h2_19711120.pdf

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on

During the Week Ending November 20* 1971.

H.2 No. 47

District Date

Proxy Statement (Special Meeting) Filed Pursuant to Section 14(a) of the Securities Exchange Act

Received 4 Savings and Trust Company of Indiana, Indiana,

Pennsylvania 10-12-71

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

Approved First Virginia Bank, Annandale, Virginia.

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

Received The Connecticut Bank and Trust Company, Hartford,

Connecticut. To establish a branch at University Plaza, Route 195, Mansfield.

Depositors Trust Company, Augusta, Maine. To establish a branch at Main Street, Damariscotta.

Beaver Trust Company, Beaver, Pennsylvania. To establish a branch in the Green Garden Plaza, Green Garden Road, Hopewell Township, Beaver County.

Sedalia Bank and Trust Company, Sedalia, Missouri. To establish a branch at the corner of Broadway and State Fair Boulevard, Sedalia.

Security Trust and Savings Bank, Billings, Montana. To establish a detached branch.

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H. 2 No. 47

Approved *The Central Trust Company, Cincinnati, Ohio.

To establish a branch at 5148 Delhi Pike, Delhi Township, Hamilton County.

*The Cleveland Trust Company, Cleveland, Ohio. To establish a branch at 25890 Emery Road, Warrensvilie Heights, Cuyahoga County.

*The Cortland Savings and Banking Company, Cortland, Ohio. To establish a branch at Sharon-Warren Road, Vienna, Trumbull County.

*The Union Savings & Trust Co., Warren, Ohio. To establish a branch at 2700 Mahoning Avenue, N.W., Warren, Trumbull County.

7 ^Bankers Trust Company, Des Moines, Iowa. To establish a branch at 1552 East Euclid Avenue, Des Moines.

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

Received 6 Commerce Union Bank, Nashville, Tennessee.

To establish a branch in Nassau, Bahamas.

6 National Bank of Commerce, Memphis, Tennessee. To establish a branch in Nassau, Bahamas.

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

Received 4 The Auglaize County Bank, St. Marys, Ohio, for

prior approval to merge The Home Banking Company, St. Marys, Ohio, under the charter and title of the latter.

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

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H.2 1971 No. 47 -3-

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

Received Essex Bancorp, Inc., Lynn, Massachusetts, for 11-19-71

prior approval to acquire at least 80 per cent of the voting shares of Essex County Bank and Trust Company , Lynn, Massachusetts.

First National Bankshares of Florida, Inc., Pompano Beach, Florida, to acquire 80 per cent or more of the voting shares of First National Bank of Pompano Beach, Pompano Beach, Florida; First National Bank of North Broward County, Lighthouse Point, Florida; First National Bank of Margate, Margate, Florida; Beach First National Bank of Pompano Beach, Pompano Beach, Florida.

Approved STS Corporation, Billings, Montana, for prior approval

to acquire 98.68 per cent of the voting shares of Security Trust and Savings Bank, Billings, Montana.

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

Received 1 North Atlantic Bancorp., Newton, Massachusetts, for

prior approval to acquire at least 51 per cent, with a maximum of 95 per cent, of the voting shares of University Trust Company, Cambridge, Massachusetts.

4 First Banc Group of Ohio, Inc., Columbus, Ohio, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to The Ashland Bank and Savings Company, Ashland, Ohio.

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Received continued Atlantic Bancorporation, Jacksonville, Florida, for

prior approval to acquire 80 per cent or more of the voting shares of The First State Bank and Trust Company, Eustis, Florida.

Affiliated Bank Corporation, Madison, Wisconsin, for prior approval to acquire 80 per cent or more of the voting shares of Middleton Shores Bank, Middleton, Wisconsin.

Approved The Chase Manhattan Corporation, New York, New York,

for prior approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of Chase Manhattan Bank of Long Island (N.A.), Melville, Suffolk County, New York, a proposed new bank.

The Central Bancorporation, Inc., Cincinnati, Ohio, for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to The Canal Winchester Bank, Canal Winchester, Ohio.

Virginia Commonwealth Bankshares, Inc., Richmond, Virginia, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Bank of Warren, Front Royal, Virginia.

Virginia Commonwealth Banksharesy Inc., Richmond, Virginia, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Bank of Whaleyville, Inc., Whaleyville, Virginia.

First Tennessee National Corporation (formerly named First National Holding Corporation) Memphis, Tennessee, for prior approval to acquire 100 per cent of the voting shares of the successor by merger to Whites Creek Bank and Trust Company, Whites Creek, Tennessee.

Mercantile Bancorporation Inc., St. Louis, Missouri, for prior approval to acquire up to 100 per cent of the voting shares of Red Bridge Bank, Kansas City, Missouri.

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9 H.2 1971 No. 47 -5-

Approved continued 10 First National Charter Corporation, Kansas City,

Missouri, for prior approval to acquire 80 per cent or more of the voting shares of Bank of Overland, Overland, Missouri.

11 First City Bancorporation of Texas, Inc., Houston, Texas, for prior approval to acquire 52 per cent or more of the voting shares of Humble State Bank, Humble, Texas .

Withdrawn 11 On H.2 No. 35 for the week ended August 28, 1971,

the Board reported receipt of an application from First Southwest Bancorporation, Inc., Waco, Texas, for prior approval to acquire more than 51 per cent of the voting shares of the successor by reorganization to First Bank and Trust of Richardson, Richardson, Texas. In a letter dated November 15, 1971, Applicant requested that the application be withdrawn.

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

Received 2 Lincoln First Banks Inc., Rochester, New York, for

prior approval to acquire 51 per cent of the outstanding voting shares of Lincoln First/Baer Corporation, New York, New York.

5 First Piedmont Corporation, Greenville, South 11-15-71 Carolina, notification of intent to engage in a de novo activity (making or acquiring, for its own account or for the account of others, loans and other extensions of credit) through a subsidiary to be known as First Piedmont Capital Corporation, Greenville, South Carolina.

5 United Virginia Bankshares Incorporated, Richmond, 11-17-71 Virginia, notification of intent to engage in a de novo activity (leasing personal property and equipment) through a subsidiary to be known as United Virginia Leasing Corporation, Richmond, Virginia.

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H. 2 1971 No. 47 - 6 -

Received continued 5 The Equitable Trust Company, Baltimore, Maryland, 11-19-71

notification of intent to engage in a de novo activity (acting as advisor to an as yet unorganized real estate investment trust) in Baltimore, Maryland, through a subsidiary to be known as Mortgage and Equity Consultants, Inc., Baltimore, Maryland, which will be jointly owned with Mathews-Phillips, Inc., Pittsburgh, Pennsylvania.

9 First Bank System, Inc. , Minneapolis, Minnesota, for prior approval to acquire all of the outstanding stock of IDS Credit Corporation, Minneapolis, Minnesota.

Approved 12 Zions Utah Bancorporation, Salt Lake City, Utah, for

prior approval to acquire shares of Guaranty Industrial Bank, Loveland, Colorado.

Delayed 6 Barnett Banks of Florida, Inc., Jacksonville, Florida, 11-15-71

to engage in the following de novo activities:

(1) acting as agent for the sale of insurance for the protection of the bank holding company and its subsidiaries

(2) acting as agent for the sale of group insurance for the protection of employees of the bank holding company and its subsidiaries

(3) acting as agent for the sale of insurance on borrowers and insurance on loan collateral

(4) acting as agent for the sale of insurance on mortgagors and insurance on mortgaged property directly related to mortgage loan servicing provided by subsidiaries of the bank holding company, and renewals, replacements or extensions of such insurance

(5) acting as agent for the sale of insurance on loan collateral directly related to extensions of credit by a real estate investment trust

Such activities will be conducted from the offices of Barnett Banks of Florida, Inc., and of its subsidiaries. This application has been referred to the Board for decision rather than being decided under delegated authority by the Reserve Bank.

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H.2 1971 No. 47 -7-

Permitted** 1 Hartford National Corporation, Hartford, Connecticut, 11-13-71

to engage in a de_ novo activity (making or acquiring, for its own account or for the account of others, loans and other extensions of credit) through a newly formed subsidiary, HNC Mortgage and Realty Investors, Springfield, Massachusetts.

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

Received 7 Gulf & Western Industries, Inc., New York, New 11-16-71

York, notification of intent to acquire shares of Richards International, Inc., New York, New York, a recently formed Delaware corporation which proposes to engage in real estate development and construction both in the United States and abroad.

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

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