ANNOUNCEMENT BY

BOARD CF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM 03.2, 1979 No. 44)

Actions of the Board; Applications and Reports

Received During the Week Ending November 3, 1979 APPLICABLE RESERVE BANK ACTIONS OF TOE BOARD

Statement of Vice Chairman Frederick H. Schultz, before the House Committee on Small Business, Subcommittee on Access to Equity Capital and Business Opportunities to discuss the impact on small business of the Federal Reserve actions announced on October 6.

Statement by Governor J. Charles Partee, before the Sub-committee on Federal Spending Practices and Open Government of the Senate Committee an Governmental Affairs on S. 1411, a bill to reduce paperwork and to put effective controls on the process of imposing reporting and recordkeeping requirements on the public.

Regulation K, International Banking Operations, interstate banking restrictions for foreign banks; comments on proposed rule must be received by January 4, 1980.

Reporting forms, F.R. Y-7, proposed two bank reporting forms to be used by foreign banking organizations to meet supervisory requirements of the Bank Holding Company Act and of the International Banking Act of 1978; the Board requested comment by January 4, 1980.

Regulation Y revision, to authorize bank holding companies or their nonbank subsidiaries to act as agent for the sale of general insurance in communities with a popula-tion of less than 5,000, effective December 5, 1979. (Docket No. R-0050-B)

Atlanta Issuance of subordinated capital notes by First City Bank of Gainesville, Gainesville, Florida.

Boston Connecticut Bank and Trust Company, Hartford, Connecticut, to issue bankers' acceptances up to 100 per cent of its capital and surplus. 1/

Dallas First International Bank in Houston, N.A., Houston, Texas, to accept drafts or bills of exchange up to 100 per cent of capital and surplus. 1/

17 Application processed on behalf of the Board of Governors under delegated authority.

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H.2, 1979 No. 44 — 2 —

ACTIONS OF IHE BQARD-Continued

Kansas City Citizens Ban-Corporation, Rock Port, Missouri, extension of time to December 30, 1979, within which to consum-mate the acquisition of Farmers & Merchants Bank of Elmo, Elmo, Missouri. 1/

Dallas Corsicana Bancshares, Inc., Corsicana, Texas, extension of time to December 5, 1979, within which to consummate the acquisition of Corsicana National Bank, Corsicana, Texas. 1/

Chicago Indiana National Corporation, Indianapolis, Indiana, ex-tension of time to December 8, 1980, within which Indiana Mortgage Corporation, a wholly-owned subsidiary, must divest of a parcel of land identified as Klingbeil-Land, Indianapolis. 1/

Chicago Pacesetter Financial Corporation, Grand Rapids, Michigan, extension of time to January 31, 1980, within which to acquire 100 per cent of the voting shares of Pacesetter Bank-Lansing, N.A., Lansing, Michigan (in organization). 1/

Atlanta Central Bank of Montgomery, Montgomery, Alabama, an in-vestment in leasehold improvements. 1/

Chicago CitizensTrust and Savings Bank, South Haven, Michigan, an investment in bank premises, 1/

Chicago Hendricks County Bank and Trust Company, Brcwnsburg, Indiana, an investment in bank premises. 1/

Richmond Peoples Bank of Hanover County, Mechanicsville, Virginia, an investment in bank premises. 1/

Richmond South Boston Bank and Trust Company, South Boston, Virginia, an investment in bank premises. V

New York United States Trust Company of New York, New York, New York, an investment in bank premises. 1/

Kansas City Webb City Bank, Webb City, Missouri, an investment in bank premises. 1/

St. Louis Jefferson City Production Credit Association, Jefferson City, Missouri, termination of registration under Regulation G. 1/

1/ Application processed on behalf of the Board of Governors under delegated authority.

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ACTIONS CF TOE BQARD-Continued

Richmond Bank of Virginia, Richmond, Virginia, extension of time within which to establish a branch at 730 Berryville Avenue, Winchester, Virginia. 1/

New York Long Island Bank, Hicksville, New York, extension of time within which to establish a branch office at Executive Drive, Plainview, New York. 1/

Chicago

San Francisco

Dallas

San Francisco

San Francisco

Atlanta

Philadelphia

San Francisco

Old Kent Bank of Kentwood, Kentwood, Michigan, exten-sion of time to June 27, 1980, within which to estab-lish a branch at 4433 Breton Road, S.E., Kentwood, Michigan. 1/

United California Bank, Los Angeles, California, exten-sion of time to May 10, 1980, within which to estab-lish a branch office in the vicinity of Lindbrobk Drive and Gayley Avenue, Westwood Village, Los Angeles, California. 1/

Allied Cypress Bank, Cypress, Texas, proposed merger with Cypress Bank, Cypress, Texas; report to the Federal Deposit Insurance Corporation on competitive factors. 1/

American Commercial Bank, Spokane, Washington, proposed merger with Pacific National Bank of Washington, Seattle, Washington; report to the Comptroller of the Currency on competitive factors. 1/

California Pacific Bank, Fullerton, California, proposed merger with Republic Bank, Gardens, California; report to the Federal Deposit Insurance Corporation on compet-itive factors. 1/

Deposit Guaranty National Bank, Jackson, Mississippi, pro-posed merger with The Bank of Ivemess, Inverness, Mississippi; report to the Comptroller of the Currency on competitive factors. 1/

First National Bank of Shippensburg, Shippensburg, Pa., proposed merger with Commonwealth National Bank, Harrisburg, Pa., under the charter and title of Common-wealth National Bank; report to the Comptroller of the Currency on competitive factors. 1/

French Bank of California, San Francisco, California, proposed merger with Bank of the West, San Jose, California; report to the Federal Deposit Insurance Corporation on Competitive factors. 1/

1/ Application processed on behalf of the Board of Governors under delegated authority.

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ACTIONS OF THE BQAREHContinued

Chicago Hickory National Bank of Michigan, Sturgis, Michigan, and Branch County Bank, Coldwater, Michigan, proposed merger; report to the Comptroller of the Currency on competitive factors. 1/

Dallas Mercantile Bank of Houston, Texas, proposed merger with with Allied Mercantile Bank, Houston, Texas; report to the Federal Deposit Insurance Corporation on compet-itive factors* 1/

Philadelphia Schuylkill Haven Trust Company, Schuylkill Haven, Penn-sylvania, proposed merger with American Bank and Trust Co. of Pa., Reading, Pennsylvania, under the title and charter of American Bank and Trust Co. of Pa.; report sent to the Federal Deposit Insurance Corporation on competitive factors. 1/

Dallas

San Francisco

Texas Bank and Trust Company, Jacksonville, Texas, pro-posed merger with Allied Texas Bank, Jacksonville, Texas; .report to the Federal Deposit Insurance Corpora-tion on competitive factors. 1/

Vista National Bank, Vista, California, proposed merger with First National Bank of San Diego County, Escondido, California; report to the Comptroller of the Currency on competitive factors. 1/

1/ Application processed on behalf of the Board of Governors under delegated authority.

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Chicago

Chicago

Chicago

Chicago

ACTIONS OF THE BQARD-Continued

To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

Approved Citizens Bank and Trust Company, Clare, Michigan. Branch to be established in the vicinity of 3980 S. Mission Street, Union Township, Michigan. 1/ & 2/

American Trust & Savings Bank, Dubuque, Icwa. To estab-lish an EFT branch at Randall's Foodarama, 2600 Dodge Street, Dubuque, Icwa. 1/ & 2/

Manufacturers Bank of Livonia, Livonia, Michigan. Branch to be established on the west side of Middlebelt Road between Seven Mile Road and Clarita Avenue, Livonia, Wayne County, Michigan. 1/ & 2/

Manufacturers Bank of Livonia, Livonia, Michigan. Branch to be established at the northwest corner of Commerce and Burns Roads, Milford Township, Oakland County, Michigan. 1/ & 2/

* * * * *

To Establish an Overseas Branch of a Member Bank Pursuant to Section 25 of the Federal Reserve Act

Approved St. Louis The Boatmen's National Bank of St. Louis, St. Louis,

Missouri: grants permission to establish a branch in George Team, Grand Cayman, Cayman Islands, British West Indies.

* * * * *

To Form a Bank Holding Company Pursuant to Section 3 (a) (1) of the Bank Holding Company Act of 1956

Withdrawn St. Louis Mid-Missouri Bancshares, Inc., Belle, Missouri, for ap-

proval to acquire 95.6 per cent of the voting shares of Belle State Bank, Belle, Missouri. 2/

17 Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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H.2, 1979 No. 44 — 6 —

ACTIONS OF THE BQARD-Continued

improved Atlanta America Corporation, Morgan City, Louisiana, for approval

to acquire 45 per cent of the voting shares of American Bank in Louisiana, Morgan City, Louisiana, a proposed new bank. 1/ & 2/

Atlanta Bay Springs Financial Corporation, Bay Springs, Mississippi, for approval to acquire 80 per cent or more of the voting shares of Bay Springs Bank, Bay Springs, Mississippi. 1/ & 2/

Atlanta First National Bancorp of the South, Inc., Opp, Alabama, for approval to acquire 90 per cent or more of the voting shares of Bank of Floralo, Florala, Alabama. This bank was mistakenly left off of H.2 No. 43. 1/ & 2/

Chicago Astoria Investment Company, Astoria, Illinois, for approval to acquire 100 per cent of the voting shares of Farmers State Bank of Astoria, Astoria, Illinois. 1/ & 2/

Minneapolis Empire Bancshares, Inc., Cottonwood, Minnesota, for ap-proval to acquire 84.27 per cent of the voting shares of Empire State Bank, Cottonwood, Minnesota. 1/ & 2/

Minneapolis Pembina County Bankshares, Ltd., Cavalier, North Dakota, for approval to acquire 99.3 per cent of the voting shares of Citizens State Bank of Pembina County, Cavalier, North Dakota. 1/ & 2/

Kansas City First Mangurn Corp., Mangum, Oklahoma, for approval to acquire more than 80 per cent of the voting shares of The First National Bank of Mangum, Mangum, Oklahoma. V & 2/

Kansas City Pender State Corporation, Pender, Nebraska, for approval to acquire 80 per cent or more of the voting shares of Pender State Bank, Pender, Nebraska. 1/ & 2/

Kansas City UBT Bancorp, Inc., Bartlesville, Oklahoma, for approval to acquire 100 per cent (less directors' qualifying shares) of the voting shares of Union Bank and Trust, Bartlesville, Oklahoma. 1/ & 2/

1/ Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period.

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H.2, 1979 No. 44

Chicago

Dallas

San Francisco

— 7 —

ACTIONS OF THE BOAICHuontinued

To Expand a Bank Holding Company Pursuant to Section 3(a) (3) of the Bank Holding Company Act of 1956

Approved Farmers City Agency, Inc., Farmer City, Illinois, for approval to acquire 9.3 additional shares of the voting shares of Farmer City State Bank, Farmer City, Illinois. 1/ & 2/

Republic of Texas Corporation, Dallas, Texas, for ap-proval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Republic Bank of Irving, Irving, Texas, a proposed new bank. 1/ & 2/

First Security Corporation, Salt Lake City, Utah, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of First Security Bank of St. George, National Association, St. George, Utah, a proposed new bank. 1/ & 2/

* * * * *

Chicago

To Expand a Bank Holding Company Pursuant to Section 3(a) (5) of the Bank Holding Company Act of 1956

Denied Old Kent Financial Corporation, Grand Rapids, Michigan, for approval to merge with Peoples Banking Corpora-tion, Bay City, Michigan. 2/

* * * * *

To Expand a Bank Holding Company Pursuant to Section 4 (c) (8) of the Bank Holding Company Act of 1956

Returned Chicago Indiana National Corporation, Indianapolis, Indiana,

for approval to continue to engage in the activities of making, acquiring for its a m account or for the account of others, loans and other extensions of credit, and leasing real property, through Applicant's wholly-owned subsidiary, Indiana Mortgage Corporation, Indianapolis, Indiana.

l7 Application processed on behalf of the Board of Governors under delegated authority.

2/ Application subject to Community Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the Garment period.

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H.2, 1979 No. 44 — 8 —

ACTICNS OF THE BQARD-Ctontinued

Chicago Approved

First Chicago Corporation, Chicago, Illinois, for ap-proval to engage, through its de novo subsidiary, First Chicago Cheque Corporation, Chicago, Illinois, in the issuance and sale of traveler's checks.

Kansas City UBT Bancorp, Inc., Bartlesville, Oklahoma, for approval to engage de novo in the sale of credit-related in-surance through UBT Business Trust which will own 100 per cent of UBT Insurance Agency, Inc., Bartlesville, Oklahoma. 1/

Delayed Boston Industrial National Corporation, Providence, Rhode Island,

notification of intent to relocate de novo activities (origination and sale of loans for the purchase of mo-bile hemes; servicing of mobile hone loans; and in-surance agency for the sale of property and casualty insurance sold in connection with extensions of credit) frcm 4635 S.W. Freeway, Houston, Texas to Southgate Building, 2101 South IH35, Austin, Texas, through its subsidiary, Kensington Mortgage and Finance Corporation (10/29/79) 3/

Permitted New York Chemical New York Corporation, New York, New York, notifi-

cation of intent to engage in de novo activities (operating a finance company, including making or acquiring for its own account loans and other extensions of credit and servicing loans and other extensions of credit; such activities will include, but not be limited to, making or acquiring loans to easterners; purchasing installment sales finance contracts; making or acquiring, loans and other extensions of credit to businesses (including inventory financing); making or acquiring, extensions of credit secured by personal property lease contracts; acting as agent or broker for the sale of credit life, and credit accident and health insurance directly related to its extensions of credit) at 6433 Georgetown North Boulevard, Fort Wayne, Indiana, through its subsidiary, Sunamerica Financial Corporation (11/2/79) 3/

New York Citicorp, New York, New York, notification of intent to engage in de novo activities (making consumer install-ment personal loans, purchasing and servicing for its cwn account consumer installment sales finance contracts, making loans to individuals and businesses secured by real and personal property, the proceeds of which may be for purposes other than personal, family or household

17 Application processed on behalf of the Board of Governors under delegated authority

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

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ACTIONS GF THE BQARD-Continued

usage; and sale of credit related life and accident and health or decreasing or level (in the case of single payment loans) term life insurance and the sale of credit related property and casualty insurance protecting personal and real property subject to a security agreement with Nationwide Financial Corpora-tion of Missouri) at Plaza Ttwers Office Building, 1736 East Sunshine, Suite 102, Springfield, Missouri, through a subsidiary, Nationwide Financial Corporation of Missouri (10/28/79) 3/

Philadelphia Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo activities (the origination of FHA, VA and Conventional residental mortage loans) at 7900 Sudley Road, Suite 424, Manassas, Virginia, through its subsidiary, Colonial Mortgage Service Company Associates, Inc. (10/30/79) 3/

Philadelphia Philadelphia National Corporation, Philadelphia, Pennsylvania, notification of intent to engage in de novo activities (the origination of FHA, VA and con-ventional residential mortgage loans) at the Airbers Meadows Professional Building, 198 Thomas Johnson Road, Frederick, Maryland, through its subsidiary, Colonial Mortgage Service Company Associates, Inc. (11/5/79) 3/

San BankAmerica Corporation, San Francisco, California, Francisco notification of intent to relocate de novo activities

(making or acquiring, for their own account extensions of credit such as would be made or acquired by a fi-ance company and servicing loans and other extensions of credit; FinanoeAmerica Corporation of Ohio will engage in making consumer installment loans, loans to small businesses and will purchase installment sales finance contracts; FinanoeAmerica Discount Company of Ohio will engage in making loans secured by real prop-erty or secured by a combination of real and personal property; in connection with the extensions of credit made or acquired by said corporations, both corpora-tions will offer credit related life insurance; Finance-America Corporation of Ohio will also offer credit re-lated accident and disability insurance and credit related property insurance) from 11 West Ohio Avenue, Mt. Vernon, Ohio to 791 South State Street, Westerville, Ohio, through it indirect subsidiaries, FinanoeAmerica Corporation of Ohio and FinanoeAmerica Discount Company of Ohio (10/30/79) 3/

3/ 4 (c) (8) or 4 (c) (12) notification processed by Reseve Bank on behalf of the Board of Governors under delegated authority.

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ACTIONS OF THE BCARD-Oontinued

To Expand a Bank Holding Company Pursuant to Section 4(c) (12) of the Bank Holding Company Act of 1956

Permitted Kansas City Baldwin-United Corporation/ Cincinnati, Ohio, notifi-

cation of intent to acquire up to 100 per cent of the outstanding capital stock of Farmers and Ranchers Life Insurance Company, an Oklahoma Corporation, through their subsidiary, National Farmers Union Service Corporation (a Delaware Corporation) (11/1/79) 3/

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

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H.2, 1979 No. 44

Richmond

Atlanta

San Francisco

San Francisco

- 1 1 -

APPKECATIONS RECEIVED

To Establish a Domestic Branch Pursuant to Section 9 of the Federal Reserve Act

First Virginia Bank, Shenandoah Valley, Woodstock, Virginia. Branch to be established in the Royal Plaza Shopping Center on South Street, Front Royal, Virginia. 2/

Sunset Commercial Bank, South Miami, Florida. Branch to be established to be known as Coral - Gables, South Miami Branch. 2/

Valley Bank of Nevada, Las Vegas, Nevada. Branch to be established in the vicinity of the intersection of Tonqpah Avenue and U.S. Highway 95, Tbnopah, Nye County, Nevada. 2/

Valley Bank of Nevada, Las Vegas, Nevada. Branch to be established in the vicinity of the intersection of Crummer Lane and South Virginia Street, in the County of Washoe, adjacent to the Annexed Portions of the City of Reno, Nevada. 2/

* * * * *

To Merge Pursuant to Section 18(c) of the Federal Deposit Insurance Act

Dallas Port City State Bank, Houston, Texas, for prior approval to merge with the New Port City State Bank, Houston, Texas. 2/

* * * * *

To Form a Bank Holding Company Pursuant to Section 3(a) (1) of the Bank Holding Company Act of 1956

Cleveland Falmouth Bancorporation, Falmouth, Kentucky, for approval to acquire 2,000 shares of The Falmouth Deposit Bank, Falmouth, Kentucky. 2/

Atlanta Century New Orleans Bancshares, Inc., New Orleans, Louisiana, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of Century National Bank in New Orleans, New Orleans, Louisiana. 2/

2/ Application subject to Community Reinvestment Act. The Ccmnunity Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the comment period. Digitized for FRASER

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H.2, 1979 No. 44 — 12 —

APPLICATIONS REX2EIVED-€ontinued

Chicago Cary/Grove Bancorp, Inc. r Gary, Illinois, for approval to acquire 80 per cent or more of the voting shares of Suburban Bank of Cary-Grove, Gary, Illinois. 2/

Chicago Hoffman Bancorp, Inc., Hoffman Estates, Illinois, for approval to acquire 100 per cent of the voting shares (less directors' qualifying shares) of the successor by merger to Suburban Bank of Hoffman-Schaurrtourg, Schaumburg, Illinois. 2/

Chicago Marshall - Putman County BanCorporation, Inc., Varna, Illinois, for approval to acquire 86 per cent or more of the voting shares of Marshall County State Bank, Varna, Illinois. 2/

Kansas City Crested Butte Bankshares, Inc., Crested Butte, Colorado, for approval to acquire 80 per cent or more of the voting shares of Crested Butte State Bank, Crested Butte, Colorado. 2/

Kansas City Lindsay State Company, Lindsay, Nebraska, for approval to acquire not less than 80 per cent of the voting shares of The Bank of Lindsay, Lindsay, Nebraska. 2/

Dallas Enterprise Bancshares, Inc., Mount Enterprise, Texas, for approval to acquire 80-99.87 per cent of the voting shares (less directors' qualifying shares) of Merchants & Planters State Bank, Mount Enterprise, Texas. 2/

* * * * *

To Expand a Bank Holding Company Pursuant to Section 4(c) (8) of the Bank Holding Company Act of 1956

Boston Old Stone Corporation, Providence, Rhode Island, notification of intent to engage in de novo activities (the origination, sale and servicing of first and second mortgage loans; and the sale of credit life, and credit accident and health insurance offered in connection with extensions of credit) at Suite 204, 6100 Charming Way Boulevard, Columbus, Ohio, through a new indirect subsidiary, DAC Corporation of Ohio (10/29/79) 3/

27 Application subject to Contnunity Reinvestment Act. The Community Reinvestment Officer of the applicable Reserve Bank may be contacted as to the length of the canment period.

3/ 4(c) (8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

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H.2, 1979 No. 44 - 1 3 -

APPLICATIONS REX̂ EIVEIMjantlnued

Manufacturers Hanover Corporation, New York, New York, notification of intent to engage in de novo activities (in making or acquiring, for its cwn account or for the account of others, loans and other extensions of credit such as would be made by a commercial finance company; and arranging or servicing such loans and other extensions of credit for any person) at The Sears Ttawer, 233 South Wacker Drive, Chicago, Illinois, through its subsidiary, Manufacturers Hanover Commercial Corporation (Del.) (11/1/79) 3/

ISO© Corporation, Charlotte, North Carolina, for approval to retain indirect ownership and control of Superior Insurance Company, Florence, South Carolina.

Southern Bancorporation, Inc., Greenville, South Carolina, notification of intent to engage in de novo activities (making extensions of credit as consumer finance lenders; and acting as agent for the sale of credit property insurance, accident and disabilty in-surance, and credit related life insurance issued directly in connection with the above-mentioned ex-tensions of credit) at 11 First Street, Moultrie, Georgia, and 115 East 2nd Street r Tifton, Georgia, through its subsidiary, World Acceptance Corporation (10/29/79) 3/

Chicago Banks of Iowa, Inc., Cedar Rapids, Iowa, Notification of intent to engage in de novo activities (making or acquiring real estate loans for its own account, servicing real estate loans? and acting as agent or broker with respect to credit life and credit accident and health insurance that is directly related to loans made or acquired for its own account or for the account of subsidiary banks) at 245 South 84th Street, Lincoln, Nebraska, through a subsidiary, BI Mortgage Company, Inc. (11/2/79) 3/

Chicago Continental Illinois Corporation, Chicago, Illinois, notification of intent to engage in de novo activities (to engage in leasing and direct lencEng activities) in PeQjbas, Texas, through its subsidiary, Continental

(11/2/79) 3/

St. Louis First Tennessee National Cca^ofc^ony Memphis, Tennessee, far app&ral to retain 100 per cent ownership of the voting shares of Norlen Life Insurance Company, Phoenix, Arizona.

New York

Richmond

Richmond

37 4(c)(8) or 4(c) (12) notification processed by Reserve Bank on behalf of the Board of Governors under delegated authority.

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APPLICATIONS REXZEIVEIM̂ ntdLnued

Kansas City American Bancorporation, Inc., Kansas City, Missouri, notification of intent to engage in de novo activities (to engage in mortgage banking activities) at 99th and Holmes, Kansas City, Missouri, through its subsidiary, American Mortgage Company (10/31/79) 3/

Kansas City Century Bancorporation, Tulsa, Oklahoma (formerly First State Bancorp), notification of intent to engage in de novo activities (the origination and procurement of consumer loans on a direct and indirect basis, these loans will be made to individuals for a multitude of purposes including the purchasing of autmbiles, household goods, furniture, recreational vehicles and mobile hones, personal loans will also be made for the purpose of consolidation of debts, payment of professional services and other personal expenditures; these loans will be made on a secured, unsecured or endorsed basis; first mortgage real estate loans wil be made to individuals and businesses to finance the purchase of residential or commercial property, second mortgage loans will be made to individuals and businesses for various purposes such as heme improvement, consolida-tion of debts, temporary and long-term working capital; ocrarercial loans will be made to businesses on a short-term or long-term basis to finance seasonal increases in working capital or to carry increased inventories and accounts receivable, finance purchases of industrial and ccmtercial equipment) at 6229 East 21st Street, Tulsa, Oklahoma, through a subsidiary, Action Financial Corporation to be called "Action Financial Center" (11/2/79) 3/

Kansas City Colorado National Bankshares, Inc., Denver, Colorado, notification of intent to engage in de novo activities (sale of reducing term credit life insurance and credit accident and health insurance in connection with amortized loans and consumer installment loans, and also the sale of level term credit life insurance and credit accident and health insurance in connection with single payment loans) at 2697 Highway 50, Grand Junction, Colorado; on the northwest corner of the in-tersection of East Belleview Avenue and Tamarac Parkway, Denver, Colorado; on the northwest corner of the intersection of East First Avenue and Madison Street, Denver, Colorado; and at 901 Grand Avenue, Glenwood Springs, Colorado, through its subsidiary, Colorado National Insurance Agency (10/22/79) 3/

37 4 (c) (8) or 4 (c) (12) notification processed by Reserve Bank on behalf of the Board of Governors urder delegated authority.

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H.2, 1979 No. 44 - 1 5 -

APPLICATIGNS RSCEIVED-Continued

REPORTS RECEIVED

Current Report Filed Pursuant to Section 13 of the Securities Exchange Act

Clevlenad The Ohio Citizens Trust Company, Toledo, Ohio.

* * * * *

PETITIONS FOR RULEMAKING

None.

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