Board of Governors of the Federal Reserve System, Washington, DC 20551

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 47

Week Ending November 22, 1997

Federal Reserve Release

H.2

Applications and Reports Received
No. 47

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Challenge to put social security on a sound financial footing for the twenty first

century -- statement by Chairman Greenspan before the Task Force on Social

Security of the Senate Committee on the Budget.

- Published, November 20, 1997 

TESTIMONY AND STATEMENTS

Budget -- for l998 through l999.

- Approved, November 19, 1997 

BOARD OPERATIONS

Office of Inspector General -- budget for 1998 through 1999.

- Approved, November 19, 1997 

Regulation Z -- amendments to incorporate changes made by statutory amendments

regarding certain variable-rate mortgage disclosures (Docket R-0960).

- Approved, November 17, 1997 

REGULATIONS AND POLICIES

Putnam-Greene Financial Corporation, Eatonton, Georgia -- cease and desist order.

- Announced, November 17, 1997 

ENFORCEMENT
H.2

November 16, 1997 to November 22, 1997

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; RBOPS - Reserve Bank Operations and Payment

Systems; IF - International Finance; OSDM - Office of Staff Director for Management

Chase Manhattan Bank, New York, New York -- to establish a branch at 258

Genesee Street, Utica, New York.

- Approved, November 18, 1997 

BANK BRANCHES, DOMESTIC

New York

Citizens Deposit Bank and Trust Company, Vanceburg, Kentucky -- to establish a

branch at HC 73 Box 20.

- Approved, November 21, 1997 

Cleveland

Fifth Third Bank of Northwestern Ohio, Dayton, Ohio -- to establish a branch at

2989 Derr Road, Springfield, Ohio.

- Approved, November 21, 1997 

Cleveland

First Banking Center-Burlington, Burlington, Wisconsin -- to establish a branch at

Park Street, Lake Geneva, Wisconsin.

- Approved, November 21, 1997 

Chicago

First Security Bank of Nevada, Las Vegas, Nevada -- to establish a branch at 900

North Green Parkway, Henderson, Nevada.

- Approved, November 21, 1997 

San Francisco

Pitkin County Bank & Trust Company, Aspen, Colorado -- to establish a branch at

110 Midland Avenue, Basalt, Colorado.

- Approved, November 21, 1997 

Kansas City
H.2

November 16, 1997 to November 22, 1997

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Yellowstone Bank, Laurel, Montana -- to establish a branch at 3010 3rd Avenue

North, Billings, Montana.

- Approved, November 21, 1997 

Minneapolis

Amcore Financial, Inc., Rockford, Illinois -- to acquire Investors Management

Group, Ltd., Des Moines, Iowa, and IMG Financial Services, Inc., and engage in

acting as an investment or financial advisor.

- Permitted, November 19, 1997 

BANK HOLDING COMPANIES

Chicago

ANB Bancshares of Delaware Inc., Wilmington, Delaware -- to acquire Anahuac

National Bank, Anahuac, Texas.

- Approved, November 19, 1997 

Dallas

ANB Bancshares, Inc., Anahuac, Texas -- to acquire ANB Bancshares of Delaware

Inc., Wilmington, Delaware, and Anahuac National Bank.

- Approved, November 19, 1997 

Dallas

BankAmerica Corporation, San Francisco, California, BankAmerica Investment

Corporation, Chicago, Illinois, and First Franklin Financial Companies, Inc., San

Jose, California -- to acquire National Equity Corporation, Irvine, California, and

engage in mortgage lending and servicing activities.

- Permitted, November 21, 1997 

Secretary

Citizens Bancshares Company, Chillicothe, Missouri -- to acquire Trenton Trust

Company, Trenton, Missouri.

- Approved, November 17, 1997 

Kansas City
H.2

November 16, 1997 to November 22, 1997

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Citizens Effingham Bancshares, Inc., Springfield, Georgia -- to acquire Citizens Bank

of Effingham.

- Approved, November 19, 1997 

Atlanta

Colonial BancGroup, Inc., Montgomery, Alabama -- waiver of application to merge

with ASB Bancshares, Inc., Ashville, Alabama,

and acquire Ashville Savings Bank.

- Granted, November 19, 1997 

Atlanta

Colonial BancGroup, Inc., Montgomery, Alabama -- waiver of application to merge

with South Florida Banking Corporation, Bonita Springs, Florida, and acquire First

National Bank of Florida.

- Granted, November 19, 1997 

Covenant BankGroup, Inc., Leeds, Alabama -- to acquire Covenant Bank.

- Approved, November 19, 1997 

Atlanta

Fidelity Ban Corporation, Independence, Iowa -- to acquire Benton County Savings

Bank, Norway, Iowa.

- Approved, November 19, 1997 

Chicago

First National Bancshares of Eunice, Inc., Eunice, Louisiana -- wiaver of

commitment.

- Granted, November 20, 1997 

Atlanta

First State Financial Corporation, Sarasota, Florida -- to acquire First State Bank.

- Approved, November 19, 1997 

Atlanta
H.2

November 16, 1997 to November 22, 1997

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

F.N.B. Corporation, Hermitage, Pennsylvania -- to acquire West Coast Bank,

Sarasota, Florida.

- Approved, November 20, 1997 

Cleveland

Heritage Financial Corporation, Olympia, Washington -- to acquire Heritage Savings

Bank.

- Approved, November 18, 1997 

San Francisco

Johnson International, Inc., Racine, Wisconsin -- to acquire Bank of Fort Atkinson,

Fort Atkinson, Wisconsin.

- Approved, November 20, 1997 

Chicago

Light Bancshares Corporation, Liberal, Kansas -- to acquire The Community Bank.

- Approved, November 21, 1997 

Kansas City

Matson Financial, Inc., Blomkest, Minnesota -- to acquire State Bank of Blomkest.

- Approved, November 20, 1997 

Minneapolis

Nacogdoches Commercial Bancshares, Nacogdoches, Texas, and Nacogdoches

Bancshares of Delaware, Wilmington, Delaware -- waiver of application to acquire

Bank of East Texas, S.S.B., Lufkin, Texas.

- Granted, November 17, 1997 

Dallas

Norwest Corporation, Minneapolis, Minnesota -- to engage in residential mortgage

lending activities through acquisition of Revelation Mortgage Company of America,

Washington, D.C., a joint venture with Revelation Mortgage Corporation.

- Permitted, November 17, 1997 

Minneapolis
H.2

November 16, 1997 to November 22, 1997

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Norwest Corporation, Minneapolis, Minnesota -- to engage in acting as an

investment advisor through the acquisition of a limited partnership interest in Smith

Asset Management Group, L.P.,Dallas, Texas.

- Permitted, November 18, 1997 

Minneapolis

Panhandle Bancshares Corporation, Liberal, Kansas -- to acquire the Bank of

Panhandle, Guymon, Oklahoma.

- Approved, November 21, 1997 

Kansas City

Verona Bancshares, Limited, Verona, Wisconsin -- to acquire Bank of Verona.

- Approved, November 20, 1997 

Chicago

VRB Bancorp, Rogue River, Oregon -- waiver of application in connection with

acquisition by Valley of the Rogue Bank of Investors Banking Corporation.

- Granted, November 21, 1997 

San Francisco

WNB Bancshares, Inc., Odessa, Texas -- to acquire City National Bank, Austin,

Texas.

- Approved, November 19, 1997 

Dallas

Colonial Bank, Montgomery, Alabama -- to merge with Ashville Savings Bank,

Ashville, Alabama.

- Approved, November 19, 1997 

BANK MERGERS

Atlanta

Colonial Bank, Montgomery, Alabama -- to merge with First Central Bank, St.

Petersburg, Florida.

- Approved, November 19, 1997 

Atlanta
H.2

November 16, 1997 to November 22, 1997

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

City State Bank, Ogden, Iowa -- redemption of shares.

- Approved, November 19, 1997 

CAPITAL STOCK

Chicago

Habersham Bancorp, Cornelia, Georgia -- change in bank control.

- Permitted, November 21, 1997 

CHANGE IN BANK CONTROL

Atlanta

Washington Commercial Bancorp, Redmond, Washington -- change in bank control.

- Permitted, November 19, 1997 

San Francisco

Associated Bank Chicago, Chicago, Illinois -- report on competitive factors of the

proposed merger with Associated Bank Gladstone-Norwood.

- Submitted, November 19, 1997 

COMPETITIVE FACTORS REPORTS

Chicago

Associated Bank Milwaukee, Milwaukee, Wisconsin -- report on competitive factors

of the proposed merger with Associated Bank West Allis, West Allis, Wisconsin.

- Submitted, November 19, 1997 

Chicago

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

proposed purchase of certian assets and assumption of liabilities of the McLean,

Illinois, branch of Magna Bank, National Association, Brentwood, Missouri.

- Submitted, November 19, 1997 

Chicago

Bank of Tokyo-Mitsubishi Trust Company, New York, New York -- report on

competitive factors of the proposed acquisition of certain assets and assumption of

certain liabilities of Bank of Tokyo-Mitsubishi (Chicago), Chicago, Illinois.

- Submitted, November 18, 1997 

San Francisco
H.2

November 16, 1997 to November 22, 1997

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Bank United, Houston, Texas -- report on competitive factors of the proposed

acquisition of assets and assumption of liabilities of eighteen branches of Guardian

Savings and Loan Association, Dallas, Texas.

- Submitted, November 18, 1997 

Dallas

Boet Interim Bank, N.A., Nacogdoches, Texas -- report on competitive factors of the

proposed merger with The Bank of East Texas, S.S.B., Lufkin, Texas.

- Submitted, November 21, 1997 

Dallas

Camden National Bank, Camden, Maine -- report on competitive factors of the

proposed acquisition of the assets and assumption of the liabilities of four branches of

KeyBank, National Association, Cleveland, Ohio.

- Submitted, November 20, 1997 

Boston

City National Bank of Charleston, Charleston, West Virginia -- report on competitive

factors of the proposed merger with Peoples National Bank, Point Pleasant; First

State Bank & Trust , N.A., Rainelle; Bank of Ripley, Ripley; The Home National

Bank of Sutton, Sutton; Blue Ridge Bank, N.A., Martinsburg; Merchants National

Bank, Montgomery; The First National Bank of Hinton, Hinton; Peoples State Bank,

N.A., Clarksburg; and The Old National Bank of Huntington, Huntington, all in West

Virginia.

- Submitted, November 18, 1997 

Richmond

Commercial Bank of Texas, N.A., Nacogdoches, Texas -- report on competitive

factors of the proposed merger with Boet Interim Bank, N.A.

- Submitted, November 21, 1997 

Dallas

Farmers State Bank, Risco, Missouri -- report on competitive factors of the proposed

merger with First Sun Bank of America, Ellington, Missouri.

- Submitted, November 21, 1997 

St. Louis
H.2

November 16, 1997 to November 22, 1997

Page 8

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Federal Savings Bank of Leitchfield, Leitchfield, Kentucky -- report on

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

the Mayfield, Kentucky, branch of Republic Bank & Trust Company, Louisville,

Kentucky.

- Submitted, November 20, 1997 

St. Louis

First Kentucky Bank, Sturgis, Kentucky -- report on competitive factors of the

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

branch of First Federal Savings Bank of Leitchfield, Leitchfield, Kentucky.

- Submitted, November 20, 1997 

St. Louis

First National Bank of Brookfield, Brookfield, Illinois -- report on competitive

factors of the proposed merger with Republic National Bank of Brookfield.

- Submitted, November 21, 1997 

Chicago

Guaranty Bank, S.S.B., Milwaukee, Wisconsin -- report on competitive factors of the

proposed acquisition of certain assets of the Winnetka, Illinois, branch of Beal Bank,

S.S.B., Dallas, Texas.

- Submitted, November 21, 1997 

Chicago

Hancock Bank, Gulfport, Mississippi -- report on competitive factors of the proposed

purchase of assets and assumption of liabilities of the Gautier, branch of Union

Planters Bank of Southern Mississippi, Hattiesburg, Mississippi

- Submitted, November 19, 1997 

Atlanta

Horicon State Bank, Horicon, Wisconsin -- report on competitive factors of the

proposed acquisition of assets and assumption of liabilities of the Ripon and

Appleton, branches of Citizens Bank, N.A., Shawano, Wisconsin.

- Submitted, November 21, 1997 

Chicago
H.2

November 16, 1997 to November 22, 1997

Page 9

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Mercantile Bank of Pike County, Bowling Green, Missouri -- report on competitive

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

Mercantile Bank, N.A., Hartford, Illinois.

- Submitted, November 19, 1997 

St. Louis

National City Bank of Indiana, Indianapolis, Indiana -- report on competitive factors

of the proposed merger with The Madison Bank & Trust Company, Madison,

Indiana.

- Submitted, November 19, 1997 

St. Louis

Peoples Bank & Trust, Pana, Illinois -- report on competitive factors of the proposed

acquisition of assets and assumption of liabilities of the Pana Federal Savings and

Loan Association

- Submitted, November 21, 1997 

Chicago

Pilgrim Bank, Pittsburg, Texas -- report on competitive factors of the proposed

purchase of certain assets and assumption of liabilities of a branch of First Federal

Savings Bank of North Texas, Denton, Texas.

- Submitted, November 19, 1997 

Dallas

Regions Bank, Birmingham, Alabama -- report on competitive factors of the

proposed merger with Regions Bank of Louisiana, Baton Rouge, Louisiana.

- Submitted, November 19, 1997 

Atlanta

State Bank of Paw Paw, Paw Paw, Illinois -- report on competitive factors of the

proposed merger with Pinnacle Bancshares, Inc.

- Submitted, November 21, 1997 

Chicago
H.2

November 16, 1997 to November 22, 1997

Page 10

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Union Planters National Bank, Memphis, Tennessee -- report on competitive factors

of the proposed merger with 31 subsidiary banks of Union Planters Corporation.

- Submitted, November 19, 1997 

St. Louis

Valley National Bank of Cortez, Cortez, Colorado -- report on competitive factors of

the proposed merger with Tri-State Bank, Denver, Colorado.

- Submitted, November 17, 1997 

San Francisco

Valley of the Rogue Bank, Rogue River, Oregon -- report on competitive factors of

the proposed merger with Colonial Banking Company, Grants Pass, Oregon.

- Submitted, November 18, 1997 

San Francisco

Victory Bank and Trust Company, Cordova, Tennessee -- report on competitive

factors of the proposed merger with Deposit Guaranty National Bank, Jackson,

Mississippi.

- Submitted, November 19, 1997 

Secretary

BB&T Corporation, Winston-Salem, North Carolina -- extension to March 21,

1998, to acquire Virginia First Financial Corporation, Petersburg, Virginia, and

Virginia First Savings Bank, F.S.B. 

- Granted, November 19, 1997 

EXTENSIONS OF TIME

Richmond

Northwest Bancorp, MHC, Warren, Pennsylvania -- extension to February 18, 1998,

to acquire Northwest Bancorp, Inc. 

- Granted, November 17, 1997 

Cleveland
H.2

November 16, 1997 to November 22, 1997

Page 11

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Northwest Bancorp, Warren, Pennsylvania -- extension to February 18, 1998, to

acquire Northwest Savings Bank.

- Granted, November 17, 1997 

Cleveland

O.A.K. Financial Corporation, Bryon Center, Michigan -- extension to February 21,

1998, to acquire Caledonia Financial Corporation, Caledonia, Michigan, and State

Bank of Caledonia.

- Granted, November 21, 1997 

Chicago

West Coast Bancorp, Tustin, California -- extensions to divest certain properties.

- Granted, November 20, 1997 

San Francisco

Federal Reserve Bank of Richmond -- to offer commercial check image capture

products at the Baltimore Branch.

- Approved, November 19, 1997 

RESERVE BANK SERVICES

Director RBOPS
H.2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

Hocking Valley Bank, Athens, Ohio -- to establish a branch at 11 Mill Street,

Coolville, Ohio.

- Approved, November 10, 1997 

BANK BRANCHES, DOMESTIC

Cleveland

Slavens Properties, Inc., Davenport, Iowa -- waiver of application to acquire River

Cities Investment Company, Davenport, Iowa, and Northwest Bank Holding

Company, and acquire Northwest Bank and Trust Company. 

- Granted, November 13, 1997 

BANK HOLDING COMPANIES

Chicago

Farmers and Savings Bank, Loudenville, Ohio -- report on competitive factors of the

proposed merger with First Knox National Bank, Mount Vernon, Ohio.

- Submitted, November 14, 1997 

COMPETITIVE FACTORS REPORTS

Cleveland

Fifth Third Bank of Northeastern Ohio, Cleveland, Ohio -- report on competitive

factors of the proposed merger with Fifth Third Bank of Northwestern Ohio, N.A.,

Toledo, Ohio.

- Submitted, November 14, 1997 

Cleveland

Trumbull Savings and Loan Company, Warren, Ohio -- report on competitive factors

on the proposed merger with Trumbull Interim Savings Bank.

- Submitted, November 14, 1997 

Cleveland
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Merrill Merchants Bank, Bangor, Maine - application to establish 12/08/97

a mobile branch*

*Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

3(a)(1) Brookline Bancorp, M.H.C. and Brookline Bancorp, Inc., both of Fed Reg - 12/19/97

Brookline, Massachusetts - application to become a mutual bank Newspaper - 12/19/97

holding company and a bank holding company, respectively,

through the acquisition of Brookline Savings Bank, Brookline,

Massachusetts*

3(a)(1) Hoosac Financial Services, Inc., North Adams, Massachusetts - Fed Reg - N/Avail

application to become a mutual holding company through the Newspaper - 12/19/97

reorganization of North Adams Hoosac Savings Bank, North

Adams, Massachusetts

*Subject to the provisions of the Community Reinvestment Act.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

None

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Summit Bank, Hackensack, New Jersey branch offices at the 12/19/97

following Pathmark supermarket locations: 1) 1250 Black Horse

Pike, Pleasantville, New Jersey; 2) 2225 North Second

Street, Milville, New Jersey; 3) 240 Route 10, East Hanover, New

Jersey; 4) 895 Paulison Avenue, Clifton, New Jersey; and 

5) 1930 Highway 88, Bricktown, New Jersey.*

* Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

None

 

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) Credit Commercial De France S.A., Paris, France, to engage through N/Avail

CCF International Finance Corporation, New York, New York, in the

following nonbanking activities: extending credit and servicing loans; 

activities related to extending credit; financial and investment

advisory activities; agency transactional services; and investment

transactions as principal. 

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

Type Application comment period

Ending date of 

None

 

 

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

3(a)(3) Received notice from Premier Financial Bancorp, Inc., Georgetown, Fed Reg - 12/15/97

KY on November 14, 1997, of its intent to acquire Ohio River Bank,

Ironton, OH.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

4(c)(8) Received notice fromFifth Third Bancorp, Cincinnati, OH on

November 17, 1997, of its intent to acquire a 33 1/3% interest in

General Electric/Fifth Third Partnership #1, L.P., a limited

partnership whic will engage in permissible leasing activities.
Section V - Availability of CRA public evaluations

Description of the CRA Goal against which institutions are evaluated, the four performance levels, and the

institutions for which an evaluation is publicly available.

The CRA requires a periodic evaluation of each covered institution regarding the extent to which it has ascertained,

and helped meet, the credit needs of its entire delineated community, including low- and moderate-income

neighborhoods, in a manner consistent with its resources and capabilities.

The federal bank regulators use the following four performance levels to rate an institution’s performance under

CRA.:

Outstanding

Satisfactory

Needs to Improve

Substantial noncompliance

RSSD Examination CRA CRA

number Institution/ Location date public date rating

138510 The Fifth Third Bank of Northeastern 8/04/97 11/18/97 Outstanding 

Kentucky, Inc.

8100 Burlington Pike 

Florence, KY 41042

Section VI - CRA examinations scheduled for First Quarter of 1998

Institution Location

Chippewa Valley Bank P.O. Box 68, 20 S. Main Street, Rittman, OH 44270-0068

Oakwood Deposit Bank P.O. Box 207, 218 N. 1st Street, Oakwood, OH 45873-0207

The Ottoville Banking Company P.O. Box 459, 161 W. 3rd Street, Ottoville, OH 45876-0459

WesBanco Bank Barnesville P.O. 70, 101 E. Main Street, Barnesville, OH 43713-0070
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18(c) Northern Neck State Bank, Warsaw, Virginia, to acquire 12/10/97

branches of Signet Bank, Richmond, Virginia, located in 

White Stone; Kilmarnock; Burgess; and Reedville, Virginia.*

18(c) King George State Bank, King George, Virginia, to acquire 12/10/97

the Colonial Beach, Virginia, branch of Signet Bank, Richmond,

Virginia.*

Branch Centura Bank, Rocky Mount, North Carolina, to establish a branch at 12/13/97

101 South Main Street, High Point, North Carolina.*

Branch Community Bank of Tri-County, Waldorf, Maryland, to establish a 12/20/97

branch at 20 Saint Patricks Drive, Waldorf, Maryland.*

 *Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

None

 

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

None

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

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

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

1476349 The Horizon Bank of Virginia 9/8/97 11/21/97 Satisfactory Small

P. O. Box 3700

Merrifield, Virginia 22116

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

3(a)(1) Hogan Invesments, Inc., Forsyth, Georgia, along with Hogan Fed Reg 12/18/97

Investments, Ltd., Forsyth, Georgia, and Laurens Bancshares, Inc.,

Dudley, Georgia, to become bank holding companies through

acquisition of Bank of Dudley, Dudley, Georgia.*

3(a)(3) Community Bancshares of Mississippi, Inc., Forest, Mississippi, to Fed Reg 12/18/97

acquire Community Bank, DeSoto County, Southhaven, Mississippi

(in organization).*

*Subject to the provisions of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

WAIVR SouthTrust Corporation, Birmingham, Alabama, request for waiver of

the application requirements of Section 4(c)(8) of the Bank Holding

Company Act, to acquire First of America Bank - Florida, F.S.B.,

Tampa, Florida.

COM CBC Holding Company, Fitzgerald, Georgia, commitment waiver

request. 

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None
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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

 

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

Type Application comment period

Ending date of 

3(a)(3) First of Waverly Corporation* Fed Reg - 12/5/97

Waverly, Iowa Newspaper - 12/4/97

Schrage, Ltd.

Plainfield, Iowa

Farmers State Bank

Plainfield, Iowa 

3(a)(1) Hometown Bancorp, Ltd.* Fed Reg - 12/8/97

Fond du Lac, Wisconsin Newspaper - 12/6/97

St. Cloud Bancshares, Inc.

St. Cloud, Wisconsin

State Bank of St. Cloud

St. Cloud, Wisconsin

3(a)(1) Koss-Winn Bancshares, Inc. Employee Stock Ownership Fed Reg - 12/12/97

 Plan with 401(k) Provisions* Newspaper - 12/13/97

Buffalo Center, Iowa

Koss-Winn Bancshares, Inc.

Buffalo Center, Iowa

Farmers Trust and Savings Bank

Buffalo Center, Iowa

3(a)(3) F & M Bancorporation, Inc.* Fed Reg - 12/15/97

Kaukauna, Wisconsin Newspaper - N/Avail

Sentry Bancorp, Inc.

Edina, Minnesota

Cannon Valley Bank

Dundas, Minnesota
Section II - Applications subject to both newspaper and Federal Register notice

Type Application comment period

Ending date of 

3(a)(5) F & M Merger Corporation* Fed Reg - 12/15/97

Kaukauna, Wisconsin Newspaper - N/Avail

Sentry Bancorp, Inc.

Edina, Minnesota

Cannon Valley Bank

Dundas, Minnesota

CIC First Lacon Corp. Fed Reg - 12/9/97

Lacon, Illinois Newspaper - 11/28/97

By Norman L. Nelson and Louise K. Kanive

3(a)(3) F & M Bancorporation, Inc.* Fed Reg - 12/18/97

Kaukauna, Wisconsin Newspaper - 12/15/97

Bank of South Wayne

South Wayne, Wisconsin

3(a)(3) FBOP Corporation* Fed Reg - 12/5/97

Oak Park, Illinois Newspaper - 12/10/97

P.N.B. Financial Corporation

Chicago, Illinois

Park National Bank and Trust of Chicago

Chicago, Illinois

Fed Reg - Federal Register Comment Period Ending Date

Newspaper - Newspaper Comment Period Ending Date

N/Avail - Not available at this time

*Subject to the provision of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None

 

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

551548 M&I Central Bank & Trust 7/28/97 11/19/97 Satisfactory Large

101 W. 4th Street

P.O. Box 650

Marshfield, WI 54449

(715) 387-1134

40145 Chemical Bank-Bay Area 8/4/97 11/19/97 Satisfactory Large

213 Center Avenue

P.O. Box 69

Bay City, MI 48707

(517) 895-8521
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

1000445 M&I Bank of Racine 8/4/97 11/20/97 Satisfactory Large

441 Main Street

P.O. Box 757

Racine, WI 53401

(414) 638-6200

 

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

CIC Notice involving Forrest City Financial Corporation, N/Avail

Forrest City, Arkansas, by John R. Stipe

3(a)(3) Notice by Mississippi Valley Bancshares, Inc., Fed Reg - 12/23/97

St. Louis, Missouri, to acquire Southwest Bank,

Belleville, Illinois, a proposed de novo bank.*

3(a)(1) Notice by Rockhold BanCorp, Inc., Platte City, Newspaper - 

Missouri, to acquire Bank of Kirksville, Kirksville, 12/10/97

Missouri.*

* Subject to the provisions of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

4(j)(5)(B) Notice by Concord EFS, Inc., Memphis, Tennessee,

to acquire Pay Systems of America, Inc., Nashville,

Tennessee.

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Member Glacier Bank, Kalispell, Montana, a de novo bank, for prior N/Avail

approval to become a member of the Federal Reserve System.*

*Subject to the provisions of the Community Reinvestment Act

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

Type Application comment period

Ending date of 

3(a)(1) Eastwood Financial Corporation Employees’ Profit Sharing and Stock Fed Reg 12/18/97

Ownership Plan, Rochester, Minnesota, for prior approval to become

a bank holding company through the acquisition of 30% of the voting

shares of Eastwood Financial Corporation, Rochester, Minnesota.*

3(a)(3) Glacier Bancorp, Inc., Kalispell, Montana, for prior approval to N/Avail

acquire 100% of the voting shares of Glacier Bank, Kalispell,

Montana, a de novo bank.*

*Subject to the provisions of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

3(a)(1) American State Bank Holding Company, Inc., Williston, North

Dakota, for prior approval to become a bank holding company

through the acquisition of 100% of the voting shares of American

State Bank and Trust Company of Williston, Williston, North Dakota.

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

CIC Fred C. and Kellie P. Harlan, Okmulgee, Oklahoma, for prior Newspaper - N/Avail

approval to acquire voting shares of First Okmulgee Corporation, Fed Reg - N/Avail

Okmulgee, Oklahoma, and thereby indirectly acquire First National

Bank & Trust Company, Okmulgee, Oklahoma.

CIC L & W Holding Company, Oklahoma City, Oklahoma, a Qualified Newspaper - N/Avail

Family Partnership; to acquire voting shares of First Fidelity Fed Reg - 12/8/97

Bancorporation, Oklahoma City, Oklahoma, and thereby indirectly

acquire First Fidelity Bank, N.A., Oklahoma City, Oklahoma.

CIC Wallace Company, Limited Partnership, Cheyenne, Wyoming, for Newspaper - 12/9/97

prior approval to acquire voting shares of Farmers State Bankshares, Fed Reg - 12/10/97

Inc., Cheyenne, Wyoming; and thereby indirectly acquire Wyoming

Bank & Trust, Cheyenne, Wyoming.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

Member Exchange Bank & Trust Company, Perry, Oklahoma, for prior

approval to become a member of the Federal Reserve System.

Member Bank of Wyandotte, Wyandotte, Oklahoma, for prior approval to

become a member of the Federal Reserve System.

Member First State Bank, Picher, Oklahoma, for prior approval to become a

member of the Federal Reserve System.

Section V - Availability of CRA public evaluations

Description of the CRA Goal against which institutions are evaluated, the four performance levels, and the

institutions for which an evaluation is publicly available.

The CRA requires a periodic evaluation of each covered institution regarding the extent to which it has ascertained,

and helped meet, the credit needs of its entire delineated community, including low- and moderate-income

neighborhoods, in a manner consistent with its resources and capabilities.

The federal bank regulators use the following four performance levels to rate an institution’s performance under

CRA.:

Outstanding

Satisfactory

Needs to Improve

Substantial noncompliance

RSSD Examination CRA CRA

number Institution/ Location date public date rating

172457 Citizens Bank of Edmond 08/18/97 11/19/97 Satisfactory

1 E. 1st Street

Edmond, Oklahoma 73034-3805

293558 Heritage Bank of St. Joseph 09/08/97 11/20/97 Satisfactory

1701 S. Belt Highway

St. Jospeh, Missouri 64507-2235
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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

CIC Michael S. Helfer, Washington, D.C., only notificant, to acquire an N/Avail

interest in First Community Bancshares, Inc., Houston, Texas

3(a)(5) American State Financial Corporation, Lubbock, TX, and American N/Avail

State Financial Corporation Delaware, Wilmington, DE, to acquire

Security Shares, Inc., Abilene, TX, and Security State Bank, Abilene,

TX

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

491569 Texas Bank 7/1/97 11/17/97 Satisfac- Large

102 North Main Street tory

P.O. Box 760

Weatherford, TX 76086

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 of November 22, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of

3(a)(5) InterWest Bancorp, Inc., Oak Harbor, Washington, to merge with Newspaper - 12/7/97

Puget Sound Bancorp, Inc., Port Orchard, Washington. * Fed Reg - 12/15/97

3(a)(3) Eggemeyer Advisory Corp., Castle Creek, L.L.C., and Castle Creek Newspaper -

Capital Partners Fund-I, L.P., all of San Diego, California, to acquire 12/11/97

up to 24.9 percent of Regency Bancorp, Fresno, California.*

Fed Reg - 12/15/97

* Subject to the provisions of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) First Security Corporation, Salt Lake City, Utah, to engage in Fed Reg - 12/9/97

underwriting and dealing in certain "bank eligible" and "bank

ineligible" securities, other securities related activities, and activities

incidental thereto through the establishment of a Section 20 broker

dealer subisidiary, First Security Capital Markets, Inc., Salt Lake

City, Utah.

4(c)(8) Eggemeyer Advisory Corp., Castle Creek, L.L.C., and Castle Creek Fed Reg - 12/15/97

Capital Partners Fund-I, L.P., all of San Diego, California, to engage

in certain nonbanking activities through the acquisition of Regency

Investment Advisors, Inc., Fresno, California.
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of

S/R Southern California Bank, Anaheim, California, to distribute

approximately $15 million from retained earnings to Western

Bancorp, Laguna Niguel, California.

Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA Large Small

number Institution/ Location date public date rating bank bank

Exam type

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.

The federal bank regulators use the following four performance levels to rate an institution's performance under

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA Large Small

number Institution/ Location date public date rating bank bank

Exam type

None
Section VI - CRA examinations scheduled Quarter of

Institution Location

None