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

Actions of the Board, Its Staff,

and the Federal Reserve Banks:

No. 48

Week Ending November 29, 1997

Federal Reserve Release

H.2

Applications and Reports Received
No. 48

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

First National Security Company, DeQueen, Arkansas -- to acquire First Financial

Corporation of Idabel, Idabel, Arkansas, and First State Bank of Idabel.

- Approved, November 24, 1997 

BANK HOLDING COMPANIES

First Union Corporation, Charlotte, North Carolina -- to acquire Wheat First

Butcher Singer, Inc., Richmond, Virginia, and thereby control Wheat First

Securities, Inc., and engage in underwriting and dealing in certain securities,

providing financial and investment advisory services, and providing securities

brokerage, private placement, and riskless principal services. 

- Approved, November 26, 1997 

Skandinaviska Enskilda Banken, New York, New York -- request for exemption

under section 4(c) (9) of the Bank Holding Company Act in connection with

proposed acquisition of U.S. operations of Trygg-Hansa AB, Stockholm, Sweden.

- Granted, November 26, 1997 

U.S. Bancorp, Minneapolis, Minnesota -- to acquire U.S. Bancorp Investments,

Inc., and engage in underwriting and dealing in certain securities, providing

financial and investment services, and providing securities brokerage, private

placement, and riskless principal services.

- Permitted, November 26, 1997 

Bank of Cyprus, Ltd., Nicosia, Cyprus -- to establish a representative office in New

York, New York.

- Approved, November 24, 1997 

BANKS, FOREIGN

General Accounting Office -- letter to Congress on final report on Internal Control

and Audit Weaknesses in U.S. Offices of Foreign Banking Organizations. 

- Approved, November 24, 1997 

GENERAL ACCOUNTING OFFICE

National Bank of Canada, New York, New York (New York Branch) -- order of

prohibition against Eric C. Dill, a former employee of the New York branch of the

National Bank of Canada, New York, New York.

- Announced, November 24, 1997 

ENFORCEMENT
H.2

ACTIONS TAKEN BY THE BOARD OF GOVERNORS

Additions/Corrections

Centura Bank, Rocky Mount, North Carolina -- request for reconsideration of the 

Board's approval of the application to purchase certain assets and assume certain

liabilities of five branches of NationsBank, N.A., Charlotte, North Carolina.

- Denied, November 4, 1997 

BANK MERGERS
H.2

November 23, 1997 to November 29, 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

BankTennessee, Collierville, Tennessee -- to establish a branch at 100 Mulberry

Street.

- Approved, November 24, 1997 

BANK BRANCHES, DOMESTIC

St. Louis

Farmers Citizens Bank, Bucyrus, Ohio -- to establish a branch in Cardington, Ohio.

- Approved, November 26, 1997 

Cleveland

M&I Thunderbird Bank, Phoenix, Arizona -- to establish a branch at 19052 R.H.

Johnson Boulevard, Sun City West, Arizona.

- Approved, November 25, 1997 

San Francisco

Mercantile Bank of Southwest Florida, Naples, Florida -- to establish a branch at

approximately 600 feet north of Pelican's Nest Drive and U.S. 41, Bonita Springs,

Florida.

- Withdrawn, November 24, 1997 

Atlanta

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

Supermarket, 119 Route 130 and Woodland Road, Edgewater Park; Shop Rite

Supermarket, Route 9 and 1st Street, Lanoka Harbor; and Shop Rite Supermarket,

319 Route 130 North, Highstown, New Jersey. 

- Approved, November 26, 1997 

New York

Truman Bank, St. Louis, Missouri -- to establish a branch at 3899 South Service

Road, Unit J, Blackstone Centre, St. Peters, Missouri.

- Approved, November 25, 1997 

St. Louis
H.2

November 23, 1997 to November 29, 1997

Page 2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Bank of Nova Scotia, Toronto, Ontario, Canada -- to acquire Iron Mountain

Depository Corporation, New York, New York.

- Approved, November 28, 1997 

BANK HOLDING COMPANIES

New York

Central Bancshares, Inc., Lexington, Kentucky -- to acquire Central Bank, FSB,

Nicholasville, Kentucky.

- Permitted, November 24, 1997 

Cleveland

City Bancshares, Inc., Natchitoches, Louisiana -- to acquire City Bank & Trust Co.

- Approved, November 26, 1997 

Dallas

Eggemeyer Advisory Corp., Castle Creek Capital, L.L.C., Castle Creek Capital

Partners Fund-I,L.P., and Western Bancorp -- waiver of application to acquire Santa

Monica Bank, Santa Monica, California.

- Granted, November 26, 1997 

San Francisco

Hibernia Corporation, New Orleans, Louisiana -- to merge with Northwest

Bancshares of Louisiana, Inc., Mansfield, Louisiana, and acquire First National Bank

in Mansfield.

- Approved, November 26, 1997 

Atlanta

Mid America Mortgage Services, Inc, Columbia, Missouri, and Mid America

Banking Corporation -- to acquire acquire Pulaski Bancshares, Inc., Dixon, Missouri,

and State Bank of Dixon.

- Approved, November 24, 1997 

St. Louis
H.2

November 23, 1997 to November 29, 1997

Page 3

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Mid America Mortgage Services, Inc., Columbia, Missouri -- to continue to engage

in mortgage activities.

- Permitted, November 24, 1997 

St. Louis

MNB Bankshares, Inc., Manhattan, Kansas -- to acquire Freedom Bancshares, Inc.,

Osage City, Kansas.

- Approved, November 26, 1997 

Kansas City

North Shore Bancorp, Peabody, Massachusetts -- to acquire North Shore Bank.

- Approved, November 28, 1997 

Boston

NSB Bancorp, Inc., Metropolis, Illinois -- to acquire shares of Central Coast

Processing, Inc., San Luis Obispo, California, and engage in credit card data

processing.

- Permitted, November 26, 1997 

St. Louis

Penseco Financial Services, Scranton, Pennsylvania -- to acquire Penn Security Bank

and Trust Company.

- Approved, November 26, 1997 

Philadelphia

Premier Bancshares, Inc., Atlanta, Georgia -- to merge with Citizens Gwinnett

Bankshares, Inc., Duluth, Georgia, and acquire Citizens Bank of Gwinnett.

- Approved, November 26, 1997 

Atlanta

Southern Missouri Bancshares, Inc., Marshfield, Missouri -- to acquire Southern

Missouri Bank.

- Approved, November 26, 1997 

St. Louis
H.2

November 23, 1997 to November 29, 1997

Page 4

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

SouthTrust Corporation, Birmingham, Alabama -- determination that application is

not required to acquire First of America Bank-Florida, F.S.B., Tampa, Florida.

- Granted, November 26, 1997 

Secretary

Timberland Bancorp, Inc., Hoquiam, Washington -- to acquire Timberland Savings

Bank, SSB.

- Approved, November 26, 1997 

San Francisco

WestDeutsche Landensbank Girozentrale, Dusseldorf, Federal Republic of Germany

-- request for relief from a commitment.

- Granted, November 28, 1997 

Director, BS&R

Wills Point Financial Corporation, Wills Point, Texas -- to acquire Citizens National

Bank of Wills Point.

- Approved, November 25, 1997 

Dallas

Zions Bancorporation, Salt Lake City, Utah -- to merge with Vectra Banking

Corporation, Denver, Colorado, and acquire Vectra Bank.

- Approved, November 25, 1997 

San Francisco

Sabina Bank, Sabina, Ohio -- to acquire the Ada and Waynesfield, Ohio, branches of

The Fifth Third Bank of Western Ohio, Dayton, Ohio, and to establish branches.

- Approved, November 26, 1997 

BANK MERGERS

Cleveland

Harrisburg Bank, Houston, Texas -- to merge with The Frost National Bank, San

Antonio, Texas.

- Approved, November 26, 1997 

Dallas
H.2

November 23, 1997 to November 29, 1997

Page 5

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Adino Company, Onida, South Dakota -- change in bank control.

- Permitted, November 28, 1997 

CHANGE IN BANK CONTROL

Minneapolis

Colorado Business Bank, N.A., Denver, Colorado -- report on competitive factors of

the proposed merger with Colorado Business Bank, N.A., Littleton, Colorado.

- Submitted, November 25, 1997 

COMPETITIVE FACTORS REPORTS

Kansas City

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

factors of the proposed merger with First National Bank of Montana, Butte,

Montana.

- Submitted, November 28, 1997 

Minneapolis

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

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

Thibodaux, Louisiana.

- Submitted, November 26, 1997 

Atlanta

Mountain West Bank of Helena, N.A., Helena, Montana -- report on competitive

factors of the proposed merger with Mountain West Bank of Great Falls, N.A., Great

Falls, Montana.

- Submitted, November 28, 1997 

Minneapolis

National Bank of Commerce, Altus, Oklahoma -- report on competitive factors of the

proposed acquisition of assets and assumption of liabilities of National Bank of

Commerce, Tulsa, Oklahoma.

- Submitted, November 25, 1997 

Kansas City
H.2

November 23, 1997 to November 29, 1997

Page 6

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Surety Bank, N.A., Hurst, Texas -- report on competitive factors of the proposed

acquisition of the assets and assumption of the liabilities of TexStar National Bank,

Universal City, Texas.

- Submitted , November 25, 1997 

Dallas

First Commerce Corporation, New Orleans, Louisiana -- extension to March 1, 1998,

to engage in community development investment activities through a proposed

limited partnership known as 150 Baronne Street Limited Partnership, New Orleans,

Louisiana.

- Granted, November 24, 1997 

EXTENSIONS OF TIME

Atlanta

FJSB Bancshares, Inc., Fort Jennings, Ohio -- extension to January 24, 1998, to

acquire The Fort Jennings State Bank.

- Granted, November 25, 1997 

Cleveland

Southwestern Bancshares, Inc., Oklahoma City, Oklahoma -- extension to January

31, 1998, to acquire Southwestern Bank & Trust Company.

- Approved, November 24, 1997 

Kansas City

Valley National Corporation, Lanett, Alabama -- extension to March 3, 1998, to

acquire Valley National Bank of Alabama.

- Granted, November 26, 1997 

Atlanta

Community First Bankshares, Inc., Fargo, North Dakota -- membership in the

Federal Reserve System.

- Withdrawn, November 25, 1997 

MEMBERSHIP

Minneapolis
H.2

ACTIONS TAKEN BY THE STAFF AND THE FEDERAL RESERVE BANKS

UNDER DELEGATED AUTHORITY

Additions/Corrections

Norwest Corporation, Minneapolis, Minnesota -- to engage in residential mortgage

lending activities through acquisition of Revelation Mortgage Company of America,

Washington, D.C., a joint venture with Revelation Mortgage Corporation.

- Withdrawn, November 17, 1997 

BANK HOLDING COMPANIES

Minneapolis

LaSalle National Bank, Chicago, Illinois -- report on competitive factors of the

proposed merger with LaSalle Bank NI.

- Submitted, November 19, 1997 

COMPETITIVE FACTORS REPORTS

Chicago
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week of November 29, 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) Lenox Financial Service Corp., Lenox, Massachusetts - Newspaper - 1/2/98

application to become a mutual holding company through the Fed Reg - N/Avail

acquisition of Lenox Savings Bank, Lenox, Massachusetts*

3(a)(1) Hoosac Financial Services, Inc., North Adams, Massachusetts - Newspaper - 12/19/97

application to become a mutual holding company through the Fed Reg - 12/29/97

reorganization of North Adams Hoosac Savings Bank, North

Adams, Massachusetts

*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) Fleet Financial Services, Inc., North Adams, Massachusetts - Fed Reg - N/Avail

notification to acquire The Quick & Reilly Group, Inc., and thereby

engage in various securities activities
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 January 1, 1998 - March 31, 1998

Institution Location

None
District 2

Federal Reserve Bank of New York

Applications and notifications filed during the week of November 29, 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) Lakeland Bancorp, Inc., Oak Ridge, New Jersey, to acquire 100 12/22/97 1/

percent of the voting shares of Metropolitan State Bank, Montville,

New Jersey.

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

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

4(c)(8) Popular Inc., Hato Rey, Puerto Rico, to acquire, through its wholly- 12/05/97

owned subsidiary, Popular Cash Express, Inc., eleven outlets of

Florida Exchange, Ltd., an Illinois corporation, and Mirando-J., Inc., a

Florida corporation, and thereby engage in certain nonbanking

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

Type Application comment period

Ending date of 

25 Republic National Bank of New York, New York, New York, and N/Avail

4(c)(13) Saban S.A., Marina Bay, Gibraltar, for an extension of time within

which to make indirectly an additional investment in Republic

National Bank of New York (France), Paris, France.

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 November 28,1997

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) Fulton Financial Corporation, Lancaster, PA, to acquire Keystone Fed. Reg. - N/Avail

Heritage Group, Inc., Lebanon, PA. Newspaper - N/Avail

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 

25 Bryn Mawr Trust Company, Scranton PA, to establish and invest in

Bryn Mawr Jersey Trust, Jersey, Channel Islands, pursuant to

Regulation K of the Federal Reserve Act..

25 MBNA America Bank, N.A., Wilmington, DE, investment in

MBNA Canada Bank, Gloucester, Ontario, Canada, pursuant to

Regulation K of the Federal Reserve Act.
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 11/29/97

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) Received notice from Premier Financial Bancorp, Inc., Georgetown, Fed Reg - 12/15/97

KY on November 14, 1997, of its intent to acquire Ohio River Bank,

Ironton, OH.

CIC Received notice of Change in Bank Control on November 24, 1997, N/Avail

from Andrew Godby; Bill David Godby; Christopher L. Godby; The

Clell Dean Godby Living Trust; David H. Godby; Joshua H. Godby;

Melodie Godby; Melvin M. Godby, Sr.; Melvin M. Godby, Jr.; Vicki

Godby; Clellan Prewitt; and Leora Prewitt, all of Somerset, KY of

their intent to control up to 46.10 percent of the outstanding voting

shares of First Commerce Bancorp, Inc., Somerset KY.

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

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 November 29, 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

844820 Bank of Tazewell County 9/8/97 11/23/97 Satisfac- Small

309 East Main Street tory

Tazewell, Virginia 24651-1029

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 November 29, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch The Bank of Nashville, Nashville, Tennessee, to establish a branch 12/01/97

located at 8200 Maryland Way, Brentwood, Tennessee.*

*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 Villages Bancorporation, Inc., Lady Lake, Florida, Prior notification N/Avail

by Mr. Gary Morse; Mark Morse Irrevocable Trust; Jennifer Boone

Irrevocable Trust; Tracy Mathews Irrevocable Trust; Mr. Mark

Morse; Ms. Jennifer Boone Parr; and Ms. Tracy Mathews, to acquire

34.54 percent of the outstanding shares of Villages Bancorporation,

Inc., Lady Lake, Florida. The acquisition will increase the total

ownership to 60.28 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 

4(c)(8) United Financial Holdings, Inc., St. Petersburg, Florida, to acquire N/Avail

United Trust Company, St. Petersburg, Florida (in organization), and

thereby engage de novo in trust activities.
Section IV - Applications not subject to Federal Register or newspaper notice

Type Application comment period

Ending date of 

S/R First Southern Bancorp, Inc., Boca Raton, Florida, to redeem 65,719

shares of its outstanding common stock. 

S/R Horizon Bancshares, Inc., Pensacola, Florida, to redeem 8,278 of its

outstanding common stock.

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

548735 Mobile County Bank 8/11/97 11/19/97 Satisfactory Small Bank

Post Office Box 327

Grand Bay, AL 36541

330837 First American Bank of Indian 8/11/97 11/20/97 Satisfactory Small Bank

River County

4000 20th Street

Vero Beach, FL 32960
Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

376237 Merchants & Farmers Bank of 8/18/97 11/27/97 Outstanding Small Bank

Greene County

Post Office Box 568

Eutaw, AL 35462

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 November 29, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Branch Old Kent Bank Newspaper - 12/6/97

Grand Rapids, Michigan

 15255 Michigan Avenue

 Dearborn, Michigan

Branch 1st Source Bank Newspaper - 12/22/97

South Bend, Indiana

 5631 Cleveland Avenue

 Stevensville, Michigan

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) Capitol Bancorp Ltd.* Fed Reg - 11/28/97

Lansing, Michigan Newspaper - 11/23/97

 Kent Commerce Bank (in organization)

 Kentwood, Michigan

CIC Mid-Iowa Bancshares, Co. Fed Reg - 11/21/97

Algona, Iowa Newspaper - 12/3/97

 Paul H. and Neva M. Johnson

3(a)(3) Heartland Bancshares, Inc.* Fed Reg - 12/5/97

Lenox, Iowa Newspaper - 12/15/97

 Union Bank of Arizona, N.A. (in organization)

 Gilbert, Arizona

3(a)(3) F&M Bancorporation, Inc.* Fed Reg - 12/15/97

Kaukauna, Wisconsin Newspaper - 12/18/97

 Sentry Bancorp, Inc.

 Edina, Minnesota

 Cannon Valley Bank

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

Type Application comment period

Ending date of 

3(a)(3) F&M Merger Corporation* Fed Reg - 12/15/97

Kaukauna, Wisconsin Newspaper - 12/18/97

 Sentry Bancorp, Inc.

 Edina, Minnesota

 Cannon Valley Bank

 Dundas, Minnesota

3(a)(3) First Busey Corporation* Fed Reg - 12/18/97

Urbana, Illinois Newspaper - 12/18/97

 Busey Business Bank (in organization)

 Indianapolis, Indiana

CIC Damen Financial Corporation Fed Reg - N/Avail

Schaumburg, IL Newspaper - N/Avail

 Southwest Financial Bank and Trust Company

 Employee Stock Ownership Plan

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 

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

554147 M&I Bank-Menomonee Falls 8/4/97 11/24/97 Satisfactory Large

N82 W15415 Appleton Avenue

P.O. Box 387

Menomonee Falls, WI 53052

(414) 255-4600

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 November 29, 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 9

Federal Reserve Bank of Minneapolis

Applications and notifications filed during the week of November 29, 1997

Section I - Applications subject to newspaper notice only

Type Application comment period

Ending date of 

Member Glacier National Bank, Kalispell, Montana, a de novo bank, for prior 12/23/97

approval to become a member of the Federal Reserve System.*

*Subject to the provisions of the Community Reinvestment Act.

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

Type Application comment period

Ending date of 

3(a)(3) Glacier Bancorp, Inc., Kalispell, Montana, for prior approval to Fed Reg - 12/29/97

acquire 100% of the voting shares of Glacier Bank, Kalispell,

Montana, a de novo bank.*

CIC Betty Lou Johnson as trustee for the Betty Lou Johnson Trust and Fed Reg - 12/18/97

Mark Johnson to acquire control of 100% of the voting shares of

Winthrop Bancshares, Inc., Winthrop, Minnesota.

*Subject to the provisions of the Community Reinvestment Act.

Section III - Applications subject to Federal Register notice only

Type Application comment period

Ending date of 

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

Type Application comment period

Ending date of 

S/R Liberty Bancshares, Inc., St. Paul, Minnesota, to redeem 4.99% of its

voting shares.

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

988658 Farmers State Bank of Madelia, 8/18/97 11/26/97 Outstanding Small Bank

Inc.

Madelia, Minnesota

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 10

Federal Reserve Bank of KansasCity

Applications and notifications filed during the week of November 29, 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 Michael D. Platt, Hardtner, Kansas; James L. Molz, Kiowa, Newspaper - 09/02/97

Kansas; David C. Collins, and Roland C. Pederson, both of Fed Reg - 12/12/97

Burlington, Oklahoma; to acquire voting shares of B-K Agency,

Inc., Hardtner, Kansas, and thereby indirectly acquire The Farmers

State Bank, Hardtner, Kansas.

CIC Jack L. Grimmett, Jr., and Robert B. Grimmett, both of Pauls Newspaper - 12/18/97

Valley, Oklahoma, for prior approval to acquire voting shares of Fed Reg - 12/16/97

Valley Bancshares, Inc., Pauls Valley, Oklahoma, and thereby

indirectly acquire Pauls Valley National Bank, Pauls Valley,

Oklahoma.

CIC Alan C. Porter, Chester, Nebraska; Warren V. Porter, Houston, Newspaper - 12/17/97

Texas; and Timothy H. Porter, Olathe, Kansas; to acquire voting Fed Reg - 12/16/97

shares of Chester Insurance Agency, Inc., Chester, Nebraska, and

thereby indirectly acquire State Bank of Chester, Chester,

Nebraska.

CIC Fred C. and Kellie P. Harlan, Okmulgee, Oklahoma; to acquire Newspaper - N/Avail

voting shares of First Okmulgee Corporation, Okmulgee, Fed Reg - 12/18/97

Oklahoma, and thereby indirectly acquire First National Bank &

Trust Company, Okmulgee, 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 

Member First Community Bank, Emporia, Kansas, for prior approval to

become a member of the Federal Reserve System.

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

638850 Fidelity State Bank & Trust Company 09/08/97 11/25/97 Satisfactory

510 2nd Street

Dodge City, Kansas 67801-1120

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 November 29, 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 Western Bank, Las Cruces, Employee Stock Ownership Plan, Las N/Avail

Cruces, NM, et al, to acquire an interest in Western Bancshares of

Las Cruces, Inc., Carlsbad, NM

CIC Michael S. Helfer, Washington, D.C., only notificant, to acquire Newspaper - 12/18/97

an interest in First Community Bancshares, Inc., Houston, TX

(Previously reported during the week of November 17, 1997)

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 

Member Texas Bank & Trust, National Association, Dallas, TX, to convert to

a state member bank.

Section V - Availability of CRA public evaluations

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

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

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

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

revised in May 1995.

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

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

facilities.

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

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

CRA:

Outstanding

Satisfactory

Needs to improve

Substantial noncompliance

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

RSSD Examination CRA CRA 

number Institution/Location date public date rating Exam type

None

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None
District 12

Federal Reserve Bank of San Francisco

Applications and notifications filed during the week of November 29, 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 

3(a)(5) Panhandle Bancorp, Sandpoint, Idaho, to become a bank holding

company by acquiring Panhandle State Bank, Sandpoint, Idaho.
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

20866 Home Valley Bank 7/14/97 11/24/97 Outstanding Small bank

103 S. Kerby Avenue

Cave Junction, OR 97523-0129

(541) 592-4663

Footnotes: The above listing has been prepared as a courtesy by the Federal Reserve Bank of San Francisco, and is

not intended to replace formal notices required by statute or regulation; the Reserve Bank assumes no responsibility

for errors or omissions.

Section VI - CRA examinations scheduled for Quarter of

Institution Location

None