Federal Reserve Release

H.2

Actions of the Board, Its Staff, 

and the Federal Reserve Banks; 

Applications and Reports Received

No. 31

Week Ending August 1, 1998

Board of Governors of the Federal Reserve System, Washington, DC 20551
H.2 Board Actions July 26, 1998 to August 1, 1998

Testimony And Statements

Regulation of over-the-counter derivatives -- statement by Chairman Greenspan 

before the Senate Committee on Agriculture, Nutrition, and Forestry, July 30, 1998.

- Published, July 30, 1998 

Bank Holding Companies

Istituto Bancario Sanpaolo di Torino, S.p.A., Turin, Italy -- to acquire the United 

States subsidiaries of Istituto Mobiliare Italiano S.p.A., Rome, Italy.

- Approved, July 27, 1998 

Banks, Foreign

Commerzbank AG, Frankfurt, Germany -- proposed trust agreement in connection 

with the acquisition of California Korea Bank, Los Angeles, California.

- Permitted, July 27, 1998 

Regulations And Policies

Federal Deposit Insurance Corporation -- letter to the FDIC concerning its proposal 

to allow state banks to invest in equity securities through subsidiaries.

- Approved, July 24, 1998 (AC)

Regulations H and Y -- final revisions of the risk-based and leverage capital 

guidelines for state member banks and bank holding companies (Docket No. R0976).

- Approved, July 24, 1998 (AC)

Enforcement

Bank of the Desert, N.A., Indio, California -- final decision and order of prohibition 

against Richard Salmon, a former institution-affiliated party.

- Announced, July 27, 1998 

(AC) = Addition or Correction Board - Page 1 of 1
July 26, 1998 to August 1, 1998

BS&R

C&CA

FOMC

RBOPS

IF

OSDM

Banking Supervision and Regulation

Consumer and Community Affairs

Federal Open Market Committee

Reserve Bank Operations and Payment

International Fiance

Office of Staff Director for Management

H.2 Actions under delegated authority

Bank Branches, Domestic

Bank of Essex, Tappahannock, Virginia -- to establish a branch at 9951 Brook Road, 

Glen Allen, Virginia.

- Approved, July 31, 1998 

Richmond

Centura Bank, Rocky Mount, North Carolina -- to establish a branch at 608 16th 

Avenue North, Myrtle Beach, South Carolina.

- Approved, July 28, 1998 

Secretary

Centura Bank, Rocky Mount, North Carolina -- to establish a branch at 203 

Washington Street, Whiteville, North Carolina.

- Approved, July 30, 1998 

Secretary

Heritage Bank and Trust, Norfolk, Virginia -- to establish a branch at the intersection 

of Chesapeake Boulevard and East Ocean View Avenue.

- Approved, July 30, 1998 

Richmond

Mobile County Bank, Mobile, Alabama -- to establish a branch at 5370 Highway 90 

West.

- Approved, July 27, 1998 

Atlanta

Summit Bank, Hackensack, New Jersey -- to establish a branch at 16-30th Street, 

Paterson, New Jersey.

- Approved, July 29, 1998 

New York

(AC) = Addition or Correction Delegated - Page 1 of 9
H.2 Actions under delegated authority July 19, 1998 to July 25, 1998

Bank Holding Companies

Associated Banc-Corp., Green Bay, Wisconsin -- waiver of application in connection 

with a proposed corporate reorganization.

- Returned, July 24, 1998 (AC)

Chicago

BancFirst Corporation, Oklahoma City, Oklahoma -- to merge with AmQuest 

Financial Corporation, Duncan, Oklahoma; and a related application by BancFirst, 

Oklahoma City, to merge with AmQuest Bank, N.A., Lawton, Oklahoma, and 

Exchange National Bank and Trust Company, Ardmore, Oklahoma.

- Approved, July 30, 1998 

Kansas City

Capitol City Bancshares, Inc., Atlanta, Georgia -- to acquire Capitol City Bank and 

Trust.

- Approved, July 31, 1998 

Atlanta

Cardinal Bankshares Corporation, Floyd, Virginia -- transfer agent registration.

- Approved, July 31, 1998 

Director, BS&R

Citizens Bancshares, Inc., Crawfordville, Florida -- to acquire Citizens Bank - 

Wakulla.

- Approved, July 28, 1998 

Atlanta

Citizens Bancshares, Inc., Salineville, Ohio -- to acquire Mid Am, Inc., Bowling 

Green, Ohio, and its bank and non-bank subsidiaries.

- Approved, July 29, 1998 

Cleveland

CNY Financial Corporation, Cortland, New York -- to acquire Cortland Savings 

Bank.

- Approved, July 30, 1998 

New York

(AC) = Addition or Correction Delegated - Page 2 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Bank Holding Companies

First Banks, Inc., Creve Coeur, Missouri, and CCB Bancorp, Inc., Newport Beach, 

California -- to acquire Republic Bank, Torrance, California.

- Approved, July 30, 1998 

St. Louis

FNB Corporation, Hermitage, Pennsylvania, and Southwest Banks, Inc., Naples, 

Florida -- to acquire Citizens Holding Corporation, Clearwater, Florida.

- Approved, July 31, 1998 

Cleveland

Frontier Financial Corporation, Everett, Washington -- transfer agent registration.

- Approved, July 31, 1998 

Director, BS&R

Greater Bay Bancorp, Palo Alto, California -- to acquire Pacific Business Funding 

Corporation, Cupertino, California.

- Approved, July 30, 1998 

San Francisco

McLaughlin Bancshares, Inc., Ralls, Texas -- to acquire First Petersburg Bancshares, 

Inc., Petersburg, Texas, and First State Bank.

- Approved, July 27, 1998 

Secretary

Mercantile Bancorporation, Inc., St. Louis, Missouri -- to acquire First Financial 

Bancorporation, Iowa City, Iowa, and First National Bank Iowa, N.A., and to merge 

First Financial Bancorporation into Ameribanc, Inc., St. Louis, Missouri.

- Approved, July 31, 1998 

Secretary

Northern Trust Corporation, Chicago, Illinois -- to acquire Northern Trust Bank, 

Federal Savings Bank, Bloomfield Hills, Michigan.

- Approved, July 29, 1998 

Chicago

(AC) = Addition or Correction Delegated - Page 3 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Bank Holding Companies

Norwest Corporation, Minneapolis, Minnesota; Norwest Mortgage, Inc., Des 

Moines, Iowa; and Norwest Ventures, LLC -- to acquire Southwest Partners, Inc., 

San Diego, California, and to establish joint ventures and engage in residential 

mortgage lending activities.

- Permitted, July 29, 1998 

Secretary

Old Kent Financial Corporation, Grand Rapids, Michigan -- to merge with First 

Evergreen Corporation, Evergreen Park, Illinois; and for Old Kent Bank, Grand 

Rapids, to merge with First National Bank of Evergreen Park, Evergreen Park, and 

establish branches.

- Approved, July 31, 1998 

Secretary

Pilot Grove Savings Bank Employee Stock Ownership Plan, Pilot Grove, Iowa -- to 

acquire shares of Pilot Bancorp, Inc., and to acquire Pilot Grove Savings Bank.

- Approved, July 29, 1998 

Chicago

Republic Security Financial Corporation, West Palm Beach, Florida -- request for 

waiver of application to merge with First Palm Beach Bancorp, Inc.

- Granted, July 29, 1998 

Atlanta

Suntrust Banks, Inc., Orlando, Florida, and Suntrust Banks of Florida, Inc. -- to 

merge with Citizens Bancorporation, Inc., Marianna, Florida, and to acquire Citizens 

Bank of Marianna and Gadsden State Bank, Gadsden, Florida.

- Approved, July 29, 1998 

Atlanta

Violeta Investments, Ltd., Hebronville, Texas -- to acquire Hebronville State Bank.

- Approved, July 28, 1998 

Dallas

(AC) = Addition or Correction Delegated - Page 4 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Bank Mergers

Hanmi Bank, Los Angeles, California -- to acquire and merge with First Global 

Bank, F.S.B.

- Approved, July 28, 1998 

San Francisco

Republic Security Bank, West Palm Beach, Florida -- to merge with First Bank of 

Florida.

- Approved, July 29, 1998 

Atlanta

Banks, Nonmember, And Miscellaneous Institutions

Amdahl Corporation, Sunnyvale, California -- deregistration pursuant to Regulation 

U.

- Approved, July 30, 1998 

San Francisco

Pacific Service Federal Credit Union, Concord, California -- deregistration pursuant 

to Regulation U.

- Approved, July 30, 1998 

San Francisco

Change In Bank Control

Allendale Bancorp, Inc., Allendale, Illinois -- change in bank control.

- Permitted, July 31, 1998 

St. Louis

Chandler Bancshares, Inc., Chandler, Minnesota -- change in bank control.

- Permitted, July 29, 1998 

Minneapolis

First Nebraska Bancs, Inc., Sidney, Nebraska -- change in bank control.

- Permitted, July 30, 1998 

Kansas City

(AC) = Addition or Correction Delegated - Page 5 of 9
H.2 Actions under delegated authority July 19, 1998 to July 25, 1998

Change In Bank Control

Guaranty Bancshares, Inc., Oklahoma City, Oklahoma -- change in bank control.

- Returned, July 23, 1998 (AC)

Kansas City

HBancorporation, Inc., Lawrenceville, Illinois -- change in bank control.

- Permitted, July 27, 1998 

St. Louis

Competitive Factors Reports

Farmers National Bank, Mullica Hill, New Jersey -- report on competitive factors of 

the proposed merger with and into Equity National Bank, Atco, New Jersey.

- Submitted, July 30, 1998 

Philadelphia

Fidelity Bank, Fuquay-Varina, North Carolina -- report on competitive factors of the 

proposed purchase of certain assets and assumption of the liabilities of three branches 

in Gastonia, North Carolina, and one branch in Salisbury, North Carolina, of FirstCitizens Bank & Trust Company, Raleigh, North Carolina.

- Submitted, July 30, 1998 

Richmond

First National Bank of Pennsylvania, Greenville, Pennsylvania -- report on 

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

certain liabilities of three branches of Mellon Bank, N.A., Pittsburgh, Pennsylvania.

- Submitted, July 28, 1998 

Cleveland

First Western Bank, N.A., New Castle, Pennsylvania -- report on competitive factors 

of the proposed merger with First Western Trust Services Company.

- Submitted, July 28, 1998 

Cleveland

(AC) = Addition or Correction Delegated - Page 6 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Competitive Factors Reports

Iberiabank, New Iberia, Louisiana -- report on competitive factors of the proposed 

purchase of certain assets and assumption of the liabilities of ten branches of Central 

Bank, Monroe, Louisiana, and seven branches of The First National Bank of 

Lafayette, Lafayette, Louisiana.

- Submitted, July 29, 1998 

Atlanta

Lincoln Bank of North Carolina, Lincolnton, North Carolina -- report on competitive 

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

the Mooresville, North Carolina, branch of Central Carolina Bank and Trust 

Company, Durham, North Carolina.

- Submitted, July 30, 1998 

Richmond

Nara Bank, N.A., Los Angeles, California -- report on competitive factors of the 

proposed purchase of assets and assumption of liabilities of the Flushing, New York, 

branch of Korea Exchange Bank.

- Submitted, July 29, 1998 

San Francisco

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

proposed merger with First Commercial Trust Company, N.A., Little Rock, 

Arkansas.

- Submitted, July 29, 1998 

Atlanta

S&T Bank, Indiana, Pennsylvania -- report on competitive factors of the proposed 

purchase of the assets and assumption of the liabilities of a branch of Mellon Bank, 

N.A., Pittsburgh, Pennsylvania.

- Submitted, July 28, 1998 

Cleveland

Sterling Bank, Houston, Texas -- report on competitive factors of the proposed 

merger with Humble National Bank, Humble, Texas.

- Submitted, July 30, 1998 

Dallas

(AC) = Addition or Correction Delegated - Page 7 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Competitive Factors Reports

The Bank, Warrior, Alabama -- report on competitive factors of the proposed 

merger with Commerce Bank of Alabama, Albertville, Alabama; The City National 

Bank of Sylacauga, Sylacauga, Alabama; First Citizens Bank of Monroe County, 

Monroeville, Alabama; and The Commercial Bank of Roanoke, Roanoke, Alabama.

- Submitted, July 29, 1998 

Atlanta

United Bank, Bangor, Maine -- report on competitive factors of the proposed 

acquisition of three branches of Fleet Bank of Maine, Portland, Maine.

- Submitted, July 27, 1998 

Boston

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

the proposed acquisition of eight branches of The First National Bank of Lake 

Charles, Lake Charles, Louisiana.

- Submitted, July 30, 1998 

Secretary

Currency

Federal Reserve notes -- letter confirming request for printing notes for fiscal year 

ending September 30, 1999.

- Approved, July 31, 1998 

Director, RBOPS

Extensions Of Time

Employee Stock Ownership Trust of People's Bank and Trust Company of Pickett 

County, Byrdstown, Tennessee -- extension to acquire shares of Upper Cumberland 

Bancshares, Inc.

- Granted, July 29, 1998 

Atlanta

Southern Heritage Bancorp, Inc., Oakwood, Georgia -- extension to acquire 

Southern Heritage Bank, Oakwood, Georgia.

- Granted, July 27, 1998 

Atlanta

(AC) = Addition or Correction Delegated - Page 8 of 9
H.2 Actions under delegated authority July 26, 1998 to August 1, 1998

Extensions Of Time

Unity Holdings, Inc., Cartersville, Georgia -- extension to acquire Unity National 

Bank.

- Approved, July 29, 1998 

Atlanta

USAL Bancorp, Inc., Union Springs, Alabama -- extension to acquire AmeriFirst 

Bank, N.A., Union Springs, Alabama.

- Granted, July 27, 1998 

Atlanta

Membership

Waverly Bank, Waverly, Missouri -- to become a member of the Federal Reserve 

System.

- Returned, July 31, 1998 

Kansas City

(AC) = Addition or Correction Delegated - Page 9 of 9
District 1

Federal Reserve Bank of Boston

Applications and notifications filed during the week ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Summit Bank, Hackensack, New Jersey, to establish branch offices

at the following locations: (i) 211 Elmore Avenue, Elizabeth, New

Jersey; and (ii) 1157 Route 46, Parsippany, New Jersey.*

08/05/1998

Branch European American Bank, Uniondale, New York, to establish a

branch ofice at 455 Albany Avenue, North Amityville, New

York.*

N/Avail

* Subject to the provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

3(a)(5) Summit Bancorp, Princeton, New Jersey, to acquire NSS Bancorp,

Inc., and its subsidiary, NSS Bank, both of Norwalk, Connecticut.

08/28/1998*

* Fed Reg - Federal Register Comment Period Ending Date

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

884303 Chemung Canal Trust Company

One Chemung Canal Plaza

Elmira, New York 14902

02/17/98 07/30/98 O x

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Summit Bank, Bethlehem, PA, to establish branch offices at

Genuardi’s Family Markets, 2850 Audubon Village Drive,

Audubon, Montgomery County, PA, and Country Square

Shopping Center, 1045 Bustleton Pike, Featerville, Bucks County,

PA

8/23/1998

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

CIC Change in Bank Control Notice received on July 29, 1998, filed by

shareholders of Alteirs Oil, Inc., Corning, OH of their intent to

retain shares of Bank of Corning Company, Corning, OH in an

individual capacity.

*Fed Reg – 8/19/1998

Section 3(a)(1) Received applications on July 27, 1998, from PHS Bancorp, Inc.,

Beaver Falls, PA of its intent to acquire 100% of the outstanding

voting shares of Peoples Home Savings Bank and from PHS

*Fed Reg – 8/27/198

Section 3(a)(3) Bancorp M.H.C., Beaver Falls, PA of its intent to acquire 55% of

the outstanding voting shares of PHS Bancorp, Inc.

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

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

Type Application

None

Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 5

Federal Reserve Bank of Richmond

Applications and notifications filed during the week ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Bank of Isle of Wight, Smithfield, Virginia, to establish a branch

at 4000 George Washington Memorial Highway, Yorktown,

Virginia.*

8/21/1998

18(c) The Bank of Monroe, Union, West Virginia, to merge with Monroe

Interim Bank, Union, West Virginia.*

9/3/1998

* Subject to the provisions of the Community Reinvestment Act.

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

Type Application

Ending date of

comment period

3(a)(3) First Union Corporation, Charlotte, North Carolina, to increase its

investment in United Bancshares, Inc., Philadelphia,

Pennsylvania.*

Fed Reg – 8/21/1998

Newspaper – 8/22/1998

3(a)(3) Sandy Spring Bancorp, Inc., Olney, Maryland, to acquire 8.02% of

the voting shares of Community Bankshares of Maryland, Inc.,

Bowie, Maryland.*

Fed Reg – N/Avail

Newspaper – N/Avail

4(c)(8) United Bankshares, Inc., Charleston, West Virginia, to acquire Fed

One Bank, Wheeling, West Virginia.*

Fed Reg – N/Avail

Newspaper – 8/26/1998

3(a)(1) Union Bankshares, Inc., Union, West Virginia, to become a bank

holding company through the acquisition of 100% of the voting

shares of The Bank of Monroe, Union, West Virginia.*

Fed Reg – N/Avail

Newspaper – 9/3/1998

* Subject to the provisions of the Community Reinvestment Act.

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

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

Type Application

None

Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch AmSouth Bank, Birmingham, Alabama, to establish a branch

located at 5950 Beneva Road, Sarasota, Florida.

08/21/1998*

Branch Compass Bank, Houston, Texas, to establish a branch located at

2401 South Congress, Austin, Texas.

08/21/1998*

Branch Compass Bank, Houston, Texas, to establish a branch located at

the corner of FM 2222 and Loop 620, Austin, Texas.

08/22/1998*

18(c) Compass Bank, Birmingham, Alabama, to merge with Compass

Bank, Houston, Texas.

08/24/1998*

*Subject to provisions of the Community Reinvestment Act.

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

Type Application

Ending date of

comment period

3(a)(5) Alabama National BanCorporation, Birmingham, Alabama, to

merge with Community Financial Corporation, Mableton, Georgia,

and thereby acquire Georgia State Bank, Mableton, Georgia.

Fed Reg – 08/24/1998*

3(a)(3) First American Corporation, Nashville, Tennessee, to acquire

Pioneer Bancshares, Inc., Chattanooga, Tennessee, and thereby

indirectly acquire Pioneer Bank, Chattanooga, Tennessee, and

Valley Bank, Sweetwater, Tennessee.

N/Avail*

4(c)(8) First American Corporation, Nashville, Tennessee, to acquire

Pioneer Bancshares, Inc., Chattanooga, Tennessee, and its

subsidiary, Pioneer Bank, f.s.b., East Ridge, Tennessee, and

thereby engage in operating a savings association.

N/Avail*

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

Type Application

Ending date of

comment period

None

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

Type Application

None

Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Northern Trust Company

Chicago, Illinois

 2812 W. Fullerton Avenue

 Chicago, Illinois

Newspaper – 8/21/1998

Branch NBD Bank

Detroit, Michigan

 29200 N. Campbell Road

 Madison Heights, Michigan

Newspaper – 8/14/1998

Newspaper - Newspaper Comment Period Ending Date

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

Type Application

Ending date of

comment period

3(a)(3) First Belmond Bancorporation*

Belmond, Iowa

 Community Bank of Oelwein (in organization)

 Oelwein, Iowa

Fed Reg – 8/27/1998

Newspaper – 8/20/1998

3(a)(3) Capitol Bancorp Ltd.*

Lansing, Michigan

 Detroit Commerce Bank (in organization)

 Detroit, Michigan

Fed Reg – 8/14/1998

Newspaper – 8/16/1998

3(a)(3) Capitol Bancorp Ltd.*

Lansing, Michigan

 Mesa Bank (in organization)

 Mesa, Arizona

Fed Reg – 8/14/1998

Newspaper – 8/16/1998

3(a)(3) Sun Community Bancorp Limited*

Phoenix, Arizona

 Mesa Bank (in organization)

 Mesa, Arizona

Fed Reg – 8/14/1998

Newspaper – 8/16/1998
Section II – Applications subject to both newspaper and Federal Register notice

Type Application

Ending date of

comment period

CIC Union-Adams Bancorp.

Creston, Iowa

 By Karl W. Knock

Fed Reg – N/Avail

Newspaper – N/Avail

* Subject to the provisions of the Community Reinvestment Act

Fed Reg - Federal Register Comment Period Ending Date

Newspaper - Newspaper Comment Period Ending Date

N/Avail - Not Available (Not yet available; Not available at this time)

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch *Notice by Heber Springs State Bank, Heber Springs, Arkansas,

to establish a branch at 1510 Highway 25B North, Heber Springs,

Arkansas.

8/11/1998

Branch *Notice by Simmons First Bank of Russellville, Russellville,

Arkansas, to establish a branch at 2500 West Main, Russellville,

Arkansas.

8/10/1998

* Subject to the provisions of the Community Reinvestment Act

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

1001853 Citizens Bank, New Haven, MO. 4/20/1998 7/31/1998 O X

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

954550 La Crescent State Bank

La Crescent, Minnesota

4/27/1998 7/31/1998 O X

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None
District 10

Federal Reserve Bank of Kansas City

Applications and notifications filed during the week ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch BancFirst, Oklahoma City, Oklahoma, for prior approval to

establish a branch at 1620 S.W. 89th Street, Oklahoma City,

Oklahoma.

Newspaper – 08/21/1998

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

Type Application

Ending date of

comment period

3(a)(1) RSNB Bancorp, Rock Springs, Wyoming, for prior approval to

become a bank holding company through the acquisition of 100

percent of the voting shares of Rock Springs National Bank, Rock

Springs, Wyoming.

Newspaper – N/Avail

Fed Reg – 08/28/1998

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

3(a)(1) Citizens Bancshares, Inc., Edmond, Oklahoma, to become a bank

holding company through the acquisition of 100 percent of the

voting shares of Citizens Bank & Trust Company, Edmond,

Oklahoma.
Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

4(c)(8) Commerce Financial Corporation, Topeka, Kansas, for prior

approval to acquire 9.4 percent of the voting shares of Financial

Institution Technologies d/b/a SUNTELL, a Kansas Corporation,

and thereby indirectly engage in data processing activities.

Member Olathe State Bank, Olathe, Colorado, for membership in the

Federal Reserve System.

Member Bank of Western Oklahoma, Elk City, Oklahoma, for membership

in the Federal Reserve System.

Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

888758 Bank of Boulder

3033 Iris Avenue

Boulder, Colorado 80301

05/18/1998 07/30/1998 S X

576952 First Nebraska Bank

232 N. Spruce

Valley, Nebraska 68064-9673

04/27/1998 07/30/1998 S X

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

None

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

Type Application

Ending date of

comment period

3(a)(1) Texas Capital Bancshares, Inc., Dallas, TX, to acquire

Resource Bank, N.A., Dallas, TX *

Fed Reg – 08/12/1998

Newspaper – 08/12/1998

* Subject to the provisions of the Community Reinvestment Act

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

None

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

Type Application

None
Section V – Availability of CRA public evaluations

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.

Federal bank regulators use the following performance levels to rate an institution's performance under CRA:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

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 ending Saturday, August 1, 1998

Section I – Applications subject to newspaper notice only

Type Application

Ending date of

comment period

Branch Valley Independent Bank, El Centro, California, to establish a

branch ofice at 333 City Blvd., West, 17th Floor, Orange,

California. *

Newspaper 7/15/1998

Branch Valley Independent Bank, El Centro, California, to establish a

branch office at 6120 Paseo Del Norte, Suite Q1, Carlsbad,

California. *

Newspaper 7/15/1998

* Subject to the provisions of the Community Reinvestment Act

 Newspaper - Newspaper Comment Period Ending Date

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

Type Application

Ending date of

comment period

None

Section III – Applications subject to Federal Register notice only

Type Application

Ending date of

comment period

4(c)(8) Banque Nationale de Paris, Paris, France, to engage in leasing of

personal property through FHL Lease Holding Company,

Honolulu, Hawaii.

Fed Reg 8/19/1998

4(c)(8) Community West Bancshares, Goleta, California, to acquire

Palomar Savings and Loan Association, Escondido, California.

Fed Reg 8/28/1998

Fed Reg - Federal Register Comment Period Ending Date
Section IV – Applications not subject to Federal Register or newspaper notice

Type Application

COM Refiled: Palm Desert Investments, Palm Desert, California,

requests a relief of a commitment made for Kevin McGuire not to

acquire additional shares of stock without the prior approval of the

Federal Reserve System.

Section V – Availability of CRA public evaluations

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:

O = Outstanding

S = Satisfactory

NI = Needs to improve

SN = Substantial noncompliance

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

RSSD Exam type

number Institution/Location

Examination

date

CRA

public date

CRA

rating LrgBk SmBk

None

Section VI – CRA examinations scheduled for Quarter of

Institution Location

None