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ANNOUNCEMENT BY
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Applications and Reports Received or Acted on H.2 1972 No 39
During the Week Ending September 23, 1972
District Date
To Become a Member of the Federal Reserve System Pursuant to
Section 9 of the Federal Reserve Act
Received 7 Southridge Bank of Greendale, Greendale,
Wisconsin.
9 Citizens State Bank, Clark, South Dakota.
9 Bank of Lemmon, Lemmon, South Dakota.
To Withdraw from Membership in the Federal Reserve System
Without a Six Month Notice as Prescribed by Section 9 of the
Federal Reserve Act
Received 7 Union Bank and Trust Company, Strawberry Point,
Iowa.
To Establish a Domestic Branch Pursuant to Section 9 of the
Federal Reserve Act
Received 1 Bar Harbor Banking and Trust Company, Bar Harbor,
Maine. Branch to be established on Maine Street, Milbridge.
5 First Virginia Bank, Falls Church, Virginia. Branch to be
established at the intersection of Centreville Road and Parchcr
Avenue, Fairfax County.
7 American Bank and Trust Company, Lansing, Michigan, Branch to
be established at 6420 South Cedar Street, Lansing.
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Reserve Bank of St. Louis
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H,2 1972 No. 39
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Received Continued Bay City Bank & Trust Company, Bay City,
Michigan. Branch to be established at 3521 Wilder Road, Bangor
Township, Bay City.
Citizens Trust and Savings Bank, South Haven, Michigan. Branch
to be established at the intersection of Blue Star Memorial Highway
(Old U.S. and M-43), South Haven Township.
Approved 2 -Hempstead Bank, Hempstead, New York. Branch to
be
established in the immediate neighborhood of the intersection of
Green and Main Streets, unincorporated village of Huntington,
Suffolk County.
2 *Security Trust Company of Rochester, Rochester, New York.
Branch to be established in the southwest corner of the First Floor
of the George Eastman Memorial Building, Rochester Institute of
Technology, Jefferson Road and East River Road, Town of Henrietta,
unincorporated area, Monroe County.
^Bankers Trust Company, New York, New York. Branch to be
established at 144-08 243rd Street, Rosedale, Queens County,
*Valley Bank of New York, Valley Stream, New York. Branch to be
established at 204 Long Beach Boulevard, incorporated village of
Island Park, Nassau County.
*Long Island Trust Company, Garden City, New York. Branch to be
established at the intersection of Hicksville-Massapequa Road and
Louis Street, Bethpage, Town of Oyster Bay, Nassau County.
^Marine Midland BankWestern, Buffalo, New York. Branch to be
established in the immediate neighborhood of the intersection of
Transit and Shimer Roads, Town of Lockport, Niagara County.
7 -Old Kent Bank and Trust Company, Grand Rapids, Michigan.
Branch to be established (drive-in facility) in the vicinity of the
intersection of 68th Street, S. E. and Eastern Avenue, S. E.,
Cutlerville, Gaines Township, Kent County,
^Applications processed by the Reserve Bank on behalf of the
Board of Governors under delegated authority.
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Reserve Bank of St. Louis
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To Establish an Overseas Branch of a Member Bank Pursuant to
Section 25 of the Federal Reserve Act
Received The Fidelity Bank, Rosemont, Pennsylvania. Branch to be
established in London, England.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
To Form a Bank Holding Company Pursuant to Section 3(a)(1) of
the Bank Holding Company Act of 1956
Received **Banc of Main Corporation, Augusta, Maine, for
prior
approval to acquire at least 80 per cent of the voting shares of
the successor by merger to the Bank of Maine, N.A., Augusta,
Maine,
**Republic New York Corporation, New York, New York, for prior
approval to acquire 100 per cent of the voting shares of the
successor by merger to Republic National Bank of New York, New
York, New York.
Peninsular Holding Corporation of Michigan, Grand Rapids,
Michigan, for prior approval to acquire 100 per cent (less
directorsf qualifying shares) of the voting shares of the successor
by merger to Union Bank and Trust Company (National Association),
Grand Rapids, Michigan.
10 Elmer Crosley and Sons Investment Corporation, Center,
Nebraska, for prior approval to acquire 198 1/2 of the voting
shares of Center State Bank, Center, Nebraska.
Approved 9 **St Croix Banco, Inc., New Richmond, Wisconsin,
for prior approval to acquire 80 per cent or more of the voting
shares of the Bank of New Richmond, New Richmond, Wisconsin.
10 Graham-Michaelis Financial Corporation, Wichita, Kansas, for
prior approval to acquire 80 per cent or more of the voting shares
of Wichita State Bank, Wichita, Kansas.
9-20-72
9-19-72
9-19-72
^Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No, 39
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Approved Continued 10 L&L Holding Company, Fort Collins,
Colorado, for
prior approval to acquire 56 per cent or more of the voting
shares of Rocky Mountain Bank and Trust Company, Fort Collins,
Colorado.
12 Independent Bankshares Corporation, San Rafael, California,
for prior approval to acquire 100 per cent (less directorsf
qualifying shares) of the voting shares of the successors by merger
to Bank of Marin, San Rafael, California; Bank of Sonoma Countyj
Sebastopol, California; and The First National Bank of Cloverdale,
Cloverdale, California.
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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 **Atlantic Bancorporation, Jacksonville, Florida,
9-18-72
for prior approval to acquire 100 per cent (except directorsT
qualifying shares) of the voting shares of Westside Atlantic Bank,
Palm Beach County, Florida, a proposed new bank.
Third National Corporation, Nashville, Tennessee, for prior
approval to acquire 100 per cent of the voting shares of the
successor by merger to Merchants Bank, Cleveland, Tennessee.
Third National Corporation, Nashville, Tennessee, for prior
approval to acquire 100 per cent (less directors' qualifying
shares) of the voting shares of The First National Bank of
Lawrenceburg, Lawrenceburg, Tennessee.
**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
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Received Continued Northern States Financial Corporation,
Detroit, Michigan, for prior approval to acquire 100 per cent of
the voting shares of the successor by merger to Bank of Lansing,
Lansing, Michigan.
7 Twin Gates Corporation, Wilmington, Delaware, for prior
approval to acquire 19.32 per cent of the voting shares of the
successor by merger to Bank of Lansing, Lansing, Michigan.
7 Security National Corporation, Sioux City, Iowa, for prior
approval to acquire 80 per cent or more of the voting shares of
Northwestern State Bank of Orange City, Orange City, Iowa.
7 United Banks of Wisconsin, Inc., Madison, Wisconsin, for prior
approval to acquire 95 per cent or more of the voting shares of The
Kraft State Bank, Menomonie, Wisconsin.
8 Boone County Insurance Agency, Inc., Centralia, Missouri, for
prior approval to acquire an additional 25.65 per cent of the
voting shares of The First National Bank of Centralia, Centralia,
Missouri.
10 The Kemmerer Corporation, New York, New York, for prior
approval to acquire 50 per cent or more of the voting shares of The
First National Bank of Kemmerer, Kemmerer, Wyoming, through the
acquisition of First Wyoming Bancorporation, Kemmerer, Wyoming.
11 **Dynamerica Corporation, Richardson, Texas, for 9-20-72
prior approval to acquire 57 per cent or more of the voting shares
of American National Bank of Garland, Garland, Texas, a proposed
new bank.
**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39 -7-
Received Continued 11 First National Bank in Dallas, Dallas,
Texas, and
First National Securities Company in Dallas, Dallas, Texas, for
approval to retain 1,029 shares of Citizens State Bank of Irving,
Irving, Texas.
11 First National Bank in Dallas, Dallas, Texas and First
National Securities Company in Dallas, Dallas, Texas, for approval
to retain 743 shares of the voting shares of DeSoto State Bank,
DeSoto, Texas.
11 Texas Commerce Bancshares, Inc., Houston, Texas, for prior
approval to acquire The Citizens National Bank of Lubbock, Lubbock,
Texas.
Approved 5 Equitable Bancorporation, Baltimore, Maryland,
for prior approval to acquire 80 per cent or more of the voting
shares of Farmers and Merchants Bank of Hagerstown, Maryland,
Hagerstown, Maryland.
6 Southeast Banking Corporation, Miami, Florida, for prior
approval to acquire 80 per cent or more of the voting shares of
Manatee National Bank of Bradenton, Bradenton, Florida.
Reactivated 9 On H.2 No. 30 (1971), the Board reported receipt
of
an application from Northwest Bancorporation, Minneapolis,
Minnesota, for prior approval to acquire the voting shares of
Farmers and Merchants State Bank of Stillwater, Stillwater,
Minnesota. This application was placed in suspense awaiting the
holding of a public Hearing on the case. Following receipt of the
Recommended Decision of the Hearing Examiner dated September 13,
1972, this application has been reactivated.
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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 1 **First National Boston Corporation, Boston,
8-24-72
Massachusetts, notification of intent to engage in cle novo
activities (financing and providing services in connection with the
financing of minority business organizations) through a subsidiary
to be known as First Venture Capital Corporation of Boston, Boston,
Massachusetts.
**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
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Received Continued 2 First Commercial Banks Inc., Albany, New
York,
for prior approval to acquire not less than 95 per cent of the
outstanding common shares of Schenectady Discount Corporation,
Colonie, New York.
4 **Equimark Corporation, Pittsburgh, Pennsylvania, 9-18-72 and
its wholly-owned subsidiary Atlantic Management Corporation, Silver
Springs, Maryland, notification of intent to engage in de novo
activities ((1) making or acquiring, for its own account or for the
account of others, loans and other extensions of credit; (2)
servicing loans and other extensions of credit; (3) making
available to its borrowers, at the borrowerTs option, group credit
life, accident, and health insurance covering the balance of the
borrowerfs indebtedness) through a subsidiary known as Landmark
Finance Corporation of Charleston, Charleston Heights, South
Carolina.
6 **Jefferson Bancorp, Inc., Miami Beach, Florida, 9-18-72
notification of intent to engage in de novo activities (accounts
receivable financing, mortgage financing, factoring, and servicing
loans and other extensions of credit) in Orlando, Florida, through
its present subsidiary, Jefferson Capital Corporation.
7 **First Chicago Corporation, Chicago, Illinois, 9-18-72
notification of intent to engage in a de_ novo activity (acting as
an investment or financial adviser to the extent of (a) serving as
investment adviser; (b) providing portfolio investment advice to
other persons; and (c) furnishing general economic information and
advice, general statistical forecasting services and industry
studies) through subsidiaries known as First Chicago Fiduciary and
Investment Services Corporation, Chicago, Illinois, and Starwood
Associates, Inc., New York, New York.
^Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
Received Continued 12 **Security Pacific Corporation, Los
Angeles, 9-21-72
California, notification of intent to engage in a de novo
activity (leasing personal property and equipment, and acting as an
agent, broker, or advisor in leasing of such property, where at the
inception of the initial lease the expectation is that the effect
of the transaction and reasonable anticipated future transactions
with the same lessee as to the same property will be to compensate
the lessor for not less than the lessor1 s full investment in the
property). Such an activity is to be conducted through a subsidiary
to be known as Security Pacific Leasing Corporation, to be located
in Los Angeles, California.
Approved 10 L&L Holding Company, Fort Collins, Colorado,
for
prior approval to engage in insurance agency activities through
the acquisition of the assets of W&W Insurance Agency, Fort
Collins, Colorado.
10 Third National Corporation, Nashville, Tennessee, for prior
approval to acquire 100 per cent of the voting shares of Friendly
Finance, Incorporated, Paducah, Kentucky.
Delayed 8 **U. N. Bancshares, Inc., Springfield, Missouri,
9-21-72
notification of intent to engage in de novo activities (the
originating, purchasing, selling and servicing of mortgage loans on
residential, commercial and industrial properties, as well as loans
of other kinds and types) through a subsidiary known as Missouri
Mortgage & Investment Co., in a general mortgage company
operation. Such activities will be conducted in temporary offices
located in Springfield, Missouri.
**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H. 2 1972 No. 39
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1 **Industrial National Corporation, Providence, Rhode 9-18-72
Island, to continue to engage in a de novo activity (leasing of
personal property and equipment) through a subsidiary known as
Industrial Leasing Corporation, to be located at 50 Executive Park
South, N.E., Atlanta, Georgia.
2 **Chemical New York Corporation, New York, New York, 9-18-72
to engage in de novo activities (providing real estate financing
principally through short-term land, development and construction
mortgage loans; also act as advisor and counsellor to Chemical Bank
as well as its servicing agent with regard to the bank's customer
real estate lending activities) through a subsidiary known as
Chemical Realty Corporation, New York, New York.
2 **United Bank Corporation of New York, Albany, New 9-23-72
York, to engage in a de novo activity (leasing personal property
and equipment, and acting as agent, broker, or adviser in leasing
such property) through a wholly-owned subsidiary, UBC Leasing of
New York Inc., Albany, New York.
4 **First Banc Group of Ohio, Inc., Columbus, Ohio, 9-17-72 to
engage in a de novo activity (leasing personal property and
equipment, and acting as agent, broker, or advisor in leasing of
such property) through a subsidiary known as First Group Leasing
Corporation, Columbus, Ohio.
6 **Central and State Corporation of Alabama, Birmingham,
9-23-72 Alabama, to engage in a de novo activity (leasing personal
property and equipment, or acting as agent, broker, or adviser in
leasing of such property, where at the inception of the initial
lease the expectation is that the effect of the transaction and
reasonably anticipated future transactions with the same lessee as
to the same property will be to compensate the lessor for not less
than the lessor's full investment in the property) through a
subsidiary to be known as CSN Leasing, Inc., Birmingham,
Alabama.
^Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
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Permitted Continued 8 **First Tennessee National Corporation,
Memphis, 9-21-72
Tennessee, to engage in a d_e novo activity (the rendering of
trust administration and clerical services and the solicitation of
the appointment of banking affiliates of First Tennessee National
Corporation as fiduciaries, and in solicitation of the appointment
of First Tennessee Investment Management, Inc., as investment and
financial adviser) through a subsidiary to be known as First
Tennessee Trust Service Corp. The activities are to be conducted at
offices in Johnson City, Tennessee.
10 **United Banks of Colorado, Inc., Denver, Colorado, 9-21-72
to engage in de novo activities (general mortgage banking business,
including the origination of real estate mortgage loans, the
purchase of mortgage loans from others, and the sale of loans to
and servicing of loans for investors; the company will also
continue to perform various activities for its affiliated banks,
such as assembling credit information, making property inspections
and appraisals, securing title information and soliciting mortgage
investors) through a subsidiary, United Mortgage Company, in
Breckenridge, Durango and Montrose, Colorado.
12 **Marine Bancorporation, Seattle, Washington, to engage
9-21-72 in a de novo activity (making or acquiring for its own
account or for the account of others, loans and other extensions of
credit). Such an activity to be conducted through an office of its
subsidiary, Coast Mortgage Company, to be located in Aloha,
Oregon.
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**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis
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H.2 1972 No. 39
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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 10 ^^Arizona-Colorado Land & Cattle Company,
Phoenix, 9-21-72
Arizona, notification of intent to acquire an interest in Texas
Beef Producers, Dumas, Texas.
Permitted 4 **American Financial Corporation, Cincinnati, Ohio,
9-18-72
to acquire through an exchange of shares Gates-Stone &
Company, Denver, Colorado, a corporation engaged in the business of
general insurance agency.
**Processed by Reserve Bank on behalf of the Board of Governors
under delegated authority.
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Reserve Bank of St. Louis