h2_19720219.pdf

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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

H.2 Applications and Reports Received or Acted on 1972 No. 8

During the Week Ending February 19, 1972

Pi strict Date

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

Received 2 Union County Trust Company, Elizabeth, New Jersey. 2-17-72

(January 1972)

4 The Commercial Bank and Savings Company, Fostoria, 2-14-72 Ohio. (January 1972)

4 The Dollar Savings and Trust Company, Youngstown, 2-18-72 Ohio. (February 1972)

7 Ann Arbor Bank, Ann Arbor, Michigan. (February 1972) 2-17-72

* * * * *

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

Received Valley Bank of New York, New York, New York.

Approved Broadway State Bank, Nashville, Tennessee.

* * * * *

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

Received The Merrill Trust Company, Bangor, Maine.

Branch to be established at the corner of North and Chandler Streets, Caliais, Maine.

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

II. 2 1972 No. 8 -2-

Receivecl Continued The Firestone Bank, Akron, Ohio. Branch to be

established at 4155 Cleveland-Massillon Road, Norton, Summit County, Ohio.

The Cleveland Trust Company, Cleveland, Ohio. Branch to be established at 2020 East 93 Street, Cleveland, Cuyahoga County, Ohio.

The Newark Trust Company, Newark, Ohio. Branch to be established at South Maine Street, Johnstown, Licking County, Ohio.

Trust Company of Georgia, Atlanta, Georgia. Branch to be established at approximately 5200 Old National Highway, Atlanta, Georgia, to be known as the South Fulton Office.

The Peoples Bank of Leslie, Leslie, Michigan. Branch to be established at 348 Main Street, Rives Junction, Rives Township, Jackson County, Michigan.

Approved

*Girard Trust Bank, Bala Cynwyd, Montgomery County, Pennsylvania. Branch to be established at 330 Lehigh Street, Salisbury Township, Lehigh County, Pennsylvania.

*The Provident Bank, Cincinnati, Ohio. Branch to be established at 4400-4610 Montgomery Road, Norwood, Hamilton County, Ohio.

*United Virginia Bank of Williamsburg, Williamsburg, Virginia. Branches to be established at the following locations:

a. The intersection of Jamestown Road and Old Jamestown Road, Williamsburg; and

b. The intersection of U.S. Route 60 and Black's Crossing, James City County, Virginia.

*Trust. Company of Georgia, Atlanta, Georgia. Branch to be established at 1290 Columbia Drive, Decatur, Georgia to be known as the Belvedere Office.

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


11.2

No. 1972 -3-

Approved Continued -Linden State Bank, Linden, Indiana. Branch to be

established at 107 1/2 North Maine Street, Linden, Indiana.

-The Security Trust and Savings Bank, Senandoah, Iowa. Branch to be established at 803 West Sheridan Avenue, Shenandoah, Iowa.

-Citizens Commercial & Savings Bank, Flint, Michigan, Branch to be established at 5524 Richfield Road, Genesee Township, Genesee County, Michigan.

*The Yellowstone Bank, Laurel, Montana. a remote drive-up/walk-up facility.

To establish

* * * * *

To Carry Reduced Reserves Pursuant to Section 19 of the Federal Reserve Act

Approved 11 Braes Bayou National Bank, Houston, Texas 2-14-72

* * * * *

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

Received Wachovia Bank and Trust Company, National Association,

Winston-Salem, North Carolina. Branch to be established in Georgetown, Grand Cayman Island.

* * * * *

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

Received The Citizens Central Bank, Arcade, New York,for prior approval to merge Citizens State Bank, Lyndonville, New York under the charter and title of Citizens Central Bank.

* * * * *

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


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

Received Financial Securities Corporation, Lake City, Tennessee, for permission to retain 50.5 per cent (12,640) of the voting shares of First National Bank of Anderson County, Lake City, Tennessee, and 65.1 per cent (32,562) of the voting shares of First Farmers Bank, Athens, Tennessee.

First State Banking Corporation, Miami, Florida, for prior approval to acquire 80 per cent or more of the voting shares of each of the following banks: The First State Bank of Miami, Miami, Florida; Hialeah-Miami Springs First State Bank, Hialeah, Florida; Airport First State Bank, Miami, Florida; North Hialeah First State Bank, Hialeah, Florida; Miami Lakes First State Bank, Miami, Florida.

Hume Bancshares, Inc., Hume, Missouri, for prior approval to acquire 89.3 per cent of the voting shares of Hume Banking Company, Hume, Missouri.

Approved Newport Savings and Loan Association, Newport,

Rhode Island, for prior approval to acquire 100 per cent of the voting shares of The Island Trust Company, Newport, Rhode Island, a proposed new bank.

Clearing Bancorporation, Inc., Chicago, Illinois, for prior approval to acquire 89.9 per cent or more of the voting shares of State Bank of Clearing, Chicago, Illinois.

First National Financial Corporation, Kalamazoo, Michigan, for prior approval to acquire 80 per cent or more of the voting shares of The First National Bank and Trust Company of Michigan, Kalamazoo, Michigan; The Merchants & Miners Bank, Calumet, Michigan; and The Deerfield State Bank, Deerfield, Michigan.


H.2 19 72 No. -5-

Approved Continued 10 **Bankshares of Nebraska, Inc., Grand Island, 2-16-72

Nebraska, for prior approval to acquire 100 per cent of the voting shares (less directors1

qualifying shares) of the successor by merger to The First National Bank of Grand Island, Grand Island, Nebraska.

Suspense 4 On H.2 No. 50 (19 71) the Board reported receipt of

an application from First Bancorp, Inc., Cincinnati, Ohio, for prior approval to acquire 100 per cent (less directors! qualifying shares) of the voting shares of The Athens National Bank, Athens, Ohio; The Security Bank, Athens, Ohio; and The Richmond National Bank, New Richmond, Ohio. This application is now in suspense awaiting receipt of Applicant's reply to a Department of Justice letter to the Board dated February 16, 19 72.

5 On H.2 No. 39 (1971) the Board reported receipt of an application from Virginia National Bankshares, Inc., Norfolk, Virginia, for prior approval to acquire 100 per cent of the voting shares of Colonial-American National Bank, Roanoke, Virginia, the successor by merger to The Colonial-American National Bank of Roanoke, Roanoke, Virginia, and the successor by merger to Virginia National Bank, Norfolk, Virginia. This application is now in suspense awaiting receipt of Applicant's reply to a Department of Justice letter to the Board dated February 14 , 19 72.

* * * * *

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

Received 6 Financial Securities Corporation, Lake City, Tennessee,

for permission to retain 31.6 per cent of the voting shares of First Farmers Bank, Athens , Tennessee.

**Processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H. 2 1972 No. 8 -6-

Received Continued 11 American General Insurance Company and Texas

Commerce Bancshares, Inc., both located in Houston, Texas, for prior approval to acquire 100 per cent (less directors* qualifying shares) of the voting shares of the successor by merger to North Freeway Bank, Houston, Texas.

11 First United Bancorporation, Inc., Fort Worth, Texas, for prior approval to acquire 100 per cent (less directorsf qualifying shares) of the voting shares of the successor by merger to The First National Bank of Fort Worth, Fort Worth, Texas.

11 First United Bancorporation, Inc. , Fort Worth, Texas, for prior approval to acquire 24.3 per cent of the voting shares of Seminary State Bank, Fort Worth, Texas.

11 First United Bancorporation, Inc., Fort Worth, Texas, for prior approval to acquire 27.0 per cent of the voting shares of Security State Bank, Fort Worth, Texas.

Approved 2 Charter New York Corporation, New York, New York,

for prior approval to acquire 100 per cent of the voting shares of Bank of Babylon, Babylon, New York.

2 United Jersey Banks, Hackensack, New Jersey, for prior approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of the successor by merger to The City National Bank of Millville, Millville, New Jersey.

4 BancOhio Corporation, Columbus, Ohio, for prior approval to acquire 80 per cent or more of the voting shares of The Ohio Savings & Trust Company, New Philadelphia, Ohio.

4 Huntington Bancshares Incorporated, Columbus, Ohio, for prior approval to acquire 80 per cent or more of the outstanding voting shares of The First National Bank of Wadsworth, Wadsworth, Ohio.


H. 2 1972 No. 8

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Approved Continued First at Orlando Corporation, Orlando, Florida,

for prior approval to acquire at least 90 per cent of the voting shares of Citizens Commercial Bank of Ocala, Ocala, Florida, a proposed new bank.

First at Orlando Corporation, Orlando, Florida, for prior approval to acquire at least 90 per cent of the voting shares of The Commercial Bank. & Trust Company of Ocala, Ocala, Florida.

First Florida Bancorporation, Tampa, Florida, for prior approval to acquire 90 per cent or more of the voting shares of First National Bank of Titusville, Titusville, Florida.

United Banks of Colorado, Inc., Denver, Colorado, for prior approval to acquire 80 per cent or more of the voting shares of The St. Vrain Valley Bank, Longmont, Colorado.

First City Bancorporation of Texas, Inc., Houston, Texas, for prior approval to acquire 83.3 per cent of the voting shares of The Midland National Bank, Midland, Texas,

First City Bancorporation of Texas, Inc. , Houston, Texas, for prior approval to acquire 24.5 per cent of the voting shares of United Bank Shares, Inc., which owns 100 per cent of the voting shares of Southwest National Bank of El Paso, both in El Paso, Texas.

Denied First Southwest Bancorporation, Inc., Waco, Texas,

for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by reorganization to Bellmead State Bank, Waco, Texas,


H.2 1972 No.

Denied Continued 11 First Southwest Bancorporation, Inc. , Waco, Texas,

for prior approval to acquire 100 per cent of the voting shares (less directors V qualifying shares) of the successor by reorganization to East Texas Bank & Trust Company, Longview, Texas.

11 First Southwest Bancorporation, Inc., Waco, Texas, for prior approval to acquire 100 per cent of the voting shares (less directors 1 qualifying shares) of the successor by merger to Kilgore National Bank, Kilgore, Texas.

11 First Southwest Bancorporation, Inc., Waco, Texas, for prior approval to acquire 100 per cent of the voting shares (less directorsT qualifying shares) of the successor by merger to Sabine National Bank of Port Arthur, Port Arthur, Texas.

* * * * *

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

Received 10 Western Bancshares, Inc., Stockton, Kansas, for the

Board's permission to retain the assets and operate the Woodston Agency, formerly the Jno. McCormick Insurance Agency, Woodston, Kansas.

12 **Wells Fargo & Company, San Francisco, California, 2-15-72 notification of intent to engage in a de novo activity (acting as investment or financial adviser, including serving as investment adviser, as defined in section 2(a)(20) of the Investment Act of 19 40, to an investment company registered under that act) through a subsidiary known as Wells Fargo Fund Advisory Corporation, San Francisco, California.



H.2 1972 No. 8 -9-

Delayed** 6 Citizens and Southern Holding Company, Atlanta, 2-16-72

Georgia, notification of intent to engage de novo in certain activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts), such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) 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 reasonable anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessorfs full investment in the property) through a subsidiary to be known as Citizens and Southern Factors, Inc., with proposed offices in Atlanta, Georgia; Dalton, Georgia and Charlotte, North Carolina.

7 Bankmanagers Corporation, Milwaukee, Wisconsin, 2-16-72 notification of intent to engage de novo in certain activities (in the repair, erection and sale or ownership of housing or other projects under one or more of the Federal Housing Administration programs) through a subsidiary known as Equity Management Associates, Inc., Milwaukee, Wisconsin.

10 Midwestern Financial Corporation, Denver, Colorado, 2-18-72 notification of intent to engage in a cte novo activity (serving as an investment adviser for a real estate investment trust and administering the daily operations of the trust) through a subsidiary to be known as Midwestern Investors Trust Advisers, Inc., in Honolulu, Hawaii; Denver, Colorado; San Francisco, California; Encino, California; and Seattle, Washington.



H.2 1972 No. • 1 0 -

Approved 1 Newport Savings and Loan Association, Newport,

Rhode Island, for prior approval to continue to engage in the activities of a thrift institution.

Permitted** 6 First National Holding Corp., Atlanta, Georgia, 2-20-72

to establish an office in Columbus, Georgia, for its subsidiary, First South Homeowners Co., Inc. , Atlanta, Georgia, through which it will engage in a <3e novo activity (making loans principally secured by second mortgages on single family residences for its own account).

Suspense 12 On H.2 No. 49 (19 71) the Board reported receipt

of an application from Marine Bancorporation, Seattle, Washington, for prior approval to acquire .all of the shares of Far West Securities Co., Spokane, Washington. This application is now in suspense awaiting receipt of Applicant's reply to a Department of Justice letter to the Board dated February 16, 1972.

12 On H.2 No. 43 (1971) the Board reported receipt of an application from Marine Bancorporation, Seattle, Washington, for prior approval to retain all of the shares of Coast Mortgage Company, Seattle, Washington. This application is now in suspense awaiting receipt of Applicant!s reply to a Department of Justice letter to the Board dated February 16, 1972.

* * * * *

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

Delayed** 7 All American Life & Financial Corporation, Chicago, 2-18-72

Illinois, notification of intent to acquire directly or indirectly, ownership or control of stock of General United Services, Inc., West Des Moines, Iowa.



H.2 1972 No. 8 -11-

Permitted**

2 National Kinney Corporation, New York, New York, 2-18-72 a majority-owned subsidiary of Kinney Services Inc., New York, New York, to acquire all of the capital stock of Meyerbank Electric Company, Inc., New York, New York.

For Exemption Pursuant to Section 4(d) of the Bank Holding Company Act of 1956

Approved 3 Milton Hershey School and School Trust, Hershey,

Pennsylvania.

Reprocessed by Reserve Bank *on behalf of the Board of Governors under delegated authority.


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