) in Salt Lake City, Utah, through its subsidiary, Western American Mortgage Company (9/11/79) 3/



H.2, 1979 No. 37 — 16 —


San Wells Fargo & Company, San Francisco, California, noti-Francisoo fication of intent to engage in de novo activities (to

engage in credit related life and disability insurance activities) in San Francisco, Los Angeles, Oakland, Palo Alto, Pleasant Hill, San Diego, and Stockton, California, through its subsidiary, Wells Fargo Insur-ance Services (9/12/79) 3/

* * * * *

REPORTS RECEIVED

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

The Bank of Eden, Eden, North Carolina.

* * * * *

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

United Citizens Bank, Winston-Salem, North Carolina (Filed by F. Roger Page - Amendment #1)

* * * * *

PETITIONS FOR RUIEMAKING

None.

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


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h2_19790915.pdf