Federal Reserve Release

H.2

Actions of the Board, Its Staff, 

and the Federal Reserve Banks; 

Applications and Reports Received

No. 48

Week Ending November 28, 1998

Board of Governors of the Federal Reserve System, Washington, DC 20551
H.2 Board Actions November 22, 1998 to November 28, 1998

Bank Holding Companies

Credit Suisse, Zurich, Switzerland -- application to establish three representative 

offices in the United States.

- Approved, November 23, 1998 

Skandinaviska Enskilda Banken, Stockholm, Sweden -- request for a temporary 

exemption under section 4(c)(9) of the Bank Holding Company Act to engage 

indirectly in certain nonbanking activities in the United States.

- Approved, November 23, 1998 

Susquehanna Bancshares, Inc., Lititz, Pennsylvania -- to acquire Cardinal Bancorp, 

Inc., Everett, Pennsylvania, and First American National Bank of Pennsylvania.

- Approved, November 23, 1998 

International Operations

State Street Bank and Trust Company, Boston, Massachusetts -- to invest an amount 

in excess of 10 percent of its capital and surplus in its Edge corporations.

- Approved, November 23, 1998 

Regulations And Policies

Loan loss reserves -- joint statement with the Securities and Exchange Commission, 

Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, 

and Office of Thrift Supervision on the allowances for loan loss reserves of 

depository institutions.

- Published, November 24, 1998 

Regulation D -- final rule implementing the annual adjustment of the low reserve 

tranche and reserve requirement exemption and announcing the deposit reporting 

cutoff levels for 1999 (Docket No. R-1026).

- Approved, November 19, 1998 (AC)

Regulation Y -- final rule to exempt from appraisal requirements transactions 

involving the underwriting of or dealing in mortgage-backed securities by section 20 

subsidiaries of bank holding companies (Docket No. R-0990).

- Approved, November 19, 1998 (AC)

Rules Regarding Delegation of Authority -- final rule to revise and expand the 

delegations of authority to the Director of Division of Consumer and Community 

Affairs (Docket No. R-1025).

- Approved, November 18, 1998 (AC)

(AC) = Addition or Correction Board - Page 1 of 1
November 22, 1998 to November 28, 1998

BS&R

C&CA

FOMC

RBOPS

IF

OSDM

Banking Supervision and Regulation

Consumer and Community Affairs

Federal Open Market Committee

Reserve Bank Operations and Payment

International Fiance

Office of Staff Director for Management

H.2 Actions under delegated authority

Bank Branches, Domestic

Colonial Bank, Montgomery, Alabama -- to establish a branch at 2000 Ponce De 

Leon Boulevard, Coral Gables, Florida.

- Approved, November 23, 1998 

Atlanta

Compass Bank, Birmingham, Alabama -- to establish a branch at 10 Spring Street, 

Georgetown, Texas.

- Approved, November 24, 1998 

Secretary

European American Bank, Uniondale, New York -- to establish a branch at 1487 

Southern Boulevard, Bronx, New York.

- Approved, November 25, 1998 

New York

Fifth Third Bank, Cincinnati, Ohio -- to establish a branch at 1235 Columbus 

Avenue, Lebanon, Ohio.

- Approved, November 19, 1998 (AC)

Cleveland

Killbuck Savings Bank Company, Killbuck, Ohio -- to establish a branch on West 

Main Street near the intersection of Route 39, Sugarcreek, Ohio.

- Approved, November 19, 1998 (AC)

Cleveland

Bank Holding Companies

American Financial Group, Inc., Cincinnati, Ohio, and Provident Bancorp, Inc. -- 

modification of certain commitments.

- Approved, November 24, 1998 

Director, BS&R

(AC) = Addition or Correction Delegated - Page 1 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Bank Holding Companies

Clarkston Financial Corporation, Clarkston, Michigan -- to acquire Clarkston State 

Bank.

- Approved, November 23, 1998 

Chicago

Comerica Incorporated, Detroit, Michigan -- to establish Comerica Equities, Inc., 

and engage in acting as general partner for an investment partnership.

- Approved, November 23, 1998 

Chicago

Gateway American Bancshares, Inc., Ft. Lauderdale, Florida -- to acquire Gateway 

American Bank of Florida.

- Approved, November 27, 1998 

Atlanta

Henderson Citizens Bancshares, Inc., Henderson, Texas, and Henderson Citizens 

Delaware Bancshares, Inc., Dover, Delaware -- to acquire Jefferson National Bank, 

Jefferson, Texas.

- Approved, November 25, 1998 

Dallas

Marquette Bancshares, Inc., Minneapolis, Minnesota -- to acquire C.A.S. 

Corporation, Oelwein Bancorporation, Wisconsin Financial Bancorporation, Inc., 

and The Farmers and Mechanics Bank, Galesburg, Illinois.

- Approved, November 25, 1998 

Minneapolis

Nixon Bancshares, Inc., Nixon, Texas, and Nixon Delaware Bancshares, Inc., Dover, 

Delaware -- to acquire Nixon State Bank, Nixon.

- Approved, November 25, 1998 

Dallas

PAB Bankshares, Inc., Valdosta, Georgia -- to merge with Eagle Bancorp, Inc., 

Statesboro, Georgia, and acquire Eagle Bank and Trust Company.

- Approved, November 24, 1998 

Atlanta

(AC) = Addition or Correction Delegated - Page 2 of 9
H.2 Actions under delegated authority November 15, 1998 to November 21, 1998

Bank Holding Companies

PNC Bank Corp., Pittsburgh, Pennsylvania -- to acquire Hilliard-Lyons, Inc., 

Louisville, Kentucky.

- Approved, November 20, 1998 (AC)

Cleveland

Red River Bancshares, Inc., Alexandria, Louisiana -- to acquire Red River Bank.

- Approved, November 27, 1998 

Atlanta

Reedsburg Bancorp, Inc., Reedsburg, Wisconsin -- to acquire Reedsburg Bank.

- Approved, November 25, 1998 

Chicago

Superior Financial Holding Corporation, Minneapolis, Minnesota -- to acquire 

Commercial State Bancorporation, Two Harbors, Minnesota, and Commercial State 

Insurance Agency, Inc., and engage in general insurance agency activities in a town 

with a population of less than 5000 and in extending credit and servicing loans.

- Withdrawn, November 27, 1998 

Minneapolis

Susquehanna Bancshares, Lititz, Pennsylvania -- to acquire First Capitol Bank, York, 

Pennsylvania.

- Approved, November 23, 1998 

Philadelphia

Texas Country Bancshares, Inc., Brady, Texas, and TCB Delaware, Inc., Dover, 

Delaware -- to acquire Knox City Bancshares, Inc., Knox City, Texas, and Citizens 

Bank.

- Approved, November 25, 1998 

Dallas

Wells Fargo & Company, San Francisco, California -- to acquire Metropolitan 

Bancshares, Inc., Aurora, Colorado.

- Approved, November 25, 1998 

San Francisco

(AC) = Addition or Correction Delegated - Page 3 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Bank Holding Companies

Wells Fargo & Company, San Francisco, California; Norwest Financial Services, 

Inc., Des Moines, Iowa; and Norwest Financial, Inc. -- to acquire Mid-Penn 

Consumer Discount Co., Philadelphia, Pennsylvania, and continue to engage in 

lending activities.

- Approved, November 27, 1998 

San Francisco

Bank Mergers

Farmers and Merchants Bank, Hannibal, Missouri -- to merge with F&M Interim 

Bank.

- Approved, November 25, 1998 

St. Louis

Pinnacle Bank, St. Joseph, Michigan -- to merge with Citizens National Bank of 

Evansville, Evansville, Indiana; Citizens Bank of Southern Indiana, Tell City; Citizens 

Bank of Western Indiana, Terre Haute; Citizens Bank of Kentucky, Madisonville, 

Kentucky; Citizens Bank of Central Indiana, Greenwood, Indiana; and Citizens Bank 

of Illinois, N.A., Mount Vernon, Illinois, and establish 102 branches.

- Approved, November 25, 1998 

Chicago

Banks, State Member

First Illinois Bank, East St. Louis, Illinois -- payment of a dividend.

- Approved, November 23, 1998 

St. Louis

Capital Stock

MidCity Financial Corporation, Chicago, Illinois -- redemption of shares.

- Returned, November 24, 1998 

Chicago

Change In Bank Control

Citizens State Bank of Arlington, Arlington, South Dakota -- change in bank control.

- Permitted, November 23, 1998 

Minneapolis

(AC) = Addition or Correction Delegated - Page 4 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Competitive Factors Reports

American Independent Bank, N.A., Gardena, California -- report on competitive 

factors of the proposed merger with First Coastal Bank, N.A., El Segundo, 

California.

- Submitted, November 24, 1998 

San Francisco

Androscoggin Savings Bank, Lewiston, Maine -- report on competitive factors of the 

proposed merger with Livermore Falls Trust Company, Livermore Falls, Maine.

- Submitted, November 25, 1998 

Boston

Apple River State Bank, Apple River, Illinois -- report on competitive factors of the 

proposed acquisition of the assets and assumption of the liabilities of the Warren, 

Illinois, branch of Grand National Bank, Wauconda, Illinois.

- Submitted, November 27, 1998 

Chicago

Bank of Maryland, Towson, Maryland -- report on competitive factors of the 

proposed merger with Sterling Bank & Trust Co., Baltimore, Maryland.

- Submitted, November 23, 1998 

Richmond

Bank of Orange County, Fountain Valley, California -- report on competitive factors 

of the proposed merger with CFB Merger Company, Newport Beach, California.

- Submitted, November 24, 1998 

San Francisco

Citizens State Bank, Lena, Illinois -- report on competitive factors of the proposed 

purchase of the Stockton, Illinois, branch of Grand National Bank, Wauconda, 

Illinois.

- Submitted, November 27, 1998 

Chicago

Community Bank of Memphis, Memphis, Missouri -- report on competitive factors 

of the proposed purchase of the assets and assumption of the liabilities of the 

Memphis, Missouri, branch of Missouri Federal Savings Bank, Cameron, Missouri.

- Submitted, November 24, 1998 

St. Louis

(AC) = Addition or Correction Delegated - Page 5 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Competitive Factors Reports

Cones State Bank, Pierce, Nebraska -- report on competitive factors of the proposed 

merger with Plainview National Bank, Plainview, Nebraska; American National 

Bank, Creighton; Farmers National Bank, Pilger; and Nebraska Security Bank, 

Deshler.

- Submitted, November 23, 1998 

Kansas City

Continental National Bank, El Paso, Texas -- report on competitive factors of the 

proposed merger with First National Bank, Denver City, Texas.

- Submitted, November 24, 1998 

Dallas

First Federal Lincoln Bank, Lincoln, Nebraska -- report on competitive factors of the 

proposed merger with First Federal Lincoln Bank - Iowa, Council Bluffs, Iowa.

- Submitted, November 23, 1998 

Kansas City

First State Bank Shannon-Polo, Shannon, Illinois -- report on competitive factors of 

the proposed acquisition of the assets and assumption of the liabilities of the Polo, 

Illinois, branch of Grand National Bank, Wauconda, Illinois.

- Submitted, November 27, 1998 

Chicago

Household Bank (Nevada), N.A., Las Vegas, Nevada -- report on competitive 

factors of the proposed purchase of the assets and assumption of the liabilities of 

Household Bank (Illinois), N.A., Prospect Heights, Illinois.

- Submitted, November 24, 1998 

San Francisco

Interim Altamaha Bank, Uvalda, Georgia -- report on competitive factors of the 

proposed merger with Altamaha Bank & Trust Company.

- Submitted, November 25, 1998 

Atlanta

(AC) = Addition or Correction Delegated - Page 6 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Competitive Factors Reports

Marlborough Bancorp, Marlborough, Massachusetts -- report on competitive factors 

of the proposal to become a mutual holding company through the reorganization of 

Marlborough Co-operative Bank.

- Submitted, November 24, 1998 

Boston

Merchants National Bank of Aurora, Aurora, Illinois -- report on competitive factors 

of the proposed merger with Fox Valley Bank, St. Charles, Illinois, and Hinckley 

State Bank, Hinckley, Illinois.

- Submitted, November 27, 1998 

Chicago

Old Second National Bank of Aurora, Aurora, Illinois -- report on competitive 

factors of the proposed merger with Old Second Community Bank of Aurora and 

Old Second Community Bank of North Aurora, North Aurora, Illinois.

- Submitted, November 27, 1998 

Chicago

Pennsylvania National Bank and Trust Company, Pottsville, Pennsylvania -- report 

on competitive factors of the proposed purchase of certain assets and assumption of 

certain liabilities of Keystone Bank National Association, Horsham, Pennsylvania, 

with a name change to Keystone Financial Bank, National Association.

- Submitted, November 23, 1998 

Philadelphia

Pontiac National Bank, Pontiac, Illinois -- report on competitive factors of the 

proposed merger with Home Guaranty Bank, S.B., Piper City, Illinois.

- Submitted, November 27, 1998 

Chicago

Union Planters Bank, N.A., Memphis, Tennessee -- report on competitive factors of 

the proposed purchase of certain assets and assumption of certain liabilities of 55 

Indiana branches of NBD Bank, N.A., Indianapolis, Indiana.

- Submitted, November 24, 1998 

St. Louis

(AC) = Addition or Correction Delegated - Page 7 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Competitive Factors Reports

Vectra Bank Colorado, N.A., Denver, Colorado -- report on competitive factors of 

the proposed merger with Centennial Saving Bank, F.S.B., Durango, Colorado, and 

Centennial Saving Bank, F.S.B., Farmington, New Mexico.

- Submitted, November 23, 1998 

Kansas City

Extensions Of Time

Citizens Financial Corporation, Chicago, Illinois -- extension to February 27, 1999, 

to acquire Citizens Bank & Trust Company of Chicago.

- Granted, November 25, 1998 

Chicago

M&T Bank Corporation, Buffalo, New York, and Olympia Financial Corp. -- 

extension to November 27, 1999, to hold shares in GWI Holding, Inc., Rensselaer, 

New York.

- Granted, November 23, 1998 

New York

Yellowstone Bank, Laurel, Montana -- extension to November 25, 1999, to establish 

a branch at the southwest corner of Main and Airport Road, Billings, Montana.

- Granted, November 25, 1998 

Minneapolis

Membership

Desert Community Bank, Victorville, California -- to become a member of the 

Federal Reserve System.

- Approved, November 24, 1998 

San Francisco

Pinnacle Bank, St. Joseph, Michigan -- to become a member of the Federal Reserve 

System.

- Approved, November 25, 1998 

Chicago

(AC) = Addition or Correction Delegated - Page 8 of 9
H.2 Actions under delegated authority November 22, 1998 to November 28, 1998

Membership

Red River Bank, Alexandria, Louisiana -- to become a member of the Federal 

Reserve System.

- Approved, November 27, 1998 

Atlanta

United Security Bank, N.A., Fresno, California -- to retain membership in the Federal 

Reserve System on conversion from a national to a state bank charter.

- Approved, November 24, 1998 

San Francisco

(AC) = Addition or Correction Delegated - Page 9 of 9
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs of

the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the

Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation was

revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire community

be evaluated periodically. That record is taken into account in considering an institution's application for deposit

facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 2

Federal Reserve Bank of New York

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

FBSEA Banco de la Ciudad de Buenos Aires, Buenos Aires, Argentina,

to establish a representative office in New York, New York.

Newspaper – N/Avail

FBSEA Moscow Narodny Bank, London, England, to establish a

representative office in New York, New York.

Newspaper – N/Avail

FBSEA KBC Bank N.V., Brussels, Belgium, to establish a branch in

New York, New York, an agency in Atlanta, Georgia, and a

representative office in Los Angeles, California.

Newspaper – N/Avail

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 3

Federal Reserve Bank of Philadelphia

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

18(c) U.S. Bank, Johnstown, PA, to acquire two branches from

First Western Bank, National Association, New Castle, PA,

located at 103 Tenth Street, Barnesboro,Cambria County,

PA, and 104 South Center Street, Ebensburg, Cambria

County, PA

N/Avail

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 4

Federal Reserve Bank of Cleveland

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

CIC

CIC

3(a)(5)

Received notice from the Grffin Family et al on 11/23/1998 of

their intent to retain ownership of 26.53 percent of the

outstanding voting shares of Cumberland Valley Financial

Corporation, London, KY.*

Received notice from the Greer Family et al on 11/23/1998 of

their intent to retain ownership of 39.76 percent of the

outstanding voting shares of Cumberland Valley Financial

Corporation, London, KY.*

Received application from Premier Financial Bancorp, Inc.,

Georgetown, KY on 11/19/1998 to acquire Mt. Vernon

Bancshares, Inc., Mt. Vernon, KY.*

N/Avail

N/Avail

Fed Reg – 12/21/1998

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

4(c)(8) Received notice from Mellon Bank Corporation, Pittsburgh, PA

on 11/23/1998 of its intent to engage de novo in permissible

expanded securities activities.

N/Avail
Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

3(a)(1) Received notice from Madison Financial Corporation,

Richmond, KY on 11/19/1998 to acquire Madison Bank,

Richmond, KY.

Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Rockingham Heritage Bank, Harrisonburg, Virginia, to

establish a branch at Wellington Plaza, Jefferson Davis

Highway, Waynesboro, Virginia.*

12/13/1998

*Subject to the provisions of the Community Reinvestment Act.

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

1400157 Bank of Mecklenburg

2000 Randolph Road

Charlotte, North Carolina 28207

09/14/1998 11/28/98 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 6

Federal Reserve Bank of Atlanta

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Peoples Bank & Trust Company, Selma, Alabama, to establish a

branch located at 1431 Gateway Drive, Opelika, Alabama.

12/12/1998*

Branch First Community Bank, Orange City, Florida, to establish a

branch located on a tract of land fronting the west side of U.S.

HWY 17-92 right of way line and also fronting and adjoining

the north side of a proposed 33’ wide road right of way, running

South 89 degrees, 09 minutes and 11 seconds East, and centered

at the median crossover located at the intersection of Old

Daytona Road, DeLand, Florida. Address to be given later.

12/16/1998*

Branch Republic Security Bank, West Palm Beach, Florida, to establish

a branch located at 1735 N.E. Pine Island Road, North Cape

Coral, Florida.

12/05/1998*

Branch SunTrust Bank, North Central Florida, Ocala, Florida, to

establish a branch located at 6801 Southeast Maricamp Road,

Ocala, Florida, to be known as the Silver Springs Shores Office.

11/27/1998*

*Subject to provisions of the Community Reinvestment Act

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(1) EBA Bancshares, Inc., Opelika, Alabama, to become a bank

holding company by acquiring Eagle Bank of Alabama, Opelika,

Alabama.

N/Avail

CIC Peoples Bankshares, Inc., Eatonton, Georgia, prior change in

control notification by The Harvey Wilson Family, Eatonton,

Georgia (to be known as the Piedmont Family Limited

Partnership), to acquire 63 percent of the outstanding shares of

Peoples Bankshares, Inc., Eatonton, Georgia. Total ownership

will be 63 percent.

N/Avail
Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(1) Synergy Bancshares, Inc., Houma, Louisiana, to become a bank

holding company by acquiring Synergy Bank, Houma,

Louisiana (in organization).

N/Avail

3(a)(3) First Bancshares, Inc., Hattiesburg, Mississippi, to acquire First

National Bank of the Pine Belt, Laurel, Mississippi

(in organization).

N/Avail

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

1224906 Provident Bank of Florida

1549 Ringling Boulevard

Sarasota, Florida 34236

(941) 954-5700

08/17/1998 11/25/1998 O X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 7

Federal Reserve Bank of Chicago

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch F&M Bank-Algoma

Algoma, Wisconsin

 1426 Egg Harbor Road

 Sturgeon Bay, Wisconsin

Newspaper – 12/21/1998

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(3) Peotone Bancorp, Inc.*

Peotone, Illinois

 Bank of the San Juans

 Durango, Colorado

Fed Reg – 12/11/1998

Newspaper – 12/7/1998

3(a)(3) Southwest Bancorp, Inc.*

Worth, Illinois

 Bank of the San Juans

 Durango, Colorado

Fed Reg – 12/11/1998

Newspaper – 12/7/1998

CIC Goodenow Bancorporation

Okoboji, Iowa

 By Sara J. Blum

Fed Reg – 11/27/1998

Newspaper – 12/1/1998

CIC Goodenow Bancorporation

Okoboji, Iowa

 By Stephen J. Goodenow

Fed Reg – 11/27/1998

Newspaper – 12/1/1998

3(a)(3) Bancorp of Rantoul, Inc.*

Rantoul, Illinois

 Rossville Bancorp, Inc.

 Rossville, Illinois

 First National Bank of Rossville

 Rossville, Illinois

Fed Reg – N/Avail

Newspaper – N/Avail

* Subject to the provisions of the Community Reinvestment Act
Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None

Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

975845 Security State Bank

117 S. Central Ave

Hartley, Iowa 51346-1412

8/24/1998 11/24/1998 S x
Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 8

Federal Reserve Bank of St. Louis

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch *Notice by Bank of Mulberry, Mulberry, Arkansas, to establish

a branch office at the corner of Second and Ringo Streets (1012

West 2nd Street), Little Rock, Arkansas.

11/23/1998

* Subject to the provisions of the Community Reinvestment Act

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(1) *Notice by Barret Bancorp, Inc., Barretville, Tennessee, to

acquire Barretville Bank & Trust Company, Barretville,

Tennessee, and Somerville Bank & Trust Company, Somerville,

Tennessee.

Newspaper – 12/21/1998

Fed Reg – 12/21/1998

3(a)(3) *Notice by First Security Bancorp, Inc., Searcy, Arkansas, to

acquire Baxter County Bancshares, Inc., Mountain Home,

Arkansas.

Newspaper – 12/7/1998

Fed Reg – 12/7/1998

3(a)(3) *Notice by Area Bancshares Corporation, Owensboro,

Kentucky, to retain its indirect ownership of Alliance Bank,

FSB, Somerset, Kentucky, upon its conversion from a federal

savings bank to a state chartered commercial bank with the

name of Alliance Bank. A companion Section 3(a)(3) notice

accompanies this notice.

Newspaper – 12/20/1998

Fed Reg – 12/24/1998

3(a)(3) *Notice by Cardinal Bancshares, Inc., Lexington, Kentucky, a

wholly owned subsidiary of Area Bancshares Corporation,

Owensboro, Kentucky, to retain its direct ownership of Alliance

Bank, FSB, Somerset, Kentucky, upon its conversion from a

federal savings bank to a state chartered commercial bank with

the name of Alliance Bank. A companion Section 3(a)(3) notice

accompanies this notice.

Newspaper – 12/20/1998

Fed Reg – 12/24/1998

* Subject to the provisions of the Community Reinvestment Act
Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

Member Notice by One National Bank (to be renamed One Bank &

Trust), Little Rock, Arkansas, to become a state chartered

member of the Federal Reserve System.

Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 9

Federal Reserve Bank of Minneapolis

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(3) Osceola Bancorporation, Inc., Osceola, Wisconsin, for prior

approval to acquire 100% of the voting shares of Chisago

Bancorporation, Inc., Chisago City, Minnesota.*

*Subject to the provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 10

Federal Reserve Bank of Kansas City

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Eaton Bank, Eaton, Colorado, to establish a branch at 802 West

Drake Road, Fort Collins, Colorado.

Newspaper – 11/23/98

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(3) Ace Gas, Deshler, Nebraska, for prior approval to acquire 100

percent of the voting shares of Junction City First National Co.,

Junction City, Kansas; and thereby indirectly acquire First

National Bank, Junction City, Kansas.

Newspaper – N/Avail

Fed Reg – 12/21/1998

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

3(a)(1) First American Bancorp, Inc., Greenwood Village, Colorado, to

become a bank holding company through the reorganization of

100 percent of the voting shares of First American State Bank,

Greenwood Village, Colorado.

Member Bank of Nichols Hills, Oklahoma City, Oklahoma, for

membership in the Federal Reserve System.
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 11

Federal Reserve Bank of Dallas

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(5) Diboll State Bancshares, Inc., Diboll, TX, and Diboll State

Bancshares of Delaware, Inc., Wilmington, DE, to merge with

First Bancorporation of Cleveland, Inc., Cleveland, TX, and

thereby indirectly acquire First Cleveland Delaware Financial

Corporation, Dover, DE, and First Bank & Trust, Cleveland,

TX*

Fed Reg – 12/07/1998

Newspaper – 12/12/1998

* Subject to the Provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

None
Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

259657 United Central Bank

4555 West Walnut

Garland, TX 75042

08/17/1998 11/28/1998 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 12

Federal Reserve Bank of San Francisco

Applications and notifications filed during the week ending Saturday, November 28, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Santa Barbara Bank & Trust, Santa Barbara, California, to

establish a mobile branch office to serve the counties of Ventura,

Santa Barbara, and San Luis Obispo, in the state of California. *

Newspaper – 11/25/1998

18(c) Southern California Bank, Newport Beach, California, to

acquire by merger Pacific National Bank, Newport Beach,

California. *

Newspaper – 12/26/1998

* Subject to the provisions of the Community Reinvestment Act

Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

4(c)(8) Philippine Commercial International Bank, Manila, Philippines,

to engage in money remittance activities through its subsidiary,

PCI Express Padala (Hawaii), Honolulu, Hawaii.

Fed Reg – 12/07/1998

4(c)(8) First Security Corporation, Salt Lake City, Utah, to engage in

section 20 nonbank activities through the acquisition of Van

Kasper & Company, San Francisco, California.

Fed Reg – N/Avail
Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

3(a)(5)(C) Umpqua Holdings Corporation to become a bank holding

company by acquiring South Umpqua State Bank, both of

Roseburg, Oregon.

3(a)(5)(C) People’s Utah Bancorp to become a bank holding company by

acquiring Bank of American Fork, both of American Fork, Utah.

Section V – Availability of CRA public evaluations

The Community Reinvestment Act is intended to encourage depository institutions to help meet the credit needs

of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted

by the Congress in 1977 (12 U.S.C. 2901) and is implemented by Regulation BB (12 CFR 228). The regulation

was revised in May 1995.

The CRA requires that each depository institution's record in helping meet the credit needs of its entire

community be evaluated periodically. That record is taken into account in considering an institution's application

for deposit facilities.

A copy of an institution's CRA evaluation may be obtained directly from the institution or Reserve Bank.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

The following state member banks have been examined and their CRA public evaluations are now available.

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None