Corporate Applications and Other Requests:
Vol. 16, No. 1
IN THIS ISSUE:
PLEASE NOTE: Interpretive Letters and No-Objection Letters reflect the views of
the Comptroller's legal staff. Corporate Decisions, CRA Decisions and
Conditional Approvals are from the office of Bank Organization and Structure.
The list of CRA Ratings is from the Communications Division. For copies of the
CRA evaluations, you may either contact the bank directly, or you may write to
the Office of the Comptroller of the Currency (OCC) in any of three ways: by
mail to the OCC, Attn: Public Information Room, Mail Stop 1-5, Washington, D.C.
20219; by fax to (202) 874-4448; or by e-mail to FOIA-PA@occ.treas.gov.
You may also write to the OCC for copies of enforcement actions and charters
with standard conditions.
Members of the news media are encouraged to cite the letter number when
reporting or summarizing documents from this package. This helps us to process
single requests based upon your citation in a more timely manner.
||Letter confirms that a national bank may engage in certain equity derivatives
transactions if the transactions are part of the bank's customer-driven,
non-proprietary financial intermediation business and if the bank has in place
an appropriate risk measurement and management process
||Letter addresses the interaction of the legal lending limit and 371D. Bank
proposes to make a loan to an unrelated entity that will construct a new bank
building. The amount of the loan would exceed the bank's 15 % general lending
limit. However, under 371D, a national bank may invest in bank premises and
make loans to any corporation holding the premises of the bank in an amount not
to exceed 100% of the bank's capital stock (absent certain other requirements
being satisfied). The letter concludes that the more specific statute, 371D,
controls over the more general LLL statute. WORD
||Application of American National Bank, Gonzales, Texas to purchase certain
assets and assume certain liabilities of the Gonzales, Texas branch of Guaranty
Federal Bank, FSB, Dallas, Texas. (Control Number 2002 SW 02 0028),
Approvals with conditions enforceable under 12 U.S.C. 1818
||Application to merge The Glenmede Trust Co, Philadelphia, Pennsylvania, and The
Glenmede Trust Company of NJ, Princeton, New Jersey, with and into The Glenmede
Trust Co NA, Philadelphia, Pennsylvania with the charter number and title of
"The Glenmede Trust Company, National Association." (Control Number 2002 NE 02
0030), WORD 12/03/2002
||Application by BPABank, National Association, Newark, New Jersey, to purchase
certain assets and assume certain liabilities of the Springfield branch of
Woronoco Savings Bank, Westfield, Massachusetts. (Control Number 2002 NE 02
0026), WORD 12/06/2002
||Application by First American National Bank, Iuka, Mississippi to elect the
corporate governance provisions of Mississippi law and complete a reverse stock
split in accordance with those provisions. (Control Number 2002 SE 12 136), 12/09/2002
||Application to convert Security Trust Company, Phoenix, Arizona, to a national
bank with the title of "Security Trust Company, National Association." (Control
Number 2002 WE 01 0005), WORD 12/16/2002
||Application to convert Northwestern State Bank, Hallock, Minnesota, to a
national bank with the title of "Marshall Bank, National Association" and for
the converted bank to establish a branch office in Minneapolis, Minnesota.
(Control Numbers 2002 MW 01 0012 & 2002 MW 05 0090),
||Applications by UBS AG to convert two state branches located in New York, New
York to Federal branches; convert a state agency in Miami, Florida to a limited
Federal branch; establish an additional limited Federal branch in New York, New
York; and exercise fiduciary powers. (Control Numbers 2002 IB 10 0003, 0004,
0005, 0006 & 2002 IB 12 0006), WORD 12/23/2002
||Application to establish a new national trust bank to engage solely in
fiduciary activities with the title of "Merchants Trust Company, National
Association." (Control Number 2002 CE 01 006), WORD
||Application to merge Trust Company of Maine, Inc., Bangor, Maine, with and into
Acadia Trust, National Association, Portland, Maine. (Control Number 2002 NE 02
0034), WORD 12/24/2002
||Applications of Central National Bank and Trust Company of Enid, Enid, Oklahoma
to establish two operating subsidiaries engaged in payments activities.
(Control Numbers 2002 SW 08 0015 & 2002 WO 08 0007),
Charters with standard condition
Each of the following charter application(s) were approved with a standard
condition enforceable under 12 U.S.C. 1818 that requires the bank to provide
notice and obtain OCC's non-objection in advance of any significant deviations
or changes from its business plan or operations.
||Application to charter Liberty National Bank, Sioux City, Iowa. (Control Number
2002 MW 01 010), WORD 12/19/2002
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
2003-04, 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, 2002 through January 14, 2003.
The Office of the Comptroller of the Currency publishes INTERPRETATIONS AND
ACTIONS monthly. Subscriptions are available at a rate of $175 per year by
writing to the Comptroller of the Currency, P.O. Box 73150, Chicago, IL
60673?7150. Prepayment is requested. Suggestions, comments or questions may be
sent to Jacqueline J. England, Communications Division, Comptroller of the
Currency, Mail Stop 3-2, Washington, DC 20219.