Corporate Applications and Other Requests:
Vol. 10, No. 12
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.
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.
| Letter No.||Topic|
Letter states that United Bank of Kuwait's Federal Branch may enter into net
leases of real estate to serve the home finance needs of its Muslim customers,
who are prohibited by religious principles from obtaining traditional
Letter opines that the flood insurance statutory and regulatory requirements
apply when a lender extend the term of a short-term home equity line of credit.
Application of the common enterprise tests to different cattle feedlot
| Letter No.||Topic|
State to national conversion for Mercantile Bank of Arkansas, North Little
Rock, Arkansas, and Request for Fiduciary Powers; (Control Numbers 97MW01029
& 97MW12164), (10/02/97).
Application by Roosevelt Bank, Chesterfield, Missouri, to convert to a national
bank with the title of "Roosevelt Bank National Association" and with a request
to exercise fiduciary powers; (Control Numbers 97MW01032 & 97MW12177),
(11/09/97) Application by Roosevelt Bank National Association, Chesterfield,
Missouri, to merge with Mercantile Bank National Association, Hartford,
Illinois, under the charter of Roosevelt Bank National Association, withe the
title of "Mercantile Bank National Association," with its head office in
Hartford, Illinois. Also a request for the resulting bank to reduce its capital
surplus account by $49 million immediately following the merger; (Control
Number 97MW02073), (11/09/97).
Application of SunTrust Bank, South Georgia, National Association, Leesburg,
Georgia, to establish a branch in Albany, Georgia; (Control Number 97SE050177),
Application to merge The Crockett State Bank, Crockett, Texas, into First
National Bank of Huntsville, Huntsville, Texas, under the charter and title of
First National Bank of Huntsville; (Control Numbers 97SW020075 &
Application for Liberty National Bank, Ada, Ohio, to purchase certain assets
and assume certain liabilities of the Kenton, Ohio branch of The Commercial
Savings Bank, Upper Sandusky, Ohio; (Control Number 97CE020075), (12/01/97).
Application to merge Whitney Bank of Alabama, Mobile, Alabama, Whitney National
Bank of Florida, Pensacola, Florida, and Whitney National Bank of Mississippi,
Gulfport, Mississippi, with and into Whitney National Bank of New Orleans,
Louisiana; (Control Number 97SW020087), (12/02/97).
Application to merge thirty-one affiliated banks with and into Union Planters
National Bank, Memphis, Tennessee; (Control Number 97SE020055), (12/03/97).
Application of Waterhouse National Bank, White Plains, New York, to relocate
its main office to Jersey City, New Jersey; (Control Number 97NE070006),
Application of Camden National Bank, Camden, Maine, to purchase the assets and
assume the liabilities of four branches, located in Maine, of KeyBank National
Association , Cleveland, Ohio; (Control Number 97MW020076), (12/05/97).
Application of Republic National Bank, Phoenix, Arizona, to acquire branches of
Bank One, Arizona, N.A., Phoenix, Arizona, and Bank One, Utah, N.A., Salt Lake
City, Utah; (Control Number 97MW020076), (12/05/97).
Application of First National Bank of Ashland, Ashland, Alabama, to purchase
certain assets and assume certain liabilities ("The Ashland and Tuskegee
branches") of SouthTrust Bank, N.A., Birmingham, Alabama; (Control Number
Application to Franklin Bank, National Association, Southfield, Michigan, to
establish an operating subsidiary to hold mortgage assets; (Control Number
Applications of Great Lakes National Bank, Ann Arbor, Michigan, to establish a
branch in Highland, Indiana, and to purchase the Highland, Indiana branch of
Bank of America, FSB, Portland, Oregon; (Control Numbers 97MW020084 &
Application to merge First USA Federal Savings Bank, Wilmington, Delaware, with
and into Bank One, N.A., Columbus, Ohio; (Control Number 97ML020010),
Application by First Bank Richmond, S.B., Richmond, Indiana, to merge with and
into an interim national bank; (Control Number 97CE020080), (12/30/97).
Application to convert State Bank of La Crosse, La Crosse, Wisconsin, to a
national banking association with the title of "First National Bank of La
Crescent" and to relocate the resulting national bank to La Crescent,
Minnesota; (Control Numbers 97MW010037 & 97MW070038), (12/30/97).|
Approvals with conditions enforceable under 12 U.S.C. 1818
| Letter No.||Topic|
Application by Intercontinental National Bank to establish a domestic branch.
(Control Number 97SW050179), 12/03/97
Application by Congress Asset Management Company to charter a national trust
bank in Boston, Massachusetts, with the title "Congress Trust, National
Association." (Control Number 97NE010014), 12/05/97
Application by Zions First National Bank, Salt Lake City, Utah, to commence new
activities in an operating subsidiary (engage in underwriting, dealing in and
investing in securities of states and their political subdivisions). (Control
Number 97WO080003), 12/11/97
Request by Avco National Bank, Costa Mesa, California, to resume full banking
operations. (Control Number 95CE070020), 12/18/97
Application by First Union National Bank, Charlotte, North Carolina, to
establish and invest in a limited partnership through an operating subsidiary
which will engage in purchasing, selling, servicing, and warehousing of home
mortgage loans and home equity loans. (Control Number 97ML080030), 12/29/97
Application by Bank One, N.A., to acquire an operating subsidiary that holds
(1) a 50 percent interest in a limited liability company engaging in credit and
debit card transaction processing services to merchant businesses, and (2) less
than a 5 percent interest in a limited partnership engaging in targeted and
customized marketing to holders of the members' credit card. (Control Number
Final Enforcement Actions
Enclosed is a copy of the OCC's news release number
98-2 , 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 November 15 through December 14.
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, Comptroller of the
Currency, Washington, DC 20219.