42059_1985-1989

Tables 235

19. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1985

Bank of Virginia, Richmond, Virginia, tomerge with Citizens Trust Bank, Portsmouth,Virginia

SUMMARY REPORT BY THE ATTORNEY GENERAL(11/30/84)The proposed transaction would not be signifi-cantly adverse to competition.

BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (1/22/85)Bank of Virginia (Applicant), with assets of$2.8 billion, proposes to merge with CitizensTrust Bank (Bank), with assets of $124 million.

Applicant is a subsidiary of the Bank of Vir-ginia Company (BVA), which controls 7.5 per-cent of deposits in the Norfolk-Portsmouthbanking market. If the proposed merger wereconsummated, BVA would control 11.7 percentof commercial bank deposits in that market.The proposal would have no significantly ad-verse effect on competition.

The proposed merger would not alter the sat-isfactory financial condition of Applicant andBVA. Considerations relating to the conve-nience and needs of the community are consist-ent with approval.

Bank of New York, New York, New York, toacquire the assets and assume the deposit lia-bilities of the Great Neck Branch of HamburgSavings Bank, Brooklyn, New York


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (2/1/85)Bank of New York (Applicant), with assets of$13.2 billion, proposes to acquire the GreatNeck Branch of Hamburg Savings Bank(Branch), with deposits of $29 million.

Applicant is a subsidiary of the Bank of NewYork Company (BONY), which currently con-trols 2.2 percent of commercial bank depositsin the New York banking market. If the pro-posed merger were consummated, BONYwould continue to control 2.2 percent of themarket deposits. The proposal would have nosignificantly adverse effect on competition.

The proposed merger would not alter the sat-isfactory financial condition of Applicant andBONY. The considerations relating to the con-

venience and needs of the community are con-sistent with approval.

Chemical Bank, Cass City, Michigan, to ac-quire the assets and assume the deposit liabili-ties of the Marlette Branch of Peoples StateBank of Caro, Marlette, Michigan


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (2/26/85)Chemical Bank (Applicant), with assets of $25million, proposes to acquire the MarletteBranch (Branch) of Peoples State Bank of Caro.Deposits at Branch amount to $2 million.

The relevant market in the proposal is theSanilac market, in which Branch is located.Applicant is not presently represented there.The acquisition would have no significant effecton competition because Applicant would have asmall share of area deposits.

The banking factors and considerations relat-ing to the convenience and needs of the commu-nity are consistent with approval.

Merchants & Farmers Bank, Columbus,Mississippi, to merge with Tombigbee Bank &Trust Company, Fulton, Mississippi


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/3/85)Merchants & Farmers Bank (Applicant), withassets of $68 million, proposes to merge withTombigbee Bank & Trust Company (Bank),with assets of $24 million.

Applicant does not currently operate officesin the Itawamba County and Tbpelo markets,where Bank's offices are situated, and therewould be no significant effect on competition.

Applicant plans to offer a higher lending limitat the offices now operated by Bank. The con-siderations relating to the convenience andneeds of the community therefore lend weightto approval. Financial factors are consistentwith approval.

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

1985

236 Tables

19. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1985—Continued

Central Bank of the South, Birmingham,Alabama, to acquire certain assets and assumecertain deposits and other liabilities ofbranches of First National Bank of Mobile,and AmSouth Bank, Mobile, AlabamaSUMMARY REPORT BY THE ATTORNEY GENERAL(3/8/85)The proposed transaction would not be signifi-cantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/22/85)Central Bank of the South (Applicant), with as-sets of $3 billion, proposes to acquire certainassets and assume certain deposits and otherliabilities of certain branches (Branches) ofFirst National Bank of Mobile and AmSouthBank, N.A. total deposits of branches to be ac-quired are $113 million. Branches are situatedin the Mobile banking market, and Applicant,which now ranks fifth of nine organizations inthat market, with 7.4 percent of market de-posits, would rank fourth, with 13.7 percent ofmarket deposits. The proposal would have nosignificantly adverse effect on competition.


Farmers & Merchants Bank of Central Cali-fornia, Ledi, California, to acquire certainassets and assume substantially all of the lia-bilities of Golden Valley Bank, Turlock,CaliforniaSUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Requests for reports on thecompetitive factors were dispensed with, as au-thorized by the Bank Merger Act, to permit theReserve Bank to act immediately to safeguarddepositors of Golden Valley Bank.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/22/85)Farmers & Merchants Bank of Central Califor-nia (Applicant), with assets of $301 million,proposes to acquire Golden Valley Bank(Bank), with assets of $73 million.

In view of the financial condition of Bank, theCalifornia superintendent of banks has recom-mended immediate action by the Federal Re-serve System to prevent the probable failure ofBank.

Farmers & Merchants Bank of Long Beach,Long Beach, California, to acquire certain as-sets and assume substantially all of the liabili-ties of Capistrano National Bank, San JuanCapistrano, CaliforniaSUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Requests for reports on thecompetitive factors were dispensed with, as au-thorized by the Bank Merger Act, to permit theReserve Bank to act immediately to safeguarddepositors of Capistrano National Bank.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/8/85)Farmers and Merchants Bank of Long Beach(Applicant), with assets of $691 million, pro-poses to acquire Capistrano National Bank(Bank), with assets of $49 million.

In view of the financial condition of Bank, theComptroller of the Currency has recommendedimmediate action by the Federal Reserve Sys-tem to prevent the probable failure of Bank.

Central Fidelity Bank, Richmond, Virginia,to merge with First National Bank of Poquo-son, Poquoson, VirginiaSUMMARY REPORT BY THE ATTORNEY GENERAL(3/29/85)The proposed transaction would not be signifi-cantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/10/85)Central Fidelity Bank (Applicant), with assetsof $2.9 billion, proposes to merge with FirstNational Bank of Poquoson (Bank), with assetsof $30 million. Applicant is the sole bankingsubsidiary of Central Fidelity Banks, Inc. (Cor-poration).

The relevant market in this proposal is theNewport News-Hampton market, in whichCorporation controls 8.1 percent of deposits. Ifthe proposed merger took place, Corporationwould control 10.3 percent of market deposits.Ten thrift institutions operate offices in thismarket. Overall, the proposal would have nosignificant competitive effects.



1985

Tables 237

19.—Continued

Blue Ridge Bank, Floyd, Virginia, to acquirecertain assets and assume certain deposit liabil-ities of the Christiansburg Branch of Jeffer-son National Bank, Winchester, Virginia


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/16/85)Blue Ridge Bank (Applicant), with assets of$12 million, proposes to acquire a branch(Branch) of Jefferson National,Bank. Depositsat Branch amount to $3 million.

The relevant market in the proposal is ap-proximated by the counties of Montgomery andPulaski plus the independent city of Radford,where Branch holds the smallest share of de-posits held by 11 commercial banking organiza-tions. Because Applicant is not now representedin this market, the proposal would have no sig-nificant effect on competition.

The considerations relating to the conven-ience and needs of the community furnish somesupport for approval because after the acquisi-tion Applicant will provide new or enhancedbanking services at Branch. Financial factorsare consistent with approval.

Johnstown Bank and Trust Company, John-stown, Pennsylvania, to acquire the assets andassume the deposit liabilities of two branchesof Equibank, Pittsburgh, Pennsylvania


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (6/10/85)Johnstown Bank and Trust Company (Appli-cant), with assets of $370 million, proposes toacquire two branches (Branches) of Equibank.Branches have deposits of $24 million.

Branches are in the Greensburg/Latrobebanking market, where they hold 2.2 percent ofmarket deposits. Applicant controls 0.5 percentof market deposits held by 14 banking organiza-tions in this market. Because Applicant wouldcontrol less than 3 percent of market depositsfollowing the acquisition, the proposal wouldhave no significant effect on competition.


Peoples Bank and Trust Company, CedarRapids, Iowa, to acquire certain assets andassume substantially all the liabilities of Ur-banna Savings Bank, Urbanna, Iowa

SUMMARY REPORT BY THE ATTORNEY GENERAL

No report received. Requests for reports on thecompetitive factors were dispensed with, as au-thorized by the Bank Merger Act, to permit theReserve Bank to act immediately to safeguarddepositors of Urbanna Savings Bank.

BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (6/21/85)Peoples Bank and Trust Company (Applicant),with assets of $211 million, proposes to acquireUrbanna Savings Bank (Bank), with assets of$7 million.

In view of the financial condition of Bank, theIowa Department of Banking recommended im-mediate action by the Federal Reserve Systemto prevent the probable failure of Bank.

Pacific Inland Bank, Anaheim, California, toacquire the assets and assume the liabilities ofTown and Country Bank, Seal Beach, Cali-fornia


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (6/28/85)Pacific Inland Bank (Applicant), with assets of$29 million, proposes to acquire Town andCountry Bank (Bank), with assets of $35 mil-lion.

The relevant market in the proposal is theMetropolitan Los Angeles area, in which Appli-cant and Bank are located. Because Applicantwould hold less than 1 percent of deposits in themarket following the acquisition, the proposalwould have no significant effect on competi-tion.



1985

238 Tables


Glenwood State Bank, Glenwood, Iowa, toacquire certain assets and assume certain lia-bilities 0/Mineola State Bank, Mineola, IowaSUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Requests for reports on thecompetitive factors were dispensed with, as au-thorized by the Bank Merger Act, to permit theReserve Bank to act immediately to safeguarddepositors of Mineola State Bank.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (8/6/85)Glenwood State Bank (Applicant), with assetsof $48 million, proposes to acquire certain as-sets and assume certain liabilities of MineolaState Bank (Bank), which has assets of $5.1million. In view of the financial condition ofBank, the Iowa superintendent of banks recom-mended immediate action by the Federal Re-serve System to prevent probable failure ofBank.


Buffalo Bank, Eleanor, West Virginia, tomerge with First Community Bank-Winfield,Winfield, West VirginiaSUMMARY REPORT BY THE ATTORNEY GENERAL(8/2/85)The proposed transaction would not be signifi-cantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (8/12/85)The Buffalo Bank (Applicant), with assets of$28 million, proposes to merge with First Com-munity Bank-Winfield (Bank), with assets of$6 million.

The relevant market in this proposal is ap-proximated by Kanawha and Putnam counties,in which the bank resulting from the mergerwould rank 11th among 19 banking organiza-tions. The proposal would have no significanteffect on competition.


United Counties Trust Company, Elizabeth,New Jersey, to acquire certain assets and as-sume certain liabilities of the Keensburgbranch of United Jersey Bank/Mid State,Hazlet, New Jersey

SUMMARY REPORT BY THE ATTORNEY GENERAL(8/22/85)The proposed transaction would not be signifi-cantly adverse to competition.BASIS FOR APPROVAL BY THE SECRETARY OF THEBOARD (9/23/85)United Counties Trust Company (Applicant),with assets of $910 million, proposes to acquirecertain assets and assume certain liabilities ofthe Keensburg Branch (Branch) of United Jer-sey Bank/Mid State. Branch has deposits of $6million.

The relevant market in the proposal is theAsbury Park market, where Applicant ranksfourth among 14 banking organizations, with8.9 percent of market deposits. Because Branchholds less than 1 percent of market deposits, theacquisition would have no significant effect oncompetition.

The banking factors and the considerationsrelating to the convenience and needs of thecommunity are consistent with approval.

Bayshore Bank of Florida, Miami, Florida,to acquire certain assets and assume substan-tially all of the liabilities ofTower Bank, N.A.,Hialeah Gardens, FloridaSUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Requests for reports on thecompetitive factors were dispensed with, as au-thorized by the Bank Merger Act, to permit theReserve Bank to act immediately to safeguarddepositors of Tower Bank, N.A.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (10/3/85)Bayshore Bank of Florida (Applicant), with as-sets of $35 million, proposes to acquire TowerBank, N.A. (Bank), with assets of $16 million.

In view of the financial condition of Bank, theComptroller of the Currency has recommendedimmediate action by the Federal Reserve Sys-tem to prevent the probable failure of Bank.

Farmers and Merchants Bank of LongBeach, Long Beach, California, to merge withTown and Country Bank, Seal Beach, Cali-forniaSUMMARY REPORT BY THE ATTORNEY GENERAL(10/18/85)The proposed transaction would not be signifi-cantly adverse to competition.


1985

Tables 239

19.—Continued

BASIS FOR APPROVAL BY THE FEDERAL RESERVE

BANK (10/25/85)Farmers and Merchants Bank of Long Beach(Applicant), with assets of $764 million, pro-poses to merge with Town and Country Bank(Bank), with assets of $33 million.

In view of the financial condition of Bank, theCalifornia superintendent of banks has recom-mended immediate action by the Federal Re-serve System to prevent the probable failure ofBank.

Banco de Ponce, Hato Rey, Puerto Rico, toacquire certain assets and assume certain lia-bilities of the Pitkin Avenue Branch of EastNew York Savings Bank, New York, NewYork



BANK (11/1/85)Banco de Ponce (Applicant), with assets of $2billion, proposes to acquire a branch (Branch)of East New York Savings Bank. Deposits atBranch amount to $26 million. The relevantmarket in the proposal is the Metropolitan NewYork area, in which Branch is located and inwhich Applicant is represented. The acquisitionwould not have a significant effect on competi-tion because Applicant would have a smallshare of area deposits.


First Georgia Bank, Atlanta, Georgia, tomerge with Gwinnett Bank & Trust Com-pany, Norcross, Georgia


(11/1/85)The proposed transaction would not be signifi-cantly adverse to competition.


BANK (11/27/85)First Georgia Bank (Applicant), with assets of$649 million, proposes to merge with GwinnettBank & Trust Company (Bank), which has as-sets of $123 million.

Applicant is a subsidiary of First Railroad &Banking Company of Georgia, Augusta, Geor-

gia (Company). Company is the 6th largest of26 banking organizations in the Atlanta bankingmarket, and controls 3.5 percent of market de-posits. Bank ranks 10th, with 0.7 percent ofmarket deposits. In view of the relatively smallsize of Bank in the market, there would be nosignificant competitive effects.


Central Trust Company, Rochester, New\brk, to acquire the assets and assume the lia-bilities of the Hilton, New York, Branch ofChemical Bank, New York, New York



BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (12/31/85)Central Trust Company (Applicant), with assetsof $658 million, proposes to acquire the assetsand assume the deposit liabilities of the Hilton,New York branch (Branch) of Chemical Bank,with deposits of $17 million.

Applicant is a subsidiary of Irving Bank Cor-poration, New York, New York (Company).Company is the fifth largest of 13 banking or-ganizations in the Rochester banking marketand as a result of the acquisition would increaseits market share from 6.0 percent to 6.4 per-cent. The proposal would have no significantcompetitive effects.


Bank of New York, New York, New York toacquire the assets and assume the liabilities ofFidata Trust Company, New York, New York


BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (12/31/85)Bank of New York (Applicant), with assets of$15 billion, proposes to acquire the assets andliabilities of Fidata Trust Company (Bank),with assets of $592 million. Applicant is a sub-sidiary of the Bank of New York Company, and


1985

240 Tables


in view of the size and number of banking alter-natives in the Metropolitan New York market,competitive considerations with respect to thisapplication are consistent with approval.


Mergers Approved Involving Wholly OwnedSubsidiaries of the Same Bank HoldingCompanyThe following transactions involve banks that

are subsidiaries of the same bank holding com-pany. In each case the summary report by theattorney general indicates that the transactionwould not have a significantly adverse effect oncompetition because the proposed merger is es-sentially a corporate reorganization. The Boardof Governors, the Federal Reserve Bank, or theSecretary of the Board of Governors, whicheverapproved the application, determined that thecompetitive effects of the proposed transaction,the financial and managerial resources and theprospects of the banks concerned, and the con-venience and needs of the community to beserved were consistent with approval.

Name of bank, type of transaction,and other banks involved '

Norstar Bank of Upstate N e w York, Albany, New YorkMergerOneida National Bank, Utica, New York

Ohio Citizens Bank, Toledo, OhioMergerTwo branches of BancOhio National Bank, Columbus, Ohio.. .

Gravois Bank, St. Louis County, MissouriMergerGravois Bank at Mehlville, St. Louis County, Missouri

Valley Bank and Trust Company, Salt Lake City, UtahMergerBountiful Valley Bank, Bountiful, UtahWeber Valley Bank, Ogden, Utah

Colonial Bank, Montgomery, AlabamaMergerColonial Bank of Opp, N.A., Opp, Alabama

First Virginia Bank of Tidewater, Norfolk, VirginiaMergerFirst Virginia Bank-Eastern Shore, Onancock, Virginia

First Georgia Bank, Atlanta, GeorgiaMergerFirst Georgia Bank, Cobb County, Marietta, GeorgiaCommercial & Exchange Bank, Bremen, Georgia

Peoples Bank of Leslie, Leslie, MichiganMergerIndependent Bank-South Michigan, Olivet, Michigan

Assets(millions of

dollars)

Date ofapproval

1,488

939

744

43

245

14

636

16

24

75

18

249

60

448

125

25

34

10

2/25/85

2/28/85

3/21/85

3/25/85

4/19/85

6/4/85

6/11/85

6/20/85


1985

Tables 241

19.—Continued

Name of bank, type of transaction,and other banks involved '

Wheeling Dollar Savings and Trust Company, Wheeling,West VirginiaMergerWheeling Dollar Bank, Wheeling,West Virginia

M&I Marshall & Ilsley Bank, Milwaukee, WisconsinMergerH e r i t a g e B a n k , W a u w a t o s a , W i s c o n s i n

F i r s t Inters ta te B a n k o f C a l i f o r n i a , L o s A n g e l e s , C a l i f o r n i a . . . .MergerWarner Center Branch of First Interstate Bank, Ltd., Los AngelesCalifornia

Fifth Third Bank, Cincinnati, OhioMergerFifth Bank of Miami Valley, Kettering, Ohio

Toledo Trust Company, Toledo, OhioMergerSociety National Bank of Northwest Ohio, Fostoria, Ohio

Trustcorp Company, Columbus, OhioMergerSociety National Bank of Mid-Ohio, Bucyrus, Ohio

1st Source Bank, South Bend, IndianaMerger1st Source Bank of Marshall County, Plymouth, Indiana

Fifth Third Bank of Columbus, Columbus, OhioMergerFayette County Bank, Jeffersonville, Ohio

Princeton Bank, Princeton, New JerseyMergerBank of New Jersey, N.A., Moorestown, New Jersey

Manufacturers Hanover Trust Company, New York, New York..MergerManufacturers Hanover, N.A., Rochester, New York

Citizens State Bank, Silverton, OhioMergerC.S. Bank, Silverton, Silverton, Ohio

Georgia Railroad Bank & Trust Company, Augusta, Georgia . . .MergerGeorgia State Bank, Martinez, Georgia

Assets(millions of

dollars)Date ofapproval

209

21

1,896

464

17,481

3

1,875

49

1,863

277

48

69

809

153

20

34

421

615

61,000

595

39

( 2

607

57

6/21/85

8/7/85

8/28/85

9/18/85

9/26/85

9/26/85

10/4/85

10/22/85

10/22/85

10/30/85

11/22/85

11/27/85


1985

242 Tables


Name of bank, type of transaction,and other banks involved1

Georgia Railroad Bank & Trust Company, Augusta, Georgia . . .MergerWashington Loan & Banking Company, Washington, Georgia...

Comerica Bank, Detroit, MichiganMergerComerica Bank, N.A., Grosse Pointe, Michigan

Continental Bank and Trust Company, Salt Lake City, UtahMergerMoore Financial of Utah, Salt Lake City, Utah

Assets(millions of

dollars)

Date ofapproval

607 11/27/85

48

7,115 11/27/85

46

281 11/27/85

( 2 )

1. Each proposed transaction was to be effectedunder the charter of the first-named bank. The entriesare in chronological order of approval.

2. A newly organized bank, not in operation.

Mergers Approved Involving a NonoperatingInstitution with an Existing BankThe following transactions have no significanteffect on competition: they merely facilitate theacquisition of the voting shares of a bank orbanks by a holding company. In such cases thesummary report by the attorney general indi-cates that the transaction will merely combinean existing bank with a nonoperating institu-tion; in consequence, and without regard to theacquisition of the surviving bank by the holding

company, the merger would have no effect oncompetition. The Board of Governors, the Fed-eral Reserve Bank, or the Secretary of theBoard of Governors, whichever approved theapplication, determined that the proposalwould, in itself, have no adverse competitiveeffects and that the financial factors and consid-erations relating to the convenience and needsof the community were consistent with ap-proval.


Cortland Interim Bank, Cortland, OhioMergerCortland Savings & Banking Company, Cortland, Ohio

Wheeling Interim BankMergerHalf Dollar Trust and Savings Bank, Wheeling, West Virginia . .

New Bank of Hartsville, Hartsville, South CarolinaMergerBank of Hartsville, Hartsville, South Carolina

Metamora Interim Bank, Metamora, OhioMergerMetamora State Bank, Metamora, Ohio

Assets(millions of

dollars)Date of

approval

( 2 ) 2/28/85

162

( 2 ) 4/1/85

67

( 2 ) 4/12/85

56

( 2 ) 4/16/85

13


1985

Tables 243

19.—Continued


New Belknap Bank, Belmont, New HampshireMergerBelknap Bank & Trust Company, Belmont, New Hampshire

Ponce Interim Bank, Ponce, Puerto RicoMergerBanco de Ponce, Ponce, Puerto Rico

Farmers Interim Bank, Pomeroy, OhioMergerFarmers Bank and Savings, Pomeroy, Ohio

First Virginia Bank-South Hill, South Hill, VirginiaMergerCitizens Bank, Inc., South Hill, Virginia

First Interim Bank, Arlington, VirginiaMergerFirst Commercial Bank, Arlington, Virginia

First Virginia Bank-Hanover, Ashland, VirginiaMergerFirst Virginia Bank-Colonial, Richmond, Virginia

George Mason Interim Bank, Fairfax, VirginiaMergerGeorge Mason Bank, Fairfax, Virginia

Mobile County Bank, Grand Bay, AlabamaMergerFirst National Bank of Mobile, Grand Bay, Alabama

ATS State Bank, Dubuque, IowaMergerAmerican Trust and Savings Bank, Dubuque, Iowa

Shawsville Interim Bank, Inc., Shawsville, VirginiaMergerBank of Shawsville, Shawsville, Virginia

LSB Bank, Linden, IndianaMergerLinden State Bank, Linden, Indiana

Fidelity Bank Northeast, Minneapolis, MinnesotaMergerFidelity Bank and Trust Company, Minneapolis, Minnesota

Assets(millions of

dollars)

Date ofapproval

42

1,952

44

146

46

148

86

168

203

28

20

159

4/26/85

5/6/85

5/14/85

5/15/85

5/28/853

6/4/85

6/17/85

7/25/85

8/9/85

8/12/85

8/20/85

8/29/85


1985

244 Tables


Name of bank, type of transaction,and other banks involved !

Assets(millions of

dollars)

Date ofapproval

Society Bank of Northwest Ohio, Port Clinton, OhioMergerThree branches of Society National Bank of Northwest Ohio,Fosteria, Ohio

CBT Interim Bank, Fruit Heights, OhioMergerContinental Bank and Trust Company, Salt Lake City, Utah . . .

Apple Country Bank, Charlottesville, VirginiaMergerAlbemarle Bank and Trust Company, Charlottesville, Virginia .

Bibb Interim Bank, West Blocton, AlabamaMergerFirst State Bank of Bibb County, West Blocton, Alabama

New Independence Bank, Piano, TexasMergerIndependence Bank, Piano, Texas

Green Valley Bank, Inc., Bluefield, West VirginiaMergerValley Bank and Trust Company, Bluefield, West Virginia.

M.B. Bank, Minerva, OhioMergerMinerva Banking Company, Minerva, Ohio.

First Virginia Bank-Southside, Farmville, Virginia . . .MergerFirst National Bank of Farmville, Farmville, Virginia ,

First Virginia Bank-Middle Peninsula, Urbanna,VirginiaMergerBank of Middlesex, Urbanna, Virginia

Citizens Interim Bank, Ocala, FloridaMergerCitizens First Bank of Ocala, Ocala, Florida.

ONB Merger Bank, Greencastle, IndianaMergerFirst Citizens Bank and Trust Company, Greencastle, Indiana

Peoples Interim Bank, Van Wert, OhioMergerPeoples Bank and Trust Company, Van Wert, Ohio

55

2,722

17

11

42

13

35

96

68

51

78

56

9/26/85

9/27/85

10/2/85

10/4/85

10/21/85

10/25/85

10/25/85

10/30/85

10/30/85

11/13/85

11/29/85

12/10/85


1985

Tables 245

19.—Continued

Name of bank, type of transaction,and other banks involved l

Monroe County Bank, Monroeville, AlabamaMergerFirst Nat iona l B a n k o f M o n r o e v i l l e , M o n r o e v i l l e , A l a b a m a . . . .

Gassaway Inter im B a n k , I n c . , Gassaway, West V irg in iaMergerBank of Gassaway, Gassaway, West Virginia

Boca Interim Bank, Boca Raton, FloridaMergerB o c a B a n k , B o c a Raton , F lor ida

Beaver Trust C o m p a n y Inter im B a n k , Beaver , Pennsy lvan ia . . . .MergerBeaver Trust Company, Beaver, Pennsylvania

Sun Bank/Suncoast, N.A., St. Petersburg, FloridaMergerSun Bank of Tampa Bay, Florida

Assets(millions of

dollars)

Date ofapproval

43 12/12/85

19

( 2 ) 12/12/85

47

( 2 ) 12/16/85

38

( 2 ) 12/18/85

152

541 12/19/85

506

1. Each proposed transaction was to be effected underthe charter of the first-named bank. The entries are inchronological order of approval.

2. A newly organized bank, not in operation.3. Application denied by the Board.


1985

Tables 253

19. Mergers, Consolidations, and Acquisitions of Assets or Assumptions ofLiabilities Approved by the Board of Governors, 1986

Colonial Bank, Montgomery, Alabama, to mergewith Luverne Bank and Trust Company, Lu-verne, Alabama

SUMMARY REPORT BY THE ATTORNEY GENERAL(12/6/85)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (1/8/86)Colonial Bank (Applicant) has assets of $102million, and Luverne Bank and Trust Com-pany (Bank) has assets of $31 million. Ap-plicant and Bank are not located in the samemarket, and the proposal would have no sig-nificant effect on competition.

The banking factors and considerations re-lating to the convenience and needs of the com-munity are consistent with approval.

The Suburban Bank, Richmond, Virginia, tomerge with Virginia Capital Bank, Richmond,Virginia

SUMMARY REPORT BY THE ATTORNEY GENERAL(2/6/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (2/5/86)The Suburban Bank (Applicant) has assets of$13.2 million, and Virginia Capital Bank hasassets of $23.4 million. Although Applicant andBank compete in the Richmond banking mar-ket, the proposal would have no significant ef-fect on competition. The resulting bank's proforma market share would be only 0.5 percent.


Shelby County State Bank, Shelbyville, Illinois,to merge with Windsor State Bank, Windsor,Illinois

SUMMARY REPORT BY THE ATTORNEY GENERAL(10/10/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/4/86)Shelby County State Bank (Applicant) has as-sets of $52.6 million, and Windsor State Bank(Bank) has assets of $11.5 million. Applicantand Bank are not in the same banking market.Thus, no adverse competitive factors exist.


Norstar Bank of Upstate New York, Albany,New York, to acquire six branches of The Bankof New York, New York, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(1/24/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/18/86)Norstar Bank of Upstate New York (Appli-cant) has assets of $2.7 billion, and six branchesof The Bank of New York (Branches) haveassets of $220 million. Applicant and Branchesare both located in the Syracuse market; how-ever, the Herfindahl-Hirschman index willincrease only 18 points to 1850, and thus noadverse competitive factors exist.


City Bank and Trust Company, Moberly, Mis-souri, to acquire certain assets and insured de-posits of Farmers and Merchants Bank ofHuntsville, Huntsville, Missouri

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on thecompetitive factors was dispensed with, as au-thorized by the Bank Merger Act, to permitthe Federal Reserve System to act immediatelyto safeguard depositors of Farmers and Mer-chants Bank.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (3/31/86)City Bank and Trust Company (Applicant) hasassets of $108.2 million, and Farmers and Mer-chants Bank of Huntsville (Bank) has assets of$18.8 million.

The FDIC has recommended immediate ac-tion by the Federal Reserve System to preventthe probable failure of Bank.

American Trust and Savings Bank, Dubuque,Iowa, to acquire certain assets and liabilities ofThe National Bank, Dyers ville, Iowa

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report onthe competitive factors was dispensed with,as authorized by the Bank Merger Act, to per-


1986

254 Tables

19. Mergers, Consolidations, and Acquisitions of Assets or Assumptions ofLiabilities Approved by the Board of Governors, 1986—Continued

mit the Federal Reserve System to act imme-diately to safeguard depositors of The NationalBank.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/10/86)American Trust and Savings Bank (Applicant)has assets of $246 million, and The NationalBank (Bank) has assets of $41.6 million.

The Comptroller of the Currency has rec-ommended immediate action by the FederalReserve System to ensure continuation of Bank'sservices.

Georgia Railroad Bank & Trust Company, Au-gusta, Georgia, to merge with Bank of Waynes-boro, Waynesboro, Georgia

SUMMARY REPORT BY THE ATTORNEY GENERAL(4/16/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/22/86)Georgia Railroad Bank & Trust Company(Applicant) has assets of $753.6 million, andBank of Waynesboro (Bank) has assets of $43.4million. Applicant and Bank operate in sepa-rate banking markets.


Norstar Bank of Upstate New York, Albany,New York, to assume the assets and liabilitiesof the Greenwich branch of Chemical Bank,New York, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(4/25/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (4/25/86)Norstar Bank of Upstate New York (Appli-cant), with assets of $2.7 billion, proposes toassume $11.7 million in assets and $11.6 millionin liabilities of the Greenwich branch of Chem-ical Bank (Bank). Applicant and Bank operatein the Glen Falls banking market. On a proforma basis, Applicant will control 12.3 per-cent of the commercial banking deposits in themarket. The Herfindahl-Hirschman index willincrease only 47 points. Consummation of the

proposal would have no significant effect oncompetition.


Manufacturers Hanover Trust Company, NewYork, New York to acquire certain assets andassume certain liabilities of six branches of Dol-lar Dry Dock Savings Bank, White Plains, NewYork

SUMMARY REPORT BY THE ATTORNEY GENERAL(3/28/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (5/8/86)Manufacturers Hanover Trust Company (Ap-plicant), with assets of $62.3 billion, proposesto acquire $333 million in assets and assume$354 million in liabilities of six branches of Dol-lar Dry Dock Savings Bank (Branches). BothApplicant and Branches are located in the met-ropolitan New York banking market. Appli-cant is ranked third in the market, with 8.1percent of market deposits. On a pro formabasis, Applicant's market share will increase to8.3 percent, and Applicant will remain the thirdlargest banking organization in the market.


First Community Bank, Inc., Princeton, WestVirginia, to merge with First Community Bank-Castle Rock, Pineville, West Virginia

SUMMARY REPORT BY THE ATTORNEY GENERAL(5/2/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (5/23/86)First Community Bank, Inc. (Applicant) hasassets of $136 million, and First CommunityBank-Castle Rock (Bank) has assets of $56million. Applicant and Bank are not located inthe same market, and the proposal would haveno significant effect on competition.



1986

Tables 255

Indiana Southern Bank, Sellersburg, Indiana,to acquire United Bank of Indiana, N.A.,Clarksville, Indiana

SUMMARY REPORT BY THE ATTORNEY GENERAL(5/2/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (6/26/86)Indiana Southern Bank (Applicant) has assetsof $82.4 million, and United Bank of Indiana,N.A. (Bank), has assets of $38 million. Ap-plicant and Bank operate in the Louisvillebanking market, and each controls less than 2percent of the commercial banking deposits inthe market. Although Applicant, combined withother commercial banking deposits controlledby its parent holding company, would controlslightly more than 30 percent of the marketdeposits, thrift institutions offer substantialcompetition to commercial banks. No signifi-cant adverse competitive effects arise from thetransaction.


The Bank of New York, New York, New York,to acquire certain assets and assume certain li-abilities of three branches of The Home SavingsBank, Brooklyn, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(5/2/86)The proposed transaction will not have a sig-nificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (7/2/86)The Bank of New York (Applicant), with as-sets of $17.2 billion, proposes to acquire assetsof $1.4 million and liabilities of $79 million ofthree branches of The Home Savings Bank(Branches). Applicant and Branches operatein the metropolitan New York-New Jerseybanking market. The pro forma market shareis 2.4 percent. The proposal would have nosignificant effect on competition.


Ireland Bank, Malad City, Idaho, to acquire allthe assets and liabilities of Downey State Bank,Downey, Idaho

SUMMARY REPORT BY THE ATTORNEY GENERAL(7/7/86)No existing competition of significance will beeliminated by the proposed transaction.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (8/15/86)Ireland Bank (Applicant) has assets of $25.2million, and Downey State Bank (Bank) hasassets of $18.1 million. The Director of theIdaho Department of Finance has recom-mended immediate action by the Federal Re-serve System to prevent the probable failureof Bank.


Norstar Bank of Upstate New York, Albany,New York, to purchase assets and assume lia-bilities of three branches of Citibank (New YorkState), N.A., Buffalo, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(9/12/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (10/1/86)Norstar Bank of Upstate New York (Appli-cant), with assets of $2.7 billion, proposes topurchase assets of $1 million and assume lia-bilities of $42 million of three branches ofCitibank (New York State), N.A., in the Al-bany banking market. Applicant's resulting in-crease in market share in the Albany area iswell within Justice Department and Boardguidelines.


Security Savings Bank, Mars hall town, Iowa, toacquire certain assets and liabilities of The FirstNational Bank of Prairie City, Prairie City, Iowa

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on thecompetitive factors was dispensed with, as au-thorized by the Bank Merger Act, to permit


1986

256 Tables


the Federal Reserve System to act immediatelyto safeguard depositors of The First NationalBank of Prairie City.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (7/24/86)Security Savings Bank (Applicant) has assetsof $163.3 million, and The First National Bankof Prairie City (Bank) has assets of $8.7 mil-lion.

The Comptroller of the Currency has re-quested immediate action by the Federal Re-serve System to ensure continuation of Bank'sservices.

Banco de Ponce, Ponce, Puerto Rico, to acquirecertain assets and assume certain liabilities oftwo branches of The East New York SavingsBank, New York, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(9/26/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (10/10/86)Banco de Ponce (Applicant), with assets of $2.3billion, proposes to acquire certain assets andassume certain liabilities of two branches ofThe East New York Savings Bank (Bank), withassets of $1.4 billion. Both Applicant and Bankare in the metropolitan New York-New Jerseybanking market. As a result of this acquisition,Applicant's market share of 0.1 percent willremain unchanged. Consummation would re-sult in no significant adverse competitive ef-fects.


Imperial Bank of Florida, Coral Gables, Flor-ida, to acquire certain assets and assume certainliabilities of the Hialeah branch of Popular Bankof Florida, Miami, Florida

SUMMARY REPORT BY THE ATTORNEY GENERAL(7/25/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (10/14/86)Imperial Bank of Florida (Applicant), with as-sets of $18.0 million, proposes to acquire $12.5

million in assets from the Hialeah branch ofPopular Bank of Florida (Bank), with totalbanking assets of $71.2 million. Both Applicantand Bank are in the Miami-Fort Lauderdalebanking market. As a result of this acquisition,the Herfindahl-Hirschman index will remainunchanged at 909. Thus, no significant adversecompetitive effects exist.


Norstar Bank of Upstate New York, Albany,New York, to merge with Seaway National Bank,Watertown, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(9/12/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (11/14/86)Norstar Bank of Upstate New York (Appli-cant) has assets of $3.2 billion, and SeawayNational Bank (Bank) has assets of $25.8 mil-lion. Applicant does not currently operate inBank's market, and no issues are raised withrespect to competition. Thus, the proposedtransaction would have no adverse competitiveeffects.


United Virginia Bank, Richmond, Virginia, tomerge with People's Bank of Chesapeake, Ches-apeake, Virginia

SUMMARY REPORT BY THE ATTORNEY GENERAL(10/17/86)The proposed transaction would not have asignificantly adverse effect on competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (11/3/86)United Virginia Bank (Applicant) has assets of$6.9 billion, and People's Bank of Chesapeake(Bank) has assets of $80 million. Applicant andBank compete in the areas of Norfolk-Ports-mouth, Virginia, and Currituck County, NorthCarolina, with Applicant ranked second andBank ranked eighth among 16 banks in themarket. Applicant would remain the secondlargest bank in the market with 16.7 percentof commercial banking deposits.


1986

Tables 257


First Interstate Bank of California, Los Ange-les, California, to acquire the assets and assumethe liabilities of First National Bank, Willows,CaliforniaSUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on thecompetitive factors was dispensed with, as au-thorized by the Bank Merger Act, to permitthe Federal Reserve System to act immediatelyto safeguard depositors of First National Bank.BASIS FOR APPROVAL BY THE BOARD (11/21/86)First Interstate Bank of California (Applicant)has assets of $20.6 billion, and First NationalBank (Bank) has assets of $65 million.

The Comptroller of the Currency has rec-ommended immediate action by the FederalReserve System to ensure continuation of Bank's

First Virginia Bank-Citizens, Clintwood, Vir-ginia, to merge with Peoples Bank of Pound,Pound, VirginiaSUMMARY REPORT BY THE ATTORNEY GENERAL(11/21/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (11/28/86)First Virginia Bank-Citizens (Applicant) hasassets of $28.7 million, and Peoples Bank ofPound (Bank) has assets of $45.9 million. Ap-plicant and Bank are not located in the samemarket, and the proposal would have no sig-nificant effect on competition.


Security Bank, Marshalltown, Iowa, to pur-chase the assets and liabilities o/Hawkeye Bank& Trust, Eldora, IowaSUMMARY REPORT BY THE ATTORNEY GENERAL(11/21/86)The proposed transaction would not be signif-icantly adverse to competition.BASIS FOR APPROVAL BY THE FEDERAL RESERVEBANK (12/30/86)Security Bank (Applicant) has assets of $188million, and Hawkeye Bank & Trust (Bank)has assets of $16.5 million. Applicant and Bankare not located in the same market, and theproposal would have no significant effect oncompetition.


Mergers Approved Involving Wholly OwnedSubsidiaries of the Same Bank Holding Com-panyIn each of the following cases, the summaryreport by the attorney general indicates thatthe transaction would not have a significantlyadverse effect on competition because the pro-posed merger is essentially a corporate reor-ganization. The Board of Governors, the Fed-eral Reserve Bank, or the Secretary of the Boardof Governors, whichever approved the appli-cation, determined that the competitive effectsof the proposed transaction, the financial andmanagerial resources and the prospects of thebanks concerned, and the convenience andneeds of the community to be served were con-sistent with approval.

Institution1Assets

(millions ofdollars)

Date ofapproval

Commerce Union Bank, Nashville, TennesseeMergerCommerce Union Bank of Humphreys County, Waverly,

TennesseeCommerce Union Bank of Rutherford County, Murfreesboro

TennesseeCommerce Union Bank of Sumner County, Gallatin,

Tennessee

1,956

48

118

79

3/7/86


1986

258 Tables

19. Mergers, Consolidations, and Acquisitions of Ass;Liabilities Approved by the Board of Governors.

t̂s or Assumptions of1986—Continued

Institution1Assets


Date ofapproval

The Toledo Trust Company Three Sea Gate, Toledo, Ohio...MergerFirst Buckeye Bank, N.A., Mansfield, Ohio

The Merrill Trust Company, Bangor, Maine.MergerMerrill Bank, N.A., Farmington, Maine

The Central Trust Company, Newark, OhioMergerThe Clear Creek Valley Banking Company, Amanda, Ohio ..

Security Bank & Trust Company, Southgate, MichiganMergerSecurity Bank & Trust Company of Oakland County, Novi,

Michigan

State Bank of Carthage, Carthage, IndianaMergerThe First National Bank of Mays, Mays, Indiana

Ohio Citizens Bank, Toledo, OhioMergerThe Citizens National Bank, Bryan, Ohio.

First Source Bank, South Bend, IndianaMergerCommunity State Bank, North Liberty, Indiana.

Rocky Mountain State Bank, Salt Lake City, UtahMergerRocky Mountain State Bank of Bountiful, Bountiful, Utah ..

Mercantile Bank & Trust Company, Kansas City, Missouri..MergerNoland Road Mercantile Bank, Independence, MissouriMercantile Regional Bank, Kansas City, MissouriMercantile National Bank of Clay County, Kansas City,

Missouri

Old Kent Bank of Kalamazoo, Kalamazoo, MichiganMergerThe American National Bank in Portage, Portage, MichiganThe American National Bank & Trust Company

of Michigan, Kalamazoo, Michigan

Old Kent Bank-Southwest, Niles, MichiganMergerThe American Bank of Niles, N.A., Niles, Michigan.

2,184

833

665

108

367

15

1,100

50

11

9

773

134

827

19.7

15

13

237

138164

31

28

33

420

258

25

3/25/86

3/31/86

5/27/86

6/19/86

6/23/86

7/8/86

8/15/86

8/29/86

9/25/86

10/1/86

10/2/86


1986

Tables 259

Institution1Assets


Date ofapproval

Norstar Bank, Rochester, New YorkMergerNorstar Bank of Upstate New York, Albany, New York .

Hawkeye-Capital Bank & Trust Company, Des Moines, Iowa.MergerHawkeye Bank and Trust of Des Moines, Des Moines, Iowa...

Silicon Valley Bank, San Jose, CaliforniaMergerNational Intercity Bank, Santa Clara, California .

Commerce Union Bank, Nashville, TennesseeMergerCommerce Union Bank of Lawrence County, Lawrenceburg,

Tennessee

Security Bank of Richmond, Richmond, Michigan.MergerSecurity Bank Imlay City, Imlay City, Michigan ...

First Virginia-Commonwealth, Grafton, Virginia.MergerFirst Virginia Bank-Surry, Surry, Virginia

The Merchants Bank, Kansas City, Missouri.MergerThe Bank of Kansas City, Kansas CityWestport Bank, Kansas City, Missouri

1,682

1,043

107

61

101

54

1,956

64

83

40

37

17

963

11484

10/10/86

10/16/86

10/31/86

11/18/86

11/25/86

12/1/86

12/15/86

1. Each proposed transaction was to be effected are in chronological order of approval,under the charter of the first-named bank. The entries

Mergers Approved Involving a NonoperatingInstitution with an Existing Bank

The following transactions have no significanteffect on competition; they merely facilitatethe acquisition of the voting shares of a bankor banks by a holding company. In such casesthe summary report by the attorney generalindicates that the transaction will merely com-bine an existing bank with a nonoperating in-stitution; in consequence, and without regard

to the acquisition of the surviving bank by theholding company, the merger would have noeffect on competition. The Board of Gover-nors, the Federal Reserve Bank, or the Sec-retary of the Board of Governors, whicheverapproved the application, determined that theproposal would, in itself, have no adverse com-petitive effects, and that the financial factorsand considerations relating to the convenienceand needs of the community were consistentwith approval.

Institution1Assets

(millions ofdollars)2

Date ofapproval

Shelbyville Interim BankMergerShelby County State Bank, Shelbyville, Illinois. 50

3/4/86


1986

260 Tables


Institution1Assets


Date ofapproval

B.N.S. Bank, Northbrook, IllinoisMergerBank of the North Shore, Northbrook, Illinois .

The New Waterford Interim Bank, New Waterford, OhioMergerThe New Waterford Bank, New Waterford, Ohio

The Bel Air Bank, Bel Air, Maryland .MergerCommercial Bank, Bel Air, Maryland .

PCB Company, Hurricane, West VirginiaMergerPutnam County Bank, Hurricane, West Virginia.

New First Union Bank and Trust Company, Medaryville,Indiana

MergerFirst Union Bank and Trust Company, Winamac, Indiana

FIBC Service Bank III, Howe, Indiana.MergerState Bank of Lima, Howe, Indiana

Central Virginia Bank, Powhatan, VirginiaMergerCommunity Bank of Powhatan, Powhatan, Virginia.

Barbour Interim Bank, Philippi, West Virginia.MergerBarbour County Bank, Philippi, West Virginia.

Beach Bank, Seabrook, New HampshireMergerSeabrook Bank & Trust Company, Seabrook,

New Hampshire

Lake view Interim Bank, Lake view, Michigan.MergerBank of Lake view, Lake view, Michigan

New Lowell State Bank, Lowell, Michigan.MergerState Savings Bank, Lowell, Michigan

Traders Interim Bank, Spencer, West Virginia .MergerTrader Bank, Spencer, West Virginia

32

46

122

128

476

31

31

36

44

50

67

63

3/11/86

3/27/86

4/21/86

6/5/86

6/19/86

8/5/86

8/28/86

9/15/86

9/26/86

10/29/86

11/25/86

11/26/86


1986

Tables 261

19. — Continued

Institution

The Lunenburg County Bank, Kenbridge, VirginiaMergerCommunity Bank of Lunenburg, Kenbridge, Virginia

Assets(millions of

dollars)2Date ofapproval

12/1/86

24

1. Each proposed transaction was to be effectedunder the charter of the first-named bank. The entriesare in chronological order of approval.

2. In each case, the first-named bank is newly or-ganized and not in operation.


1986

Tables 247


Security Bank, Marshalltown, Iowa, to acquirecertain assets and liabilities o/Hawkeye Bank &Trust, Eldora, Iowa




(1/9/87)Security Bank (Applicant) has assets of $163.3million and Hawkeye Bank & Trust (Bank) hasdeposits of $16.0 million. Applicant and Bank arenot located in the same market, and the proposalwould have no significant effect on competition.

The banking factors and considerations relatingto the convenience and needs of the community areconsistent with approval.

Intrawest Bank of Grand Junction, GrandJunction, Colorado, to acquire certain depositsof American National Bank of Grand Junction,Grand Junction, Colorado


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of American National Bank of GrandJunction.


(1/8/87)Intrawest Bank of Grand Junction (Applicant) hasassets of $116.0 million and American NationalBank of Grand Junction (Bank) has deposits of$7.6 million.

The Office of the Comptroller of the Currency(OCC) has recommended immediate action by theFederal Reserve System to prevent the probablefailure of Bank.

Bank of New York Company, New York, NewYork, to merge with Long Island Trust Com-pany, N.A., Garden City, New York




(1/16/87)Bank of New York Company (Applicant) hasassets of $21 billion and Long Island Trust Com-pany, N.A. (Bank), has assets of $2 billion. Ap-plicant and Bank are not located in the same mar-

ket, and the proposal would have no significanteflFect on competition.


Farmers State Bank of West Concord, WestConcord, Minnesota, to acquire the deposits ofFarmers National Bank in West Concord, WestConcord, Minnesota


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Farmers National Bank in WestConcord.


(3/5/87)Farmers State Bank of West Concord (Applicant)has assets of $12.9 million, and Farmers NationalBank in West Concord (Bank) has deposits of $9.1million.

The OCC has recommended immediate actionby the Federal Reserve System to prevent the prob-able failure of Bank.

Demotte State Bank, Demotte, Indiana, to ac-quire certain assets and liabilities of MoroccoState Bank, Morocco, Indiana

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Morocco State Bank.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(3/20/87)Demotte State Bank (Applicant) has assets of$59.8 million, and Morocco State Bank has de-posits of $16.2 million.

The State Banking Commissioner has recom-mended immediate action by the Federal ReserveSystem to prevent the probable failure of Bank.

Commerce Union Bank, Nashville, Tennessee,to merge with United Citizens Bank of ChathamCounty, Ashland City, Tennessee




1987

248 Tables



(3/25/87)Commerce Union Bank (Applicant) has assets of$2.3 million, and United Citizens Bank ofChatham County (Bank) has assets of $17.4 mil-lion. Applicant and Bank operate in the samebanking market. On a pro forma basis, Applicant'smarket share is within Department of Justice andBoard guidelines.


Farmers Bank and Savings Company, Pom-eroy, Ohio, to acquire the assets and liabilities ofthe Tuppers Plains Branch of Bank One,Athens, N. A., Athens, Ohio




(3/26/87)Farmers Bank and Savings Company (Applicant)has assets of $48.2 million, and the Tuppers PlainsBranch (Branch) has assets of $4.2 million. Appli-cant and Branch are both located in the MeigsCounty banking market. On a pro forma basis,Applicant's market share is within Justice Depart-ment and Board guidelines.


Bank of Lenawee, Adrian, Michigan, to acquireHudson State Savings Bank, Hudson, Michigan


(2/12/87)The proposed transaction would not have a signifi-cantly adverse effect on competition.


(3/31/87)Bank of Lenawee (Applicant) has assets of $96.2million, and Hudson State Savings Bank (Bank)has assets of $38.9 million. Applicant and Bankcompete in the Lenawee County, Michigan, bank-ing market. On a pro forma basis, Applicant'smarket share is within Department of Justice andBoard guidelines.


Prudential Bank, Denver, Colorado, to mergewith Commonwealth State Bank, Glendale,Colorado


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Commonwealth State Bank.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(4/9/87)Prudential Bank (Applicant) has assets of $15.1million, and Commonwealth State Bank (Bank)has assets of $7.8 million.

The State Banking Commissioner has recom-mended immediate action by the Federal ReserveSystem to ensure continuation of Bank's services.

First American Bank, Rosemead, California, tomerge with First Arroyo Bank, South Pasadena,California




(4/16/87)First American Bank (Applicant) has assets of $74million, and First Arroyo Bank (Bank) has assetsof $45 million. Applicant and Bank operate in theLos Angeles metropolitan banking market. On apro forma basis, Applicant's market share iswithin Department of Justice and Board guide-lines.


Chemical Bank Clare, Clare, Iowa, to acquirecertain assets and liabilities o/The Mount Pleas-ant branch of Michigan National Bank-Valley,Midland, Michigan




(4/17/87)Chemical Bank (Applicant) has assets of $122million, and The Mount Pleasant branch of Michi-gan National Bank (Branch) has deposits of $4million. Applicant and Bank operate in the samebanking market. On a pro forma basis, Applicant's


1987

Tables 249

16.—Continued

market share is within Department of Justice andBoard guidelines.


Pacific Western Bank, San Jose, California, tomerge with County Bank & Trust, Santa Cruz,California




(4/17/87)Pacific Western Bank (Applicant) has assets of$470.6 million, and County Bank & Trust (Bank)has assets of $476.6 million. Applicant and Bankoperate in the same banking market. On a proforma basis, Applicant's market share is withinDepartment of Justice and Board guidelines.


Professional Bank, Englewood, Colorado, tomerge with American Bank of Commerce,Denver, Colorado

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of American Bank of Commerce.


(5/6/87)Professional Bank (Applicant) has assets of $5.0million, and American Bank of Commerce (Bank)has assets of $22.5 million. The State BankingCommissioner has recommended immediate ac-tion by the Federal Reserve System to ensure con-tinuation of Bank's services.


Farmers & Merchants B&TC, Aberdeen,South Dakota, to acquire deposits of First StateBank, Sisseton, South Dakota


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the Federal

Reserve System to act immediately to safeguarddepositors of First State Bank.


(5/15/87)Farmers & Merchants B&TC (Applicant) hasassets of $68.2 million and will acquire deposits of$19.5 million from First State Bank (Bank). TheState Banking Commissioner has recommendedimmediate action by the Federal Reserve System toensure continuation of Bank's services.


Forest Hill State Bank, Forest Hill, Maryland,to acquire certain assets and liabilities of theDarlington branch of Equitable Bank, N.A.,Baltimore, Maryland




(5/26/87)Forest Hill State Bank (Applicant) has assets of$125 million and will acquire $7 million in assetsof the Darlington branch of Equitable Bank, N. A.(Branch). Applicant and Branch operate in theBaltimore market. On a pro forma basis, Appli-cant's market share is within Department of Justiceand Board guidelines.


Provident Bank, Cincinnati, Ohio, to mergewith Hamilton County State Bank, Lockland,Ohio


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Hamilton County State Bank.


(6/12/87)Provident Bank (Applicant) has assets of $1.4million, and Hamilton State Bank (Bank) hasassets of $8.7 million.

The State Banking Commissioner has recom-mended immediate action by the Federal ReserveSystem to ensure continuation of Bank's services.


1987

250 Tables


Chase Bank of Ohio, Mentor, Ohio, to acquirecertain assets and liabilities of the Atrium IBranch of Bank One, Milford, N.A., Milford,Ohio


BASIS FOR APPROVAL BY THE FEDERAL RESERVE(6/18/87)Chase Bank of Ohio (Applicant) has assets of$456.4 million, and the Atrium Branch of BankOne (Branch) has assets of $247,000 and depositsof $8.4 million. Applicant and Bank operate in theCincinnati banking market. On a pro forma basis,Applicant's market share is within Department ofJustice and Board guidelines.


Prudential Bank, Denver, Colorado, to acquirethe assets and liabilities of Citizens Bank ofGlendale, Denver, Colorado

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Citizens Bank of Glendale.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(8/27/87)Prudential Bank (Applicant) has assets of $20.3million, and Citizens Bank of Glendale (Bank) hasassets of $3.6 million. The State Banking Com-missioner has recommended immediate action bythe Federal Reserve System to ensure continuationof Bank's services.


Norstar Bank of Upstate New York, Albany,New York, to acquire certain assets and liabilitiesof six branches of United National Bank, Calli-coon, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(8/14/87)The proposed transaction would not have a signifi-cantly adverse effect on competition.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(9/22/87)Norstar Bank of Upstate New York (Applicant)

has assets of $3.1 billion, and the six branches ofUnited National Bank (Branches) have assets of$95.3 million.


Farmers and Merchants Bank, Huron, SouthDakota, to acquire Security State Bank,Doland, South Dakota

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Security State Bank.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(9/23/87)Farmers and Merchants Bank (Applicant) hasassets of $104.5 million, and Security State Bank(Bank) has deposits of $19.5 million. The StateBanking Commissioner has recommended imme-diate action by the Federal Reserve System toensure continuation of Bank's services.


Century Bank Orchard Road, ArapahoeCounty, Colorado, to merge with Century BankSoutheast, N.A., Greenwood Village, Colorado

SUMMARY REPORT BY THE ATTORNEY GENERALNo report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Century Bank Southeast, N.A.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(9/24/87)Century Bank Orchard Road (Applicant) has assetsof $11.3 million, and Century Bank Southeast,N.A. (Bank), has assets of $19.7 million. TheState Banking Commissioner has recommendedimmediate action by the Federal Reserve System toensure continuation of Bank's services.


Independent Bank-South Michigan, Leslie,Michigan, to acquire four branches of MichiganNational Bank, Lansing, Michigan

SUMMARY REPORT BY THE ATTORNEY GENERAL(8/12/87)


1987

Tables 251

16.—Continued

The proposed transaction would not be signifi-cantly adverse to competition.


(10/1/87)Independent Bank-South Michigan (Applicant)has assets of $49.4 million, and the four branchesof Michigan National Bank (Branches) have de-posits of $28 million. Applicant and Branchesoperate in the same banking market. On a proforma basis, Applicant's market share is withinDepartment of Justice and Board guidelines.


Star Valley State Bank, Afton, Wyoming, toacquire the deposits of American National Bankof Afton, Afton, Wyoming


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of American National Bank of Afton.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(10/15/87)Star Valley State Bank (Applicant) has assets of$54.6 million and American National Bank ofAfton (Bank) has deposits of $10.6 million. TheOCC has recommended immediate action by theFederal Reserve System to ensure continuation ofBank's services.


First Bank of Mules hoe, Muleshoe, Texas, tomerge with First State Bank of Bovina, Bovina,Texas


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of First State Bank of Bovina.


(10/22/87)First Bank of Muleshoe (Applicant) has assets of$33.2 million, and First State Bank of Bovina(Bank) has assets of $16.3 million. The StateBanking Commissioner has recommended imme-diate action by the Federal Reserve System toensure continuation of Bank's services.

The banking factors and considerations relating

to the convenience and needs of the community areconsistent with approval.

The Commercial Bank, Bel Air, Maryland, toacquire three branches of Maryland NationalBank, Baltimore, MarylandSUMMARY REPORT BY THE ATTORNEY GENERAL



(10/23/87)The Commercial Bank (Applicant) has assets of$150 million, and the three branches of MarylandNational Bank (Branches) have deposits of $16million. Applicant and Branches operate in sepa-rate banking markets.


Bank One Mansfield, Mansfield, Ohio, to ac-quire the Gallion branch of Chase Bank ofOhio, Mentor, Ohio



BASIS FOR APPROVAL BY THE FEDERAL RESERVE(11/4/87)Bank One Mansfield (Applicant) has assets of$318.5 million, and the Gallion branch of ChaseBank of Ohio (Branch) has assets of $17.5 million.Applicant and Branch do not operate in the samebanking market.


Johnstown Bank & Trust Co., Johnstown,Pennsylvania, to merge with The First NationalBank of Avonmore, Avonmore, Pennsylvania




(11/6/87)Johnstown Bank & Trust Co. (Applicant) hasassets of $417 million, and The First NationalBank of Avonmore (Bank) has assets of $12.1million. Applicant does not currently operate inBank's market.


1987

252 Tables



The Merrill Trust Company, Bangor, Maine, tomerge with Norstar Bank of Maine, Portland,Maine




(11/9/87)The Merrill Trust Company (Applicant) has assetsof $853 million and Norstar Bank of Maine (Bank)has assets of $800 million. Applicant and Bankcompete in the Bangor banking market. On a proforma basis, Applicant's market share is within theDepartment of Justice and Board guidelines.


Valley Bank of Nevada, Las Vegas, Nevada, tomerge with Security Bank of Nevada, Reno,Nevada



(11/30/87)Valley Bank of Nevada (Applicant) has assets of$1.5 billion and Security Bank of Nevada (Bank)has assets of $483 million. Applicant and Bankcompete in four common banking markets. On apro forma basis, Applicant's market share iswithin Department of Justice and Board guide-lines.


Texas Capital Bank-Ft. Bend, Richmond,Texas, to merge with Bancfirst-Austin, N.A.,Austin, Texas


No report received. Request for report on the com-petitive factors was dispensed with, as authorizedby the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Bancfirst-Austin, N. A.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(12/10/87)Texas Capital Bank-Ft. Bend (Applicant) hasassets of $36.2 million, and Bancfirst-Austin,N.A. (Bank), has assets of $24.6 million. Appli-cant and Bank do not operate in the same bankingmarket. The State Banking Commissioner has rec-ommended immediate action by the Federal Re-serve System to ensure continuation of Bank'sservices.


Mergers Approved Involving Wholly OwnedSubsidiaries of the Same Bank HoldingCompany

In each of the following cases, the summary reportby the attorney general indicates that the transac-tion would not have a significantly adverse effecton competition because the proposed merger isessentially a corporate reorganization. The Boardof Governors, the Federal Reserve Bank, or theSecretary of the Board of Governors, whicheverapproved the application, determined that the com-petitive effects of the proposed transaction, thefinancial and managerial resources and prospectsof the banks concerned, as well as the convenienceand needs of the community to be served, wereconsistent with approval.

Institution1

M&I Marshall & Ilsley Bank, Milwaukee, WisconsinMergerM&I Bay View State Bank, Milwaukee, WisconsinM&I Silver Spring Bank, Milwaukee, WisconsinCommerce Union Bank of Rutherford County, WisconsinM&I of Greenfield, Greenfield, Wisconsin

Assets(millions of

dollars)

Date ofapproval

2,226 1/30/87

66675648


1987

Tables 253

16.—Continued

Institution1

Texas Capital Bank-Richmond, Richmond, TexasMergerTexas Capital Bank-Katy, N.A., Katy, Texas

Community Bank-Northwest, Houston, TexasMergerCommunity Bank 1-10 West, N.A., Katy, Texas

Security Bank Northeast, Richmond, MichiganMergerSecurity Bank of Almont, Almont, Michigan

Carney Bank, Boynton Beach, FloridaMergerCarney Bank of Broward County, Sunrise, Florida

First of America Bank-Central, Lansing, MichiganMergerFirst of America Bank-Charlotte, Charlotte, MichiganFirst of America Bank, Grand Ledge, Michigan

Norstar Bank of Long Island, Hempstead, New YorkMergerNorstar Bank of Commerce, New York, New York

Norstar Bank of Upstate New York, Albany, New York . . . .MergerNorstar Bank of Hudson Valley, N.A., Newburgh, New YorkCentral Bank, Monroe, Louisiana .MergerLincoln Bank and Trust Company, Ruston, Louisiana

Provident Bank, Cincinnati, OhioMergerMidwest Bank and Trust Company, Cleveland, Ohio

State Bank of Freeport, Freeport, IllinoisMergerRock City Bank, Rock City, Illinois

Old Kent Bank & Trust Co., Grand Rapids, MichiganMergerOld Kent Bank of Kentwood, Kent wood, Michigan

Central Bank of the South, Birmingham, AlabamaMergerCentral Bank, Cahaba Heights, Alabama

Peoples Bank of Bloomington, Bloomington, IllinoisMergerThe First National Bank of Normal, Normal, Illinois

Assets(millions of

dollars)

Date ofapproval

39

24

7

15

128

30

15

10

444

2317

1,176

449

2,724

632439

90

1,084

176

152

15

3,000

23

3,479

2

205

99

3/11/87

4/15/87

4/30/87

5/7/87

7/15/87

8/4/87

8/5/87

9/29/87

9/23/87

9/30/87

10/9/87

10/23/87

10/27/87


1987

254 Tables


Institution1Assets


Date ofapproval

Old Kent Bank & Trust Company, Grand Rapids, MichiganMergerOld Kent Bank of Greenville, Greenville, MichiganOld Kent Bank of Fremont, Fremont, Michigan

Old Kent Bank and Trust Co., Grand Rapids, Michigan . . .MergerOld Kent Bank of Fremont, Fremont, Michigan

First Community Bank-Adrian, Buckhannon, West VirginiaMergerFirst Community Bank-Princeton, Princeton, West VirginiaGlendale Bank of Pennsylvania, Philadelphia, PennsylvaniaMergerWilliam Penn Bank, Philadelphia, Pennsylvania

Comerica Bank, Detroit, MichiganMergerComerica Bank, Novi, MichiganComerica Bank, Sterling Heights, MichiganComerica Bank, Livonia, MichiganComerica Bank, Southfield, MichiganComerica Bank, Troy, MichiganComerica Bank, Warren, Michigan

Chemical Bank Bay Area, Bay City, MichiganMergerChemical Bank Cass City, Cass City, Michigan

First Trust & Savings Bank of Kankakee, Kankakee, IllinoisMergerFirst Trust & Savings Bank of Bradley, Bradley, Illinois . . .

Valley Bank & Trust Company, Salt Lake City, UtahMergerS i l v e r K i n g S t a t e B a n k , Park C i t y , U t a h

First V i r g i n i a B a n k - C o m m o n w e a l t h , G r a f t o n , V i r g i n i a . . . .MergerFirst Virginia Bank-Surry, Surry, Virginia

First Nebraska Bank-Valley, Valley, NebraskaMergerFirst Nebraska Bank, Brainard, NebraskaFirst Nebraska Bank, Decatur, NebraskaFirst Nebrasks Bank, N.A. , Emerson, NebraskaFirst Nebraska Bank, N.A. , Stanton, NebraskaFirst Nebraska Bank, N.A. , Columbus, Nebraska

1. Each proposed transaction was to be effected underthe charter of the first-named bank. The entries are inchronological order of approval.

2,900

62

54

2,900

62

49

133

27

27

7,32462137153198192330

122

27

166

19

787

29

40

17

12166

161510

10/30/87

10/30/87

11/13/87

11/16/87

11/25/87

11/17/87

11/27/87

12/1/87

12/1/87

12/29/87


1987

Tables 255

16.—Continued


The following transactions have no significant ef-fect on competition; they merely facilitate the ac-quisition of the voting shares of a bank or banks bya holding company. In such cases the summaryreport by the attorney general indicates that thetransaction will merely combine an existing bankwith a nonoperating institution; in consequence,

and without regard to the acquisition of the surviv-ing bank by the holding company, the mergerwould have no effect on competition. The Board ofGovernors, the Federal Reserve Bank, or the Sec-retary of the Board of Governors, whichever ap-proved the application, determined that the pro-posal would, in itself, have no adverse competitiveeffects, and that the financial factors and consider-ations relating to the convenience and needs of thecommunity were consistent with approval.

Institution1Assets


Date ofapproval

Orrville Interim Bank, Orrville, OhioMergerOrrville Savings Bank, Orrville, Ohio

Hardy County Bank, Inc., Wardensville, West VirginiaMergerCapon Valley Bank, Wardensville, West Virginia

Morgan County Bank, Falkville, AlabamaMergerMadison County Bank, New Hope, AlabamaCentral Bank of the South, Falkville branch, Birmingham, Alabama

First Virginia Bank-Clinch Valley, Richlands, VirginiaMergerClinch Valley Bank & Trust Company, Richlands, Virginia

The New Colonia Bank, Opelika, AlabamaMergerColonial Bank, Montgomery, Alabama

Alpine Bank & Trust Co., Glenwood Springs, ColoradoMergerAlpine Bank, Glenwood Springs, Colorado

Newport News Interim Bank, Newport News, VirginiaMergerAmerican Bank, Newport News, Virginia

Sandusky Interim Bank, Sandusky, OhioMergerCitizens Banking Company, Sandusky, Ohio

Iron and Glass Interim Bank, Pittsburgh, PennsylvaniaMergerIron and Glass Bank, Pittsburgh, Pennsylvania

Liberty State Interim BankMergerLiberty State Bank, Mount Carmel, Pennsylvania

59

36

71

150

13

22

168

78

47

1/5/87

1/9/87

1/28/87

4/3/87

4/9/87

4/22/87

5/8/87

5/28/87

6/8/87

8/14/87


1987

256 Tables


Institution1Assets


Date ofapproval

Second BHN Acquisition Bank, Manchester, New Hampshire.MergerSuncook Bank, Suncook, New Hampshire

L.T. Interim Bank, East St. Louis, Missouri.MergerLindell Trust Company, St. Louis, Missouri.

Wiles Interim Bank, Niles, OhioMergerThe Security Dollar Bank Company, Niles, Ohio

First of America Bank-Manistee, Manistee, Michigan. . .MergerManistee Bank and Trust Company, Manistee, Michigan

Princeton Bank of Pennsylvania, Philadelphia, PennsylvaniaMergerPrinceton Bank of Pennsylvania, N.A., Philadelphia, Pennsylvania . .

CB Bank, South Haven, MichiganMergerCitizens Trust & Savings Bank, South Haven, Michigan .

Newco Bank, Ypsilanti, MichiganMergerYpsilanti Savings Bank, Ypsilanti, Michigan

New Bank of Mora, Mora, Minnesota .MergerKanabee State Bank, Mora, Minnesota

Traders Interim Bank, Spencer, West VirginiaMergerTraders Bank, Spencer, West Virginia

New Valley Bank, Grand Forks, North DakotaMergerValley Bank & Trust Company, Grand Forks, North Dakota

The Lunenburg County Bank, Kenbridge, VirginiaMergerCommunity Bank of Lunenburg, Kenbridge, Virginia . . .

Lapeer Interim Bank, Lapeer, MichiganMergerLapeer County Bank & Trust Company, Lapeer, Michigan

102

107

64

112

137

138

39

63

84

24

125

9/15/87

9/17/87

9/18/87

10/13/87

10/17/87

11/9/87

11/16/87

11/24/87

11/26/86

11/27/87

12/1/86

12/14/87

1. Each proposed transaction was to be effected under 2. Where no assets are listed, the bank is newly organ-the charter of the first-named bank. The entries are in ized and not in operation,chronological order of approval.


1987

Tables 233


Columbia Bank, Avondale, Arizona, to acquireassets and liabilities of The North AmericanBank, Phoenix, Arizona


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of The North American Bank.


(1/8/88)Columbia Bank (Applicant) has assets of $9.4million and The North American Bank (Bank) hasassets of $30.5 million.

The Federal Deposit Insurance Corporation(FDIC) has recommended immediate action by theFederal Reserve System to prevent the probablefailure of Bank.

Farmers & Merchants Bank and Trust Com-pany, Aberdeen, South Dakota, to merge withBank of Cresbard, Cresbard, South Dakota


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Bank of Cresbard.

BASIS FOR APPROVAL BY THE FEDERAL RESERVE(2/3/88)Farmers & Merchants Bank and Trust Company(Applicant) has assets of $94.2 million and Bank ofCresbard (Bank) has assets of $8.9 million.

The Office of the Comptroller of the Currency(OCC) has recommended immediate action by theFederal Reserve System to prevent the probablefailure of Bank.

Farmers State Bank of Western Illinois, NewWindsor, Illinois, to merge the assets and liabilities0/Bank of Viola, Viola, Illinois


(12/18/87)The proposed transaction would not be significantlyadverse to competition.


(2/18/88)Farmers State Bank of Western Illinois (Applicant)has assets of $28.4 million and Bank of Viola(Bank) has assets of $10.9 million. Applicant andBank are located in the same banking market. On a

pro forma basis, Applicant's market share will bewithin Department of Justice and Board guidelines.


Citizens Bank and Trust Company, Baytown,Texas, to merge the assets and liabilities of FirstAmerican Bank & Trust of Baytown, Baytown,Texas


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of First American Bank & Trust ofBaytown.


(3/11/88)Citizens Bank and Trust Company (Applicant) hasassets of $ 149.2 million and First American Bank &Trust of Baytown (Bank) has assets of $35.7million.

The FDIC has recommended immediate actionby the Federal Reserve System to prevent theprobable failure of Bank.

Central Bank, Hollidaysburg, Pennsylvania, tomerge the assets and liabilities of the Broad TopCity office of Mellon Bank (Central), N. A., StateCollege, Pennsylvania




(3/28/88)Central Bank (Applicant) has assets of $159.8million and the branch of Mellon Bank (Branch) hasassets of $4.1 million. Applicant and Branchoperate in the same banking market. On a pro formabasis, Applicant's market share is within Depart-ment of Justice and Board guidelines.


State Bank and Trust of Colorado Springs,Colorado Springs, Colorado, to merge the assetsand liabilities of Citizens National Bank, Colo-rado Springs, Colorado


1988

234 Tables

16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1988 — Continued


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors.


(4/21/88)State Bank and Trust (Applicant) has assets of$12.7 million and Citizens National Bank (Bank)has assets of $17.6 million.


Interstate Bank North, Houston, Texas, toacquire the assets and liabilities o/First NationalBank of Kingwood, Kingwood, Texas




(5/26/88)Interstate Bank North (Applicant) has assets of$37.7 million and First National Bank of Kingwood(Bank) has assets of $16.1 million. The OCC hasrecommended immediate action by the FederalReserve System to prevent the probable failure ofBank.

Citizens Bank and Trust Company, Baytown,Texas, to merge certain assets and liabilities ofLone Star Bank, Baytown, Texas




(5/26/88)Citizens Bank and Trust Company (Applicant) hasassets of $19.0 million and Lone Star Bank (Bank)has assets of $12.1 million.


Citizens Bank, Smithville, Tennessee, to mergewith Bank of Ardmore, Ardmore, Tennessee




(6/6/88)Citizens Bank (Applicant) has assets of $204 millionand Bank of Ardmore (Bank) has assets of $54million. Applicant and Bank operate in the samebanking market. On a pro forma basis, Applicant'smarket share will be within the Department ofJustice and Board guidelines.


First Interstate Bank of California, Los Angeles,California, to merge with Bank of Contra Costa,Walnut Creek, California




(6/16/88)First Interstate Bank of California (Applicant) hasassets of $19.6 billion and Bank of Contra Costa(Bank) has assets of $175.9 million. Applicant andBank are not located in the same banking market.


Irving Trust Company, New York, New York, toacquire certain assets and liabilities of the Seoul,South Korea, branch of Continental IllinoisNational Bank and Trust Company of Chicago,Chicago, Illinois




(6/27/88)Irving Trust Company (Applicant) has assets of$20.5 billion and the Seoul, South Korea, branch(Branch) has assets of $129 million. Applicant andBank are not located in the same banking market.



1988

Tables 235

16.-Continued


Beaver Trust Company, Beaver, Pennsylvania,to acquire the assets and liabilities of branchoffices of First Seneca Bank, Butler, Pennsyl-vania and of Union National Bank, Pittsburgh,Pennsylvania




(8/11/88)Beaver Trust Company (Applicant) has assets of$ 187 million and the branches of First Seneca Bankand of Union National Bank (Branches) haveacquired assets of $46.8 million. Applicant andBranches do not operate in the same bankingmarket.


Norstar Bank, Hempstead, New York, to acquirecertain assets and liabilities of three branches ofChemical Bank, New York, New York

SUMMARY REPORT BY THE ATTORNEY GENERAL(7/22/88)The proposed transaction would not be significantlyadverse to competition.


(8/30/88)Norstar Bank (Applicant) has assets of $2.3 billionand the branches of Chemical Bank (Branches)have assets of $108 million. Applicant and Bankoperate in the same banking market. On a pro formabasis, Applicant's market share is within Depart-ment of Justice and Board guidelines.


First Community Bank, Inc., Princeton, WestVirginia, to merge with First National Bank ofGrafton, Grafton, West Virginia




(9/7/88)First Community Bank, Inc. (Applicant), has assetsof $250.6 millionand First National Bank of Grafton(Bank) has assets of $34.0 million. Applicant andBank do not operate in the same banking market.


Merchants State Bank, Freeman, South Dakota,to acquire certain assets and liabilities of HurleyState Bank, Hurley, South Dakota




(9/9/88)Merchants State Bank (Applicant) has assets of $22million and Hurley State Bank (Branch) has assetsof $ 10 million. Applicant and Branch do not operatein the same banking market.


First Virginia Bank-South Central, Amherst,Virginia, to merge certain assets and liabilities oftwo branches of Colonial American NationalBank, Roanoke, Virginia




(10/4/88)First Virginia Bank-South Central (Applicant) hasassets of $43.6 million and the branches of ColonialAmerican National Bank (Branches) have assets of$2.5 million. Applicant and Branches operate in thesame banking market. On a pro forma basis,Applicant's market share is within Department ofJustice and Board guidelines.


Isabella Bank and Trust, Mount Pleasant,Michigan, to merge the assets and liabilities of theShepherd branch of Commercial National Bankof Alma, Alma, Michigan


1988

236 Tables

16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1988-Continued




(10/24/88)Isabella Bank and Trust (Applicant) has assets of$154.3 million and Commercial National Bank(Branch) has assets of $4.2 million. Applicant andBranch do not operate in the same banking market.


Bank of Woodward, Woodward, Oklahoma, toassume the assets and liabilities of Bank of theNorthwest, Woodward, Oklahoma


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Bank of the Northwest.


(11/15/88)Bank of Woodward (Applicant) has assets of $103million and Bank of the Northwest (Bank) hasassets of $22 million.


First Interstate Bank of California, Los Angeles,California, to merge with Point West Bancorpand its banking subsidiary, Point West Bank,both of Sacramento, California




(11/23/88)First Interstate Bank of California (Applicant) hasassets of $19.7 billion and Point West Bancorp(Bank) has banking assets of $168.3 million.Applicant and Bank are not in the same bankingmarket.


First Community Bank, Inc., Princeton, WestVirginia, to merge with Valley Bank & TrustCompany, Bluefield, West Virginia




(11/29/88)First Community Bank, Inc. (Applicant), has assetsof $283.4 million and Valley Bank & Trust Com-pany (Bank) has assets of $15.4 million. Applicantand Bank operate in the same banking market. On apro forma basis, Applicant's market share is withinDepartment of Justice and Board guidelines.


State Bank of Caledonia, Caledonia, Michigan,to acquire certain assets and deposit liabilities ofthe Middleville Branch of PrimeBank, Middle-ville, Michigan




(11/30/88)State Bank of Caledonia (Applicant) has assets of$56.9 million and the Middleville Branch (Branch)has deposit liabilities of $8.9 million. Applicant andBank do not operate in the same banking market.


First Community Bank, Forest, Virginia, toassume deposit liabilities from three branches ofSignet Bank/Virginia, Richmond, VirginiaSUMMARY REPORT BY THE ATTORNEY GENERAL



(12/9/88)First Community Bank (Applicant) has assets of$27 million and the branches of Signet Bank/Vir-ginia (Branches) have assumed deposits of $48million. Applicant and Branches do not operate inthe same banking market.


1988

16.-Continued

237



Continental Bank and Trust Company, SaltLake City, Utah, to merge with Tracy-CollinsBank and Trust Company, Salt Lake City, Utah


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguarddepositors of Tracy-Collins Bank and TrustCompany.


(12/23/88)Continental Bank and Trust Company (Applicant)has assets of $410.9 million and Tracy-CollinsBank and Trust Company (Bank) has assets of$213.3 million.


In each of the following cases, the Summary Reportby the Attorney General indicates that the transac-tion would not have a significantly adverse effect oncompetition because the proposed merger is essen-tially a corporate reorganization. The Board ofGovernors, the Federal Reserve Bank, or theSecretary of the Board of Governors, whicheverapproved the application, determined that thecompetitive effects of the proposed transaction, thefinancial and managerial resources and prospects ofthe banks concerned, as well as the convenienceand needs of the community to be served wereconsistent with approval.

InstitutionlAssets

(millionsof dollars)

Date ofapproval

First of America-Straits Area, Cheboygan, MichiganMergerFirst of American Bank, N. A., Sault Ste. Marie, Michigan

Trustcorp Bank, Toledo, OhioMergerTrustcorp Co. Dayton, Dayton, OhioTrustcorp Company, N. A., Columbus, Ohio

Marine Bank of Champaign, Champaign, IllinoisMergerMarine American National Bank of Champaign, Champaign, Illinois

Chemical Bank and Trust Company, Midland, MichiganMergerChemical Bank Bay Area, Bay City, Michigan

Trustcorp Bank, Lenawee, Adrian MichiganMergerJipson-Carter State Bank, Blissfield, Michigan

Old Kent Bank of Kalamazoo, Kalamazoo, MichiganMergerOld Kent Bank of Allegan, Allegan, MichiganOld Kent Bank of Battle Creek, Battle Creek, MichiganOld Kent Bank of South Haven, South Haven, MichiganOld Kent Bank of Three Rivers, Three Rivers, Michigan

85

52

2,898

40

100

89

452

9

147

31

521

42414132

1/20/88

1/26/88

3/18/88

3/18/88

4/15/88

4/22/88


1988

238 Tables

16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1988 —Continued

Institutionl (millionsof dollars)

Date ofapproval

Sovran Bank/Central South, Nashville, TennesseeMergerSovran Bank/Williamson County, Franklin, Tennessee

Bank One, Mansfield, Mansfield, Ohio.MergerBank One, Ashland, Ashland, Ohio

United Jersey Bank, Hackensack, New JerseyMergerUnited Jersey Bank Edgewater N. A., Englewood, New Jersey.

United Jersey Bank, Hackensack, New JerseyMergerUnited Jersey Bank/Wood Ridge, N. A., Wood Ridge, New Jersey.

Landmark Bank, Fairview Heights, IllinoisMergerLandmark Bank Edgemont, East St. Louis, Illinois .Landmark Bank St. Clair County, OTallon, Illinois.Landmark Bank, Mascoutah, Illinois

First City Bank of Dallas, Dallas, TexasMergerFirst City Bank-East Dallas, Dallas, TexasFirst City Bank-Market Center, N. A., Dallas, TexasFirst City Bank Valley View, Dallas, TexasFirst City Bank-Farmers Branch, Farmers Branch, Texas.First City Bank of Garland, N. A., Garland, TexasFirst City National in Grand Prairie, Grand Prairie, Texas.First City Bank of Lancaster, Lancaster, TexasFirst City Bank of Richardson, Richardson, Texas

State Savings Bank of South Lyon, South Lyon, Michigan.MergerFirst of America Bank-Ann Arbor, Ann Arbor, Michigan .

Scottsdom Bank, Scottsdom, Arizona.MergerThunderbird Bank, Phoenix, Arizona.

First City Bank of Dallas, Dallas, TexasMergerFirst City Bank of Lewisville, Lewisville, TexasFirst City Bank of Piano, N. A., Piano, Texas

First Interstate Bank of California, Los Angeles, California .MergerPoint West Bank, Sacramento, California

2,700

349

349

70

4,025

155

4,183

102

62

932925

1,600

10570

1351551348083

240

46

495

52

315

1,500

13162

19,700

168

7/1/88

7/13/88

8/1/88

9/7/88

9/29/88

9/29/88

10/20/88

11/16/88

11/22/88

11/23/88


1988

Tables 239

16.-Continued

Institutionl

Cole Taylor Bank/Drovers, Chicago, IllinoisMergerCole Taylor Bank/Main, Chicago, IllinoisCole Taylor Bank/Skokie, Skokie, IllinoisCole Taylor Bank/Ford City, Chicago, Illinois

First City Bank of Dallas, Dallas, TexasMergerFirst City Bank-Central Arlington, Arlington, TexasFirst City National Bank of Arlington, Arlington, TexasFirst City National Bank of Colley, Colleyville, TexasFirst City Bank-Forest Hill, Forest Hill, TexasFirst City National Bank of Fort Worth, Fort Worth, Texas

Sovran Bank/Central South, Nashville, TennesseeMergerSovran Bank/Clarksville, Clarksville, Tennessee

First Bank of Johnson City, Johnson City, IllinoisMergerFirst Bank of Carbondale, Carbondale, Illinois

Assets(millions

of dollars)

Date ofapproval

340 11/29/88

287182291

1,500 11/29/88

87245

554675

3,000 12/13/88

135

29 12/22/88

26

1. Each proposed transaction was to be effected underthe charter of the first-named bank. The entries are in

chronological order of approval.


The following transactions have no significant effecton competition; they merely facilitate the acquisi-tion of the voting shares of a bank or banks by aholding company. In such cases the summary reportby the attorney general indicates that the transactionwill merely combine an existing bank with anonoperating institution; in consequence, andwithout regard to the acquisition of the surviving

bank by the holding company, the merger wouldhave no effect on competition. The Board ofGovernors, the Federal Reserve Bank, or theSecretary of the Board of Governors, whicheverapproved the application, determined that theproposal would, in itself, have no adversecompetitive effects, and that the financial factorsand considerations relating to the convenience andneeds of the community were consistent withapproval.


1988

240 Tables


InstitutionlAssets

(millionsof dollars)2

Date ofapproval

The ACB Bank, Apple Creek, OhioMergerApple Creek Banking Company, Apple Creek, Ohio.

Orrstown Interim Bank, Orrstown, Pennsylvania .MergerOrrstown Bank, Orrstown, Pennsylvania

Commonwealth Bank, Arlington, TexasMergerCommonwealth Bank-Lamar, N.A. , Arlington, Texas .

Norstar Bank of Callicoon, Callicoon, New York .MergerNorstar Bank of Upstate NY, Albany, New York..

F&M Bank-Martinsburg, Martinsburg, West VirginiaMergerMerchants and Farmers Bank

*St. Elmo Bank, St. Elmo, IllinoisMergerFayette County Bank, St. Elmo, Illinois .

New Bank, Madisonville, TennesseeMergerBank of Madisonville, Madisonville, Tennessee

Richwood Interim Bank, Richwood, OhioMergerRichwood Banking Company, Richwood, Ohio .

Ripley Bank Merger Subsidiary, Inc., Ripley, West Virginia .MergerBank of Ripley, Ripley, West Virginia ,

Ranson Interim Bank, Ranson, West VirginiaMergerBlakeley Bank and Trust Company, Ranson, West Virginia.

Central Florida Bancshares, Inc., Maitland, FloridaMergerFirst American Bank of Orange County, Maitland, Florida .

21

74

113

94

53

16

86

46

38

64

41

1/27/88

2/5/88

4/1/88

4/26/88

5/23/88

6/20/88

7/29/88

8/18/88

8/29/88

9/26/88

11/4/88

1. Each proposed transaction was to be effected under 2. Where no assets are listed, the bank is newlythe charter of the first-named bank. The entries are in organized and not in operation,chronological order of approval.


1988

Tables 235


First Western Bank Custer, Custer, SouthDakota, to acquire the Hill City South Dakotabranch of Rushmore State Bank, Rapid City,South Dakota




(1/20/89)First Western Bank Custer (Applicant) has assets of$32 million and the Hill City Branch (Branch) hasassets of $5.6 million. Applicant and Branchoperate in the same banking market.


Central Bank, Hollidaysburg, Pennsylvania, toacquire the Pleasant Valley and Logan Valleybranches of United States National Bank, Johns-town, Pennsylvania




(2/17/89)Central Bank (Applicant) has assets of $167 millionand the two branches (Branches) have assets of$15.7 million. Applicant and Bank operate in thesame banking market.


Crestar Bank, Richmond, Virginia, to mergewith Colonial American National Bank, RoanokeCounty, VirginiaSUMMARY REPORT BY THE ATTORNEY GENERAL



(3/14/89)Crestar Bank (Applicant) has assets of $9.4 billionand Colonial American National Bank (Bank) hasassets of $367 million. Applicant and Bank operatein the same banking market.



The Bank of Mid Jersey, Bordentown, NewJersey, to acquire the University Plaza branchoffice of Howard Savings Bank, Livingston, NewJersey




(3/17/89)The Bank of Mid Jersey (Applicant) has assets of$527.8 million and the University Plaza Branch(Branch) has assets of $5.7 million. Applicant andBranch operate in the same banking market.


Kent City State Bank, Kent City, Michigan, toacquire the Sparta, Michigan branch office ofPrimeBank Federal Savings Bank, Grand Rap-ids, Michigan




(3/31/89)Kent City State Bank (Applicant) has assets of$53.6 million and the Sparta Branch (Branch) hasassets of $7.5 million. Applicant and Bank operatein the same banking market.


Central Bank of Oklahoma City, OklahomaCity, Oklahoma, to acquire certain assets andassume liabilities o/Allied Oklahoma Bank, N. A.,Oklahoma City, Oklahoma


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of Allied Oklahoma Bank.


(4/13/89)


1989

236 76th Annual Report, 1989

16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1989-Continued

Central Bank of Oklahoma City (Applicant) hasassets of $229.3 million and Allied Oklahoma Bank(Bank) has assets of $ 59.1 million. The OCC hasrecommended immediate action by the FederalReserve System to prevent the probable failure ofBank.

Family Bank of Hallandale, Hallandale, Florida,to merge with Seminole National Bank, Holly-wood, Florida


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of the Bank.


(4/26/89)Family Bank (Applicant) has assets of $93.3 millionand Seminole National Bank (Bank) has assets of$7.3 million. The OCC has recommended immedi-ate action by the Federal Reserve System to preventthe probable failure of Bank.

Bank of Fountain Hills, Fountain Hills, Arizona,to assume deposit liabilities of Grand CanyonState Bank, Scottsdale, Arizona


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of the Bank.


(5/22/89)Bank of Fountain Hills (Applicant) has assets of$6.9 million and Grand Canyon State Bank (Bank)has deposits of $12.3 million. The State hasrecommended immediate action to prevent theprobable failure of the Bank.

Banco De Ponce, Ponce, Puerto Rico, to acquirethe Prospect Avenue Branch of Banco CentralS.A., New York, New York




(6/1/89)Banco De Ponce (Applicant) has assets of $2.9

billion and the Prospect Avenue Branch (Branch)has assets of $3.4 million. Applicant and Bankoperate in the same banking market.


Union Colony Bank, Greeley, Colorado, to mergewith Northern Bank and Trust, Ft. Collins,Colorado


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of Northern Bank and Trust.


(6/15/89)Union Colony Bank (Applicant) has assets of$ 115.6 million and Northern Bank and Trust (Bank)has assets of $6.2 million. The FDIC has recom-mended immediate action by the Federal ReserveSystem to prevent the probable failure of Bank.

Liberty Bank South, San Francisco, California,to acquire certain assets and liabilities of theBoulder Creek Branch of Pacific Western Bank,San Jose, California




(6/16/89)Liberty Bank (Applicant) has assets of $47 millionand the Boulder Creek Branch (Branch) has assetsof $14 million. Applicant and Bank do not operatein the same banking market.


Texas Commerce Bank Rio Grande Valley,Brownsville, Texas, to merge with National Bankof Brownsville, Brownsville, Texas


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of the National Bank of Brownsville.


1989

Tables 237

16. -Continued


(7/13/89)Texas Commerce Bank (Applicant) has assets of$442.2 million and National Bank of Brownsville(Bank) has assets of $32.7 million. The FederalReserve System has acted immediately to preventthe probable failure of Bank.

Bank of Fountain Hills, Fountain Hills, Arizona,to merge with Fidelity Bank, Scottsdale, Arizona


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of the Fidelity Bank.


(7/21/89)Bank of Fountain Hills (Applicant) has assets of$11.8 million and Fidelity Bank (Bank) has assetsof $11.5 million. The Federal Reserve System hasacted immediately to prevent the probable failure ofBank.

BancFirst, Oklahoma City, Oklahoma, to assumethe liabilities o/The Liberty State Bank, Tahle-quah, Oklahoma




(7/27/89)BancFirst (Applicant) has assets of $657 millionand The Liberty State Bank (Bank) has assets of $41million. Applicant and Bank do not operate in thesame banking market.


First Community Bank, Princeton, West Vir-ginia, to merge with Cherry River National Bank,Richwood, West Virginia




(7/28/89)First Community Bank (Applicant) has assets of

$360.2 million and Cherry River National Bank(Bank) has assets of $36.8 million. Applicant andBank operate in the same banking market.


First Interstate Bank of California, Los Angeles,California, to merge with Bank of Alex Brown,Sacramento, California




(8/1/89)First Interstate Bank of California (Applicant) hasassets of $19.6 billion and Bank of Alex Brown(Bank) has assets of $324 million. Applicant andBank operate in the same banking market.


Comerica Bank-Detroit, Detroit, Michigan, tomerge with Dearborn Bank and Trust Company,Dearborn, MichiganSUMMARY REPORT BY THE ATTORNEY GENERAL



(9/21/89)Comerica Bank Detroit (Applicant) has assets of$9.1 billion and Dearborn Bank and Trust Com-pany (Bank) has assets of $287.2 million. Applicantand Bank do not operate in the same bankingmarket.

The banking factors and considerations relatingto the convenience and needs of the community areconsistent with approval. Manufacturers HanoverTrust Company, New York, New York, to purchasecertain branches of Goldome, Buffalo, New York




(9/26/89)Manufacturers Hanover Trust Company (Appli-cant) has assets of $57 billion and the 12 branches


1989


16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1989 —Continued

(Branches) has assets of $1.2 billion. Applicant andBank operate in the same banking market.


Central Savings Bank, Sault Ste. Marie, Michi-gan, to acquire certain assets and liabilities of theMain Street Branch of First of America Bank,Northern Michigan, Cheboygan, Michigan




(10/3/89)Central Savings Bank (Applicant) has assets of $68million and The Main Street Branch (Branch) hasassets of $2.2 million. Applicant and Bank do notoperate in the same banking market.


Meridian Bank, Reading, Pennsylvania, tomerge with Hill Financial Savings Association,Red Hill, PennsylvaniaSUMMARY REPORT BY THE ATTORNEY GENERAL



(10/13/89)Meridian Bank (Applicant) has assets of $8.5 billionand Hill Financial Savings Association (Bank) hasassets of $2.0 billion. Applicant and Bank operatein the same banking market.


Heartland Bank, Croton, Ohio, to merge withLyndon Guaranty Bank of Ohio, Columbus,Ohio




(10/23/89)Heartland Bank (Applicant) has assets of $36

million and Lyndon Guaranty Bank of Ohio (Bank)has assets of $16 million. Applicant and Bank donot operate in the same banking market.


CivicBank of Commerce, Oakland, California,to merge with Meridian National Bank, Concord,California




(11/9/89)CivicBank of Commerce (Applicant) has assets of$232 million and Meridian National Bank (Bank)has assets of $87 million. Applicant and Bankoperate in the same banking market.


Central Bank, Hollidaysburg, Pennsylvania, tomerge with two branches of Landmark SavingsAssociationSUMMARY REPORT BY THE ATTORNEY GENERAL



(12/6/89)Central Bank (Applicant) has assets of $203.8million and the two branches (Branches) haveassets of $ 17.0 million. Applicant and Bank operatein the same banking market.


Rapides Bank and Trust Company in Alexan-dria, Alexandria, Louisiana, to merge with FirstBank, Pineville, Pineville, Louisiana


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of First Bank.


1989

Tables 239

16. —Continued


(12/8/89)Rapides Bank and Trust Company (Applicant) hasassets of $415.9 million and First Bank (Bank) hasassets of $84.6 million. The State has recommendedimmediate action by the Federal Reserve System toprevent the probable failure of Bank.

Central State Bank, Elkader, Iowa, to merge withFirst State Savings Bank, McGregor, Iowa


No report received. Request for report on thecompetitive factors was dispensed with, as autho-rized by the Bank Merger Act, to permit the FederalReserve System to act immediately to safeguard thedepositors of First State Savings Bank.


(12/12/89)Central State Bank (Applicant) has assets of $44.7million and First State Savings Bank (Bank) hasassets of $7.8 million. The FDIC has recommended

immediate action by the Federal Reserve System toprevent the probable failure of Bank.


The following transactions involve banks that aresubsidiaries of the same bank holding company. Ineach case, the summary report by the AttorneyGeneral indicates that the transaction would nothave a significantly adverse effect on competitionbecause the proposed merger is essentially acorporate reorganization. The Board of Governors,the Federal Reserve Bank, or the Secretary of theBoard of Governors, whichever approved theapplication, determined that the competitive effectsof the proposed transaction, the financial andmanagerial resources and prospects of the banksconcerned, as well as the convenience and needsof the community to be served were consistentwith approval.

Institutionl

Texas Bank of Denton, Denton, TexasMergerTexas Bank of Weatherford, Weatherford, Texas

BancFirst and Trust Company, Oklahoma City, OklahomaMergerAmerican Bank of Commerce, McAlester, OklahomaCitizens State Bank, Hugo OklahomaCity Bank, Muskogee, OklahomaFederal Bank and Trust Company, Shawnee, OklahomaFirst Bank & Trust Company, Sand Springs, OklahomaFirst National Bank of Guthrie, Guthrie, OklahomaFirst National Bank in Madill, Madill, OklahomaFirst National Bank of Prague, Prague, OklahomaFirst National Bank of Seminole, Seminole, OklahomaFirst National Bank, Stillwater, OklahomaFirst Oklahoma Bank and Trust Company, Sulphur, OklahomaOklahoma State Bank, Konawa, Oklahoma

Sovran Bank, Memphis TennesseeMergerFirst National Bank, Collierville, Tennessee

Sovran Bank, Chattanooga, TennesseeMergerFirst Bank of Marion County, South Pittsburg, Tennessee

Assets(millions

of dollars)

Date ofapproval

16 1/9/89

153

657 2/10/89

412634

2395045354040933022

303 2/16/89

54

213 3/1/89

96


1989


16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1989 - Continued

Institution *Assets


Date ofapproval

Macomb County Bank, Richmond, MichiganMergerFirst State Bank of East Detroit, (Clinton Branch),

East Detroit, Michigan

Chemical Bank Bay Area, Bay City, MichiganMergerCass City State Bank, Cass City, MichiganHuron City Bank, Harbor Beach, Michigan ,The Peoples State Bank of Caro, Caro, Michigan ,

Sovran Bank Central South, Nashville, TexasMergerSovran Bank Marshall City, N.A., Lewisburg, Tennessee

First of America Bank-Northern Michigan, Cheboygan, Michigan ,MergerFirst of America-Petoskey, N. A., Petoskey, Michigan ,

First Bank of Stockton/Warren, Stockton, IllinoisMergerFirst National Bank of Freeport, Freeport, IllinoisMount Carroll National Bank, Mount Carroll, Illinois .

First Bank/Dixon, Dixon, IllinoisMergerPolo National Bank, Polo, IllinoisLincolnway State Bank, Sterling, Illinois

First Nebraska Bank-Valley, Valley, Nebraska . . . .MergerFirst Nebraska Bank-Arcadia, Arcadia, Nebraska .

Lake Buchanan State Bank, Buchanan Dam, TexasMergerLake Country National Bank, Burnet, Texas

Pioneer Bank and Trust Company, Belle Fourche, South Dakota ..MergerFirst State Bank, Buffalo, South Dakota

Bank of New York, New York, New YorkMergerIrving Trust Company, New York, New YorkBank of Long Island, Babylon, New YorkDutchess Bank & Trust Company, Poughkeepsie, New YorkNanuet National Bank, Nanuet, New YorkScarsdale National Bank & Trust Company, Scarsdale, New York .

54

6

28

183237

3,200

76

131

165

40

15229

56

3422

78

10

12

6

96

19

23

21294299385498

3/23/89

4/17/89

4/26/89

5/25/89

5/31/89

5/31/89

6/8/89

6/8/89

6/16/89

6/29/89


1989

Tables 241

16.-Continued

InstitutionlAssets


Date ofapproval

First of America Bank-Northern Michigan, Cheboygan, Michigan ..MergerFirst of America Bank-Grand Travers, N. A.,

Traverse City, Michigan

Norstar Bank, Hepstead, New YorkMergerFirst National Bank of Downsville, Downsville, New York

Crestar Bank, Richmond, VirginiaMergerMountain National Bank of Clifton Forge, Clifton Forge, Virginia ..

Sovran Bank/Central South, Nashville, TennesseeMergerSovran Bank/Eastern, Oak Ridge, TennesseeSovran Bank/Hickman County, Centerville, Tennessee

Security Bank and Trust Company, Southgate, MichiganMergerTrenton Bank and Trust Company, Trenton, Michigan

Indian Head Bank and Trust Company, Portsmouth, New Hampshire.MergerIndian Head National Bank, Nashua, New HampshireIndian Head Bank North, Littleton, New HampshireDartmouth National Bank, Hanover, New HampshireIndian Head National Bank of Keene, Keene, New HampshireFleet Bank of New Hampshire, Nashua, New Hampshire

Victoria Bank & Trust Company, Victor, TexasMergerBank of Commerce Calhoun City, Point Comfort, TexasJackson County State Bank, Edna County, Texas

Chemical Bank and Trust Company, Midland, MichiganMergerChemical Bank Bay Area (Saginaw Township Branch),

Bay City, Michigan

American Bank of St. Louis, St. Louis, MissouriMergerAmerican Bank of St. Louis County, Chesterfield, Missouri

Liberty Bank-Oakland, Troy, MichiganMergerLiberty State Bank and Trust, Hamtramck, Michigan

Villa Grove State Bank, Villa Grove, IllinoisMergerFirst National Bank of Villa Grove, Villa Grove, Illinois

131

165

2520

72

10,038

58

3,221

19939

1,403

135

377

976208175166

3

613

952

447

4

117

11

354

99

24

11

6/30/89

7/5/89

7/10/89

8/23/89

8/30/89

8/31/89

9/25/89

10/17/89

10/31/89

11/8/89

11/10/89


1989


16. Mergers, Consolidations, and Acquisitions of Assets or Assumptions of LiabilitiesApproved by the Board of Governors, 1989 - Continued

Institution1

First of America Bank-Northern Michigan, Cheboygan, Michigan ...MergerAntrim County State Bank, Maoncelona, Michigan

Landmark Bank of Highland, Highland, IllinoisMergerLandmark Bank of Alton, Alton, IllinoisLandmark Bank of Madison County, Glen Carbon, Illinois

Union Bank/Streator, Streator, IllinoisMergerUnion Bank/Triumph, Triumph, Illinois

Sovran Bank/Central South, Nashville, TennesseeMergerSovran Bank/Chattanooga, Chattanooga, TennesseeSovran Bank/Greenville, Greenville, TennesseeSovran Bank/Memphis, Memphis, TennesseeSovran Bank/Tri Cities, Johnson City, TennesseeSovran Bank/Union City, Union City, Tennessee

Assets(millions

of dollars)

Date ofapproval

168 11/14/89

32

96 12/1/89

3526

127 12/15/89

18

3,621 12/28/89

21813138895

105

1. Each proposed transaction was to be effected underthe charter of the first-named bank. The entries are in

chronological order of approval.


1989

Tables 243

16, —Continued


The following transactions have no significant effecton competition; they merely facilitate the acquisi-tion of the voting shares of a bank (or banks) by aholding company. In such cases, the summaryreport by the Attorney General indicates that thetransaction will merely combine an existing bankwith a nonoperating institution; in consequence,and without regard to the acquisition of the

surviving bank by the holding company, the mergerwould have no effect on competition. The Board ofGovernors, the Federal Reserve Bank, or theSecretary of the Board of Governors, whicheverapproved the application, determined that theproposal would, in itself, have no adverse compet-itive effects and that the financial factors andconsiderations relating to the convenience and needsof the community were consistent with approval.

Institutionl

New Byron Bank, Byron Center, MichiganMergerByron Center State Bank, Byron Center, Michigan

1st United Interim Bank, Boca Raton, FloridaMergerFirst United Bank, Boca Raton, Florida

Citizens Bank of Virginia, Arlington, VirginiaMergerArlington Bank, Arlington, Virginia

Romney Interim Bank Corporation,MergerBank of Romney, Romney West Virginia

First Interim Bank of Crestview, Crestview, CaliforniaMergerFirst Bank of Crestview, Crestview, California

CB Interim State Bank, Philadelphia, PennsylvaniaMergerConstitution Bank, Philadelphia, Pennsylvania

Effingham Interim Bank, Inc., Effingham, IllinoisMergerEffingham State Bank, Effingham, Illinois

Assets(millions

of dollars)2

Date ofapproval

1/19/89

118

3/7/89

30

3/21/89

64

5/23/89

66

8/4/89

42

11/3/89

117

12/8/89

132

1. Each proposed transaction was to be effected under 2. Where no assets are listed, the bank is newlythe charter of the first-named bank. The entries are in organized and not in operation,chronological order of approval.


1989

42059_1985-1989

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