ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (H.?, 1983 No. 37) Actions of the Board; A p p l i c a t i o n s and Reports Received During the Week Ending September 17, 1983 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Statement by Chairman Paul A. Volcker before the Senate Banking Committee t o review a wide range of issues a f f e c t i n g the e v o l u t i o n of banks, banki n g , and the f i n a n c i a l services i n d u s t r y . Regulation J , c o l l e c t i o n of checks and other items and w i r e t r a n s f e r of funds; midweek closings and nonstandard h o l i d a y s ; the Board requested comment by October 14, 1983. (Docket No. R-0481) Roberts, Steven M., appointed Assistant t o Chairman Volcker e f f e c t i v e on September 30; he succeeds Neal M. Soss who i s r e t u r n i n g t o the Federal Reserve Bank of New York, E t t i n , Edward C . , t r a n s f e r t o the p o s i t i o n of Deputy D i r e c t o r , D i v i s i o n of Research and S t a t i s t i c s from the p o s i t i o n of Deputy S t a f f D i r e c t o r , O f f i c e of S t a f f D i r e c t o r f o r Monetary and Financial P o l i c y . P r e l l , Michael J . , D i v i s i o n of Research and S t a t i s t i c s , promotion t o Deputy D i r e c t o r . Kohn, Donald L . , promotion t o Deputy S t a f f D i r e c t o r f o r Monetary and Financial Policy from Associate Director i n the D i v i s i o n of Research and S t a t i s t i c s . New York 2/ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis United Counties Bancorporation, Cranford, New Jersey, extension of time t o October 15, 1983, w i t h i n which t o become a bank holding company through the a c q u i s i t i o n of United Counties Trust Company, E l i z a b e t h , New Jersey, V A p p l i c a t i o n processed on behalf of the Board of Governors under delegated a u t h o r i t y . H.P, 1^83 No. 37 OF THE BOARD-Continued Y(: rr Bank of New York, New York, New York, (1) extension of time to September 15, 1984, w i t h i n which t o e s t a b l i s h a branch o f f i c e on the north side of Montauk Highway, S a y v i l l e Shopping Center, Town of I s l i p , Nf;w York, and (2) extension of time t o September 25, 1984, w i t h i n which to e s t a b l i s h a b?anch in the immediate v i c i n i t y of U.S. Route 20 ana R3;p Poad, Town o f Guilder!and, New York. 1/ t i ^ s t National London Bancshares Corp., London, Kentucky, extension of time t o December 24, 1983, w i t h i n which t o acquire F i r s t National Bank i n London, london, Kentucky. 1/ Concord National I n c . , Concord, North C a r o l i n a , extension of time to October 12, 1983, w i t h i n which to become a Dank holding company through the a c q u i s i t i o n of The Concord National Bank, Concord, North C a r o l i n a . 1/ Raleigh Bankshares, I n c . , Beckley, West V i r g i n i a , extension of time to January 1, 1984, w i t h i n which to become a bank holding company through the a c q u i s i t i o n of Bank o f Raleigh, Beckley, West Virginia. ] / kichmond Peoples Bank o f D a n v i l l e , D a n v i l l e , V i r g i n i a , an investment i n bank premises. V PicMfond V i r g i n i a National Bank, N o r f o l k , V i r g i n i a , proposed merger w i t h f i r s t § Merchants National Bank, Richmond, V i r g i n i a ; report t o the Comptroller of the Currency on competitive f a c t o r s . \ j Atlanta Southern National Banks, I n c . , Fort Walton Beach, F l o r i d a , extension o f time t o December 13, 1983, w i t h i n which t o become a bank holding company through the a c q u i s i t i o n o f F i r s t National Bank o f Okaloosa County, Fort Walton Beach, F l o r i d a . 2 / Atlanta Gulfcoast Bancshares, I n c . , West Palmetto, F l o r i d a , extension of time to December 11, 1983, w i t h i n which t o become a bank holding company through a c q u i s i t i o n of the County Bank, Palmetto, F l o r i d a . 1/ T7 AppIication processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ^ 2/ - 3 ^ - ^ BOARD-Continued Continental Pank - Hampton, Milwaukee, Wisconsin, proposal t o merge w i t h Continental Pank MidA r e r l c a , Milwaukee, Wisconsin, under the charter of Continental Bank - Hampton and t i t l e of Continental Hank and Trust Company; report t o the Federal Deposit Insurance Corporation on competitive f a c t o r s . 2 / i r :t at c w Mtfcr Pank of Kama, Maroa, I l l i n o i s , proposal t o merge w i t h Second State Bank o f Maroa, Maroa, I l l i n o i s , wn*if»r the charter of Second State Pank of Maroa anc t of Pank of Maroa; report t o the Federal I * * *rance Corporation on competitive f a c t o r s , 1/ Mechan*r^urg C i t i z e n s Bank, Mechanicsburg, I l l i n o i s , proposal t o merge w i t h MCB Bank, Mechanicsburg, H l # n u * s , under the c h a r t e r of MCP Bank and t i t l e of Kechan;csnurg C i t i z e n s Bank; report to the Federal Deposit Insurance Corporation on competitive factors. 2/ Mattoon Bank. Mattoon, I l l i n o i s , proposal t o merge w i t h PepubHc Bank o f Mattoon, Mattoon, I l l i n o i s , under the charter o f Republic Bank of Mattoon and t i t l e o f Mattoon Bank; report t o the Federal Deposit Insurance Corporation on competitive f a c t o r s . 2 / PSwr f.rovA Kank, R o l l i n g Meadows, I l l i n o i s , proposal t o *erge w i t h PGR State Bank, R o l l i n g Meadows, I l l i n o i s , under the c h a r t e r and t i t l e of PGB Bank; report t r the Federal Deposit Insurance Corporation on e w j e H t i v e f a c t o r s . 2 / ? a;r K IT Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ; P f c o r p , i n c . , B e l o i t , Wisconsin, extension of n r y t r October 15, 19#3, w i t h i n which to become a han*. m I c i r g company through the a c q u i s i t i o n of K t ^orcent of tne v o t i n g shares of the successor by f ^ e r w r t r Ihe F i r s t National Bank and Trust Company of ; e M x * ^ e l o i t , Wisconsin. 2 / t f M r f * Pancorp, I n c . , Pi f f o r d , I l l i n o i s , extension of to ember IQ. I9P3, w i t h i n which t o become a bank i*me holding company through the a c q u i s i t i o n of 80 t e r r e n t nr more of the v o t i n g shares of G i f f o r d State Bank, ( i f f o r d , I l l i n o i s . 1/ i f ^ f too processes on hehalf of the Board of Governors under ^elegatMt a u t h o r i t y . 37 -a - OF THE BOARP^Continued ^ ; r y M n o Mancshare<, I n c . , M a r s h f i e l d , Wisconsin, f , t e n s i o n c f time to December 2A, 1983, w i t h i n to t'tiome a hank holding company through + a c q u i s i t i o n of 150 percent of "he v o l i n g shares of the successor by merger :o Citizens \ "inK ano Trurserve Act and Sections 4 ( c ) ( 9 ) , 4 (c) (13) and 4(c) (14) t f The Hank fx I d i n ^ Company Act of 1956, as amended New Yorx Citibank Overseas Investment Corporation, Wilmington, Delaware : requests consent t o continue t o hole 100 percent of the shares of Assurantiemaatschappij Financia N.V., Antwerp, Belgium while Finance (1) expands i t s c r e d i t - r e l a t e d insurance underwriting a c t i v i t i e s t o include the underwriting of c r e d i t l i f e , c r e d i t accident ano h e a l t h , and savings comp l e t i o n insurance, without regard t o whether such i ^ s t r a r c e i s r e l a t e d t o extensions of c r e d i t by, i r savings plans o f f e r e d by, the C i t i c o r p organization in the European Economic Community, and (2) continues to underwrite home loan l i f e insurance and endowment l i f e insurance r e l a t e d t o the mortgage lending a c t i v i t i e s of Finance and i t s a f f i l i a t e s in Belgium. Chn ri.e Cont i n r n f a l I l l i n o i s National Rank and Trust Company of c h H j y ) , Chicago, I l l i n o i s : requests consent to make an a d d i t i o n a l investment i n Continental I l l i n o i s Bank (Canada). * * * * * To Form a Bank Holding Company Pursuant to Section 3 ( a ) ( 1 ) of the Hank Holding Company Act of 1956 Philadelphia P.M.J. Financial Corp., Bordentown, New Jersey, tor approval t o acquire 100 percent of the voting shares of The Bank of Kid-Jersey, Bordentown Township, New Jersey. 2/ Cleveland F. Cleveland NAPANCO, I n c . , Lancaster, Kentucky, f o r approval to acquire at l e a s t 80 percent of the voting shares of The National Bank of Lancaster, Lancaster, Kentucky. 2/ 2/ Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Deposit Corporation, F1emingshurg, Kentucky, f o r approval t o acquire at least 92 percent of the voting shares of Farmers-Deposit Bank, F1emingsburg, Kentucky. 2 / A p p l i c a t i o n subject t o Community Peinvestment A c t . The Community A f f a i r s O f f i c e r of the a p p l i c a b l e Reserve Bank may be contacted as t o the length nf the comment p e r i o d . :' - i y - i i< v< RFCFIVEn - Continued B e r l i n Bancshares, I n c . , O h e r l i n , Ohio, f o r approval t o acquire 100 percent of the v o t i n g shares of The B e r l i n Savings Bank Company, O b e r l i n , Ohio. JV Col H e r Hank Corporation, Naples, F l o r i d a , f o r approval to acquire at l e a s t 80 percent or more of the v o t i n g shares of C o l l i e r Bank, Naples, F l o r i d a . 2 / /' ? ; r ' ! d * f i r s t of Homestead, approval to acquire shares of Ihe F i r s t Homestead, F l o r i d a . : I n c . , Homestead, F l o r i d a , for at l e a s t 80 percent of the v o t i n g National Bank of Homestead, ?/ State Bancorporation, I n c . , Kenosha, Wisconsin, for approval to acquire 80 percent or more of the vet inc shares of American State Bank, Kenosha, Wisconsin. 2 / n Bancorp, I n c . , Chicago, I l l i n o i s , for approval i n a c w f i m 5 1 . p e r c e n t of the voting shares of F i r s t ' t - i i . r i ? v Par^ of Clendale Heights, Glendale Heights, X1inois. // M r s t National Bancorp, I n c . , Monroe, Wisconsin, f o r approval to acquire 100 percent of the voting shares J e s s d i r e c t o r s ' q u a l i f y i n g shares) of the successor r ) e e r i e r to The F i r s t National Hank of Monroe, t'nnroe, k i s c o n s i n . 2 / ;:anc . ! 'N* M r s t f a t if r a l ^ jnk cf B a y f i e l d , + t f TuCky. ?/ ' ' * ^ \ , f . !" . * * ?LL.M re af least rt*s ^f 'Vrrh,in»< ^ *; , ' ** « f ^ .r . ' : r t. ; %uirr ^ Arkansas, for percent of the Farmer^ Hank, Dumas, I n c . , ^ l e a c a r t ^epe, N l ^ . x f i^O p e r c e n t Of H^asart r h e Ha' \ , Pleasant ^ , f'Mv -* & r,#n. vf ^ r ^ s , M c . * Cklahnra C i t y , Oklahoma, ' r To acquire dt least 95 percent of the . '?*'* of ^roek^nnu National Bank, Oklahoma ^ - y , t 1 ,.r*^a * ?/ ^ I n c . , Albuquerque, New Mexico, tr r ; r r v a l t o acquire at least 99 percent of the * * ~ s ^ a n s of Southwest National Corporation, ^ ^ v e n , . ; c , New Mexico and i n d i r e c t l y Southwest 7 c . , ( i l l i n y s , Montana, for ^ i r« ., 1 *r ac%.w; re percent of the voting **f, ? f re investment Act. The Community f'eserv^ Pank y re contacted t m rAnt period. I . 14R3 No. 37 -?0- ArPLlCAnory RFCFIVEH - Continued vi^as f i r s t T^xas HoMing Company, Winnsboro, Texas, for approval to acquire at least 80 percent of the voting shares of Winnshoro Bank and Trust, Winnsboro, Texas. 2/ f Frontier Bancshares, I n c . , Eagle Pass, Texas, f o r approval to acquire at least 80 percent of the voting shares of Frontier State Bank, Eagle Pass, Texas. TaUas LfU Corporation, Shreveport, Louisiana, f o r approval to acquire at least 80 percent of the v o t i n g shares of Louisiana Bank & Trust Company, Shreveport, Louisiana. 27 Dallas "ed r e n t e r Pancshares, I n c . , Houston, Texas, for approval t o acquire 100 percent of the voting shares of Medical T e r f e r Pant, Houston, Texas. 27 5a" "rfv ba^co, I n c . , Tacoma, Washington, for approval to acquire ino pert,pnt of fhe v o t i n g shares of The Union Bank, Taenia. Washington. ?/ * * * * * To Expand a Bank Homing rnmpany Pursuant t o Section 3 ( ? B a n k holding Company Act of 1956 ^ce^ph^a f u l t o n F m a r c W Corporation, Lancaster, Pennsylvania, tor to acquire 100 percent of the v o t i n g shares of The Farmers Trust Company of Lebanon, Lebanon, Pennsylvania. ZV ,cc F l a t Top Bankshares, I n c . , B l u e f i e l d , West V i r g i n i a , f o r approval to acquire up t o 100 percent of the v o t i n g shares of Peoples Bank of Bluewell, B l u e w e l l , West V i r g i n i a . ?/ Richmond One Valley Bancorp of West V i r g i n i a , Charleston, West V i r g i n i a , f o r approval t o acquire 100 percent of the v o t i n g shares of The Bank of S t . Albans, S t . Albans, West V i r g i n i a . 27 Atlanta SouthTrust Corporation, Birmingham, Alabama, f o r approval t o acquire at l e a s t 80 percent of the voting shares of The Leeth National Bank of Cullman, Cullman, Alabama. 1/ 2/ A p p l i c a t i o n subject t o Community Reinvestment A c t . The Community A f f a i r s O f f i c e r o f the a p p l i c a b l e Reserve Bank may be contacted as t o the length o f the comment p e r i o d . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2, 198? No. 37 -21 - APPLICATIONS RECEIVED - Continued Chicago Firstbank of I l l i n o i s Co., S p r i n g f i e l d , I l l i n o i s , f o r approval t o acquire 100 percent of the voting shares (less d i r e c t o r s 1 q u a l i f y i n g shares) of the successor by merger t o Land of Lincoln Bank, Springfield, I l l i n o i s . 2/ Chicago F & M Financial Services Corporation, Menomonee F a l l s , Wisconsin, f o r approval t o acquire 100 percent of the v o t i n g shares (less d i r e c t o r s ' q u a l i f y i n g shares) of the successor by merger t o State Bank of S I i n g e r , S l i n g e r , Wisconsin. 2J Chicago Marine Bancorp, I n c . , S p r i n g f i e l d , I l l i n o i s , f o r approval t o acquire 100 percent of the voting shares ( l e s s d i r e c t o r s ' q u a l i f y i n g shares) of the successor by merger t o American State bank of Rloomington, I l l i n o i s , Bloomington, I l l i n o i s . 2/ S t . Louis Southside Bancshares Corp., S t . Louis, M i s s o u r i , for approval t o acquire at l e a s t 80 percent of the outstanding v o t i n g shares of State Bank of De Soto, De Soto, M i s s o u r i . 2/ Dallas East-Tex Bancorp, I n c . , T r i n i t y , Texas, f o r approval t o acquire at least 80 percent of the v o t i n g shares of F i r s t National Bank of Cleveland, Cleveland, Texas, a proposed new bank. 2/ Dallas Texas Capital Bancshares, I n c . , Houston, Texas, f o r approval t o acquire at l e a s t 95.7 percent of the v o t i n g shares of F i r s t National Bank of Katy, Katy, Texas. 2/ * * * * * To Expand a Bank Holding Company Pursuant t o Section 4 ( c ) ( 8 ) o f the Bank Holding Company Act of 1956 New York 2? C i t i c o r p , New York, New York, requests permission to e s t a b l i s h two de novo o f f i c e s , C i t i c o r p Financial Services Corporation proposes t o engage i n the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, f o r consumer and other purposes; A p p l i c a t i o n subject t o Community Reinvestment Act. The Community A f f a i r s O f f i c e r of the a p p l i c a b l e Reserve Bank may be contacted as t o the length o f the comment p e r i o d . Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.p, u l N o . 37 -22APPLICATIONS RECEIVED - Continued the sale of c r e d i t r e l a t e d l i f e and accident and h e a l t h insurance by licensed agents or brokers, as r e q u i r e d ; the issuing o f t h r i f t c e r t i f i c a t e s and t h r i f t passbook c e r t i f i c a t e s ; the sale at r e t a i l of money o r d e r s , t r a v e l e r s checks, and consumer oriented f i n a n c i a l management courses; the s e r v i c i n g , f o r any person, of loans and other extensions of c r e d i t ; the making, a c q u i r i n g , and s e r v i c i n g , f o r i t s own account and f o r the account of o t h e r s , of.extensions of c r e d i t to i n d i v i d u a l s secured by l i e n s on r e s i d e n t i a l or n o n - r e s i d e n t i a l real e s t a t e ; and the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y r e l a t e d t o extensions of mortgage l oans); C i t i c o r p Mortgage Corporation proposes t o engage in the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, f o r consumer and other purposes; the sale o f c r e d i t r e l a t e d l i f e and accident and health insurance by licensed agents or brokers, as required; the sale o f consumer oriented f i n a n c i a l management courses; the s e r v i c i n g f o r any person, of loans and other extensions of c r e d i t ; the making, a c q u i r i n g , and s e r v i c i n g , f o r i t s own account and f o r the account of o t h e r s , of extensions of c r e d i t to i n d i v i d u a l s secured by l i e n s on r e s i d e n t i a l or n o n - r e s i d e n t i a l real e s t a t e ; and the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y r e l a t e d t o extensions of mortgage loans) at 2060 Richmond Road, Lexington, Kentucky and Plainview V i l l a g e Center, 9944 Linn S t a t i o n Roa.d, L o u i s v i l l e , Kentucky, through i t s s u b s i d i a r i e s , C i t i c o r p Financial Services Corporation and C i t i c o r p Mortgage Corporation (9/14/83) New York Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis C i t i c o r p , New York, New York, requests permission t o expand the service area of an e x i s t i n g o f f i c e and to r e l o c a t e t h a t o f f i c e engaging in the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, f o r consumer and other purposes; the extension of loans t o dealers for the f i n a n c i n g of inventory ( f l o o r planning) and working c a p i t a l purposes; the purchasing and s e r v i c i n g of c r e d i t r e l a t e d l i f e and a c c i - p.p, \0.?7 ~?3~ APPLICATIONS RECEIVED-Continued dent and health insurance by licensed agents or b r o k e r s , as r e q u i r e d ; the sale of c r e d i t r e l a t e d property and casualty insurance p r o t e c t i n g real and personal property subject t o a s e c u r i t y agreement w i t h CAC, and t o the extent permissible under a p p l i c a b l e State insurance laws and r e g u l a t i o n s ; the making o f loans t o i n d i v i d u a l s and businesses secured by a l i e n on mobile homes, modular u n i t s or r e l a t e d manufactured housing, together w i t h the real property t o which such housing i s or w i l l be permanently a f f i x e d * such property being used as s e c u r i t y f o r the loans; and the s e r v i c i n g , f o r any person, of loans and other extensions of c r e d i t ) from 6100 Channingway B l v d . , Suite 205, Columbus, Ohio t o 2550 Corporate Exchange D r i v e , Columbus, Ohio, the service area f o r the sale of c r e d i t r e l a t e d property and casualty insurance w i l l not be expanded, through i t s s u b s i d i a r y , C i t i c o r p Acceptance Company, I n c . (9/14/P3) Hew Vork Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis C i t i c o r p , New York, New York, requests permission to e s t a b l i s h two de novo o f f i c e s , C i t i c o r p F i nancial Services Corporation, engaging in the f o l l o w i n g a c t i v i t i e s (the making or acquiring o f loans and other extensions o f c r e d i t , secured or unsecured, f o r consumer and other purposes; the sale o f c r e d i t r e l a t e d l i f e and accident and health insurance by licensed agents or brokers, as r e q u i r e d ; the i s s u i n g of t h r i f t c e r t i f i c a t e s and t h r i f t passbook c e r t i f i c a t e s ; the sale at r e t a i l of money o r d e r s , t r a v e l e r s checks, and consumer o r i e n t e d f i n a n c i a l management courses; the s e r v i c i n g , f o r any person, o f loans and other extensions of c r e d i t ; the making, a c q u i r i n g and s e r v i c i n g , f o r i t s own account and f o r the account o f o t h e r s , o f extensions of c r e d i t t o i n d i v i d u a l s secured by l i e n s on r e s i d e n t i a l or n o n - r e s i d e n t i a l real e s t a t e ; and the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y r e l a t e d to extensions of mortgage l o a n s ) ; C i t i c o r p Homeowners, I n c . proposes t o engage i n the f o l l o w i n g a c t i v i t i e s (the making or acquiring o f loans and other extensions of c r e d i t , secured or unsecured, f o r consumer and other purposes; the Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis _pa_ APPLICATIONS RECEIVED-Continued sale of c r e d i t related l i f e and accident and neaith insurance by licensed agents or brokers, as required; the sale of consumer o r i e n t e d f i nancial management courses; the s e r v i c i n g , f o r any person, of loans and other extensions of c r e d i t ; the making, acquiring, and s e r v i c i n g , for i t s own account and for the account of o t h e r s , of extensions of credit to i n d i v i d u a l s secured by liens on residential or non-residential real e s t a t e ; ano the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y r e l a t e d to extensions f f mortgage loans) at 206? N. G a l l a t i n Road, Hadison, Tennessee; 28 White Bridge Road, Nashv i l l e # Tennessee; 1213 Park, Place Center, Memphis, Tennessee and the Plaza at Downtown West, 8078 Kingston Pike, Knoxville, Tennessee, through i t s subsidiaries, Citicorp Homeowners, I n c . and C i t i c o r p Financial Services Corporation (9/14/83) C i t i c o r p , New York, New York, requests permission t o e s t a b l i s h a de novo o f f i c e engaging in the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, for consumer and other purposes; the extension of loans t o dealers f o r the finaneing of inventory ( f l o o r planning) and working capital purposes; the purchasing and s e r v i c i n g f o r i t s own account of sales finance c o n t r a c t s ; the sale for credit related l i f e and accident and health insurance by licensed agents or brokers, as required; the making of loans t o i n d i v i d u a l s and businesses secured by a l i e n on mobile homes, modular u n i t s or r e l a t e d manufactured housing, together with the real property to which such housing is or w i l l be permanently a f f i x e d , such property being used as security f o r the loans; and the servicing, for any person, of loans and other extensions of c r e d i t ) at Two Green Tree Centre, Suite 321, Marl ton, New Jersey, through i t s subsidiary, Citicorp Acceptance Company, Inc. (9/13/83) H.2, I4fn hu. 37 - - APPLICATIONS RECEIVEO-Continued New York C i t i c o r p , Mew York, New York, requests permission to establish de novo offices engaging in the f o l l o w i n g a c t i v i t i e s (the making or acquiring of loans and other extensions of c r e d i t , secured or unsecured, for consumer and other purposes; the sale of credit related l i f e and accident and health insurance by licensed agents or brokers, as required; the sale of consumer oriented f i nancial management courses; the servicing, for any person, of loans and other extensions of c r e d i t ; the making, acquiring, and servicing, for i t s own account and for the account of others, of extensions of credit to individuals secured by liens on residential or non-residential real e s t a t e ; and the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y related to extensions of mortgage loans) at 40 Speen Street, Framingham, Massachusetts, through i t s subs i d i a r i e s , Citicorp Homeowners, Inc. and Citicorp Person-to-Person Financial Center, Inc. (9/13/83) New York C i t i c o r p , New York, New York, requests permission to expand the service areas of existing o f f i c e s engaging in the following a c t i v i t i e s (the making or a c q u i r i n g of loans and other extensions of c r e d i t , secured or unsecured, f o r consumer and other persons; the sale of credit related l i f e and accident and health insurance by licensed agents or brokers, as required; the sale of consumer oriented financial management courses; the servicing, for any person, of loans and other extensions o f c r e d i t ; the making, acquiring and servicing, for i t s own account and f o r the account of others, of extensions of credit to individuals secured by liens on residential or non-residential real estate; and the sale of mortgage l i f e and mortgage d i s a b i l i t y insurance d i r e c t l y related to extensions of mortgage loans) at 3621 Veterans Memorial Boulevard, Metairie, Louisiana, through i t s subsidiaries, Citicorp Person-to-Person Financial Center, I n c . and Citicorp Homeowers, I n c . (9/13/83) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ee H.P3, 19X3 No. 37 -26APPLICATIONS RECEIVED-Continued New York Manufacturers Hanover Corporation, New York, New York, requests permission t o e s t a b l i s h a de novo o f f i c e engaging in the f o l l o w i n g a c t i v i t i e s (consumer finance i n c l u d i n g , hut not l i m i t e d t o , the extension of d i r e c t loans, secured or unsecured, t o consumers and the purchase of sales finance c o n t r a c t s ; s e r v i c ing such loans and other extensions of c r e d i t ; and acting as agent or broker f o r the sale of s i n g l e and j o i n t c r e d i t l i f e insurance and decreasing or level term ( i n the case of s i n g l e payment loans) c r e d i t l i f e insurance d i r e c t l y r e l a t e d t o extensions of c r e d i t made or acquired by Manufacturers Hanover Financial Services of Minnesota, I n c . ) at 3600 West 80th S t r e e t , Bloomington, Minnesota, through i t s s u b s i d i a r y , Manufacturers Hanover Financial Services of Minnesota, I n c . (9/14/83) New York National Westminster Bank p i c , London, England and NatWest Holdings I n c . , New York, New York, request permission t o e s t a b l i s h a de novo o f f i c e engaging i n the f o l l o w i n g a c t i v i t i e s ( s e r v i c i n g of the f a c t o r i n g needs of major users of f i n a n c i a l s e r v i c e s ; the p r i n c i p a l functions of the Los Angeles o f f i c e w i l l be t o market to p o t e n t i a l c l i e n t s , perform c r e d i t checking services f o r both east coast and west coast c l i e n t e l e and a s s i s t i n the debt c o l l e c t i o n process from l o c a l customers) in Los Angeles, C a l i f o r n i a , through t h e i r s u b s i d i a r y , NatWest Commercial Services, I n c . (9/13/83) Philadelphia FB&T Corporation, Hanover, Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage i n de novo a c t i v i t i e s ( i n consumer finance a c t i v i t i e s , i n c l u d i n g the extension o f d i r e c t loans t o consumers, the discount of r e t a i l and i n s t a l l m e n t notes or c o n t r a c t s , the extension of d i r e c t loans t o dealers f o r the f i n a n c i n g of inventory ( f l o o r p l a n n i n g ) ; and acting as agent f o r the sale of l i f e , accident and health and physical damage Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2, 1 ^ 3 N o . 37 -27APPLICATIONS RECEIVED-Continued insurance d i r e c t l y r e l a t e d t o i t s extensions of c r e d i t ) at 5 North Hanover S t r e e t , C a r l i s l e , Pennsylvania, through i t s s u b s i d i a r y , Hanover Consumer Discount Company (9/16/83) Philadelphia Northeastern Bancorp, I n c . , Scranton, Pennsylvania, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s ( i n consumer and secondary mortgage finance a c t i v i t i e s , i n c l u d i n g the extension of d i r e c t loans t o consumers, the discount of r e t a i l and i n s t a l l m e n t notes or c o n t r a c t s , the purchase of r e c r e a t i o n a l l o t notes and working c a p i t a l purposes) these a c t i v i t i e s would be conducted i n the Commonweatlh of Pennsylvania, through i t s s u b s i d i a r y , Regency Consumer Discount Company, I n c . (9/14/83) Cleveland Mellon National Corporation, P i t t s b u r g h , Pennsylvania, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s (permissible data processing a c t i v i t i e s , i n c l u d i n g providing t o others data processing and transmission s e r v i c e s , f a c i l i t i e s , data bases or access t o such s e r v i c e s , f a c i l i t i e s , or data bases by any t e c h n o l o g i c a l l y f e a s i b l e means i n accordance with Section 225.4(a)(8) of Regulation Y) at 20 Wells Avenue, Newton, Massachusetts and 5th F l o o r , 434 Broadway, New York, New York, through i t s subs i d i a r y , Mellon Financial Services Corporation #1 (9/15/83) Cleveland PNC Financial Corp, P i t t s b u r g h , Pennsylvania, n o t i f i c a t i o n of i n t e n t to engage in de novo a c t i v i t i e s (making or acquiring and s e r v i c i n g f o r i t s own account and/or the account of o t h e r s , loans and other extensions of c r e d i t ) at 9001 Edmonston Road, Greenbelt, Maryland, through i t s s u b s i d i a r y , The Kissel 1 Company (9/8/83) Cleveland PNC Financial Corp, P i t t s b u r g h , Pennsylvania, n o t i f i c a t i o n o f i n t e n t t o engage i n de novo a c t i v i t i e s (making or acquiring and s e r v i c i n g for i t s own account and/or the account o f o t h e r s , loans and other extensions of c r e d i t ) at Montgomery Executive Center - Third F l o o r , 6 Montgomery V i l l a g e Avenue, Gaithesburg, Maryland, through i t s s u b s i d i a r y , The Kissel 1 Company (9/8/83) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis — H.2, 1983No. 37 -28APPLICATIONS RECEIVED-Continued Richmond Central F i d e l i t y Banks, I n c . * Richmond, V i r g i n i a , n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s (the sale as agent or broker w i t h respect t o the f o l l o w i n g types of insurance rel a t e d t o , or a r i s i n g out o f , loans made or c r e d i t t r a n s a c t i o n s i n v o l v i n g c r e d i t granting s u b s i d i a r i e s of Central F i d e l i t y Banks, I n c . ; c r e d i t l i f e insurance, c r e d i t d i s a b i l i t y insurance and c r e d i t accident and health insurance; physical damage insurance on mobile homes, motor homes or s i m i l a r v e h i c l e s ; vendors s i n g l e i n t e r e s t physical damage insurance on motor v e h i c l e s , boats, t r a i l e r s and other kinds o f personal property or attachments used i n connection t h e r e w i t h ; and mortgage redemption insurance) in Fredericksburg, V i r g i n i a , through i t s s u b s i d i a r y , Central F i d e l i t y Insurance Agency, Inc. (9/12/83) Richmond Union Trust Bancorp, B al ti more, Maryland, n o t i f i c a t i o n of i n t e n t t o engage i n de novo a c t i v i t i e s (making i n s t a l l m e n t loans toHTndividuals f o r personal , f a m i l y or household purposes; purchasing sales finance contracts executed in connection w i t h the sale of personal, f a m i l y or household goods or s e r v i c e s ; a c t i n g as agent i n the sale of c r e d i t l i f e and c r e d i t accident and health insurance d i r e c t l y r e l a t e d t o i t s extensions of c r e d i t ; and making mortgage loans secured i n whole or i n part by mortgages or other l i e n s on real e s t a t e ) at 2720 Riverside Drive, Macon, Georgia, through i t s s u b s i d i a r y , Landmark Financial Services o f Georgia, I n c . (9/14/83) Onaco C i t i z e n s Bancorporation, Sheboygan, Wisconsin, not i f i c a t i o n o f i n t e n t to engage i n de novo a c t i v i t i e s ( i n leasing personal property or a c t i n g as agent, broker or advisor i n leasing such property) at 270 E. K i l b o u r n , Milwaukee, Wisconsin, the geographic area t o be served i s Wisconin and upper Michigan, through i t s s u b s i d i a r y , C i t i z e n s Equipment F i nancing Corporation ( 9 / 1 / 8 3 ) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis - 2Q APPLICATIONS RECEIVFD-Cont i nued Chicago Citizens Bancorporation, Sheboygan, Wisconsin, n o t i f i c a t i o n of intent to engage i n de novo a c t i v i t i e s f i n providing management consul t i n g , data processing and data transmission services) at 270 E. Kilbourn, Milwaukee, Wisconsin, the geographic area to be served is Wisconsin and upper Michigan, through i t s s u b s i d i a r y , Citizens Management Services Corporation (9/1/83) Chicago Citizens Bancorporation, Sheboygan, Wisconsin, n o t i f i c a t i o n of intent to engage i n de novo a c t i v i t i e s ( i n making or a c q u i r i n g loans and other extensions of c r e d i t ) at 270 E. Kilbourn, Milwaukee, Wisconsin, the geographic area t o be served is Wisconsin and upper Michigan, through i t s subsidiary, Citizens Mortgage Company, Inc. (4/1/83) f Harris Bankcorp, I n c . , Chicago, I l l i n o i s , n o t i f i cation of intent to engage in de novo a c t i v i t i e s ( i n performing any one or more of the f u n c t i o n s or a c t i v i t i e s that may be performed by a t r u s t company including a c t i v i t i e s o f a f i d u c i a r y , agency or custodial nature) i n New York, New York these a c t i v i t i e s would be conducted nationwide, Through i t s subsidiary, Harris Trust Company of Kew York ( 9 / 8 / 8 3 ) ago Manufacturers Hanover Corporation, D e t r o i t , Michigan, for prior approval to acquire 100 percent of Manufacturers Trust Company of F l o r i d a , W.A., North Palm Beach, Florida, t o e s t a b l i s h a de novo trust company and to engage in personal trust and estate a c t i v i t i e s also s e l f employment and individual retirement accounts, the geographic area to served w i l l be Palm Beach County and i t s immediate environs(9/7/83) . o is tan f ramc isco Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis M & F Financial Corporation, Dumas, Arkansas, for approval to engage in real estate appraising. First Interstate Bancorp, Los Angeles, C alifor nia, n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s ( i n discount brokerage a c t i v i t i e s by buying and c e l l i n g securities solely as agent f o r the account of customers, without providing ?7 -30PECEIVED-Continued underwriting or investment advisory services; and in securities credit lending pursuant to Regulation T) at 4051 Montgomery Street, San Francisco, C a l i f o r n i a , serving the United States, through i t s subsidiary, First Interstate Discount Brokerage (9/13/83) Sufi frjfxstco Security Pacific Corporation, Los Angeles, C a l i f o r n i a , n o t i f i c a t i o n of intent to engage in de novo a c t i v i t i e s ( i n making or acquiring for i t s own account or for the account of others, loans and extensions o f c r e d i t , i n c l u d i n g making consumer installment personal loans, purchasing consumer Installment sales finance contracts, making loans to small businesses and other extensions of credit such as would be made by a factoring company or a consumer finance company and acting as broker or agent for the sale of credit l i f e , accident and health, and credit property insurance, such insurance a c t i v i t i e s being permitted pursuant to Section 601(A) and (D) of T i t l e VI of the Garn-St Germain Act) at 122 South Second S t r e e t , Hamilton, Ohio, serving the State of Ohio, through i t s subs i d i a r i e s , Security Pacific Finance Corp. and Security Pacific Finance Credit Corp. (9/14/83) * * * * * Application to the Board of Governors of the Federal Reserve System for Prior Approval of an A c q u i s i t i o n Pursuant to Section 5(b) of the Bank Service Corporation Act, as amended St. Louis Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Liberty National Bank and Trust Company of L o u i s v i l l e , L o u i s v i l l e , Kentucky, to engage in the underwriting of credit insurance through i t s subsidiary, LNB Life Insurance Company, L o u i s v i l l e , Kentucky. * * * * * REPORTS RECEIVED None. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ## 19R? No. ?7 - ? ] - APPLICATIONS RECEIVED-Continued PETITIONS FOR RULEMAKING None.