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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 8

Week Ending February 21, 1998

Federal Reserve Release

H.2

Applications and Reports Received
No. 8

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Monetary policy objectives -- statement by Chairman Greenspan before the

Subcommittee on Domestic and International Monetary Policy of the House

Committee on Banking and Financial Services, February 24, and the Senate

Committee on Banking, Housing, and Urban Affairs, February 25, 1998.

- Authorized, February 18, 1998 

TESTIMONY AND STATEMENTS

Monetary policy report. -- Monetary policy report to the Congress.

- Approved, February 17, 1998 

Indiana United Bancorp, Greenburg, Indiana -- to acquire P.T.C. Bancorp,

Brookville, Indiana, and Peoples Trust Company.

- Approved, February 17, 1998 

BANK HOLDING COMPANIES

WestStar Bank, Bartlesville, Oklahoma -- to merge with Victory Bank of Nowata,

Nowata, Oklahoma, and to establish a branch.

- Approved, February 18, 1998 

BANK MERGERS

Annual Report of Bank Holding Companies (FR Y-6) -- extension, with revision.

- Proposed, February 20, 1998 

FORMS

Central Bank Survey of Foreign Exchange and Derivatives Market Activity (FR

3036) -- to conduct triennial survey.

- Approved, February 17, 1998 

Notice Claiming Status as an Exempt Transfer Agent (FR 4013) -- extension,

without revision.

- Proposed, February 20, 1998 

Proposed Stock Redemption Notification (FR 4008) -- extension, without revision.

- Proposed, February 20, 1998 

Report of Derivatives Activity (FR 2436) -- to implement a new semiannual survey.

- Approved, February 17, 1998 

Survey of Consumer Finances (FR 3059) -- to conduct the sixth triennial survey.

- Approved, February 17, 1998 
H.2

February 15, 1998 to February 21, 1998

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Page 2

Transfer Agent Registration and Amendment Form (FR TA-1) -- extension,

without revision.

- Approved, February 17, 1998 
H.2

February 15, 1998 to February 21, 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

Bryon Center State Bank, Bryon Center, Michigan -- to establish a branch at 10500

Chicago Drive, Zeeland, Michigan.

- Approved, February 17, 1998 

BANK BRANCHES, DOMESTIC

Chicago

Colonial Bank, Montgomery, Alabama -- to establish a branch at Lot 3 of Spruce

Creek Business Center 2, U.S. Highway 27/441 West, Summerfield, Florida.

- Approved, February 18, 1998 

Atlanta

Farmers and Merchants Bank, Rogers, Arkansas -- to relocate its main office to 500

West Walnut, and to retain its existing main office at 401 West Chestnut as a branch.

- Approved, February 18, 1998 

St. Louis

Cornhusker Growth Corporation, Lincoln, Nebraska -- to acquire Johnston Growth

Corporation, Johnston, Iowa, and Charter Bank, a de novo thrift institution.

- Approved, February 20, 1998 

BANK HOLDING COMPANIES

Kansas City

F & M Bancorporation, Inc., Kaukauna, Wisconsin -- to acquire BancSecurity

Corporation, Marshalltown, Iowa, and Security Bank, Jasper-Poweshief, Kellogg,

Iowa, Security Bank, Marshalltown; and Story County Bank & Trust Company,

Story City, Iowa.

- Approved, February 19, 1998 

Chicago

First National Corporation, Orangeburg, South Carolina -- to acquire Florence

County National Bank, Florence, South Carolina.

- Approved, February 19, 1998 

Richmond
H.2

February 15, 1998 to February 21, 1998

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First United Bancshares, Inc., El Dorado, Arkansas -- to acquire shares of EFT

Network Services, Inc., Little Rock, Arkansas, and engage in data processing

activities.

- Permitted, February 17, 1998 

St. Louis

FMCB Holdings, Inc., Senoia, Georgia -- to acquire Merchants Community Bank.

- Approved, February 20, 1998 

Atlanta

Forstrom Bancorporation, Inc., Clara City, Minnesota -- to acquire First Valley

Bankcorp, Seeley Lake, Montana.

- Approved, February 19, 1998 

Minneapolis

Hibernia Corporation, New Orleans, Louisiana -- to merge with Firstshares of Texas,

Inc., Marshall, Texas, Firstshares Intermediate Holding Company, Inc., and First

National Bank.

- Approved, February 20, 1998 

Atlanta

J.P. Morgan & Co., Inc., New York, New York -- request for relief from two

commitments made in connection with an indirect investment in Banco Espanol de

Credito, S.A., Madrid, Spain, through Corsair Partnership, L.P.

- Granted, February 20, 1998 

Director, BS&R

Lincoln Interim Corporation, Lincolnton, Georgia -- to acquire Lincoln Bancshares.

- Approved, February 19, 1998 

Atlanta

Mainbancorp, Austin, Texas -- to acquire First National Bancorporation, Ennis,

Texas, and First National Bank of Ennis.

- Approved, February 20, 1998 

Dallas
H.2

February 15, 1998 to February 21, 1998

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Maincorp Intermediate Holding Company, Inc., Wilmington, Delaware -- to merge

with First National Bancorporation, Ennis, Texas. 

- Approved, February 20, 1998 

Dallas

MainStreet BankGroup Incorporated, Martinsville, Virginia -- to acquire Regency

Financial Shares, Inc., Richmond, Virginia.

- Approved, February 18, 1998 

Richmond

Mercantile Bankshares Corporation, Baltimore, Maryland -- to acquire Marshall

National Bank and Trust Company, Marshall, Virginia.

- Approved, February 20, 1998 

Richmond

National City Bancshares, Inc., Evansville, Indiana -- to acquire Vernon Bancshares,

Inc., Mount Vernon, Illinois, and Bank of Illinois.

- Approved, February 17, 1998 

St. Louis

National City Corporation, Cleveland, Ohio -- to acquire American Mortgage

Source, Inc., Nashville, Tennessee, and engage in residential real estate mortgage

lending activities.

- Permitted, February 19, 1998 

Secretary

Niagara Bancorp, MHC, Lockport, New York -- to acquire Niagara Bancorp, Inc.,

and Lockport Savings Bank.

- Approved, February 20, 1998 

Secretary

Peoples BancTrust Company, Inc., Selma, Alabama -- to merge with Merchants &

Planters Bancshares, Inc., Montevallo, Alabama, and acquire Merchants & Planters

Bank.

- Approved, February 19, 1998 

Atlanta
H.2

February 15, 1998 to February 21, 1998

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Farm Credit Services of the Midlands, FLCA, Omaha, Nebraska -- registration under

Regulation G.

- Approved, February 17, 1998 

BANKS, NONMEMBER, AND MISCELLANEOUS INSTITUTIONS

Kansas City

Dewitt First Bankshares Corporation, Dewitt, Arkansas -- change in bank control.

- Permitted, February 19, 1998 

CHANGE IN BANK CONTROL

St. Louis

Equitable Bank, Fort Lauderdale, Florida -- change in bank control.

- Permitted, February 19, 1998 

Atlanta

Flint Hills Bancshares, Inc., Gridley, Kansas -- change in bank control.

- Permitted, February 18, 1998 

Kansas City

Bank One, Illinois, N.A., Springfield, Illinois -- report on competitive factors of the

proposed purchase of the assets and assumption of the liabilities of the non-fiduciary

business of Bank One, Quad Cities, N.A., Moline, Illinois.

- Submitted, February 17, 1998 

COMPETITIVE FACTORS REPORTS

Cleveland

Bank One, Quad Cities, N.A., Moline, Illinois -- report on the proposed merger with

Bank One Trust Company, N.A. , Columbus, Ohio.

- Submitted, February 17, 1998 

Cleveland

Citizens National Bank in Sevierville, Sevierville, Tennessee -- report on competitive

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

three Sevier County branches of NBC Bank, F.S.B., Knoxville, Tennessee.

- Submitted, February 18, 1998 

Atlanta
H.2

February 15, 1998 to February 21, 1998

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Citizens National Bank of Chillicothe, Chillicothe, Ohio -- report on competitive

factors of the proposed merger with The CNB Interim Bank.

- Submitted, February 17, 1998 

Cleveland

First Bank of California, Roseville, California -- report on competitive factors of the

proposed exchange of branches with First Bank & Trust, Irvine, California.

- Submitted, February 20, 1998 

San Francisco

First Century Bank, National Association, Bluefield, West Virginia -- report on

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

certain liabilities of the Bluefield branch of First American Savings Bank, Roanoke,

Virginia.

- Submitted, February 17, 1998 

Richmond

First National Bank of Pecos, Pecos, Texas -- report on competitive factors of the

proposed acquisition of the assets and assumption of the liabilities of a branch at 100

East Avenue, Kermit, of Western National Bank, Kermit, Texas

- Submitted., February 19, 1998 

Dallas

Imperial Bank, Englewood, California -- report on competitive factors of the

proposed merger with Imperial Financial Group, Inc.

- Submitted, February 17, 1998 

San Francisco

Lockport Savings Bank, Lockport, New York -- report on competitive factors

concerning its reorganization and conversion into a mutual holding company

conversion 

- Submitted, February 20, 1998 

Secretary
H.2

February 15, 1998 to February 21, 1998

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Milford Bank, National Association, Milford, Massachusetts -- report on competitive

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

Milford National Bank and Trust Company.

- Submitted, February 20, 1998 

Boston

Prime Bank. Houston, Texas -- report on competitive factors of the proposed merger

with Sunbelt National Bank.

- Submitted, February 19, 1998 

Dallas

Republic Bank, F.S.B., St. Petersburg, Florida -- report on competitive factors of the

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

Georgia, branch of Barnett Bank, N.A., Jacksonville, Florida.

- Submitted, February 18, 1998 

Atlanta

Sunbelt National Bank, Houston, Texas -- report on competitive factors of the

proposed merger with New Prime Bank.

- Submitted, February 19, 1998 

Dallas

Whitney National Bank, New Orleans, Louisiana -- report on competitive factors of

the proposed merger with MeriTrust Federal Savings Bank, Thibodaux, Louisiana.

- Submitted, February 18, 1998 

Atlanta

First State Financial Corporation, Sarasota, Florida -- extension to May 19, 1998, to

acquire First State Bank.

- Granted, February 19, 1998 

EXTENSIONS OF TIME

Atlanta
H.2

February 15, 1998 to February 21, 1998

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

North Shore Bancorp, Peabody, Massachusetts -- extension of time to become a

bank holding company through reorganization of North Shore Bank, A Co-operative

Bank.

- Granted, February 17, 1998 

Boston

O.A.K. Financial Corporation, Byron Center, Michigan -- extension to May 21,

1998, to acquire shares of Caledonia Financial Corporation, Caledonia, Michigan,

and State Bank of Caledonia.

- Granted, February 19, 1998 

Chicago

WNB Bancshares, Inc., Odessa, Texas -- extension to May 19, 1998, to acquire City

National Bank, Austin, Texas.

- Granted, February 19, 1998 

Dallas
H.2

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Additions/Corrections

Regulation C -- request for comment on amendment concerning the year 2000 data

systems conversion and other technical changes (Docket R-0999).

- Approved, February 17, 1998 

REGULATIONS AND POLICIES
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of February 21, 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 

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 February 21, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch European American Bank, New York, New York, to establish 3/20/98

branch offices at the following Edward supermarket locations: 1)

1108 Route 112, Port Jefferson, New York; 2) 248 East Sunrise

Highway, Freeport, New York; 3) 60 Loehmann Plaza, Lake

Grove, New York; and 4) 603 Burnside Avenue, Inwood, New

York.*

*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) North Fork Bancorporation, Melville, New York, to acquire up to Newspaper - 3/16/98 1/

9.9 percent of the common shares of Long Island Bancorp, Inc.,

Melville, New York.

1/ Date specified in newspaper notice; a later date may be specified in the Federal Register notice.

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 3

Federal Reserve Bank of Philadelphia

Applications and notifications filed during the week of February 21, 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 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 4

Federal Reserve Bank of Cleveland

Applications and notifications filed during the week of February 21, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18C Received application from Richwood Banking Company, 3/18/98

Branch Richwood, OH on February 19, 1998, to acquire the LaRue, OH

branch of National City Bank of Columbus, Columbus, OH.

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

Type Application comment period

Ending date of 

3A3 Received application from First Citizens Banc Corp, Sandusky, Fed Reg - 3/19/98

OH on February 13, 1998, to acquire The Farmers State Bank of

New Washington, New Washington, OH.

3A3 Received application from Traditional Bancorporation, Inc., Mt. Fed Reg - 3/16/98

Sterling, KY on February 17, 1998, to acquire Traditional Bank of

Kentucky, Inc., Lexington, KY.

3A3 Received application from Citizens Bancshares, Inc., Salineville, Newspaper - 3/19/98

OH on February 18, 1998, to acquire Century Financial

Corporation, Rochester, PA.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

3A1 Received notice from Laurel Bancorp, Inc., London, KY on February None

17, 1998, of its intent to form a bank holding company by acquiring

Laurel National Bank, London, KY.
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

820310 Community First Bank & Trust 5/20/97 2/20/98 Satisfactory Large Bank

Company

225 North Main Street

Celina, OH 45822

1017425 The Killbuck Savings Bank Co. 9/8/97 2/21/98 Outstanding Small Bank

P.O. Box 407

Killbuck, OH 44637
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 21, 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 

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

1495331 Rockingham Heritage Bank 12-8-97 2-13-98 Outstanding SB

110 University Boulevard

Harrisonburg, Virginia 22801

1466050 First Virginia Bank - Commonwealth 10-6-97 2-14-98 Satisfactory LB

4360 George Washington Memorial

 Highway

Grafton, Virginia 23692-2707

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 21, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18C The Peoples Bank and Trust Company, Selma, Alabama, to merge 03/19/98

with Merchants & Planters Bank, Montevallo, 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., St. Petersburg, Florida, to acquire N/Avail

Republic Bank, F.S.B., St. Petersburg, Florida (in organization), and

thereby engage de novo in operating a savings association.*

3(a)(1) Community Bank Capital Corporation, Alpharetta, Georgia, to N/Avail

become a bank holding company by acquiring Bank of North Georgia,

Alpharetta, Georgia.*

3(a)(3) First American Corporation, Nashville, Tennessee, to acquire Victory N/Avail

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

Company, Cordova, Tennessee.*

*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

701736 The Brand Banking Company 11-06-97 02-16-98 Satisfactory Small Bank
Section VI - CRA examinations scheduled for 2nd Quarter of 1998

Institution Location

Colonial Bank Montgomery, Alabama

Bank of Alabama Birmingham, Alabama

The Community Bank Nashville, Tennessee

Southeastern Bank of Florida Alachua, Florida

Bank of Dadeville Dadeville, Alabama

SunTrust Bank, Gulf Coast Sarasota, Florida

Rapides Bank & Trust Company in Alexandria Alexandria, Louisiana

SunTrust Bank, North Central Florida Ocala, Florida

First Southern Bank Boca Raton, Florida
District 7

Federal Reserve Bank of Chicago

Applications and notifications filed during the week of February 21, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Irwin Union Bank & Trust Company Newspaper - 2/21/98

Columbus, Indiana

 10800 East U.S. Highway 36, Building C

 Avon, Indiana

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 Swea City Bancorporation, Inc. Fed Red - 2/24/98

Swea City, Iowa Newspaper - 2/27/98

 By Craig W. Sandahl

3(a)(1) Little Sioux Bancshares, Inc.* Fed Reg - 3/9/98

Sioux Rapids, Iowa Newspaper - 3/13/98

 First State Bank

 Sioux Rapids, Iowa

3(a)(3) First Midwest Bancorp, Inc.* Fed Reg - 3/20/98

Itasca, Illinois Newspaper - N/Avail

 Heritage Financial Services, Inc.

 Tinley Park, Illinois

 Heritage Bank

 Blue Island, Illinois

Fed Reg - Federal Register Comment Period Ending Date

Newspaper - Newspaper Comment Period Ending Date

N/Avail - Not available at this time

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

Type Application comment period

Ending date of 

4(c)(8) First Chicago NBD Corporation Fed Reg - 3/11/98

Chicago, Illinois

 Roney & Co., L.L.C., a limited liability company

 Detroit, Michigan

4(c)(8) First Midwest Bancorp, Inc. Fed Reg - 3/20/98

Itasca, Illinois

 Heritage Trust Company

 Tinley Park, Illinois

Fed Reg - Rederal Register Comment Period Ending Date

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 8

Federal Reserve Bank of St. Louis

Applications and notifications filed during the week of February 21, 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 Notice involving Brinkley Bancshares, Inc., Brinkley, Arkansas, Fed Reg - 3/10/98

by the Gus Rusher Family Limited Partnership, Brinkley,

Arkansas (previously reported during the week of February 9,

1998).

CIC Notice involving P & W Bancshares, Inc., Little Rock, Arkansas, N/Avail

by South Beach Limited Partnership, Little Rock, Arkansas.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

3(a)(5) Notice by Founders Bancshares, Inc., Chesterfield, Missouri, to Not applicable

acquire Founders Bank, Chesterfield, Missouri.
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 9

Federal Reserve Bank of Minneapolis

Applications and Notifications Filed During the Week of February 21, 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)(1) N.A. Corporation, Roseville, Minnesota, for prior approval to become N/Avail

3(a)(3) Norwest Corporation, Minneapolis, Minnesota, for prior approval to March 23, 1998

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

voting shares of North American Banking Company, Roseville,

Minnesota, a de novo bank.*

acquire 100% of the voting shares of First Bank, Katy, Texas.* (Fed Reg)

* 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

Member North American Banking Company, Roseville, Minnesota, a 

 de novo bank, for prior approval to become a member of the

 Federal Reserve System.

4(c)(13) Norwest Corporation, Minneapolis, Minnesota; Norwest 

 Financial Services, Inc., Des Moines, Iowa; and Norwest

 Financial, Inc., Des Moines, Iowa, to acquire, indirectly 

 through Norwest Financial Capital Canada, Inc., 100% of the

 shares of The T. Eaton Acceptance Co. Limited, Don Mills,

 Ontario, Canada, and National Retail Credit Services Limited,

 Don Mills, Ontario, Canada.

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

None
Section VI - CRA examinations scheduled Quarter of

Institution Location

None
District 10

Federal Reserve Bank of Kansas City

Applications and notifications filed during the week of February 21, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Vectra Bank of Denver, Denver, Colorado, for prior approval to Newspaper - 03/15/98

establish a branch at 2011 Ken Pratt Boulevard, Longmont,

Colorado.

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

Type Application comment period

Ending date of 

3(a)(3) BancFirst Corporation, Oklahoma City, Oklahoma, for prior Newspaper - 03/18/98

approval to acquire 100 percent of the voting shares of Lawton Fed Reg - 03/20/98

Security Bancshares, Inc., Lawton, Oklahoma; and thereby

indirectly acquire Security Bank & Trust Company, Lawton,

Oklahoma.

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

to retain voting shares of Pieper Bancorp, Inc., Calhan, Colorado; Fed Reg - N/Avail

and thereby indirectly retain control of Farmers State Bank of

Calhan, Calhan, Colorado.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

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

Type Application comment period

Ending date of 

3(a)(1) MBT Bancshares, Inc., Kansas City, Missouri, for prior approval to

become a bank holding company through the acquisition of 100

percent of the voting shares of Missouri Bank & Trust Company,

Kansas City, Missouri.

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

87159 First State Bank of Newcastle 11/17/97 02/17/98 Satisfactory

24 N. Sumner Avenue

Newcastle, Wyoming 82701-2138 

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 21, 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)(1) First Azle Bancshares, Inc., Employee Stock Ownership Plan, Newspaper - 3/14/98

Azle, TX, to acquire First Azle Bancshares, Inc., Azle, TX, and

First Bank, Azle, TX*

*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 

24A Notice by Colorado Valley Bank, La Grange, TX, to increase its

investment in bank premises

SR Notice by First Azle Bancshares, Inc., Azle, TX, to repurchase

397,307 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 21, 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

CIC Y.C. Yang, John C. Yang, Stephen C. Yang, and Paul C. Yang, all Newspaper - N/Avail

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. *

* 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

S/R Farmers & Merchants Bank of Central California, Lodi, California, to None

repurchase up to $10 million of its own common stock.
Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA Large Small

number Institution/ Location date public date rating bank bank

Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA Large Small

number Institution/ Location date public date rating bank bank

Exam type

None

Section VI - CRA examinations scheduled Quarter of

Institution Location

None