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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 2

Week Ending January 10, 1998

Federal Reserve Release

H.2

Applications and Reports Received
No. 2

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

ZIA New Mexico Bank, Tucumcari, New Mexico -- order of assessment of a civil

money penalty against G.A. Poling, Jr., the president of Zia.

- Announced, January 9, 1998 

ENFORCEMENT
H.2

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Additions/Corrections

Capital and Accounting Differences -- report to the Congress for 1997.

- Approved, December 22, 1997 

REGULATIONS AND POLICIES
H.2

January 4, 1998 to January 10, 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

Ambassador Bank of the Commonwealth, Allentown, Pennsylvania -- to establish a

branch at Saucon Valley Square, Wyandotte Street, Northampton County,

Pennsylvania.

- Approved, January 8, 1998 

BANK BRANCHES, DOMESTIC

Philadelphia

AmSouth Bank, Birmingham, Alabama -- to establish branches at 111-B Baldwin

Square, Fairhope, Alabama; Danville Road, S.W., Decatur, Alabama; 8805 New

Tampa Boulevard, Tampa, Florida; 4404 West Kennedy Avenue, Tampa; and at

1206 Market Center, Chattanooga, Tennessee.

- Approved, January 8, 1998 

Secretary

BancFirst, Oklahoma City, Oklahoma -- to establish a a branch at 36th and West

Okmulgee, Muskogee, Oklahoma.

- Approved, January 8, 1998 

Kansas City

Berks County Bank, Reading, Pennsylvania -- to establish a branch at 742-744 East

Philadelphia Avenue, Douglas Township, Pennsylvania.

- Approved, January 5, 1998 

Philadelphia

Home Bank, Guntersville, Alabama -- to establish a branch at 530 Brindlee Mountain

Parkway, Arab, Alabama.

- Approved, January 5, 1998 

Atlanta

Manufacturers and Traders Trust Company, Buffalo, New York -- to establish a

branch at 728 Alberta Drive, Boulevard Mall, Amherst, New York.

- Approved, January 5, 1998 

New York
H.2

January 4, 1998 to January 10, 1998

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Southern Financial Bank, Warrenton, Virginia -- to establish a branch at 46910 Harry

Byrd Highway, Sterling, Virginia.

- Approved, January 5, 1998 

Richmond

Admiralty Bancorp, Inc., Hamilton Square, New Jersey -- to acquire White Eagle

Financial Group, Inc., Palm Beach Gardens, Florida.

- Approved, January 5, 1998 

BANK HOLDING COMPANIES

Atlanta

Amcore Financial, Inc., Rockford, Illinois -- to acquire Midwest Financial Corp.,

Baraboo, Wisconsin, Baraboo Federal Bank, FSB, and B. T. 

Financial Services, Inc.

- Approved, January 9, 1998 

Chicago

Bank of New York Company, Inc., New York, New York -- to acquire shares of

Financial Models Company Ltd., and engage in data processing and data transmission

services.

- Permitted, January 7, 1998 

New York

Bank of The Ozarks, Inc., Little Rock, Arkansas -- to engage in the operation of a

thrift institution through acquisition of shares of Heritage Banc Holding, Inc., Little

Rock, Arkansas, and Heartland Communtiy Bank, F.S.B.

- Permitted, January 6, 1998 

St. Louis

Bankers Trust New York Corporation, New York, New York -- request for an

exemption from the appraisal regulation to permit purchase of commercial

mortgage-backed securities by a nonbank subsidiary.

- Granted, January 5, 1998 

Director, BS&R
H.2

January 4, 1998 to January 10, 1998

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Commerce Bancshares of Alabama, Albertville, Alabama -- to acquire Commerce

Bank of Alabama.

- Approved, January 8, 1998 

Atlanta

FBOP Corporation, Oak Park, Illinois -- to acquire shares of P.N.B. Financial

Corporation, Chicago, Illinois, and Park National Bank and Trust of Chicago.

- Approved, January 8, 1998 

Chicago

First Empire State Corporation, Buffalo, New York -- (1) to acquire OnBank &

Trust Co., Syracuse, New York, and Franklin First Savings Bank, Wilkes-Barre,

Pennsylvania, through the merger of First Empire's subsidiary, Olympia Financial

Corp., also of Buffalo, with ONBANCorp Inc., Syracuse, New York; (2) Olympia to

acquire Manufacturers and Traders Trust Company, Buffalo, New York, OnBank,

and Franklin Bank; (3) M&T Bank to merge with OnBank and Franklin Bank; and

(4) M&T to establish branches at the current locations of OnBank and Franklin Bank.

- Approved, January 9, 1998 

Secretary

First Mutual of Richmond, Inc., Richmond, Indiana -- to acquire Richmond Mutual

Bancorporation, Inc., and First Bank Richmond, National Association.

- Approved, January 9, 1998 

Chicago

First Security Corporation Salt Lake City, Utah -- to merge with Rio Grande

Bancshares, Inc., Las Cruces, New Mexico, and acquire First National Bank of Dona

Ana County, and First National Bank of Chaves County, Roswell, New Mexico.

- Approved, January 8, 1998 

Secretary

First Western Bancorp, Inc., Huron, South Dakota -- to engage in general insurance

agency activities through acquisition of Jacobson Insurance Agency, Sturgis, South

Dakota.

- Permitted, January 6, 1998 

Minneapolis
H.2

January 4, 1998 to January 10, 1998

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Fulton Financial Corporation, Lancaster, Pennsylvania -- to merge with Keystone

Heritage Corporation, Lebanon, Pennsylvania, and acquire Lebanon Valley National

Bank.

- Approved, January 6, 1998 

Secretary

Mellon Bank Corporation, Pittsburgh, Pennsylvania -- to acquire United Bankshares,

Inc., Miami, Florida.

- Approved, January 8, 1998 

Cleveland

Mercantile Bancorporation Inc., St. Louis, Missouri -- to engage in the operation of a

thrift institution through the acquisition of HomeCorp, Inc., Rockford, Illinois, and

HomeBanc, FSB, Rockford, Illinois.

- Permitted, January 8, 1998 

St. Louis

Millbrook Bank System, Inc., Millbrook, New York -- to acquire Bank of Millbrook.

- Approved, January 6, 1998 

New York

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

Source, Inc., Nashville, Tennessee.

- Returned, January 8, 1998 

Cleveland

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

Mortgage Services, Trevose, Pennsylvania, and National Mortgage Corporation,

Glen Burnie, Maryland.

- Returned, January 8, 1998 

National Commerce Bancorporation, Memphis, Tennessee, and National Commerce

Community Bancorp, Inc., II -- to acquire Bancshares of West Memphis, Inc., West

Memphis, Arkansas, and Bank of West Memphis.

- Approved, January 7, 1998 

St. Louis
H.2

January 4, 1998 to January 10, 1998

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

National Commerce Bancorporation, Memphis, Tennessee, and National Commerce

Community Bancorp, Inc, I -- to acquire First Citizens Bancshares Company,

Marion, Arkansas, and Citizens Bank.

- Approved, January 7, 1998 

Norwest Corporation, Minneapolis, Minnesota -- to acquire Oahe Ag Services, Inc.,

Pierre, South Dakota, and engage in general insurance agency activities.

- Permitted, January 7, 1998 

Secretary

Regions Financial Corporation, Birmingham, Alabama -- to merge with Greenville

Financial Corporation, Greenville, South Carolina, and acquire Greenville National

Bank.

- Approved, January 8, 1998 

Atlanta

Regions Financial Corporation, Birmingham, Alabama -- to acquire Palfed

Investment Services, Inc., Aiken, South Carolina, and engage in credit insurance

activities.

- Permitted, January 9, 1998 

Atlanta

Richmond Mutual Bancorporation, Inc., Richmond, Indiana -- to acquire First Bank

Richmond, National Association.

- Approved, January 9, 1998 

Richmond

SNB Bancorp, Pine Plains, New York -- to acquire The Stissing National Bank of

Pine Plains.

- Approved, January 6, 1998 

New York

South Alabama Bancorporation, Inc., Mobile, Alabama -- to engage in operating a

trust company through acquisition of South Alabama Trust Company, Inc.

- Approved, January 5, 1998 

Secretary
H.2

January 4, 1998 to January 10, 1998

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Wachovia Corporation, Winston-Salem, North Carolina -- to acquire shares of

Technologies, Inc., Maitland, Florida

- Approved, January 9, 1998 

Secretary

Bank of Lancaster, Kilmarnock, Virginia -- to acquire certain assets and assume

certain liabilities of two branches of Northern Neck State Bank, Warsaw, Virginia.

- Approved, January 6, 1998 

BANK MERGERS

Richmond

Citizens Trust Bank, Atlanta, Georgia -- to merge with First Southern Bank,

Lithonia, Georgia, and to establish branches.

- Approved, January 6, 1998 

Secretary

Boston Safe Deposit and Trust Company, Boston, Massachusetts -- transfer agent

registration.

- Approved, January 6, 1998 

BANKS, STATE MEMBER

Director, BS&R

Effingham State Bank, Effingham, Illinois -- payment of a dividend.

- Approved, January 9, 1998 

St. Louis

State Bank of Farina, Farina, Illinois -- payment of a dividend.

- Approved, January 9, 1998 

St. Louis

1st Source Bank, South Bend, Indiana -- redemption of shares.

- Approved, January 5, 1998 

CAPITAL STOCK

Chicago
H.2

January 4, 1998 to January 10, 1998

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Wells Fargo & Company, San Francisco, California -- redemption of shares.

- Approved, January 6, 1998 

San Francisco

B-K Agency, Inc., Hardtner, Kansas -- change in bank control.

- Permitted, January 6, 1998 

CHANGE IN BANK CONTROL

Kansas City

First Lacon Corp., Lacon, Illinois -- change in bank control.

- Permitted, January 9, 1998 

Chicago

First Marshall Corporation, Marshall, Texas -- change in bank control.

- Permitted, January 7, 1998 

Dallas

Reliable Community Bancshares, Inc., Perryville, Missouri -- change in bank control.

- Permitted, January 6, 1998 

St. Louis

Unity Bancorp, Inc., Clinton, New Jersey -- change in bank control.

- Permitted, January 6, 1998 

New York

Bank of New Hampshire, Manchester, New Hampshire -- report on competitive

factors of the proposed merger with CFX Bank, Keene, New Hampshire.

- Submitted, January 8, 1998 

COMPETITIVE FACTORS REPORTS

Boston

First Bank Richmond, S.B., Richmond, Indiana -- report on competitive factors of

the proposed merger with First Bank Richmond, National Association, Richmond,

Indiana.

- Submitted, January 9, 1998 

Chicago
H.2

January 4, 1998 to January 10, 1998

Page 8

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Federal Bankshares, M. H.C., Sioux City, Iowa -- report on competitive factors

of the proposed acquisition of assets and assumption of liabilities of GFS Bancorp,

Inc., Grinnell, Iowa, and Grinnell Federal Savings Bank.

- Submitted, January 5, 1998 

Chicago

First National Bank of Maryland, Baltimore, Maryland -- report on competitive

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

of First Omni Bank, National Association, Millsboro, Delaware.

- Submitted, January 8, 1998 

Richmond

First Security Interim Bank, N.A., Albuquerque, New Mexico -- report on

competitive factors of the proposed merger with First National Bank of Dona Ana

County, Las Cruces, New Mexico.

- Submitted, January 6, 1998 

Kansas City

Heartland Community Bank, Camden, Arkansas -- report on competitive factors of

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

branch of Heartland Community Bank, FSB, Little Rock, Arkansas

- Submitted, January 5, 1998 

St. Louis

Perpetual Bank, A Federal Savings Bank, Anderson, South Carolina -- report on

competitive factors of the proposed merger with Perpetual Interim "A" Bank, A

Federal Savings Bank, and Perpetual Interim "B" Bank, A Federal Savings Bank.

- Submitted, January 9, 1998 

Richmond

Pineland State Bank, Pineland, Texas -- report on competitive factors of the

proposed merger with Diboll Acquisition Corporation, Diboll, Texas.

- Submitted, January 8, 1998 

Dallas
H.2

January 4, 1998 to January 10, 1998

Page 9

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

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

proposed merger with Allied Bank of Georgia, Thomson, Georgia.

- Submitted, January 7, 1998 

Atlanta

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

proposed merger with Regions Bank, Gainesville, Georgia.

- Submitted, January 7, 1998 

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

proposed merger with Bank of Morgan County, Morgan County, Georgia.

- Submitted, January 7, 1998 

State National Bank El Paso, El Paso, Texas, and State National Interim Bank --

report on competitive factors of the proposed merger with First National Bank of

Denver City, Denver City, Texas.

- Submitted, January 9, 1998 

Dallas

TeamBank, N.A., Freeman, Missouri -- report on competitive factors of the

proposed acquisition of assets and assumption of liabilities of the Ottawa, Kansas,

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

- Submitted, January 6, 1998 

Kansas City

American City Bancorp, Inc., Employee Stock Ownership Plan, Tullahoma,

Tennessee -- extension to January 14, 1999, to acquire additional shares of American

City Bancorp, Inc.

- Granted, January 8, 1998 

EXTENSIONS OF TIME

Atlanta

BankAmerica Corporation, San Francisco, California -- extension to divest certain

property.

- Granted, January 6, 1998 

San Francisco
H.2

January 4, 1998 to January 10, 1998

Page 10

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Commercial Bancshares of Ozark, Inc., Ozark, Alabama -- extension to April 9,

1998, to acquire The Commercial Bank of Ozark.

- Approved, January 8, 1998 

Atlanta

Dai-Ichi Kangyo Bank, Limited, Tokyo, Japan -- extension to divest certain property.

- Granted, January 6, 1998 

San Francisco

First National Bank Shares, Ltd., Great Bend, Kansas -- extension to February 15,

1998, to acquire shares of BankWest, Castle Rock, Colorado.

- Granted, January 5, 1998 

Kansas City

Zions Bancorporation, Salt Lake City, Utah -- extensions to divest certain properties.

- Granted, January 6, 1998 

San Francisco

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

products at the Chicago and Detroit offices.

- Approved, January 5, 1998 

RESERVE BANK SERVICES

Director RBOPS
H.2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

Irwin Union Bank & Trust Company, Columbus, Indiana -- to establish a branch at

1680 West Main Street, Greenwood, Indiana.

- Returned, December 29, 1997 

BANK BRANCHES, DOMESTIC

Chicago
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of January 10, 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 01/04/98 - 01/10/98

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch The Greenwich & Trust Company, Greenwich, Connecticut, to 02/06/98

establish a branch office at 1103 East Putnam Avenue,

Greenwich, Connecticut.*

* Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

None

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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 January 10, 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

1819366 Sterling Bank 07/28/97 01/07/98 Satisfactory Small

3100 Route 38

Mount Laurel, NJ

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 January 10, 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) Received notice from Standard Mutual Holding Company, Fed Reg - 2/2/98

Monroeville, PA on December 31, 1997, of its intent to acquire

Standard Bank, PaSB, Monroeville, 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 

4(c)(8) Received notice from Commerce Exchange Corporation, Beachwood,

OH on January 9, 1998, or its intent to acquire an 11.5 percent

interest in Preferred Capital, Inc.
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 First Quarter of 1998

Institution Location

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

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

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

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

Federal Reserve Bank of Richmond

Applications and notifications filed during the week of January 10, 1998 

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Sterling Bank & Trust Co., Baltimore, Maryland, to 1/26/98

establish a branch at 2045 York Road, Timonium,

Maryland.*

Branch The Bank of Marion, Marion, Virginia, to establish a 1/31/98

branch at the intersection of Main Street and Allison

Gap Road, Saltville, Virginia.*

*Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

None

 

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

1014929 State Bank of the Alleghenies 10/20/97 1/3/98 Outstanding Small

116 West Riverside Avenue

Covington, Virginia 24426

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 January 10, 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)(5) Regions Financial Corporation, Birmingham, Alabama, to merge N/Avail

with Key Florida Bancorp, Inc., and thereby directly acquire

Liberty National Bank, both of Bradenton, Florida.*

3(a)(5) The Peoples BancTrust Company, Inc., Selma, Alabama, to merge N/Avail

with Merchants & Planters Bancshares, Inc., and thereby directly

acquire Merchants & Planters Bank, both of Montevallo,

Alabama.*

3(a)(1) Tarpon Coast Bancorp, Inc., Port Charlotte, Florida, to become a Fed Reg - 2/05/98

bank holding company through acquisition of Tarpon Coast

National Bank, Port Charlotte, Florida.*

3(a)(5) First American Corporation, Nashville, Tennessee, to merge with Newspaper - 1/29/98

Deposit Guaranty Corporation, Jackson, Mississippi, and thereby

directly acquire Deposit Guaranty National Bank, Jackson,

Mississippi.*

*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 

COM Community Bancshares of Mississippi, Inc., Employee Stock

Ownership Plan, Forest, Mississippi, commitment waiver request.

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 7

Federal Reserve Bank of Chicago

Applications and notifications filed during the week of January 10, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Irwin Union Bank & Trust Company Newspaper - 1/20/98

Columbus, Indiana

 1680 W. Main Street

 Greenwood, 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 

3(a)(1) TSB Bankshares, Inc.* Fed Reg - 2/05/98

Lomira, Wisconsin Newspaper - N/Avail

 Theresa State Bank

 Lomira, Wisconsin

3(a)(1) BancSecurity Acquisition Corp.* Fed Reg - N/Avail

Kaukauna, Wisconsin Newspaper - N/Avail

 BancSecurity Corporation

 Marshalltown, Iowa

 Security Bank Jasper-Poweshiek

 Kellogg, Iowa

 Security Bank

 Marshalltown, Iowa

 Story County Bank & Trust Company

 Story City, Iowa
Section II - Applications subject to both newspaper and Federal Register notice

Type Application comment period

Ending date of 

3(a)(3) F & M Bancorporation, Inc.* Fed Reg - N/Avail

Kaukauna, Wisconsin Newspaper - N/Avail

 BancSecurity Corporation

 Marshalltown, Iowa

 Security Bank Jasper-Poweshiek

 Kellogg, Iowa

 Security Bank

 Marshalltown, Iowa

 Story County Bank & Trust Company

 Story City, Iowa

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) Ambank Company, Inc. Fed Reg - 1/26/98

Sioux Center, Iowa

 Amlend Mortgage Services, Inc.

 Sioux Center, Iowa

Fed Reg - Federal 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 January 10, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

5(d)(3) Notice by Farmers and Merchants Bank, Rogers, Arkansas, to Newspaper - 2/7/98

acquire the assets and assume the liabilities of the Main Office,

Dixieland Branch, Prairie Creek Branch, 102 Branch (all of

Rogers, Arkansas), and Bentonville Branch (Bentonville,

Arkansas) offices of Federal Savings Bank, Rogers, Arkansas. 

The Main Office location will become the mail office of Farmers

and Merchants Bank. The Prairie Creek Branch, 102 Branch,

and Bentonville Branch locations will become branches of

Farmers and Merchants Bank. The Dixieland Branch will be

consolidated with an existing branch of Farmers and Merchants

Bank.*

*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 Notice involving DeWitt First Bankshares Corporation, DeWitt, N/Avail

Arkansas, by Georgia M. Greaves and Lester A. McKinley.

CIC Notice involving First State Bank of Dongola, Dongola, Illinois, N/Avail

by Neal C. Needham.

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

acquire Vernois Bancshares, Inc., Mt. Vernon, Illinois.*

3(a)(3) Notice by Union Planters Corporation, Memphis, Tennessee, to N/Avail

acquire Security Bancshares, Inc., Des Arc, Arkansas.*

3(a)(3) Notice by Community Bank Shares of Indiana, Inc., New Albany, N/Avail

Indiana, to acquire NCF Financial Corporation, Bardstown,

Kentucky.*

4(c)(8) Notice by First Commercial Corporation, Little Rock, Arkansas, Newspaper - 2/7/98

to acquire Kemmons Wilson, Inc., Memphis, Tennessee, thereby

acquiring its wholly owned subsidiary, KW Bancshares, Inc.,

Little Rock, Arkansas, and its wholly owned thrift subsidiary,

Federal Savings Bank, Rogers, Arkansas.*
Section II - Applications subject to both newspaper and Federal Register notice

Type Application comment period

Ending date of 

3(a)(3) Notice by First Commercial Corporation, Little Rock, Arkansas, Newspaper - 2/7/98

to acquire the successor to the conversion of Federal Savings

Bank, Rogers, Arkansas, from a federally chartered savings bank

to a nationally chartered commercial bank to be title First

Commercial Bank, N.A. of West Memphis, West Memphis,

Arkansas.*

*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) Notice by First Commercial Corporation, Little Rock, Arkansas, to N/Avail

establish First Commercial Investments, Inc., Little Rock, Arkansas,

and engage in underwriting and dealing in certain bank-ineligible

securities; underwriting and dealing in bank eligible securities;

providing securities brokerage services on either a stand-along or fullservices basis; acting as agent for issuers and holders in the private

placement of securities; buying and selling on the order of investors as

riskless principal; acting as an investment or financial advisor;

providing advice and acting as arranger in connection with merger,

acquisition, divestiture and financial transactions, including public

and private financings, loan syndications, interest rate and currency

swaps, interest rate caps and similar transactions and/or furnishing

evaluation and fairness opinions in connection with merger,

acquisition, and similar transactions; and providing consulting

services.

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

Type Application comment period

Ending date of 

SMBOTH Notice by Bay-Hermann-Berger Bank, Hermann, Missouri, to make a

dividend payment.
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 January 10, 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 Pieschel Family Limited Partnership, Springfield, Minnesota, to Fed Reg - 1/26/98

acquire control of 28.92% of the voting shares of Springfield

Investment Company, Springfield, Minnesota.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of

None 
Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

763556 Plaza Park State Bank 9/29/97 1/8/98 Satisfactory Small Bank

Waite Park, Minnesota

827458 Dakota Western Bank 9/29/97 1/8/98 Satisfactory Small Bank

Bowman, North Dakota

624956 Valley Bank of Ronan 8/4/97* 11/12/97 Outstanding Small Bank

Ronan, Montana

* Date Correction: Please refer to the Applications Bulletin for the week of November 10, 1997.

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 January 10, 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 Bruce L. Trimble, Leroy, Kansas, individually and as Trustee of Newspaper - N/Avail

the Ival L. Trimble December 9, 1997 Irrevocable Trust, to Fed Reg - N/Avail

acquire voting shares of Flint Hills Bancshares, Gridley, Kansas.

3(a)(3) Security Bancshares, Scott City, Kansas, for prior approval to Newspaper - N/Avail

acquire 100 percent of the voting shares of Farmers and Fed Reg - 2/2/98

Merchants Bank of Colby, Colby, Kansas.

3(a)(5) First Nebraska Bancs, Inc., Sidney, Nebraska, for prior approval Newspaper- N/Avail

to acquire 100 percent of the voting shares of South Platte Fed Reg - 2/6/98

Bancorp, Julesburg, Colorado; and thereby indirectly acquire First

National Bank, Julesburg, Colorado.

3(a)(1) McCurtain County Bancshares, Idabel, Oklahoma; to become a Newspaper - 1/26/98

bank holding company through the acquisition of 96.8 percent of Fed Reg - 2/2/98

the voting shares of McCurtain County National Bank, Idabel,

Oklahoma, and New McCurtain National Bank, Broken Bow,

Oklahoma, a de novo bank in organization.
Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) Gold Banc Corporation, Leawood, Kansas, to acquire Midwest Fed Reg - 1/2/98

Capital Management, Inc., Kansas City, Missouri, and thereby

indirectly engage in financial and investment advisory activities,

pursuant to 225.28(b)(6) of the Board’s Regulation Y; agency

transaction services for customer investments including securities

brokerage, riskless principal transactions and private placement

services, pursuant to 225.28(b)(7)(i), (ii), and (iii) of the Board’s

Regulation Y; investment transactions as principal, including

underwriting and dealing in government obligations and money

market instruments, pursuant to 225. 28(b)(8)(i) of the Board’s

Regulation Y; investing and trading activities, i.e. engaging as

principal in financial futures, pursuant to 225.28(b)(8)(ii)(b) of the

Board’s Regulation Y; providing management consulting advice,

pursuant to 225.28(b)(9)(A) 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 - 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

887751 Western Bank of Cody 10/06/97 01/06/98 Satisfactory

1702 17th Street

Cody, Wyoming 82414-4305

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 January10, 1998

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Texas State Bank, McAllen, TX, Newspaper - 1/30/98

to establish branches at

116 East Hidalgo Avenue, Raymondville, TX 78580,

2000 FM 802, Brownsville, TX 78521,

3201 Central Blvd., Brownsville, TX 78520,

629 East Elizabeth, Brownsville, TX 78520, and

3255 Boca Chica Blvd., Brownsville, TX 78520*

18(c) Texas State Bank, McAllen, TX, to merge with Newspaper - 1/30/98

Bank of Texas, Raymondville, TX*

18(c) Texas State Bank, McAllen, TX, to merge with Newspaper - 1/30/98

Texas Bank & Trust Company, Brownsville, TX*

18(c) Texas State Bank, McAllen, TX, to merge with Newspaper - 1/30/98

Brownsville National Bank, Brownsville, TX* 

*Subject to the provisions of the Community Reinvestment Act.

N/Avail - Not available at this time.

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

Type Application period

Ending date of comment

3(a)(3) Harlingen Bancshares, Harlingen, TX, to acquire Lower Rio Newspaper - 2/04/98

Grande Valley Bancshares, Inc., La Feria, TX*

3(a)(3) State National Bancshares, Inc., Lubbock, TX, and State National Newspaper - 1/30/98

Bancshares of Delaware, Dover, DE, to acquire First National

Bank of Denver City, Denver City, TX*

(Previously reported during the week of December 15, 1997)

3(a)(3) State National Bancshares, Inc., Lubbock, TX, to acquire First Newspaper - 1/30/98

Sierra Bancshares, Inc., Truth or Consequences, NM* 

(Previously reported during the week of December 15, 1997)
Section II - Applications subject to both newspaper and Federal Register notice

Type Application period

Ending date of comment

3(a)(5) Texas Regional Bancshares, Inc., McAllen, TX, and Texas Newspaper - 1/30/98

Regional Delaware, Inc., Wilmington, DE, to acquire Brownsville

Bancshares, Inc., Brownsville, TX, BNB Bancshares, Inc.,

Wilmington, DE, and Brownsville National Bank, Brownsville,

TX*

3(a)(5) Texas Regional Bancshares, Inc., McAllen, TX, and Texas Newspaper - 1/30/98

Regional Delaware, Inc., Wilmington, DE, to acquire 

TB&T Bancshares, Inc., Brownsville, TX, and Texas Bank &

Trust Company, Brownsville, TX*

3(a)(5) Texas Regional Bancshares, Inc., McAllen, TX, and Texas Newspaper - 1/30/98

Regional Delaware, Inc., Wilmington, DE, to acquire 

Raymondville Bancorp, Inc., Raymondville, TX, and Bank of

Texas, Raymondville, TX*

*Subject to the provisions of the Community Reinvestment Act.

N/Avail - Not available at this time.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of

None
Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

None

Section VI - CRA examinations scheduled Quarter of

Institution Location

None
District 12

Federal Reserve Bank of San Francisco

Applications and Notifications Filed During the Week of January 10, 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) Banque Nationale de Paris, Paris, France, to engage through its Fed Reg - 1/29/98

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

buying and selling in the secondary market all types of securities on

the order of customers as a "riskless principal." 

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 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