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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 6

Week Ending February 7, 1998

Federal Reserve Release

H.2

Applications and Reports Received
No. 6

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Basle Committee on Banking Supervision -- issuance of a paper entitled

Framework for the Evaluation of Internal Control Systems.

- Published, February 2, 1998 

REGULATIONS AND POLICIES

Regulation Z (Truth in Lending) -- -- adjustment in the dollar amount that triggers

certain requirements of the Truth in Lending Act and Regulation Z for mortgages

bearing fees above a certain amount. (Docket R-0998).

- Approved, February 2, 1998 

Chase Manhattan Corporation, New York, New York -- order of prohibition

against Michael Wachs, a former managing director and institution-affiliated party.

- Announced, February 6, 1998 

ENFORCEMENT

Credit and Commerce American Holdings, N.V., Netherlands Antilles -- order of

settlement of outstanding charges against Clark M. Clifford and Robert A. Altman,

institution-affiliated parties of CCAH, and former counsel to the Bank of Credit and

Commerce International, S.A., Luxembourg.

- Authorized, February 2, 1998 

First Western Trust Services Company, New Castle, Pennsylvania -- order of

prohibition against Stephen R. Koury, a former employee and institution-affiliated

party.

- Announced, February 6, 1998 

Heartland Bank, Croton, Ohio -- order of prohibition against Michael A. Lindahl, a

former officer and institution-affiliated party.

- Announced, February 6, 1998 

Towne Bank, Perrysburg, Ohio -- cease and desist order against the bank.

- Announced, February 6, 1998 
H.2

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Additions/Corrections

Application for Prior Approval to Effect a Bank Merger, Consolidation, Acquisition

of Assets or Assumption of Deposit Liabilities (FR 2070) -- extension, with

revision.

- Proposed, January 5, 1998 

FORMS
H.2

February 1, 1998 to February 7, 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

Commercial Bank of Florida, Miami, Florida -- to establish a branch at 19455 South

Dixie Highway.

- Approved, February 2, 1998 

BANK BRANCHES, DOMESTIC

Atlanta

Sterling Bank & Trust Co., Baltimore, Maryland -- to establish a branch at 2045

York Road, Timonium, Maryland.

- Approved, February 2, 1998 

Richmond

Texas State Bank, McAllen, Texas -- to establish a branch at 629 East Elizabeth,

Brownsville, Texas, and 3255 Boca Chica Boulevard.

- Approved, February 4, 1998 

Dallas

Texas State Bank, McAllen, Texas -- to establish a branch at 3201 Central

Boulevard, Brownsville, Texas.

- Approved, February 4, 1998 

Dallas

Texas State Bank, McAllen, Texas -- to establish a branch at 116 East Hidalgo

Avenue, Raymondville, Texas.

- Approved, February 4, 1998 

United Central Bank, Garland, Texas -- to establish a branch at 404 East Veterans

Memorial Boulevard, Killeen, Texas.

- Approved, February 3, 1998 

Dallas
H.2

February 1, 1998 to February 7, 1998

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Ambank Company, Inc., Sioux Center, Iowa -- to engage de novo in real estate

appraisal activities through Amlend Mortgage Services, Inc.

- Permitted, February 2, 1998 

BANK HOLDING COMPANIES

Chicago

AmCorp Financial, Inc., Ardmore, Oklahoma -- to acquire First State Bank, Morton,

Texas.

- Withdrawn, February 4, 1998 

Kansas City

Banque Nationale de Paris, Paris, France -- to engage in riskless principal activities

through BNP Securities (U.S.A), Inc., Radnor, Pennsylvania.

- Approved, February 3, 1998 

San Francisco

Bolivar Banking Corporation, Shelby, Mississippi -- to acquire Bank of Bolivar

County.

- Approved, February 6, 1998 

St. Louis

Capital Community Bancorporation, Inc., Orem, Utah -- to acquire Orem

Community Bank.

- Approved, February 4, 1998 

San Francisco

Carrollton Bancorp, Baltimore, Maryland -- to acquire nine percent of the shares of

Patapsco Valley Bancshares, Inc., Ellicott City, Maryland.

- Approved, February 4, 1998 

Richmond

CNB Bancshares, Inc., Evansville, Indiana -- to acquire Pinnacle Financial Services,

Inc., St. Joseph, Michigan, and Pinnacle Bank.

- Approved, February 6, 1998 

St. Louis
H.2

February 1, 1998 to February 7, 1998

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

CNB Bancshares, Inc., Evansville, Indiana -- to acquire Pinnacle Financial Services,

Inc., St. Joseph, Michigan; Pinnacle Financial Consultants, Inc., and InFed Mortgage

Company, both of Valparaiso, Indiana; to acquire shares of Forrest Holdings Inc.

which owns Forrest Financial Corporation, both of Lisle, Lisle, Illinois; to engage in

financial and investment advisory services through PFC and in securities brokerage

activities and riskless principal transactions; and through InFed to engage in

community development activities and through FHI and FFC to engage in leasing

activities and securities brokerage activities.

- Permitted, February 6, 1998 

Community Bancshares of Mississippi, Inc., Employee Stock Ownership Plan,

Forest, Mississippi -- waiver of application to acquire shares of Community

Bancshares of Mississippi, Inc.

- Granted, February 5, 1998 

Atlanta

CSB Bancshares, Inc., Yukon, Oklahoma -- to acquire Canadian State Bank, Yukon,

Oklahoma.

- Approved, February 4, 1998 

Kansas City

Diboll State Bancshares, Inc., Diboll, Texas, and Diboll State Bancsahres of

Delaware, Wilmington, Delaware -- to acquire Pineland State Bank, Pineland, Texas.

- Approved, February 4, 1998 

Dallas

Fidelity Company, Dyersville, Iowa -- to acquire shares of the Iowa Bank, Bellevue,

Iowa.

- Approved, February 3, 1998 

Chicago

First American Corporation, Nashville, Tennessee -- to merge with Deposit Guaranty

Corp. Jackson, Mississippi, and acquire Deposit Guaranty National Bank, and G&W

Life Insurance Company.

- Approved, February 3, 1998 

Secretary
H.2

February 1, 1998 to February 7, 1998

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Forsyth Bancshares, Inc., Cumming, Georgia -- confirmation of transfer agent

registration.

- Approved, February 5, 1998 

Secretary

Gold Banc Corporation, Inc., Leawood, Kansas -- to acquire First Alma Bancshares,

Inc., Alma, Kansas.

- Approved, February 4, 1998 

Kansas City

Inver Grove Bancshares, Inc., Inver Grove Heights, Minnesota -- to acquire Key

Community Bank.

- Approved, February 5, 1998 

Minneapolis

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

Financial Corporation, McLean, Virginia.

- Approved, February 4, 1998 

Richmond

National City Corporation, Cleveland, Ohio -- to acquire the assets of Eastern

Mortgage Services, Trevose, Pennsylvania, and First National Mortgage

Corporation, Glen Burnie, Maryland.

- Approved, February 6, 1998 

Secretary

Security Bancshares,Inc., Scott City, Kansas -- to acquire Farmers & Merchants

Bank of Colby, Colby, Kansas.

- Approved, February 5, 1998 

Kansas City

Standard Mutual Holding Company, Monroeville, Pennsylvania -- to acquire

Standard Bank PaSB.

- Approved, February 6, 1998 

Cleveland
H.2

February 1, 1998 to February 7, 1998

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

State National Bancshares, Inc., Lubbock, Texas -- to acquire First Sierra

Bancshares, Inc., Truth of Consequences, New Mexico, and Sierra Bank, Las

Cruces, New Mexico.

- Approved, February 4, 1998 

Dallas

Texas Regional Bancshares, Inc., McAllen, Texas, and Texas Regional Delaware,

Inc., Wilmington, Delaware -- to acquire Brownsville Bancshares, Inc., Brownsville,

Texas, BNG Bancshares, Inc., Wilmington, Delaware, and Brownsville National

Bank, Brownsville, Texas.

- Approved, February 4, 1998 

Dallas

Texas Regional Bancshares, Inc., McAllen, Texas, and Texas Regional Delaware,

Inc., Wilmington, Delaware -- to acquire TB&T Bancshares, Inc., Brownsville,

Texas, and Texas Bank & Trust Company, Brownsville, Texas.

- Approved, February 4, 1998 

Texas Regional Bancshares, Inc., McAllen, Texas, and Texas Regional Delaware,

Inc., Wilmington, Delaware -- to acquire Raymondville Bancorp, Inc., Raymondville,

Texas, and Bank of Texas, Raymondville, Texas.

- Approved, February 4, 1998 

Dallas

Farmers Trust Bank, Lebanon, Pennsylvania -- to merge with Lebanon Valley Bank,

and to establish branches.

- Approved, February 6, 1998 

BANK MERGERS

Secretary

Texas State Bank, McAllen, Texas -- to merge with Brownsville National Bank,

Brownsville, Texas.

- Approved, February 4, 1998 

Dallas
H.2

February 1, 1998 to February 7, 1998

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Texas State Bank, McAllen, Texas -- to merge with Bank of Texas, Raymondville,

Texas.

- Approved, February 4, 1998 

Community National Bank Corporation, Venice, Florida -- change in bank control.

- Permitted, February 6, 1998 

CHANGE IN BANK CONTROL

Atlanta

Baltimore County Savings Bank, F.S.B., Baltimore, Maryland -- report on

competitive factors of the proposed merger with An Interim Stock Savings

Association.

- Submitted, February 3, 1998 

COMPETITIVE FACTORS REPORTS

Richmond

Blackhawk State Bank, Beloit, Wisconsin -- report on competitive factors of the

proposed merger with Blackhawk State Bank, S.B., Rochelle, Illinois.

- Submitted, February 4, 1998 

Chicago

Commercial Banking and Trust Company, Parkersburg, West Virginia -- report on

competitive factors of the proposed merger with Jackson County Bank, Inc.,

Ravenswood, West Virginia; Farmers and Merchants Bank of Ritchie County,

Harrisville, West Virginia; The Community Bank of Pennsboro, Pennsboro, West

Virginia; and The Dime Bank, Marietta, Ohio.

- Submitted, February 2, 1998 

Richmond

Financial Trust Company, Carlisle, Pennsylvania -- report on competitive factors of

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

branches of Pennsylvania National Bank and Trust Company, Pottsville,

Pennsylvania.

- Submitted, February 4, 1998 

Philadelphia
H.2

February 1, 1998 to February 7, 1998

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Golden State Bancorp, Inc. Glendale, California -- report on competitive factors of

the proposed merger with Redfed Bancorp, Inc., Redlands, California.

- Submitted, February 3, 1998 

San Francisco

Indiana Community Bank, SB, Lebanon, Indiana -- report on competitive factors of

the proposed merger with UF Interim Savings Bank, Indianapolis, Indiana.

- Submitted, February 2, 1998 

Chicago

Mainbank, Dallas, Texas -- report on competitive factors of the proposed merger

with First National Bank of Ennis, Ennis, Texas.

- Submitted, February 4, 1998 

Dallas

PSB Interim Bank, East Berlin, Pennsylvania -- report on competitive factors of the

proposed merger with The Peoples State Bank.

- Submitted, February 3, 1998 

Philadelphia

SierraWest Bank, Truckee, California -- report on competitive factors of the

proposed merger with Continental Pacific Bank, Vacaville, California.

- Submitted, February 5, 1998 

San Francisco

SNB Interim Bank, National Association, Pine Plains, New York -- report on

competitive factors of the proposed consolidation with the Stissing National Bank of

Pine Plains.

- Submitted, February 4, 1998 

New York

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

proposed merger with Advance Bank, S.B., Lansing, Illinois.

- Submitted, February 2, 1998 

Chicago
H.2

February 1, 1998 to February 7, 1998

Page 8

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

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 6, 1998 

Minneapolis

Bank of Northern Virginia, Arlington, Virginia -- extension to August 24, 1998, to

establish a branch at 200 Little Falls Road, Falls Church, Virginia

- Granted, February 5, 1998 

EXTENSIONS OF TIME

Richmond

Citizens Effingham Bancshares, Inc., Springfield, Georgia -- extension to May 19,

1998, to acquire Citizens Bank of Effingham.

- Granted, February 2, 1998 

Atlanta

Crestar Bank, Richmond, Virginia -- extension to September 5, 1998, to establish a

drive-in branch in the Blair Park Shopping Center, 1330 East-West Highway, Silver

Spring, Maryland.

- Granted, February 5, 1998 

Richmond

Crestar Financial Corporation, Richmond, Virginia -- extension to dispose of certain

assets.

- Granted, February 4, 1998 

Richmond

Great Southern Capital Corporation Employee Stock Ownership Trust, Meridian,

Mississippi -- extension to May 4, 1998, to acquire shares of Great Southern Capital

Corporation.

- Granted, February 4, 1998 

Atlanta
H.2

February 1, 1998 to February 7, 1998

Page 9

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Marengo Bancshares, Inc., Marengo, Illinois -- extension to April 18, 1998, to

acquire shares of Prairie State Bank.

- Granted, February 3, 1998 

Chicago

Federal Open Market Committee -- minutes of the meeting on December 16, 1997.

- Published, February 5, 1998 

REGULATIONS AND POLICIES

FOMC
H.2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

South Valley Bancorp, Inc., Klamath Falls, Oregon -- to acquire South Valley Bank

& Trust.

- Approved, January 30, 1998 

BANK HOLDING COMPANIES

San Francisco

Bank of Wichita, Snyder, Oklahoma -- report on competitive factors of the proposed

acquisition of assets and assumption of liabilities of the Cache, Oklahoma, branch of

AmQuest Bank, N.A., Lawton, Oklahoma.

- Submitted, January 30, 1998 

COMPETITIVE FACTORS REPORTS

Kansas City

Community Bank of Naples, N.A., Naples, Florida -- report on competitive factors of

the proposed merger with Community Interim Bank of Naples.

- Submitted, January 27, 1998 

Atlanta

Norwest Bank Nebraska, N.A., Omaha, Nebraska -- report on competitive factors of

the proposed merger with Packers Bank.

- Submitted, January 30, 1998 

Kansas City

First Citizens Bancshares, Inc., Dyersburg, Tennessee -- extension to May 6, 1998,

to acquire shares of Bank of Troy, Troy, Tennessee.

- Granted, January 28, 1998 

EXTENSIONS OF TIME

St. Louis

Olympian New York Corporation, Brooklyn, New York -- extension to April 15,

1998, to acquire Olympian Bank.

- Granted, January 27, 1998 

New York
H.2

January 25, 1998 to January 31, 1998 Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

Truth in Lending Act and the Real Estate Settlement Procedures Act -- request for

additional comment on possible streamlining and reform of the statutes concerning

home-secured loans (Docket R-0954).

- Granted, January 30, 1998 

REGULATIONS AND POLICIES

Secretary
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of February 7, 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 7, 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 

4(c)(8) Royal Bank of Canada, Montreal, Canada, to acquire, through 02/17/98

Integrion Financial Network, LLC, Atlanta, Georgia, warrants to

acquire up to 15.38% of the total shares outstanding of CheckFree

Corporation, Norcross, Georgia.

 

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 7, 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

1901243 East Penn Bank 8/25/97 2/3/98 Satisfactory Small

731 Chestnut Street

Emmaus, PA

1211700 Founders Bank 9/2/97 2/5/98 Satisfactory Small

101 Bryn Mawr Avenue

Bryn Mawr, PA

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 7, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18C Received application from Community First Bank & Trust N/Avail

Branch Company, Celina, OH on Februaury 2, 1998, to acquire and

merge with The Union State Bank, Payne, OH and incident

thereto establish branches.

N/Avail - Not yet know

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

Type Application comment period

Ending date of 

3(a)(1) Received application from Milton Bancorp, Inc., Wellston, OH on Fed Reg - 3/4/98

February 2, 1998, of its intent to acquire The Milton Banking

Company, Wellston, OH.

3(a)(3) Received application from Northwest Bancorp, MHC and Fed Reg - 3/9/98

Northwest Bancorp, Inc., both of Warren, PA on February 4,

1998, of their intent to acquire Corry Savings Bank, Corry, PA.

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 

4C8 Received notice from National City Corporation, Cleveland, OH on

February 2, 1998, of its intent to acquire American Mortgage Source,

Inc., Nashville, TN

WAIVER Received request to waive filing of application from First Financial

Bancorp, Hamilton, OH on February 3, 1998, to acquire The Union

State Bank, Payne, OH.

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

85614 The Huntington State Bank 11/4/96 2/2/98 Outstanding AF

41 South High Street

Columbus, OH 43287

332028 The Dime Bank 8/4/97 2/6/98 Satisfactory Small Bank

P.O. Box 650

Marietta, OH 45750
Section VI - CRA examinations scheduled for First Quarter of 1998

Institution Location

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

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

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

WesBanco Bank Barnesville P.O. 70, 101 E. Main Street, Barnesville, OH 43717-0070
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week of February 7, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Traders Bank, Spencer, West Virginia, to establish a branch 2/28/98

at the intersection of State Route 14 and Oakbrook Road,

Mineral Wells, West Virginia.*

Branch Centura Bank, Rocky Mount, North Carolina, to establish a 3/4/98

branch in the Hannaford Brothers Store located at 2830 East

Franklin Boulevard, Gastonia, North Carolina.*

18(c) F&M Bank-Richmond, Richmond, Virginia, to merge with N/Avail

Peoples Bank of Virginia, Chesterfield, Virginia.*

Member EagleBank, Bethesda, Maryland, in organization, for member- N/Avail

ship in the Federal Reserve System.*

*Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

CIC JNV Limited Partnership II, Arlington, Virginia, Notice of Newspaper - 2/18/98

Change in Control with respect to United Financial Banking

Companies, Inc., Vienna, Virginia.

3(a)(3) James River Bankshares, Inc., Suffolk, Virginia, to acquire Fed Reg - 3/4/98

First Colonial Bank, Hopewell, Virginia (the proposed successor Newspaper - 3/1/98

to First Colonial Bank, FSB, Hopewell, Virginia).*

3(a)(1) Eagle Bancorp, Inc., Bethesda, Maryland, to become a bank Fed Reg - 3/6/98

holding company through the acquisition of 100% of the voting Newspaper - N/Avail

shares of EagleBank, Bethesda, Maryland, in organization.*

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

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

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

82024 Atlantic Bank 9/22/97 2/2/98 Satisfactory Large Bank

4604 Coastal Highway

Ocean City, Maryland 21842-3248

855929 Security Bank Corporation 11/17/97 2/5/98 Satisfactory Small Bank

8780 Centreville Road

Manassas, Virginia 22110-5204
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

208329 First Virginia Bank-Clinch Valley 10/6/97 2/7/98 Satisfactory Large Bank

501 Railroad Avenue

Richlands, Virginia 24641-2513

Section VI - CRA examinations scheduled for Second Quarter of 1998

Institution Location

Bank of the Eastern Shore Cambridge, Maryland

Commerce Bank Corporation College Park, Maryland

Blue Ridge Bank Sparta, North Carolina

Pamplico Bank and Trust Company Pamplico, South Carolina

Union Bank and Trust Company Bowling Green, Virginia

Metro-County Bank of Virginia Mechanicsville, Virginia

The Farmers & Merchants Bank of Craig County New Castle, Virginia

Crestar Bank Richmond, Virginia

The Capon Valley Bank Wardensville, West Virginia

 
District 6

Federal Reserve Bank of Atlanta

Applications and notifications filed during the week of February 7, 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 Community Bancshares, Inc., Blountsville, Alabama, change in N/Avail

control notice filed by Mr. Kennon R. Patterson, Sr., to acquire

1.03 percent of the outstanding shares of Community Bancshares,

Inc., Blountsville, Alabama.

3(a)(1) PSB BancGroup, Inc., Lake City, Florida, to become a bank Fed Reg - 3/02/98

holding company by acquiring Peoples State Bank, Lake City,

Florida (in organization).*

3(a)(1) Flag Financial Corporation, LaGrange, Georgia, to become a bank Fed Reg - 3/06/98

holding company by acquiring Middle Georgia Bankshares, Inc.,

Unadilla, Georgia.*

4(c)(8) Flag Financial Corporation, LaGrange, Georgia, to retain 100 Fed Reg - 3/06/98

percent control over First Federal Savings Bank of LaGrange,

LaGrange, Georgia, and thereby continue operating a thrift

association.*

*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 7

Federal Reserve Bank of Chicago

Applications and notifications filed during the week of February 7, 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) Ohnward Bancshares, Inc* Fed Reg - 2/23/98

Maquoketa, Iowa Newspaper - 2/27/98

 Gateway State Bank

 Clinton, Iowa

3(a)(3) Heartland Financial USA, Inc.* Fed Reg - 2/27/98

Dubuque, Iowa Newspaper - N/Avail

 Community Bank of Albuquerque (in organization)

 Albuquerque, New Mexico

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

Sioux Rapids, Iowa Newspaper - N/Avail

 First State Bank

 Sioux Rapids, Iowa

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

Newman, Illinois Newspaper - N/Avail

 By JMP Family Investments, L.P. and

 MJD Family Investments, L.P.
CIC Swea City Bancorporation, Inc. Fed Reg - 2/24/98

Swea City, Iowa Newspaper - N/Avail

 By Craig W. Sandahl

CIC Federated Bancorp, Inc. Fed Reg - N/Avail

Loda, Illinois Newspaper - N/Avail

 By Donald H. Schafer

CIC First Mutual Bancorp of Illinois, Inc. Fed Reg - N/Avail

Harvey, Illinois Newspaper - N/Avail

 By Pethinaidu T. Veluchamy and

 Parameswari Veluchamy

Fed Reg - Federal Register Comment Period Ending Date

Newspaper - Newspaper Comment Period Endig Date

N/Avail - Not Available at this time

*Subject to the provision of the Community Reinvestment Act

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

653648 First American Bank 10/6/97 2/5/98 Satisfactory Small Bank

1207 Central Avenue

Fort Dodge, Iowa 50501

(515) 573-2154

919241 Central Bank 10/20/97 2/5/98 Satisfactory Small Bank

160 W. Main Street

Russiaville, Indiana 46979

(765) 883-5501

1887516 Bloomingdale Bank & Trust 10/20/97 2/3/98 Satisfactory Small Bank

150 S. Bloomingdale Rd.

Bloomingdale, Illinois 60108

(630) 924-8500

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 7, 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 

4(c)(8) Notice by Magna Group, Inc., St. Louis, Missouri, to acquire Fed Reg - 2/25/98

Charter Financial, Inc., Sparta, Illinois.*

3(a)(3) Notice by Union Planters Corporation, Memphis, Tennessee, to Newspaper - 3/7/98

acquire First National Bancshares of Wetumpka, Inc., Wetumpka,

Alabama.*

3(a)(5) Notice by National City Bancshares, Inc., Evansville, Indiana, to N/Avail

acquire Illinois One Bancorp, Inc., Shawneetown, Illinois.*

*Subject to the provisions of the Community Reinvestment Act.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

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

Type Application comment period

Ending date of 

4(j)(5)(B) Notice by First United Bancshares, Inc., El Dorado, Arkansas, to Not applicable

acquire 33.3 percent of EFT Network Services, Inc., Little Rock,

Arkansas.

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

453446 Heber Springs State Bank 10/28/97 02/06/98 Satisfactory Small Bank

Heber Springs, Missouri

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 7, 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

None

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) Norwest Corporation, Minneapolis, Minnesota; through Integrion 2/26/98

Financial Network, LLC, Atlanta, Georgia, to acquire up to

15.38% of the outstanding shares of CheckFree Corporation,

Norcross, Georgia, and thereby engage in providing data

processing and data transmission services, pursuant to section

225.28(b)(14) of the Board's Regulation Y.

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

445852 Western Bank of Wolf Point Wolf 10/28/97 2/6/98 Satisfactory Small Bank

Point, Montana

414353 Hand County State Bank 10/28/97 2/6/98 Outstanding Small Bank

Miller, South Dakota

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 7, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Lafayette State Bank, Lafayette, Colorado, for prior approval to Newspaper - 02/09/98

establish a branch facility at 801 Main Street, Suite 130,

Louisville, Colorado.

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

Type Application comment period

Ending date of 

3(a)(3) First Place Financial Corporation, Farmington, New Mexico, for Newspaper - 02/27/98

prior approval to acquire 100 percent of the voting shares of Fed Reg - 02/25/98

Capital Bank, Albuquerque, New Mexico, a de novo bank in

organization.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

4(c)(8) For prior approval for AMERICORP Investment Advisors, Inc.,

Shawnee, Oklahoma, a wholly owned subsidiary of AMERIBANK

Corporation, Shawnee, Oklahoma, to acquire 100 percent of the

voting shares of Investment Management, Inc., and thereby indirectly

engage in financial and investment advisory activities.
Section V - Availability of CRA public evaluations

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

institutions for which an evaluation is publicly available.

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

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

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

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

CRA.:

Outstanding

Satisfactory

Needs to Improve

Substantial noncompliance

RSSD Examination CRA CRA

number Institution/ Location date public date rating

463650 Adams Bank & Trust 10/27/97 02/05/98 Outstanding

315 N. Spruce

Ogallala, Nebraska

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 7, 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 JCE/CBI, Ltd., Baytown, TX, only notificant, to acquire an Newspaper - 2/20/98

interest in Citizens Bankers, Inc., Baytown, TX (previously

reported the week of January 26, 1998)

3(a)(1) TransPecos Financial Corporation, Iraan, TX, to acquire Iraan Newspaper - 2/28/98

State Bank, Iraan, TX (previously reported the week of January

26, 1998)*

3(a)(1) Shamrock Bancshares, Inc., Shamrock, TX, to acquire Shamrock Newspaper - 3/7/98

Delaware Financial, Inc., Dover, DE, and The First National Bank

of Shamrock, Shamrock, TX*

3(a)(1) Shamrock Delaware Financial, Inc., Dover, DE, to acquire The Newspaper - 3/7/98

First National Bank of Shamrock, Shamrock, 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 

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

603755 First State Bank 11/3/97 2/9/98 Satisfactory Small Bank

601 College 

Junction, TX 76849

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 7, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18(c) Valley Independent Bank, El Centro, California, to acquire the Newspaper - 3/04/98

Palm Springs, California, branch office of Palm Desert National

Bank, Palm Desert, California.*

* 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

3(a)(5) Zions Bancorporation, Salt Lake City, Utah, to merge with FP Newspaper - 2/21/98

Bancorp, Inc., Escondido, California.* Fed Reg - 3/06/98

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 - N/Avail

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 Verdugo Banking Company, Glendale, California, to repurchase up to

75,000 shares of its own stock over a 12 month period.
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of

4(c)(8) Eggemeyer Advisory Corp., Castle Creek Capital, L.L.C., and Castle

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

acquire up to 71.1 percent of Coastal Credit Corporation, Virginia

Beach, Virginia, and thereby engage in nonbanking activities through

Coastal Acquisitions, L.L.C., Virginia Beach, Virginia, and Regions

First Financial, L.L.C., Basking Ridge, New Jersey.

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

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