h2_19820424.pdf

ANNOUNCEMENT BY

APPLICABLE RESERVE BANK

Chicago

Chicago

San Franclsco

Atlanta

Chicago

Chicago

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM (H.2, 1982 No. 17)

Actions of the Board; Applications and Reports

Received During the Week Ending Apri l 24, 1982

ACTIONS OF THE BOARD

Statement by Governor J. Charles Partee before the Sub-committee on Telecommunications, Consumer Protect ion, and Finance of the House Committee on Energy and Commerce to discuss important issues related to the regulation of f inanc ia l markets.

American National Corporation, Chicago, I l l i n o i s , extension of time to July 16, 1982, wi th in which to become a bank holding company through the acguis i t ion of 100 percent of the vot ing shares of American National Bank and Trust Company, Chicago, I l l i n o i s . J /

Banks of Iowa, I nc . , Des Moines, Iowa, extension of time to July 21, 1982, wi th in which to acquire 80 percent or more of the vot ing shares of The Avoca State Bank, Avoca, Iowa. 1/

Cascade Bancorp, Bend, Oregon, extension of t ine to July 15, 1982, w i th in which to become a bank holding company through the acquis i t ion of Bank of the Cascades, Bend, Oregon. V

Exchange Bancorporation, I n c . , Tampa, F lo r ida , extension of time to August 8, 1982, wi th in which to acquire F i r s t National Bank of Englewood, Englewood, F lor ida. J /

Flndlay Bankshares, I n c . , Findlay, I l l i n o i s , extension of time to May 22, 1982, w i th in which to become a bank hold-ing company through the acquis i t ion of 80 percent or more of the vot ing shares of Bank of Findlay, Findlay, I l l i n o i s . 1/

F i r s t Community Bancorp, I nc . , Rockford, I l l i n o i s , extension of time to September 3, 1982, w i th in which to become a bank holding company through the acquis i t ion of 100 percent of the vot ing shares of the successor by merger to F i r s t National Bank and Trust Company of Rockford; North Towne National Bank of Rockford; F i r s t Bank of Roscoe; and F i rs t Bank of Loves Park, I l l i n o i s . 1/

J7 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

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H.2, 19% No. 17 - 2 -

ACTIONS OF THE BOARD-Continued

F i rs t M id - I l l i no i s Bancshares, Inc . , Mattoon, I l l i n o i s , ex-tension of time to July 24, 1982, within which to become a bank holding company through the acquisit ion of 100 per-cent of the voting shares of the successor by merger to F i rs t National Bank, Mattoon, I l l i n o i s , Mattoon, I l l i n o i s . Yj

Midwest National Bancshares, Inc. , Midwest C i t y , Oklahoma, extension of time to June 26, 1982, within which to acquire Midwest National Bank, Midwest C i t y , Oklahoma. J /

Old Second Bancorp, Inc . , Aurora, I l l i n o i s , extension of time to June 23, 1982, within which to become a bank holding com-pany through the acquisit ion of 100 percent of the voting shares of the successor by merger to The Old Second National Bank of Aurora, Aurora, I l l i n o i s . V

Old Stone Corporation, Providence, Rhode Island, extension of time to June 25, 1982, within which to acquire the assets and assume the l i a b i l i t i e s of Pacific Southern Mortqage Trust, San Diego. \J

Texas American Bancshares, Inc . , Fort Worth, Texas, extension of time to July 15, 1982, within which to acquire Charter National Bank, Piano, Texas, a proposed new bank, j y

Barbour County Bank, Ph i l i pp i , West V i rg in ia , an investment in bank premises. V

F i rs t State Bank of Newcastle, Newcastle, Wyoming, an invest-ment in bank premises. ] /

F i rs t State Bank of Porter, Porter, Indiana, extension of time to October 8, 1982, within which to establish a branch at 429 N. Calumet Road, Chesterton, Indiana. ]_/

Philadelphia United Jersey Bank/Southwest, Cherry H i l l , New Jersey, exten-sion of time to August 5, 1982, within which to acquire the Pine H i l l Branch of the Bank of New Jersey, Camden, New Jersey. J /

Atlanta Alabama City Rank of Gadsden, Gadsden, Alabama, proposed merger with the Colonial Bank of Gadsden, Gadsden, Alabama; report to the Federal Deposit Insurance Corporation on competitive factors V

]_/ Application processed on behalf of the Board of Governors under delegated author i ty.

i

Chicago

Kansas City

Chicago

Boston

Dal las

Richmond

Kansas City

Chicago


H.2, 1982 NO. 17 3 -

ACTIONS OF THE BOARD Continued

Atlanta

San Franci sco

Atlanta

Richmond

Atlanta

Dal las

Atlanta

Atlanta

Atlanta

Bank of Atmore, Atmore, Alabama, proposed merger with United Rank of Atmore, Atmore, Alabama; report to the Federal Deposit Insurance Corporation on competitive factors. J /

Coast Merger Corporation, San Diego, Ca l i fo rn ia , proposed merger wi th Coast Bank, Long Beach, Ca l i fo rn ia , under the charter and t i t l e of the l a t t e r ; report to the Federal Deposit Insurance Corporation on competitive factors. J7

Deposit Guaranty National Bank, Jackson, Mississ ippi , pro-posed merger wi th Attala Bank of Kosciusko, Mississippi; report to the Comptroller of the Currency on competitive factors. J /

Dominion National Bank of Northern V i rg in ia , Vienna, V i rg in ia , proposed merger with Commonwealth Bank and Trust Company of V i rg in ia , S ter l ing , Vi rg in ia; report to the Comptroller of the Currency on competitive factors, y

Exchange Rank of Charlotte County, Englewood, Flor ida, pro-posed merger with F i rs t National Bank of Englewood, Flor ida; report to the Federal Deposit Insurance Corporation on competitive factors. J /

Farmers State Bank of Round Rock, Round Rock, Texas, pro-posed merger with New Farmers State Bank of Round Rock, Round Rock, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. V

F i rs t Eastern National Rank, Kingsport, Tennessee, proposed merger with Interim Eastern National Bank, Kingsport, Tennessee; report to the Comptroller of the Currency on competitive factors. V

F i rs t Gulf Beach Bank and Trust Company, St. Petersburg Reach, F lor ida, proposed merger with F i r s t Bank and Trust Company, Bel l a i r B lu f fs , Florida; report to the Federal Deposit Insurance Corporation on competitive factors. V

F i rs t State Bank, Waynesboro, Mississippi , proposed merger with F i rs t Interim State Bank, Waynesboro, Mississippi; report to the Federal Deposit Insurance Corporation on competitive factors. 1/

T7 Application processed on behalf of the Board of Governors under delegated author i ty.


H.2, 1982 No, 17 4 -

' ACTIONS OF THE BOARD-Continued

Dallas F i rs t Texas Bank, Dallas. Texas, proposed merger with New First . Texas Bank, Dallas, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. j_/

San Garden Grove Community Bank, Garden Grove, Cal i forn ia , pro-Fran- isco posed merger with Town & Country Bank, Seal Beach, Cal i fornia

under the charter and t i t l e of the l a t t e r ; report to the Federal Deposit Insurance Corporation on competitive factors.

- " Atlanta Peoples Bank of Frisco C i ty , Frisco C i ty , Alabama, proposed

merger with United Bank of Frisco Ci ty , Alabama; report to the Federal Deposit Insurance Corporation on competitive factors. 1/

New York People's Savings Bank-Bridgeport, Bridgeport, Connecticut, proposal to merge with Guardian Savings and Loan Association, Bridgeport, Connecticut; report to the Comptroller of the Currency on competitive factors. 1/

J / Application processed on behalf of the Board of Governors under delegated author i ty .


H.2, 1982 No. 17 5 -


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

Approved Dallas Tyler Bank and Trust Company, Ty ler , Texas. To establish

an o f f s i t e electronic f a c i l i t y in the French quarter Shopping Center at 4500 South Broadway, Ty ler , Texas. J /

San Pacif ic Heritage Bank, Torrance, Cal i forn ia. To establish Francisco a branch of f ice in the v i c i n i t y of the intersection of

F i rs t Street and San Pedro Street in the L i t t l e Tokyo D is t r i c t of Los Angeles, Cal i forn ia . J /

San F i rs t Interstate Bank of Ca l i fo rn ia , Los Angeles, Cal i fornia. Francisco To establish a branch of f ice in the v i c i n i t y of the in te r -

section of Highway 4 and Lone Tree Way, City of Antioch, Contra Costa County, Cal i forn ia . 1/

* * * * *

Issued Intent Not to Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978

Not Disapproved Kansas City Bank Management, Inc . , Omaha, Nebraska. J /

Kansas City Central Bancshares, I nc . , Mission H i l l s , Kansas. J /

Kansas City Wynnewood Bancshares, Inc . , Wynnewood, Oklahoma. ]_/

Kansas City Downs Bancs hares, I nc . , Downs, Kansas. 1/

* * * * *

Applications and Noti f icat ions 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

Approved New York Ci t ibank, N.A., New York, New York on behalf of i t s wholly-

owned Edge Act Corporation, Citibank Overseas Investment Corporation, Wilmington, Delaware: grants consent for

T7 Application processed on behalf of the Board of Governors under delegated author i ty .

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

H.2, 1982 No. 17 - 6 -


Assurance to engage in the ac t i v i t i es of underwriting credi t related l i f e insurance in the United Kingdom, including endowment assurance with or without p ro f i t s , mortgage investment assurance, and the of fer ing of mort-gage annuit ies, provided they are offered in connection with extensions of credi t by the Citibank organization and others.

Sixty Pay Not i f icat ion Period Allowed to Expire San F i rs t Interstate Bank of Ca l i fo rn ia , Los Angeles, Cal i-Francisco forn ia : no objection to establish a branch in Madrid,

Spain,

Sixty Day Not i f icat ion Period Waived New York J.P. Morgan & Co. Incorporated, New York, New York: no

objection to make additional investments in the capital surplus of J.P. Morgan International Finance N.V., Curacao, Netherlands An t i l l es .

* * * * *

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

Approved Richmond Farmers National Bancorp, Annapolis, Maryland, for approval

to acquire 100 percent of the voting shares of Farmers Bank, National Association, the successor by merger to Farmers National Bank of Maryland, Annapolis, Maryland and The Caroline County Bank, Greensboro, Maryland. JV

St. Louis Ambanc Corp., Vincennes, Indiana, for approval to acquire 100 percent of the voting shares of the successor by merger to The American National Bank of Vincennes, Vincennes, Indiana. J /

St. Louis F i rs t Selmer Bancshares, I nc . , Selmer, Tennessee, for ap-proval to acquire 100 percent of the voting shares of the successor by merger to F i rs t National Bank of Selmer, Selmer, Tennessee. 1/

T7 Application processed on behalf of the Board of Governors under delegated author! ty.


H.2, 1982 No. 17 - 7 -

ACTIONS OF THE BOARO-Continued

Minneapol is American Bancorporation Holding Company, Brainerd, Minnesota, for approval to acquire 100 percent of the voting shares of American National Bank of Brainerd, Brainerd, Minnesota. 1/

Minneapolis New London Agency, I nc . , New London, Minnesota, for approval to acquire at least 81.4 percent of the voting shares of F i r s t State Bank of New London, New London, Minnesota. J /

Kansas City Sarcoxie Bancorp, I nc . , Sarcoxie, Missouri, for approval to acquire at least 84 percent of the voting shares of The F i rs t National Bank of Sarcoxie, Sarcoxie, Missouri. V

Kansas City Union Bank Corporation, Wichita, Kansas, for approval to acquire at least 50.01 percent of the voting shares of Union National Bank of Wichita, Wichita, Kansas. J /

Dallas Snook Bancshares, I nc . , Snook, Texas, for approval to acquire 100 percent of the voting shares of F i r s t Bank of Snook, Snook, Texas. 1/

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

Withdrawn Atlanta SouthTrust Corporation, Birmingham, Alabama, for approval

to acquire at least 90 percent of the voting shares of Muscle Shoals National Rank, Muscle Shoals, Alabama. \J

Approved Richmond F i r s t ft Merchants Corporation, Richmond, V i rg in ia , for ap-

proval to acquire not less than 90,400 shares and not more than 143,261 shares of the voting shares of The Wise County National Bank, Wise, V i rg in ia . JJ

Atlanta F i rs t National Bancorp, Gainesvi l le, Georgia, for approval to acquire 100 percent of the voting shares of F i r s t Cornelia Corporation, Cornelia, Georgia and ind i rec t ly acquire F i r s t Bank of Habersham, Cornelia, Georgia. 1/

T7 Application processed on behalf of the Board of Governors under delegated author i ty .


H.2, 1982 No. 17

St. Louis

Minneapolis

Kansas City

Kansas City

San qrancisco

Kansas City

- 8 -


Centerre Bancorporation, St. Louis, Missouri, for approval to acquire 100 percent of the voting shares (less d i -rectors ' qual i fy ing shares) of Centerre Bank of South County, National Association, St. Louis County, Missouri, a proposed new bank. V

Dakota Bankshares, Inc . , Fargo, North Dakota, for approval to acquire at least 80 percent of the voting shares of F i rs t National Sank of Hett inger, Hettinger, North Dakota.

United Banks of Colorado, Inc . , Denver, Colorado, for ap-proval to acquire 100 percent of the voting shares of United Bank of Cherry Creek, N.A., Denver, Colorado, a proposed new bank. J /

United Banks of Colorado, Inc . , Denver, Colorado, for ap-proval to acquire 100 percent of the voting shares of United Bank of Southwest Plaza, N.A., L i t t l e t on , Colorado, a proposed new bank. J /

U.S. Bancorp, Portland, Oregon, for approval to acquire 100 percent of the voting shares of F i rs t National Bank of Oregon, Canby, Oregon, a proposed new bank. J /

Denied Wyoming Bancorporation, Cheyenne, Wyoming, for approval to

acquire 80 percent or more of the voting shares of American National Bank of Powell, Powell, Wyoming.

* * * * *

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

Approved Minneapolis New London Agency, Inc . , New London, Minnesota, for approval

to continue to se l l general insurance in a community with a population of less than 5,000. JJ

Kansas City Mid-Nebraska Bancshares, Inc . , Ord, Nebraska, for approval to acquire 100 percent of the assets of Ord Insurance Agency, Inc . , Ord, Nebraska and thereby d i rec t ly engage in the sale of general insurance in a community with a population of less than 5,000. J /

\J Application processed on behalf of the Board of Governors under delegated author i ty .


H.2, 1982 No. 17 - 9


Delayed Kansas City Farmers and Merchants Bancshares, Inc. , Crescent, Oklahoma,

no t i f i ca t ion of intent to engage in de novo ac t i v i t i es (the leasing of personal property and servicing such leases) at 116 Grand, Crescent, Oklahoma, serving Logan, Kingfisher and Canadian counties and surrounding rural areas (4/22/82) i t

Permitted Boston Hospital Trust Corporation, Providence, Rhode Island, no t i f i ca t ion

of intent to engage in de novo ac t i v i t i es (the or ig inat ion and sale of resident ial and commercial mortgages, and acting as agent for the sale of credi t l i f e and credi t accident and health insurance d i rec t ly related to an extension of credi t ) at One Hospital Trust Plaza, Providence, Rhode Island, and 10 Forbes Read, Braintree, Massachusetts, serving Rhode Island, Massachusetts, Connecticut, New Hampshire, Vermont, Maine, New York and New Jersey: the insurance ac t i v i t i es would be conducted from the Providence o f f i ce , serving Rhode Island only, through i t s subsidiary, RIHT Mortgage Corporation (4/21/82) 3/

New York Barclays Bank Limited, London, England, and Barclays Bank International Limited, London, England, requests permission to establish a de novo o f f i ce engaging in the fol lowing a c t i v i t i e s (marketing commercial loans to customers in Oregon, Washington and Alaska) at Orbanco Bui lding, Suite 1000, Off ice #24, 101 Southwest F i f t h Avenue, Portland, Oregon, through the i r subsidiary, BarclaysAmerican/Business Credi t , Inc. (4/17/82) 3/

New York C i t icorp , New York, New York, requests permission to expand the service area of an exist ing o f f i ce (reinsuring credit l i f e and credi t accident and health insurance which is related to extensions of credi t by Cit icorp subsidiaries located outside the United States) these ac t i v i t i es would be conducted in connection with extensions of credi t by Cit icorp subsidiaries operating in the fol lowing countries: Belgium, France, Germany, I t a l y , and The United Kingdom, through i t s subsidiary, Family Guardian L i fe Insurance Company (4/22/82) 3/

New York Manufacturers Hanover Corporation, New York, New York, requests permission to establish a de novo o f f i ce engaging in the fol lowing a c t i v i t i e s (arranging, making, or acquiring for i t s own account or for the account of others, consumer loans

3/ 4(c)(8) no t i f i ca t i on processed on behalf of the Board of Governors under delegated author i ty .


H.2, 1Q82 No. 17 - 10 -


and home equity loans such as would he made by a consumer finance company, servicing such loans and other extensions of c red i t for any person, and acting as an agent or broker for the sale of single and jo in t credi t l i f e and credi t accident and health insurance which is d i rec t l y related to such loans and extensions of c r e d i t , and from which Finance One Mortgage of North Carolina, Inc . , would engage in the a c t i v i t i e s of purchasing installment sales finance contracts, and acting as agent or broker for the sale of single and jo in t credi t l i f e insurance and credi t accident and health insurance which is d i rec t l y related to such loans and extensions of c red i t ) at 6623 Executive C i rc le , Suite 102, Charlotte, North Carolina, serving the following counties: Mecklenburg, Union, southern I redel , Davidson, western Cabarrus, Gaston and eastern Lincoln, through i t s subsidiary, Finance One Mortgage of North Carol ina, Inc. (4/17/82) 3/

New York Ramapo Financial Corporation, Wayne, New Jersey, requests permission to establish a de novo of f ice engaging in the fol lowing a c t i v i t i e s (making or acquiring leases of personal property, discounting or rediscounting such leases, making or acquiring loans or other extensions of cred i t such as would be made by a commercial finance company, including commercial loans secured by a borrower's inventory, accounts receivable, or other assets; and servicing such loans for others in accordance with the Board's Regulation Y) at 64 Boonton Road, Wayne, New Jersey, serving the New York City metropolitan area and northern New Jersey, through i t s subsidiary, Ramapo Trading Corporation (4/18/82) 3/

Philadelphia Philadelphia National Corporation, Philadelphia, Pennsylvania, no t i f i ca t i on of intent to engage in de novo ac t i v i t i es (the or ig inat ion of FHA, VA and conventional residential mortgage loans and the geographic areas to be served w i l l be the State of Texas, the proposed Corpus Chr is t i o f f i ce w i l l conduct the a c t i v i t i e s pr imari ly in the counties of Nueces, San Patr ic io and Kleberg, the proposed San Antonio o f f i ce w i l l conduct the a c t i v i t i e s primari ly in the Counties of Bexar, Comal and Guadalupe) at Suite 9 Everhart Patio Plaza, 5440 Everhart Road, Corpus C h r i s t i , Texas and 4831 Fredericksburg Road, San Antonio, Texas, through i t s subsidiary, Colonial Mortgage Service Company Associates, Inc. (4/20/82) 3/

3/ 4(c)(8) no t i f i ca t i on processed by Reserve Bank on behalf of the Board of Governors under delegated author i ty .


H.2, I982N0. 17 - 1 1 -


Richmond Maryland National Corporation, Baltimore, Maryland, no t i f i ca t i on of in tent to engage in de novo a c t i v i t i e s (engaging generally in the business of leasing personal property ( including but not l im i ted to , the leasing of various types of equipment, machinery, vehic les, t ransportat ion equipment, and data processing equipment and including condit ional sales contracts and chatte l mortgages) where the lease is the funct ional equivalent of an extension of c red i t ; o r ig ina t ing and servic ing personal property leases as pr inc ipal or agent; buying, se l l i ng and otherwise dealing in personal property lease contracts as pr inc ipa l or agent; act ing as adviser in personal property leasing transact ions; engaging in the sale, as agent or broker, of insurance s imi lar in form and intent to c red i t l i f e and/or mortgage redemption insurance; engaging generally in the business of leasing real property where the lease is the funct ional ecjuivalent of an extension of c red i t ; o r ig ina t ing real property leases as pr inc ipa l or agent; servic ing real property leases for a f f i 1 i a t ed or nona f f i l i a ted ind iv idua ls , partnerships, corporations or other e n t i t i e s ; buying, se l l i ng and otherwise dealing in real property leasing transact ions; engaging generally in commercial lending operations inc luding, but not l im i ted t o , secured and unsecured commerical loans and other extensions of c red i t to commercial enterpr ises; and act ing as advisor or broker in commercial lending transactions) at 24301 Southland Drive, Suite 611, Hayward, Ca l i fo rn ia and 15250 Ventura Boulevard, Suite 508, Sherman Oaks, Ca l i f o rn ia , the geographic area to be served w i l l be the western United Staes including but not 1imited t o , the States of Ca l i f o rn ia , Oregon, Washington, Arizona, New Mexico, Nevada, Utah, Colorado, Idaho, Montana and Wyoming, through i t s subsid iary, Mary land National Leasing Corporation (4/18/82) y

Richmond The Wachovia Corporation, Winston-Salem, North Carolina, n o t i f i c a t i o n of in tent to relocate de novo a c t i v i t i e s (providing mortgage banking services, including the o r ig ina t ion and processing of res iden t i a l , construct ion, development, and income property mortgage loans, the purchase and sale or placement of mortgage loans, the administrat ion and servic ing of mortgage loans, the management and sale of propert ies acquired through foreclosure or t ransfers in l i eu of foreclosure, and act ing as agent for c red i t l i f e and c red i t accident and health insurance and fo r property and casualty insurance related to extensions of c red i t ) from 615 Wesley Drive, Charleston, South

V 4 ( ^ f 8 ) ^ n o t i f f c a ^ i 6 n processed by Reserve Bank on behalf of the Board of Governors under delegated author i ty .


H.2, 19? No. 17 - 1? -


Carolina to the Corporate Square Office Complex at the inter-section of Hal 1 Drive and LaCross Road, North Charleston, South Carol ina, serving Charleston, Berkeley and Dorchester, Counties in North Carol ina, through i t s subsidiary, Wachovia Mortgage Company (4/21/82) 3/

Atlanta F i rs t National Rank of Pa In Beach, lncor|x>rated, Palm Beach, F lor ida, n o t i f i c a t i o n of intent to engage in de novo ac t i v i t i es (making or acquir ing, for i t s own account or Tor the account of others, loans; servicing loans; acting as investment or f inancia l adviser to the extent of providing por t fo l io invest-ment advice to other persons, including real estate investment, advice to such Bank's c l i en ts ; and leasing real property, or act ing as agent, broker or adviser in leasing such property, for the Bank and for others) at 4600 North Ocean Boulevard, Boynton Beacn, F lor ida, servicing the southern half of the State of F lo r ida , through i t s subsidiary. Palm Beach National Corporation (4/18/82) 3/

Dallas Bank Secur i t ies, Inc . , Albuquerque, New Mexico, no t i f i ca t ion of intent to engage in de novo ac t i v i t i es (processing of demand deposit accounts, savings, cer t i f i ca tes of deposit, commercial, installment loans, and mortgage loans, and general ledger) at 23QS Renard, SE, Albuquerque, flew Mexico, serving the State of New Mexico (4/23/82) 3/

San American Republic Bancorp, Torrance, Ca l i fo rn ia , no t i f i ca t ion of Francisco intent to engage in de novo ac t i v i t i es (acting as agent, broker

or adviser in leasing motor vehicles, in accordance with the Board's Requlation Y) in Gardena, Ca l i fo rn ia , serving the State of Ca l i f o rn ia , through i t s subsidiary, Republic Leasing Company (4/24/82) 3/

San Security Pacif ic Corporation, Los Angeles, Ca l i fo rn ia , no t i -Francisco f i ca t ion of intent to engage in de novo ac t i v i t i es (making

or acquiring for i t s own account or for the account of others, loans and extensions of c r e d i t , including making consumer installment personal loans, purchasing consumer installment sales finance contracts, making loans to small businesses and other extensions of c red i t such as would be made by a factoring company or a consumer finance company, and acting as broker or agent for the sale of c red i t l i f e , accident and health insurance) at The Home Off ice Bui lding, 6900 East Camel back Road, Scottsdale, Arizona, serving the State of Arizona, through i t s subsidiary, Security Pacific Finance Corp. (4/19/82) 3/

t j 4(c) (8) no t i f i ca t i on processed by Reserve Bank on hehalf of the Board of Governors under delegated author i ty .


H.2, 1982 No. 17 - 13 -


San U.S. Bancorp, no t i f i ca t i on of intent to engage In de novo Francisco a c t i v i t i e s (making, acquiring and servicing of loans and

other extensions of c red i t , e i ther secured or unsecured, for i t s own account or for the account of others including, but not l imi ted t o , commercial, consumer loans; instalment sales contracts and other forms of receivables; issuing passbook and Investment ce r t i f i ca tes ; making investments as permitted by Colorado Revised Statutes, 11-22-101 to 11-22-517; and acting as insurance agent with regard to credi t l i f e and d i s a b i l i t y Insurance, solely In connection with extensions of c red i t by Cit izens Aurora) at the northeast corner of East l l e f f and South Peria Streets in Aurora, Colorado, serving the area wi th in a three mile radius, through i t s subsidiary, Cit izens Aurora Industr ia l Bank (4/21/82) 3/

37 4(c)(8) no t i f i ca t i on processed by Reserve Bank on behalf of the Board of Governors under delegated author i ty .


H.2, 1982 No. 17 - 14 -

APPLICATIONS RECEIVED

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

New York Chemical Bank, New York, New York. To establish an o f f -s i t e electronic f a c i l i t y at 520 Madison Avenue, Eighteenth Floor, Borough of Manhattan, New York, New York. 2J

Philadelphia Girard Bank, Bala Cynwyd, Pennsylvania. To establish a branch o f f i ce to be located at 115-117 West State Street, Media, Pennsylvania. 27

Philadelphia Girard Bank, Bala Cynwyd, Pennsylvania. To establish an o f f s i t e electronic f a c i l i t y at Germantown Hospital, One Penn Boulevard, Philadelphia, Pennsylvania. 2/

Richmond Bank of V i rg in ia , Richmond, Vi rg in ia. To establish a branch at 1235 Jefferson Davis Highway, Ar l ington, V i rg in ia . 2/

Richmond United Vi rg in ia Bank, Richmond, V i rg in ia . To establish a branch at 7818 Parhain Road, Henrico County, V i rg in ia . 2/

Chicago Chemical Bank and Trust Company, Midland, Michigan. To establish an o f f s i t e electronic f a c i l i t y at Midland Hospital Center, 4005 Orchard Drive, Midland, Michigan. 2/

* * * * *

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

San New Valley Bank of Nevada, Las Vegas, Nevada. 2/ Francisco

San Bank of Milton-Freewater, MiIton-Freewater, Oregon. 2/ Francisco

~2J Application subject to Community Reinvestment Act. The Community Af fa i rs Off icer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1982 No. 17 - 1 5 -

APPLICATIONS RECEIVED-Conti nued

San New Valley Bank of Nevada, Las Vegas, Nevada, to merge Francisco with Valley Bank of Nevada, Las Vegas, Nevada. 2/

Boston The Connecticut Bank and Trust Company, Hartford, Connecticut, to merge with Orange National Bank, Orange, Connecticut. 2/

* * * * *

Applications and Not i f icat ions for International Investments 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

New York Chase Manhattan Overseas Banking Corporation, Newark, Delaware pr ior no t i f i ca t ion of i t s intent to enter into a binding commitment for fur ther investment in Chase Manhattan Bank Luxembourg S.A., Luxembourg.

Chicago Continental I l l i n o i s Corporation, Chicago, I l l i n o i s : requests consent to increase i t s investment in i t s subsidiary, Continental I l l i n o i s Overseas Finance Corporation N.V.

* * * * *

To Establish a U.S. Branch of An Edge Act Corporation Pursuant to Section 25(a) of the Federal Reserve Act

Philadelphia Philadelphia International Bank, New York, New York: to establish branch of f ices in Philadelphia, Pennsylvania and Los Angeles, Cal i fornia and to redsignate the Philadelphia branch as i t s main o f f i ce .

* * * * *

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

Philadelphia Fulton Financial Corporation, Lancaster, Pennsylvania, for approval to acquire 100 percent of the voting shares of Fulton Bank, Harrisburg, Pennsylvania.

2/ Application subject to Community Reinvestment Act. The Community A f fa i rs Off icer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1982 No. 17 16

APPLICATIONS RECEIVED-Continued

Atlanta Dixie Bancorp Inc . , Miami, Flor ida, for approval to acquire 100 percent of the voting shares of Dixie Financial Services Inc. , Miami, Flor ida, and ind i rec t ly acquire at least 80 percent of the voting shares of Dixie National Bank of Dade County, N.A., Miami, Flor ida. _2/

Atlanta Dixie Financial Services Inc . , Miami, Flor ida, for approval to acquire at least 80 percent of the voting shares of Dixie National Bank of Dade County, N.A., Miami, Flor ida. 2)

Chicago AMERICAN - DEKALB BANCORP, INC., De Kalb, I l l i n o i s , for approval to acquire 100 percent of the voting shares (less di rectors ' qual i fy ing shares) of The American National Bank of De Kalb, Oe Kalb, I l l i n o i s . 2/

Chicago Decorah State Bank Holding Co., Decorah, Iowa, for approval to acquire 100 percent of the voting shares of the successor by merger to Decorah State Bank, Decorah, Iowa. 2/

Chicago ELGIN STATE BANCORP, INC., Elg in, I l l i n o i s , for approval to acquire at least 80 percent of the voting shares of The Elgin State Bank, Elgin, I l l i n o i s . 2/

Chicago Lancaster Bancshares, Inc . , Lancaster, Wisconsin, for approval to acquire at least 80 percent of the voting shares of Lancaster State Bank, Lancaster, Wisconsin. 2J

Chicago PARKE BANCORP, Rockvi l ie, Indiana, for approval to acquire 100 percent of the voting shares (less d i rectors ' qual i fy ing shares) of the successor by merger to The Parke State Bank, Rockvi l ie, Indiana. 2/

Chicago Southern Wisconsin Bancshares Corporation, Mineral Point, Wisconsin, fo r approval to acquire at least 90 percent or more of the voting shares of Farmers Savings Bank, Mineral Point, Wisconsin, j?/

Chicago Suburban Bancorp, Inc . , Palatine, I l l i n o i s , a Delaware corporation for approval to acquire at least 80 percent of the voting shares of Suburban Bancorp, Inc. , Palatine, I l l i n o i s , an I l l i n o i s corporation, (Palatine National Bank); SUBPAL BANCORP, INC., Palat ine, I l l i n o i s (Suburban National Bank of Palat ine); Cary-Grove Bancorp, Cary, I l l i n o i s (Suburban Bank of Cary-Grove); Hoffman Bancorp, Inc . , Hoffman Estates, I l l i n o i s (Suburban Bank of Hoffman-Schaumburg); Meadows Bankcorp, Inc. , Roll ing Meadows, I l l i n o i s (Suburban Bank of Rol l ing Meadows); ELK GROVE BANCORP, INC., Elk Grove Vi l lage, I l l i n o i s (Suburban National Bank of F.Ik Grove V i l lage) ; and WOODFIELD BANCORP, INC., Schaumburg, I l l i n o i s (Suburban National Bank of Woodfield). 2/

| 7 Appl1cation subject to Community Reinvestment Act. The Community ~ A f fa i rs Of f icer of the applicable Reserve Bank may be contacted

as to the length of the comment period.

I


H.2, 1982 No. 17 - 17 -

APPLICATIONS RECEIVED-Cont.nued

St. L iu1s Cabot Bankshares, ln

H.2, 1982 No. 17 - 18 -



Cleveland Union Commerce Corporation, Cleveland, Ohio, for approval to reta in 100 percent of the voting shares of The Fi rst National Bank of Nelsonvi l le, Nelsonvi l le, Ohio. 2/

* * * * *

Richmond

Chicago

Kansas City

Dal las

Dal las

Dal las

Dal las


Jefferson Bankshares, Inc . , Char lo t tesv i l le , V i rg in ia , for approval to acquire 100 percent of the voting shares of F i rs t National Bank of the Valley, the successor by merger to The F i rs t National Bank of Luray, Luray, V i rg in ia . 2/

Hunter Agency, Inc . , Strawberry Point, Iowa, for approval to acquire at least 57.69 percent of the voting shares of Union Bank and Trust Company, Strawberry Point, Iowa. 2/

Industr ial Bancshares, Inc . , Kansas Ci ty , Kansas and Valley View Bancshares, Inc . , Overland Park, Kansas for approval to acquire 7.45 percent each of the voting shares of Security Bancshares, Inc . , Kansas Ci ty , Kansas, and ind i rec t ly Security National Bank of Kansas Ci ty , Kansas Ci ty, Kansas. 2J

Consolidated Bancshares, Inc . , Abilene, Texas, for approval to acquire 100 percent of the voting shares of American National Bank, Wichita Fal ls , Texas, Travis Bank & Trust, Austin, Texas and Western State Bank, Midland, Texas. 2/

Firs t of Austin Bancshares, Inc . , Austin, Texas for approval to acquire 100 percent of the voting shares of F i rs t National Bank of Cedar Park, Cedar Park, Texas. 2/

Harris County Bankshares, Inc. , Houston, Texas, for approval to acquire at least 51 percent of the voting shares of Harris County Bank-Northwest, National Association, Houston, Texas, a proposed new bank. 2/

Mercantile Texas Corporation, Dallas, Texas, for approval to acquire 100 percent of the voting shares of The Merchants and Planters National Bank of Sherman, Sherman, Texas. 2/

2/ Application subject to Community Reinvestment Act. The Community Af fa i rs Off icer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1982 No. 17 - 19 -


Dallas National Bancshares Corporation of Texas, San Antonio, Texas, for approval t o acquire 100 percent of the voting shares of National Bank of Commerce-Wurzbach, San Antonio, Texas, a proposed new bank. 2/

Dallas Republic of Texas Corporation, Dallas, Texas, for approval to acquire 100 percent of the voting shares (less d i rectors ' qual i fy ing shares) of Tyler Bank and Trust Company, Tyler, Texas. 2/

Dallas Texas Commerce Bancshares, Inc . , Houston, Texas, for approval to acquire 100 percent of the voting shares of Texas Commerce Bank-Champions Park, National Association, Houston, Texas, a proposed new bank. 2/

Dallas United Texas Financial Corporation, Wichita Fal ls , Texas, for approval to acquire 100 percent of the voting shares of The Farmers National Bank of Seymour, Seymour, Texas. 2/

San U.S. Bancorp, Portland, Oregon, for approval to acquire 100 Francisco percent of the voting shares of Bank of Milton-Freewater,

MiIton-Freewater, Oregon, a proposed new bank. 2/

* * * * *


St. Louis MidAmerica BancSystem, Inc. , Fairview Heights, I l l i n o i s , for approval to acquire Carbondale Bancshares, Inc . , and ind i rec t ly acquire MidAmerica Bank and Trust Company of Carbondale, Carbondale, I l l i n o i s , I l l i n o i s Bancshares, Inc . , and ind i rec t ly acquire MidAmerica Bank and Trust Company of Mascoutah, Mascoutah, I l l i n o i s , and MidAmerica Bancshares, Inc. , and ind i rec t ly MidAmerica Bank and Trust Company of Lebanon, Lebanon, I l l i n o i s . 2/

Kansas City Commerce Bancshares, Inc . , Kansas Ci ty , Missouri, for approval to merge with Plaza Bancshares, Inc . , Kansas Ci ty , Missouri. 2/

2/ Application subject to Community Reinvestment Act. The Community Af fa i rs Off icer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1982 No. 17 - 2 0 -


Boston

Boston

Boston

New York

New York

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

Fleet Financial Group, Inc . , Providence, Rhode Island, (formerly Industr ia l National Corporation) no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s (the or ig inat ion of loans for the purchase of mobile homes) at 125 East Wells Street, Milwaukee, Wisconsin, serving the State of Wisconsin, through i t s subsidiary, Kensington Mortgage and Finance Corp. (4/20/82)

Fleet Financial Group, Inc . , Providence, Rhode Island (formerly Industr ial National Corporation), no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s ( ( i ) or ig inat ion and sale of resident ial mortgages; ( i i ) or ig inat ion and sale of loans secured by jun ior l iens on residential real estate; ( i i i ) servicing of resident ial mortgage loans and loans secured by jun ior l iens on resident ial real estate; ( iv ) insurance agency for the sale of credi t l i f e and credi t accident and health insurance d i rec t l y related to an extension of credi t ) at Suite 1, 10046 South Western Avenue, Chicago, I l l i n o i s , the service area for the new o f f i ce w i l l be the east central portion of Cook County, I l l i n o i s , through i t s d i rect subsidiary, Mortgage Associates, Inc. (a Rhode Island corporation) (4/20/82)

Old Stone Corporation, Providence, Rhode Island, no t i f i ca t ion of intent to engage in de novo ac t i v i t i es (the or ig inat ion, sale and servicing of f i r s t and second mortgage loans, the sale of credi t l i f e and credi t health and accident insurance offered in connection with extensions of c red i t , which insurance would be reinsured by an a f f i l i a t e , Motor L i fe Insurance Company, Jacksonvi l le, F lor ida; and the sale of casualty insurance on property mortgaged in connection with extensions of credi t ) at Suite 127, 1895 Phoenix Boulevard, College Park, Georgia, serving the southwest metropolitan area of Atlanta and the Georgia counties of Clayton, Fulton, and DeKalb, through i t s subsidiary, DAC Corporation of Georgia (4/20/82)

Barclays Bank Limited, and Barclays Bank International Limited, both of London, England, requests permission to relocate an ex is t ing o f f i ce engaging in the fol lowing ac t i v i t i es (marketing and administering commercial loans secured by accounts receivable, inventory and chattel mortgages, to customers in Texas, Arkansas, Louisiana and New Mexico) from One Main Place, Dallas, Texas, to 3500 Oaklawn Avenue, Dallas, Texas, through the i r subsidiary, BarclaysAmerica/Business Credit , Inc. (4/22/82)

The Chase Manhattan Corporation, New York, New York, requests permission to establish a de novo o f f i ce engaging in the fol lowing a c t i v i t i e s (making or acquir ing, for i t s own account and for the account of others, loans and other extensions of


H.2, 1982 No. 17 - 21 -

APPLICATIONS RECEIVED-Contiriued

c red i t , both secured and unsecured including, but not l imi ted t o , consumer and business lines of c red i t , installment loans for personal, household and business purposes and mortgage loans secured by real property; servicing loans and other extensions of c red i t ; se l l ing travelers checks at r e t a i l ; act ing as insurance agent or broker for credi t l i f e insurance and credi t accident and health insurance d i rec t ly related to such lending and servicing ac t i v i t i e s ) at 5151 East Broadway, Suite 140, Tucson, Arizona, through i t s subsidiary, Chase Manhattan Financial Services, Inc. (4/21/82)

Philadelphia F i rs t Valley Corporation, Bethlehem, Pennsylvania, no t i f i ca t ion of intent to engage in de novo a c t i v i t i e s (the making of com-mercial leases of personal property in accordance with the Federal Reserve Board's RegulationY) at One Bethlehem Plaza, Bethlehem, Pennsylvania, serving Pennsylvania, New York, New Jersey, Delaware and Maryland, through i t s subsidiary, F i rs t Valley Leasing, Inc. (4/19/82)

Richmond NCNB Corporation, Charlotte, North Carolina, no t i f i ca t ion of intent to relocate an o f f i ce of i t s subsidiar ies, TranSouth Financial Corporation of Florida and TransSouth Mortgage Corporation of Flor ida, from 8373 Bird Street to 3901 N.W. 79th Avenue, Miami, Flor ida, and to continue to engage in the fol lowing ac t i v i t i es (making direct loans for consumer and other purposes under the Florida Consumer Finance Act, purchasing r e t a i l installment notes and contracts and acting as agent for the sale of credi t l i f e , c red i t accident and health and physical damage insurance d i rec t l y related to i t s extensions of credi t ) through i t s subsidiary, TransSouth Financial Corporation of F lor ida; and (making di rect loans for consumer and other purposes under the general usury statutes, purchasing re ta i l installment notes and contracts, making direct loans to dealers for the financing of inventory ( f loor planning) and working capi ta l purposes and acting as agent for the sale of credi t l i f e , credi t accident and health and physical damage insurance d i rec t l y related to i t s extensions of credi t ) through i t s subsidiary, TranSouth Mortgage Corporation of Florida (4/19/82)

Chicago Suburban Bancorp, Inc . , Palatine, I l l i n o i s , for approval to engage in cred i t - re la ted insurance and mortgage banking ac t i v i t i es through the acquisi t ion of Brockway Insurance Agency, Inc . , Palat ine, I l l i n o i s , and Suburban Mortgage Corporation, Palat ine, I l l i n o i s .

St. Louis HidAmerica BancSystem, Inc . , Fairview Heights, I l l i n o i s , for approval to acquire 100 percent of the voting shares of Lincoln Tra i l Insurance Agency, Lebanon, I l l i n o i s .


H.2, 1982 No. 17 - 22

Minneapolis

San Francisco

San Francisco

San Francisco

San Francisco


Zappco, Inc. , St. Cloud, Minnesota, for approval to acquire 100 percent of the voting shares of Financomp, Inc. , St. Cloud, Minnesota.

F i rs t Interstate Bancorp, Los Angeles, Cal i fo rn ia , no t i f i ca t ion of intent to engage in de novo a c t i v i t i e s ( in acting as an in-vestment or f inancial adviser to the extent set for th in the Board's Regulation Y) in Reno, Nevada and Las Vegas, Nevada, serving Nevada, Oregon, Cal i fo rn ia , Arizona, Utah, and Idaho, through i t s wholly-owned subsidiary, F i rs t Interstate Investment Advisers of Nevada, Inc. (4/16/82)

Imperial Bancorp, Inglewood, Cal i fo rn ia , no t i f i ca t ion of intent to engage in de novo ac t i v i t i es (making, acquiring or placing loans (pr imari ly insurance premium financing) and other ex-tensions of credi t for i t s own account and for the account of others and servicing such loans and other extensions of cred i t for i t s own account and for the account of others throughout the United States; the company has previously commenced insurance premium finance ac t i v i t i es throughout the States of Alaska, Arizona, Nevada, Oregon and Washington) at 1603 116th Avenue, N.E., Bellevue, Washington; 2910 East Camelback Road, Phoenix, Arizona; 3200 Wilshire Boulevard, Los Angeles, Cal i fornia and 50 Cal i fornia Street, San Francisco, Ca l i fo rn ia , through a wholly owned subsidiary, Imperial Creditcorp (4/19/82)

Old National Incorpora t ion , Spokane, Washington, no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s (making or acquiring, for i t s own account or for the account of others, loans or other extensions of c red i t , secured by real estate mortgages or deeds of t r us t , and the servicing of such loans, and such other ac t i v i t i e s as are incidental to the operations of a mortgage company including, but not l imited to , acting as agent or broker for the sale of morgage redemption l i f e and d i sab i l i t y insurance and property and casualty insurance to be issued in connection with the making, acquiring or servicing of such loans) at 1111 Third Avenue, Suite 1400, Seatt le, Washington, through i t s subsidiary, Bancshares Mortgage Company (4/19/82)

Security Pacif ic Corporation, Los Angeles, Cal i fo rn ia , no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s (making, acquiring and servicing loans and other extensions of c red i t ; se l l ing and issuing investment ce r t i f i ca tes ; and acting as agent for the sale of c red i t - re la ted property insurance, as authorized by Cal i fornia law) at 591 Camino De La Reina, Suite 909, San Diego, Ca l i fo rn ia ; 400 North Tustin, Suite 110, Santa Ana, Cal i fornia and 528 East Main Street, Suite 530, Santa Maria, Ca l i fo rn ia , serving the State of Ca l i fo rn ia , through i t s sub-s id ia ry , Security Pacif ic Finance Money Center Inc. (4/26/82)


17 - 23 -


Security Pacif ic Corporation, Los Angeles, Cal i forn ia , no-t i f i c a t i o n of intent to engage in de novo ac t i v i t i es (making or acquiring for i t s own account or for the account of others, loans and extensions of c red i t , including making consumer installment personal loans, purchasing consumer installment sales finance contracts, making loans to small businesses and other extensions of credi t such as would be made by a factor ing company or a consumer finance company and acting as broker or agent for the sale of credi t - re la ted property from of f ices of Security Pacif ic Finance Corp. and Security Pacif ic Finance Credit Corp.) at 3690 Orange Place, Suite 330, Beachwood, Ohio, serving the State of Ohio, through i t s subsidiaires, Security Pacif ic Finance Corp. and Security Pacif ic Finance Credit Corp. (4/19/82)

U.S. Bancorp, Portland, Oregon, no t i f i ca t ion of intent to engage in de novo a c t i v i t i e s ( in appraisals of commercial and residential real estate for i t s customers and outside c l ients in con-formance with the provisions of Section 225.4(a)(14) of Reg-ulat ion Y) at 555 S.W. Oak Street, Portland, Oregon, serving customers in the Western United States, pr imari ly in the State of Oregon (4/20/82)

U.S. Bancorp, Portland, Oregon, no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s (making, acquiring and servicing of loans and other extensions of credi t secured by real estate mortgages for i t s own account or for the account of others, including, but not l imi ted to , f i r s t and second mortgage loans, commercial, income and business loans; acting as insurance agent with regard to credi t l i f e and d i sab i l i t y insurance solely in connection with extensions of credi t by Creditcorp and to perform real estate appraisals in conformance with the provisions of Section 225.4(a)(1), 225.4(a)(2), 225.4(a) (9) ( i ) (a) , and 225.4(a)(14) of Regulation Y) at Phoenix, Arizona within an area bounded by Thomas Road on the south, McDonald Drive and extension of McDonald Drive on the north, 24th Street on the west and 60th Street on the east, the geographic area to be served w i l l be pr inc ipa l ly Phoenix and Maricopa County, Arizona, through i t s subsidiary, U.S. Creditcorp (4/2/82)

U.S. Bancorp, Portland, Oregon, no t i f i ca t ion of intent to engage in de novo ac t i v i t i e s (making, acquiring and servicing of loans and other extensions of c red i t , ei ther secured or unsecured, for i t s own account or for the account of others including, but not l imi ted t o , consumer loans; installment sales contracts and other forms of receivables; making investments and acting as insurance agent with regard to credi t l i f e and d i sab i l i t y insurance, property and casualty insurance, solely in connection with extensions of credi t by Bancorp Services; Bancorp re l ies upon the relevant provision of Section 225.4(a) of Regulation Y as fol lows: 225.4(a)(1), (2), (3) , and (9 ) ( i ) ( a ) ) at 753-1 El Camino Real, Sunnyvale, Cal i forn ia , the geographic area to


H.2, 1982 No. 17 - 24 -


be served w i l l be pr inc ipa l ly the SMSA defined as Santa Clara County, a primary service area within the SMSA has been indent i f ied as the City of Sunnyvale, through i t s subsidiary, U.S. Bancorp Financial Services, Inc. (4/20/82)

San U.S. Bancorp, Portland, Oregon, no t i f i ca t ion of intent to engage Francisco in de novo ac t i v i t i e s (making, acquiring and servicing of loans

and other extensions of c red i t , e i ther secured or unsecured, for i t s own account or for the account of others including, but not l imi ted to , commercial, consumer loans; installment sales contracts and other forms of receivables; issuing passbook and investment ce r t i f i ca tes ; making investments as permitted by Colorado Revised Statutes 11-22-101 to 11-22-517; and acting as insurance agent with regard to credi t l i f e and d i sab i l i t y insurance solely in connection with exensions of credi t by Grand Junction Indust r ia l ; Bancorp re l ies upon the relevant provision of Section 225.4(a) of Regulation Y as fol lows: 225.4(a)(1), (2) , (3) , and (9) ( i ) ( a ) ) near the intersect ion of 24-1/2 Road and U.S. Highway 6-50 in an unincorporated area of Mesa County near the western c i t y l im i ts of Grand Junction, Colorado, through i t s subsidiary, Grand Junction U.S. Industr ia l Bank (4/23/82)

* * * * *

REPORTS RECEIVED

None.

* * * * *

PETITIONS FOR RULEMAKING

None.


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