ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Transcription

1 ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Applications and Reports or Acted on H. 2 During the Week Ending October 21, 1972 District pate Registration Statement Filed Pursuant to Section 12(g) of the Securities Exchange Act 6 Greene County Bank, Greeneville, Tennessee (Amendment #1) 11 Main Bank and Trust, San Antonio, Texas (Amendment #1) k "k k "k k Current Report Filed Pursuant to Section 13 of the Securities Exchange Act Old Kent Bank and Trust Company, Grand Rapids, Michigan. (October 1972) * * * * * To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act 2 Manufacturers and Traders Trust Company, Buffalo, New York. Branch office to be established at 14 South Main Street, Village of Perry, Wyoming County. 2 Manufacturers Hanover Trust Company, New York, New York. Branch to be established at the southeast corner of Fulton and Hemlock Streets, Borough of Brooklyn, New York City.

2 -2- Continued 7 First Michigan Bank and Trust Company, Zealand, Michigan. Branch to be established at th Avenue, Jenison, Georgetown Township, Ottawa County. 8 First American Bank, Memphis, Tennessee. Branch to be established at 147 Jefferson Avenue, Memphis, site of present main office quarters. 2 -Peoples Trust of New Jersey, Ilackensack, New Jersey. Branch to be established at One University Plaza, Fairleigh Dickinson University, Hackensack, Bergen County. 2 -The County Trust Company, White Plains, New York. Branch to be established at 1150 Knollwood Road, Town of Greenburgh, Westchester County. 7 -First Bank and Trust Company of South Bend, South Bend, Indiana. Branch to be established at the corner of Lincoln Way West and Maplewood Avenue and Commerce Drive, South Bend. 7 ^Monroe County Bank of Dundee, Dundee, Michigan. Branch to be established at the corner of Lewis Avenue and Smith Road (southeast corner), Bedford Township, Monroe County. 12 "'"United California Bank, Los Angeles, California. Branch to be established in the vicinity of intersection of Powell Street and Eastshore Freeway, City of Emeryville, Alameda County. *Application processed by the Reserve Bank on behalf of the Board of Governors under

3 -3- To Carry Reduced Reserves Pursuant to Section 19 of the Federal Reserve Act 7 Midwest National Bank, Indianapolis, Indiana Metropolitan National Bank, Houston, Texas To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act 1 Industrial National Bank, Providence, Rhode Island. Branch to be established in Grand Cayman, Cayman Islands. *k -> }< -k -,v Thirty Day Notice of Intention to Establish An Additional Branch in a Foreign Country 2 Morgan Guaranty Trust Company of New York, New York, New York. Branch office to be established at Equitable House, King William Street, London E.G.4, England. -k -k * -k *

4 -4- To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of **Bancshares of New Jersey, Camden, New Jersey, for prior approval to acquire 100 per cent of the voting shares of The Bank of New Jersey, Camden, New Jersey. 6 North Shore Capital Corporation, Chicago, Illinois, for prior approval to acquire 200,142 shares of the voting shares of The North Shore National Bank of Chicago, Chicago, Illinois. 10 On No. 6 the Board reported receipt of an application from The C-M Co., Inc., Medicine Lodge, Kansas, for prior approval to retain 90 per cent of the voting shares of The Isabel State Bank, Isabel, Kansas. An amended application was filed and accepted as of 10/10/ **Centennial Bank Corporation, Englewood, Colorado, for prior approval to acquire 80 per cent or more of the voting shares of Centennial State Bank, Englewood, Colorado. 10 Survco Bancorp, Inc., Sugar Creek, Missouri, for prior approval to acquire 94 per cent of the voting shares of Sugar Creek National Bank, Sugar Creek, Missouri. **Nationa.l Central Financial Corporation, Lancaster, Pennsylvania, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the outstanding voting shares of the successor by merger to National Central Bank, Lancaster, Pennsylvania. **Processed by Reserve Bank on behalf of the Board of Governors under

5 -5- Continued Ridge Bancorporation of Wisconsin, Greendale, Wisconsin, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Northridge Bank, Milwaukee, Wisconsin, and 100 per cent (less directors' qualifying shares) of the voting shares of Southridge Bank of Greendale, Greendale, Wisconsin, a proposed new bank, organized solely for the purpose of acquiring the assets and assuming the liabilities of Southridge National Bank of Greendale, Greendale, Wisconsin. Correction: 2 **0n No. 41 the Board reported as approved an application from LITCO Corporation of New York, Garden City, New York, for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Long Island Trust Company, Garden City, New York. This should have been reported as follows: LITCO Corporation of New York, Garden City, New York, for prior approval to acquire 100 per cent of the voting shares of Long Island Trust Company, Garden City, New York. Delayed 2 **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.. Denied 10 Valley Agency Company, Valley, Nebraska, for prior approval to acquire 79 per cent of the voting shares of Bank of Valley, Valley, Nebraska. ^Processing by Reserve Bank on behalf of the Board of Governors under

6 \ To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Manufacturers Hanover Corporation, Dover, Delaware, for prior approval to acquire 100 per cent of the voting shares of Citizens Bank of Monroe, Monroe, New York. Southwest Bancshares, Inc., Houston, Texas, for prior approval to acquire 100 per cent (less directors 1 qualifying shares) of the voting shares of Gulf Coast National Bank, Houston, Texas. Fidelity American Bankshares, Inc., Lynchburg, Virginia, for prior approval to acquire 90 per cent or more of the voting shares of Citizens National Bank of Herndon, Herndon, Virginia. Fidelity American Bankshares, Inc., Lynchburg, Virginia, for prior approval to acquire 80 per cent or more of the voting shares of Peoples Corporation, Virginia Beach, Virginia, a one-bank holding company which owns 100 per cent (less directors 1 qualifying shares) of the voting shares of People 1 s Bank of Virginia Beach, Virginia Beach, Virginia. Fidelity American Bankshares, Inc., Lynchburg, Virginia, for prior approval to acquire 90 per cent or more of the voting shares of Fairfield National Bank of Highland Springs, Highland Springs, Virginia. Consolidated Bankshares of Florida, Inc., Fort Lauderdale, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Union Trust National Bank of St. Petersburg, St. Petersburg, Florida.

7 -7- Continued 6 First Alabama Bancshares, Inc., Birmingham, Alabama* for prior approval to acquire not less than 80 per cent of the voting shares of Dothan Bank & Trust Company, Dothan, Alabama. 6 First Financial Corporation, Tampa, Florida, for prior approval to acquire not less than 80 per cent of the voting shares of Lake Region Bank of Commerce, Winter Haven, Florida. 6 Southeast Banking Corporation, Miami, Florida, for prior approval to acquire 80 per cent or more of the voting shares of The Bank of Orange Park, Orange Park, Florida. 9 Bronken Agency, Inc., Barron, Wisconsin/for prior approval to acquire 40.8 per cent of the voting shares of Bank of Barron, Barron, Wisconsin. 11 First City Bancorporation of Texas, Inc., Houston, Texas, for prior approval to acquire 100 per cent (except directors* qualifying shares) of the voting shares of the successor by merger to First National Bank in Orange, Orange, Texas. * * * * * To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of **Hartford National Corporation, Hartford, Connecticut, notification of intent to engage in a de novo activity (origination, negotiation and making of loans secured by real estate) through a subsidiary to be known as HNC Realty Company- Chicago, Chicago, Illinois. **Processed by Reserve Bank on behalf of the Board of Governors under

8 Continued 2 **First Jersey National Corporation, Jersey City, New Jersey, notification of intent to engage in de novo activities (making secured and unsecured loans, and in connection therewith the sale of credit life, credit accident and health insurance) through a wholly-owned subsidiary, located in Lancaster, Pennsylvania. 3 First Pennsylvania Corporation, Philadelphia, Pennsylvania, for prior approval to acquire the assets, including notes receivable, fixed assets and the stock of three wholly-owned subsidiaires of American Loan and Finance Company, Hamilton, Ohio. 6 **United Bancshares of Florida, Inc., Miami Beach, Florida, notification of intent to engage in a de novo activity (providing portfolio investment advice for any other person and furnishing general economic information and advice, general economic forecasting services and industry studies) in Fort Lauderdale, Florida, through its present subsidairy, First Investment Advisory Corporation. 7 Security National Corporation, Sioux City, Iowa, for prior approval to acquire 100 per cent of the voting common shares of Central Leasing Corporation, Sioux City, Iowa. 7 Security National Corporation, Sioux City, Iowa, for prior approval to acquire 100 per cent of the voting common shares of Siouxland Credit Corp., Sioux City, Iowa. **Processed by Reserve Bank on behalf of the Board of Governors under

9 -9- Continued 9 **Bancorporation of Montana, Great Falls, Montana, notification of intent to engage in a de novo activity (trust company) through a newly-formed subsidiary to be known as Trust Corporation of Montana, Great Falls, Montana. 9 **First Bank System, Minneapolis, Minnesota, notification of intent to engage in a de novo activity (mortgage banking) indirectly through its wholly-owned subsidiary, FBS Financial, Inc (formerly IDS Credit Corporation) Minneapolis, Minnesota On No. 6 the Board reported receipt of an application from The C-M Co., Inc., Medicine Lodge, Kansas, for prior approval to acquire The Clyde S. Boots Insurance Agency, Isabel, Kansas. On 10/10/72 an amended application was filed and accepted to become a bank holding company. 10 Survco Bancorp, Inc., Sugar Creek, Missouri, for prior approval to acquire 100 per cent of the voting shares of Surco Company, Sugar Creek, Missouri. 12 **Marine Bancorporation, Seattle, Washington, notification of intent to engage in cte novo activities ((1) making or acquiring for its own account, loans and other extensions of credit primarily in connection with the financing of the purchase, construction, maintenance or repair of aircraft and aircraft equipment, and loans and extensions of credit upon the security of aircraft and related equipment; (2) leasing personal property and equipment, primarily aircraft and related equipment, where at the inception of **Processed by Reserve Bank on behalf of the Board of Governors under

10 10 Continued 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 its full investment in the property; (3) acting as insurance agent or broker, in the office of Commerce Credit Company, with respect to insurance that is directly related to an extension of credit by Commerce Credit Company or is otherwise sold as a matter of convenience to the purchaser through its wholly-owned subsidiary, Commerce Credit Company (formerly King County Building Co.) doing business as Commerce Aviation Company. Such activities are to be conducted at 1100 Second Avenue and 1331 North Northlake Way, Seattle, Washington. 5 United Virginia Bankshares Incorporated, Richmond, Virginia, for prior approval to acquire certain of the assets subject to certain of the liabilities of Crompton-Richmond Co., Inc., Factors, New York, New York. Denied 10 Valley Agency Company, Valley, Nebraska, for prior approval to continue to engage in insurance agency activities in a community with a population of less than 5,000 persons. Permitted 1 **Hartford National Corporation, Hartford, Connecticut, to continue to engage in a de_ novo activity (origination, negotiation, and making of loans secured by real estate) through a subsidiary known as HNC Realty Company, New York City, New York. **Processed by Reserve Bank on behalf of the Board of Governors under

11 -11- Permitted Continued 5 **Dominion Bankshares Corporation, Roanoke, Virginia, to engage in de novo activities (making and servicing personal loans secured by first and second mortgages and acting as agent in sale of credit life insurance in connection with such mortgage loans) in Richmond, Virginia, through its present subsidiary State Mortgage Corporation, 6 **Great American Corporation, Baton Rouge, Louisiana, to engage in <de novo activities (making and acquiring, for its own account, loans, discounts, acceptances, and other extensions of credit, and other such business as is customarily engaged in by a consumer credit or finance company) in Alexandria, Louisiana, through its present subsidiary, Ambank Acceptance Corporation, doing business as American Acceptance Associates. 8 **First Tennessee National Corporation, Memphis, Tennessee, 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 wholly-owned subsidiary to be known as First Tennessee Leasing Corporation, Memphis, Tennessee. 10 **Midwestern Financial Corporation, Denver, Colorado, to continue to engage in a de novo activity (origination and sale to investors of first mortgage residential real estate loans) through a subsidiary, Kassler and Co. of California, in Oakland, Oxnard, Downey, and El Monte, all in California **Processed by Reserve Bank on behalf of the Board of Governors under

12 -12- Permitted Continued 10 **Midwestern Financial Corporation, Denver, Colorado, to continue to engage in a de novo activity (origination and sale to investors of first mortgage residential real estate loans) through a subsidiary, Kassler and Co., in Evergreen Park, Illinois; Chicago, Illinois; Littleton, Colorado; and San Francisco, California. 10 **United Financial Corporation, Hutchinson, Kansas, to engage in a dhe novo activity (leasing personal property and equipment, or acting as agent, broker or adviser in leasing of such property) through a subsidiary to be known as Polaris Leasing Corporation in Hutchinson, Kansas. 12 **Hawaii Bancorporation, Honolulu, Hawaii, to engage in a de novo activity (leasing personal property and equipment, 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). Such activity will be conducted at the offices of Hawaii Bancorporation, Honolulu, Hawaii. Withdrawn 2 **United Jersey Banks, Hackensack, New Jersey, notification of intent to engage in de novo activities (to act as a broker or agent for the purchase, sale or underwriting of insurance of all kinds, types and coverage, to the full extent permitted by law) through a subsidiary known as United Jersey Insurance Agency Inc., Hackensack, New Jersey. * * * * * ^Processed by Reserve Bank on behalf of the Board of Governors under

13 -13- To Expand a Bank Holding Company Pursuant to Section 4(c)(12) of the Bank Holding Company Act of **The Sperry and Hutchinson Company, New York, New York, to acquire Mohawk Furniture Corporation and Rutledge Realty Corporation, Morristown, Tennessee, through its wholly-owned subsidiaries, LEA Industries, Inc., and Tennessee Furniture Industries, Inc., Morristown, Tennessee. Permitted 7 **0n No. 42 the Board reported receipt of a notification from KemperCo, Inc., Long Grove, Illinois, of intent to acquire automobile and casualty Company, Los Angeles, California, which is licensed to write automobile and general casualty insurance. The 45-day period has been accelerated. **Processed by Reserve Bank on behalf of the Board of Governors under