Corporate Applications and Other Requests:
January 2000
Vol. 13, No. 1
IN THIS ISSUE:
PLEASE NOTE: Interpretive Letters and No Objection Letters reflect the views of
the Comptroller's legal staff. Corporate Decisions and Decisions (CRA) are from
the office of Bank Organization and Structure. The list of CRA Ratings is from
the Communications Division. For copies of the evaluation, you should contact
the bank directly or the Office of the Comptroller of the Currency, Attn:
Public Reference Room, Mailstop 1-5, Washington, D.C. 20219; Fax: (202)
874-4448.
Members of the news media are encouraged to cite the letter number when
reporting or summarizing documents from this package. This helps to process
single requests in a more timely manner.
Interpretive Letters
| Letter No. | Topic |
| 875 |
Key Bank USA, National Association may lawfully acquire and hold a
non-controlling, minority interest in Econex LLC, a limited liability company
that will provide certain Internet-related services to merchants, and that it
is legally permissible for Key Merchant Services, LLC, a limited liability
company in which the Bank holds a non-controlling, minority interest, to expand
its activities to include the Internet- related services to merchants. 10/31/99 |
| 876 |
No-objection letter to proposal by a federally licensed branch to act as agent
in brokering Australian and New Zealand government and corporate securities
purchased by its parent bank and resold pursuant to SEC Rule 144A. 12/08/99
|
| 877 |
Letter confirms that a trust company may sell pursuant to section 92 from a
trust office located in a place with a population of 5,000 or few inhabitants
if the trust office performs "core fiduciary functions" at its office in the
"place." 12/13/99 |
| 878 |
Letter confirms that a national bank subsidiary may hold various insurance
company products and investment un funds in order to hedge, on a
dollar-for-dollar basis, the subsidiary's obligations to make payments to
employees under nonqualified deferred compensation plans. 12/22/99
|
Corporate Decisions
| Letter No. | Topic |
| 99-44 |
Application by National Penn Bank, Boyertown, Pennsylvania, to expand the
activities of Link Financial Services, Inc. to engage in the sale of additional
lines of insurance as agent, including long-term care, property and casualty
insurance. (Control Number 1999 NE 08 0036), 09/10/99
|
| 99-45 |
Application by the First National Bank of Sharp County, Ash Flat, Arkansas, to
establish a messenger service branch. (Control Number 1999 SW 05 0187),
11/04/99 |
| 99-46 |
Application to merge LaSalle Bank, F.S.B., Chicago, Illinois, with and into
LaSalle Bank National Association, Chicago, Illinois. (Control Number 1999 CE
02 042), 12/02/99
|
| 99-47 |
Application by SOFTBANK Finance America Corporation, Wilmington, Delaware, to
acquire CompuBank, N.A., Houston, Texas. (Control Number 1999 SW 11 0002),
12/07/99
|
| 99-48 |
Application by Wheeling National Bank, St. Clairsville, Ohio, to purchase
certain assets and to assume certain liabilities of the Barnesville branch of
Sky Bank, Salineville, Ohio. (Control Number 1999 NE 02 0039), 12/20/99
|
| 99-49 |
Application for the Havana National Bank, Havana, Illinois, to purchase certain
assets and assume certain liabilities of the Havana and Lewistown branch
offices of Associated Bank Illinois, National Association, Rockford, Illinois.
(Control Number 1999 CE 02 0045), 12/22/99 |
| 99-50 |
Application by the First National Bank of Omaha, Omaha, Nebraska to expand the
activities of SPC, Inc. to include referring its merchant customers to a third
party that would provide Web site development services for these merchants and
processing purchases made over the Internet with debit and credit cards.
(Control Number 1999 MW 08 0031), 12/23/99 |
| 99-51 |
Application by UMB Bank, National Association, Kansas City, Missouri, to
establish an operating subsidiary, to be known as eScout.com LLC, which would
engage in research and development activities in connection with the
anticipated transfer of the Bank's current Internet Web site to the LLC.
(Control Number 1999 MW 08 032), 12/23/99
|
Approvals with conditions enforceable under 12 U.S.C. 1818
| Letter No. | Topic |
| 342 |
Application by First National Bank of Hampton, Hampton, Iowa, to elect the
corporate governance provisions of Iowa law and complete a reverse stock split
in accordance with those provisions. (Control Number 1999 MW 12 163), 12/03/99 |
| 343 |
Application by First Suburban National Bank, Maywood, Illinois, to establish a
branch in Skokie, Cook County, Illinois. (Control Number 1999 CE 05 219),
12/13/99 |
| 344 |
Application by The First National Bank of Hope, Hope, Kansas, to elect the
corporate governance provisions of Kansas law and complete a reverse stock
split in accordance with those provisions. (Control Number 1999 MW 12 154),
12/16/99 |
| 345 |
Application to convert Idaho Trust Company, Coeur d'Alene, Idaho, to a national
charter with the title of "Wealthbank, National Association." (Control Number
1999 WE 01 0013), 12/21/99 |
| 347 |
Application to charter Aerobank.com, National Association, San Jose,
California. (Control Number 1999 WE 01 0007), 01/29/2000 |
Each of the following charter application(s) were approved with a standard
condition enforceable under 12 U.S.C. 1818 that requires the bank, during the
first three years of its operation, to provide notice to the OCC at least 30
days in advance of any significant deviations or changes from its proposed
operating plan. Copies of the decision(s) are available by writing to the
Office of the Comptroller of the Currency, Attn: Public Reference Room,
Mailstop 1-5, Washington, D.C. 20219; Fax: (202) 874-4448; E-mail:
FOIA-PA@occ.treas.gov; or the OCC Web: http://www.occ.gov. When ordering
please specify the appropriate document number.
| Letter No. | Topic |
| 346 |
Baytree National Bank & Trust Company, (Control Number 1999 CE 01 0010),
12/28/99 |
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
2000-03
, announcing the availability of enforcement actions. Copies of the final
actions are available by writing to the OCC, Public Reference Room, Mailstop
1-5, Washington, D.C. 20219. When ordering, specify the appropriate enforcement
action number.
COMMUNITY REINVESTMENT ACT (CRA) Performance Evaluations
Enclosed is a list of CRA performance evaluations that became public during the
period of December 15, 1999 through January 14, 2000
.
INTERPRETATIONS AND ACTIONS is published monthly by the Office of the
Comptroller of the Currency. Subscriptions are available at a rate of $175 per
year by writing to the Comptroller of the Currency, P.O. Box 70004, Chicago, IL
60673-0004. Prepayment is requested. Suggestions, comments or questions may be
sent to Jacqueline J. England, Communications Division, Mailstop 3-2,
Comptroller of the Currency, Washington, DC 20219.
|
