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H.2 Actions of the Board, Its Staff, and The ANNOUNCEMENT H.2, 1989, No. 21 Actions of the Board, its Staff, and BOARD OF GOVERNORS the Federal Reserve Banks; OF THE Applications and Reports Received FEDERAL RESERVE SYSTEM During the Week Ending May 27, 1989. ACTIONS TAKEN BY THE BOARD OF GOVERNORS BANK HOLDING COMPANIES SouthTrust Corporation, Birmingham, Alabama — to acquire SouthTrust National Bank after its relocation from Phenix City, Alabama, to Columbus, Georgia; and SouthTrust Bank of Russell County, Phenix City, Alabama. Approved, May 22, 1989. FORMS Monthly Survey of Selected Deposits and Other Accounts (FR 2042) and Quarterly Survey of the Number of Selected Deposit Accounts (FR 2071) — extension and revision of the former and elimination of the latter form. Approved, May 25, 1989. Report of Brokers Carrying Margin Accounts (FR 2240) — extension. Approved, May 25, 1989. Survey of Terms of Bank Lending (FR 2028A, 2028A-S, and 2028B) — extension with revision. Approved, May 25, 1989. ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY ABBREVIATIONS* BS&R - Banking Supervision and Regulation; C&CA - Consumer and Community Affairs; FOMC - Federal Open Market Committee; FRBO - Federal Reserve Bank Operations; GC - General Counsel; IF - International Finance; OSDM - Office of Staff Director for Management BANK BRANCHES, DOMESTIC Cleveland Central Trust Company, Newark, Ohio — to establish a customer bank communication terminal at 1155 North 21st Street. Approved, May 22, 1989. Richmond Signet Bank / Virginia, Richmond, Virginia — to establish a branch at the Williamsburg Crossing Shopping Center located at the intersection of Route 199 and Route 5, Williamsburg, Virginia. Approved, May 24, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 MAY 22, 1989 TO MAY 26, 1989 PAGE 2 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK BRANCHES, DOMESTIC Richmond Signet Bank / Virginia, Richmond, Virginia — to establish a branch at 2230 East Parham Road. Approved, May 24, 1989. New York United Jersey Bank, Hackensack, New Jersey — to establish an offsite electronic facility at Prudential Insurance Company of America, 1111 Durham Road, South Plainfield, Middlesex, New Jersey. Approved, May 25, 1989. BANK HOLDING COMPANIES Boston Bank of Boston Corporation, Boston, Massachusetts — to engage de novo in trust company activities, through BancBoston Trust Company of New York. Approved, May 26, 1989. Atlanta Bankers7 Bancorporation of Florida, Orlando, Florida — to acquire Independent Bankers7 Bank of Florida Approved, May 22, 1989. Atlanta Barnett Banks, Inc., Jacksonville, Florida — to expand the activities of Barnett Merchant Services, Inc. Withdrawn, May 23, 1989. Chicago BJS, Inc., West Union, Iowa — to retain voting shares of Westmont Corporation, and acquire The Farmers Savings Bank. Approved, May 25, 1989. Cleveland Central Bancorporation, Cincinnati, Ohio, and PNC Financial Corp., Pittsburgh, Pennsylvania — to acquire Money Station, Inc., Columbus, Ohio, and engage in ATM switch services. Permitted, May 26, 1989. New York Citicorp, New York, New York — to acquire Citicorp Information Resources, Stamford, Connecticut, and engage in data processing and management consulting services to depository institutions. Approved, May 24, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H. 2 MAY 22, 1989 TO MAY 26, 1989 PAGE 3 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Chicago Farmers Savings Bank Employee Stock Ownership Plan and Trust, West Union, Iowa — to acquire BJS, Inc., West Union, Iowa. Approved, May 25, 1989. Chicago First Michigan Bank Corporation, Holland, Michigan — to acquire Security National Bank of Manistee Manistee, Michigan. Approved, May 24, 1989. Minneapolis JDOB Incorporated, Naples, Florida — to acquire the First State Bank of New Germany, New Germany, Minnesota. Approved, May 26, 1989. Kansas City Labette County Bankshares, Inc., Altamont, Kansas — to engage de novo in accepting and servicing loan applications through Kansas Credit Company, Inc., Parsons, Kansas. Approved, May 24, 1989. St. Louis Liberty National Bancorp, Inc., Louisville, Kentucky — to engage de novo in lending and credit related insurance activities through Liberty Financial Services, Inc. Permitted, May 22, 1989. Chicago Mechanicsville Trust & Savings Bank, Trustee of Mechanicsville Trust & Savings Bank Employee Stock Ownership Plan & Trust, Mechanicsville, Iowa — to acquire additional shares of Mechanicsville Bancshares, Inc. Returned, May 24, 1989. New York Midland Bank PLC, London, England — to engage de novo in financial advisory activities through Samuel Montagu, Inc., New York, New York. Permitted, May 26, 1989. Richmond MNC Financial, Inc., Baltimore, Maryland — to acquire Prime Rate Premium Finance Corporation and Prime Rate Systems, Inc., Florence, South Carolina Approved, May 26, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 MAY 22, 1989 TO MAY 26, 1989 PAGE 4 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Kansas City New Hampton Bancshares, Inc., Albany, Missouri — to acquire Security Bancshares, Inc., and Bank of Gallatin, Gallatin, Missouri. Approved, May 26, 1989. Kansas City NorCentral Bancshares, Inc., Portis, Kansas — to acquire The First State Bank of Portis. Approved, May 25, 1989. Minneapolis Norwest Corporation, Minneapolis, Minnesota; Norwest Financial, Inc., Des Moines, Iowa; and Norwest Financial Services, Inc. — to engage de novo nationwide in underwriting involuntary unemployment insurance. Permitted, May 24, 1989. Kansas City Omnibancorp, Denver, Colorado — to engage in collection agency activities through Progressive Financial Services, Inc. Permitted, May 22, 1989. Philadelphia Penncore Financial Services, Inc., Newton, Pennsylvania — to engage de novo in courier services through Commonwealth Courier Services, Inc. Permitted, May 25, 1989. Dallas Red River Financial Corporation, Detroit, Texas — to acquire Community National Bank. Approved, May 24, 1989. Richmond Romney Bankshares, Inc., Romney, West Virginia — to acquire The Bank of Romney. Approved, May 23, 1989. Minneapolis Security Bancshares Company, Glencoe, Minnesota — to acquire Waconia State Bank, Waconia, Minnesota. Approved, May 23, 1989. Dallas Texas Bancorporation, Inc., Odessa, Texas — to acquire Texas Bank. Approved, May 25, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H . 2 MAY 22, 1989 TO MAY 26, 1989 PAGE 5 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Tuscaloosa Bancshares, Inc., Denham Springs, Louisiana — to engage in data processing services. Withdrawn, May 22, 1989. Dallas West Bancshares of Delaware, Inc., Wilmington, Delaware — to acquire West Bank & Trust, West, Texas. Approved, May 26, 1989. Boston Woburn National Corporation, Woburn, Massachusetts — to engage de novo in commercial loan activities. Permitted, May 26, 1989. BANK MERGERS Richmond Bank of Romney, Romney, West Virginia — to merge with Romney Interim Bank Corporation. Approved, May 23, 1989. Chicago First of America Bank - Northern Michigan, Cheboygan, Michigan — to merge with First of American Bank - Petoskey, National Association, Petoskey, Michigan. Approved, May 25, 1989. BANK PREMISES Richmond Peoples Bank of Montross, Montross, Virginia — investment in bank premises. Approved, May 26, 1989. Chicago Pioneer Bank, North Branch, Michigan — investment in bank premises. Approved, May 25, 1989. BANKS, STATE MEMBER Minneapolis Culbertson State Bank, Culbertson, Montana — payment of a dividend. Approved, May 26, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H . 2 MAY 22, 1989 TO MAY 26, 1989 PAGE 6 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CAPITAL STOCK Kansas City New Hampton Bancshares, Inc., Albany, Missouri — redemption of shares. Approved, May 26, 1989. CHANGE IN BANK CONTROL Dallas Bank of Van Zandt, Canton, Texas — change in bank control. Permitted, May 22, 1989. Minneapolis Crow River State Bank, Delano, Minnesota -- change in bank control. Permitted, May 25, 1989. Chicago Keystone Community Bancorporation, Keystone, Iowa — change in bank control. Permitted, May 24, 1989. Kansas City Quivira Banc Shares, Inc., Sterling, Kansas — change in bank control. Permitted, May 25, 1989. COMPETITIVE FACTORS REPORTS Chicago Bank of Farmington, Farmington, Illinois, proposed merger with BF Interim Bank — report on competitive factors. Submitted, May 25, 1989. Atlanta Commercial Bank, Crawford, Georgia, proposed merger with Commercial Interim, Inc. — report on competitive factors. Submitted, May 24, 1989. Chicago Commercial National Bank of Peoria, Peoria, Illinois, proposed merger with First National Bank of Morton, Morton, Illinois — report on competitive factors. Submitted, May 22, 1989. Dallas Community National Bank, Austin, Texas, proposed merger with New Community Bank, Austin, Texas — report on competitive factors. Submitted, May 24, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 MAY 22, 1989 TO MAY 26, 1989 PAGE 7 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY COMPETITIVE FACTORS REPORTS Chicago Community State Bank of
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