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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 52

Week Ending December 27, 1997

Federal Reserve Release

H.2

Applications and Reports Received
No. 52

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Consumer Advisory Council -- appointment of fourteen new members with

designation of William L. Lund as Chairman and Yvonne S. Sparks as Vice

Chairman.

- Approved, December 24, 1997 

ADVISORY COUNCILS

Thrift Institutions Advisory Council -- appointment of four new members with

designation of Charles R. Rhinehart as President and William A. Fitzgerald as Vice

President.

- Announced, December 23, 1997 

Internal audit function and audit outsourcing arrangements to ensure sound

practices -- interagency policy statement of the Federal Reserve and the other

federal banking agencies.

- Announced, December 22, 1997 

REGULATIONS AND POLICIES

Treatment of U.S. companies operating in the government debt market of the

Netherlands -- request for comment whether U.S. companies have the same

competitive opportunities as Dutch companies in that market.

- Announced, December 23, 1997 
H.2

December 21, 1997 to December 27, 1997

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

Bank of Mulberry, Mulberry, Arkansas -- to establish a branch at 507 Main Street.

- Approved, December 23, 1997 

BANK BRANCHES, DOMESTIC

St. Louis

Community Bancshares of Mississippi, Inc., Forest, Mississippi -- to acquire

Community Bank, Southaven, Mississippi.

- Approved, December 23, 1997 

BANK HOLDING COMPANIES

Atlanta

Donley City Bancshares, Clarendon, Texas -- request for waiver of application to

acquire Knorpp Insurance Agency.

- Granted, December 22, 1997 

Dallas

F & M Bancorporation, Inc., Kaukauna, Wisconsin -- to acquire Bank of South

Wayne, South Wayne, Wisconsin.

- Approved, December 23, 1997 

Chicago

F & M Bancorporation, Inc., Kaukauna, Wisconsin, and F & M Merger Corporation

-- to acquire Sentry Bancorp, Inc., Edina, Minnesota, and Cannon Valley Bank,

Dundas, Minnesota.

- Approved, December 23, 1997 

F & M National Corporation, Winchester, Virginia -- to establish a trust subsidiary

and acquire trust business from F & M Bank-Winchester, F & M Bank-Northern

Virginia, Fairfax, Virginia; and F & M Bank-Peoples, Warrenton, Virginia.

- Approved, December 23, 1997 

Richmond
H.2

December 21, 1997 to December 27, 1997

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

First Banks, Inc., Creve Coeur, Missouri; Sundowner Corporation, Reno, Nevada;

and First Banks America, Inc., Clayton, Missouri -- to acquire Pacific Bay Bank, San

Pablo, California.

- Approved, December 22, 1997 

St. Louis

First Busey Corporation, Urbana, Illinois -- to acquire Busey Business Bank,

Indianapolis, Indiana.

- Approved, December 24, 1997 

Chicago

First Western Bancorp, Inc., Huron, South Dakota -- application to acquire the

assets of Insurance & Investment Center of the Northern Hills, Spearfish, South

Dakota.

- Withdrawn, December 23, 1997 

Minneapolis

Highlands Independent Bancshares, Inc., Sebring, Florida -- to acquire Highlands

Independent Bank.

- Approved, December 22, 1997 

Atlanta

Hogan Investments, Inc., Forsyth, Georgia; Hogan Investments Limited; and Laurens

Bancshares, Inc., Dudley, Georgia -- to acquire Bank of Dudley.

- Approved, December 23, 1997 

Atlanta

Interwest Bancorp, Inc., Oak Harbor, Washington -- to acquire Puget Sound

Bancorp, Port Orchard, Washington.

- Approved, December 22, 1997 

San Francisco

J.R. Montgomery Bancorporation, Lawton, Oklahoma -- to acquire additional shares

of Fort Sill National Bank, Fort Sill, Oklahoma.

- Approved, December 24, 1997 

Kansas City
H.2

December 21, 1997 to December 27, 1997

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Macatawa Bank Corporation, Zeeland, Michigan -- to acquire Macatawa Bank.

- Approved, December 24, 1997 

Chicago

Mech Financial, Inc., Hartford, Connecticut -- to acquire shares of Mechanics

Savings Bank.

- Approved, December 22, 1997 

Boston

Mellon Bank Corporation, Pittsburgh, Pennsylvania -- to engage in data processing

activities through Source2 Group, LLC, a de novo joint venture.

- Permitted, December 24, 1997 

Cleveland

Mercantile Bancorporation Inc., St. Louis, Missouri -- to acquire Horizon Bancorp,

Inc., Arkadelphia, Arkansas, and Horizon Bank, Malvern, Arkansas.

- Approved, December 24, 1997 

Secretary

Midland Bancshares, Inc., Kincaid, Illinois -- to acquire The Midland Community

Bank,

- Approved, December 23, 1997 

Chicago

Newton Financial Management Company, L.L.C ., Atlanta, Georgia -- to become a

bank holding company through retention of a one percent general partnership interest

in Williams Partners, L.P.

- Approved, December 24, 1997 

Atlanta

Premier Financial Bancorp, Inc., Georgetown, Kentucky -- to acquire the Ohio River

Bank, Ironton, Ohio.

- Approved, December 22, 1997 

Cleveland
H.2

December 21, 1997 to December 27, 1997

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Sundance Bankshares, Inc., Sundance, Wyoming -- to acquire Sundance State Bank.

- Approved, December 22, 1997 

Kansas City

Texas Financial Bancorporation, Inc., Minneapolis, Minnesota. -- to acquire the

Conrad Company, Minneapolis, Minnesota, and Community Bank of Arizona,

Wickenburg, Arizona.

- Approved, December 24, 1997 

Dallas

Williams Partners, L.P., Atlanta, Georgia -- to become a bank holding company

through retention of FNB Newton Bancshares, Inc., Covington, Georgia. 

- Approved, December 24, 1997 

Atlanta

Casey County Bancorp, Inc., Liberty, Kentucky -- change in bank control.

- Permitted, December 23, 1997 

CHANGE IN BANK CONTROL

St. Louis

Farmers State Bankshares, Inc., Cheyenne, Wyoming -- change in bank control.

- Permitted, December 22, 1997 

Kansas City

First Community Bancshares, Inc., Houston, Texas -- change in bank control.

- Permitted, December 23, 1997 

Dallas

First Okmulgee Corporation, Okmulgee, Oklahoma -- change in bank control.

- Permitted, December 23, 1997 

Kansas City

Newton Financial Management Company, L.L.C., Atlanta, Georgia -- change in bank

control.

- Permitted, December 24, 1997 

Atlanta
H.2

December 21, 1997 to December 27, 1997

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Valley Bancshares, Inc., Pauls Valley, Oklahoma -- change in bank control.

- Permitted, December 23, 1997 

Kansas City

Verdugo Banking Company, Glendale, California -- change in bank control.

- Permitted, December 23, 1997 

San Francisco

Enterprise Federal Bancorp, Inc., West Chester, Ohio -- report on competitive

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

the North Cincinnati Savings Bank, Blue Ash, and its proposed merger with

Enterprise Federal Savings Bank, West Chester, Ohio.

- Submitted, December 23, 1997 

COMPETITIVE FACTORS REPORTS

Cleveland

Farmers & Merchants Bank, Monticello, Florida, -- report on competitive factors of

the proposed merger with First Merchants Bank, Thomasville, Georgia.

- Submitted, December 24, 1997 

Atlanta

Laconia Savings Bank, Laconia, New Hampshire -- report on competitive factors of

the proposed transfer of a majority of its assets and all of its liabilities to a stock

savings bank.

- Submitted, December 23, 1997 

Boston

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

proposed transfer of a majority of its assets and all of its liabilities to a stock savings

bank.

- Submitted, December 23, 1997 

Boston
H.2

December 21, 1997 to December 27, 1997

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Middle Tennessee Bank, Columbia, Tennessee -- report on competitive factors of the

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

Pleasant, branch of Trans Financial Bank Tennessee, National Association,

Cookeville, Tennessee.

- Submitted, December 24, 1997 

Atlanta

Compass Bancshares, Inc., Birmingham, Alabama -- extension to April 10, 1998, to

acquire Gainesville State Bank, Gainesville, Florida, and for Compass Bank,

Birmingham, Alabama, to merge with Gainesville State Bank, Gainesville, Florida.

- Granted, December 23, 1997 

EXTENSIONS OF TIME

Atlanta

East Coast Bank Corporation Employee Stock Ownership Plan Trust, Ormond

Beach, Florida -- extension to March 27, 1998, to acquire East Coast Bank

Corporation. 

- Granted, December 22, 1997 

Atlanta

Landmark Bancorp, Inc., Margate, Florida -- extension to March 24, 1998, to

acquire Sunniland Bank, Fort Lauderdale, Florida.

- Granted, December 23, 1997 

Atlanta

Skandinaviska Enskilda Banken, Stockholm, Sweden -- relief from a commitment.

- Granted, December 23, 1997 

Director, BS&R

Glacier Bank of Eureka, Eureka, Montana -- to become a member of the Federal

Reserve System.

- Approved, December 24, 1997 

MEMBERSHIP

Minneapolis
H.2

December 21, 1997 to December 27, 1997

Page 7

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Glacier Bank of Whitefish, Whitefish, Montana -- to become a member of the Federal

Reserve System.

- Approved, December 24, 1997 

Minneapolis

Federal Reserve Automation Services -- to lease disk equipment.

- Approved, December 23, 1997 

RESERVE BANK OPERATIONS

Director RBOPS
H.2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

Summit Bank, Hackensack, New Jersey -- to establish branches at Pathmark

Supermarkets at 1250 Black Horse Pike, Pleasantville; 2225 North Second Street,

Millville; 240 Route 10, East Hanover; 895 Paulison Avenue, Clifton; and 1930

Highway 88, Bricktown, New Jersey.

- Approved, December 16, 1997 

BANK BRANCHES, DOMESTIC

New York
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of December 27, 1997 

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 December 27, 1997

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) Niagara Bancorp, MHC, a proposed New York-chartered mutual N/Avail

holding company, and Niagara Bancorp, Inc., both of Lockport,

New York, to become bank holding companies with respect to

Lockport Savings Bank, Lockport, New York.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) Swiss Bank Corporation, Basel, Switzerland, to control Brunswick N/Avail

Warburg, Inc., New York, New York, and thereby engage in (i)

financial and investment advisory activities; and (ii) securities

brokerage activities, riskless principal activities, private placement

services and other transactional services. 

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 December 27, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Berks County Bank, Reading, PA, to establish a branch at 742- 12/26/97

744 East Philadelphia Avenue, Douglass Township, PA

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

Type Application comment period

Ending date of 

None

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of 

None
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 4

Federal Reserve Bank of Cleveland

Applications and notifications filed during the week ending December 27, 1997

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) Received notice from Huntington Bancshares Incorporated, N/Avail

Columbus, OH on December 26, 1997, of its intent to engage in data

processing activities pursuant to Section 225.28(b)(14) of Regualtion

Y. This notice is being filed in connection with the acquisition of

SecureWare, Inc., Atlanta, GA by Security First Network Bank, FSB,

Atlanta, GA. The acquisition was consummated on November 4,

1996, and accomplished through the merger of SecureWare, Inc., with

and into Security First Technologies, Inc., Atlanta, GA, a whollyowned subsidiary of Security First Network Bank.

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

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

969817 Castalia Banking Company 9/29/97 12/26/97 Outstanding

208 S. Washington Street

P.O. Box 157

Castalia, OH 44824

1007314 Premier Bank & Trust 8/25/97 12/26/97 Outstanding

1530 West River North

Elyria, OH 44035

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 December 27, 1997

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) Mason-Dixon Bancshares, Inc., Westminster, Maryland, to N/avail

acquire Rose Shanis & Co., Inc.; Rose Shanis Sons, Inc.;

Rose Shanis & Co.; and Stephen Corp., all of Baltimore,

Maryland, and engage in consumer finance and credit-related

insurance activities.

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

Type Application comment period

Ending date of 

4(c)(8) Wachovia Corporation, Winston-Salem, North Carolina,

to acquire additional shares of HONOR Technologies, Inc.,

Maitland, Florida. 

 
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 6

Federal Reserve Bank of Atlanta

Applications and notifications filed during the week of December 27, 1997

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 First Cherokee Bancshares, Inc., Woodstock, Georgia, N/Avail*

change in control notice by Mr. Carl Coleman Hames, Jr., to acquire

1.5 percent of the outstanding shares of First Cherokee Bancshares,

Inc., Woodstock, Georgia. Pro forma total ownership will be 11

percent.*

*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(c)(8) Regions Financial Corporation, Birmingham, Alabama, to acquire

PALFED Investment Services, Inc., Aiken, South Carolina, and

thereby engage in credit insurance activities.

3(a)(1) Tippins Bankshares, Inc., Claxton, Georgia, notice to become a bank

holding company through the acquisition of 100 percent of the voting

shares of Tippins Bank and Trust Company, Claxton, Georgia.
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 December 27, 1997

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)(3) Central Illinois Bancorp, Inc.* Fed Reg - 1/2/98

Sidney, Illinois Newspaper - 1/6/98

 CIB Bank (in organization)

 Indianapolis, Indiana

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

Terre Haute, Indiana Newspaper - N/Avail

 The Morris Plan Company of Terre Haute, Inc.

 Terre Haute, Indiana

4(c)(8) AMCORE Financial, Inc. Fed Reg - 1/5/97

Rockford, Illinois Newspaper - N/Avail

 Midwest Federal Financial Corp.

 Baraboo, Wisconsin

 Baraboo Federal Bank, FSB

 Baraboo, Wisconsin

 B.T. Financial Services, Inc.

 Baraboo, Wisconsin

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 Reinsvestment 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

651541 Iowa State Bank & Trust 9/22/97 12/24/97 Satisfactory Small

Broadway & Court

P.O. Box 927

Fairfield, Iowa 52556

(515) 472-3161
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

799939 Hartsburg State Bank 9/22/97 12/24/97 Satisfactory Small

101 N. 2nd Street

P.O. Box 200

Hartsburg, Illinois 62643

(217) 642-5213

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 December 27, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Notice by Bank of Mulberry, Mulberry, Arkansas, to establish a 12/8/97

branch at the corner of 5th and Main Streets, Mulberry,

Arkansas.*

* 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 

3(a)(1) Notice by Bolivar Banking Corporation, Shelby, Mississippi, to N/Avail

acquire The Bank of Bolivar County, Shelby, Mississippi.W*

3(a)(3) Notice by CNB Bancshares, Inc., Evansville, Indiana, to acquire N/Avail

Pinnacle Financial Services, Inc., St. Joseph, Michigan.W*

* 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 Area Bancshares Corporation, Owensboro, Kentucky, for N/Avail

its affiliate, Security First Technologies, Inc., Atlanta, Georgia, to

merge with SecureWare, Inc., Atlanta, Georgia.

4(c)(8) Notice by CNB Bancshares, Inc., Evansville, Indiana, to acquire N/Avail

Pinnacle Financial Services, Inc., St. Joseph, Michigan.
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

S/R Notice by Bolivar Banking Corporation, Shelby, Mississippi, to

redeem up to 20.5 percent of its equity capital.

3(a)(5) Notice by First Community Bancshares, Inc., Batesville, Arkansas, to

acquire First Community Bank of Batesville, Batesville, Arkansas.

4(j)(5)(A) Notice by NSB Bancorp, Inc., Metropolis, Illinois, to acquire The

Brennes-Jones Group, Inc., Dallas, Texas.

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 December 27, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Security Bank Minnesota, Albert Lea, Minnesota, to establish a 1/5/98

branch in Rochester, Minnesota.*

5(d)(3) & Farmers State Bank, Victor, Montana, to merge with Farmers 1/5/98

Branch State Bank, fsb, Stevensville, Montana, and incident thereto,

establish a branch in Stevensville, Montana.*

*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

*Subject to the provisions of the Community Reinvestment Act.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

None

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

Type Application comment period

Ending date of

None 
Section V - Publicly available CRA evaluations

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA

number Institution/ Location date public date rating Exam type

642857 First Community Bank 9/8/97 12/22/97 Satisfactory Small Bank

Glasgow, Montana

668455 Farmers State Bank of Montana 9/15/97 12/22/97 Satisfactory Small Bank

Conrad, Montana

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 December 26, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

18(c) / Branch WestStar Bank, Bartlesville, Oklahoma, for prior approval to Newspaper - N/Avail

merge with Victory Bank, Nowata, Oklahoma, and to establish an

additional branch.

Branch BancFirst, Oklahoma City, Oklahoma, for prior approval to Newspaper - 01/12/98

establish a de novo branch located at 8916 S. Pennsylvania,

Oklahoma City, Oklahoma.

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

Type Application comment period

Ending date of 

3(a)(1) Gold Banc Acquisition Corp, Inc., Leawood, Kansas, to retain 100 Newspaper - N/Avail

percent of the voting shares of Farmers Bancshares of Oberlin, Fed Reg - 01/26/98

Inc., Oberlin, Kansas; and thereby indirectly retain control of

Farmers National Bank, Oberlin, Kansas.

3(a)(3) Gold Banc Corporation, Leawood, Kansas, for prior approval to Newspaper -01/24/98

acquire 100 percent of the voting shares of First Alma Fed Reg - 01/22/98

Bancshares, Inc., Alma, Kansas; and thereby indirectly acquire

First National Bank in Alma, Alma, Kansas.

3(a)(3) FNB Financial Services, Inc. ESOP, Durant, Oklahoma, for Newspaper - 01/16/98

retroactive approval of a passive increase in control from 29.7 to Fed Reg - 01/12/97

30.0 percent of the voting shares of FNB Financial Services, Inc.,

Durant, Oklahoma; and thereby indirectly retain control of The

First National Bank in Durant, Durant, Oklahoma.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

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

Type Application comment period

Ending date of 

3(a)(1) Cache Bank Financial Corporation, Greeley, Colorado, for prior

approval to become a bank holding company through the acquisition

of 100 percent of the voting shares of Cache Bank, Greeley, Colorado.

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

None

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 December 27, 1997

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) Diboll State Bancshares, Inc., Diboll, TX, and Diboll State N/Avail

Bancsahres of Delaware, Wilmington, DE, to acquire Pineland State

bank, Pineland, 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 December 27, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

None

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

Type Application period

Ending date of comment

3(a)(5) West Coast Bancorp, Lake Oswego, Oregon, to merge with Newspaper - 1/17/98

Centennial Holdings, Ltd., Olympia, Washington. *

Fed Reg - 1/26/98

3(a)(1) Capital Community Bancorporation, Inc., Orem, Utah, to become Newspaper - N/Avail

a bank holding company by acquiring Orem Community Bank,

Orem, Utah. * Fed Reg - 1/26/98

3(a)(1) South Valley Bancorp, Inc., Klamath Falls, Oregon, to become a Newspaper - 1/20/98

bank holding company by acquiring South Valley Bank & Trust,

Klamath Falls, Oregon. * Fed. Reg - 1/26/98

* 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) Eggemeyer Advisory Corp., Castle Creek Capital, L.L.C., and Fed Reg - N/Aail

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

California, to engage in nonbanking activities through the

acquisition of Coastal Credit Corporation, Virginia Beach,

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

Type Application comment period

Ending date of

Other California United Bank, Encino, California, to make a community None

development and welfare investment of up to $4.9 million in

California Corporate Tax Fund-1997, a Limited Partnership, pursuant

to section 208.21 of Regulation H.

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

207872 First Utah Bank 8/25/97 12/24/97 Satisfactory X

3826 South 2300 East

Salt Lake City, UT 84109-3499

(801) 272-9454

Footnote: 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