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H.2 Actions of the Board, Its Staff, and The ANNOUNCEMENT H.2, 1989, No. 28 '■ ■ Actions of the Board, its Staff, and .. ■■■ BOARD OF GOVERNORS the Federal Reserve Banks; JL 3 ‘ & 55 i f ' M E Applications and Reports Received .FEDERAL RESERVE SYSTEM During the Week Ending July 15, 1989. • r • V\t ACTIONS THE BOARD OF GOVERNORS BANK HOLDING COMPANIES SouthTrust Corporation, Birmingham, Alabama — to underwrite and deal in securities, to offer full-service brokerage services and investment advice, and to engage in commercial paper and in private placement activities through SouthTrust Securities, Incorporated. Approved, July 10, 1989. TESTIMONY AND STATEMENTS National Flood Insurance Program — letter to Congressman Erdreich, Chairman of the Subcommittee on Policy Research and Insurance of the House Committee on Banking, Finance and Urban Affairs. Approved, July 11, 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 Minneapolis Farmers & Merchants Bank, Huron, South Dakota — to establish a branch at 1920 Broadway, Yankton, South D a k o t a . Approved, July 11, 1989. Cleveland Fifth Third Bank, Columbus, Ohio — to establish a branch at Columbus City Center, Building D - Store 127. Approved, July 11, 1989. Atlanta Merchant Bank of Florida, Brandon, Florida — to establish a branch at Teco Plaza, 702 North Franklin Street, Tampa, Florida. Approved, July 12, 1989. Dallas Texas Commerce Bank - Rio Grande Valley, Brownsville, Texas — to establish a branch at 2300 Boca Chica, Brownsville, Texas. Approved, July 13, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H. 2 JULY 9, 1989 TO JULY 14, 1989 PAGE 2 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Staff Director Allegheny Bankshares Corporation, Lewisburg, West BS&R Virginia — transfer agent registration. Approved, July 12, 1989. Chicago Bank of Elmwood Employee Stock Ownership Plan and Trust, Racine, Wisconsin — to acquire Elmwood Financial Corporation, and Bank of Elmwood, Elmwood, Wisconsin. Approved, July 12, 1989. Staff Director Barnett Brokerage, Service, Inc., Jacksonville, BS&R Florida — request for relief from commitment not to act as a principal or take a position in any securities it brokers. Granted, July 10, 1989. Atlanta BMR Financial Group, Inc., Atlanta, Georgia — to acquire Bay Bankshares, Inc., Clearwater, Florida; Ameribank; and Ameribank of Oldsmar, Oldsmar, F l o r i d a . Approved, July 13, 1989. Kansas City BOC Banshares, Inc., Chouteau, Oklahoma — to acquire Bank of Commerce. Approved, July 13, 1989. Atlanta Dadeland Bancshares, Inc., Miami, Florida; Dadeland Bank; and Community Bank of Homestead, Homestead, Florida — to retain shares of Financial Processors, Inc., Miami, Florida. Withdrawn, July 10, 1989. Cleveland Fifth Third Bancorp, Cincinnati, Ohio — to acquire C.S. Bancshares, Inc., Connersville, Indiana. Approved, July 14, 1989. Boston Fleet / Norstar Financial Group, Inc., Providence, Rhode Island — to transfer certain accounts of Shatkin Financial Services, Inc., Chicago, Illinois to Norstar Brokerage Corporation, New York, New York. Approved, July 11, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H . 2 JULY 9, 1989 TO JULY 14, 1989 PAGE 3 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES Atlanta Franklin Financial Corporation, Franklin, Tennessee — to acquire Franklin National Bank. Approved, July 14, 1989. New York Fuji Bank, Limited, Tokyo, Japan — to acquire certain factoring assets of NatWest Commercial Services, Inc., New York, New York. Approved, July 12, 1989. San Francisco Gateway Bancorp, Inc., Phoenix, Arizona — to engage in credit card authorization services through Allied Investment Company, Inc. Returned, July 12, 1989. Philadelphia Guaranty Bancshares Corporation, Shamokin, Pennsylvania — to acquire Guaranty Bank of Princeton, Princeton, New Jersey. Approved, July 12, 1989. New York Midlantic Corporation, Edison, New Jersey — to acquire Central Trust Company, Rochester, New York; Endicott Trust Company, Endicott, New York; The First National Bank of Moravia, Moravia, New York, The Merchants National Bank & Trust Company of Syracuse, Syracuse, New York, and Union National Bank, Albany, New York Approved, July 14, 1989. Secretary National City Corporation, Cleveland, Ohio — to acquire Shawmut Mortgage Corporation, Miamisburg, Ohio, and engage in mortgage banking activities and credit related insurance. Approved, July 13, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 JULY 9, 1989 TO JULY 14, 1989 PAGE 4 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK HOLDING COMPANIES New York National Westminster PLC, London, England; NatWest Holdings Inc., Wilmington, Delaware; and National Westminster Bancorp Inc., New York, New York — to acquire Ultra Bancorporation, Bridgewater, New Jersey; Ultra Bancorporation to merge with National Westminster Bancorp NJ, Jersey City, New Jersey; and coincident with the merger of Ultra Bancorporation, National Westminster Bancorp NJ to acquire Ultra BancorporationTs interest in Bancorps1 International Trading Corporation, Bridgewater, New Jersey, an export trading company. Approved, July 12, 1989. Minneapolis New Richland Bancshares, Inc., New Richland, Minnesota — to acquire State Bank of New Richland, New Richland, Minnesota. Approved, July 14, 1989. Atlanta North Georgia National Bancshares, Inc., Woodstock, Georgia — to acquire North Georgia National Bank. Approved, July 13, 1989. New York Texas Commerce Bancshares, Inc.," Houston, Texas — exemption from Regulation L to permit William D. Ruckelshaus to serve as a director of the Texas Commerce Bancshares> Inc., Houston Texas, while also serving as a director of Weyerhaeuser Company, Tacoma, Washington. Granted, July 13, 1989. Boston United SaverTs Bancorp, Inc., Manchester, New Hampshire — to continue to engage in loan servicing activities. Approved, July 11, 1989. Boston Wachusett Bancorp, Inc., Clinton, Massachusetts — to acquire Clinton Savings Bank. Withdrawn, July 14, 1989. Kansas City Wauneta Falls Bancorp, Inc., Wauneta, Nebraska — to acquire Wauneta Falls Bank. Approved, July 11, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2 JULY 9, 1989 TO JULY 14, 1989 PAGE 5 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY BANK MERGERS Richmond Crestar Bank, Richmond, Virginia — to merge with Mountain National Bank of Clifton Forge, Clifton Forge, Virginia. Approved, July 10, 1989. BANK PREMISES Chicago Bank of Sturgeon Bay, Sturgeon Bay, Wisconsin — investment in bank premises. Approved, July 14, 1989. Staff Director Bankers Trust Company, Des Moines, Iowa — investment BS&R in bank premises. Approved, July 13, 1989. Cleveland Sabina Bank, Sabina, Ohio — investment in bank premises. Approved, July 10, 1989. Staff Director United States Trust Company of New York, New York, BS&R New York — investment in bank premises. Approved, July 13, 1989. BANKS, STATE MEMBER Staff Director First Bank North, Freeport, Illinois — transfer BS&R agent registration. Approved, July 12, 1989. CAPITAL STOCK Chicago Cleghorn Financial, Inc., Omaha, Nebraska — redemption of shares. Approved, July 14, 1989. Boston Family Bancorp, Haverhill, Massachusetts — redemption of shares. Approved, July 9, 1989. Minneapolis Farmers and Merchants Financial Services, Inc., St. Paul, Minnesota — redemption of shares. Approved, July 14, 1989. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H. 2 JULY 9, 1989 TO JULY 14, 1989 PAGE 6 ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS UNDER DELEGATED AUTHORITY CHANGE IN BANK CONTROL Kansas City American Banc Corporation, Fremont, Nebraska — change in bank control. Permitted, July 14, 1989. Cleveland Ameritrust Corporation, Cleveland, Ohio — change in bank control. Permitted, July 11, 1989. Richmond ENB Financial Corporation, Elkridge, Maryland — change in bank control. Permitted, July 12, 1989. Chicago First Alsip Bancorp, Inc., Alsip, Illinois — change in bank control. Returned, July 13, 1989. Chicago Oswego Bancshares, Inc., Oswego, Illinois — change in bank control. Permitted, July 12, 1989. Dallas Premier Bancshares of Texas, Inc., Kerrville, Texas — change in bank control. Returned, July 14, 1989. S t . Louis Rosedale First National Corp. Rosedale, Mississippi — change in bank control. Withdrawn, July 12, 1989. Kansas City Stigler Bancorporation, Stigler, Oklahoma — change in bank control. Permitted, July 13, 1989. COMPETITIVE FACTORS REPORTS Kansas City Bank of Oklahoma, N.A., Tulsa, Oklahoma, proposed merger with Bank of Oklahoma, Broken Arrow, N.A., Broken Arrow, Oklahoma; Bank of Oklahoma, City Plaza, Tulsa; Bank of Oklahoma, Lewis Center, Tulsa; and Bank of Oklahoma, Southwest Tulsa, Tulsa, Oklahoma — report on competitive factors. Submitted, July 14, 1989. Kansas City Bank of Papillon, Papillon, Nebraska, proposed merger with Bank of the Midlands — report on competitive factors. Submitted, July 13, 1989. Digitized for FRASER http://fraser.stlouisfed.org/
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