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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 9

Week Ending February 28, 1998

Federal Reserve Release

H.2

Applications and Reports Received
No. 9

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Consumer Advisory Council 

- Convened, February 26, 1998 

ADVISORY COUNCILS

First Financial Corporation, Terre Haute, Indiana -- to acquire The Morris Plan

Company of Terre Haute, Inc.

- Approved, February 23, 1998 

BANK HOLDING COMPANIES

Notice By Financial Institutions of Government Securities Broker or Government

Securities Dealer Activities and the Notice By Financial Institutions of Termination

of Activities as a Government Securities Broker or Government Securities Dealer

(FR G-FIN, FR G-FINW) -- extension, without revision.

- Proposed, February 25, 1998 

FORMS

Basle Committee on Banking Supervision -- request for public comment on

documents concerning the supervision of financial conglomerates.

- Announced, February 26, 1998 

REGULATIONS AND POLICIES
H.2

February 22, 1998 to February 28, 1998

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

1st Source Bank, South Bend, Indiana -- to establish a branch at 100 West Main

Street, Winamac, Indiana.

- Approved, February 23, 1998 

BANK BRANCHES, DOMESTIC

Chicago

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

Food Supermarket, 1805 Avenue U, Brooklyn, New York.

- Approved, February 25, 1998 

New York

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

Supermarket, 2901 Mermaid Avenue, Brooklyn, New York.

- Approved, February 25, 1998 

F & M Bank-Northern Virginia, Fairfax, Virginia -- to establish a branch in Section

4B, Phase 2, Lot B-2, South Riding, Virginia.

- Approved, February 27, 1998 

Richmond

First Farmers Bank & Trust Company, Converse, Indiana -- to establish a branch at

112 South California, Galveston, Indiana.

- Approved, February 26, 1998 

Chicago

First Vantage Bank-Tennessee, Knoxville, Tennessee -- to establish a branch at 7801

Kingston Pike.

- Approved, February 27, 1998 

Atlanta

Firstar Bank Illinois, Chicago, Illinois -- to establish a branch at Lot 6, Almond Plaza,

southeast corner of Grand Avenue/Highway 132 and Almond Road, Gurnee, Illinois.

- Approved, February 23, 1998 

Chicago
H.2

February 22, 1998 to February 28, 1998

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Isabelia Bank and Trust, Mt. Pleasant, Michigan -- to establish branches at 240 East

Northern Avenue, Barryton; 8529 100th Avenue, Stanwood; and 220 West

Wheatland Street, Remus, Michigan.

- Approved, February 27, 1998 

Chicago

M&I Bank of Burlington, Burlington, Wisconsin -- to establish a branch at 25100

75th Street, Paddock Lake, Wisconsin.

- Approved, February 25, 1998 

Chicago

M&I Bank of Racine, Racine, Wisconsin -- to establish a branch at 2406 South

Green Bay Road.

- Approved, February 25, 1998 

Chicago

M&I Marshall & Illsley Bank, Milwaukee, Wisconsin -- to acquire the Lake Geneva,

Wisconsin, branch of M&I Bank South, Janesville, Wisconsin.

- Approved, February 25, 1998 

Chicago

M&I Marshall & Illsley Bank, Milwaukee, Wisconsin -- to merge with Advantage

Wisconsin Interim Bank, FSB, Kenosha, Wisconsin, and establish eight branches.

- Approved, February 25, 1998 

Old Kent Bank, Grand Rapids, Michigan -- to establish a branch at 1390 North

Leroy, Fenton, Michigan.

- Approved, February 27, 1998 

Chicago

Riverside Bank of the Gulf Coast, Cape Coral, Florida -- to establish a branch at 506

Cape Coral Parkway.

- Approved, February 23, 1998 

Atlanta
H.2

February 22, 1998 to February 28, 1998

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Bellingham Bancorporation, Bellingham, Washington -- to acquire the Bank of

Bellingham.

- Approved, February 25, 1998 

BANK HOLDING COMPANIES

San Francisco

Cache Bank Financial Corporation, Greeley, Colorado -- to acquire Cache Bank.

- Approved, February 23, 1998 

Kansas City

Centura Banks, Inc., Rocky Mount, North Carolina -- to merge with Pee Dee

Bankshares, Inc., Timmonsville, South Carolina, and acquire Pee Dee State Bank;

and Centura Bank, Rocky Mount, North Carolina, to merge with Pee Dee State

Bank; and establish branches at the current locations of Pee Dee State Bank.

- Approved, February 24, 1998 

Secretary

Citizens Financial Corporation, Chicago, Illinois -- to acquire Citizens Bank & Trust

Company of Chicago.

- Approved, February 27, 1998 

Chicago

Community Group, Inc., Dallas, Texas -- to acquire The Delaware Community

Group, Inc., Wilmington, Delaware, and United Community Bank, N.A., Highland

Village, Texas.

- Approved, February 26, 1998 

Dallas

DeWitt First Bankshares Corporation, DeWitt, Arkansas -- to engage in lending

activities.

- Permitted, February 24, 1998 

St. Louis
H.2

February 22, 1998 to February 28, 1998

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Capital Bancshares, Inc., Chillicothe, Ohio -- to acquire The Citizens National

Bank of Chillicothe.

- Approved, February 26, 1998 

Cleveland

First Azle Bancshares, Inc., Azle, Texas -- redemption of shares.

- Approved, February 27, 1998 

Dallas

First Savings Bank of Washington Bancorp, Inc., Walla Walla, Washington -- to

acquire Towne Bancorp, Inc., Woodinville, Washington.

- Approved, February 25, 1998 

San Francisco

First Union Corporation, Charlotte, North Carolina -- to extend to March 13, 1998,

the comment period regarding the application to acquire CoreStates Financial Corp.,

Philadelphia, Pennsylvania, after the applicant submits its Community Reinvestment

Plan for the Pennsylvania, New Jersey, and Delaware communities.

- Granted, February 23, 1998 

Secretary

First Union Corporation, Charlotte, North Carolina -- public meeting to be held on

Friday, March 13, 1998, at 9:00 A.M. EST at the Federal Reserve Bank of

Philadelphia, 10 Independence Mall, Philadelphia, Pennsylvania.

- Authorized, February 25, 1998 

General Counsel

First United Bancshares, Inc., El Dorado, Arkansas -- to acquire First Republic

Bancshares, Inc., Rayville, Louisiana, and First Republic Bank.

- Approved, February 27, 1998 

St. Louis

HCB Bancorp, Inc., Raymond, Washington -- to acquire Harbor Community Bank.

- Approved, February 26, 1998 

San Francisco
H.2

February 22, 1998 to February 28, 1998

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

J.P. Morgan & Co., New York, New York -- to acquire the assets and assume the

liabilities of O'Connor Realty Advisors Incorporated, and engage in financial and

investment advisory activities.

- Permitted, February 24, 1998 

New York

Marshall Community Bancshares, Inc., Marshall, Missouri -- to acquire Community

Bank of Marshall.

- Approved, February 26, 1998 

Kansas City

MBT Bancshares, Inc., Kansas City, Missouri -- to acquire Missouri Bank and Trust

Company. 

- Approved, February 26, 1998 

Kansas City

Midwest Bankers' Bancorporation, Inc., Jefferson City, Missouri -- to engage de

novo in trust and estate planning activities through Missouri Trust Company,

Jefferson City, Missouri.

- Permitted, February 25, 1998 

St. Louis

N.A. Corporation, Roseville, Minnesota -- to acquire North American Banking

Company.

- Returned, February 27, 1998 

Minneapolis

National City Corporation, Cleveland, Ohio -- to acquire Fort Wayne National

Corporation, Fort Wayne, Indiana, The Auburn State Bank, Auburn; Churubusco

State Bank, Churubusco; First National Bank of Huntington, Huntington; First

National Bank of Warsaw, Warsaw; Fort Wayne National Bank, Fort Wayne;

Old-First National Bank in Bluffton, Bluffton; and Valley American Bank, South

Bend, Indiana. 

- Approved, February 23, 1998 

Secretary
H.2

February 22, 1998 to February 28, 1998

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

National City Corporation, Cleveland, Ohio -- to acquire Fort Wayne National Life

Insurance Company, Phoenix, Arizona, and engage in credit life and disability

insurance activities.

- Permitted, February 23, 1998 

Triangle Bancorp, Inc., Raleigh, North Carolina -- to merge with Guaranty State

Bancorp, Durham, North Carolina.

- Approved, February 23, 1998 

Richmond

Unity Bancshares, L.L.C., St. John, Missouri -- to acquire shares of St. Johns

Bancshares, Inc., St. John, Missouri, and St. Johns Bank & Trust Company.

- Approved, February 26, 1998 

St. Louis

Zions Bancorporation, Salt Lake City, Utah -- request for waiver of application to

acquire Routt County National Bank Corporation, Steamboat Springs, Colorado, and

First National Bank of Colorado.

- Granted, February 23, 1998 

San Francisco

BancFirst, Oklahoma City, Oklahoma -- to purchase the assets and assume the

liabilities of eleven branches and two detached facilities in Oklahoma from

NationsBank, N.A., Charlotte, North Carolina.

- Approved, February 23, 1998 

BANK MERGERS

Kansas City

F & M Bank-Blakeley, Inc., Ranson, West Virginia -- to merge with F & M

Bank-Martinsburg, Martinsburg, and F & M Bank-Keyser, Inc., Keyser, West

Virginia.

- Approved, February 25, 1998 

Richmond
H.2

February 22, 1998 to February 28, 1998

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Farmers Bank & Trust Company, Converse, Indiana -- to acquire the Galveston,

Indiana, branch of National City Bank of Indiana, Indianapolis, and establish a

branch.

- Approved, February 26, 1998 

Chicago

Isabelia Bank and Trust, Mt. Pleasant, Michigan -- to acquire the assets and assume

the liabilities of the Barryton; Stanwood, and Remus, Michigan branches of Old Kent

Bank, Grant Rapids, Michigan, and establish branches.

- Approved, February 27, 1998 

Chicago

M&I Bank of Burlington, Wisconsin -- to merge with Advantage Burlington Interim

Bank, FSB, Kenosha, Wisconsin, and establish a branch.

- Approved, February 25, 1998 

Chicago

M&I Bank of Racine, Racine, Wisconsin -- to acquire the Racine branch of

Advantage Bank, FSB, Kenosha, Wisconsin., and to establish a branch.

- Approved, February 25, 1998 

Chicago

M&I Marshall Bank, Milwaukee, Wisconsin -- to acquire the Kenosha branch of

M&I Bank of Burlington, Burlington, Wisconsin.

- Approved, February 25, 1998 

Chicago

Triangle Bank, Raleigh, North Carolina -- to merge with Guaranty State Bank,

Durham, North Carolina.

- Approved, February 23, 1998 

Richmond

Colorado Valley Bank, La Grange, Texas -- investment in bank premises.

- Approved, February 27, 1998 

BANK PREMISES

Dallas
H.2

February 22, 1998 to February 28, 1998

Page 8

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Texas Commerce Trust Company of New York, New York -- registration as transfer

agent.

- Withdrawn, February 25, 1998 

BANKS, NONMEMBER, AND MISCELLANEOUS INSTITUTIONS

Director, BS&R

Bank One, Springfield, Illinois -- registration as transfer agent.

- Withdrawn, February 26, 1998 

BANKS, STATE MEMBER

Director, BS&R

Chester Bancorp, Inc., Chester, Illinois -- change in bank control.

- Permitted, February 23, 1998 

CHANGE IN BANK CONTROL

St. Louis

First Medicine Lodge Bancshares, Inc., Medicine Lodge, Kansas -- change in bank

control.

- Permitted, February 23, 1998 

Kansas City

Vermilion Bancshares Corporation, Kaplan, Louisiana -- change in bank control.

- Permitted, February 27, 1998 

Atlanta

Banco Popular, F.S.B., Newark, New Jersey -- report on competitive factors of the

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

Passaic, New Jersey, branch of Statewide Savings Bank, S.L.A., Jersey City, New

Jersey.

- Submitted, February 25, 1998 

COMPETITIVE FACTORS REPORTS

New York
H.2

February 22, 1998 to February 28, 1998

Page 9

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Commercial Federal Corporation, Omaha, Nebraska -- report on competitive factors

of the proposed merger with Perpetual Midwest Financial, Inc., Cedar Rapids, Iowa.

- Submitted, February 24, 1998 

Chicago

Douglas County Bank & Trust Company, Omaha, Nebraska -- report on competitive

factors of the proposed merger with Bank of Bellevue, Bellevue, Nebraska.

- Submitted, February 24, 1998 

Kansas City

Federal Savings Bank, Rogers, Arkansas -- to convert to First Commercial Bank,

N.A., of West Memphis, West Memphis, Arkansas.

- Approved, February 26, 1998 

St. Louis

First Commercial Bank of Memphis, N.A., Memphis, Tennessee -- report on

competitive factors of the proposed merger with First Commercial Bank, N.A., of

West Memphis, West Memphis, Arkansas.

- Submitted, February 26, 1998 

St. Louis

First Commercial Bank, N.A., Little Rock, Arkansas -- report on competitive factors

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

Parham and the Prospect Building branches in Little Rock of Federal Savings Bank,

Rogers, Arkansas.

- Submitted, February 26, 1998 

St. Louis

First Commercial Bank, N.A., of Memphis, Memphis, Tennessee -- report on

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

liabilities of the Memphis, Collierville, and Bartlett, Tennessee, branches of Federal

Savings Bank, Rogers, Arkansas.

- Submitted, February 26, 1998 

St. Louis
H.2

February 22, 1998 to February 28, 1998

Page 10

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Community Bank of Johnson County, Knob Noster, Missouri -- report on

competitive factors of the proposed merger with First Community Bank, Windsor,

Missouri.

- Submitted, February 24, 1998 

Kansas City

Grossmont Bank, San Diego, California -- report on competitive factors of the

proposed merger with First Pacific National Bank, Escondido, California.

- Submitted, February 26, 1998 

San Francisco

First Security Bank of Havre, Havre, Montana -- report on competitive factors of the

proposed merger with Traders State Bank of Poplar, Poplar, and The Citizens State

Bank of Scobey, Scobey, Montana.

- Submitted, February 23, 1998 

Minneapolis

Interim Colorado Community First National Bank, Longmont, Colorado -- report on

competitive factors of the proposed merger with Pioneer Bank of Longmont.

- Submitted, February 23, 1998 

Kansas City

Magna Bank, National Association, Brentwood, Missouri -- report on competitive

factors of the proposed merger with Charter Bank, S.B., Sparta, Illinois.

- Submitted, February 25, 1998 

St. Louis

National Interim Bank of Commerce, Superior, Wisconsin -- report on competitive

factors of the proposed merger with National Bank of Commerce.

- Submitted, February 25, 1998 

Minneapolis

Old National Bank in Evansville, Evansville, Indiana -- report on competitive factors

of the proposed merger with The National Bank of Carmi, Carmi, Illinois.

- Submitted, February 23, 1998 

St. Louis
H.2

February 22, 1998 to February 28, 1998

Page 11

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Powell Valley National Bank, Jonesville, Virginia -- report on competitive factors of

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

Big Stone Gap, Virginia, branch of First American Federal Savings Bank, Roanoke,

Virginia.

- Submitted, February 24, 1998 

Richmond

Savings Institute, Willimantic, Connecticut -- report on competitive factors of the

proposed acquisition of certain assets and assumption of certain liabilities of the 60

Cantor Drive (Shaws Supermarket) Willimantic branch of the New London Trust,

FSB, New London, New Hampshire.

- Submitted, February 24, 1998 

Boston

Security Bank, Sidney, Nebraska -- report on competitive factors of the proposed

merger with The Home Bank of Elwood, Elwood, Kansas.

- Submitted, February 23, 1998 

Kansas City

Sterling Savings Association, Cleveland, Ohio -- report on competitive factors of the

proposed acquisition of 33 branches of KeyBank, National Association, Cleveland,

Ohio, in Washington, Oregon, and Idaho.

- Submitted, February 26, 1998 

San Francisco

U. S. Bank National Association, Minneapolis, Minnesota -- report on competitive

factors of the proposed merger with First Trust Company of North Dakota National

Association, Fargo, North Dakota.

- Submitted, February 27, 1998 

Minneapolis

WestStar Bank, Bartlesville, Oklahoma -- report on competitive factors of the

proposed merger with Victory Bancorp, Inc., Nowata, Oklahoma

- Submitted, February 24, 1998 

Kansas City
H.2

February 22, 1998 to February 28, 1998

Page 12

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Calvin B. Taylor Bankshares, Inc., Berlin, Maryland -- extension to June 19, 1998, to

acquire Calvin B. Taylor Bank of Delaware, Ocean View, Delaware.

- Granted, February 27, 1998 

EXTENSIONS OF TIME

Richmond

Campello Bancorp, Brockton, Massachusetts -- to engage in loan servicing activities.

- Permitted, February 24, 1998 

Boston

First Commerce Corporation, New Orleans, Louisiana -- extension to June 1, 1998,

to engage in community development investment activities through its investment in a

proposed community development known as 150 Baronne Street Limited

Partnership.

- Granted, February 24, 1998 

Atlanta

Heartland Bancshares, Inc., Lenox, Iowa -- extension to June 30, 1998, to acquire

shares.

- Granted, February 26, 1998 

Chicago

Highlands Independent Bancshares, Inc., Sebring, Florida -- extension to June 22,

1998, to acquire Highlands Independent Bank,.

- Granted, February 25, 1998 

Atlanta

Summit Bank, Hackensack, New Jersey -- extension to May 28, 1998, to merge with

Collective Bank, A Federal Savings Bank, and to establish branches.

- Granted, February 26, 1998 

New York
H.2

February 22, 1998 to February 28, 1998

Page 13

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

North American Banking Company, Roseville, Minnesota -- to become a member of

the Federal Reserve System.

- Returned, February 27, 1998 

MEMBERSHIP

Minneapolis
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of February 28, 1998 

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) The 1855 Bancorp, New Bedford, Massachusetts - application to Newspaper - 3/26/98

acquire up to 24.9% of Sandwich Bancorp, Inc., Sandwich, Fed Reg - 3/30/98

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 Februaru 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Summit Bank, Princeton, New Jersey, to establish a branch office 03/25/98

at the Pathmark supermarket located at 977 Valley Road,

Gillette, 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) HUBCO, Inc., Mahwah, New Jersey, to acquire 100 percent of the N/Avail

outstanding common stock of MSB Bancorp, Inc., and its federally

chartered savings bank subsidiary, MSB Bank, both of Goshen, New

York.

4(c)(8) Union Bank of Switzerland, Zurich, Switzerland ("UBS"), in 03/10/98

connection with the proposed merger between UBS and Swiss Bank

Corporation, Basel, Switzerland, ("SBC"), to acquire the following

subsidiaries of SBC: (i) SBC Warburg Dillon Read Inc.; (ii) Dillon,

Read Interfunding Inc.; (iii) Private Equity Holding, Inc.; (iv) SBC

Resource Management Inc.; (v) SBC Brinson, Inc.; (vi) Warburg

Brunswick Inc., all of New York, New York; and (vii) SBC Warburg

Futures, Inc; (viii) Brinson Partners, Inc.; and (ix) Brinson Trust

Company, all of Chicago, Illinois, and thereby engage in certain

nonbanking activities.
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 February 28, 1998

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 

INV Bryn Mawr Bank Corporation, Bryn Mawr, PA

To invest in a subsidiary trust company incorporated

in Jersey Channel Islands.
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 of February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18C Received application from Fifth Third Bank, Cincinnati, OH on N/Avail

5D3 February 25, 1998, to merge with Century Bank, Upper

Branch Arlington, OH and establish branches.

18C Received application from The Fifth Third Bank of Columbus, N/Avail

5D3 Columbus, OH on February 25, 1998, to merge with State

Branch Savings Bank, Columbus, OH and establish branches.

18C Received application from The Fifth Third Bank of Columbus, N/Avail

Branch Columbus, OH on February 25, 1998, to acquire a branch of

Fifth Third Bank, Cincinnati, OH located at 1720 Zollinger Rd.,

Upper Arlington, OH and to establish a branch.

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

Type Application comment period

Ending date of 

4C8 Received application from Fifth Third Bancorp, Cincinnati, OH N/Avail

OAKAR on February 25, 1998, to acquire State Savings Company,

Columbus, OH.

3A3 Received application from F.N.B. Corporation, Hermitage, PA Fed Reg - 3/26/98

and its wholly-owned subsidiary, Southwest Banks, Inc., Naples,

FL on February 23, 1998, to acquire Seminole Bank, Seminole

FL.

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 2nd Quarter of 1998

Institution Location

Citizens Deposit Bank & Trust P.O. Box 9, 400 Second Street, Vanceburg, KY 41179-0009

Enterprise Bank 6150 Enterprise Parkway, Solon, OH 44139

Farmers Bank & Savings Company P.O. Box 626, 211 W. 2nd Street, Pomeroy, OH 45769-1037

Heartland Bank P.O. Box 7, 12 N. Main Street, Croton, OH 43013-0007

The Citizens Banking Company P.O. Box 247, 10 E. Main Street, Salineville, OH 43945-0247

The St. Henry Bank P.O. Box 330, 231 E. Main Street, St. Henry, OH 45883

Towne Bank 610 East South Boundary, Perrysburg, OH 43551
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week of February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Bank of Suffolk, Suffolk, Virginia, to retain its present main 3/17/98

office location at 101 East Washington Street, Suffolk,

Virginia, as a branch location, upon the relocation of the

main office to a new site at 1514 Holland Road, Suffolk,

Virginia.*

Branch Bank of Clarke County, Berryville, Virginia, to operate a 3/21/98

branch at 40 West Piccadilly Street, Winchester, Virginia.*

Branch First Virginia Bank of Tidewater, Norfolk, Virginia, to 3/23/98

establish a branch inside the Wal-Mart SuperCenter at

1521 Sams Circle, Chesapeake, Virginia.*

*Subject to 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

349820 Bank of Ferrum 11/7/97 2/21/98 Outstanding Small Bank

Timber Line Road

Ferrum, Virginia 24088

421922 First Community Bank 11/17/97 2/21/98 Satisfactory Small Bank

Routes 221 and 666

Forest, Virginia 24551

1186947 Hanover Bank 11/17/97 2/26/98 Satisfactory Small Bank

7021 Mechanicsville Turnpike

Mechanicsville, Virginia 23111

161527 First Virginia Bank - Colonial 10/10/97 2/28/98 Satisfactory Large Bank

700 East Main Street

Richmond, Virginia 23219-2619
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

674728 First Virginia Bank - Franklin County 10/27/97 2/28/98 Satisfactory Large Bank

369 Franklin Street

Rocky Mount, Virginia 24151-1329

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 February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Colonial Bank, Montgomery, Alabama, to establish a branch 3/16/98

located at 309 Broad Street, Gadsden, Alabama.*

*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 

4(c)(8) Republic Bancshares, Inc., to acquire Republic Bank, F.S.B. Newspaper - 3/31/98

(in organization), both of St. Petersburg, Florida, and thereby

engage de novo in operating a savings association.*

3(a)(5) PAB Bankshares, Inc., Valdosta, Georgia, to merge with Investors N/Avail

Financial Corporation, and thereby acquire Bainbridge National

Bank, both of Bainbridge, Georgia.*

3(a)(3) Cumberland Bancorp, Inc., Carthage, Tennessee, to acquire The N/Avail

Bank of Mason, Mason, Tennessee.*

3(a)(1) United Community Banks, Inc., to become a bank holding Fed Reg - 3/13/98

company by acquiring United Community Bank, both of Gonzales,

Louisiana.*

3(a)(3) First American Corporation, Nashville, Tennessee, to acquire Newspaper - 3/18/98

Victory Bancshares, Inc., and its subsidiary, Victory Bank and

Trust Company, both of Cordova, Tennessee.*

*Subject to the requirements 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 

Waiver Request by Premier Bancshares, Inc., Atlanta, Georgia, for waiver of

the application requirement of section 3 of the Bank Holding

Company Act for its proposed acquisition of Lanier Bank and Trust

Company, Cumming, Georgia.

3(a)(1) Southern Bancshares, Inc., notice to become a bank holding company

by acquiring The Claxton Bank, both of Claxton, Georgia.

4(c)(8) Community Trust Financial Services Corporation, Hiram, Georgia, to

acquire Piedmont Loan Company, Gainesville, Georgia, and thereby

engage in consumer finance activities, credit insurance activities, and

tax planning activities.

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

1162558 First Gulf Bank 11/17/97 02/26/98 Satisfactory Small Bank

250 W. Ft. Morgan Road

Gulf Shores, AL 36542

(334) 968-1601
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 February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18(c)/ Branch M&I Bank of Burlington Newspaper - 2/20/98

Burlington, Wisconsin

 Advantage Burlington Interim Bank, FSB

 Kenosha, Wisconsin

 25100 75th Street

 Paddock Lake, Wisconsin

18(c)/ Branch First Farmers Bank and Trust Company Newspaper - 2/19/98

Converse, Indiana

 Galveston, Indiana branch office of

 National City Bank of Indiana

 Indianapolis, Indiana

 112 South California

 Galveston, Indiana

18(c)/ Branches Isabella Bank and Trust Newspaper - 2/23/98

Mt. Pleasant, Michigan

 Barryton, Michigan, Stanwood, Michigan and

 Remus, Michigan branches of Old Kent Bank 

 Grand Rapids, Michigan

 240 E. Northern Avenue

 Barryton, Michigan

 8529 100th Avenue

 Stanwood, Michigan

 220 W. Wheatland Street

 Remus, Michigan

18(c) M&I Marshall & Ilsley Bank Newspaper - 2/20/98

Milwaukee, Wisconsin

 Kenosha, Wisconsin branch office of

 M&I Bank of Burlington

 Burlington, Wisconsin

Newspaper - Newspaper Comment Period Ending Date
Section II - Applications subject to both newspaper and Federal Register notice

Type Application comment period

Ending date of 

CIC Longview Capital Corporation Fed Reg - 2/24/98

Newman, Illinois Newspaper - 3/6/98

 By JMP Family Investments, L.P., and

 MJD Family Investments, L.P.

CIC Federated Bancorp, Inc. Fed Reg - 3/3/98

Loda, Illinois Newspaper - 3/5/98

 By Donal H. Schafer

CIC First Mutual Bancorp of Illinois, Inc. Fed Reg - 2/27/98

Harvey, Illinois Newspaper - 3/9/98

 By Pethinaidu T. Veluchamy and

 Parameswari Veluchamy

CIC Shields Agency, Inc. Fed Reg - 3/17/98

Rowley, Iowa Newspaper - N/Avail

 By Gregory D. Shields

CIC Decatur Corporation Fed Reg - N/Avail

Leon, Iowa Newspaper - N/Avail

 By Julie Hamann Bunderson

CIC Northwest Iowa Bancorporation Fed Reg - N/Avail

LeMars, Iowa Newspaper - N/Avail

 By William A. Krause

3(a)(1) Founders Financial Corporation* Fed Reg - N/Avail

Grand Rapids, Michigan Newspaper - N/Avail

 Founders Trust Personal Bank

 Grand Rapids, Michigan

3(a)(1) Central Iowa Bancorporation* Fed Reg - N/Avail

Iowa City, Iowa Newspaper - N/Avail

 Conrad Bancorporation

 Conrad, Iowa

 First State Bank

 Conrad, Iowa

3(a)(3) ISB Financial Corp.* Fed Reg - N/Avail

Iowa City, Iowa Newspaper - N/Avail

 Conrad Bancorporation

 Conrad, Iowa

 First State Bank

 Conrad, Iowa

Fed Reg - Federal Register Comment Period Ending Date

Newspaper - Newspaper Comment Period Ending Date

N/Avail - Not Available at this time

*Subject to 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

175140 Community First Bank 11/5/97 2/23/98 Satisfactory Small

925 Wisconsin Avenue

Boscobel, Wisconsin 53805

(608) 375-4117
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 February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Notice by Commerce Warren County Bank, Warrenton, Missouri, 3/21/98

to establish a branch at 1145 West Pearce Blvd., Wentzville,

Missouri.*

* 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) Notice by New Independent Bancshares, Inc., New Washington, N/Avail

Indiana, to establish New Washington Reinsurance Company, Ltd.,

Turks and Caicos Islands, and thereby indirectly engage, de novo, in

the reinsurance of credit life, credit health and accident insurance sold

in connection with extensions of credit by New Independent

Bancshares, Inc.'s wholly owned subsidiary bank.

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

339540 Arkansas Bank & Trust Company 11/17/97 2/23/98 Satisfactory Large Bank

Hot Springs, Arkansas

Section VI - CRA examinations scheduled for 2nd Quarter of 1998

Institution Location

Farmers and Merchants Bank Rogers, Arkansas

Simmons First Bank of Russellville Russellville, Arkansas

Springdale Bank & Trust Springdale, Arkansas

The Farmers & Merchants Bank Stuttgart, Arkansas

The Bank of Yellville Yellville, Arkansas

First Bank Creve Coeur, Missouri 

Citizens Bank New Haven, Missouri

Southern Commercial Bank St. Louis, Missouri
District 9

Federal Reserve Bank of Minneapolis

Applications and Notifications Filed During the Week of February 28, 1998

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 period

Ending date of comment

3(a)(3) Farmers State Corporation, Mountain Lake, Minnesota, for prior Fed Reg - 3/19/98

approval to acquire 100% of the voting shares of Community

Bank New Ulm, New Ulm, Minnesota.*

3(a)(5) Glacier Bancorp, Inc., Kalispell, Montana, for prior approval to Fed Reg - 3/9/98

merge with HUB Financial Corporation, Helena, Montana.*

*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 - Publicly available CRA 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

341851 Clinton State Bank 11/17/97 2/25/98 Satisfactory Small Bank

Clinton, Minnesota

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 February 28, 1998

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 The Pieper Family Limited Partnership, LLLP, Calhan, Colorado; Newspaper - N/Avail

to acquire voting shares of Pieper Bancorp, Inc., Calhan, Fed Reg - 03/17/98

Colorado, and thereby indirectly acquire Farmers State Bank of

Calhan, Calhan, Colorado.

CIC Patrick A. Brooks, Paula Brooks, Stacey Brooks, Shelley Brooks Newspaper - 03/09/98

and Nancy L. Smith, all of Chickasha, Oklahoma; Bruce Murray, Fed Reg - 03/10/98

and Joyce Murray, both of Redmond, Washington; and Stephanie

Brooks Connel, Abilene, Texas; to acquire voting shares of First

Independent Bancorp, Inc., Chickasha, Oklahoma, and thereby

indirectly acquire First National Bank & Trust Company,

Chickasha, Oklahoma.

3(a)(3) Kanbanc, Inc., Overland Park, Kansas, for prior approval to Newspaper - N/Avail

acquire 54.94 percent of the voting shares of State Bank of Fed Reg - 03/20/98

Colony, Colony, Kansas.

3(a)(1) Mid-America Bancorp, Inc., Jewell, Kansas, for prior approval to Newspaper - N/Avail

become a bank holding company through the acquisition of 100 Fed Reg - N/Avail

percent of the voting shares of Heartland Bank, N.A., Jewell,

Kansas.

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 

Membership First State Bank, Anadarko, Oklahoma, for membership in 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

183154 First State Bank 12/01/97 02/26/98 Satisfactory

308 N Main Street

Fairfax, Oklahoma 74637-3025

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 February 28, 1998

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 

SR Notice by Huntington Bancshares, Inc., Huntington, TX, to

repurchase 9,823 shares of its common stock
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 12

Federal Reserve Bank of San Francisco

Applications and Notifications Filed During the Week of February 28, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Barnes Banking Company, Kaysville, Utah, to establish a branch Newspaper - 3/16/98

office at 4800 South 1900 West, Roy, Utah.*

*Subject to the provisions of the Community Reinvestment Act

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

Type Application period

Ending date of comment

CIC Y.C. Yang, John C. Yang, Stephen C. Yang, and Paul C. Yang, all Newspaper 3/14/98

of San Francisco, California, to increase their ownership to more Fed Reg - 3/10/98

than 25 percent of National American Bancorp, San Francisco,

California.*

3(a)(5) Zions Bancorporation, Salt Lake City, Utah, and its subsidiary, Newspaper 3/19/98

Val Cor Bancorporation, Inc., Cortez, Colorado, to acquire SBT Fed Reg - 3/13/98

Bankshares, Inc., and its subsidiary, State Bank and Trust of

Colorado Springs, both of Colorado Springs, Colorado.*

*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) Zions Bancorporation, Salt Lake City, Utah, and its subsidiary, Val Fed Reg - 3/13/98

Cor Bancorporation, Inc., Cortez, Colorado, to acquire SBT

Mortgage, LLC, Colorado Springs, Colorado.
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of

COM First Security Corporation, Salt Lake City, Utah, requests relief of None

commitment that First Security Capital Markets, Inc., Salt Lake City,

Utah, be permitted to come into compliance with the gross revenue

limit for the period March 1, 1998, through March 31, 1999, in

connection with its Section 20 application.

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

54861 Security First Bank 10/28/97 2/25/98 Satisfactory X

141 West Bastanchury Road

Fullerton, CA 92835

(714) 536-0142
Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA Large Small

number Institution/ Location date public date rating bank bank

Exam type

1884140 Verdugo Banking Company 11/03/97 2/26/98 Satisfactory X

500 N. Brand Blvd., Suite 100

Glendale, CA 91203

(818) 549-1000

Footnotes: The above listing has been prepared as a courtesy by the Federal Reserve Bank of San Francisco, and is

not intended to replace formal notices required by statute or regulation; the Reserve Bank assumes no responsibility

for errors or omissions.

Section VI - CRA examinations scheduled Quarter of

Institution Location

None