h2_19720617.pdf

ANNOUNCEMENT BY

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Applications and Reports Received or Acted on H.2 1972 No. 25 During the Week Ending June 17, 1972

District Date

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

Received 6 Commerce Union Bank, Nashville, Tennessee 6/12/72

(May 1972)

* * * * *

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 Smith Trust and Savings Bank, Morrison, Illinois,

11 Seguin State Bank & Trust Company, Seguin, Texas.

Approved 7 Smith Trust and Savings Bank, Morrison, Illinois.

11 Seguin State Bank & Trust Company, Seguin, Texas.

* * * * *

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

Received Depositors Trust Company, Augusta, Maine. Branch

to be established at the Airport Mall Shopping Center, 305 Kennedy Drive, Waterville.

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

H. 2 1972 No. 25

- 2 -

Received Cont'd. The Barter Bank & Trust Company, Canton, Ohio.

Branch to be established at 780 West State Street, Stark County.

The Minerva Banking Company, Minerva, Ohio. Branch to be established at 130 Union Avenue, S. E., New Franklin, Stark County.

The Bank of Virginia-Central, Richmond, Virginia. Branch to be established at 6301 West Board Street, Henrico County.

First Michigan Bank and Trust Company, Zeeland, Michigan. Branch to be established at 1136 Ottawa Beach Road, Park Township, Ottawa County.

Approved ^Depositors Trust Company, Augusta, Maine. Branch

to be established at Augusta State Hospital, Augusta.

*Morgan Guaranty Trust Company of New York, New York, New York. Limited Purpose facility to be established at 39 Broadway, New York.

*The Barter Bank & Trust Company, Canton, Ohio. Branch to be established at 780 West State Street, Alliance Stark County.

*The Peoples Bank, Beaufort, South Carolina. Branch to be established at the U. S. Naval Hospital, Beaufort,

*First Manassas Bank and Trust Company, Manassas, Virginia. Branch to be established at 2110 Davis Ford Road, Woodbridge, Prince William County.

Citizens Trust Company, Atlanta, Georgia. Branch to be established at 3610 Gordon Road, S. W., Atlanta.

^Mutual Trust and Deposit Company, New Albany; Indiana. Branch to be established at 2006 Grantline Road, New Albany.

* Application processed by the Reserve Bank on behalf of the Board of Covermrs under delegated authority.


Denied by State Huron County Bank, Harbor Beach, Michigan.

Branch to be established at 8052 Third Street, Village of Forestville, Sanilac County.

* * * * *

To Carry Reduced Reserves Pursuant to Section 19 of the Federal Reserve Act

Received Security National Bank, Hempstead, New York.

* * * * *

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

Received Bankers Trust Company, New York, New York. Branch to be established in Tokyo, Japan.

Texas Commerce Bank, N. A., Houston, Texas. Branch to be established in London, England.

Approved The First National Bank of Chicago, Chicago, Illinois.

Branch to be established in Rome, Italy.

* * * * *

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

Approved The Chase Manhattan Bank, N. A., New York, New York. Additional branch to be established in Virgin Islands, to be located in St. Croix.


H.2 1972 No. 25

-4-

Approved Cont1d. First National City Bank, New York, New York, Additional branches to be established in the following locations: A. Hong Kong

B. Guam

* * * * *

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

Approved 2 Chemical Bank, New York, New York to organize a

corporation to be known as Chemical Bank International of San Francisco, San Francisco, California,

* * * * *


-5-H. 2 1972 No. 25

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

Received 10 Farmers Enterprises Inc., La Crosse, Kansas, for

prior approval to acquire 81 per cent of the voting shares of The Farmers State Bank, Albert,

, Kansas, Albert, Kansas.

Approved 1 ^^Massachusetts Bankshares, Inc., Hingham, 6-16-72

Massachusetts, for prior approval to acquire at least 80 per cent of the voting shares of Lincoln Trust Company, Hingham, Massachusetts.

6 The Royal Trust Company, Montreal, Quebec, Canada, for prior approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of the successor by merger to Inter National Bank of Miami, Miami, Florida.

7 Kewanee Investing Company, Kewanee, Illinois, for prior approval to acquire 60.04 per cent of the voting shares of Kewanee National Bank, Kewanee, Illinois.

9 Carlton Agency, Inc., Carlton, Minnesota, for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Carlton National Bank, Carlton, Minnesota.

Withdrawn 9 On H.2 No. 16, the Board reported receipt of an

application from Voyageur Bancshares, Inc., Montgomery, Minnesota, for prior approval to acquire 97.9 per cent of the voting shares of Citizens State Bank, Montgomery, Minnesota. In a letter dated June 7, 1972, Applicant requested that the application be withdrawn.

* * * * *

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


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

Received Shorebank Inc., Quincy, Massachusetts, for prior approval to acquire at least 80 per cent of the voting shares of The Mechanics National Bank of Worchester, Worchester, Massachusetts (through acquisition of The Mechanics Bancorp, Inc., Worcester, Massachusetts).

Shorebank Inc., Quincy, Massachusetts, for prior approval to acquire at least 80 per cent of the voting shares of First Agricultural National Bank of Berkshire County, Pittsfield, Massachusetts.

First at Orlando Corporation, Orlando, Florida, for prior approval to acquire at least 90 per cent of the voting shares of The City Bank and Trust Company of St. Petersburg, St. Petersburg, Florida.

First at Orlando Corporation, Orlando, Florida, for prior approval to acquire at least 90 per cent of the voting shares of The Suncoast City Bank of St. Petersburg, St. Petersburg, Florida.

The Frost National Bank of San Antonio and Frost Realty Company, both in San Antonio, Texas, for prior approval to acquire 3,437 of the voting shares of Texas State Bank, San Antonio, Texas.

Approved Atlantic Bancorporation, Jacksonville, Florida,

for prior approval to acquire not less than 70 per cent of the voting shares of University Atlantic Bank, Jacksonville, Florida, a proposed new bank.

Barnett Banks of Florida, Inc., Jacksonville, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Barnett Bank of North Jacksonville, Jacksonville, Florida, a proposed new bank.


Approved Continued Exchange Bancorporation, Inc., Tampa, Florida, for prior approval to acquire 80 per cent or more of the voting shares of Citizens Bank of Clermont, Clermont, Florida.

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 88.5 per cent or more nf the voting shares of Camanche State Bank, Camanche, Iowa.

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 51 per cent or more of the voting shares of The Citizens National Bank of Boone, Boone, Iowa.

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 81.7 per cent of the voting shares of The Clay County National Bank of Spencer, Spencer, Iowa.

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 80 per cent or more of the voting shares of First Federal State Bank, Des Moines, Iowa,

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 100 per cent (less directors' qualifying shares) of Jasper County Savings Bank, Newton, Iowa.

Hawkeye Bancorporation, Des Moines, Iowa, for prior approval to acquire 88.5 per cent or more of the voting shares of State Bank and Trust, Council Bluffs, Iowa.

The Jacobus Company and Inland Financial Corporation both of Milwaukee, Wisconsin, for prior approval to acquire 56.3 per cent or more of the voting shares of Heritage Bank of Milwaukee, Milwaukee, Wisconsin.


H.2 1972 No. 25

Approved Continued 8 **Manchester Financial Corp., St. Louis, Missouri, 6-12-72

for prior approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of The National Bank of Affton, Affton, Missouri, a proposed new bank.

10 United Banks of Colorado, Inc., Denver, Colorado, for prior approval to acquire 80 per cent or more of the voting shares of The Montrose National Bank, Montrose, Colorado.

11 Texas Commerce Bancshares, Inc., Houston, Texas, reconsideration of an Order dated April 11, 1972, which denied an application for prior approval of the acquisition of American National Bank of Beaumont, Beaumont, Texas.

Order Vacated 11 Texas Commerce Bancshares, Inc., Houston, Texas,

the Board's Order of April 11, 1972, which granted to Applicant approval to acquire 37 per cent of the voting shares of Beaumont State Bank, Beaumont, Texas.

Denied 7 Hawkeye Bancorporation, Des Moines, Iowa, for

prior approval to acquire 100 per cent (less directorsf qualifying shares) of the voting shares of Kellogg Savings Bank, Kellogg, Iowa.

* * * * *

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

Received 5 Bancshares of North Carolina, Inc., Jacksonville,

North Carolina, for prior approval to organize a new subsidiary corporation, BNC Life Insurance Company, Jacksonville, North Carolina.



H. 2 1972 No. 25

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Received Continued **The Citizens and Southern Corporation, Charleston, 6-12-72

South Carolina, notification of intent to engage in a de novo activity (the repair, erection, sale or ownership of housing projects under one or more Federal Housing programs) in Greenville, South Carolina, through its present subsidiary,

' The Citizens and Southern Housing Corporation, Charleston, South Carolina.

Virginia Commonwealth Bankshares, Inc., Richmond, Virginia, for prior approval to acquire the shares of Hanover Mortgage Corporation, Richmond, Virginia.

Virginia Commonwealth Bankshares, Inc., Richmond, Virginia, for prior approval to acquire the shares of Richmond Finance Corporation, Richmond, Virginia.

**Affiliated Bank Corporation, Madison, Wisconsin, 6-14-72 notification of intent to engage in a de novo activity (the purchase and leasing of industrial and commercial equipment, boats, vehicles and other items of personal property of all kinds), through a subsidiary known as Affiliated Leasing Corporation, Madison, Wisconsin.

10 Farmers Enterprises Inc., La Crosse, Kansas, for prior approval to engage in a general insurance agency business.

12 **BankAmerica Corporation, San Francisco, California, 6- 6-72 notification of intent to engage in a de novo activity (acting as an investment and financial adviser, including serving as an investment adviser as defined in section 2(a)(20) of the Investment Company Act of 1940) in San Francisco and Los Angeles, California, through a subsidiary, the name of which is yet to be determined.



H.2 1972 No. 25 -10-

Approved Carlton Agency, Inc., Carlton, Minnesota, for prior approval to acquire certain assets of First National Bank Insurance Agency, Carlton, Minnesota.

Delayed **American National Holding Company, Kalamazoo, 6-15-72

Michigan, notification of intent to engage in de novo activities (making, warehousing, selling and servicing real estate mortgages) through a subsidiary known as American National Mortgage Company, Kalamazoo, Michigan. Such activities will be conducted at offices in the following locations: Kalamazoo, Portage, Plainwell, Allegan, Lawrence, Athens, Mendon, Richland, Three Rivers and Niles, all in Michigan. This notification has been delayed until such time as a letter from Applicant is received informing the Reserve Bank that the notification has been modified to the extent that the proposed activities will only be conducted at the specified offices of The American National Bank and Trust Company of Michigan.

Permitted **R.I.H.T. Corporation, Providence, Rhode Island, 6-16-72

to engage in a de novo activity (making or acquiring, for its own account, or the account of others, loans and other extensions or credit or other activities commonly engaged in by mortgage banking companies) through a subsidiary known as The Washington Row Company, Providence, Rhode Island.

Reactivated 7 **Bankmanagers Corporation, Milwaukee, Wisconsin, 6-16-72

notification of intent to engage in a de novo activity (the repair, erection and sale or ownership of housing or other projects under one or more of the Federal Housing Administration programs) through a subsidiary known as Equity Management Associates, Inc., Milwaukee, Wisconsin.



H.2 1972 No, 25 -11-

Withdrawn 7 **0n H.2 No. 49, 1971, the Board reported receipt 6-15-72

of a notification from American Fletcher Corporation, Indianapolis, Indiana, of intent to engage in de novo activities (rendering financial advice to banks and other financial institutions in the development and servicing of loans and related activities and to render financial advice as to the management and administration of such banking and financial institutions) through a subsidiary to be known as Consumer Services Corporation, Indianapolis, Indiana. In a letter dated June 13, 1972, Applicant requested that the notification be withdrawn.

9 On H.2 No. 16, the Board reported receipt of an application from Voyageur Bancshares, Inc., Montgomery, Minnesota, for prior approval to acquire the assets of Citizens State Insurance Agency, Montgomery, Minnesota. In a letter dated June 7, 1972, Applicant requested that the application be withdrawn.

12 **0n H.2 No. 6, the Board reported receipt of a 6- 9-72 notification from First Security Corporation, Salt Lake City, Utah and U. S. Bancorporation, Portland, Oregon, to engage in a de novo activity (providing bookkeeping or data processing services for the internal operations of the holding companies and their subsidiaries, and storing and processing other bank financial or related economic data * such as performing payroll, accounts receivable or payable, or billing services for customers and incidental activities necessary thereto) through a subsidiary known as First Security Datacorp, Salt Lake City, Utah. In a letter dated June 9, 1972, Applicants requested that the notification be withdrawn.

* * * * *



H.2 1972 No. 25

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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 **The Sperry and Hutchinson Company, New York, New 6-12-72

York, notification of intent to acquire, through its subsidiary Bayly, Martin & Fay, Inc;, Los Angeles, California, Harry Potash Associates, Inc., New York, New York.

**Warner Communications Inc., New York, New York, 6-15-72 notification of intent to acquire Asylun Record Corporation, Los Angeles, California.

**Marcor Inc., Chicago, Illinois, notification of 6-13-72 intent to acquire Constructors Concrete Product Company, Houston, Texas; Certified Concrete Company, Alvin, Texas; and Conroe Pipe and Supply Co., Inc., Conroe, Texas (which are engaged in the production of concrete pipe), through a subsidiary known as Hydro Conduit Corporation, Orange, California.



h2_19720617.pdf

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