ANNOUNCEMENT BY. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (H.2, 1976 No. 32) Actions of the Board; Applications and Reports

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1 # ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (H.2, 1976 No. 32) Actions of the Board; Applications and Reports Received During the Week Ending August 7, 1976 ACTIONS OF THE BOARD Notice of proposed rulemaking relating to providing management consulting advice; the Board will receive comment on the proposed amendment to its Regulation Y and on a related application through September 8, Stanley Bancshares, Inc., Stanley, Kansas, extension of time to August 9, 1976, within which to file its registration statement. If SYB Corporation, Oklahoma City, Oklahoma, extension of time to September 9, 1976, within which to consummate acquisition of the Stock Yards Bank, Oklahoma City, Oklahoma. If Termination of registration under Regulation G for Anniston Production Credit Association, Anniston, Alabama. 1/ Bank of Suffolk County, Hauppauge, New York, extension of time within which to establish a public accommodation office at the intersection of First Avenue and Second Street, St. James, Suffolk County, New York. 1/ Bank of Lansing, Lansing, Michigan, to make an investment in bank premises. If United California Bank, Los Angeles, California, extension of time to February 21, 1977, within which to establish a branch in the vicinity of the intersection of Stevens Creek Boulevard and Saich Way, City of Cupertino, California. 1/ Ahmanson Bank and Trust Company, Beverly Hills, California, proposed acquisition by California Overseas Bank, Beverly Hills, California; report to the Federal Deposit Insurance Corporation on competitive factors. V Application processed on behalf of the Board of Governors under delegated authority.

2 H.2, 1976 No ACTIONS OF THE BOARD-Continued Central National Bank, Waterville, Maine, proposed merger with Canal National Bank, Portland, Maine; report to the Comptroller of the Currency on competitive factors. Chester Bank, N.A., Chester, New York, proposed merger with The Chester National Bank, Chester, New York; report to the Comptroller of the Currency on competitive factors. Heights Bank, National Asssociation, Alamo Heights, Texas, proposed merger with Alamo Heights National Bank, Alamo Heights, Texas; report to the Comptroller of the Currency on competitive factors. Hardwick Trust Company, Hardwick, Vermont, proposed merger with The Merchants Bank, Burlington, Vermont; report to the Federal Deposit Insurance Corporation on competitive factors. Subsidiaries of City National Bank Corporation, Miami, Florida, proposed acquisition by City National Bank of Miami, Miami, Florida; report to the Comptroller of the Currency on competitive factors. United Jersey Bank/City National, Vineland, New Jersey, proposed merger with The Cumberland National Bank of Bridgeton, Bridgeton, New Jersey; report to the Comptroller of the Currency on competitive factors. NOTE: The H.2 release is now published in the Federal Register. It will continue to be sent, upon request, to anyone desiring a copy.

3 H.2, 1976 No ACTIONS OF THE BOARD-Continued To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Approved Richwood Banking Company, Richwood, Ohio. Branch to be established at 601 West Main Street, Plain City, Union County. Capital City State Bank, Des Moines, Iowa. Branch to be established at 1237 Grand Avenue, West Des Moines. 2/ Peoples Bank & Trust Company, Russellville, Arkansas. Branch to be established at the intersection of D Street and North Arkansas Avenue, Russellville, Pope County. 2/ Valley Bank and Trust Company, Salt Lake City, Utah. Branch to be established in the vicinity of 2100 East & 1300 South in Salt Lake City. 2/ To become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved Laurel Bank of Kansas City, Kansas City, Missouri. 2/ ***** International Investments and Other Actions Approved Pursuant to Sections 25 and 25(a) of the Federal Reserve Act and Sections 4(c)(9) and 4(c)(13) of the Bank Holding Company Act of 1956, as amended Citicorp: proposed plan of divestiture regarding various subsidiaries of IAC (Holdings) Limited, Melbourne, Australia. Continental International Finance Corporation: investment - additional in Banco Atlantico, Barcelona, Spain. Manufacturers National Bank of Detroit: for an indefinite extension of its recently expired authorization to acquire additonal shares of Atlantic International Bank Limited, London, England. 2J Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority.

4 H.2, 1976 No ACTIONS OF THE BOARD-^tinued To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 Approved CUbank Corp., Columbus, Ohio, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of The Alexandria Bank Company, Alexandria, Ohio. Peoples Bankshares, Ltd., Waterloo, Iowa, for approval to acquire 56 per cent or more of the voting shares of Peoples Bank and Trust Company, Waterloo, Iowa. 2/ First Yukon Bankshares, Inc., Oklahoma City, Oklahoma, for approval to acquire per cent of the voting shares of The First National Bank of Yukon, Yukon, Oklahoma. To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Delayed Otto Bremer Company and Otto Bremer Foundation, St. Paul, Minnesota, notification of intent to engage in de novo activities (providing certain investment financial or economic information and advice) at 1300 Northern Federal Building, 385 North Wabasha Street, St. Paul, Minnesota, through a subsidiary, Bremer Service Company, Inc. (8/6/76) 3/ Approved Fort Sam Houston Bankshares, Incorporated, San Antonio, Texas, for approval to acquire 100 per cent of the voting shares of Greenwood Life Insurance Company, San Antonio, Texas. Permitted Bank of Virginia Company, Richmond, Virginia, notification of intent to engage in de_novo activities (making loans or extensions of credit such as would be made by a finance company; and acting as agent for credit life/accident and health insurance and other insurance written to protect collateral during the period of credit extension) at 3416 Jefferson Davis Highway, Richmond, Virginia, through a subsidiary, The Budget Plan Company of Virginia (8/7/76) 3/ 2/ Application processed by the Reserve Bank on behalf of the Board of Governors under delegated authority. 3/ 4(c)(8) and 4(c) (12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority. Digitized for FRASER

5 11.2, 1976 No ACTIONS OF THE BOARD-Continued Ashton Investment Company, Rock Rapids, Iowa, notification of intent to engage in de novo activities (leasing of real property on a one time basis where at the inception of the initial lease the expectation is that the effect of the transaction will be to compensate the lessor for not less than the lessor f s full investment in the property plus the estimated cost of financing the investment over the term of the lease) at 104 North Story Street, Rock Rapids, Iowa (8/2/76) 3/ BankAmerica Corporation, San Francisco, California, notification of intent to relocate de novo activities (making of consumer installment loans, purchasing installment sales finance contracts, and making of loans to small businesses; acting as agent or broker for the sale of credit related life/accident and disability insurance, and credit related property and casualty insurance in connection with extensions of credit by FinanceAmerica Corporation) 1717 Main Street, Columbia to 17 Diamond Lane, Columbia, South Carolina, through its subsidiary, FinanceAmerica Corporation (South Carolina) (8/1/76) 3/ Security Pacific Corporation, Los Angeles, California, notification of intent to relocate de_novo activities (the origination and acquisition of mortgage loans, including development and construction loans on multifamily and commercial properties for its own account or for the sale to others, and the servicing of such loans for others) from Valley Boulevard, El Monte to 1520 West Cameron, West Covina, California, through its subsidiary, Security Pacific Mortgage Corporation (8/1/76) 3/ Wells Fargo & Company, San Francisco, California, notification of intent 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, servicing loans and other extensions of credit for other persons; acting as an insurance agent or broker with respect to the following types of insurance that are directly related to the extension of credit by Wells Fargo & Company or its subsidiaries: credit life and credit accident and health insurance, and mortgage redemption life insurance and group mortgage disability insurance) at 201 East Monte Vista, Vacaville, California, through its subsidiaries, Wells Fargo Mortgage Company and WFMC Corporation (8/6/76) 3J 3/ 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

6 H.2, 1976 No ACTIONS OF THE BOARD-Continued Withdrawn Liberty National Corporation, Oklahoma City, Oklahoma, notification of intent to engage in cie novo activities (making or acquiring, for its own account or the account of others, loans or other extensions of credit) at 100 Broadway, Oklahoma City, Oklahoma (8/4/76) 3/ 3/ 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

7 H.2, 1976No APPLICATIONS RECEIVED To Retain Bank Shares Acquired in a Fidiciary Capacity Pursuant to Section 3 of the Bank Holding Company Act of 1956 The First Community Bancorporation, Joplin, Missouri, for approval to retain shares of First National Bank of Sarcoxie, Sarcoxie, Missouri. First United Bancorporation, Inc. and The First National Bank of Fort Worth, both located in Fort Worth, Texas, for approval to retain 2,725 shares of University Bank, located in Fort Worth, Texas. A * * * A To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act The Northern Virginia Bank, Springfield, Virginia. Branch to be established in the Saratoga Shopping Center in the 8000 Block of Rolling Road, Springfield. American Guaranty Bank, Tampa, Florida. Branch to be established at 1315 South Dale Mabry, Tampa. To be known as American Guaranty Bank-Interbay Branch. Davenport Bank and Trust Company, Davenport, Iowa. Branch to be established at the Southeast corner of Kimberly Road and U.S. Highway 6, Davenport. Commerce Union Bank of Memphis, Memphis, Tennessee. Branch to be established at 2930 Airways Boulevard, Memphis, Shelby County. Platte Valley Bank, Brighton, Colorado. Branch to be established at 12th and Bridge Street, Brighton. To Withdraw from Membership in the Federal Reserve System Without a Six-Month Notice as Prescribed by Section 9 of the Federal Reserve Act Citizens Bank of Cape Vincent, Cape Vincent, New York.

8 H.2, 1976 Noj^2 APPLICATIONS RECEIVED-Continned To Form a Bank Holding Company Pursuant to Section 3(a)(1) of the Bank Holding Company Act of 1956 M & D Holding Company, Spring Lake Park, Minnesota, for approval to acquire 92 per cent of the voting shares of First State Bank of Spring Lake Park, Spring Lake Park, Minnesota. Quivira Banc Shares, Inc., Hutchinson, Kansas, for approval to acquire 80 per cent or more of the voting shares of The First National Bank of Sterling, Sterling, Kansas. The Spalding City Corporation, Spalding Nebraska, for approval to acquire 80 per cent or more of the voting shares of Spalding City Bank, Spalding Nebraska. To Expand a Bank Holding Company Pursuant to Section 3(a)(3) of the Bank Holding Company Act of 1956 Trust Company of Georgia, Atlanta, Georgia, for approval to acquire 80 per cent or more of the voting shares of Security National Bank, Smyrna, Georgia. Dakota Bancorporation, Rapid City, South Dakota, for approval to acquire 80 per cent of the voting shares of First National Bank of Crosby, Crosby, North Dakota, a proposed new bank. First Midwest Bancorp., Inc., St. Joseph, Missouri, for approval to acquire 80 per cent or more of the voting shares of Platte Valley Bank, Ravenwood, Missouri. Seilon, Inc., Toledo, Ohio, for approval to acquire 5,509 additional shares of the voting shares of Nevada National Bancorporation, Reno, Nevada, and indirectly acquire additional shares of Nevada National Bank, Reno, Nevada. To Expand a Bank Holding Company Pursuant to Section 4(c)(8) of the Bank Holding Company Act of 1956 Worcester Bancorp, Inc., Worcester, Massachusetts, for approval to engage de novo in the activity of providing management consulting advice to nonaffiliated savings banks, through a subsidiary, Empire Group, Inc., Worcester, Massachusetts.

9 II.2, 1976 No APPLICATIONS RECEIVED-Continued Bancshares of North Carolina, Inc., Raleigh, North Carolina, notification of intent to engage in de novo activities (plan administration services for qualified corporate defined benefit and defined contribution plans, plan design assistance, employee participant benefit communication services, and plan allocation) at 3509 Haworth Drive and Branch Banking and Trust Building, Raleigh, North Carolina. (8/4/76) 3J Marshall & Ilsley Corporation, Milwaukee, Wisconsin, notification of intent to engage in de novo activities (performing or carrying on any one or more of the functions or activities that may be performed or carried on by a trust company including activities of a fiduciary, agency, or custodian nature and acting as investment or financial advisor in the manner authorized by State law without power to accept demand deposits or make commercial loans) at 5125 North 16th Street, Phoenix, Arizona, through its subsidiary, The Marshall & Ilsley Trust Company of Arizona. (7/30/76) 3/ Mercantile Texas Corporation, Dallas, Texas, for approval to acquire Financial Protection Insurance Company of Texas, Houston, Texas; with offices located in Austin, Texas; San Antonio, Texas; Corpus Christi, Texas; New Braunfels, Texas; and Houston, Texas (underwriting as a direct insurer and reinsurer, credit life and credit accident and health insurance directly related to extensions of credit by the holding company system) M & S BanCorp, Janesville, Wisconsin, notification of intent to engage in de novo activities (leasing of real property and acting as agent, broker, or adviser in leasing real property; provided, that at the inception of the initial lease the effect of the transaction will yield a return that will compensate the lessor for not less than its full investment in the property over the term of the lease) at 12 West Milwaukee Street, Janesville, Wisconsin, through its subsidiary, M & S Leasing Company, Inc. (7/21/76) 3/ [The above should have been included in the H.2 # 31 for the week ending July 31, 1976] 3/ 4(c)(8) and 4(c)(12) notifications processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

10 H.2, 1976No REPORTS RECEIVED Current Report Filed Pursuant to Section 13 of the Securities Exchange Act None. None. PETITIONS FOR RULEMAKING