Federal Reserve Release

H.2

Actions of the Board, Its Staff, 

and the Federal Reserve Banks; 

Applications and Reports Received

No. 28

Week Ending July 12, 2003

Board of Governors of the Federal Reserve System, Washington, DC 20551
H.2 Board Actions July 6, 2003 to July 12, 2003

Testimony And Statements

Monetary Policy Objectives -- statement by Chairman Greenspan before the House 

Committee on Financial Services on July 15, and the Senate Committee on Banking, 

Housing, and Urban Affairs on July 16, 2003.

- Authorized, July 9, 2003 

Natural Gas Supply -- statement by Chairman Greenspan before the Senate Committee 

on Energy and Natural Resources.

- Published, July 10, 2003 

Bank Branches, Domestic

Mainstreet Bank, Bunceton, Missouri -- to establish a branch at 101 Main Street and to 

redesignate as its main office the existing branch at 301 East Broadway, Ashland.

- Approved, July 11, 2003 

Regulations And Policies

Basel Capital Accord -- interagency advance notice of proposed rulemaking to solicit 

public comment on the implementation of the New Basel Capital Accord in the United 

States, and proposal to solicit public comment on draft interagency supervisory guidance 

on internal ratings-based systems and advanced measurement approaches for measuring 

operational risks.

- Approved, July 11, 2003 

Monetary Policy -- report to Congress.

- Authorized, July 8, 2003 

(AC) = Addition or Correction Board - Page 1 of 1
July 6, 2003 to July 12, 2003

BS&R

C&CA

FOMC

RBOPS

IF

OSDM

Banking Supervision and Regulation

Consumer and Community Affairs

Federal Open Market Committee

Reserve Bank Operations and Payment Systems

International Finance

Office of Staff Director for Management

H.2 Actions under delegated authority

Bank Branches, Domestic

AmSouth Bank, Birmingham, Alabama -- to establish a branch at 1420 U.S. Highway 1 

South, St. Augustine, Florida.

- Approved, July 9, 2003 

Atlanta

Colonial Bank, Montgomery, Alabama -- to establish a branch at 900 Village Trail, Port 

Orange, Florida.

- Approved, July 10, 2003 

Atlanta

Comerica Bank, Detroit, Michigan -- to establish a branch at 2615 Lake Lansing, 

Lansing.

- Approved, July 11, 2003 

Chicago

Community Trust Bank, Inc., Pikeville, Kentucky -- to establish branches at 185 

Pasedena Drive, Suite 100, Lexington, and 527 Versailles Road, Frankfort.

- Approved, July 11, 2003 

Cleveland

Eagle Bank and Trust Company, Little Rock, Arkansas -- to establish a branch in a 

shopping center at the northwest corner of Maumelle and Vestal Boulevards, North Little 

Rock.

- Approved, July 10, 2003 

St. Louis

First Florida Bank, Naples, Florida -- to establish a branch at 8801 Tamiami Trail East.

- Approved, July 11, 2003 

Atlanta

Harris Trust and Savings Bank, Chicago, Illinois -- to establish a branch at 352 East 

Illinois Street.

- Approved, July 10, 2003 

Chicago

(AC) = Addition or Correction Delegated - Page 1 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Bank Branches, Domestic

The Northwestern Bank, Chippewa Falls, Wisconsin -- to establish a branch at 2901 

Mall Drive, Eau Claire.

- Approved, July 8, 2003 

Minneapolis

Bank Holding Companies

America Bancshares, Inc., Newport, Minnesota -- to become a bank holding company 

through the acquisition of Sun County Bank, Victorville, California.

- Approved, July 9, 2003 

San Francisco

F.N.B. Corporation, Naples, Florida -- to acquire shares of Sun Bancorp, Inc., 

Lewisburg, Pennsylvania, and Sun Bank.

- Approved, July 11, 2003 

Atlanta

Franklin Bancorp, Inc., dba Sunrise Community Banks, St. Paul, Minnesota -- to 

purchase participations in loans originated by its affiliate banks.

- Approved, July 8, 2003 

Minneapolis

Frederick County Bancorp, Inc., Frederick, Maryland -- to become a bank holding 

company through the acquisition of Frederick County Bank.

- Approved, July 10, 2003 

Richmond

Harrodsburg First Financial Bancorp, Inc., Harrodsburg, Kentucky; and Independence 

Bancorp, New Albany, Indiana -- to acquire I-Bank, Louisville, Kentucky, a de novo 

bank.

- Approved, July 10, 2003 

St. Louis

Lauritzen Corporation, Omaha, Nebraska -- to acquire shares of First National of 

Nebraska, Inc. and thereby acquire shares of its subsidiary banks.

- Withdrawn, July 8, 2003 

Kansas City

(AC) = Addition or Correction Delegated - Page 2 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Bank Holding Companies

Liberty Financial Services, Inc., New Orleans, Louisiana -- to acquire First American 

Bank, Jackson, Mississippi.

- Approved, July 8, 2003 

Atlanta

Mercantile Bankshares Corporation, Baltimore, Maryland -- to merge with F&M 

Bancorp, Frederick; and for F&M's subsidiary bank, Farmers & Mechanics Bank, to 

merge with Mercantile's subsidiary bank, Fredericktown Bank & Trust Company, and to 

purchase certain assets and assume certain liabilities of the Mt. Airy branch of 

Mercantile's subsidiary bank, Westminster Union Bank, Westminster.

- Approved, July 8, 2003 

Secretary

Nexity Financial Corporation, Birmingham, Alabama -- request for relief from a 

commitment.

- Withdrawn, July 8, 2003 

Atlanta

Peoples Bancorp, MHC, Holyoke, Massachusetts -- to become a mutual bank holding 

company through the acquisition of PeoplesBank.

- Approved, July 7, 2003 

Boston

Bank Mergers

Atlantic Central Bankers Bank, Camp Hill, Pennsylvania -- to merge with ACB Bank, 

Carlstadt, New Jersey.

- Approved, July 11, 2003 

Philadelphia

Banks, Foreign

Bank of Cyprus, Nicosia, Cyprus -- to establish a branch in New York, New York.

- Withdrawn, July 9, 2003 

New York

(AC) = Addition or Correction Delegated - Page 3 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Banks, Foreign

Barclays PLC, London, England, and Barclays Bank PLC -- relief from a commitment.

- Granted, July 11, 2003 

Director, BS&R

Change In Bank Control

Clarkfield Holding Company, Clarkfield, Minnesota -- change in bank control.

- Permitted, July 9, 2003 

Minneapolis

Hawthorn Corporation, Mundelein, Illinois -- change in bank control.

- Permitted, July 11, 2003 

Chicago

Horizon BanCorp, Inc., Decatur, Georgia -- to retain control of Horizon BanCorp and 

Horizon Bank.

- Permitted, July 9, 2003 

Atlanta

JBC Bancshares, Inc., Jasper, Georgia -- notices of change in bank control and retention 

of shares of JBC Bancshares and Jasper Banking Company.

- Permitted, July 11, 2003 

Atlanta

TNB Bancorp, Inc., Tuscola, Illinois -- change in bank control.

- Permitted, July 9, 2003 

Chicago

Washington 1st Banco, Inc., Washington, Kansas -- change in bank control

- Permitted, July 8, 2003 

Kansas City

Competitive Factors Reports

Bank of Montgomery County, Wellsville, Missouri -- report on competitive factors of the 

proposed acquisition of the Middleton branch of First Bank, Creve Coeur.

- Submitted, July 11, 2003 

St. Louis

(AC) = Addition or Correction Delegated - Page 4 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Competitive Factors Reports

Citizens Business Bank, Ontario, California -- report on competitive factors of the 

proposed acquisition of Kaweah National Bank, Visalia.

- Submitted, July 11, 2003 

Secretary

Clinton Savings Bank, Clinton, Massachusetts -- report on competitive factors of the 

proposed reorganization into a mutual holding company and transference of assets and 

liabilities to an affiliated stock savings bank. 

- Submitted, July 10, 2003 

Boston

First Financial Bank, Bessemer, Alabama -- report on competitive factors of the 

proposed purchase of loans and assumption of deposits of the Centreville branch of First 

Federal of the South, Sylacauga.

- Submitted, July 9, 2003 

Atlanta

First National Bank of Montana, Inc., Libby, Montana -- report on competitive factors of 

the proposed merger with Montana First National Bank, Kalispell.

- Submitted, July 8, 2003 

Minneapolis

First National Bank of the Pine Belt, Laurel, Mississippi -- report on competitive factors 

of the proposed merger with First National Bank of Southern Mississippi, Hattiesburg.

- Submitted, July 9, 2003 

Atlanta

First National Bank, Ft. Pierre, South Dakota -- report on competitive factors of the 

proposed merger with Arapahoe Bank and Trust, Englewood, Colorado.

- Submitted, July 10, 2003 

Minneapolis

First State Bank of Fort Lauderdale, Fort Lauderdale, Florida -- report on competitive 

factors of a proposed change in bank control.

- Submitted, July 9, 2003 

Atlanta

(AC) = Addition or Correction Delegated - Page 5 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Competitive Factors Reports

Keystone Savings Bank, Bethlehem, Pennsylvania -- report on competitive factors of the 

proposed merger with Nazareth National Bank and Trust Company, Nazareth.

- Submitted, July 8, 2003 

Philadelphia

Rural American Bank-East Grand Forks, East Grand Forks, Minnesota -- report on 

competitive factors of the proposed merger with Community National Bank of Grand 

Forks, Grand Forks, North Dakota.

- Submitted, July 11, 2003 

Minneapolis

Sharon Savings Bank, Darby, Pennsylvania -- report on competitive factors of the 

proposed merger with Sharon Interim Two as part of a mutual holding company 

conversion and reorganization.

- Submitted, July 8, 2003 

Philadelphia

Siwooganock Bank, Lancaster, New Hampshire -- report on competitive factors of the 

proposed merger with The Siwooganock Interim Bank.

- Submitted, July 7, 2003 

Boston

Univest National Bank and Trust Co., Souderton, Pennsylvania -- report on competitive 

factors of the proposed merger with Suburban Community Bank, Chalfont.

- Submitted, July 10, 2003 

Philadelphia

World Financial Network National Bank, Gahanna, Ohio -- report on competitive factors 

of the proposed purchase of assets and assumption of liabilities of Granite National Bank, 

Bowling Green.

- Submitted, July 9, 2003 

Cleveland

(AC) = Addition or Correction Delegated - Page 6 of 7
H.2 Actions under delegated authority July 6, 2003 to July 12, 2003

Financial Holding Companies

Blue Ridge Bankshares, Inc., Luray, Virginia -- election to become a financial holding 

company.

- Effective, July 11, 2003 

Richmond

International Operations

Key Equipment Finance International Inc., Superior, Colorado -- to make an investment 

in its subsidiary, Key Equipment Finance Finland Oy, Helsinki, Finland.

- Approved, July 9, 2003 

Cleveland

Wachovia Bank, National Association, Charlotte, North Carolina -- to amend the articles 

of association of its Edge corporation subsidiary, Wachovia International Banking 

Corporation.

- Approved, July 10, 2003 

Richmond

(AC) = Addition or Correction Delegated - Page 7 of 7
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

Reg K State Street International Holdings, Boston, Massachusetts – to 

make investments in International Fund Services (Ireland) 

Limited, Dublin, Ireland and Offshore Financial Solutions, Ltd., 

Cayman Island
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 2

Federal Reserve Bank of New York

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch HBOS Treasury Services PLC, London, England, to establish a 

branch office at 565 Fifth Avenue, New York, New York.

Newspaper – N/A

Branch Gjensidige Nor Sparebank ASA, Oslo, Norway, to establish a 

branch office at 200 Park Avenue, New York, New York.

Newspaper – N/A

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 3

Federal Reserve Bank of Philadelphia

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 4

Federal Reserve Bank of Cleveland

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Notification by the Ohio Heritage Bank, Coshocton, Ohio, to 

establish a branch at 113 Fourth Street, NW, New Philadelphia, 

Ohio.

Newspaper - 06/28/2003

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

4(c)(8) KeyCorp, a financial holding company, Cleveland, Ohio, 

requests approval to retain its current investments in and expand 

community development investments up to 15 percent of its total 

consolidated capital stock and surplus, pursuant to section 

4(c)(8) of the Bank Holding Company Act, under the 

"Procedures for non banking proposals" as described in section 

225.24 of Regulation Y.

Fed Register - 07/15/2003

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Albemarle First Bank, Charlottesville, Virginia, to establish a 

branch in the General Electric Fanuc Office Park located at 

Route 29 North and Highway 606, Charlottesville, Virginia.*

Newspaper – 07/22/2003

Branch First Charter Bank, Charlotte, North Carolina, to establish a 

branch at the intersection of Highways 16 and 73, Denver, North 

Carolina.*

Newspaper – 07/25/2003

18(c) Second Bank & Trust, Culpeper, Virginia, to purchase certain 

assets and assume certain liabilities of the Woodstock, Virginia, 

branch office of First Virginia Bank-Blue Ridge, Staunton, 

Virginia*

Newspaper – 08/11/2003

18(c) Planters Bank and Trust Company of Virginia, Staunton, 

Virginia, to purchase certain assets and assume certain liabilities 

of two branch offices located in Covington, Virginia; one 

located in Rocky Mount, Virginia; one located in Wirtz, 

Virginia; one located in Tazewell, Virginia; and one located in 

Cedar Bluff, Virginia, of First Virginia Bank-Southwest, 

Roanoke, Virginia; and the Farmville, Virginia, branch office of

First Virginia Bank-Colonial, Richmond, Virginia.*

Newspaper – 08/11/2003 

*Subject to the provisions of the Community Reinvestment Act.

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

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

Type Application

3(a)(1) DeKalb Bankshares, Inc., Camden, South Carolina, to become 

a bank holding company through the acquisition of 100% of the 

voting shares of Bank of Camden, Camden, South Carolina.

Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

658924 Farmers & Miners Bank

403 West Morgan Avenue

Pennington Gap, Virginia 24277

04/21/2003 07/06/2003 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 6

Federal Reserve Bank of Atlanta

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Compass Bank, Birmingham, Alabama, to establish a branch 

located at the intersection of Antoine Drive and Tomball 

Parkway (Highway 249), Houston, Texas, to be known as the 

Houston – Antoine Branch.*

Newspaper-07/17/2003

Branch Regions Bank, Birmingham, Alabama, to establish a branch 

located at 1425 East Mitchell Hammock Road, Oviedo, 

Florida.*

Newspaper-07/11/2003

18(c) Red River Bank, Alexandria, Louisiana, to merge with Bank of 

Lecompte, Lecompte, Louisiana.*

Newspaper-08/03/2003

*Subject to provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

3(a)(1) Citizens Banking Corporation, Frostproof, Florida, to become a 

bank holding company by acquiring 100 percent of the 

outstanding shares of Citizens Bank of Frostproof, Frostproof, 

Florida.*

Newspaper-N/Avail

Fed Reg-08/08/2003

3(a)(1) Federation de caisses Desjardins du Quebec, Levis, Quebec, 

Canada, to become a bank holding company by acquiring 100 

percent of the outstanding shares of Desjardins Bank, N.A., 

Hallandale, Florida (upon conversion from an FSB).*

Newspaper-07/31/2003

Fed Reg-07/25/2003

3(a)(1) La Caisse centrale Desjardins du Quebec, Montreal, Quebec, 

Canada, to become a bank holding company by acquiring 100 

percent of the outstanding shares of Desjardins Bank, N.A., 

Hallandale, Florida (upon conversion from an FSB).*

Newspaper-07/31/2003

Fed Reg-07/25/2003

3(a)(1) Desjardins FSB Holdings, Inc., Wilmington, Delaware, to 

become a bank holding company by acquiring 100 percent of the 

outstanding shares of Desjardins Bank, N.A., Hallandale, 

Florida (upon conversion from an FSB).*

Newspaper-07/31/2003

Fed Reg-07/25/2003
Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(1) The Desjardins Group, Montreal, Quebec, Canada, to become a 

bank holding company by acquiring 100 percent of the 

outstanding shares of Desjardins Bank, N.A., Hallandale, 

Florida (upon conversion from an FSB).* 

Newspaper-07/31/2003

Fed Reg-07/25/2003

3(a)(3) Liberty Shares, Inc., Hinesville, Georgia, to acquire 100 percent 

of the outstanding shares of Cumberland National Bank, St. 

Marys, Georgia.*

Newspaper-08/08/2003

Fed Reg-08/07/2003

3(a)(3) Red River Bancshares, Inc., Alexandria, Louisiana, to acquire 

100 percent of the outstanding shares of Bank of Le compte, 

Lecompte, Louisiana.*

Newspaper-08/03/2003

Fed Reg-08/07/2003

*Subject to provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

COM Integrity Bancshares, Inc., Alpharetta, Georgia, commitment 

waiver request.
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

461870 Cavalry Bank

Post Office Box 188

Murfreesboro, Tennessee 37133-0188

(615) 893-1234

03/17/2003 07/07/2003 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 7

Federal Reserve Bank of Chicago

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Pacific Global Bank, Chicago, Illinois, to establish a branch 

facility to be located at 2156A S. Archer Avenue, Chicago, 

Illinois.*

Newspaper – 07/13/2003

* Subject to the provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

CIC Notice by Harry S. Coin, Moline, Illinois, to acquire control of 

more than 25 percent of the outstanding shares of Ambank 

Holdings, Inc., Rock Island, Illinois, and thereby indirectly 

acquire American Bank & Trust Company, N.A., Davenport, 

Iowa.

Fed Reg – N/Avail

Newspaper – N/Avail

3(a)(1) East Dubuque Bancshares, Inc., Dubuque, Iowa, to become a 

bank holding company when its subsidairy, East Dubuque 

Savings Bank, East Dubuque, Illinois, converts from a federal 

savings bank to a state chartered bank.*

Fed Reg – N/Avail

Newspaper – N/Avail

CIC Notice by Daniel A. Hamann, Omaha, Nebraska, Esther 

Hamann Brabec, Omaha, Nebraska, and Julie Hamann 

Bunderson, Elkhorn, Nebraska, both "acting in concert" and 

each individually to gain control of Grest Western 

Bancorporation, Inc., Omaha, Nebraksa.

Fed Reg – N/Avail

Newspaper – N/Avail

3(a)(3) Heartland Financial USA, Inc., Dubuque, Iowa, to acquire 80 

percent of Arizona Bank & Trust (in organization), Mesa, 

Arizona.*

Fed Reg – 07/28/2003

Newspaper – 07/28/2003
Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

3(a)(1) Kankakee Bancorp, Inc., Kankakee, Illinois, to become a bank 

holding company by merging with Aviston Financial 

Corporation, Aviston, Illinois, and thereby indirectly acquiring 

100 percent of the voting shares of State Bank of Aviston, 

Aviston, Illinois; to retain control of KFS Bank, F.S.B., 

Kankakee, Illinois, and thereby operate a savings association; to 

engage in real estate appraisal services through KFS Service 

Corp., Kankakee, Illinois, a wholly-owned subsidiary of KFS 

Bank F.S. B., Kankakee, Illinois, and to engage in securities 

brokerage activities through KFS Insurance Agency, Inc., 

Kankakee, Illinois, a wholly-owned subsidiary of KFS Service 

Corp., Kankakee, Illinois, which is a wholly-owned subsidiary 

of KFS Bank, F.S.B., Kankakee, Illinois.*

Fed Reg – 07/12/2003

Newspaper – N/Avail

CIC Notice by Scott and Nancy Taylor, Estherville, Iowa, to acquire 

an additional 42,500 shares of NorthStar Bancshares, Inc., 

Estherville, Iowa, and thereby increase their ownership from 

2.67% to 15.44%.

Fed Reg – 07/21/2003

Newspaper – N/Avail

3(a)(3) Oswego Community Bank Employee Stock Ownership Plan, 

Oswego, Illinois, to increase their ownership from 32.96 percent 

to 51 percent of Oswego Bancshares, Inc., Oswego, Illinois, and 

thereby indirectly acquire Oswego Community Bank, Owsego, 

Illinois.*

Fed Reg – N/Avail

Newspaper – N/Avail

* Subject to the provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

4(c)(8) Hinsbrook Bancshares, Inc., Willowbrook, Illinois, proposes to 

engage de novo in lending activities and thereby to make a loan 

to an employee stock ownership plan being established for the 

benefit of the employees.
Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

4(c)(8) Midamerica Financial Corporation, Des Moines, Iowa, proposes 

to engage denovo in investment advisory activities through 

Midamerica Investment Advisory Group, Inc., Des Moines, 

Iowa.

Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

676245 Security State Bank

201 W. Broadway

Eagle Grove, Iowa 50533

(515) 448-5111

03/03/2003 07/08/2003 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 8

Federal Reserve Bank of St. Louis

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

CIC Notice by Farbod S. Zohouri, Flowery Branch, Georgia, to gain 

control of Texico Bancshares Corporation, Texico, Illinois.

Newspaper – 07/31/2003

Fed Reg – N/Avail

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 9

Federal Reserve Bank of Minneapolis

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

CIC Retroactive Change in control notice by the Gary M. McKellips 

Revocable Trust and the Debra K. McKellips Revocable Trust, 

to retain control of First State Banking Corp. Alcester, South 

Dakota, and thereby indirectly retain control of State Bank of 

Alcester, Alcester, South Dakota.

Fed Reg- 07/21/03

Newspaper- N/Avail

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 10

Federal Reserve Bank of Kansas City

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

3(a)(3) Lauritzen Corporation, Omaha Nebraska, to acquire up to 28 

percent of the voting shares of First National of Nebraska, Inc., 

Omaha, Nebraska, parent of First National Bank of Omaha, 

Omaha, Nebraska; First National Bank & Trust Company of 

Columbus, Columbus, Nebraska; First National Bank, North 

Platte, Nebraska; First National Bank South Dakota, Yankton, 

South Dakota; Platte Valley State Bank & Trust Company, 

Kearney, Nebraska; Fremont National Bank & Trust Company, 

Fremont, Nebraska; First National Bank of Kansas, Overland 

Park, Kansas; First National of Colorado, Inc., Fort Collins, 

Colorado; First National Bank, Fort Collins, Colorado; First 

National Bank of Colorado, Boulder, Colorado; Union Colony 

Bank, Greeley, Colorado; First National of Illinois, Omaha, 

Nebraska; and Castle Bank N.A., Dekalb, Illinois.

Newspaper - 08/04/2003

Fed Reg - 08/02/2003

CIC Notice by Sandra Kathleen Morris, Tulsa, Oklahoma, to acquire 

control of Green Country Bancorporation, Inc., Ketchum, 

Oklahoma, parent of The First State Bank, Ketchum, Oklahoma.

Newspaper - 07/23/2003

Fed Reg - 07/25/2003

CIC Notice by the 2003 Voting Trust Agreement and its trustees: 

Forest Levan Kelly, Oliver Tracy Kelly, and Albert Charles 

Kelly of Bristow, Oklahoma; William Royce Kelly, Tulsa, 

Oklahoma; and Allison Asbury Kelly, Okemah, Oklahoma, to 

acquire control of Spirit Bankcorp, Inc., Bristow, Oklahoma, 

parent of SpiritBank, Tulsa, Oklahoma.

Newspaper - 06/23/2003

Fed Reg - 06/23/2003
Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None

Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

696056 Citizens Bank & Trust Company

101 E. 6th Street

Okmulgee, Oklahoma 74447-4603

04/14/2003 07/09/2003 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 11

Federal Reserve Bank of Dallas

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

18C Tradition Bank, Houston, TX, to acquire First National Bank of 

Bellaire, Houston, TX*

Newspaper - 07/31/2003

Branch Tradition Bank, Houston, TX, to establish a branch at 5501 

Bissonnet, Houston, TX 77081*

Newspaper - 07/31/2003

*Subject to the provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

3(a)(3) Industry Bancshares, Inc., Industry, TX, and Industry Holdings, 

Inc., Wilmington, DE, to acquire Fayetteville Bancshares, Inc., 

Fayetteville, TX, and Fayetteville Bank, Fayetteville, TX*

(previously reported the week ending June 28, 2003)

Fed Reg – 07/25/2003

Newspaper – 07/28/2003

* Subject to the provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

268257 Community Bank

500 South Morgan

Granbury, Texas 76048

12/02/2002 07/12/2003 S X

178561 Sun Bank

416 Main Street

Sunray, Texas 79086

04/07/2003 07/12/2003 S X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 12

Federal Reserve Bank of San Francisco

Applications and notifications filed during the week ending Saturday, July 12, 2003

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Hanmi Bank, Los Angeles, California, to establish a branch 

office at 21076 Golden Springs Boulevard, Diamond Bar, 

California.*

Newspaper – 07/15/2003

Branch Sunstate Bank, Casa Grande, Arizona, to establish a branch 

office at 902 W. Rex Allen Drive, Willcox, Arizona.*

Newspaper – 07/11/2003

* Subject to the provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

3(a)(3) Heritage Oaks Bancorp, Paso Robles, California, to acquire 100 

percent of Hacienda Bank, Santa Maria, California.*

Newspaper – N/Avail Fed 

Reg – 08/11/2003

3(a)(5) Cathay Bancorp, Inc., Los Angeles, California, to merge with 

GBC Bancorp, Los Angeles, California, and thereby indirectly 

acquire its wholly-owned subsidiary, General Bank, Los 

Angeles, California.*

Newspaper – 08/02/2003

Fed Reg – 08/07/2003

CIC Notice by Robert Lee McKean, North Plains, Oregon, to 

increase his ownership in Albina Community Bancorp, Portland, 

Oregon.*

Newspaper – N/Avail Fed 

Reg – 07/17/2003

* Subject to the provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

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

Type Application

None

Section V – Availability of CRA public evaluations

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

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

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

was revised in May 1995.

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

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

for deposit facilities.

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

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

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

33772 Placer Sierra Bank

649 Lincoln Way

Auburn, CA 95603

(530) 823-7777

03/03/2003 07/09/2003 S X

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 for Quarter of

Institution Location

None