h2_19730407.pdf

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ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on H.2 1973 No. 14 During the Week Ending April 7, 1973

District Date

Registration Statement Filed Pursuant to Section 12(g) of the Securities Exchange Act

Received 4 The Union Bank and Savings Company, Bellevue, Ohio 3-28-73

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

Received 6 Union Bank & Trust Company, Montgomery, Alabama 4-6-73

8 Southwest Bank of St. Louis, St. Louis, Missouri 4-4-73

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

Approved 5 ^Hamilton Bank and Trust Company, Baileyrs Crossroads,

Virginia.

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

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

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

Received The Connecticut Bank and Trust Company, Hartford, Connecticut. Branch to be established in the vicinity of Queen Street and Church Hill Road, Newton.

State Bank of Albany, Albany, New York* Branch to be established at 111 Delaware Avenue, Delmar, Albany County.

The Peoples-Merchants Trust Company, Canton, Ohio. Branch to be established at 3022 Atlantic Blvd, Canton, Stark County.

United Virginia Bank of Fairfax, Vienna, Virginia. Branch to be established at the Old Keene Mill Shopping Center, 8400 Old Keene Mill Road, West Springfield.

Mountain Trust Bank, Roanoke, Virginia. Branch to be established at 5110 Williamson Road, N.W., Roanoke.

Manistee Bank & Trust Company, Manistee, Michigan. Branch to be established at 17222 Caberfae Highway, Village of Wellston.

Citizens Commercial & Savings Bank, Flint, Michigan. Branch to be established in the vicinity of 2242 West Vienna Road, Vienna Township, Genessee County.

Security Bank and Trust Company, Southgate, Michigan. Branch to be established at 3256 Fort Street, Lincoln Park.

Bank of Lansing, Lansing, Michigan. Branch to be established at the point of the Intersection of Waverly Road and Franette Street, Lansing.

First American Bank, Memphis, Tennessee. Branch to be established at 4135 Elvis Presley Boulevard, Memphia, Whitehaven.


H.2 1973 No.' 14 - 3 -

Received Continued 8 Citizens Fidelity Bank and Trust Company, Louisville,

Kentucky. Branch to be established in the Professional Towers Building located in ,rThe Village"" area near Breckinridge Land and the Watterson Expressway Interchange, St. Matthews, Jefferson County.

Approved 3 *The Fidelity Bank, Rosemont, Montgomery County, Pennsylvania.

Branch to be established in the Springfield Mall, Northwest corner of Baltimore Pike and Sproul Road, Springfield, Delaware County.

4 ''The Union Commerce Bank., Cleveland, Ohio. Branch to-be established at 13126 Shaker Square, Cleveland, Cuyahoga County.

4 -The Barter Bank & Trust Company, Canton, Ohio, Branch to be established at 932 North Main Street, North Canton, Stark County,

4 *The Peoples-Merchants Trust Company, Canton, Ohio. Branch to be established at 612 South Prospect Street, Village of Hartville, Stark County.

5 ^Liberty Trust Company of Maryland, Cumberland, Maryland. Branch to be established on North Mechanic Street at its Intersection with Bedford Street, Cumberland, Allegany County.

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

Received 3 First Pennsylvania Banking & Trust Company, Bala Cynwyd,

Pennsylvania. To establish a branch in Singapore0

5 The Fidelity National Bank, Lynchburg, Virginia0 To establish a branch in Cayman Islands, B.W.I.

•Âpplication processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.


H. 2 1973 No. 14 - 4 -

Received Continued 12 First National Bank of Oregon, Portland, Oregon. To

establish a branch in Georgetown, Grand Cayman Islands, B.W.I.

12 Seattle-First National Bank, Seattle, Washington, To establish a branch in London, England.

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Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country

Received The Chase Manhattan Bank, National Association, New York. To establish an additional branch in the Virgin Islands at Harry S, Truman Airport, St. Thomas.

The Chase Manhattan Bank, National Association, New York. To establish an additional branch in Puerto Rico at Caguas.

First National City Bank, New York. To establish an additional branch in Colombia to be located in Bucaramanga.

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To Organize, or Invest in, a Corporation Doing Foreign Banking and Other Foreign Financing Pursuant To Section 25 or 25(a) of the Federal Reserve Act

Withdrawal Western Pennsylvania National Bank, Pittsburg, Pennsylvania.

To organize a corporation to be known as Western Pennsylvania International Investment Corporation to be located in Pittsburg, Pennsylvania.

Approved First National Bank of Chicago, Illinois. To organize a corporation to be known as First Chicago International in San Francisco, California.


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H. 2 1973 No. 14

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Approved Continued First National Bank of Chicago, Illinois. To organize a corporation to be known as First Chicago International in Los Angeles, California.

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H.2 1973 No. 14 - 6 -

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

Received 5 Iron City Eagle Coal Company, Lockwood, West

Virginia, for prior approval to acquire 87.49 per cent or more of the voting shares of The Gauley National Bank of Gauley Bridge, Gauley Bridge, West Virginia.

7 Whitmore Bancorporation, Inc., Corning, Iowa, for prior approval to acquire 80 per cent or more of the voting shares of The Page County State Bank, Clarinda, Iowa.

11 Union Bancor, Inc., Tucson, Arizona, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Union Bank, Tucson, Arizona.

Approved 7 United Michigan Corporation, Flint, Michigan,

for prior approval to acquire 100 per cent of the voting shares of the successor by consolidation with Genesee Merchants Bank & Trust Co., Flint, Michigan.

10 The Farmers & Merchants Insurance Agency, Inc., Colby, Kansas, for prior approval to acquire 80 per cent or more of the voting shares of The Farmers and Merchants State Bank, Colby, Kansas.

10 **0wens Investment Company, Weeping Water, Nebraska, 4-6-73 for prior approval to acquire 80 per cent or more of the voting shares of Nebraska State Bank, Weeping Water, Nebraska.

Suspended 10 On H.2 No. 51 (1972), the Board reported receipt

of an application from Federal National Bank-shares, Inc., Shawnee, Oklahoma, for prior approval to acquire 98.97 per cent of the voting shares of The Federal National Bank & Trust Company of Shawnee, Shawnee, Oklahoma. This application is now in suspense awaiting receipt of Applicant's reply to a Comptroller of the Currency letter to the Board dated March 23, 1973.

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


H.2 1973 No. 14 " 7 -

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

Received 5 First Virginia Bankshares Corporation, Falls

Church, Virginia, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to The First National Bank in Onancock, Onancock, Virginia.

8 First Union, Incorporated, St. Louis, Missouri, for prior approval to acquire 91.2 per cent or more of the voting shares of Chesterfield Bank, Chesterfield, Missouri.

11 First International Bancshares, Inc., Dallas, Texas, for prior approval to acquire 100 per cent (less directorsf qualifying shares) of the voting shares of The State National Bank of Denison, Denison, Texas.

11 First International Bancshares, Inc., Dallas, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Temple National Bank, Temple, Texas.

11 PanNational Group, Inc., El Paso, Texas, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Bassett National Bank of El Paso, El Paso, Texas.

11 **PanNational Group, Inc.,-El Paso, Texas, 4-5-73 for prior approval to acquire 1,124 shares through a rights offering of Citizens State Bank of Ysleta, El Paso, Texas.

Approved 11 **Briscoe Ranch, Inc., Uvalde, Texas, for prior 4-6-73

approval to acquire 20,616 shares,through a rights offering of Highland Park State Bank, San Antonio, Texas.



H.2 1973 No. 14

To Expand a Bank Holding Company Pursuant to Section 3(a)(5) of the Bank Holding Company Act of 1956

Suspended On H.2 No. 4, the Board reported receipt of an

application from United Tennessee Bancshares Corporation, Memphis, Tennessee, for prior approval to merge with American National Corporation, Chattanooga, Tennessee. This application is now in suspense awaiting receipt of Applicant's reply to a Department of Justice letter to the Board dated April 2,1973.

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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 **Shawmut Association, Inc., Boston, Massachusetts, 4-2-73

notification of intent to engage in de_ novo activities (making or acquiring loans and other extensions of credit such as would be made by a commercial finance company; and servicing such loans) through a subsidiary to be known as Shawmut Credit Corp., in Boston, Massachusetts; and New York, New York.

**Fidelity Union Bancorporation, Newark, New Jersey, 3-23-73 notification of intent to engage in a de novo activity (providing, storing and processing banking, financial, or related economic data, such as performing payroll, accounts receivable or payable, or billing services) through a subsidiary known as Fidelity Union Sharedata Corp., in East Orange, New Jersey.

First Jersey National Corporation, Jersey City, New Jersey, for prior approval to acquire loans, accounts and notes receivable, and fixed assets of Atlantic City Loan Company, Atlantic City, New Jersey.



H.2 1973 No. 14 - 9 -

Keceived Continued 2 **First National City Corporation, New York, 3-30-73

New York, notification of intent to engage in de novo activities (making consumer installment personal loans, purchasing consumer installment sales finance contracts; and acting as broker for the sale of consumer credit related life-accident and health insurance, consumer credit related property and casualty insurance; if this proposal is effective, it will offer to sell insurance as follows: (a) credit life-accident & health insurance to cover the outstanding balances of loans to borrowers in the event of their death, or to make the contractual monthly payments on the loan in the event of the borrowers disability, (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements) through its wholly-owned subsidiary Acceptance Finance Company, in Moore, Oklahoma; Kenner, Louisiana; Austell, Georgia; and Tucson, Arizona.

2 **First National City Corporation, New York, 4-6-73 New York, notification of intent to engage in de_ novo activities (making consumer installment personal loans, purchasing consumer installment sales finance contracts; and acting as broker for the sale of consumer credit related life-accident and health insurance, and consumer credit related property and casualty insurance; if this proposal is effective, it will offer to sell insurance as follows: (a) credit life-accident & health insurance to cover the outstanding balances of loans to borrowers in the event of their death, or to make the con-tractual monthly payments on the loan in the event of the borrowers disability, (b) individual casualty insurance on property, generally automobiles and household goods, subject to security agreements) through its wholly-owned subsidiary Acceptance Finance Company, in Las Vegas, Nevada.

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


H. 2 1973 No. 14 - 10 -

Received Continued 5 idelitv American Bankshares, Inc., Lynchburg, 4-4-73

Virginia, notification of intent to engage in de novo activities (granting and servicing loans secured by mortgages (principally second mortgages to individuals) and acting as agent in the sale of credit accident insurance in connection with such loans) through its subsidiary, Columbia Mortgage Company, in Virginia Beach, Norfolk, Portsmouth, Newport News, and Hampton, Virginia.

6 **Barnett Banks of Florida, Inc, Jacksonville, 4-2-73 Florida, notification of intent to engage in a de_ novo activity (acting as investment adviser to the extent of providing portfolio investment advice and administrative services to a publicly-owned corporation engaged in investing in ownership interests income-producing real estate) in Jacksonville, Florida, through a subsidiary to be known as Barnett Winston Property Advisers, Inc.

6 **Citizens and Southern Holding Company, Atlanta, 4-2-73 Georgia, 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 (including issuing letters of credit and accepting drafts) such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and 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) in Dallas, Texas, through a subsidiary known as Citizens and Southern Factors, Inc.


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H - 2 11 1973 No. 14 - 11 -

Received Continued 6 **Citizens and Southern Holding Company, Atlanta, 4-6-73

Georgia, notification of intent to engage in djB novo activities ((1) making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts) such as would be made by a mortgage company; (2) servicing loans and other extensions of credit for any person; and (3) acting as investment or financial adviser, including (i) serving as the advisory company for a mortgage or real estate investment trust, and (ii) furnishing economic or financial in-formation) in Hilton Head Island, South Carolina, through a subsidiary known as Citizens and Southern Mortgage Company.

6 **Citizens and Southern Holding Company, Atlanta, 4-4-73 Georgia, 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 (including issuing letters of credit and accepting drafts) such as would be made by a factoring company; (2) servicing loans and other extensions of credit for any person; and (3) leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property, where at the inception of the initial lease the expectation is that the effect of the transaction and reasonably anticipated future transactions with the same lessee as to the same property will be to compensate the lessor for not less than the lessor1s full investment in the property) in Los Angeles, California, through a subsidiary known as Citizens and Southern Factors, Inc.



H. 2 1973 No. 14 - 12 -

Received Continued 6 **Citizens and Southern Holding Company, Atlanta, 4-5-7 3

Georgia, 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 (including issuing letters of credit and accepting drafts) such as would be made by a mortgage company; (2) servicing loans and other extensions of credit for any person; and (3) acting as investment or financial adviser, including (i) serving as the advisory company for a mortgage or real estate investment trust, and (ii) furnishing economic or financial information) in Columbia, South Carolina, through a subsidiary known as Citizens and Southern Mortgage Company.

7 American Fletcher Corporation, Indianapolis, Indiana, for prior approval to acquire certain of the assets of Chappie Loan Company, Muskegon, Michigan.

7 **First Chicago Corporation, Chicago, Illinois, 4-6-73 notification of intent 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 known as First Chicago Lease Holdings, Inc., Chicago, Illinois.

11 **First Bancorp, Inc., Corsicana, Texas, notification 4-5-73 of intent to engage in de_ novo activities (mortgage lending and servicing) through a new wholly-owned subsidiary known as Old Reliable Mortgage Co., Inc., in Corsicana, Ennis, Malakoff, and Fairfield, Texas.



H-2 ' 1973 No. 14 - IJ -

Received Continued 12 **BankAmerica Corporation, San Francisco, 4-4-73

California, notification of intent to engage in a de novo activity (acting as an insurance agent with respect to credit life and credit disability insurance that is directly related to an extension of credit by Bank of America National Trust and Savings Association, a wholly-owned subsidiary (except for directors' qualifying shares) of BankAmerica Corporation) through a subsidiary to be known as BA Insurance Agency, Inc., in San Francisco, California.

12 **Wells Fargo & Company, San Francisco, 3-29-73 California, notification of intent to engage in a de novo activity (finance leasing of personal property and equipment, and acting as agent, broker, and adviser in leasing such property) through its subsidiary, Wells Fargo Leasing Corporation, in Houston, Texas.

6 Amendment: On H.2 No. 4, the Board reported receipt of an application from Pan American Bancshares, Inc., Miami, Florida, for prior approval to acquire all of the outstanding shares of Atico Financial Corporation, Miami, Florida. In a letter dated March 30, 1973, Applicant requested separate Board consideration and authorization for the mortgage banking and insurance agency, activities.

Approved 10 The Farmers & Merchants Insurance Agency, Inc.,

Colby, Kansas, for prior approval to continue to engage in the activities of a general in-surance agency in a community of less than 5,000 persons.



H.2 1973 No. 14 " 14 "

Delayed 6 **First Bancshares of Florida, Inc., Boca Raton, 4-5-73

Florida, notification of intent to engage in a de novo activity (acting as a general insurance agency for First Bancshares of Florida, Inc., its affiliated banks and subsidiaries, in connection with their general banking or bank-connected activities) in Fort Lauderdale, Florida, through a subsidiary to be known as Fleming Insurance Agency, Inc.

Permitted 5 ^Mercantile Bankshares Corporation, Baltimore, 4-8-73

Maryland, to engage in de novo activities (making or acquiring, for its own account or for the account of others, loans and other extensions of credit (including issuing letters of credit and accepting drafts) such as would be made by a factoring company, a commerical finance company, consumer finance company, and mortgage company; servicing loans and other extensions of credit for any person; and 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 trans-action 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 Mercantile Financial Corporation, in Baltimore, Maryland.

6 **The Citizens and Southern National Bank, and its 4-6-73 wholly-owned subsidiary, Citizens and Southern Holding Company, Atlanta, Georgia, to engage in de novo activities (acting as investment and financial advisers by rendering investment advice and portfolio management service to individuals, corporations, pension and profit-sharing plans, private foundations and endowments) in New Orleans, Louisiana, through its present subsidiary, Citizens and Southern Investment Counseling, Incorporated.



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Permitted Continued 6 **First National Holding Corp., Atlanta, Georgia, 4-7-73

to engage in a de novo activity (leasing personal property and equipment, or acting as agent, broker, or adviser in leasing of such property) through a subsidiary known as First South Leasing Company, Atlanta, Georgia.

7 'Âmerican Fletcher Corporation, Indianapolis, 4-2-73 Indiana, to engage in de novo activities (making, acquiring, or servicing loans or other extensions of credit for personal, family or household purposes; and acting as broker with respect to insurance directly related to said extension of credit) in Memphis, Tennessee, through its subsidiary American Fletcher Financial Corporation, Indianapolis, Indiana.

12 **BanCal Tri-State Corporation, San Francisco, 4-2-73 California, to engage in a de novo activity (leasing personal property and equipment, and acting as agent, broker, and adviser in the leasing of such property, including but not limited to the leasing of equipment, wherever located, or whatever kind, type or nature, for the account of said subsidiary, or as agent, broker, or adviser in the leasing of any such property for or on behalf or with respect to any other person) through a subsidiary to be known as BanCal Leasing Company, in New York, New York; San Francisco and Los Angeles, California.



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H.2 1973 No. 14 - 1 6 -

Permitted Continued 12 **BanCal Tri-State Corporation, San Francisco, 4-2-73

California, to engage in a de novo activity (acting as investment or financial adviser including but not limited to (i) serving as the advisory company for a mortgage or a real estate investment trust; (ii) serving as investment adviser, as defined in section 2 (a)(20) of the Investment Company Act of 1940,to an investment company registered under that Act; (iii) providing portfolio investment advice to any other person; (iv) furnishing general economic statistical forecasting services and industry studies; and (v) providing financial advice to State and local governments such as with respect to the issuance of their securities) through" a subsidiary known as BanCal Investment Management Company, in New York, New York; San Francisco and Los Angeles, California.

Withdrawn 12 On H.2 No. 49 (1972), the Board reported receipt

of an application from Crocker National Corporation, San Franciso, California, for prior approval to acquire 100 per cent of the shares of Schumacher Mortgage Company, Inc., Memphis, Tennessee. In a letter dated March 13, 1973, Applicant requested, effective the date of the merger, that its application to engage in property management activities be withdrawn.

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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 2 **The Sperry and Hutchinson Company, New York, 4-5-73

New York, notification of intent to acquire Homecrest Company , and B & E Industries Inc., Wadena, Minnesota, through its subsidiary, Daystrom Furniture, Inc., South Boston, Virginia.



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H.2 1973 No. 14 - 17 -

Permitted 9 **Archer-Daniels-Midland Company, Decatur, 4-5-73

Illinois, to acquire all the shares of common stock of Salina Terminal Elevator Company, and Central Kansas Milling and Elevator Company, consisting of three grain terminals and 24 county elevators located throughout Oklahoma, Kansas, Nebraska, Colorado and Wyoming.

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

Withdrawn Family Finance Corporation, Wilmington, Delaware.


h2_19730407.pdf

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