H.2 Actions of the Board, Its Staff, and the Federal Reserve Banks
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ft # ANNOUNCEMENT BY BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM (H.Z, 5983 No. 25) Actions of the Board; Applications and Reports Received During the Week Ending June 25, 1983 APPLICABLE RESERVE BANK ACTIONS OF THE BOARD Regulation 0 amendment, the Board took two final actions and issued a new proposal for comment in connection with bankers' acceptances; one of the final actions was an amendment to Regulation D, dealing with the reservability of ineligible acceptances; the other final action and the draft regulation issued for comment related to bankers' acceptances under the Bank Export Services Act. (Docket No. R-0451, R-0453, and R-0474) Statement by Theodore E. Allison, Staff Director for Federal Reserve Bank Activities, before the Senate Banking Committee to convey the Federal Reserve's endorsement of a bill that would authorize the Bureau of Engraving and Printing to print the back of the one-dollar note by the offset process, Philadelphia Penns Woods Bancorp, Inc., Jersey Shore, Pennsylvania, extension of time to September 18, 1983, within which to become a bank holding company through the acquisition of 100 percent of the voting shares of Jersey Shore State Bar*, Jersey Shore, Pennsylvania. V Philadelphia Citizens National Bank of Slatington, Slatington, Pennsylvania, proposal to merge with CNBS National Bank, Slatington, Pennsylvania, under the charter of the latter and with the title of the former: report to the Comptroller of the Currency on competi t ive factors. V Cleveland Union National Corporation, Mt. Lebanon, Pennsylvania, extension of time to November 17, 1983 in which to acquire The McDowell National Bank of Sharon, Sharon, Pennsylvania. 1/ T7 Application processed on behalf of the Board of Governors under — delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis # # H.2, 3983 No. 25 - 2 ACTIONS OF THE BOARD - Continued Cleveland Citizens State Bank, Silverton, Ohio, an investment in bank premises. V Cleveland Termination of registration for Century Federal Savings and Loan Association, Pittsburgh, Pennsylvania. V Atlanta Cohutta Banking Company, Chatsworth, Georgia, proposed merger with Walker County Bank, Lafayette, Georgia; report to the Federal Deposit Insurance Corporation on competitive factors. V Atlanta Ardmore Bancshares, Inc., Ardmore, Tennessee, extension of time to September 30, 1983, within which to become a bank holding company through acquisition of Bank of Ardmore, Ardmore, Tennessee. V Atlanta Citizens and Southern National Bank Savannah, Georgia, proposed merger with National Bank of Fitzgerald, Fitzgerald, Georgia; report to the Comptroller of the Currency on competitive factors, y Atlanta First Citizens Bancorp of Cherokee County, Inc., Ball Ground, Georgia, extension of time to August 31, 1983, within which to become a bank holding company through the acquisition of the Citizens Bank, Ball Ground, Georgia. V Atlanta Northeast Georgia Bank, Lavonia, Georgia, proposed merger with First Securities Interim, Inc., Lavonia, Georgia; report to the Federal Deposit Insurance Corporation on competitive factors. 1/ Atlanta Ellis National Bank of Pineal las County, St. Petersburg, Florida, proposed merger with Ellis Bank of Indian Rocks, Indiana Rocks Beach, Florida report to the Comptroller of the Currency on competitive factors. J/ Atlanta First National Bank in Waycross, Waycross, Georgia, proposed merger with First Interim National Bank in Waycross, Waycross, Georgia; report to the Comptroller of the Currency on competitive factors. V Chicago State and Savings Bank, Monticello, Indiana, proposed merger with Whitco Bank, Monticello, Indiana, under the charter of Whitco Bank and title of State and Savings Bank; report to the Federal Deposit Insurance Corporation on competitive factors. V T7 Application processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2, 1983 No. 25 - 3 - ACTIONS OF THE BOARD - Continued Chicago Union Bank and Trust Company, Greensburg, Indiana, proposed merger with U B T Bank and Trust Company, Greensburg, Indiana, under the charter of U B T Bank and Trust Company and title of Union Bank and Trust Company of Greensburg; report to the Federal Deposit Insurance Corporation on competitive factors. J/ Chicago Countryside Bank, Mount Prospect, Illinois, proposed merger with CSB Bank, Mount Prospect, Illinois, under the charter of CSB Bank and title of Country- side Bank; report to the Federal Deposit Insurance Corporation on competitive factors. J_/ Chicago Americorp Financial, Inc., Rock ford, Illinois, extension of time to July 29, 1983, within which to become a bank holding company through the acquisition of 100 percent of the voting shares of American National Bank and Trust Co., Rockford; Colonial Bank of Rock ford; First National Bank of Woodstock; and Carpentersville Savings Bank, Carpentersville, Illinois, _]/ St. Louis Bank of Adamsville, Adamsville, Tennessee, proposed merger with The BOA Interim Bank, Adamsville, Tennessee; report to the Federal Deposit Insurance Corporation on competitive factors, jj/ St. Louis First National Bank of Carmi, Carmi, Illinois, proposed merger with F. C. National Bank, Carmi, Illinois, an interim bank; report to the Comptroller of the Currency on competitive factors. V St. Louis Litchfield Bank and Trust Company, Litchfield, Illinois, proposal to merge with LBT State Bank, Litchfield, Illinois, an interim bank; report to the Federal Deposit Insurance Corporation on competitive factors. J_/ Dal las United bank-Metro, Houston, Texas, proposed merger with New Unitedbank-Metro, Houston, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. J/ Dal las Lexington State Bank, Lexington, Texas, proposed merger with New Lexington State Bank, Lexington, Texas; report to the Federal Deposit Insurance Corporation on com- petitive factors. 1/ 77 Application processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2, 1983 No. 25 - 4 - ACTIONS OF THE BOARD - Continued Dal las Texas Commerce Bancshares, Inc., Houston, Texas, extension of time to August 1, 1983, within which to acquire Lockwood National Bank of Houston, Houston, Texas. V San Valle Bank of Nevada, Las Vegas, Nevada, extension of Francisco time to January 22, 1983, within which to establish a branch in Minden, Nevada. J7 San Valley of the Rogue Bank, Rogue River, Oregon, proposed F ranci sco merger with Valley of the Rogue Interim Bank, Rogue River, Oregon, under the charter and title of the former; report to the Federal Deposit Insurance Corporation on competitive factors. J/ San Carmel Bancorporation, Carmel, California, extension Francisco of time to October 7, 1983, within which to become a bank holding company through the acquisition of the successor by merger to National Bank of Carmel, Carmel, California. 1/ T7 Application processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H.2, 1983 No. 25 - 5 - ACTIONS OF THE BOARD - Continued To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act Approved New York Central Trust Company, Rochester, New York. To establish 28 offsite electronic facilities in New York State. V Richmond The Community Bank, Petersburg, Virginia. To establish a branch at 2000 Snead Avenue, Colonial Heights, Virginia. V Chicago Isabella Bank and Trust, Mount Pleasant, Michigan. To establish a branch at 139 Broadway, Mount Pleasant, Michigan, ty ***** Issued Intent Not To Disapprove Change of Control Pursuant to Change in Bank Control Act of 1978 Not Disapproved Richmond Valley Bank and Trust Company, Bluefield, West Virginia. V Richmond First VINB Corporation, Washington, D.C. V St. Louis National Bancshares Corporation, Pine Bluff, Arkansas. 1/ Dallas Continental National Bancshares, Inc., El Paso, Texas. 1/ T7 Application processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis n, . 1 „ 'to, /: - 6 - AC HONS uf THE BOARD - Continued U Merge Pursuant to Section 18(c) of the federal Deposit Insurance Act Approved * rfVdlk>; IS Western Bank, Sioux Falls, South Dakota, to acquire certain assets and assume substantially all the liabilities of Community Bank, Hartford, South Dakota. V _ "and The Genoa Banking Company, Genoa, Ohio, to merge with Ottawa County Banking Company, Genoa, Ohio. V !g Become a Member of the Federal Reserve System Pursuant to Section 9 of the Federal Reserve Act Approved C.eveSand Ottawa County Banking Company, Genoa, Ohio. Api>: teat ions and Notifications for International Investments and Other Actions Pursuant to Sections 25 and 26(a) of the Federal Reserve Act and Sections 4(c)(9), 4(c)(13) and 4(c)(14) of the Bank Holding Company Act of 1956, as amended Approved New ifork Citibank International, Miami, Florida: to estab- lish and operate a branch at the San Francisco International Airport, San Francisco, California. (6/27/83) V San BankAmerica Corporation, San Francisco, California, r„nc"sco for approval to acquire Seafirst Overseas Finance Corporation, Curacao, Netherlands Antilles. T? Application processed on behalf of the Board of Governors under delegated authority. Digitized for FRASER http://fraser.stlouisfed.org/ Federal