h2_19790721.pdf

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM 03.2, 1979 No. 29)

Actions of the Board; Applications and Reports

Received During the Week Ending July 21, 1979 APPLICABLE RESERVE BANK ACTIONS OF TOE BOARD

Full Employment and Balanced Growth Act of 1978, the Board of Governors of the Federal Reserve System submits its Midyear Monetary Policy Report to the Congress.

Discount rate increase frcm 9-1/2 per cent to 10 per cent, effective immediately.

Statement by Governor Henry C. Wallich before the Senate Banking Committee on three current issues in international banking.

Statement by Governor Philip E. Coldwell before the Commerce, Consumer, and Monetary Affairs Sub-committee of House Committee on Government Opera-tions on investments in the United States of the countries that are members of the Organization of Petroleum Exporting Countries.

Letter in response to the New York Clearing House Association proposal to establish domestic Inter-national Banking Facilities that would be able to accept frcm foreign customers deposits free of reserve requirements and interest-rate restrictions.

Policy statement on supervision of U.S. branches and agencies of foreign banks.

Government agencies that supervise federally insured depository institutions announced joint regulations to carry out the provisions of the new Depository Institution Management Interlocks Act.

Federal bank supervisory agencies announced new rules establishing uniform standards for bank recordkeep-ing, confirmation and other procedures in making securities transactions for trust departments and other bank customers, effective January 1, 1980.

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

H.2, 1979 No. 29 - 2

ACTIONS* OF/THE BQARD-Continued

Letter to Commodity Futures Trading Commission com-menting on several proposals to trade futures contracts for delivery of U.S. Treasury Securities.

Atlanta Alabama Bancorporation, Birmingham, Alabama, extension of time to consummate the acquisition of Limestone Bank, N.A., Athens, Alabama. 1/

St. Louis Commercial Bancshares, Inc., Texarkana, Arkansas, ex-tension of time to September 18, 1979, within which to became .a bank holding company through acquisition of Ccrmercial National Bank of Texarkana, Texarkana, Arkansas. 1/

Chicago Independent Bank Corporation, Ionia, Michigan, extension of time to November 30, 1979, within which to acquire 100 per cent of the voting shares of the successor by consolidation to The Olivet State Bank, Olivet, Michigan. V

Atlanta Georgia Railroad Bank and Trust Company, Augusta, Georgia, to make an investment in bank premises . 1/

New York Issuance of a subordinated capital note by Marine Midland Bank, Buffalo, New York. 1/

Deregistration for Guarantee Mutual Life Company, Omaha, Nebraska. 1/

Cleveland Citizens National Bank of Middleport, Middleport, Ohio, proposed merger with The Central Trust Company, National Association, Cincinnati, Ohio; report to the Comptroller of the Currency on competitive factors. I/

Cleveland Commerical Bank, Ashtabula, Ohio, proposed merger with The Lake County National Bank of Painesvi lie, Paines-ville, Ohio; report to the Comptroller of the Currency on competitive factors. 1/

St. Louis Continental Bank and Trust Company, Barling, Arkansas, proposed merger with The Merchants National Bank of Fort Smith, Fort Smith, Arkansas; report to the Comp-troller of the Currency on competitive factors. 1/

1/ Application processed on behalf of the Board of Governors under delegated authority.

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

H.2, 1979 No. 29 - 3 -

ACTIONS OF THE BQARD-Continued

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

Approved Cleveland The Provident Bank, Cincinnati, Ohio. Branch to be

established at 1061 Reading Road, Mason, Warren County. 1/ & 2/

Chicago State Bank and Trust Company of Petoskey, Petoskey, Michigan. Branch to be established on M-131 at 2312 Harbor-Petoskey Road, Creek Township, Emmet County. 1/ & 2/

Chicago Security Bank and Trust Company, Southgate, Michigan. Branch to be established at the southwest corner of Fort and Edison Streets, Southgate, Wayne County. 1/&2/

* * * * *

To Withdraw from Membership in the Federal Reserve System without a Six-month Notice as Prescribed by Section 9 of the Federal Reserve Act

Denied St. Louis Bank of Bluffs, Bluffs, Illinois.

* * * * *

International Investments and Other Actions Pursuant to Section 25 and 25(a) of the Federal Reserve Act and Sections 4(c) (9) and 4(c) (12) of the Bank Holding Company Act of 1956, as amended

Approved New York The Chase Manhattan Bank, N.A., New York, New York:

grants permission to Chase Bank International -Houston, Chase Bank International - Chicago, Chase Bank International - Los Angeles, and Chase Bank International - Miami, to amend Article Ninth of their Articles of Association.

V Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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

i

e e # #

H.2, 1979 No. 29 - 4 -


New York Citibank, N.A., New York, New York: grants consent to purchase and hold 76,609 additional non-voting shares of CityTrust Banking Corporation, Manila, Philippines.

* * * * *

Chicago

Chicago

St. Louis

Minneapolis

Minneapolis

Minneapolis

Minneapolis

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

Approved Indecorp, Inc., Chicago, Illinois, for approval to acquire 100 per cent of the voting shares of Independence Bank of Chicago, Chicago, Illinois, following Independence Bank's merger with Gatavay National Bank of Chicago and Guaranty Bank & Trust Company, both of Chicago, Illinois. 2/

STATE CENTER FINANCIAL, INC., State Center, Iowa, for approval to acquire 83.2 per cent of the voting shares of Central State Bank, State Center, Iowa. 1/ & 2/

Regional Bancshares, Inc., Alton, Illinois, for approval to acquire 86.0 per cent of the voting shares of The Bank of Alton, Alton, Illinois. 1/ & 2/

Greenbush Bancshares, Inc., Greenbush, Minnesota, for approval to acquire 89 per cent of the voting shares of Greenbush State Bank, Greenbush, Minnesota. 1/ & 2/

LSR Services, Inc., New Prague, Minnesota, for ap-proval to acquire 62.6 per cent of the voting shares of State Bank of New Prague, Nev Prague, Minnesota. 1/ & 2/

Pelican Bancshares, Inc., Pelican Rapids, Minnesota, for approval to acquire 86 per cent of the voting shares of Pelican Valley State Bank, Pelican Rapids, Minnesota. 1/ & 2/

St. Anthony National Company, St. Anthony Village, Minnesota, for approval to acquire 93.3 per cent of the voting shares of St. Anthony National Bank, St. Anthony Village, Minnesota. 2/

1/ Application processed on behalf of the Board of Governors under delegated authority.


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

H.2, 1979 No. 29 - 5 -


Minneapolis St. Michael Bancorporation, Inc., St. Michael, Minnesota, for approval to acquire 80 per cent or more of the voting shares of Security State Bank of St. Michael, St. Michael, Minnesota. 2/

Kansas City Columbian Financial Corporation, Olathe, Kansas, for ap-proval through its retention of control of The Columbian Trust Company, Topeka, Kansas. 2/

Kansas City Copper Bancshares, Inc., Silver City, New Mexico, for approval to acquire 80 per cent or more (less directors' qualifying shares) of the voting shares of American National Bank, Silver City, New Mexico. 1/ & 2/

Kansas City First Harrah Corp., Ear rah, Oklahoma, for approval to acquire 80 per cent or more of the voting shares of First State Bank, Harrah, Oklahoma. 2/

Dallas Goldthwaite Bancshares, Inc., Goldthwaite, Texas, for approval to acquire 80 per cent or more (less directors' qualifying shares) of the voting shares of Mills County State Bank, Goldthwaite, Texas. 1/ & 2/

* * * * *

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

Approved Philadelphia Citizens Bancorp, Vineland, New Jersey, for approval to

acquire 100 per cent (except directors' qualifying shares) of the voting shares of Peoples Bank of South Jersey, Clayton, New Jersey. 2/

* * * * *

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

Approved New York Citicorp, New York, New York, for approval to continue

to engage in the activities of the issuance of travelers checks.

%7 Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Comnunity Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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

H.2, 1979 No. 29 - 6 -

ACTIONS OF TOE BQARD-Continued

Atlanta Trust Company of Georgia, Atlanta, Georgia, for approval to acquire the mortgage banking operations of Pickling & Walker, Inc., Macon, Georgia.

Delayed New York The Chase Manhattan Corporation, New York, New York, noti-

fication of intent to engage in de novo activities (offering insurance that assures repayment of an exten-sion of credit in the event of death or disability of the borrower (for example credit life insurance and credit accident and health insurance) directly related to ex-tensions of credit or the provision of financial ser-vices (servicing loans and other extensions of credit) by the bank holding company system; property and casualty insurance directly related to extensions of credit or the provision of financial services (servicing loans and other extensions of credit) by the bank hold-ing company system including physical damage and liability insurance such as, but not limited to, homeowners insur-ance related to first and second mortgage loans and single and dual interest auto insurance; the term extension of credit includes secured and unsecured loans, credit card transactions and loans made by mail) at various locations which were listed on H.2 No. 23, through its subsidiary, CMC Insurance, Inc., Newark, Delaware (7/18/79) 3/

Permitted New York Citicorp, New York, New York, notification of intent to

engage in de novo activities (to engage in soliciting and making consumer installment personal loans (the "ready credit" program formerly kncwn as "executive loan program") and the sale of credit life and accident and health insurance directly related to extensions of credit by Citicorp Person-to-Person Financial Ser-vices, Inc.) at #1 Market Tcwer, 3033 South Parker Road, Aurora, Colorado, through its subsidiary, Citicorp Person-to-Person Financial Services, Inc. (7/9/79) 3/

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (making and servicing in-stallment personal loans, purchasing and servicing in-stallment sales finance contracts, making loans for the account of others such as one-to-four family unit mortgage loans, making loans to individuals and busi-nesses secured by real and personal property, the proceeds of which may be for purposes other than per-sonal, family, or household usage; and the sale of life

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1979 No. 29 - 7 -

ACTimsaF^BQARD-Continued

and accident and health or decreasing or level (for single payment loans) term life insurance, and property and casualty insurance (to include liability coverage on home and automobile policies where such is the general practice) directly related to its extensions of credit by licensed agents or brokers to the extent permissible under applicable State insurance laws and regulations) at 762 Industry Drive, Tukwila, Washington, through its subsidiary, West Coast Credit Corporation d/b/a Fidelity Finance Company (7/21/79) 3/

New York Security Mew York State Corporation, Rochester, New York, notification of intent to engage in de novo activities (to provide information processing services to meet the needs of Security New York State Corporation and others) at 202 East State Street, Ithaca, New York, Building #5, Delaware Park Centre, Olean, New York and 187 Fall Street, Seneca Falls, New York, through its subsidiary, Griffin Computer Services, Inc. (7/15/79) 3/

Cleveland Mellon National Corporation, Pittsburgh, Pennsylvania, notification of intent to engage in de novo activities (general consumer finance activities, including acting as insurance agent with respect to the sale of credit life, credit accident and health insurance) at Peppertree Plaza Shopping Center, 4738 Okeechobee Blvd., West Palm Beach, Florida, through a subsidiary, Freedom Financial Services Corporation (7/19/79) 3/

Richmond Piedmont Corporation, Davidson, North Carolina, notifi-cation of intent to engage in de novo activities (direct lending under The North Carolina Consumer Finance Act and the sale, as agent, of credit related life, accident and health, and property insurance) at Huntersville Shopping Center, Intersection of U.S. Highway 21 and College Street, Huntersville, North Carolina, through a subsidiary, Carolina Finance Company (7/21/79) 3/

Atlanta First Amtenn Corporation, Nashville, Tennessee, notifi-cation of intent to engage in de novo activities (making or acquiring, for its own account or the account of others, loans and other extensions of credit such as would be made by a finance company including secured and unsecured loans to individuals; discounting of installment sales contracts; and secured commercial financing such as dealer floor-plan financing; and lease financing; and acting as agent or broker in

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1979 No. 29 - 8 -


selling the following types of insurance to borrowing customers: credit life insurance, accident and health insurance, and property damage insurance on collateral supporting loans made by Atlantic Discount Company, Inc.) at 4004 Hillsboro Road, Nashville, Tennessee, through a subsidiary, Atlantic Discount Company, Inc. d/b/a Atlantic Consumer Services of Tennessee, Inc. (7/19/79) 3/

Chicago Northern Trust Corporation, Chicago, Illinois, notifi-cation of intent to engage in de novo activities (to engage in trust activities) in the Royal Poinciana Plaza, Palm Beach, Florida, through a subsidiary, Security Trust Company of Palm Beach (7/15/79) 3/

San Security Pacific Corporation, Los Angeles, California, Francisco notification of intent to engage in de novo activities

(mortgage lending and loan servicing activities) at 5284 South 320 West, Murray, Utah, through its sub-sidiary, Security Pacific Mortgage Corporation (7/22/79) 3/

* * * * *


Permitted Chicago Lumbermans Mutual Casualty Company and Kemper Corpora-

tion, both of Long Grove, Illinois, notification of intent to acquire indirectly 100 per cent of the outstanding cannon stock of Orkeny Agency, through their wholly-owned subsidiary, LaBow, Haynes Company, Inc. (7/19/79) 3/

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Govennors under delegated authority.

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

H.2, 1979 No. 29 - 9 -

APPLICATIONS RECEIVED

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

Atlanta Commerce Union Bank, Nashville, Tennessee. Branch to be established at 790 Old Hickory Boulevard, Brentwood. 2/

Atlanta Sun Bank of Ocala, Ocala, Florida. Branch to be established on the southwest corner of Maple Street and East Pennsylvania Avenue, Dunnellon, Marion County. 2/

Atlanta First State Bank of Pensacola, Pensacola, Florida. Branch to be established at 102 East Garden Street, Pensacola. 2/

St. Louis Louisville Trust Bank, Louisville, Kentucky. Branch to be established in the Audubon Medical Plaza, at the corner of Poplar Level Road and McKinley Avenue, Louisville, Jefferson County. 2/

Chicago Farmers Loan and Trust Company, Tipton, Indiana. Branch to be established at the Junction of State Roads 28 and 19, Tipton. 2/

Chicago Manufacturers Bank of Livonia, Livonia, Michigan. Branch to be established on the west side of Middlebelt Road between Seven Mile Road and Clarita Avenue, Livonia, Wayne County. 2/

* * * * *

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

Boston Patriot Bancorporation, Boston, Massachusetts, for approval to acquire 100 per cent of the outstanding shares (except directors' qualifying shares) of the voting shares of Habor National Bank of Boston, Boston, Massachusetts and Brookline Trust Company, Brookline, Massachusetts. 2/

Minneapolis Alexandria Securities and Investment Company, Alexandria, Minnesota, for approval to acquire 80 per cent of the voting shares of the Community State Bank, Alexandria, Minnesota. 2/



H. 2, 1979 No. 29 - 10 -

APPLICATIONS RECEIVED-CQntinued

Minneapolis C.S.B. Financial, Inc., Chetek, Wisconsin, for approval to acquire 82.62 of the voting shares of Chetek State Bank, Chetek, Wisconsin. 2/

Minneapolis Melrose Bancshares, Inc., Melrose, Minnesota, for approval to acquire 80.16 per cent of the voting shares of the Melrose State Bank, Melrose, Minnesota. 2/

Kansas City Lawson Bancshares, Inc., Lawson, Missouri, for approval to acquire 80 per cent or more of the voting shares of Lawson Bank, Lawson, Missouri. 2/

Dallas First Neches Bancorp Shares, Inc., Vidor, Texas, for approval to acquire 80-100 per cent (less directors1 qualifying shares) of the voting shares of Vidor State Bank, Vidor, Texas. 2/

Dallas Leon County Bancshares, Inc., Buffalo, Texas, for approval to acquire 80-100 per cent (less directors' qualifying shares) of the voting shares of Citizens State Bank, Buffalo, Texas. 2/

* * * * *

Chicago

Chicago

Chicago

Chicago

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

Chemical Financial Corporation, Midland, Michigan, for approval to acquire 100 per cent of the voting shares of the successor by consolidation to Citizens Bank and Trust Company, Clare, Michigan. 2/

Michigan National Corporation, Bloanfield Hills, Michigan, for approval to acquire 100 per cent of the voting shares of Michigan Bank - Livingston, Brighton, Michigan, a proposed new bank. 2/

Michigan National Corporation, Bloanfield Hills, Michigan, for approval to acquire 100 per cent of the voting shares of Michigan Bank - Midland, Midland, Michigan, a proposed new bank. 2/

Michigan National Corporation, Bloanfield Hills, Michigan, for approval to acquire 100 per cent of the voting shares of Michigan Bank - Northwest, Petoskey, Michigan, a proposed new bank. 2/

2/ Application subject to Carmunity Reivestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.


H.2, 1979 No. 29 - 1 1 -

APPLICATIONS RECEIVED-Continued

Chicago Michigan National Corporation, Blocmfield Hills, Michigan, for approval to acquire 100 per cent of the voting shares of Michigan Bank - South Metro, Lincoln Park, Michigan, a proposed new bank. 2/

Chicago National Detroit Corporation, Detroit, Michigan, for approval to acquire 80 per cent or more of the voting shares of Farmers and Merchants National Bank in Benton Harbor, Benton, Harbor, Michigan. 2/

Minneapolis Mams Investment Company, Fergus Falls, Minnesota, for approval to acquire an additional 5.7 per cent of the voting shares of The First National Bank of Fergus Falls, Fergus Falls, Minnesota. 2/

Dallas Southwest Bancshares, Inc., Houston, Texas, for approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of Dallas Bank and Trust Company, Dallas, Texas. 2/

Dallas Victoria Bankshares, Inc., Victoria, Texas, for approval to acquire 100 per cent of the voting shares (less directors1 qualifying shares) of The First State Bank of Taft, Taft, Texas. 2/

* * * * *


Boston First National Boston Corporation, Boston, Massachusetts, notification of intent to engage in de novo activi-ties (making, acquiring and servicing for its own account or for the account of others, loans and other extensions of credit including those secured by mortgages of residential or commercial properties or leasehold interests therein; furnishing economic or financial information on real estate matters; providing portfolio investment advice concerning real estate matters; and providing all such other services and engaging in all such other activities as are incidental to the foregoing) at 1499 West Palmetto, Park Road, Boca Raton, Florida, through a wholly-cwned subsidiary, First of Boston Mortgage Corporation (7/17/79) 3/

2/ Application subject to Community Reinvestment Act. The Community ~~ Reinvestment Officer of the applicable Reserve Bank may be contacted

as to the length of the comment period. 3/ 4(c) (8) or 4(c) (12) notification processed by 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

H.2, 1979 No. 29 - 1 2 -

APPLICATIONS RECIVED-Continued

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (activities that may be performed or carried on by a trust company including activities of a fiduciary, agency or custodian nature and/or of an investment advisory business) through a de novo trust company sub-sidiary at One South East Third Avenue, Miami, Florida (7/20/79) 3/

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (making consumer installment personal loans, purchasing and ser-vicing for its own account consumer installment sales finance contracts; making loans for the account of others such as one-to-four family unit mortgage loans; making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other than personal, family or household usage; and the sale of credit related life and accident and health or decreasing or level (in the case of single payment loans) term life insurance by licensed agents or brokers to the extent permissible under applicable State insurance laws and regulations; in regard to credit related insurance, the business of a general insurance agency will not be conducted; credit related decreasing term life insurance and accident and health insurance may be reinsured by Family Guardian Life Insurance Company, an affiliate of Citicorp Person-to-Person Financial Center of Florida, Inc.) at 7261 U.S. 19 North, Pinellas Park, Florida, through its subsidiary, Citicorp Person-to-Person Financial Center of Florida, Inc. (7/20/79) 3/

New York Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activi-ties (leasing real and personal property on a full payout basis and acting as agent, broker or advisor in leasing of such property in accordance with the provisions of regulations promulgated by the aforesaid Board of Governors of the Federal Reserve System and making and acquiring for its own account or for the account of others, loans and other ex-tensions of credit with respect to such property and servicing such leases, loans and other extensions of credit) at the Renaissance Center, Detroit, Michigan, through its subsidiary, Manufacturers Hanover Leasing Corporation (7/19/79) 3/

3/ 4(c)(8) or 4(c)(12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.


H.2, 1979 No. 29 13 -

APPLICATIONS RECEIVED-CQntinued

New York Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activi-ties (arranging, making or acquiring for its own account or for the account of others, loans and other extensions of credit such as would be made or acquired by a mortgage company; servicing any such loan and other extensions of credit for any persons; acting as agent or broker, through an indirect subsidiary known as CMC Insurance Agency, Inc. for the sale of credit life insurance and credit accident and health insurance relating to such loans and other extensions of credit) at Suite B, 316, 3101 West Peoria Avenue, Phoenix, Arizona, through its subsidiary, Manufacturers Hanover Mortgage Corporation (7/17/79) 3/

New York Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activi-ties (arranging, making or acquiring for its own account or for the account of others, loans other extensions of credit such as would be made or acquired by a mortgage company; servicing any such loans and other extensions of credit for any person; acting as agent or broker, through an indirect sub-sidiary known as CMC Insurance Agency, Inc. for the sale of credit life insurance and credit accident and health insurance relating to such loans and other ex-tensions of credit) at Alvemon Place, 655 N. Alvemon Way, Tucson, Arizona, through its subsidiary, Manu-facturers Hanover Mortgage Corporation (7/20/79) 3/

Philadelphia New Jersey National Corporation, Trenton, New Jersey, notification of intent to engage in de novo activities (making, acquiring, selling and servicing for its own account or the account of others, loans and other ex-tensions of credit principally secured by mortgages) at 19 Bala Avenue, Bala Cvnwyd, Pennsylvania, through its direct subsidiary, Underwood Mortgage and Title Company (7/13/79) 3/

Atlanta Tennessee National Bancshares, Inc., Maryville, Tennessee, for approval to acquire Southeastern Life Insurance Company, Phoenix, Arizona.

Chicago HICKORY BANCORP, INC., Hickory Hills, Illinois, notification of intent to engage in de novo activities (to engage in selling as agent of credit life and health and accident insurance related to extensions of credit by its subsidiary bank) at 7800 W. 95th Street, Hickory Hills, Illinois, through its subsidiary, Hickory Insurance Agency, Inc. (7/16/79) 3/

I/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf ~~ of the Board of Governors under delegated authority.


H.2, 1979 No. 29 14

APPLICATIONS BBCEIVED-Continued

Minneapolis Northwest Bancorporation, Minneapolis, Minnesota, notification of intent to engage in de novo activities (providing computerized audit soft-ware services to nonaffiliated banks) at 968 Northwestern Bank Building, Minneapolis, Minnesota, through a subsidiary, Banco Incorporated (7/16/79) 3/

* * * * *

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

New York Warner Communications Inc., New York, New York, notification of intent to acquire all the business of Western Arizona CATV Inc., Parker, Arizona (7/19/79) 3/

* * * * *

REPORTS RECEIVED

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

Citizens Ccmnerical & Savings Bank, Flint, Michigan.

The Ohio Citizens Trust Company, Toledo, Ohio.

Peoples Bank of Danville, Danville, Virginia.

* * * * *

PETITIONS FOR RULEMAKING

None.

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf ~ of the Board of Governors under delegated authority.

Chicago

Cleveland

Richmond


h2_19790721.pdf

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