DOCSLIB.ORG

Corporate Decision #97-104 December 1997

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Corporate Decision #97-104 December 1997 Comptroller of the Currency Administrator of National Banks Washington, D.C. 20219 Corporate Decision #97-104 December 1997 DECISION OF THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ON THE APPLICATION TO MERGE THIRTY-ONE AFFILIATED BANKS WITH AND INTO UNION PLANTERS NATIONAL BANK, MEMPHIS, TENNESSEE December 3, 1997 _____________________________________________________________________________ I. INTRODUCTION On October 21, 1997, Union Planters National Bank, Memphis, Tennessee (“UPNB” or “the Bank”), filed an Application (“Merger Application”) with the Office of the Comptroller of the Currency ("OCC") for approval to merge fifteen affiliated banks located in other states with and into UPNB under UPNB’s charter and title, pursuant to 12 U.S.C. §§ 215a-1, 1828(c) & 1831u(a) ("the Interstate Merger"),1 and to merge sixteen affiliated banks in Tennessee with and into UPNB under UPNB’s charter and title, pursuant to 12 U.S.C. §§ 215a & 1828(c) (“the In- state Merger”).2 Simultaneously with the merger, UPNB will change its name to Union Planters 1 The affiliated banks in other states participating in the Interstate Merger are: Union Planters Bank of Alabama, Decatur, Alabama (“Alabama affiliate bank”); Union Planters Bank of Central Arkansas, National Association, Clinton, Arkansas, Union Planters Bank of Northeast Arkansas, Jonesboro, Arkansas (“Arkansas affiliate banks”); Simpson County Bank, Franklin, Kentucky (“Kentucky affiliate bank”); Union Planters Bank of Louisiana, Baton Rouge, Louisiana (“Louisiana affiliate bank”); Union Planters Bank of Southeast Missouri, Cape Girardeau, Missouri, Union Planters Bank of Mid-Missouri, Columbia, Missouri, Union Planters Bank of Mississippi County, East Prairie, Missouri, Union Planters Bank of Missouri, St. Louis, Missouri, Union Planters Bank of Southwest Missouri, Springfield, Missouri (“Missouri affiliate banks”); Union Planters Bank of Northwest Mississippi, Clarksdale, Mississippi, Union Planters Bank of Mississippi, Grenada, Mississippi, Union Planters Bank of Southern Mississippi, Hattiesburg, Mississippi, Union Planters Bank of Central Mississippi, Jackson, Mississippi, and Union Planters Bank of Northeast Mississippi, National Association, New Albany, Mississippi (“Mississippi affiliate banks”). Each of the banks currently operates branches only in its home state, except Union Planters Bank of Southern Mississippi, which acquired branches in Alabama as a result of its merger with Magnolia Federal Bank for Savings, Hattiesburg, Mississippi, on November 1, 1997. 2 The affiliated banks in Tennessee participating in the In-state Merger are: Union Planters Bank of the Tennessee Delta, Brownsville, Tennessee; Union Planters Bank of Chattanooga, National Association, Chattanooga, Tennessee; Union Planters Bank of the Cumberlands, Cookeville, Tennessee; The First National Bank of Crossville, Crossville, Tennessee; Union Planters Bank of North Central Tennessee, Erin, Tennessee; Bank of Goodlettsville, Goodlettsville, Tennessee; Union Planters Bank of the Tennessee Valley, Harriman, Tennessee; Union Planters Bank of South Central Tennessee, Hohenwald, Tennessee; Union Planters Bank of West Tennessee, Humboldt, Tennessee; - 2 - Bank, National Association. All banks in the merger transactions are members of the Bank Insurance Fund (“BIF”) except Union Planters Bank of Alabama, Decatur, Alabama, which is a member of the Savings Association Insurance Fund (“SAIF”). UPNB has its main office in Memphis, Tennessee, and currently operates branches in Tennessee, Arkansas, and Mississippi. In the Merger Application, OCC approval is requested for UPNB, as the resulting bank, to retain UPNB’s main office as the main office of the resulting bank under 12 U.S.C. § 1831u(d)(1) and to retain UPNB’s branches and the main offices and branches of the other merging banks, as branches after the merger under 12 U.S.C. §§ 36(d) & 1831u(d)(1) (in the case of the Interstate Merger) and under 12 U.S.C. § 36(b)(2) (in the case of the In-state Merger). UPNB will succeed to the fiduciary appointments and activities of the affiliated banks through the mergers by operation of statute. See 12 U.S.C. § 215a(e). In addition to conducting trust operations at the main office and branches of UPNB, UPNB will continue to operate two locations as nonbranch trust offices.3 All of the banks are direct or indirect subsidiaries of Union Planters Corporation, a multistate bank holding company headquartered in Memphis, Tennessee. In the proposed mergers, a number of Union Planters Corporation’s existing bank subsidiaries will be combined into one bank with branches in seven states. II. LEGAL AUTHORITY A. The Interstate Merger is Authorized, and the Resulting Bank may Retain the Offices of the Banks, under 12 U.S.C. §§ 215a-1, 1831u & 36(d) (the Riegle-Neal Act). 1. The Interstate Merger is authorized. In 1994, Congress enacted legislation to create a framework for interstate mergers and branching by banks. See Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, Pub. L. No. 103-328, 108 Stat. 2338 (enacted September 29, 1994) ("the Riegle-Neal Act"). The Riegle-Neal Act added a new section 44 to the Federal Deposit Insurance Act that authorizes certain interstate merger transactions beginning on June 1, 1997. See Riegle-Neal Act § 102(a) (adding new section 44, 12 U.S.C. § 1831u). It also made conforming amendments to the Union Planters Bank of Jackson, National Association, Jackson, Tennessee; Union Planters Bank of East Tennessee, National Association, Knoxville, Tennessee; Union Planters Bank of Lexington, Lexington, Tennessee; Union Planters Bank of Middle Tennessee, National Association, Nashville, Tennessee; First National Bank of Shelbyville, Shelbyville, Tennessee; Union Planters Bank of Southwest Tennessee, Somerville, Tennessee; and Bank of Commerce, Woodbury, Tennessee (“Tennessee affiliate banks”). Each of the banks operates branches only in Tennessee. 3 These two nonbranch trust offices are offices of Union Planters Bank of Mississippi, Grenada, Mississippi, located at 4270 I-55 North, Suite 202, Jackson, Mississippi, and Union Planters Bank of Northwest Mississippi, Clarksdale, Mississippi, located at 219 E. Second Street, Clarksdale, Mississippi. These offices do not receive deposits, pay checks, or lend money; and so these locations are not “branches” for purposes of the McFadden Act. See 12 U.S.C. § 36(j). - 3 - provisions on mergers and consolidations of national banks to permit national banks to engage in such section 44 interstate merger transactions. See Riegle-Neal Act § 102(b)(4) (adding a new section, codified at 12 U.S.C. § 215a-1). It also added a similar conforming amendment to the McFadden Act to permit national banks to maintain and operate branches in accordance with section 44. See Riegle-Neal Act § 102(b)(1)(B) (adding new subsection 12 U.S.C. § 36(d)). Section 44 authorizes mergers between banks with different home states: (1) In General. -- Beginning on June 1, 1997, the responsible agency may approve a merger transaction under section 18(c) [12 U.S.C. § 1828(c), the Bank Merger Act] between insured banks with different home States, without regard to whether such transaction is prohibited under the law of any State. 12 U.S.C. § 1831u(a)(1).4 The Act permits a state to elect to prohibit such interstate merger transactions involving a bank whose home state is the prohibiting state by enacting a law between September 29, 1994, and May 31, 1997, that expressly prohibits all mergers with all out-of-state banks. See 12 U.S.C. § 1831u(a)(2) (state "opt-out" laws). In this Merger Application, the home states of the banks are Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Missouri, and Tennessee. None of these states has opted out. Accordingly, the Interstate Merger may be approved under 12 U.S.C. §§ 215a-1 & 1831u(a). 5 In addition, an application to engage in an interstate merger transaction under 12 U.S.C. § 1831u is also subject to certain requirements and conditions set forth in sections 1831u(a)(5) and 1831u(b) of the Riegle-Neal Act. These conditions are: (1) compliance with state-imposed age limits, if any, subject to the Act’s limits; (2) compliance with certain state filing requirements, to the extent the filing requirements are permitted in the Act; (3) compliance with nationwide and state concentration limits; (4) community reinvestment compliance; and (5) adequacy of capital and management skills. The Interstate Merger satisfies all these conditions to the extent applicable. First, the proposal satisfies the state-imposed age requirements permitted by section 1831u(a)(5). Under that section, the OCC may not approve a merger under section 1831u(a)(1) "that would have the effect of permitting an out-of-State bank or out-of-State bank holding company to acquire a bank 4 For purposes of section 1831u, the following definitions apply: The term "home State" means, with respect to a national bank, "the State in which the main office of the bank is located." The term "host State" means, "with respect to a bank, a State, other than the home State of the bank, in which the bank maintains, or seeks to establish and maintain, a branch." The term "interstate merger transaction" means any merger transaction approved pursuant to section 1831u(a)(1). The term "out-of-State bank" means, "with respect to any State, a bank whose home State is another State." The term "responsible agency" means the agency determined in accordance with 12 U.S.C. § 1828(c)(2) (namely, the OCC if the acquiring, assuming, or resulting bank is a national bank). See 12 U.S.C. § 1831u(f)(4), (5), (6), (8) & (10). 5 The mergers between UPNB and each of the affiliate banks in the Interstate Merger are structured as separate, but simultaneous, mergers of each affiliate bank into UPNB. Thus, we treat each one of them as an interstate merger transaction under the Riegle-Neal Act. - 4 - in a host state that has not been in existence for the minimum period of time, if any, specified in the statutory law of the host State." 12 U.S.C.
Load more

Recommended publications
  • REGIONS FINANCIAL CORPORATION (Exact Name of Registrant As Specified in Its Charter)
    REGIONS FINANCIAL CORP FORM 10-K (Annual Report) Filed 02/25/09 for the Period Ending 12/31/08 Address 1900 FIFTH AVENUE NORTH BIRMINGHAM, AL 35203 Telephone 205-944-1300 CIK 0001281761 Symbol RF SIC Code 6021 - National Commercial Banks Industry Regional Banks Sector Financial Fiscal Year 12/31 http://www.edgar-online.com © Copyright 2011, EDGAR Online, Inc. All Rights Reserved. Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2008 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-50831 REGIONS FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 63 -0589368 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1900 Fifth Avenue North, Birmingham, Alabama 35203 (Address of principal executive offices) Registrant’s telephone number, including area code: (205) 944-1300 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, $.01 par value New York Stock Exchange 8.875% Trust Preferred Securities of Regions Financing Trust III New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.
    [Show full text]
  • Carceral State: Baton Rouge and Its Plantation Environs Across Emancipation by William Iverson Horne M.A. in History, August
    Carceral State: Baton Rouge and its Plantation Environs Across Emancipation by William Iverson Horne M.A. in History, August 2013, The George Washington University A Dissertation submitted to The Faculty of The Columbian College of Arts and Sciences of The George Washington University in partial fulfillment of the requirements for the degree of Doctor of Philosophy May 19, 2019 Dissertation directed by Tyler Anbinder and Andrew Zimmerman Professors of History The Columbian College of Arts and Sciences of The George Washington University certifies that William Iverson Horne has passed the Final Examination for the degree of Doctor of Philosophy as of March 6, 2019. This is the final and approved form of the dissertation. Carceral State: Baton Rouge and its Plantation Environs Across Emancipation William Iverson Horne Dissertation Research Committee: Tyler Anbinder, Professor of History, Dissertation Co-Director Andrew Zimmerman, Professor of History and International Affairs, Dissertation Co-Director Erin Chapman, Associate Professor of History, Committee Member Adam Rothman, Professor of History, Committee Member ii © Copyright 2019 by William Iverson Horne All rights reserved iii Dedication I dedicate this work to my family, who supported me from the beginning of this project to its completion. I simply could not have done any of this work without their love and encouragement. My wife Laura has, at every turn, been the best partner one could hope for while our two children, Abigail and Eliza, grounded me in reality and sustained me with their unconditional affection. They reminded me that smiling, laughing, and even crying are absolute treasures. I have learned so much from each of them and remain, above all else, grateful to be “Dad.” iv Acknowledgments Two groups of people made this work possible: the scholars who gave me advice at various stages of the project and my coworkers, neighbors, and friends who shared their stories of struggle and triumph.
    [Show full text]
  • Interpretations - Corporate Decision #96-48
    Interpretations - Corporate Decision #96-48 Office of the Comptroller of the Currency Interpretations - Corporate Decision #96-48 Published in Interpretations and Actions September 1996 DECISION OF THE OFFICE OF THE COMPTROLLER OF THE CURRENCY ON THE APPLICATIONS OF UNION PLANTERS BANK, N.A., WEST MEMPHIS, ARKANSAS, AND UNION PLANTERS NATIONAL BANK, MEMPHIS, TENNESSEE August 28, 1996 I. INTRODUCTION On June 27, 1996, Union Planters Bank, National Association, West Memphis, Arkansas ("UPB") (formerly named First National Bank in West Memphis) filed an application with the Office of the Comptroller of the Currency ("OCC") for approval to change the location of its main office from West Memphis, Arkansas, to Memphis, Tennessee, under 12 U.S.C. 30 (the "Relocation Application"). The location in Memphis is approximately 16 miles from West Memphis. After the relocation of its main office, UPB would retain its existing branches in Arkansas. UPB also applied to the OCC for approval, following the relocation of its main office, to establish a new branch at the former location of its main office in West Memphis under 12 U.S.C. 36(c) (the "Branch Application"). On June 27, 1996, an Application was also made to the OCC for approval, after the relocation and branch establishment, to merge UPB with and into Union Planters National Bank, Memphis, Tennessee ("UPNB"), under 12 U.S.C. 215a & 1828(c) (the "Merger Application"), under the charter and title of the latter ("UPNB-Resulting" or the "Resulting Bank"). In the Merger Application, OCC approval is also requested for the resulting bank to retain the branches of both merging banks in Arkansas and Tennessee, as branches after the merger under 12 U.S.C.
    [Show full text]
  • Investor Relations Contacts: Regions Financial Corp.: Jenifer M. Goforth 205/244-2823 Union Planters Corp.: Richard Trigger 901/580-5974
    Investor Relations Contacts: Regions Financial Corp.: Jenifer M. Goforth 205/244-2823 Union Planters Corp.: Richard Trigger 901/580-5974 Media Relations Contacts: Regions Financial Corp.: Kristi Lamont Ellis 205/326-7179 Union Planters Corp.: Linda G. Childs 901/580-4915 JUNE 17, 2004 REGIONS, UNION PLANTERS RECEIVE APPROVAL FOR MERGER BIRMINGHAM, Ala. and MEMPHIS, Tenn. – Regions Financial Corp. (NYSE:RF) and Union Planters Corp. (NYSE:UPC) have received approval from the Federal Reserve to finalize the merger of the two companies. The approval clears the way for the two companies to proceed with legal closure of the merger, first announced Friday, Jan. 23, 2004. In separate votes Tuesday, June 8, 2004, shareholders of both companies gave overwhelming approval of the put-together of the two superregional banks, creating a new regional force in banking and financial services. Antitrust authorities and the Securities and Exchange Commission (SEC) had previously issued approvals. “We are happy that we have now received all necessary governmental approvals of the transaction,” said Regions Chairman and CEO Carl E. Jones Jr. “We are looking forward to the legal close of the merger. “Once we take that next step, we can then begin reaching out as the new Regions to our combined 5 million customers, and that is very exciting for all of us,” Jones said. 1 When the transaction is legally closed, the new combined company, to be called Regions Financial Corporation, will be among the nation’s top bank holding companies with more than $80 billion in assets. The new Regions will be a major financial institution in 15 states across the South, Midwest, and Texas with 1,400 branches, 1,700 ATMs and more than 140 brokerage offices.
    [Show full text]
  • 4Q17 Form 10-K
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2017 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-34034 REGIONS FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Delaware 63-0589368 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1900 Fifth Avenue North, Birmingham, Alabama 35203 (Address of principal executive offices) Registrant’s telephone number, including area code: (800) 734-4667 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered Common Stock, $.01 par value New York Stock Exchange Depositary Shares, each representing a 1/40th Interest in a Share of 6.375% Non-Cumulative Perpetual Preferred Stock, Series A New York Stock Exchange Depositary Shares, each representing a 1/40th Interest in a Share of 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
    [Show full text]
  • Federal Register / Vol. 60, No. 188 / Thursday, September 28, 1995 / Notices 50205
    Federal Register / Vol. 60, No. 188 / Thursday, September 28, 1995 / Notices 50205 It is furthered ordered That this (a) Should any party believe that an By the Commission. proceeding is limited to the submission evidentiary hearing is required, that Joseph C. Polking, of facts and memoranda of law; party must submit a request for such Secretary. It is further ordered That any person hearing together with a statement setting [FR Doc. 95±24015 Filed 9±27±95; 8:45 am] having an interest and desiring to forth in detail the facts to be proved, the BILLING CODE 6730±01±M intervene in this proceeding shall file a relevance of those facts to the issues in petition for leave to intervene in this proceeding, a description of the accordance with Rule 72 of the evidence which would be adduced, and Ocean Freight Forwarder License Commission's Rules of Practice and why such evidence cannot be submitted Revocations Procedure, 46 CFR § 502.72. Such by affidavit; petition shall be accompanied by the (b) Should any party believe that an The Federal Maritime Commission petitioner's memorandum of law and oral argument is required, that party hereby gives notice that the following affidavits of fact, if any, and shall be must submit a request specifying the freight forwarder licenses are revoked filed no later than the day fixed below; reasons therefore and why argument by pursuant to section 19 of the Shipping It is further ordered That Michael A. memorandum is inadequate to present Act of 1984 (46 U.S.C. app. 1718) and Grant is named a Respondent in this the party's case; and the regulations of the Commission proceeding.
    [Show full text]
  • Download 214845.Pdf
    DEPARTMENT OF JUSTICE “MEGA-MERGERS” IN THE BANKING INDUSTRY Address by ROBERT KRAMER Chief, Litigation II Section Antitrust Division U.S. Department of Justice Before the American Bar Association Antitrust Section Washington, D.C. April 14, 1999 Introduction Thank you for the invitation to discuss “mega-mergers” in the banking industry. Over the last decade, we have seen an explosion both in the number of mergers in banking and, in the past few years, in large deals that have caught the public imagination and concern.1 Since the early 1980s, mergers have resulted in the number of banks in the U.S. declining from about 15,000 to about 9,000. 2 The number of bank mergers is only part of the story; equally significant is the fact that a number of individual mergers during the 1990's ranked among the largest U.S. bank mergers ever, in terms of the real value of assets involved, and in terms of the share of total U.S. bank assets accounted for by the merging banks. Many of these deals have occurred under my watch, and I would like to use 1998's mega-mergers to give you a sense of how the Antitrust Division handles them. One caveat. The mergers that are today’s topic may be large in an absolute dollar sense, but nothing we have seen or are likely to see soon, involves the type of nationwide concentration issues that were faced by Canada during the past year. U.S. overall banking concentration remains low, and while the U.
    [Show full text]
  • No. 03-16744 Chapter 7 THOMAS EDDIE ABBOTT KATHY JEAN ABBOTT
    UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF TENNESSEE SOUTHERN DIVISION In re: No. 03-16744 Chapter 7 THOMAS EDDIE ABBOTT KATHY JEAN ABBOTT, Debtors. UNION PLANTERS BANK, N.A., Plaintiff, v. Adv. Pro. 04-1037 THOMAS EDDIE ABBOTT, Defendant. MEMORANDUM Appearances: Joseph Prochaska, Williams & Prochaska, P.C., Nashville, Tennessee C. Kelly Wilson, Wilson, Henegar & Murray, Shelbyville, Tennessee, Attorney for the Defendant Judge R. Thomas Stinnett, United States Bankruptcy Court. This is a dischargeability proceeding. The defendant, Thomas Abbott, operated A & F Irrigation, Inc., for many years before he and A & F both filed bankruptcy. About eighteen months before the bankruptcies, Union Planters Bank lent A & F almost half a million dollars, and Mr. Abbott guaranteed payment of the debt. In this lawsuit, Union Planters contends that Mr. Abbott’s debt to it for the unpaid balance of the loan can not be discharged in Mr. Abbott’s bankruptcy case. Union Planters relies on bankruptcy code § 523(a)(2)(B). The question under that statute is whether Mr. Abbott obtained the loan by use of a materially false written statement concerning his or A & F’s financial condition. 11 U.S.C. § 523(a)(2)(B). The court finds the facts as follows. A & F started business in 1976 as a golf course landscaping and irrigation company, but it later dropped the landscaping work and limited itself to installing irrigation systems in golf courses. That was its sole business for 20 years or so before the trial. Mr. Abbott had been running A & F for more than 20 years. Five or six years before the trial, Mr.
    [Show full text]
  • SEC News Digest, 10-08-1996
    SECNEIlS DIIEST Issue 96-192 October 8, 1996 ENFORCEMENT PROCEEDINGS COMPLAINT ALLEGING FRAUD IN SALE OF "PRIME BANK" SECURITIES FILED AGAINST KENNETH EDWARDS, FIRST AMERICAN COMPANIES AND OTHERS The Securities and Exchange Commission today announced the filing of a complaint with the United States District Court for the Eastern District of California against Kenneth E. Edwards and Roger S. Chedester of the Sacramento, California area, Donald E. Luna, A.R. Grant Morehouse and the First American Companies, Inc. of Hilton Head, South Carolina. The Commission's complaint alleges that Edwards was involved in three separate schemes to sell fraudulent "prime bank" securities. Edwards helped raise over $3 million dollars from investors between July 1994 and January 1995. The selling of "prime bank" securities is a frequent form of fraud. Investors are promised annual returns in excess of 100 percent with no risk to principal, a return purportedly available because the seller of the securities trades in the off-balance sheet debt obligations of certain "prime banks". The first of three schemes involved securities fraudulently issued by First American Companies, Inc., led by Luna and Morehouse. The Commission seeks an order enjoining future violations of the registration and antifraud provisions of the federal securities laws, as well as disgorgement from each defendant of ill-gotten gains. [Securities and Exchange Commission v. Kenneth E. Edwards, Roger S. Chedester, Donald E. Luna, A.R. Grant Morehouse, and the First American Companies, Inc., USDCED Cal., CIV-s-96 1716 GEB GGH) (LR-15111). JAMES CLEVELAND INDICTED IN TWO TEXAS COUNTIES The Commission and the District Attorney for the 21st Judicial District, Texas, announced that grand juries in Burleson County and Washington County returned indictments against James Russell Cleveland of Brenham, Texas, on September 4, 1996, and September 24, 1996, respectively.
    [Show full text]
  • Failed Or Closed Bank Mergers
    FEDERAL DEPOSIT INSURANCE CORPORATION MERGER DECISIONS ANNUAL REPORT TO CONGRESS Bank Merger Act Reporting Requirements (Wednesday, January 01, 2003 through Wednesday, December 31, 2003) All of the following Merger applications have been approved by the FDIC during the year 2003. With regard to each of these applications, the FDIC considered and found favorably with respect to the statutory factors involved, including the financial and managerial resources; future prospects; convenience and needs of the community to be served, and the effectiveness of each depository institution involved in the merger in combating money laundering activities, including in overseas branches . Except as noted, reports regarding the competitive factors were requested from the Attorney General and other Federal banking agencies, and the Summary Report by the Attorney General indicated that the transaction would not have a significant adverse effect on competition. In each case, the FDIC has determined (1) that the transaction would not result in a monopoly or further any combination or conspiracy to monopolize or to attempt to monopolize the business of banking in any part of the United States; and (2) that the transaction would not have the effect in any section of the country to substantially lessen competition or tend to create a monopoly or in any other manner restrain trade, unless the anticompetitive effects of the transaction were clearly outweighed in the public interest by the probable effect of the transaction in meeting the convenience and needs of the community to be served. Note: Additional copies of this Report can be downloaded from the FDIC's Public Information Center's web site at www.fdic.gov/news/publications/public/index.html.
    [Show full text]
  • Bank One and Union Planters to Disappear Mississippi Bankers Association Elects Walker President for 2004-2005 Farrar Is
    June 28, 2004 Volume 124, No. 26 Mississippi Bankers Association Elects Walker Bank One and Union President for 2004-2005 Planters To Disappear T. E. “Gene” Walker, chairman/CEO dent/COO, National Bank of Commerce, Two well-known American banking of The Bank of Forest, Forest, MS, has Starkville; Freddie J. Bagley, chairman, names will become casualties of mega- been elected president of the Missis- Community Bank of MS, Forest; John L. bank mergers, according to separate sippi Bankers Association “Johnny” Barrett, president/ announcements that Bank One Corp., for 2004-2005. He suc- CEO, First National Bank of Chicago, IL, and Union Planters Corp., ceeds Hugh S. Potts Jr., Oxford; Carl Chaney, CFO, Memphis, TN, names will be dropped chairman/CEO, M&F Bank, Hancock Bank, Gulfport; when they merge with J.P. Morgan Kosciusko. James R. “Bo” Collins, Chase & Co. and Regions Financial The association also elect- president of Bank of New Corp., respectively. ed as its vice president Huey Albany; Mike Jones, presi- Shareholders, regulators, and others L. Townsend, president dent/CEO, Bank of Winona; have approved the mergers, and both and CEO of Belzoni-based Jim Kelley, president/COO, mergers are expected to close on July Guaranty Bank & Trust Co., BancorpSouth, Tupelo; Ed- 1, 2004. and as its treasurer Richard die Ray, president/CEO of J. P. Morgan Chase will absorb Bank Hickson, chairman and CEO Mechanics Bank, Water Val- One Corp., creating the nation’s second of Trustmark National Bank, Jackson. ley, and Scott Wiggers, president/COO, largest banking company with over $1 Newly elected members of the MBA M&F Bank, Kosciusko Q trillion in assets.
    [Show full text]
  • New Applications Received and Actions Taken
    NEW APPLICATIONS RECEIVED AND ACTIONS TAKEN BY THE STATE BANKING DEPARTMENT FOR THE MONTH OF APRIL 2005 NEW BANK APPLICATIONS DATE BANK/LOCATION ACTION 04-01-05 SouthPoint Bank, Birmingham, Alabama Received INTERSTATE BANK AND BANK HOLDING COMPANY ACQUISITIONS/MERGERS DATE DESCRIPTION ACTION 03-15-05 Union Planters Bank, National Association, Memphis, Tennessee to merge Received with and into Regions Bank, Birmingham, Alabama 04-13-05 Peoples Community Bank, Columbia, Alabama merged with and into Peoples Effected Community Bank, Colquitt, Georgia ACQUISITIONS DATE BANK/LOCATION ACTION 04-22-05 Regions Bank, Birmingham, Alabama Acquired Certain Branches of Union Effected Planters Bank, National Association, Memphis, Tennessee BANK MERGERS DATE BANK TO MERGE WITH ACTION 04-13-05 First Citizens Bank First American Bank Approved Talladega, Alabama Birmingham, Alabama BRANCH APPLICATIONS BANK BRANCH LOCATION ACTION DATE 01-03-05 First Bank 8569 US Highway 431 Opened Wadley, Alabama Heflin, Alabama 03-21-05 Metro Bank 2325 Highway 77 Opened Pell City, Alabama Southside, Alabama 03-30-05 The Peoples Bank & Trust 401 19th Street North, Suite 111 Approved Company Bessemer, Alabama Selma, Alabama 03-30-05 The Peoples Bank & Trust Two Perimeter Park South, Suite 440 Approved Company West Selma, Alabama Birmingham, Alabama 03-30-05 The Peoples Bank & Trust 1784 Taliaferro Trail Approved Company Montgomery, Alabama Selma, Alabama 03-30-05 The Peoples Bank & Trust 7167 Highway 22 North Approved Company Valley Grande, Alabama Selma, Alabama 2 04-04-05
    [Show full text]